Post by
GaillardDeshaie on Feb 23, 2021 8:56am
What can be the real impact to JE from Weather Event in Texa
Hello investors, this is not for speculators BTW. What can be the real impact to JE from Weather Event in Texas? Well, JE got around 1 million of customers mainly in North America, over 6 provinces in Canada and 14 states in USA. Without knowing how many customers only in Texas, if we estimated that from 1 millions customers between 20 business area, it will be an average of 50,000 customers per province/states. Let's say they have 75000 customers in Texas. From there, how many were on fix rate? Probably nearby 60%, your guess is as good as mine, so it is around 45000 customers. If the company announced earlier this week, they might have a lost of $230m that's mean the lost for each consumers will be over $5000!!! for 5 days of Weather event. Which is $1000 per day per consumers. For me, it make no sense. So, feel free to give me a good explanation of what can be else. IMHO. GLTA on Friday Q3 results and later news on the Weather Event. Gaillard
Comment by
pointer on Feb 23, 2021 9:25am
This post has been removed in accordance with Community Policy
Comment by
Capharnaum on Feb 23, 2021 1:02pm
Customers that weren't on fixed price said they had $16k bills from the event... Here's a link that talks about the issue: https://www.bbc.com/news/world-us-canada-56147311
Comment by
pjn0987654321 on Feb 23, 2021 1:12pm
If JE has to pay $16k per customer, I can see why they issued a going concern warning.
Comment by
GaillardDeshaie on Feb 24, 2021 7:14am
Thanks Chris007 for your really good explanation. So, as long as we don't know how many customers in Texas with fix rate and how JE made his commitment with his supplier we might have a really bad surprise. As per some comments before on this board, JE doesn't have snymore an insurance in case of Weather event like this, hope they have one!!! GLTA. Gaillard.