Wednesday, May 04, 2005

ENMAX makes their move

From the Calgary Herald:

"Enmax is no longer required to publicly file its annual report.

The Alberta Securities Commission has granted a request from the Calgary-owned utility to back off on its public reporting requirements.

The company says the move will save it about 100-thousand dollars a year."

In other, older news:

"Powerex, the energy-trading arm of B.C. Hydro, says it did rake in an extra $4 billion but knew nothing of any scheme to rig prices.

"Powerex flatly, vehemently denies any allegations that there was any price-rigging or any collusion whatsoever," said Elisha Odowichuk of B.C. Hydro. "We followed the rules."

The State of California disagrees and it's suing Powerex for a refund of alleged excess profits. U.S. regulators are also seeking answers from dozens of U.S. companies and three in Alberta: Enmax, TransAlta and TransCanada Pipelines.

California Governor Gray Davis says several companies were involved in "fraudulent efforts to increase prices and create shortages in California, which may rise to criminal activity," said."