FRANKFURT (Standard&Poor's) Jan. 17, 2005, Standard&Poor's Ratings Services said today that the ratings and outlook on Austrian utility KELAG AG (A+/Stable/--) are unaffected by the announcement by e-control, the Austrian energy regulator, that it has approved a significant 12.8% cut in KELAG's network tariffs, as well as cuts for two other regional suppliers and the operator of the high-voltage grid. This is the first time that KELAG's tariffs have been reduced since the regulatory body was established in 2001. KELAG has announced its intention to legally challenge the regulator's decision. At the same time, the company said it would increase the electricity price by the same amount as the tariff cut to make up for lost
