In search of transparency

After the scandals over accounting, megawatt laundering and wash trades, the collapse of confidence in natural gas pricing mechanisms is yet another public relations nightmare for the energy sector. Particularly as it seems many people knew it was taking place all along.

Since September 2002, American Electric Power, El Paso, Dynegy, Williams and CMS Energy have admitted providing false data to price indexes. Under the existing system, natural gas traders report volume and price details to a

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