Trash agency makes last Enron-related loan payment

February 18, 2008 5:20:16 AM PST
The quasi-public trash agency that lost $220 million in a deal with Enron Corp. says it has made the final payment on a $21.5 million state loan used to fill the hole left by the failed deal.Officials with the Connecticut Resources Recovery Authority say the payment was made Friday.

Under the 2001 deal, Enron agreed to buy power produced at CRRA's trash-to-energy plant in Hartford and pay the agency nearly $2.4 million a month for more than 11 years.

Under the agreement, CRRA transferred $220 million to Enron. CRRA officials called it a legitimate energy transaction, but Attorney General Richard Blumenthal called it an illegal loan.

Enron went bankrupt in December 2001 when it could no longer hide billions of dollars in debt. The collapse wiped out thousands of jobs and several Enron executives were sent to prison.


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