It doesn’t happen very often, so we’re noting an apparentlyspontaneous comment from Dynegy Counsel Ed Ross at a FERCRoundtable last week that one of his chief competitors, Enron, “hasdone an excellent job of being competitive.” He suggested otherscould look to Enron as a “model competitor. They’ve done a verygood job of setting up a strong financial desk and a strongphysical desk and we don’t see any problem with it. I think theyhave set up their books in a way that they truly have separationbetween the regulated and unregulated aspects of their business.”
Ross had prefaced the remark, midway through a heated debate onaffiliate abuses, with the comment that “this is not anindustry-wide problem. I believe there are good and bad players inthe market today.”
Earlier, Enron’s Leslie Lawner had invited “all of you to spendthe day on Enron’s trading floor, because I assure you, you willnot see a more competitive environment anywhere. There is no waythese folks, who fight like cats and dogs among themselves, wouldvoluntarily transfer value to the pipeline group for the good ofthe bottom line.” Lawner had to quickly back off the invitation -mentioning confidentiality restrictions – when it appeared abouthalf the room was ready to troop over to the trading floor.
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