Caveats

Laden with caveats and limited to an 18-month period between 2000 and mid-2001, a third report on energy market manipulation was presented to FERC last week by the California Independent System Operator (CAISO). The 28-page report, “Supplemental Analysis of Trading and Scheduling Strategies Described in Enron (December 2000) Memos,” details schemes ranging from “Fat Boy” to “Ricochet” with everything in between.