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News
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LCG, August 14, 2024 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2025, highlighting the region's rapid transition toward increased reliance on renewable energy resources and battery storage.
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LCG, August 14, 2024 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2025, highlighting the region's rapid transition toward increased reliance on renewable energy resources and battery storage.
Read more
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Industry News
Enron Exposure - 89 Firms, $9 Billion
LCG, Dec. 10, 2001--The EnergyOnline Daily News unofficial and incomplete list of companies with exposure of one sort or another to the contagion spread by the collapse of Enron Corp. has grown to 89 firms with an aggregate exposure of more than $9 billion.In arriving at the $9 billion figure, we were adding apples, oranges, pomegranates and other fruity numbers. A company such as Aegon NV with $300 million in outstanding loans to Enron is facing a different sort of exposure than another company with exposure in the form of commodity hedges that may be nothing more than unrealized profit.The list was compiled from company press releases, news agency reports and articles in local and financial newspapers. We may have missed a few -- or a lot.- Abbey National Plc - 115 million pounds ($164 million U.S.).
- ABM Amro - 110 million euros ($98 million U.S.).
- Aegon NV (Netherlands) - loans of $300 million.
- AES Corp. - less than $15 million.
- Allegheny Energy Inc. - less than $5 million.
- Al Rajhi Banking and Investment Corp. (Saudi Arabia) - unsecured $101.3 million.
- Ameren Corp. - less than $10 million after tax.
- American Electric Power Co. - under $50 million.
- ANZ - $69 million.
- Aquila Inc. - less than $50 million.
- Axa - around 200 million euros ($179 million U.S.) in bonds.
- Bank of Montreal - $103 million.
- Bank of Tokyo-Mitsubishi 30.6 billion yen ($247.9 million U.S.).
- Barclays Bank - 400 million ($571 million U.S.) in the form of syndicated loans and derivatives.
- Bear Stearns Cos. Inc. - $69 million.
- Berry Petroleum Co. - net liability under $2 million.
- BP Plc - exposure "a couple of tens of million dollars," according to industrial observers.
- Canadian Imperial Bank of Commerce - $215 million, more than half of it unsecured.
- CBA (Australia) - 98 million Australian dollars ($50.5 million U.S.).
- Centrica Plc - 30 million ($42.8 million U.S.).
- Chubb Corp. - $220 million in maximum pre-tax exposure to surety bonds relating to Enron Corp.
- Citigroup Inc. - between $700 million to $800 million, about half unsecured.
- CNA Financial Corp. - $50 million in fourth-quarter after-tax losses related to the bankruptcy.
- Commerzbank AG - "low double-digit million dollar amount" exposure.
- Converium Holdings AG - $48 million post-tax exposure.
- Credit Agricole - $146.8 million of which $35.2 million is unsecured.
- Credit Lyonnais - $250 million, about half unsecured.
- Credit Suisse First Boston - $70.7 million unsecured claims.
- Denbury Resources - about $26 million.
- Deutsche Bank - maximum loss of tens of millions of dollars.
- Dexia, a Franco-Belgian banking group, - $30 million, two thirds covered by guaranteees.
- Dominion Resources Inc. - past credit exposure of $11 million.
- Duke Energy Corp. - $100 million in non-secured exposure.
- Dynegy Inc. - $75 million.
- El Paso Corp. - net trading exposure about $50 million.
- Energen Corp. - about $14 million.
- Exelon Corp.- net exposure less than $10 million.
- Fortis, a Dutch-Belgian financial services group - 76 million euros ($67.74 million U.S.).
- FPL Group - about $2 million.
- Genesis Energy - around $21 million.
- Hartford Financial Services Group Inc. - expects to record an after-tax capital loss of about $40 million.
- ING (The Netherlands) - about $195 million.
- International Power Plc - less than 2 million.
- IntesaBci, Italy's largest bank - 350 million euros ($313 million U.S.).
- J.P. Morgan Chase & Co. - $900 million, including $400 million in secured loans.
- John Hancock Financial Services Inc. - $320 million exposure to Enron's bonds, about one third secured.
- KBC Bancassurance - 49.4 million euros ($44.03 million U.S.).
- KCS Energy Inc. - around $3.8 million from hedges and oil and gas sold through Enron units.
- KeySpan Corp. - less than $4 million.
- MetLife Inc. - $63 million.
- Mirant - up to $60 million.
- Mitsubishi Trust & Banking - 4.8 billion yen ($38.76 million U.S.).
- NAB - $200 million ($103.3 million U.S.).
- National Fuel Gas - $10.4 million.
- NewPower Holdings Inc. - about $110 million
- Nicor Inc. - under $5 million.
- Northern Border Partners LP - $9 million over next year.
- NRG Energy Inc. - less than $10 million.
- Oneok Inc. - under $40 million before tax.
- Patina Oil & Gas - about $7.32 million.
- Peoples Energy Corp. - approximately $8 million.
- PG&E Corp.'s National Energy Group - uncollateralized exposure of about $8 million plus commodity hedge contracts with a market value of about $70 million based on forward prices.
- Pinnacle West Capital - $15 million before tax.
- PPL Inc. - less than $10 million.
- Principal Financial Group - $171 million, plus another $50 million from investments in Enron-related entities.
- Reliant Resources Inc. - approximately $80 million.
- Royal Bank of Scotland - 600 million ($856 million U.S.).
- RWE AG - 10-11 million euros ($9.77 million U.S.).
- Sanwa Bank - $44 million.
- Sempra Energy - less than $15 million.
- Seneca Resources Corp. - about $10.4 million.
- Societe Generale - $206 million.
- Sony Bank - $3 million.
- Spinmaker Exploration Co. - $3.4 million pre-tax.
- St. Paul Cos. - total about $108 million (insurance exposure about $85 million and unsecured debt about $23 million).
- Sumitomo Mitsui Banking Corp. - $210 million.
- TEPPCO Partners - $6 million on net basis.
- TotalFinaElf - $25 million.
- TXU (NYSE:TXU - news) less than $20 million after tax
- UBS - $74.3 unsecured claims against Enron North America.
- UtiliCorp United Inc. - two unsecured promissory notes totaling $31.5 million.
- Vintage Petroleum Inc. - $750,000, excluding exposure of an Enron unit that has not filed for bankruptcy.
- Westpac (Australia) - $51 million.
- Westport Resources - less than $3.2 million in commodity sales contracts.
- WGL Holdings - $1.7 million.
- Williams Cos. - net exposure less than $100 million.
- Wiser Oil - $6.1 million in 2001 and 2002 hedges.
- XTO Energy Inc. - $30 million, plus long-term derivative obligation that was booked as a liability at market value of $38 million.
- Zurich Financial Services - $100 million, 90 percent in bonds and 10 percent in equity.
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UPLAN-NPM
The Locational Marginal Price Model (LMP) Network Power Model
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UPLAN-ACE
Day Ahead and Real Time Market Simulation
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UPLAN-G
The Gas Procurement and Competitive Analysis System
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PLATO
Database of Plants, Loads, Assets, Transmission...
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