UPDATE 1-Just Energy files to restructure in Canada after Texas freeze hit
(Adds details on restructuring, background)
March 9 (Reuters) - Electricity and gas provider Just Energy Group Inc said on Tuesday it was restructuring under the Companies' Creditors Arrangement Act in Canada and plans to file for Chapter 15 bankruptcy in the United States after a hit from the Texas deep freeze last month.
The company in February raised doubts about its ability to continue as a going concern, after it forecast a $250 million hit from the winter storms sweeping across Texas.
Just Energy, which was talking with key stakeholders to address liquidity issues, also reached an agreement with one of its lenders for a $125 million debtor-in-possession financing to meet its regulatory obligations in North America, including payments required by the Electric Reliability Council of Texas.
All services to customers across the company's North American operations will continue without interruption and there will be no impact on customers' bills or daily operations, the company said. (Reporting by Arathy S Nair in Bengaluru; Editing by Shinjini Ganguli)
