The Times reports that regulators had studied 'Enron's actions in the fourth quarter of 2000 and had determined that five subsidiaries traded large volumes of electricity contracts among themselves in a bid to increase prices.'
Enron has cooperated fully into the committee's investigation and denies that it in any way manipulated the market.
Enron Accused Of Sham Deals
The New York Times has reported that Loretta Lynch, president of the California Public Utilities Commission, has told the Senate Commerce Committee that employees of the Enron Corporation traded among themselves in late 2000 in sham transactions which resulted in an increase in US electricity prices.
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