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FERC Fingers 37 Firms for Enron-style Trades by Staff San Francisco Business Times, March 26, 2003

The Federal Energy Regulatory Commission pointed to 37 firms — some of them Bay Area companies — for engaging in what it has called questionable trading strategies with Enron Corp., the bankrupt energy giant that fell hard under sharp criticism for its corporate ethics. The commission also said California is due $3.3 billion for being forced into suspect deals during its energy crisis of 2000-2001. The commission staff also suggested FERC rule that Enron pay $500 million of that sum for collecting unfair profits.

In a report, commission staff said these 37 firms should prove to FERC that they did not manipulate Western markets during the California energy crisis in 2000-2001. FERC will vote at a later day whether to take the staff up on that proposal.

The 37 firms and entities listed in the FERC report are:

• Sempra Energy
• Dynegy Inc.
• Calpine Corp. of San Jose
• Pacific Gas & Electric Co. in San Francisco
• Duke Energy
• Reliant Resources
• Williams Cos. Inc.
• Morgan Stanley
• B.C. Hydro's Powerex unit
• Royal Dutch/Shell
• Enron's Portland General Electric
• Los Angeles Department of Water and Power
• Aquila Inc.
• Edison Internationals' Southern California Edison
• Constellation Energy
• Sierra Pacific Resources
• Arizona Public Service
• Pacificorp
• Bonneville Power Administration
• Cargill
• Idaho Power Co.
• San Francisco Energy
• Modesto Irrigation District
• City of Glendale (Calif.)
• City of Azusa (Calif.)
• City of Riverside (Calif.)
• City of Pasedena (Calif.)
• City of Vernon (Calif.)
• Salt River Project
• American Electric Power Services Corp.
• San Diego Gas & Electric
• Enron Power Marketing Inc.
• Avista Energy Inc.
• PGE Energy Services
• Automated Power Exchange
• Citizens Electric