Benefit of counsel: Trading in Enron's effluent

摘要

"Death Star," "Get Shorty" and "Fat Boy." In the energy industry, references to these and other Enron trading strategies have become commonplace. But what exactly did the Enron traders do? How has Enron's behavior been viewed by the Federal Energy Regulatory Commission (FERC) staff? What are the consequences for future energy trading? On Aug. 13, 2002, FERC staff issued an initial report on Enron's trading strategies publicly disclosed on May 6, 2002. That report indicated that the investigation is far from over. Although the report repeatedly qualifies its discussion of Enron's trading strategies as preliminary, it provides some clues as to FERC's final position once the investigation is complete.