Enron Barred from Selling in U.S. Market

WASHINGTON -- Federal energy regulators on Wednesday barred Enron Corp. from selling electricity and natural gas anywhere in the United States, in response to findings that it manipulated Western power markets two years ago, The Associated Press reported.

The Federal Energy Regulatory Commission said Enron would be able to apply to sell power once it emerges from bankruptcy proceedings.

FERC Chairman Pat Wood said it was the first time the commission had imposed its so-called "death penalty" on power sellers.

"We send a clear signal that competitive markets must work in the interest of customers and the public interest," Wood said.

-- NYSSCPA.org News Staff

Posted on 06/25/03