Mississauga, ON - July 9, 2010

Following ("OEB), a hearing date has been set for the week of August 23, 2010.

 As previously indicated, the OEB is seeking an Order for Compliance and an Administrative Penalty involving the alleged sales practices of five agents over an 18 month period.

Unless the OEB and Summitt Energy are able to come to a mutually acceptable resolution of the matter, the oral hearing before the OEB is intended to deal with the allegations made against Summitt Energy in the OEB Notice issued on June 17, 2010.

Background:

Summitt Energy is one of the largest energy retail companies in Ontario, representingover 100,000 customers accross the province. Established in 2006 and headquartered in Mississauga, Summitt Energy offers residential and business customers a varietyof natural gas and electricity price protection programs. In 2008, Summitt Energy launched the Summitt Evergreen Program, designed to offset greenhouse gas emissions from homes in Canada.

Mississauga, ON - July 9, 2010 - Summitt Energy has requested a hearing before the Ontario Energy Board ("OEB") to deal with the allegations made in the OEB Notice issued on June 17, 2010 to make an Order for Compliance and an Administrative Penalty involving the alleged sales practices of five agents over an 18 month period.

Given the complexity of the cases involved and the tight timelines in which to preserve its rights, Summitt Energy issued a hearing request and intends to:

-           fully investigate the allegations made against it and specifically relating to the activities of five agents;

-           implement and monitor a number of new sales procedures established by it in an effort to help consumers; and

-           continue to co-operate fully with staff at the OEB with a view toward finding a mutually acceptable approach to resolving all matters connected with the allegations.

"While our internal review of the allegations is ongoing and a date for the hearing has not yet been set by the OEB, the entire management team at Summitt Energy is focused on working with the OEB toward a full and final resolution of this matter", said Gerry Haggarty, President of Summitt Energy.

Background:

On June 17, 2010, Summitt Energy received a Notice of Intention to make an Order for Compliance and an Administrative Penalty from the OEB. The allegations made in the OEB Notice involve the sales practices of five agents over an 18 month period.

Summitt Energy is one of the largest energy retail companies in Ontario, representing over 100,000 customers across the province. Established in 2006 and headquartered in Mississauga, Summitt Energy offers residential and business customers a variety of natural gas and electricity price protection programs.  In 2008, Summitt Energy launched the Summitt EverGreen Program, designed to offset greenhouse gas emissions from homes in Canada.

On June 17, 2010, Summitt Energy received from the Ontario Energy Board a notice of intention to issue an order for compliance under the Ontario Energy Board Act, 1998.  Summitt Energy will be responding to the notice received from the Ontario Energy Board within the 15 day timeframe prescribed by the Ontario Energy Board.  The notice relates to certain allegations of customers concerning the sales practices of five (5) of sales representatives of Summitt Energy.  The allegations made cover 28 incidents over the last three (3) years.   

 Summitt Energy does not condone the sales agent practices described in the Ontario Energy Board's notice and is taking these customer allegations very seriously. Summitt Energy has already commenced a detailed review of each case cited in the notice in an effort to evaluate the merit of the allegations made.  In that regard, Summitt Energy has implemented the following  measures: 

 1) suspending the five (5) sales agents until a review of the allegations is completed,
 2) implementing a point of sale quality call with each of its new customers, and
 3) providing customers with a one page plain language disclosure document, which carefully explains that Summitt Energy  is not affiliated with any local utility or any governmental agency or body and outlines the main terms of the agreement.

 The goal of these measures is to ensure that Summitt Energy is compliant with all regulatory requirements, follows all the best practices of the energy marketing industry, and most importantly ensures that its customers are fully informed when making decisions regarding energy purchases. 

 Summitt Energy is based in Mississauga, Ontario and is licensed through the Ontario Energy Board as a natural gas marketer and electricity retailer.  It is committed to providing Ontario consumers with value added energy products that will assist them in budgeting their energy costs and addressing their home energy efficiency needs.