Washington, D.C. - Today U.S. Rep. Rick Larsen (WA-02) applauded the conviction of Former Enron Corp. chiefs Kenneth Lay and Jeffrey Skilling for committing securities and wire fraud in a case that stems from one of the biggest business scandals in U.S. history.

“My constituents are still paying the penalty for Ken Lay and Jeffrey Skilling’s deplorable actions,” Larsen said.  “While today’s verdict closes the door on Ken Lay and Jeffrey Skilling, Snohomish County rate payers continue to struggle with high electricity rates and the repercussions of Enron’s actions,” he continued.

In fact, Enron is currently going through the Federal Energy Regulatory Commission (FERC) system in an attempt to retain an additional $122 million from Snohomish County electricity consumers.  Enron claims that they are owed a fee from the Snohomish Public Utility District (SnoPUD) for the termination of their contract to provide electricity.  SnoPUD contends the contract is void because the power was never delivered, and the agreement was entered into when Enron was illegally manipulating the electricity market to inflate rates.

“Enron and its executives illegally manipulated the energy market.  I will not be satisfied until my constituents get relief from high energy prices caused by Enron’s actions and are released from Enron’s ball-and-chain contracts,” said Larsen. 

Larsen spoke on the floor of the House of Representatives last night in support of an amendment to the Energy and Water Appropriations Bill introduced by Rep. Jay Inslee (WA-01).  Specifically, the amendment would prohibit the FERC from ‘enforcing any claim for a termination payment asserted by any regulated entity the Commission has found to have violated the terms of its market-based rate authority by engaging in manipulation of market rules or exercise of market power in the Western Interconnection during the time period January 1, 2000, to June 20, 2001.’

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