In a January 5, 2023 opinion from the United States Court of Appeals for the Fifth Circuit, the panel held the Just Energy bankruptcy court erred in exercising jurisdiction over the.
In an opinion from the Fifth Circuit, the panel held the Just Energy bankruptcy court erred in exercising jurisdiction over the debtor’s suit to recover Winter Storm Uri payments made to ERCOT. The Fifth Circuit held the Travis County, Texas district court is the correct forum.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Just Energy Provides Update on ERCOT Resettlements
Just Energy Group Inc.April 21, 2021 GMT
TORONTO, April 21, 2021 (GLOBE NEWSWIRE) Just Energy Group Inc. (“Just Energy” or the “Company”) (OTC: JENGQ), a retail energy provider specializing in electricity and natural gas commodities and bringing energy efficient solutions and renewable energy options to customers, announced today that the Company has received resettlement invoices from the Electricity Reliability Council of Texas (“ERCOT”) for the week of February 15, 2021 in connection with the Texas extreme weather event in February (the “Weather Event”) totaling approximately an additional US$48 million, substantially related to unexpected increases with respect to unaccounted for energy (UFE), as determined by ERCOT.
Following Unprecedented Winter Storm in Texas, Just Energy Files for Relief Under CCAA in Canada and Chapter 15 in U.S. and Has Arranged US$125 Million Debtor in Possession Financing Just Energy Group Inc. Mississauga, Ontario, CANADA
All Services to customers across Company’s North American operations continue without interruption; no impact on customers’ bills or daily operations expected
Filings and associated US$125 million Debtor in Possession (“DIP”) financing ensures Just Energy continues to meet its regulatory obligations in North America, including payments required by the Electric Reliability Council of Texas (“ERCOT”)
Filings provide stability for the Company as it facilitates the restructuring of its financial obligations due to the impact of unprecedented winter storm on the business