Press release from Marketwire
Just Energy Income Fund Announces December Distribution
Friday, December 03, 2010
Just Energy Income Fund Announces December Distribution07:33 EST Friday, December 03, 2010TORONTO, ONTARIO--(Marketwire - Dec. 3, 2010) - Just Energy Income Fund (TSX:JE.UN) filed notice with the Toronto Stock Exchange today announcing its regular distribution for December. A distribution of $0.10333/unit ($1.24 annually) will be paid on December 31st, 2010 to Unitholders of record at the close of business on December 15th, 2010. The Units trade on the Toronto Stock Exchange under the symbol "JE.UN". This distribution is expected to be the final distribution from Just Energy Income Fund as it will convert to a corporate structure on January 1, 2011. The trading symbol for the Common Shares of Just Energy Group Inc. ("Just Energy Group") will be "JE". Just Energy Group has announced that its initial dividend policy will be to pay a monthly dividend of $0.10333 per share with the first dividend expected to be payable on January 31, 2011.The FundJust Energy's business primarily involves the sale of natural gas and/or electricity to residential and commercial customers under long-term fixed-price, price-protected or variable-priced contracts and green energy products. By fixing the price of natural gas or electricity under its fixed-price or price-protected program contracts for a period of up to five years, Just Energy's customers offset their exposure to changes in the price of these essential commodities. Just Energy, which commenced business in 1997, derives its margin or gross profit from the difference between the fixed price at which it is able to sell the commodities to its customers and the fixed price at which it purchases the associated volumes from its suppliers. The Fund also offers "green" products through its JustGreen program. The electricity JustGreen product offers the customer the option of having all or a portion of his or her electricity sourced from renewable green sources such as wind, run of the river hydro or biomass. The gas JustGreen product offers carbon offset credits which will allow the customer to reduce or eliminate the carbon footprint of their home or business. Management believes that the JustGreen products will not only add to profits, but also increase sales receptivity and improve renewal rates.In addition, through National Home Services, the Fund sells and rents high efficiency and tankless water heaters, air conditioners and furnaces to Ontario residents. Through its subsidiary Terra Grain Fuels, the Fund produces and sells wheat-based ethanol.Forward-Looking StatementsThe Fund's press releases may contain forward-looking statements including statements pertaining to customer revenues and margins, customer additions and renewals, customer attrition, customer consumption levels, general and administrative expenses, distributable cash, payments of distributions and dividends, and treatment under governmental regulatory regimes. These statements are based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated. These risks include, but are not limited to, levels of customer natural gas and electricity consumption, rates of customer additions and renewals, rates of customer attrition, fluctuations in natural gas and electricity prices, changes in regulatory regimes and decisions by regulatory authorities, competition and dependence on certain suppliers. Additional information on these and other factors that could affect the Fund's operations, financial results or distribution levels are included in the Fund's annual information form and other reports on file with Canadian securities regulatory authorities which can be accessed through the SEDAR website at www.sedar.com or through the Fund's website at www.justenergy.com.FOR FURTHER INFORMATION PLEASE CONTACT: Ms. Rebecca MacDonaldJust Energy Income FundExecutive Chair(416) 367-2872ORMr. Ken Hartwick, C.A.Just Energy Income FundChief Executive Officer & President(905) 795-3557ORMs. Beth Summers, C.A.Just Energy Income FundChief Financial Officer(905) 795-4206The Toronto Stock Exchange has neither approved nor disapproved of the contents of this release.