Utility settling power manipulation probe
Friday, Dec. 6, 2002 | 11:05 a.m.
EL PASO, Texas -- El Paso Electric Co. took a step Thursday toward settling federal allegations that the utility owner conspired with Enron Corp. to manipulate power prices during California's energy crisis.
The Texas power supplier would refund $14 million and stop wholesale electricity trading for two years under an agreement with Federal Energy Regulatory Commission trial staff, El Paso Electric said Thursday.
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