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Non-Tech : The ENRON Scandal

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To: Karen Lawrence who wrote (3977)	5/8/2002 10:56:09 PM
From: Mephisto	Read Replies (1) of 5185

"On Dec. 5, 2000, for example, prices soared to $1,200 per megawatt-hour in the Pacific Northwest, while a $250 cap was in place in California. Enron traders saw that they could lock in an instant $950 profit for each megawatt-hour of electricity by buying power on the California PX and selling it up north, according to the memo. "This strategy appears not to present any problems, other than a public relations risk from the fact that such exports may have contributed to California's declaration of a Stage 2 emergency yesterday," the memo said." From LA Times... Memo Shows Enron Role in Power Crisis Energy: "Smoking gun" document by company lawyers reveals tactics used to create electricity shortage in California, then drive up prices. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> We are still suffering from the fallout of those high electricity prices. Our utility bill went up but so did everything else. I heard that food prices will go up another 10% this year because of the midwest drought!

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