[C6.] REVISING ENERGY CONTRACTS The Kazakhstan Parliament took steps to grant the government the right to alter or cancel international energy contracts unilaterally should they run counter to the country's interests.
It is one of largest commercial clean energy contracts yet.
Some businesses have responded by changing the way they manage their energy contracts.
Billions of dollars in energy contracts are pegged to indexes like those produced by Platts.
Any new energy contracts should wait until Iraq produces a new hydrocarbon law, possibly sometime in the new year.
Indeed, Enron notoriously made use of fair-value accounting to manipulate the worth of its energy contracts.
As early as 1992, it allowed Enron to use "mark-to-market" accounting to value its energy contracts.
Meanwhile, the LCH has applied to extend its American licence beyond clearing energy contracts for IntercontinentalExchange, an electronic exchange.
The settlement stems from claims that an NRG subsidiary overcharged the state for long-term energy contracts.
The initial plan for the power deal, the executives said, was to create a kind of mirror swap in which Enron would purchase energy contracts from Merrill and Merrill would simultaneously purchase energy contracts from Enron.
Cables detail allegations of "lavish gifts", lucrative energy contracts and the use by Berlusconi of a "shadowy" go-between.
