TORONTO, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Just Energy Group Inc. (“Just Energy” or the “Company”) (TSXV:JE; OTC:JENGQ), announced today an update of the expected recovery by Just Energy from the Electric Reliability Council of Texas, Inc. (“ERCOT”) of certain costs incurred during the extreme weather event in Texas in February 2021 (the “Weather Event”) as previously disclosed, which is expected to be approximately USD $147.5 million. On December 7, 2021, ERCOT filed its calculation with the Public Utility Commission of Texas (the “PUCT”) in accordance with the PUCT final order implementing Texas House Bill 4492 (“HB 4492”). ERCOT’s calculations are subject to a 15-day verification period and accordingly, remain subject to change.
As previously reported, FTI Consulting Canada Inc. (the “Monitor”) is overseeing the proceedings of Just Energy under the Companies’ Creditors Arrangement Act (Canada) (“CCAA”) as the court-appointed monitor. Further information regarding the CCAA proceedings is available on the Monitor’s website at https://cfcanada.fticonsulting.com/justenergy. Information regarding the CCAA proceedings can also be obtained by calling the Monitor’s hotline at 416-649-8127 or 1-844-669-6340 or by email at justenergy@fticonsulting.com.
About Just Energy Group Inc.
Just Energy is a retail energy provider specializing in electricity and natural gas commodities and bringing energy efficient solutions, carbon offsets and renewable energy options to customers. Currently operating in the United States and Canada, Just Energy serves residential and commercial customers. Just Energy is the parent company of Amigo Energy, Filter Group, Hudson Energy, Interactive Energy Group, Tara Energy, and terrapass. Visit https://investors.justenergy.com to learn more.