Monday, February 13, 2012 - New York, NY
FOR IMMEDIATE RELEASE
NYSE Listing Latest Milestone in Growth Trajectory of Just Energy
New York, New York, February 13, 2012 - Just Energy Group Inc. (NYSE: JE; TSX: JE) senior executives were in New York today to open trading on the New York Stock Exchange (NYSE) and mark an important milestone in the company's history as it officially listed and commenced trading on the NYSE on January 30, 2012.
Just Energy is a leading competitive retailer of natural gas, electricity and green energy to end customers in North America. The company has experienced a substantial growth rate across the U.S. where now more than 50 percent of the Company's sales take place. Over the past five years, the compound growth in customers, sales and margin has been over 70 percent.
The fastest growing segment of utility supply is deregulated competitive sales. Just Energy is among the largest players, and expects to become the largest 'pure player' in this particular growth sector. Where a number of other publicly traded companies in the industry have their deregulated supply divisions as smaller parts of a larger utility or generator, Just Energy is a pure competitive supplier in the deregulated utility space.
"We look forward to the opportunity to broaden our investor base and bring the Just Energy story to U.S. investors" said Ken Hartwick, CEO and President of Just Energy. "Access to deep U.S. capital markets will help support further expansion. Our continued growth will enable us to meet the changing needs and wants of energy consumers across North America, as well as contribute to job creation, regional investment, and energy sustainability and conservation programs."
"Our path to the New York Stock Exchange began in a single market as a zero base start-up in 1997" said Rebecca MacDonald, Co-founder and Executive Chair of Just Energy.
"Today, with 1.8 million customers and $3 billion in revenues, we are very proud of the distance Just Energy has travelled, and we are excited about the opportunities that our listing will help generate in terms of the value to investors as well as customers."
About Just Energy
With a vision to revolutionize how our customers use energy, Just Energy is a leading competitive North American retailer of natural gas, electricity and green energy.
With regional offices across Canada and the U.S., Just Energy serves 1.8 million residential and commercial customers through a wide range of energy programs and home comfort services. The company's simple and effective green energy options provide consumers with greater choice and control to help them reduce the environmental impact of their everyday energy use. Established in 1997, Just Energy Group is a publicly traded corporation (NYSE:JE and TSX:JE) and parent to affiliate companies: Amigo Energy, Commerce Energy, Hudson Energy, Hudson Energy Solar, National Home Services, Momentis, Tara Energy and Terra Grain Fuels. Visit www.justenergy.com to learn more.
Just Energy's press releases may contain forward-looking statements including statements pertaining to customer revenues, margins, additions and renewals. 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 dividends are included in Just Energy's annual information form and other reports on file with securities regulatory authorities which can be accessed through the SEDAR website at www.sedar.com, the Securities Exchange Commission website at www.sec/govor through Just Energy's website at www.justenergygroup.com. The Toronto Stock Exchange and New York Stock Exchange have neither approved nor disapproved of the contents of this release.
Ms. Beth Summers, C.A.
Chief Financial Officer
Phone: (905) 795-4206