The convictions of Enron chiefs Ken Lay and Jeff Skilling marked the end of a difficult and unpleasant time in energy trading. Five years after the collapse of Enron and the catastrophic ripple it sent through energy markets, US power and gas markets are now booming again.
The temptation from here could be to consign Enron, and all its complex and less understood trading practices to a file labelled "bad, must not be allowed again." This, some market participants believe, is a very real
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