Enron in settlement over California claim

Enron, the energy trader that filed the second-largest US bankruptcy, has agreed to a US$1.52 billion ($2.25 billion) settlement to resolve California claims that the company drove up prices during the state's energy crisis of 2000 and 2001.

The agreement includes a US$47.5 million cash payment and $1.475 billion in claims in Enron's bankruptcy case.