Manipulation methods, which are limited to the intelligence of mankind, should be considered as not only of price but also of trust in rules and markets. Manipulation in the electricity markets, which has been limited to the liberalization of the markets and the abuse of dominant power, has become a problem that has transformed and become more complicated with financial instruments in recent years. It is the subject of this article to tell the reader the basic logic behind the view of manipulation with the Enron case by explaining how the historical process took place in the USA.