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Enron's core North American wholesale energy trading operation, responsible for gas and power trading across the United States, Canada, and South America, which was reorganized as NetCo and sold to UBS Warburg following the December 2001 bankruptcy.
The renamed successor to Enron Capital & Trade Resources, Enron North America operated from September 1999 to early 2001 as Enron's largest and most profitable wholesale energy trading operation, generating billions in revenue while concealing over $1 billion in accounting fraud through hidden reserve accounts.
The umbrella division consolidating Enron's global wholesale trading operations, Enron Wholesale Services generated over 93% of the company's revenue by late 2000 and represented the organizational culmination of Enron's transformation from pipeline operator to the world's largest energy trader.