House committee opens energy price investigation


June 6, 2002 -- The House Energy and Commerce Committee has begun its own investigation into energy price manipulation in California.

House Democratic Leader Dick Gephardt (D-Mo.) called for Congress to act more decisively to find out what happened in 2000 and 2001 when electric prices skyrocketed in the Western U.S. and especially California.

"The American people know that it is wrong to endanger lives and livelihoods by creating fake electricity shortages and rigging prices," Gephardt said Wednesday in a statement. "In light of this mounting evidence, Congress should investigate all the allegations of market manipulation and Enron corporate malfeasance. We must impose stiff penalties on corporate wrongdoers. Equally important, we need to get the facts on the table. We need to protect consumers, restore faith and trust in free and fair markets and ensure that this type of corporate malfeasance never happens again."

In addition to its planned interviews with people about energy trading strategies in 2000-2001 in California, the committee also is looking into the collapse of Enron and accounting practices, the Associated Press reported.

The Federal Energy Regulatory Commission (FERC) in February launched a comprehensive investigation into possible energy price manipulation in U.S. Western markets, and the committee plans to ask FERC for a confidential briefing on the issue.

Sponsored by FLSmidth

Related Articles

Wisconsin Electric gets no bids to buy Presque Isle coal plant

Wisconsin Electric Power hasn't gotten any purchase bids at this point off a recent request for proposals (RFP) that it issued for the coal-fired Presque Isle power plant in Michigan's Upper Peninsula.

Gas, renewables account for new generation additions in February

Basin Electric Power Cooperative has commissioned its 45-MW Pioneer 2 peaking unit in North Dakota and it was the largest conventional peaking plant to come online during February as renewables accounted for the rest of the new generation.

Follow Power Engineering on Twitter

Latest News

 Electric utility Dominion flexes political muscles in Virginia

Electric utility Dominion flexes political muscles in Virginia

Virginia's 2015 legislative session was a good one for energy giant Dominion Resources Inc. (...
Callaway Energy Center's Replacement Reactor Vessel Closure Head Project

[Image Gallery] Callaway Energy Center Nuclear Power Upgrade Project

 DOE to help tribes advance onsite, renewable energy projects

DOE to help tribes advance onsite, renewable energy projects

DOE announced the third round of START Renewable Energy Project Development Assistance, which...
Report: 2014 was the best year for utility-scale solar power

Report: 2014 was the best year for utility-scale solar power

With more than 3.7 GW installed, 2014 was the best year yet for utility-scale solar power ins...
CHP: Energy Independence Offers a Competitive Edge

[Image Gallery]

Best Boiler Cleaning Practices

[Image Gallery]

 FirstEnergy Nuclear Operating Co. elects new president, CNO

FirstEnergy Nuclear Operating Co. elects new president, CNO

FirstEnergy Nuclear Operating Co. (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE),...
 Enbridge’s Texas wind project reaches commercial operation

Enbridge’s Texas wind project reaches commercial operation

Enbridge’s 110-MW Keechi Wind Project has reached commercial operations in Jack County, Texas.

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Power Industry Wire News

Western Gas Announces Acquisition and 2015 Outlook

Western Gas Announces Acquisition and 2015 Outlook

Thinnest, Rugged Laptop With 15" Display

Thinnest, Rugged Laptop With 15" Display

BioCNG, LLC Announces Expansion of St. Landry Parish Solid Waste District BioCNG(TM) System to Include Mother-Daughter Fuel Station

BioCNG, LLC Announces Expansion of St. Landry Parish Solid Waste District BioCNG(TM) Sy...

Letter From CGE Energy President Bryan Zaplitny

Letter From CGE Energy President Bryan Zaplitny

UGE International and OTEPI Renewables Selected to Supply Solar Energy Systems for Retail Chain's Portfolio of Facilities

UGE International and OTEPI Renewables Selected to Supply Solar Energy Systems for Reta...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>