For Immediate Release
Monday, July 23, 2012
Toronto, ON, July 23, 2012: The Just
Energy Group Inc. (NYSE:JE, TSX:JE), a
leading competitive retailer of natural gas, electricity and green
energy in North America, announced today its entry into the
commercial UK energy market through its
subsidiary, Hudson Energy Supply UK Limited.
Specializing in customized index and fixed price energy products,
Hudson Energy is a business‐to‐business supplier of electric power
and natural gas commodities.
With its leading edge technology, Hudson Energy brings agility
and flexibility to the market, as well as an experienced UK
management team. Brokers will have instant access to customer
pricing information that enables them to generate comparative rates
for customers within minutes as opposed to days, which is typical
in today's market. For the UK business customer, this enables them
to take advantage of market conditions and offers a significant
improvement in the accessibility and transparency of pricing
The entry into the UK market is the first step beyond North
America for Just Energy. "We believe the UK market has the ideal
characteristics for our entry into Europe" said Deborah Merril,
President of Hudson Energy. "It has well established market rules
that ease our entry into the commercial market through Hudson. Once
established, it is a logical next step to enter the residential
market, and then broaden our offerings to other countries in
"Our move into the UK energy market is a
natural step in the evolution of our company. We have leveraged our
strong North American supplier relationships to support our entry
and many of our North American brokers also serve customers in the
UK" says Ken Hartwick, Just Energy's President and Chief Executive
Officer. "Our Hudson business unit has been a major contributor to
our North American growth over the past two years leading to
unprecedented customer additions and margin growth. We have
committed substantial investment to develop our entry into Europe
and we are very excited to see that it is now going to begin adding
new customers to the Just Energy family. European operations stand
to be the next growth engine for the Just Energy story."
The new Hudson Energy UK office is located at Avebury House,
219‐225 Avebury Boulevard, Milton Keynes.
Just Energy Group Inc.
Just Energy's business primarily involves the sale of natural
gas and/or electricity to residential and commercial customers
under long‐term fixed‐price, price‐protected or variable‐priced
contracts and green energy products. By fixing the price of natural
gas or electricity under its fixed‐price or price protected
program contracts for a period of up to five years, Just Energy's
customers offset their exposure to changes in the price of these
essential commodities. Variable rate products allow customers to
maintain competitive rates while retaining the ability to lock into
a fixed price at their discretion. Just
Energy, which commenced business in 1997, derives its margin or
gross profit from the difference between the price at which it is
able to sell the commodities to its customers and the related price
at which it purchases the associated volumes from its suppliers.
Just Energy also offers "green" products through its JustGreen and
In addition, through National Home Services, Just Energy sells
and rents high efficiency and tankless water heaters, air
conditioners and furnaces to Ontario residents. Through its
subsidiary Terra Grain Fuels, Just Energy produces and
sells wheat‐based ethanol. Just Energy has also launched Hudson
Solar, a solar project development platform in New Jersey.
Just Energy's press releases may contain forward‐looking
statements including statements pertaining to customer revenues and
margins, customer additions and renewals, customer attrition,
customer consumption levels, general and administrative expenses,
dividends, and treatment under governmental regulatory regimes.
These statements are based on current expectations that involve a
number of risks and uncertainties which could cause actual results
to differ from those anticipated. These risks include, but are not
limited to, levels of customer natural gas and electricity
consumption, rates of customer additions and renewals, rates of
customer attrition, fluctuations in natural gas and electricity
prices, changes in regulatory regimes and decisions by regulatory
authorities, competition and dependence on certain suppliers.
Additional information on these and other factors that could affect
Just Energy's operations, financial results or dividend levels
are included in Just Energy's annual information form and other
reports on file with Canadian securities regulatory authorities
which can be accessed through the SEDAR website at www.sedar.com,
on the U.S. Securities Exchange Commission's website at www.sec.gov
or through Just Energy's website at www.justenergygroup.com.
Neither the Toronto Stock Exchange nor the New York Stock
Exchange has approved nor disapproved of the information contained
FOR FURTHER INFORMATION PLEASE CONTACT:
Ms. Rebecca MacDonald
Phone: (416) 367‐2872
Mr. Ken Hartwick, C.A.
Chief Executive Officer & President
Phone: (905) 795‐3557
Ms. Beth Summers, C.A.
Chief Financial Officer
Phone: (905) 795‐4206