RWE unit to hand back $41.2 mln to Czech customers

...for natural gas, the company said on Thursday.

RWE Transgas, fully-owned by the German utility, said the payback would offset higher prices from 2006 and early 2007.

The company, dominant importer and supplier of natural gas to the Czech market, made a net profit of 8.19 billion crowns in 2006.

Its prices will rise by 2.2 percent on average from July, including a 2.0 percent increase for households.

The firm said a strong crown currency, especially against the U.S. dollar , helped prevent a sharper price increase, following a 1.2 percent rise in the average price paid by households from April.

It announces prices for retail and medium-sized customers every quarter. Wholesale charges are set monthly.

[PRAGUE/Reuters/Finance.cz]