Enron Update, was: FCC to Cellcos: Clean up Your Bills

I don't for a moment think the Narragansett Electric was going to
> walk away owning just the distribution network and not make people pay > top dollar for it. All this at the time that our electric system > infrastructure is crumbling. > There are echoes of Enron all over the place. Now you just have to dig > a bit deeper to find them.

Speaking of Enron:

"Federal regulators handed a major victory Friday to Western utilities and cities trying to escape exorbitant contracts they made with disgraced energy giant Enron Corp. during the power crunch of 2000-01.

"In a six-page order issued Friday evening, the Federal Energy Regulatory Commission determined that Enron was engaging in illegal activity at the time it entered the contracts with the utilities - and that therefore, a hearing should be held to determine whether Enron should be allowed to collect profits it would have received had those contracts been fulfilled.

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Comment: fascinating that this was released by the feds Friday evening, eh? That time, as we all know, is used when you want a story to be buried ...

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