June 25, 2003: Power Ban Imposed On Enron
WASHINGTON — The Federal Energy Regulatory Commission (FERC) has announced that it has banned Enron from selling electric power and natural gas in the United States.
FERC noted that this was the first imposition of its “death penalty” ruling on a power marketer. The penalty came because of the agency’s determination that Enron was involved in artificially inflating power prices in the West during that region’s energy crisis in 2000-01.
FERC also noted that Enron would be allowed to return to the power market after it comes out of bankruptcy.
Publication date: 06/23/2003
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