Dynegy Admits to Releasing Phony Natural Gas Prices to

Oil Daily, The, September, 2002

Dynegy Admits to Releasing Phony Natural Gas Prices to Reporters

Any hope that the credibility of energy merchants had hit its nadir evaporated late Tuesday when Dynegy admitted that employees had provided phony price information to trade publications, including Oil Daily's sister publication Natural Gas Week.

The admission that the data used to calculate index prices the various publications calculate comes on top of prior revelations of phony trading volumes, overstated earnings, and other misleading financial and operating data.

Dynegy did not disclose the number of employees involved, when the improprieties occurred, or what geographies were affected by the release of false natural gas price data on the US market. The company said it discovered...