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 1990s: Market making
 Creating a commodities business on Energy Alley

In a few short years, Enron became a massive player in the US energy market, controlling at its height a quarter of all gas business.

Buoyed by the success, the company went on to create markets in myriad energy-related products.

Enron began to offer companies the chance to hedge against the risk of adverse price movements in a range of commodities including steel and coal. By the end of the decade it had expanded its trading arm to include hedging against external factors such as weather risk.

Enron was not the only company in the game but through its Enrononline trading arm it was becoming the biggest on what was dubbed Energy Alley - 90% of its income came from trades.

Jeff Skilling wanted to rid Enron of its last physical assets but the company was also expanding internationally, moving into water in the UK and power generation in India.

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