Feinstein Urges FERC to Release Evidence

Sen. Dianne Feinstein (D-Calif.) called for federal energy regulators to release evidence of fraud and manipulation that took place in the Western power market in 2000 and 2001.

Feinstein wrote a letter to the Federal Energy Regulatory Commission asking it to drop a protective order that covers evidence that will be submitted this month by California officials seeking $8.9 billion in refunds from power companies.

A second former Enron Corp. trader, Jeff Richter, pleaded guilty this week to charges he helped manipulate the state energy market during the power crisis.

Tim Belden, Richter’s supervisor, pleaded guilty in October to taking part in a scheme that prosecutors said drove up prices in the West.

FERC has given state officials suing for refunds until Feb. 28 to submit evidence of fraud and manipulation and set a March 17 deadline for a decision on any action.