Running for cover
Enron’s collapse has meant many of Australia’s energy participants have scaled back trading operations, with foreign players pulling out of the market and domestic firms looking closely at credit risk. Mia Trinephi reports
The effect of US energy firm Enron’s collapse late last year on Australia’s energy market ranges from catastrophic to negligible depending on who is talking. Some market observers point to a drastic fall in liquidity in the traded electricity market; others say there are other structural issues in the Australian market that have had a greater impact on the market, such as government arrangements between its own generators and retailers.
But most point out that, eight months on, it is
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