MISSISSAUGA, ONT--Just Energy, one of North America's leading natural gas and electricity retailers and provider of green energy, has announced an agreement with Iberdrola Renewables to purchase Renewable Energy Credits ("RECs") from wind power produced in New York State.
Iberdrola Renewables is the worldwide leader in wind power development and co-owns New York's largest wind farm facility.
Under the five year agreement, Just Energy will purchase wind power in the form of Renewable Energy Credits produced by a variety of state-of-the-art wind farms in New York. Each single REC is evidence of the generation of 1 MWh (mega watt hour) of clean, renewable, green electric energy from such wind farms.
Just Energy has also confirmed a financial swap arrangement with Iberdrola Renewables which will further enable Just Energy to provide fixed price electricity programs to customers for terms up to five years. This transaction locks in price stability for Just Energy's power offerings through a financial swap for energy with Iberdrola Renewables. The New York wind RECs and the transaction are exclusive of the physical energy from the wind facilities. The entire agreement enables Just Energy to provide an easy option for environmentally-conscious consumers to support clean, renewable homegrown wind energy.
Just Energy
www.justenergy.com
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