|
News
|
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
|
|
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
|
|
|
Industry News
Andersen Chief: Enron Withheld Data, We Erred
LCG, Dec. 12, 2001--Joseph Berardino, chief executive of Enron Corp.'s long-time auditors Arthur Andersen LLC, told Congress this morning that Enron had withheld critical financial information that was at the heart of the company's ultimate collapse.Berardino also said his own company was not without fault when it came to a "special-purpose entity" set up by Enron. "We made a professional judgment about the appropriate accounting treatment that turned out to be wrong," he told the House of Representatives Financial Services Committee.He also said that his company had complained to Enron about missing information and had warned the energy company's audit committee about possible "illegal acts.""It is not clear why the relevant information was not provided to us," Berardino said. "We notified Enron's audit committee of possible illegal acts within the company."Many of the investigations into Enron's flameout are focused on certain "off-balance-sheet" financial arrangements. Berardino mentioned one of these, a financing vehicle called Chewco, saying Enron kept Andersen in the dark about it. Had Enron told Andersen of the agreement, the auditors would have required that is and similar arrangements be included on the balance sheet, Berardino said.Though Securities and Exchange Commission Chairman Harvey Pitt had declined to testify before the panel, the SEC was represented by its chief accountant Robert Herdman, though he declined to provide lawmakers with the details of his agency's investigation of Enron.He said the SEC investigation was a work in progress and told the panel "In the coming weeks and months, we will learn more about what transpired at Enron, as many of the details are unknown at this time."The off-balance-sheet entities were managed by Enron's former chief financial officer Andrew Fastow who, according to a company filing with the SEC, made $30 million in connection with them. Another House panel, the Energy and Commerce Committee, wants to talk to him about those entities but has been unable to find him.Committee spokesman Ken Johnson said yesterday "If he does not voluntarily agree to meet with us, then the next step would be to subpoena him to appear at a hearing before our committee."Last week, a lawyer for Amalgamated Bank, which handles employee retirement funds, said Fastow had fled the country, traveling to Israel by way of Canada. "He has not been out of the country and he has not bought tickets anywhere. That's an old rumor that does not bear repeating," said Fastow's attorney, Craig Smyser.But Johnson said Fastow's lawyers "are vague as to his whereabouts. (We have) contacted his home, his legal representatives and, quite simply, we cannot find him. We are troubled by his unresponsiveness so far. This is a very serious matter."
|
|
|
|
UPLAN-NPM
The Locational Marginal Price Model (LMP) Network Power Model
|
|
|
UPLAN-ACE
Day Ahead and Real Time Market Simulation
|
|
|
UPLAN-G
The Gas Procurement and Competitive Analysis System
|
|
|
PLATO
Database of Plants, Loads, Assets, Transmission...
|
|
|
|
|
