Energy deceit alleged - Democratic Underground

Nottingham

(1000+ posts) Send PM | Profile | Ignore

Tue Jul-08-03 07:18 PM
Original message

Energy deceit alleged

Energy deceit alleged
Power firm claims price manipulation
By BILL HENSEL JR.
Copyright 2003 Houston Chronicle
Power marketers illegally manipulated energy prices earlier this year, effectively forcing Texas Commercial Energy into bankruptcy, the Plano-based company alleged in a federal antitrust lawsuit filed Monday.

Texas Commercial Energy alleges that units of American Electric Power Co., Mirant Corp., Reliant Resources and TXU Corp. violated both state and federal laws by fraudulently inflating prices in the newly deregulated electricity market.

Texas Commercial Energy is an electricity retailer that sells exclusively to businesses and industrial customers.

The company cited price volatility when it filed for bankruptcy protection in March. In the lawsuit, it put the blame on the larger companies.
http://www.chron.com/cs/CDA/ssistory.mpl/business/1983858

They just keep doin it and keep doin it!

:bounce:

Printer Friendly | Permalink | | Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.