Just Energy Group Inc. (Canada) JENGQ

ERCOT and PUCT lawsuit.

[GaillardDeshaie]

Hi everyone, anyone have a comment on this?

If a bill was passed to do a resseltment why JE have to take action in Justice to get his money back?
Merci beaucoup.

Gaillard

 

Just Energy sues ERCOT, PUCT over Texas storm payments

 

2021-11-12 17:40 ET - News Release

 

Mr. Boyd Erman reports

JUST ENERGY INITIATES LITIGATION AGAINST ERCOT AND THE PUCT IN TEXAS BANKRUPTCY COURT

Just Energy Group Inc., along with its affiliates Just Energy Texas LP, Fulcrum Retail Energy LLC and Hudson Energy Services LLC, initiated a lawsuit against the Electric Reliability Council of Texas (ERCOT) and the Public Utility Commission of Texas (the PUCT) in the United States Bankruptcy Court for the Southern District of Texas. The lawsuit seeks to recover payments that were made by the Just Energy parties to ERCOT for certain invoices relating to February, 2021, when a historically severe winter storm known as Winter Storm Uri severely impaired Texas's power-generating resources. As previously reported, the Just Energy parties and certain of their affiliates commenced cases under Chapter 15 of the United States Bankruptcy Code on March 9, 2021, in the Texas Bankruptcy Court.

FTI Consulting Canada Inc. (the monitor) is overseeing the company's proceedings under the Companies' Creditors Arrangement Act (CCAA) as the court-appointed monitor. Further information regarding the CCAA proceedings and the lawsuit is available at the monitor's website. 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 e-mail at [e-mail].

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.

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd. All rights reserved.

[Capharnaum]

Only guessing here, but they are trying to get back other costs than what the bill passed provided?

[navajojoe]

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[GaillardDeshaie]

Well, if JE upper management including Mr.Gahn, who worked before at ERCOT, are thinking ERCOT owned money to JE, they have no choice to take actions in court unfortunately.  Nobody will criticize a fireman to put too much water on a house in fire... GLTA....Bon VinDredi...Cheers..Gaillard

[SlickRick40]

Definitely a fire here. Retail day traders are throwing their money into the flames. Going to zero. Been warning you for over ten years.

[navajojoe]

This post has been removed in accordance with Community Policy