Enron's European power trading operations unraveled quickly after the directors of London-based Enron Europe called in administrators PricewaterhouseCoopers last Thursday in reaction to a cut-off in funding from Houston-days ahead of the filing by its parent for Chapter 11 bankruptcy protection in the US. By Friday, Enron Europe had ceased deliveries of power exchanges in Scandinavia, the UK, Germany, and the Netherlands. And its had effectively been barred from power grids in Germany and the UK.
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