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
Rhode Island natural gas-fueled power plant

Chicago firm to build clean energy facility in Rhode Island

A Chicago-based company that plans to build an energy facility in Rhode Island says it will c...
States to fight EPA carbon emissions rule

Nebraska to join other states challenging new EPA rules

Nebraska Attorney General Doug Peterson says the state will join others in a legal fight agai...
Hydropower tops power generation share in Canada over next decade

Hydropower tops power generating sources in Canada, report says

Hydropower will continue to be the dominant power generation source in Canada over the next t...
Mitsubishi Hitachi group launches precipitator unit

Mitsubishi Hitachi companies launch emissions control unit

Mitsubishi Hitachi Power Systems Ltd. (MHPS), Mitsubishi Heavy Industries Mechatronics System...
China US nuclear deal passes congressional review

US-China nuclear agreement passes congressional review

An agreement allowing American involvement in China's civilian atomic industry is set to be r...
NRC special inspection at Honeywell uranium hexafluoride leak

NRC begins special inspection at uranium enrichment facility

The U.S. Nuclear Regulatory Commission (NRC) launched a special inspection at a uranium conve...
House GOP says they have votes against Iran nuclear deal

House GOP says it has the votes to disapprove of Iran deal

House Republicans said Monday that they have the GOP votes to disapprove of the Iran nuclear ...
Winners and losers in Clean Power Plan Associated Press

Who wins and loses under Obama's stricter power plant limits

President Barack Obama is mandating even steeper greenhouse gas cuts from U.S. power plants t...

Power Engineering Current Issue

01/01/2015
Volume 119, Issue 1
1501pe-cover-lg
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 | 2014 | 2015

Power Industry Wire News

Emerald Oil Reports Second Quarter 2015 Financial and Operational Results, Guidance Increase, Credit Facility and Term Loan Facility Update

Emerald Oil Reports Second Quarter 2015 Financial and Operational Results, Guidance Inc...

EnerCom, Inc. to Host 100+ E&P, Oilfield Service and MLP Companies at the Oil & Gas Conference(R) 20; Conference Dates Are August 16-20, 2015

EnerCom, Inc. to Host 100+ E&P, Oilfield Service and MLP Companies at the Oil & Gas Con...

Ideal Power Inc. Announces Second Quarter 2015 Results

Ideal Power Inc. Announces Second Quarter 2015 Results

Ternium Announces Second Quarter and First Half 2015 Results

Ternium Announces Second Quarter and First Half 2015 Results

Android Tablet Opportunities for VARs/Resellers

Android Tablet Opportunities for VARs/Resellers

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 >>