"Ricochet": Also called "megawatt classicon bbq ribs

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"Ricochet": Also called "megawatt laundering" (by analogy to money laundering), Ricochet was the power equivalent of a real-estate land flip: buy in-state power cheaply, flip it out-of-state to an intermediary, then re-sell it to bbq ribs California at a highly inflated "imported" price. There were others, but you get the general idea: the only "invisible hand" in this pseudo-free market -- heavily promoted by Enron and its lobbyist allies -- was Enron's. The Enron memos also say that traders from other companies (with even larger interests in the bbq ribs California market) were doing the same, and now the Federal Energy Regulatory Commission says it will force them to cough up the evidence. Yet California began complaining to FERC as early as May of 1999 that the big energy companies were manipulating the market for billions of dollars.
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