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| Facts about Enron |
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| Enron had been one of the world's largest
energy, commodities and services companies. It marketed electricity
and natural gas, delivered energy and other physical commodities,
and provided financial and risk management services to customers
worldwide. Based in Houston, Texas, Enron was formed in July 1985
by the merger of
Houston Natural Gas and InterNorth of Omaha, Nebraska. Initially a
natural gas pipeline
company, Enron rapidly evolved from delivering energy to brokering
energy futures as
energy markets were deregulated. The company began marketing electricity
in 1994 and
entered the European energy market in 1995. In 1999, Enron launched
a plan to buy and
sell access to high-speed Internet bandwidth, and it launched EnronOnline,
a Web-based
commodity-trading site, making it an e-commerce company. The company
reported
revenues of $101 billion in 2000. It has stakes in nearly 30,000 miles
of gas pipeline, owns or has access to a 15,000-mile fiber optic network, and has a stake
in electricity generating
operations around the world. |
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