While much of the country enjoyed a record-breaking mild winter, some weather-exposed businesses were less enthusiastic about the warmer temperatures, which – in some cases – resulted in financial losses. However, through strategic planning prior to the winter months, Just Energy managed to stay in the black. Even though many key markets experienced a notable decline in gas consumption, a weather hedge that Just Energy set up for the winter season acted as a safety net to help ensure profitable results for the period.
Executive Chair Rebecca MacDonald stated, “Many of our shareholders look to Just Energy as an important source of steady predictable income. This will not change. While the past year saw unfavorable weather conditions for our operating results, we were able to meet our guidance and continued to pay our $1.24 dividend.”
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