The Federal Energy Regulatory Commission released last Thursday a list of 12 major energy companies and a group of Enron-linked concerns that it says are the target of continuing investigations into alleged manipulation of natural gas and electricity prices.

“The Commission intends the proceedings listed in…this order to proceed as investigative and, where appropriate, [to result in] enforcement proceedings. Their purpose is to examine instances of potential wrongdoing and take remedial action where needed. The Commission is thus acting in a prosecutorial manner in these matters,” said the order, which was issued to clarify the status of various cases.

Named in the list were American Electric Power Co., Aquila Marketing Service, Coral Energy Resources LP, CMS Marketing Services & Trading, Dynegy Inc., Duke Energy Trading and Marketing LLC, El Paso Merchant Energy LP, Mirant Americas Energy Marketing LP, Reliant Resources Inc., Sempra Energy Trading Corp., Williams Energy Marketing & Trading Co. and BP Energy Co. Nine companies with connections to Enron, including Enron Power Marketing Inc. and Enron Energy Services Inc., also were cited.

The allegations against the energy companies stem from FERC’s investigations into the manipulation of gas and power markets on the West Coast, reporting of false information on natural gas trades to published price indexes, and improper bidding behavior and practices in western energy markets [PA02-2, PA03-1, AD03-7 and IN03-10].

Because the Commission is treating these as investigations, it said it won’t allow any intervenors in the cases, and will rescind any interventions that it “may have erroneously allowed” so far. In addition, the agency noted that all rehearing requests will be dismissed with respect to the listed dockets, with the exception of the parties that are the subject of investigation.

Commissioner William Massey dissented in part, arguing that California parties should not be shut out of the agency investigation into the improper bidding behavior and practices in western markets.

“Much of the evidence supporting the investigation was adduced by parties pursuant to a court order in the California refund proceeding. The California parties are integral to the assessment of and weight to be given the evidence,” he said.

©Copyright 2003 Intelligence Press Inc. Allrights reserved. The preceding news report may not be republishedor redistributed, in whole or in part, in any form, without priorwritten consent of Intelligence Press, Inc.