SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?


To: Kevin Rose who wrote (14299)6/5/2004 11:33:49 PM
From: Doug R  Read Replies (1) | Respond to of 173976
 
They did it in Nevada too:

Papers filed in a Las Vegas federal court cited transcripts of colorful, off-the-cuff telephone calls among CRC employees, Enron power traders and others in which they described profits flowing from the alleged manipulation and the harm to Nevada Power. Phone conversations among traders in the industry are routinely taped to ensure the accuracy of the ordering process, lawyers said.

"Mo' money, mo' money, mo' money, mo' money," said one CRC official to a colleague while looking at power schedules that had been tampered with, according to excerpts.

Executives at the river commission did not return phone calls and e-mail messages yesterday. Executive Director George M. Caan told the Las Vegas Review-Journal earlier this week that the commission's actions "did not follow the talk" captured on the tapes. Caan added that the commission was too small to influence energy prices as some opponents have alleged.

Yesterday's lawsuit is part of a broader, ongoing fight among Nevada Power, the CRC and Enron. The Federal Energy Regulatory Commission continues to examine the river commission's role in possible rigging of the energy market.

Two former Enron traders already have pleaded guilty to taking part in a conspiracy that involved energy-pushing strategies they nicknamed "Death Star," "Fat Boy," and "Get Shorty" to profit the Houston-based energy trading giant.

Enron, which is reorganizing itself through the bankruptcy process, was not named as a defendant in the Nevada lawsuit.

"Enron has ripped off the Nevada utilities and their ratepayers for hundreds of millions of dollars," said Roger A. Berliner, a Washington lawyer representing Nevada Power in FERC proceedings. "Now we have compelling evidence that Enron was even able to enlist a Nevada state agency to be part of its conspiracy to manipulate the western market at the expense of the Nevada ratepayer."

Spokesmen for FERC and Enron did not return calls late yesterday.

washingtonpost.com