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Enron Mail |
---------------------- Forwarded by Carla Hoffman/PDX/ECT on 11/28/2000 01:08
PM --------------------------- Enron Capital & Trade Resources Corp. From: "Pergher, Gunther" <Gunther.Pergher@dowjones.com< 11/28/2000 11:48 AM To: undisclosed-recipients:; cc: Subject: DJ Class Action/Calif Generators-3: Antitrust Law Violated 19:42 GMT 28 November 2000 DJ Class Action/Calif Generators-3: Antitrust Law Violated The "class" - the plaintiffs - are defined as anybody who bought power through the California Power Exchange last summer, but largely represents the 1.2 million customers of Sempra Energy unit (SRE) San Diego Gas & Electric Co., according to the complaint. The complaint alleges the defendants violated antitrust laws. The plaintiffs allege that the generators named in the suit deliberately withheld their power supply from the CalPX forward market, scheduled unplanned power plant outages and congested transmission lines last summer in an effort to drive up wholesale power prices. Houston-based Reliant Energy Inc. (REI), operates five power plants in California. Atlanta-based Southern Company (SO) operates six generation units in the state; Houston-based Duke Energy (DUK) operates four power plants; Houston-based Dynegy (DYN) operates eight power plants in California; Arlington, Va.-based AES operates four, Tulsa, Okla.-based Williams Energy operates three generation units and Minneapolis-based NRG operates eight power plants. In addition, the suit claims the California Independent System Operator, manager of the state's high voltage transmission system, wrongfully supplied the Western Systems Coordinating Council, an agency that manages electricity reliability in the west, with real-time information about power plant outages and electricity generating and capacity levels that was used by generators to manipulate the market. "Through the WSCC Internet web site, wholesale electricity market participants ... were thereby given access to real-time data as to their competitors' actions, although access to such data was forbidden by the ISO's (rules)," the complaint states. "Starting on or about May 22, 2000, defendants used such real-time data to exercise market power, by among other things, reducing their (electricity) output, strategically underbidding supply to the forward markets and exporting electricity from the state in order to drive up" power prices, the complaint further states. The defendants weren't immediately available for comment. -By Jason Leopold, Dow Jones Newswires; 323-658-3874; jason.leopold@dowjones.com (END) Dow Jones Newswires 28-11-00 1942GMT Copyright © 2000, Dow Jones & Company Inc G_nther A. Pergher Senior Analyst Dow Jones & Company Inc. Tel. 609.520.7067 Fax. 609.452.3531 The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
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