Enron Challenges FERC Refund Order
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Enron Corp. challenged an order to refund $32.5 million for violating electricity trading rules during the California energy crisis of 2000-01.
An administrative law judge with the Federal Energy Regulatory Commission ordered the refunds in July after finding that Enron set up an arrangement to staff El Paso Electric Co.’s trading desk as a way to increase Enron’s market share and give it access to sensitive market information.
In a filing with FERC, Enron said the agency had no right to order retroactive refunds.
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