TORONTO, CANADA (February 7, 2014) - ONEnergy Inc. ("ONEnergy" or the "Corporation") (TSXV: OEG and OEG.A), a growing provider of innovative energy products to residential, industrial and commercial customers in Ontario and the US, today announced that its wholly owned subsidiary Sunwave Gas & Power Pennsylvania Inc. ("Sunwave") has been granted an electric generation supplier license by the Pennsylvania Public Utilities Commission. Under the terms of the license, Sunwave will serve customers in the electric distribution service territories of PECO Energy, PPL Electric, and Met-Ed. The license allows Sunwave to serve residential, commercial and industrial customers in some of the most populous service territories in the state.
"Combined with our recently announced Connecticut Electric Supplier License, ONEnergy is establishing a solid operating base in key growth markets in the northeast US. We look forward to providing Pennsylvania homeowners and businesses with the same higher standard of products, services and customer care that current Sunwave customers are benefiting from today," said Sunwave President Robert Weir. "Our customer-centric focus and experienced team, combined with our financial strength and stability provides us with a high degree of confidence in further expanding our footprint in our target markets."
Sunwave expects to begin serving Pennsylvania customers later this month.
About ONEnergy Inc.
ONEnergy, through Sunwave Gas & Power Inc. (www.gosunwave.com), is a licensed provider of innovative energy products to residential, industrial and commercial customers. ONEnergy is licensed to provide natural gas and electricity in Ontario and electricity in Connecticut and Pennsylvania, and has pending electric supplier licensing applications in Massachusetts and New York.
ONEnergy shares are listed on the TSX Venture Exchange under the symbols "OEG" for Multiple Voting Shares and "OEG.A" for Subordinate Voting Shares. ONEnergy's website may be found at www.onenergyinc.com.
Mark Lewis
Chief Executive Officer
ONEnergy Inc.
(416) 444-8810
Ali Mahdavi
Capital Markets & Investor Relations
Spinnaker Capital Markets Inc.
(416) 962-3300
The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of ONEnergy and its subsidiaries that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by ONEnergy at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by ONEnergy that actual results achieved will be the same, in whole or in part, as those forecast.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.