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July 15, 2005

Enron to Pay $1.5 Billion to CA, WA, and OR

Just in, the Seattle Times has an article on the settlement.  Here's the essence of it:
Bankrupt energy company Enron Corp. has agreed to pay more than $1.5 billion to resolve claims that it gouged California and other western states including Washington and Oregon during the 2000-2001 energy crisis, state officials said.

Assuming FERC agrees, Washington State will get $22.5 million from the unsecured settlement and a portion of the $600 million penalty.

Thanks to Senator Maria Cantwell for unearthing the evidence of the illegal Enron transactions, publicizing it and insisting that the unwilling Federal Energy Regulatory Commission (FERC) give Washington tax-payers some relief. 

Posted by Lynn Allen on July 15, 2005 at 12:37 PM in Miscellany | Permalink

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