The contest is open to writers from all nationalities for stories of up to 10,000 words long, that are previously unpublished in English. Grand Prize is €1000 and publication in Albedo One. Second and third place prizes are €200 and €100 euro and publication in Albedo One. The contest is open from January 1st 2011 to the end of November 2011.An entry fee of 7 euro applies, which can be paid online via PayPal on the Aeon Award contest guidelines page.
I got my tale "Black Water" shortlisted to seventh place many years ago, which then got me involved in working with the Albedo One team, so you never know what might happen if you enter.