FERC accepts Enron settlement valued at 1.5 billion

The settlement allows unsecured claims of $875 million and imposes a $600 million civil penalty in favor of California, Oregon and Washington, and provides cash or cash equivalents of about $47.4 million.

FERC added that negotiations with other parties are continuing in an attempt to reach agreements with Houston-based Enron and the agency's staff involving market manipulation and overcharges during the 2000-2001 energy crisis.