Enron, as first, has been given a death penalty, which means that the trader have been barred after their fraudulent behavior in the energy crisis of California.
With this penalty the Ferc(Federal Energy Regulatory Commission) wants to make clear that the public interest has to be an important objective in each company, instead of boosting their own profits by selling energy at high prices. According to the Ferc, the energy industry got itself into trouble and had to seek for bankruptcy protection because they didn’t use any rules. Today new rules are imposed and they contain that the basic things should be done. Despite the work of the Ferc, people still have to accept the highly-prized contracts.
Bram De Cocker
Source:
BBC News: http://news.bbc.co.uk/2/hi/business/3021336.stm
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