Platts Global Energy said it has received a subpoena from the Commodity Futures Trading Commission (CFTC) for documents, employee information, policies and customer lists for price reports it publishes in its energy publications. The subpoena is part of a broad investigation of energy trading practices the CFTC is conducting, that was sparked by disclosures about Enron. A number of energy companies already have provided information to the CFTC. Two companies, Dynegy and AEP have admitted they provided false data to some price reporting publications. The companies have not publicly identified the false reports by time or location, nor is there any information as to whether the false reports were used by the publications, which have screening methods to eliminate suspect information. The subpoena seeks a list of current and former Platts employees “responsible for gathering, editing, verifying and publishing the information” and policies and training manuals for new price reporters. It also demands notes and other records of third-party services used in price gathering, and any information that “indicates any person’s knowledge of false, inaccurate or otherwise incorrect pricing and volume information,” Platts said.
Documents
Articles from Documents
Report Details Downside of Gas Restructuring for Consumers
The National Center for Appropriate Technology (NCAT) is scheduled to release a new study Tuesday that documents the adverse impacts of electric and natural gas market restructuring on some residential consumers. The five-state study is the first product of an on-going project to examine the impacts of restructuring on residential consumers, particularly low- and moderate-income households.
Documents Reveal Enron Pressured PaineWebber to Fire Broker
An assertion by a former UBS PaineWebber broker that he had been fired for advising clients to sell their Enron Corp. shares in August 2001 was verified Wednesday by Congressional investigators, who released a series of e-mail messages between the brokerage and the company. Broker Chung Wu, formerly in PaineWebber’s Houston office, said he suspected his dismissal followed pressure from Enron after he sent a message to clients early on Aug. 21 warning that Enron’s “financial situation is deteriorating” and that they should “take some money off the table.”
FERC Orders ConEd to Cough Up Millennium Documents in Five Days
The Federal Energy Regulatory Commission, denying a citizen group’s request for a subpoena, has itself ordered Consolidated Edison and KeySpan Energy to provide detailed information, including maps and engineering work papers supporting the companies’ requirement that the proposed Millennium Pipeline connect with ConEd in Mount Vernon, NY.
FERC Briefs
The Federal Energy Regulatory Commission is looking forvolunteers for a pilot project for electronic filing of documentsin Commission proceedings over the Internet beginning Oct. 1, 1999.The pilot will test FERC’s computer systems and be limited tomotions and notices to intervene, protests, comments and relatedfilings. Participants must still file paper copies during thetesting period.