Enron fallout damages performance of utilities

Fallout from the Enron scandal continues to affect the US utilities sector with performance of the sector down against the S&P 500. Utility companies have massively underperformed the S&P 500 this year with total return for the year to date standing at -71.05%, well below the return generated by the S&P 500 index for the same period. Indeed, the multi-utilities sector, comprising seven companies, is the worst performing sector within the S&P 500 for the year to date, with an overall performance of -71.07%. All but two of the companies, Duke Energy and El Paso Corporation were among...