Nexus Energy Announces New Fixed-Cost Energy Service for Commercial Customers

Solution addresses critical need for predictable and renewable energy costs

TORONTO, July 19, 2022 /CNW/ - Today, power trading company Nexus Energy Inc. (Nexus Energy) announced it is entering the Ontario commercial retail business with the launch of its new division, Nexus Energy Origination. Nexus Energy Origination addresses the critical need for Ontario-based industrial and commercial customers to access predictable energy costs and renewable solutions at competitive rates.

"Nexus Energy Origination was created to support our clients in reaching their environmental goals, including saving energy," said Alvin Tang, CEO, Nexus Energy. "We provide a cost-focused service that offers zero-carbon transition opportunities, which will help our customers as they work to reduce their carbon footprint to net-zero."

Tang adds, "Nexus Energy Origination is led by Gary Wight, a recognized leader in the energy sector. Gary brings a proven track record of delivering value to customers and channel partners, and a deep knowledge of competitive markets."

"Market volatility and regulatory changes are creating a greater need for Ontario businesses and institutions to manage their energy expenditures and secure fixed price arrangements. I'm thrilled to join Nexus Energy in creating solutions to meet these needs," said Gary Wight, Director of Origination, Nexus Energy. "Nexus Energy Origination's fixed cost of electricity service helps customers eliminate the risks and impacts of budget instability caused by ever-fluctuating commodity pricing."

Nexus Energy Origination provides Ontario-based industrial and commercial customers with energy cost certainty by offering set pricing for their power requirements and then hedging this exposure internally through the electricity market. Nexus Energy has the capabilities and market insights to offer competitive pricing and drive value.

Divestiture from Nexus Renewables

Nexus Energy also announced that it is no longer affiliated with Nexus Renewables. As of May 17, 2022, Nexus Energy sold its investment stake in Nexus Renewables and is fully divested from the company.

"Nexus Energy's divestment was carried out with a focus on continuing to create stakeholder value," said Tang.  "This divestment allows Nexus Energy to make high growth investments in other business lines that are aligned with, and accelerate, Nexus Energy's strategic objectives, such as Nexus Energy Origination."

About Nexus Energy Inc.:

Nexus provides "power without borders", giving customers access to electricity when and where they need it. Founded in 2017, Nexus Energy is a power trading company, operating in both the physical and financial markets, that moves electricity around Canada and the Northeastern United States. The company participates in four markets: the Independent Electricity System Operator; Midcontinent Independent System Operator; Pennsylvania-New Jersey-Maryland Interconnection; and New York Independent System Operator. Nexus is also a registered member of the North American Energy Standard Board and the Northeast Power Coordinating Council. For more information, visit www.nexusenergycanada.com.

SOURCE Nexus Energy Inc.

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