London (Platts)--7Aug2008

Wholesale prices for electricity, coal and natural are expected to
increase over the next six months as well as over a period of five years, a
survey of 200 energy experts by German economics institute ZEW found Thursday.
A majority of 70% of experts believed power prices would rise over the
next six months, 29% saw stable prices and 1% expected falling prices. For the
coming five years, 93% of experts believed prices will firm.

The ZEW said this high figure was a reflection of the insecurity over
investments in the energy industry, for example over the necessary investments
in power plants, the decommissioning of nuclear units, political conflicts
over new coal plants or auctioning of emission rights as planned by the
European Commission.

For natural gas, 83% of experts believed prices would rise in the coming
six months, 15% expected the prices to remain stable, while 2% thought prices
would fall. For the long term, 78% of experts believed prices would rise, 17%
expected stable prices while falling prices were expected by 5% of experts.

A majority of 60% of interviewees expected coal prices to rise over the
next six months, while stable prices were expected by 38% and 2% believed in
falling prices. For the five years outlook, the survey found 78% expected
prices to rise, 17% saw stable prices and 5% thought coal prices would sink.

The energy market barometer is carried out twice a year by the ZEW.
It surveys opinions of more than 200 energy experts, ranging from
suppliers to traders to service providers.