PUC Directs Retail Supplier Undergoing Reorganization Under Bankruptcy Code To Report On Ability To Serve Existing Customers, Enroll New Customers, Meet Collateral Obligations
March 24, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Updated, 4:40 pm ET
Just Energy provided the following statement concerning the matter:
"Just Energy intends to respond as required under the order.
As the company has consistently stated, the CCAA/Chapter 15 filings enable the company to continue to serve its customers and operate its business as usual"
--- Statement from Just Energy
The Public Utilities Commission of Ohio issued an order to Just Energy Solutions, Inc., and two of its
affiliates, Hudson Energy Services, LLC and Interactive Energy Group, LLC, to report on its ability to continue to serve customers, and other matters
Specifically, PUCO directed the Just Energy Companies to explain:
the Just Energy Companies plan, and are able, to continue to serve their existing customers
for CRES and CRNGS in this state;
(2) whether the Just Energy Companies plan, and are
able, to enroll new customers for CRES and CRNGS in this state;
(3) whether the Just Energy
Companies plan, and are able, to serve existing customers aggregated through government
aggregations in this state;
(4) whether the Just Energy Companies plan, and are able, to serve
new customers aggregated through government aggregations in this state; and
the Just Energy Companies have met their obligations to provide collateral or other financial
guarantees or other assurances to the electric and natural gas distribution utilities where the
Just Energy Companies continue to operate.
PUCO directed Just Energy to provide ongoing reports on these matters following an initial report
PUCO's directive is similar to those previously made to other suppliers which have entered bankruptcy protection
Just Energy has said in disclosing its reorganization filings that, "All Services to customers across Company’s North American operations continue without interruption," and that, "no impact on customers’ bills or daily operations expected".
As previously reported, Just Energy secured US$125 million in DIP financing, which the company has said enables Just Energy to continue all operations without interruption throughout the United States and Canada and to continue making payments required by ERCOT and satisfy other regulatory obligations.
PUCO said in its order that, "due to the provisions of the United States Bankruptcy Code and Ohio law, the Commission
cannot guarantee that contracts entered into by Just Energy Solutions, Inc., Hudson Energy Services, LLC, and Interactive Energy Group, LLC prior to the bankruptcy filing will not be
impacted by the filing."