Wednesday, March 26, 2003
Regulators also said that "Water appears to be wet...and marshmallow peeps is kinda sweet".
Boy. You can't slip anything by the brainiacs at FERC:
Federal energy regulators said Wednesday that their investigation found widespread manipulation of natural gas and electricity prices and supplies in California.
PAT WOOD, chairman of the Federal Energy Regulatory Commission, said that as a result of the manipulation California would receive more than the $1.8 billion in refunds recommended by a FERC judge in December. The exact amount is to be determined in the coming months.
The FERC singled out seven subsidiaries of bankrupt Enron Corp. and five other companies for taking advantage of a dysfunctional market and reaping millions of dollars in unjust profits.
“The price gouging abounded,” Commissioner William Massey said. He said he regretted that FERC did not intervene earlier to police the newly deregulated power market in California.
Maybe because Dick Cheney kept the watchdogs locked up in the kennel.