Energy

  • March 28, 2006

    Ex-Enron Accountant, Lawyer Settle SEC Charges

    A former Enron Corp. accountant and a former lawyer have agreed to pay $30,000 each in response to U.S. Securities and Exchange Commission civil fraud charges over a scheme to inflate Enron’s earnings.

  • March 28, 2006

    Suez Looks To EC For Help With Enel

    French energy company Suez SA has looked to European Commission regulators for help in its battle against a possible takeover by Italian company Enel SPA. Suez filed a complaint with the Commission alleging that Enel policies illegally protect it from takeover.

  • March 27, 2006

    French Utility Spurns Belgian Sell Off Demands

    Suez SA, the French utility set to merge with Gaz de France SA, has rebuffed demands calling for the energy company to sell off its assets in Belgium—a condition some critics of the tie-up say is necessary for the blockbuster deal to go through.

  • March 27, 2006

    E.On Seeks Green Light From Spain In Endesa Battle

    Forging ahead with its bid to acquire Spain’s biggest energy utility, German energy giant E.On AG has formally requested regulatory clearance from Spanish authorities for its €29.1 billion takeover offer.

  • March 23, 2006

    Court Vindicates EC's Merger Review Procedure

    More than four years after a blocked merger embarrassed the European Commission, the European Court of Justice has partially vindicated the regulator in a lawsuit filed by French electrical equipment maker Schneider Electric SA.

  • March 23, 2006

    Court Cuts Acadia Loose From Calpine Energy Contracts

    After an earlier plea from Acadia Power Partners LLC that bankrupt power generator Calpine Corp. was forcing it into a state of financial distress, a federal bankruptcy judge ruled Thursday that Acadia can cut its ties from Calpine and sell its energy to other utilities.

  • March 23, 2006

    Circuit Court Reverses Stolt-Nielsen Injunction

    In a landmark case that tests the boundaries of the U.S. government's amnesty program, a federal appeals court has reversed a lower court injunction blocking the U.S. from indicting a transportation service company in connection with antitrust violations in the tanker industry.

  • March 22, 2006

    Honeywell Accused Of Monopolizing Chemical Market

    Honeywell International Inc. is facing a federal antirust lawsuit for allegedly using monopoly power in a niche chemical industry to break a pricing agreement with its biggest customer for the product.

  • March 22, 2006

    Enron's Ex-Treasurer Points Finger At Lay, Skilling

    Desperate to keep Enron Corp.'s investment credit rating high, the energy giant’s top executives hatched a plan to restrict write offs and embrace increased trading risks, Enron’s former treasurer testified on Wednesday.

  • March 22, 2006

    In E.U. Energy Debate, Power Struggle Runs Deep

    The European Commission’s shake-up of the gas and electricity markets in Europe has been met with support and dissent alike. But one thing is clear: the efforts are tapping into fundamental questions over the authority of independent member states versus the union’s executive body.

  • March 21, 2006

    Calpine Seeks Control Over Ch. 11 Plan Through 2006

    Suggesting that its stint in bankruptcy court could stretch into 2007, power generator Calpine Corp. is looking to extend its Chapter 11 plan through 2006.

  • March 21, 2006

    Brazil Opens Cartel Probe Into European Firms

    The Brazilian government has opened two probes into European and Japanese power distribution companies, exploring whether the firms engaged in price fixing for equipment used to generate electricity in the country.

  • March 21, 2006

    Spanish Court Backs Endesa, Suspending Gas Natural Bid

    A move by Spain's largest electricity supplier to stave off a hostile takeover bid by Gas Natural SDG SA has been upheld by a Spanish commercial court, which this week temporarily suspended Gas Natural's €22.6 billion offer while it investigates Endesa's appeal against the bid.

  • March 20, 2006

    Belgian PM To Hold Talks On GDF-Suez Merger

    Belgian Prime Minister Guy Verhofstadt plans to hold discussions with the French energy utilities Gaz de France SA and Suez SA in order to obtain market concessions on their blockbuster merger deal.

  • March 17, 2006

    Belgian PM Continues Battle Against French Utilities

    Belgian Prime Minister Guy Verhofstadt, worried that the impending merger between French utilities Gaz de France SA and Suez SA would dominate his country’s energy market, has asked the European Competition Commissioner Neelie Kroes to investigate the matter.

  • March 17, 2006

    DOJ Amnesty Behind Chemical Subpoenas: Expert

    With the Department of Justice issuing more subpoenas to chemical companies this week, the latest requests suggest that the DOJ’s amnesty program has become an increasingly effective tool in antitrust investigations, one expert speculates.

  • March 16, 2006

    EC Asserts Jurisdiction In Proposed E.On Merger

    The European Commission has affirmed that merger laws give it the authority to review the proposed takeover of Spain’s Endesa SA by Germany’s E.On AG. The same laws had prevented the EC from reviewing the proposed merger of Endesa and Barcelona-based Gas Natural last year.

  • March 16, 2006

    USG Seeks To Acquire Paper Mill for $18M

    Hoping to gain a competitive edge in the construction material industry, USG Corp. has asked a bankruptcy court to allow it to fund the $18 million purchase of a Michigan paper mill through a new subsidiary.

  • March 16, 2006

    WCI Steel Claws Its Way Back From Bankruptcy

    WCI Steel Inc. said on Wednesday that the company is moving closer to fiscal solvency, saying it would give noteholders a majority stake and possibly dish out up to $25 million to safeguard a pension plan in the hopes of ending its three-year bankruptcy ordeal.

  • March 15, 2006

    E.U. Officials Divided Over Energy Regulator Proposal

    Amid a growing sensitivity to energy prices and national protectionism across the continent, the first full debate on whether the European Union should adopt a bid by the European Commission to instate a single regulator to oversee the country’s €250 billion electricity and natural-gas markets has left energy ministers divided.