The following editorial appeared in the June 3 issue of the King County Journal. It does not necessarily represent the views of The Spokesman-Review.

Enron has had a soiled reputation for years. Now we know just how dirty the energy company has played. Recently released transcripts show company energy traders openly discussed manipulating the California power market. It’s one more reason Enron needs to be severely penalized and made to compensate West Coast ratepayers for years of unjust profits.

Energy merchants regularly tape trader conversations to keep a record of transactions. Now, thanks to the Snohomish County Public Utility District, which obtained audiotapes of trader conversations from the Justice Department, we learn that traders openly discussed creating congestion on transmission lines and taking generating units off-line to pump up electricity prices and manipulate the California power market.

Tapes show traders even joked about sticking ratepayers with the bill, with one asking about “all the money you guys stole from those poor grandmothers of California.” An Enron trader responded, “Yeah, Grandma Millie, man. But she’s the one who couldn’t figure out how to (expletive) vote on the butterfly ballot.”

The energy crisis in 2000-2001 cost ratepayers in the West billions of dollars. Several California utilities faced bankruptcy because of huge jumps in power costs. Many blamed Enron, and the tapes confirm their suspicions.

John Forney, a former top trader in Enron’s defunct Western trading operation based in Portland, is slated to stand trial on charges of wire fraud and conspiracy. Two other former Portland traders, Timothy Belden and Jeffrey Richter, have pleaded guilty to one count of wire fraud and are helping prosecutors. Conversations that involve them appear throughout the transcripts.

The Northwest economy also was hit by rising power costs, and we’re still suffering with inflated prices that state businesses and ratepayers must pay due to market manipulation.

Gov. Locke, who asked for – but didn’t receive – federal intervention in early 2001 to stabilize the energy market, wants the long-term contracts that were established with exceptionally high power prices terminated or renegotiated. Rep. Jay Inslee wants Congress to compel the Federal Energy Regulatory Commission to compensate West Coast ratepayers. Both need doing, but Enron also must compensate West Coast utilities and ratepayers. They took billions from us. We want it back. self end