Flash: Just Energy Net Customer Growth Down Slightly on Record Gross Additions

Just Energy saw record gross customer additions from March 31, 2013 to June 30, 2013, but net customer growth was down slightly versus the net growth seen from December 31, 2012 to March 31, 2013.

As of June 30, 2013, Just Energy was serving 4.302 million energy marketing Residential Customer Equivalents (RCEs), up from 4.222 million as of March 31, 2013, and 3.977 million a year ago.

The net growth of 80,000 RCEs from March 31, 2013 to June 30, 2013 compares to growth of 98,000 RCEs from December 31, 2012 to March 31, 2013.

Gross additions of energy marketing RCEs during the three months ended June 30, 2013 were a record 364,000 RCEs, while attrition was 145,000 RCEs, and 139,000 RCEs failed to renew.

Just Energy said that its traditional sales force was augmented by strong results from telemarketing, internet sales and network marketing. Traditional door-to-door marketing accounted for 35% of consumer and commercial energy marketing additions during the three months ended June 30, 2013, while non-door-to-door channels contributed the remaining 65%.

As of June 30, 2013, Just Energy was serving 1.207 million mass market electric RCEs, versus 1.198 million as of March 31, 2013.

As of June 30, 2013, Just Energy was serving 785,000 mass market natural gas RCEs, versus 791,000 as of March 31, 2013.

As of June 30, 2013, Just Energy was serving 2.310 million commercial RCEs (aggregate electric and gas), versus 2.233 million as of March 31, 2013.

Just Energy is holding an earnings call today.