Briefly

Sale of Retail Supplier Alpha Gas & Electric Consummated

The sale of retail supplier Alpha Gas & Electric, LLC to Ketana Partners, LLC and David Wanounou was consummated on July 25, Alpha Gas & Electric informed FERC yesterday. As previously reported, Ketana is owned by Harvey Klein and Israel Orzel, who each own 10 percent or greater of the equity interests in HIKO Energy, LLC, a retail energy supplier that provides gas and power to residential and commercial customers in New York and New Jersey.

Just Energy Subsidiary Enters Credit Agreement

Just Energy Group Inc. announced today that its subsidiary's solar business (Hudson Solar) has entered into a USD$30 Million credit agreement with Macquarie Bank Limited. Advances under the credit facility will be used to assist with the construction of solar projects. The credit facility has a two year term, under which advances will be made in connection with interconnected solar projects located in the United States (currently, New Jersey, Pennsylvania and Massachusetts). Advances will bear interest, payable quarterly, at a rate of either LIBOR plus 7.9% or the "prime rate" as published in the Eastern Edition of the Wall Street Journal plus 6.9%. The credit facility may be increased from time to time upon agreement by Macquarie. Ken Hartwick, Just Energy's President and CEO stated, "We have aggressive growth plans ahead and believe that this additional funding will help us continue to achieve our goals."