Wednesday, September 27, 2006

TXU Manipulating the Market?

Uh oh. Someone didn't learn the lesson from all that business in California:

TXU Corp. may have manipulated wholesale electricity supplies and prices last year, according to an annual review of the Texas market.

An outside company hired by the state's Public Utility Commission found evidence that a power producer shut down some of its generating capacity on certain days in 2005 in order to squeeze supply and boost prices.

The report doesn't specifically name TXU, but it states that the company in question had about 13,000 megawatts of available capacity. The only company in Texas with that much juice is TXU.

Generally speaking, it's not good to face these sorts of accusations when you're looking to build already controversial new electric plants.

1 comment:

Nat-Wu said...

Those SOBs! I smell class-action lawsuit!