Utility Opts For $18M Settlement With Enron

Law360, New York (July 16, 2007, 12:00 AM EDT) -- A Washington state public utility has agreed to pay Enron Corp. $18 million to settle a contract dispute stemming from the California energy crisis, opting to strike the deal instead of enduring arbitration that could force the utility to shell out $180 million.

The Snohomish County Public Utility District on Friday announced that it was satisfied and relieved to have avoiding the pending arbitration, as was required under its contract with the bankrupt energy provider. The wrangle started when the PUD killed its agreement with Enron...
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