OEB imposes conditions on renewal of Universal Energy gas marketer licence

TORONTO, April 1 /CNW/ - Today, the Ontario Energy Board (the "Board") ordered that the renewal of the gas marketer licence of Universal Energy Corporation ("Universal") be subject to certain conditions, as a result of concerns raised regarding the conduct of the applicant.

In its Decision and Order, the Board approved Universal's licence for two years instead of the usual five years.

The specific licence requirements the Board imposed on Universal (or Just Energy, the parent company, on behalf of Universal) relate to its marketing practices. As well, the Board now requires Universal to file quarterly reports about its review of consumer issues raised, and the company's response, concerning natural gas contracts.

The Board considers a number of issues when deciding whether to license a gas marketer. The primary factors considered are the conduct, financial health and technical capability of the applicant.

The Board is currently reviewing Universal's application to renew its electricity retailer licence.

The Ontario Energy Board regulates the province's electricity and natural gas sectors in the public interest. It envisions a viable and efficient energy sector with informed consumers, and works towards this vision through regulatory processes that are effective, fair and transparent.

For more information on the Board, please visit our website at www.oeb.gov.on.ca or contact the Consumer Relations Centre at 416-314-2455 or toll-free at 1-877-632-2727.

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For further information: Media Inquiries, Paul Crawford, Ontario Energy Board, [phone]; Public Inquiries, [phone] Or 1-877-632-2727