Just Energy: Not in Acquisition Mode

Having put all the pieces in place, Just Energy is not in acquisition mode and is instead focused on paying down debt, executives said in discussing earnings Friday.

In recent years, Just Energy has acquired the retail businesses of Fulcrum Power (Tara Energy, Amigo Energy), and Hudson Energy Services, and previously, Universal Energy.

"We've got all the pieces in place," said Executive Chair Rebecca MacDonald. "We do not need to buy anything anymore, and we are not in acquisition mode. We have no need for additional platforms."

Aside from organic growth, Just Energy is going to focus on debt reduction, with a disciplined and "slow and steady" plan.

Debt reduction, however, will not come at the expense of continued growth, MacDonald emphasized.

An analyst also asked Just Energy about partnering with larger consumer-based-type organizations (cable, telecom and similar firms) in customer acquisition and product rollout.

While Just Energy has an ongoing dialogue with such potential partners, CEO Ken Hartwick stressed that the company's effective sales organizations across different channels means that the company doesn't have to go to, "marginal partners that don't add long-term benefit."

"[W]e have the luxury of not needing to do that," Hartwick said.

Just Energy's customer growth during the three months ended June 30, 2013 was first reported by Matters on Friday (click here)