An unregulated division of PG&E Corporation engaged in deceptive energy trading practices during the state´s power crisis, according to documents filed yesterday. In its quarterly report to the federal Securities and Exchange Commission, San Francisco-based PG&E says its National Energy Group participated in at least 44 transactions designed to create the appearance of energy trades. Those transactions occurred from January 2000 through May of this year. PG&E said it banned the practice after uncovering the transactions during an internal investigation.
This post was last modified on 01/31/2009 5:32 pm