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California - no problem
01 February 2001
While others suffer Californian angst, Enron is sitting pretty
according to Steven Kean, vice-president.
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While Enron's name is often mentioned with regard to the California
power crisis, except for the production of a small amount of power
through wind facilities, Enron is not a power generator in the
state of California. In fact, as a market maker, Enron is the
largest buyer and seller of electric power in North America.
EnronOnline, the company's Web-based trading system, completed its
first full year of operation in 2000, executing 548,000
transactions with a gross value of $336 billion.
As a power producer in California, Enron is dwarfed by a number of
other companies. However, the company is active as a trader in the
state's wholesale market. The company has not released information
on how much money it made from its California power trading either
for the fourth quarter or for the full year. What is certain,
however, is that for the third quarter, Enron's power trading
volumes for the western US...
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