 Seattle City Light
News Release |
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| Subject:
Mayor praises conviction of Enron execs |
For Immediate Release:
5/25/2006 5:15:00 PM |
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Mayor praises conviction of Enron execs
SEATTLE - Mayor Greg Nickels praised today’s convictions of former Enron
executives Jeffrey Skilling and Kenneth Lay on most of the fraud and conspiracy
charges brought against them.
“Enron and other companies cheated City Light ratepayers out of millions
of dollars during the Western energy crisis of 2000 - 2001,” Nickels
said. “We can at least draw some measure of satisfaction that justice
has been served.”
A growing body of evidence demonstrates that power traders, including Enron,
manipulated California’s deregulated electricity market to force wholesale
prices up and up during the Western energy crisis. Nickels said that Seattle
will continue to press its case before the Federal Energy Regulatory Commission
and the courts to try recover as much as possible of the amount City Light
was overcharged as a result of manipulated markets and fraudulently raised
prices.
Enron declared bankruptcy in December 2001, and the City filed a $6 million
claim. To date, the City has received approximately $700,000 from Enron.
Nickels acknowledged U.S. Sen. Maria Cantwell for her efforts on behalf of
City Light and its customers. “Sen. Cantwell has stood up to the big
energy companies and has fought hard for Northwest electric utility customers,” Nickels
said.
Visit the mayor’s web site at www.seattle.gov/mayor. Get the mayor’s
inside view on efforts to promote transportation, public safety, economic opportunity
and healthy communities by signing up for The Nickels Newsletter at www.seattle.gov/mayor/newsletter_signup.htm
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Office of the Mayor
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