Energy Trading Enron

About Energy Trading Enron

Enrons energy trading operation was the most profitable part of the company before the fraud was discovered. Enron Online, launched in 1999, was the first internet based energy trading platform. At its peak, Enron Online executed 6,000 transactions per day. Enron controlled approximately 25 percent of the electricity and natural gas trading market in North America. When Enron collapsed, energy markets were severely disrupted. The California electricity crisis of 2000 and 2001, partly caused by Enron traders manipulating markets, cost California approximately 40 billion. Enron traders were recorded joking about stealing from grandmothers. The Federal Energy Regulatory Commission obtained tapes of Enron traders discussing creating congestion on power lines to drive up prices. The energy trading business was acquired by UBS Warburg.