In addition, the company began to ramp up its electric power and natural gas efforts.
In 19, the company began adding power plants and cogeneration units to its portfolio.
Before its bankruptcy on December 2, 2001, Enron employed approximately 20,000 staff and was one of the world's major electricity, natural gas, communications and pulp and paper companies, with claimed revenues of nearly 1 billion during 2000.
In addition, with the passing of the Natural Gas Policy Act of 1978, the Texas market was more difficult to profit from and as a result the profits of HNG fell. In 1984, Kenneth Lay succeeded Matthews and inherited the troubled, but large diversified energy conglomerate.
The scandal also brought into question the accounting practices and activities of many corporations in the United States and was a factor in the enactment of the Sarbanes–Oxley Act of 2002.
The scandal also affected the greater business world by causing the dissolution of the Arthur Andersen accounting firm.
At the end of 2001, it was revealed that its reported financial condition was sustained by institutionalized, systematic, and creatively planned accounting fraud, known since as the Enron scandal.
Enron has since become a well-known example of willful corporate fraud and corruption.