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Location: pumpkin pie bungalow
Location: pumpkin pie bungalow
October 23rd, 2005, 12:44 AM
Conservative Cabinet’s Secret Deal With Enron Revealed
Another reason for a full independent public inquiry into electricity
deregulation
Gosh, I expect this will be a big story do ya think
Edmonton – Alberta Liberal Energy Critic Hugh MacDonald revealed today the extent to which the Progressive Conservative government went to conceal their secret relationship with disgraced electricity trader Enron.
“What I have here is proof of Enron’s direct influence over the Conservative government to best serve Enron’s own financial needs,” said MacDonald. “And the Alberta government readily agreed to accommodate their demands even when they knew of Enron’s pending financial collapse and criminal investigation.”
In December of 2001, the government found it “undesirable and unnecessary” to release publicly the details of the cabinet decision to split the Sundance B Power Purchase Arrangement. Enron quickly sold this generation capacity in 10 days to AltaGas Service Inc. for $220 million.
In October of the same year, Enron’s corporate lawyers demanded and instructed the secret changes to the deal to senior government officials which facilitated the sale of Sundance B power purchase arrangements. These arrangements provide some of the lowest cost electricity in Alberta with an all-in cost of less than 2.5 cents
per kilowatt-hour.
The average electricity price for 2001 in Alberta was 7.15 cents per kilowatt-hour. “Where was the benefit for consumers in this sweetheart deal?” asked MacDonald. While the Alberta government was catering to Enron’s demands, south of the border, American authorities were starting to conduct investigations into the fraudulent activities of Enron.
“While Enron was calling the shots in our government, consumers were being gouged by electricity deregulation,” said MacDonald. “Only through a full independent public inquiry will it be revealed why this government was so anxious to take orders from Enron at considerable expense to Alberta electricity consumers. Albertans demand to know why our cabinet chose to follow Enron’s instructions word for word at the
same time Enron was under investigation for price fixing and fraud in America.”
Conservative Cabinet’s Secret Deal With Enron Revealed
Another reason for a full independent public inquiry into electricity
deregulation
Gosh, I expect this will be a big story do ya think
Edmonton – Alberta Liberal Energy Critic Hugh MacDonald revealed today the extent to which the Progressive Conservative government went to conceal their secret relationship with disgraced electricity trader Enron.
“What I have here is proof of Enron’s direct influence over the Conservative government to best serve Enron’s own financial needs,” said MacDonald. “And the Alberta government readily agreed to accommodate their demands even when they knew of Enron’s pending financial collapse and criminal investigation.”
In December of 2001, the government found it “undesirable and unnecessary” to release publicly the details of the cabinet decision to split the Sundance B Power Purchase Arrangement. Enron quickly sold this generation capacity in 10 days to AltaGas Service Inc. for $220 million.
In October of the same year, Enron’s corporate lawyers demanded and instructed the secret changes to the deal to senior government officials which facilitated the sale of Sundance B power purchase arrangements. These arrangements provide some of the lowest cost electricity in Alberta with an all-in cost of less than 2.5 cents
per kilowatt-hour.
The average electricity price for 2001 in Alberta was 7.15 cents per kilowatt-hour. “Where was the benefit for consumers in this sweetheart deal?” asked MacDonald. While the Alberta government was catering to Enron’s demands, south of the border, American authorities were starting to conduct investigations into the fraudulent activities of Enron.
“While Enron was calling the shots in our government, consumers were being gouged by electricity deregulation,” said MacDonald. “Only through a full independent public inquiry will it be revealed why this government was so anxious to take orders from Enron at considerable expense to Alberta electricity consumers. Albertans demand to know why our cabinet chose to follow Enron’s instructions word for word at the
same time Enron was under investigation for price fixing and fraud in America.”
