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Subject:   Mayor praises conviction of Enron execs
For Immediate Release:   
5/25/2006  5:15:00 PM
For More Information Contact:

Mayor praises conviction of Enron execs

SEATTLE - Mayor Greg Nickels praised todays 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 Californias 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 mayors web site at www.seattle.gov/mayor. Get the mayors 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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