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Keyword: energymanipulation

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  • Former Officials Say Enron Hid Gains During Crisis in California

    06/23/2002 1:12:54 AM PDT · by Ernest_at_the_Beach · 4 replies · 200+ views
    The New York Times ^ | June 23, 2002 | DAVID BARBOZA
    OUSTON, June 22 — The Enron Corporation used undisclosed reserves to keep as much as $1.5 billion in trading profits off its books during the California energy crisis, according to six former managers and executives who handled or reviewed the accounts.The enormous reserves, which would have doubled the company's reported profits, were hidden in late 2000 and early 2001, as energy prices soared in California and politicians accused trading companies like Enron of price gouging. The former Enron officials said that the company swelled the reserves in hopes of damping the political firestorm.Further, some former executives said, Enron manipulated...
  • Reliant Responds to FERC's Industry-Wide Questionnaire

    05/24/2002 1:36:36 PM PDT · by Ernest_at_the_Beach · 4 replies · 178+ views
    The Street.com ^ | May 22, 2002 | PRNewswire
    Reliant Responds to FERC's Industry-Wide Questionnaire About Alleged Manipulation of California Electricity Market HOUSTON, May 22, 2002 /PRNewswire-FirstCall via COMTEX/ -- Reliant Resources, Inc. today submitted its response to the U. S. Federal Energy Regulatory Commission's request for information related to the trading practices described in a series of Enron memos released earlier this month.The Reliant submission denies that the company engaged in trading practices comparable to the practices detailed in the Enron memos during the period 2000-2001. For certain types of transactions the submission also seeks to explain the basic market structure that existed in California at the time,...