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BRIEF-Just Energy Files For Relief Under Ccaa In Canada And Chapter 15 In U.S. And Has Arranged Us$125 Million Debtor In Possession Financing

Published 2021-03-09, 11:49 a/m
Updated 2021-03-09, 11:54 a/m
© Reuters.

March 9 (Reuters) - Just Energy Group Inc JE.TO :

* FOLLOWING UNPRECEDENTED WINTER STORM IN TEXAS, JUST ENERGY FILES FOR RELIEF UNDER CCAA IN CANADA AND CHAPTER 15 IN U.S. AND HAS ARRANGED US$125 MILLION DEBTOR IN POSSESSION FINANCING

* JUST ENERGY GROUP INC - STAY OF PROCEEDINGS IN FAVOUR OF JUST ENERGY HAS AN INITIAL TERM OF 10 DAYS, SUBJECT TO EXTENSION AS COURT DEEMS APPROPRIATE

* JUST ENERGY - FILINGS ENABLE CO TO CONTINUE ALL OPERATIONS WITHOUT INTERRUPTION THROUGHOUT U.S. AND CANADA, CONTINUE MAKING PAYMENTS REQUIRED BY ERCOT

* JUST ENERGY GROUP INC - FILINGS HAVE NO IMPACT ON CUSTOMER BILLS

* JUST ENERGY GROUP - FILINGS ARE RESULT OF CORRESPONDING CHARGES FROM ERCOT CURRENTLY TOTALING OVER US$250 MILLION THAT JUST ENERGY MUST PAY IN NEAR TERM

* JUST ENERGY - RECEIVED A STAY OF PROCEEDINGS AND OTHER PROTECTIONS PROVIDED BY CCAA IN ORDER TO PROVIDE CO WITH BREATHING ROOM TO PURSUE ALTERNATIVES

* JUST ENERGY GROUP INC - TOTAL FINANCIAL IMPACT MAY CHANGE DUE TO ERCOT RESETTLEMENTS, POTENTIAL ORDERS OF PUBLIC UTILITY COMMISSION

* JUST ENERGY GROUP - CO'S LARGEST COMMODITY SUPPLIERS HAVE AGREED TO CONTINUE TO SUPPORT CO WITH COMMODITY SUPPLY AND ISO SERVICES

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