Free Republic

WASHINGTON – Two energy companies facing the loss of their ability to sell electricity on the open market have acknowledged improper behavior by some of their traders during California's power crisis and say they have fired them. However, in filings with federal regulators this week, Reliant Energy and BP Energy asserted that the traders' activities had no impact on the Western power market and did no harm to consumers. The companies said revoking their authority to sell wholesale power at market rates would be an overly harsh punishment that would send shock waves through an already-fragile industry. California officials scoffed...

<p>Company denies it showed others how to 'game' energy market. New memo surfaces in scandal.</p> <p>SACRAMENTO – Perot Systems adamantly defended itself Friday against allegations that it showed others how to "game" California's energy market, even as another memo surfaced that outlined Perot's options to help Southern California Edison manipulate the market and complimented two Perot employees for their "devious" minds.</p>