- Just Energy (JE) has announced legislation providing a recovery mechanism for certain costs of Texas’ recent winter storms
- On June 16, 2021, Texas Governor Greg Abbott signed House Bill 4492, which provides the mechanism to various parties, including the company
- Based on current information, if the commission approves the financing, Just Energy will apply to recover approximately US$100 million in costs
- Just Energy is a retail energy provider specializing in electricity, natural gas and renewable energy options
- Just Energy (JE) is down by 2 per cent and is currently trading at $1.96 per share
Just Energy (JE) has announced legislation providing a recovery mechanism for certain costs of Texas’ recent winter storms.
On June 16, 2021, Texas Governor Greg Abbott signed House Bill 4492, which provides the mechanism to various parties, including the company, through certain securitization structures.
HB 4492 addresses securitization of the following:
- Ancillary service charges above US$9,000 per MWh during the weather event
- Reliability deployment price adders charged by the Electric Reliability Council of Texas (ERCOT) during the event
- Amounts owed to ERCOT due to defaults of competitive market participants, which were subsequently short-paid to market participants, including Just Energy
HB 4492 also asks that ERCOT request that the Public Utility Commission of Texas establish financing mechanisms for payment of costs incurred by load-serving entities, including Just Energy.
Based on current information, if the commission approves HB 4492 financing, Just Energy will apply to recover approximately US$100 million in costs.
Just Energy is a retail energy provider specializing in electricity, natural gas and renewable energy options.
Just Energy (JE) is down by 2 per cent and is currently trading at $1.96 per share as of 10:12 am ET.
