Canada Markets open in 6 hrs 5 mins

Stocks in play: Just Energy Group Inc.

Baystreet.ca

Announced today that as part of the previously announced Strategic Review process, management identified customer enrolment and non-payment issues, primarily in Texas, over the past 12 months. As management identified these issues, more robust operational controls were put in place, culminating in numerous improvements being implemented during June and July. Due to the identified issues, management is updating its provisioning methodology used to estimate its reserve for trade receivables. Management expects an incremental impairment of the Texas residential accounts receivable of approximately $45 to $50 million as of June 30. Just Energy Group Inc. shares T.JE are trading down $0.80 at $4.94.