Editor's letter: The ghost of Enron

Mark Pengelly - Energy Risk

Allegations of manipulation in US power markets inevitably stir up memories of Enron. After the Houston-based energy giant’s collapse, it was found to have exploited loopholes in California’s electricity market, exacerbating the state’s energy crisis in 2000 and 2001. At the time, Enron traders engaged in a number of questionable strategies with sinister names that made the firm’s lawyers squirm, including ‘Death Star’, ‘Fat Boy’ and ‘Get Shorty’.

Amid a flurry of alleged market manipulation cas