Just Energy (JENGQ) 6-K 28 Aug 20 2021 Q1 Just Energy Group Inc. Interim Condensed Consolidated Statements of Financial Position Financial data

Document And Entity Information

Document And Entity Information	3 Months Ended
	Jun. 30, 2020
Document Information [Line Items]
Entity Registrant Name	Just Energy Group Inc.
Entity Central Index Key	0001538789
Current Fiscal Year End Date	--03-31
Document Type	6-K
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Interim Condensed Consolidated

Interim Condensed Consolidated Statements of Financial Position (Current Period Unaudited) - CAD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Current assets
Cash and cash equivalents	$ 20,006	$ 26,093
Restricted cash	376	4,326
Trade and other receivables, net	372,530	403,907
Gas in storage	12,283	6,177
Fair value of derivative financial assets	55,072	36,353
Income taxes recoverable	7,067	6,641
Other current assets	143,857	203,270
Total current assets	611,191	686,767
Assets classified as held for sale	3,402	7,611
Noncurrent assets, excluding assets held for sale	614,593	694,378
Non-current assets
Investments	32,889	32,889
Property and equipment, net	23,903	28,794
Intangible assets, net	362,389	370,958
Fair value of derivative financial assets	26,929	28,792
Deferred income tax assets	3,644	3,572
Other non-current assets	47,620	56,450
Total non-current assets	497,374	521,455
TOTAL ASSETS	1,111,967	1,215,833
Current liabilities
Trade and other payables	559,441	685,665
Deferred revenue	1,795	852
Income taxes payable	6,433	5,799
Fair value of derivative financial liabilities	79,652	113,438
Provisions	142	1,529
Current portion of long-term debt	262,909	253,485
Total current liabilities	910,372	1,060,768
Liabilities related to assets classified as held for sale	2,198	4,906
Non-current liabilities other than liabilities included in disposal groups classified as held for sale	912,570	1,065,674
Non-current liabilities
Long-term debt	519,347	528,518
Fair value of derivative financial liabilities	57,700	76,268
Deferred income tax liabilities	2,720	2,931
Other non-current liabilities	32,670	37,730
Total non-current liabilities	612,437	645,447
TOTAL LIABILITIES	1,525,007	1,711,121
SHAREHOLDERS’ DEFICIT
Shareholders’ capital	1,246,991	1,246,829
Equity component of convertible debentures	13,029	13,029
Contributed deficit	(29,273)	(29,826)
Accumulated deficit	(1,730,433)	(1,809,557)
Accumulated other comprehensive income	87,053	84,651
Non-controlling interest	(407)	(414)
TOTAL SHAREHOLDERS’ DEFICIT	(413,040)	(495,288)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	$ 1,111,967	$ 1,215,833

Interim Condensed Consolidate_2

Interim Condensed Consolidated Statements of Income (Loss) (Unaudited) - CAD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
Sales	$ 593,134	$ 670,165
Cost of goods sold	323,997	457,941
GROSS MARGIN	269,137	212,224
Administrative	(39,953)	(40,803)
Selling and marketing	(46,959)	(61,704)
Other operating expenses	(19,911)	(35,765)
Finance costs	(21,853)	(23,546)
Unrealized gain of derivative instruments and other	77,349	(241,999)
Realized loss of derivative instruments	(134,446)	(79,932)
Other expenses, net	(632)	(740)
Profit (loss) from continuing operations before income taxes	82,732	(272,265)
Provision for (recovery of) income taxes	634	(2,294)
PROFIT (LOSS) FROM CONTINUING OPERATIONS	82,098	(269,971)
Loss from discontinued operations	(2,948)	(5,189)
PROFIT (LOSS) FOR THE PERIOD	79,150	(275,160)
Shareholders of Just Energy	82,095	(269,951)
Discontinued operations	(2,948)	(5,189)
Non-controlling interest	$ 3	$ (20)
Basic (in CAD per share)	$ 0.52	$ (1.82)
Diluted (in CAD per share)	0.43	(1.82)
Basic (in CAD per share)	(0.02)	(0.03)
Diluted (in CAD per share)	(0.02)	(0.03)
Basic (in CAD per share)	0.50	(1.85)
Diluted (in CAD per share)	$ 0.41	$ (1.85)

Interim Condensed Consolidate_3

Interim Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - CAD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
PROFIT (LOSS) FOR THE PERIOD	$ 79,150	$ (275,160)
Other comprehensive profit (loss) to be reclassified to profit or loss in subsequent periods:
Unrealized gain (loss) on translation of foreign operations	1,143	(7,019)
Unrealized gain on translation of foreign operations from discontinued operations	426	4,721
Gain on translation of foreign operations disposed and reclassified to consolidated statement of loss	833
Other comprehensive income, net of tax, exchange differences on translation	2,402	(2,298)
TOTAL COMPREHENSIVE INCOME (LOSS) FOR THE PERIOD, NET OF TAX	81,552	(277,458)
Total comprehensive income (loss) attributable to:
Shareholders of Just Energy	81,549	(277,438)
Non-controlling interest	3	(20)
TOTAL COMPREHENSIVE INCOME (LOSS) FOR THE PERIOD, NET OF TAX	$ 81,552	$ (277,458)

Interim Condensed Consolidate_4

Interim Condensed Consolidated Statements of Changes In Shareholders' Deficit (Unaudited) - CAD ($) $ in Thousands	Retained earnings attributable to accumulated earnings (losses) [member]	Retained earnings, portion attributable to dividends [member]	Retained earnings [member]	Accumulated other comprehensive income [member]	Issued capital [member]Ordinary shares [member]	Issued capital [member]Preference shares [member]	Issued capital [member]	Reserve of equity component of convertible instruments [member]	Share premium (deficit) [member]	Non-controlling interests [member]	Total
Balance, beginning of period at Mar. 31, 2019	$ 533,107	$ (1,923,808)		$ 79,093	$ 1,088,538	$ 146,965		$ 13,029	$ (25,540)	$ (399)
Statement Line Items [Line Items]
PROFIT (LOSS) FOR THE PERIOD	(275,140)									(20)	$ (275,160)
Balance, end of period at Jun. 30, 2019	257,967	(1,945,878)	$ (1,687,911)	76,795	1,095,498	146,965	$ 1,242,463	13,029		(396)	(381,222)
Statement Line Items [Line Items]
Dividends and distributions declared and paid		(22,070)
Other comprehensive income (loss)				(2,298)
Share-based units exercised					6,960				(6,960)
Add: Share-based compensation expense									7,118
Discontinued operations									137
Less: Share-based units exercised					6,960				(6,960)
Share-based compensation adjustment									20
Non-cash deferred share grants											23
Foreign exchange impact on non-controlling interest										23
Profit (loss) attributable to non-controlling interest	(275,140)									(20)	(275,160)
Balance, beginning of period at Mar. 31, 2019	533,107	(1,923,808)		79,093	1,088,538	146,965		13,029	(25,540)	(399)
Balance, end of period at Mar. 31, 2020	140,446	(1,950,003)		84,651	1,099,864	146,965	1,246,829	13,029	(29,826)	(414)	(495,288)
Statement Line Items [Line Items]
Share-based units exercised					11,326
Less: Share-based units exercised					11,326
Balance, beginning of period at Dec. 31, 2019									(25,202)
Balance, end of period at Jun. 30, 2020	219,593	(1,950,026)	(1,730,433)	87,053	1,100,026	146,965	1,246,991	13,029	(29,273)	(407)	(413,040)
Statement Line Items [Line Items]
Non-cash deferred share grants											23
Balance, beginning of period at Mar. 31, 2020	140,446	(1,950,003)		84,651	1,099,864	146,965	1,246,829	13,029	(29,826)	(414)	(495,288)
Statement Line Items [Line Items]
PROFIT (LOSS) FOR THE PERIOD	79,147									3	79,150
Balance, end of period at Jun. 30, 2020	219,593	(1,950,026)	$ (1,730,433)	87,053	1,100,026	$ 146,965	$ 1,246,991	$ 13,029	(29,273)	(407)	(413,040)
Statement Line Items [Line Items]
Dividends and distributions declared and paid		$ (23)
Other comprehensive income (loss)				$ 2,402
Share-based units exercised					162				(162)
Add: Share-based compensation expense									692
Discontinued operations
Less: Share-based units exercised					$ 162				(162)
Share-based compensation adjustment
Non-cash deferred share grants
Foreign exchange impact on non-controlling interest										4
Profit (loss) attributable to non-controlling interest	$ 79,147									$ 3	$ 79,150

Interim Condensed Consolidate_5

Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - CAD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
OPERATING
Profit (loss) from continuing operations before income taxes	$ 82,732	$ (272,265)
Profit (loss) from discontinued operations before income taxes	(2,948)	(5,299)
Profit (loss) before income taxes	79,784	(277,564)
Items not affecting cash
Amortization and depreciation	7,352	11,938
Share-based compensation expense	692	7,118
Financing charges, non-cash portion	5,561	4,316
Unrealized (gain) loss in fair value of derivative instruments and other	(77,349)	241,999
Net change in working capital balances	(8,641)	29,911
Adjustment for discontinued operations, net	3,920	(26,064)
Income taxes paid	(670)	(5,703)
Cash inflow (outflow) from operating activities	10,649	(14,049)
INVESTING
Purchase of property and equipment	(16)	(562)
Purchase of intangible assets	(1,670)	(9,409)
Payments for acquired business		(12,013)
Cash outflow from investing activities	(1,686)	(21,984)
FINANCING
Dividends/Distributions paid		(22,047)
Repayment of long-term debt	(1,651)	(1,645)
Leased asset payments	(1,081)	(1,468)
Debt issuance costs		(190)
Credit facilities withdrawal	9,867	54,155
Share swap payout	(21,488)
Cash inflow (outflow) from financing activities	(14,353)	28,805
Effect of foreign currency translation on cash balances	(697)	(168)
Net cash outflow	(6,087)	(7,396)
Cash and cash equivalents, beginning of period	26,093	9,927
Cash and cash equivalents, end of period	20,006	2,531
Supplemental cash flow information:
Interest paid	$ 12,934	$ 15,208

Note 1 - Organization

Note 1 - Organization	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of general information about financial statements [text block]	1. ORGANIZATION Just Energy Group Inc. (“Just Energy” or the “Company”) is a corporation established under the laws of Canada to hold securities and to distribute the income of its directly or indirectly owned operating subsidiaries and affiliates. The registered office of Just Energy is First Canadian Place, 100 August 28, 2020.

Note 2 - Operations

Note 2 - Operations	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Nature of operations [text block]	2. OPERATIONS Just Energy is a retail energy provider specializing in electricity and natural gas commodities and bringing energy efficient solutions and renewable energy options to customers. Currently operating in the United States (“U.S.”) and Canada, Just Energy serves both residential and commercial customers, providing homes and businesses with a broad range of energy solutions that deliver comfort, convenience and control. Just Energy is the parent company of Amigo Energy, Filter Group Inc. (“Filter Group”), Hudson Energy, Interactive Energy Group, Tara Energy and TerraPass. Just Energy's current commodity product offerings include fixed, variable, index and flat rate options. By fixing the price of natural gas or electricity under its fixed-price or price-protected program contracts for a period of up to five Through the Filter Group business, Just Energy provides subscription-based home water filtration systems to residential customers, including under-counter and whole-home water filtration solutions. Just Energy markets smart thermostats, offering the thermostats as a standalone unit or bundled with certain commodity products. The smart thermostats are currently manufactured and distributed by ecobee Inc. (“ecobee”), a company in which Just Energy holds an approximate 8% Just Energy markets its product offerings through several sales channels including brokers, digital and telesales marketing, retail and affinity relationships. In March 2019, June 2019, three December 31, 2019 15. April 2020, June 30, 2020,

Note 3 - Financial Statement Pr

Note 3 - Financial Statement Presentation	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of basis of preparation of financial statements [text block]	3. FINANCIAL STATEMENT PRESENTATION (a) Compliance with IFRS These Interim Financial Statements have been prepared in accordance with International Accounting Standard (“IAS”) 34, March 31, 2019 (b) Basis of presentation and going concern These Interim Financial Statements should be read in conjunction with and follow the same accounting policies and methods of application as those used in the annual audited consolidated financial statements for the fiscal years ended March 31, 2020 2019. The Interim Financial Statements are presented in Canadian dollars, the functional currency of Just Energy, and all values are rounded to the nearest thousand, except where otherwise indicated. The Interim Financial Statements are prepared on a going concern basis under the historical cost convention, except for certain financial assets and liabilities that are stated at fair value. The interim operating results are not may March 31, 2021, October March April September. January March July September. October December April June. Certain figures in the comparative consolidated financial statements have been reclassified from statements previously presented to conform to the presentation of the current period's interim condensed consolidated financial statements. As described further in Note 9, $370 US$250 December 1, 2020 September 12, 2023, December 1, 2020 June 30, 2020. June 30, 2020, June 30, 2020, 1:50 2:00, 3.50:1 4.00:1 June 30, 2020. June 30, 2020. The Company's ability to continue as a going concern for the next 12 no On July 8, 2020, · Exchange of the 6.75% $100M 6.75% $160M · Extension of the $335 December 2023, · Existing 8.75% December 31, 2020 ( March 2024, · Exchange of all 8.50%, · Common share issuance in exchange for cash investment commitments of $100 · Initial reduction of annual cash interest expense by approximately $45 · Ongoing business as usual for employees, customers and suppliers enhanced by the relationship with a financially stronger Just Energy – no On August 26, 2020, · Pay accrued and unpaid interest in cash on the Subordinated Convertible Debentures until closing of the Recapitalization; · Issue $15 six 7% · Pay certain expenses of the ad hoc group of convertible debenture holders; and · Issue approximately $3.7 All other terms of the Recapitalization remain unchanged. The implementation of the Recapitalization is expected in September 2020, August 26, 2020. On July 17, 2020 July 23, 2020. August 26, 2020. The Company filed on SEDAR an information circular on July 21, 2020 August 27, 2020. These Interim Financial Statements do not (c) Principles of consolidation The Interim Financial Statements include the accounts of Just Energy and its directly or indirectly owned subsidiaries and affiliates as at June 30, 2020. (d) Significant accounting judgements, estimates, and assumptions The preparation of the consolidated financial statements requires the use of estimates and assumptions to be made in applying the accounting policies that affect the reported amount of assets, liabilities, income and expenses. The estimates and related assumptions based on previous experience and other factors are considered reasonable under the circumstances, the results of which form the basis for making the assumptions about carrying values of assets and liabilities that are not no March 31, 2020 COVID- 19 As a result of the continued and uncertain economic and business impact of the coronavirus disease (“COVID- 19” 19 no June 30, 2020, may 19 19 may 19 19

Note 4 - Accounting Policies an

Note 4 - Accounting Policies and New Standards Adopted	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of significant accounting policies [text block]	4. ACCOUNTING POLICIES AND NEW STANDARDS ADOPTED Adoption of International Financial Reporting Interpretations Committee (“IFRIC”) Agenda Decision 11, 11” The IFRIC reached a decision on Agenda Decision 11 March 5 6, 2019. 9 The Company has reviewed the agenda decision and determined that a change is required in its accounting policy related to contracts to buy or sell a non-financial item that can be settled net in cash or another financial instrument, or by exchanging financial instruments. These are contracts the Company enters into that are accounted for as derivatives at fair value through profit or loss but physically settled by the underlying non-financial item. The IFRIC concluded that IFRS 9 Prior to the adoption of Agenda Decision 11, 11, 11, three June 30, 2019, $79.9 $537.8 $457.9 11

Note 5 - Trade and Other Receiv

Note 5 - Trade and Other Receivables, Net	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of trade and other receivables [text block]	5. TRADE AND OTHER RECEIVABLES, NET (a) Trade and other receivables As at As at June 30, 2020 March 31, 2020 Trade accounts receivable, net $ 188,677 $ 241,969 Accrued gas receivables 4,779 7,224 Unbilled revenues, net 120,312 121,993 Other 58,762 32,721 $ 372,530 $ 403,907 (b) Aging of accounts receivable Customer credit risk The lifetime expected credit loss reflects Just Energy's best estimate of losses on the accounts receivable and unbilled revenue balances. Just Energy determines the lifetime expected credit loss by using historical loss rates and forward-looking factors if applicable. Just Energy is exposed to customer credit risk on its continuing operations in Alberta, Texas, Illinois (gas), California and Ohio (electricity). Credit review processes have been implemented to perform credit evaluations of customers and manage customer default. If a significant number of customers were to default on their payments, it could have a material adverse effect on the operations and cash flows of Just Energy. Management factors default from credit risk in its margin expectations for all of the above markets. In the remaining markets, the LDCs provide collection services and assume the risk of any bad debts owing from Just Energy's customers for a fee that is recorded in cost of goods sold. Management believes that the risk of the LDCs failing to deliver payment to Just Energy is minimal. There is no The aging of the trade accounts receivable from the markets where the Company bears customer credit risk was as follows: As at As at June 30, 2020 March 31, 2020 Current $ 79,981 $ 83,431 1–30 days 15,023 26,678 31–60 days 5,806 6,513 61–90 days 2,630 5,505 Over 90 days 23,302 35,252 $ 126,742 $ 157,379 (c) Allowance for doubtful accounts Changes in the allowance for doubtful accounts related to the balances in the table above were as follows: As at As at June 30, 2020 March 31, 2020 Balance, beginning of period $ 45,832 $ 182,365 Provision for doubtful accounts 11,940 80,050 Bad debts written off (23,274 ) (138,514 ) Foreign exchange 2,879 3,124 Assets classified as held for sale - (81,193 ) Balance, end of period $ 37,377 $ 45,832 Allowance for doubtful accounts on accounts receivable $ 34,388 $ 43,127 Allowance for doubtful accounts on unbilled revenue 2,989 2,705 Total allowance for doubtful accounts $ 37,377 $ 45,832

Note 6 - Other Current and Non-

Note 6 - Other Current and Non-current Assets	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of prepayments and other assets [text block]	6. OTHER CURRENT AND NON-CURRENT ASSETS (a) As at As at Other current assets June 30, 2020 March 31, 2020 Prepaid expenses and deposits $ 28,029 $ 55,972 Customer acquisition costs 66,865 77,939 Green certificates 43,784 63,728 Gas delivered in excess of consumption 2,030 2,393 Inventory 3,149 3,238 $ 143,857 $ 203,270 (b) As at As at Other non-current assets June 30, 2020 March 31, 2020 Customer acquisition costs $ 37,236 $ 43,686 Other long-term assets 10,384 12,764 $ 47,620 $ 56,450

Note 7 - Financial Instruments

Note 7 - Financial Instruments	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of financial instruments [text block]	7. FINANCIAL INSTRUMENTS (a) Fair value of derivative financial instruments and other The fair value of financial instruments is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., an exit price). Management has estimated the value of financial swaps, physical forwards and option contracts for electricity, natural gas, carbon and renewable energy certificates, and generation and transmission capacity contracts using a discounted cash flow method, which employs market forward curves that are either directly sourced from third third no The following table illustrates unrealized gains (losses) related to Just Energy's derivative financial instruments classified as fair value through profit or loss and recorded on the interim condensed consolidated statements of financial position as fair value of derivative financial assets and fair value of derivative financial liabilities, with their offsetting values recorded in unrealized loss in fair value of derivative instruments and other on the interim condensed consolidated statements of income (loss). Three months ended Three months ended June 30, 2020 June 30, 2019 Physical forward contracts and options (i) $ 48,380 $ (224,974 ) Financial swap contracts and options (ii) 28,121 (15,635 ) Foreign exchange forward contracts (6,051 ) (227 ) Share swap - 836 Unrealized foreign exchange on 6.5% convertible bond 12,218 5,815 Weather derivatives (iii) (2,381 ) (3,021 ) Other derivative options (2,938 ) (4,793 ) Unrealized gain (loss) of derivative instruments and other $ 77,349 $ (241,999 ) The following table summarizes certain aspects of the fair value of derivative financial assets and liabilities recorded in the interim condensed consolidated statement of financial position as at June 30, 2020: Financial assets Financial assets Financial liabilities (current) Financial liabilities Physical forward contracts and options (i) $ 46,342 $ 20,298 $ 41,935 $ 40,983 Financial swap contracts and options (ii) 5,738 1,823 32,032 16,447 Foreign exchange forward contracts 1,349 155 - - Weather derivatives (iii) 593 - 2,341 270 Other derivative options 1,050 4,653 3,344 - As at June 30, 2020 $ 55,072 $ 26,929 $ 79,652 $ 57,700 The following table summarizes certain aspects of the fair value of derivative financial assets and liabilities recorded in the interim condensed consolidated statement of financial position as at March 31, 2020: Financial assets Financial assets Financial liabilities Financial liabilities Physical forward contracts and options (i) $ 24,549 $ 17,673 $ 57,461 $ 51,836 Financial swap contracts and options (ii) 6,915 1,492 53,917 24,432 Foreign exchange forward contracts 4,519 3,036 - - Weather derivatives (iii) - - 280 - Other derivative options 370 6,591 1,780 - As at March 31, 2020 $ 36,353 $ 28,792 $ 113,438 $ 76,268 Below is a summary of the financial instruments classified through profit or loss as at June 30, 2020, (i) Physical forward contracts and options consist of: · Electricity contracts with a total remaining volume of 30,394,697 $50.25/MWh December 31, 2029. · Natural gas contracts with a total remaining volume of 80,779,715 $2.57/GJ October 31, 2025. · Renewable energy certificates (“RECs”) with a total remaining volume of 3,386,395 $38.21/REC December 31, 2028. · Electricity generation capacity contracts with a total remaining volume of 2,369 $6,508.70/MWCap May 31, 2024. · Ancillary contracts with a total remaining volume of 198,765 $23.81/MWh December 31, 2020. (ii) Financial swap contracts and options consist of: · Electricity contracts with a total remaining volume of 14,686,500 $46.27/MWh December 31, 2024. · Natural gas contracts with a total remaining volume of 112,528,362 $3.27/GJ December 31, 2025. · Electricity generation capacity contracts with a total remaining volume of 12 $3,934.85/MWCap October 31, 2020. · Ancillary contracts with a total remaining volume of 265,020 $22.45/MWh December 31, 2020. (iii) Weather derivatives consist of: · HDD natural gas swaps with price strikes ranging from US$1.75 US$7.35/MmBTU 1,051 5,059 March 31, 2021. · HDD natural gas swaps with price strikes to be set on futures index and temperature strikes from 1,051 5,059 March 31, 2022. · Electricity call options with price strikes of $100/MWh, 84 103 October 31, 2020. · Put options for CDDs with temperature strikes at historical averages, total tick size of $22 September 30 October 31, 2020. Share swap agreement Just Energy had entered into a share swap agreement to manage the volatility associated with the Company's restricted share grants and deferred share grants plans. The value, on inception, of the 2,500,000 $33,803. August 22, 2018, $23,803 $10,000 March 31, 2020, These derivative financial instruments create a credit risk for Just Energy since they have been transacted with a limited number of counterparties. Should any counterparty be unable to fulfill its obligations under the contracts, Just Energy may not Fair value (“FV”) hierarchy of derivatives Level 1 The fair value measurements are classified as Level 1 no Level 2 Fair value measurements that require observable inputs other than quoted prices in Level 1, 2 2, 2. Level 3 Fair value measurements that require unobservable market data or use statistical techniques to derive forward curves from observable market data and unobservable inputs are classified as Level 3 three five 12 15 3. Weather derivatives are non-exchange-traded financial instruments used as part of a risk management strategy to mitigate the impact adverse weather conditions have on gross margin. The fair values of the derivatives are determined using an internally developed model that relies upon both observable inputs and significant unobservable inputs. Accordingly, the fair values of these derivatives are classified as Level 3. For the share swap agreement, Just Energy uses a forward interest rate curve along with a volume weighted average share price to model out its value. As the inputs have no 3. Just Energy's accounting policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. Fair value measurement input sensitivity The main cause of changes in the fair value of derivative instruments is changes in the forward curve prices used for the fair value calculations. Just Energy provides a sensitivity analysis of these forward curves under the “Market risk” section of this note. Other inputs, including volatility and correlations, are driven off historical settlements. The following table illustrates the classification of derivative financial assets (liabilities) in the FV hierarchy as at June 30, 2020: Level 1 Level 2 Level 3 Total Derivative financial assets $ - $ - $ 82,001 $ 82,001 Derivative financial liabilities - (25,377 ) (111,975 ) (137,352 ) Total net derivative financial assets (liabilities) $ - $ (25,377 ) $ (29,974 ) $ (55,351 ) The following table illustrates the classification of derivative financial assets (liabilities) in the FV hierarchy as at March 31, 2020: Level 1 Level 2 Level 3 Total Derivative financial assets $ - $ - $ 65,145 $ 65,145 Derivative financial liabilities - (38,676 ) (151,030 ) (189,706 ) Total net derivative financial assets (liabilities) $ - $ (38,676 ) $ (85,885 ) $ (124,561 ) Commodity price sensitivity – Level 3 If the energy prices associated with only Level 3 10%, June 30, 2020 $194,030 $192,928 A key assumption used when determining the significant unobservable inputs included in Level 3 5% 12 15 The following table illustrates the changes in net fair value of financial assets (liabilities) classified as Level 3 Three months ended Year ended June 30, 2020 March 31, 2020 Balance, beginning of period $ (85,885 ) $ 17,310 Total gains (23,041 ) (3,822 ) Purchases 3,687 (43,663 ) Sales (7,988 ) 14,549 Settlements 83,253 (70,259 ) Balance, end of period $ (29,974 ) $ (85,885 ) (b) Classification of non-derivative financial assets and liabilities As at June 30, 2020 March 31, 2020, Long-term debt recorded at amortized cost has a fair value as at June 30, 2020 $589.8 March 31, 2020 - $596.2 8.75% 6.75% $100M 6.75% $160M 6.5% 6.75% $100M 6.75% $160M 6.5% 1 The risks associated with Just Energy's financial instruments are as follows: (i) Market risk Market risk is the potential loss that may Foreign currency risk Foreign currency risk is created by fluctuations in the fair value or cash flows of financial instruments due to changes in foreign exchange rates and exposure as a result of investments in U.S. operations. The performance of the Canadian dollar relative to the U.S. dollar could positively or negatively affect Just Energy's income, as a portion of Just Energy's income is generated in U.S. dollars and is subject to currency fluctuations upon translation to Canadian dollars. Due to its growing operations in the U.S., Just Energy expects to have a greater exposure to foreign currency fluctuations in the future than in prior years. Just Energy has economically hedged between 50% 100% 12 0% 50% 13 24 Just Energy may, not With respect to translation exposure, if the Canadian dollar had been 5% June 30, 2020, June 30, 2020 $2.9 $3.0 Interest rate risk Just Energy is only exposed to interest rate fluctuations associated with its floating rate credit facility. Just Energy's current exposure to interest rates does not not A 1% $551 June 30, 2020 ( June 30, 2019 - $606 Commodity price risk Just Energy is exposed to market risks associated with commodity prices and market volatility where estimated customer requirements do not not Commodity price sensitivity – all derivative financial instruments If all the energy prices associated with derivative financial instruments including natural gas, electricity, verified emission-reduction credits and RECs had risen (fallen) by 10%, June 30, 2020 $188,963 $187,861 For information on credit risk, refer to Note 5. (ii) Liquidity risk Liquidity risk is the potential inability to meet financial obligations as they fall due. Just Energy manages this risk by monitoring detailed daily cash flow forecasts covering a rolling 13 12 two The following are the contractual maturities, excluding interest payments, reflecting undiscounted disbursements of Just Energy's financial liabilities: As at June 30, 2020: Carrying Contractual Less than More than amount cash flows 1 year 1–3 years 4–5 years 5 years Trade and other payables $ 559,441 $ 559,441 $ 559,441 $ - $ - $ - Long-term debt 1 782,256 822,902 263,592 263,105 296,205 - Gas, electricity and non-commodity contracts 137,352 2,938,427 1,125,798 1,386,530 325,257 100,842 $ 1,479,049 $ 4,320,770 $ 1,948,831 $ 1,649,635 $ 621,462 $ 100,842 1 6.75% $100M 6.75% $160M 6.5% may In addition to the amounts noted above, as at June 30, 2020, Less than 1 year 1–3 years 4–5 years More than 5 years Interest payments $ 42,895 $ 68,417 $ 5,834 $ - (iii) Physical supplier risk Just Energy purchases the majority of the gas and electricity delivered to its customers through long-term contracts entered into with various suppliers. Just Energy has an exposure to supplier risk as the ability to continue to deliver gas and electricity to its customers is reliant upon the ongoing operations of these suppliers and their ability to fulfill their contractual obligations. As at June 30, 2020, $17,063 June 30, 2019 - $8,246 (iv) Counterparty credit risk Counterparty credit risk represents the loss that Just Energy would incur if a counterparty fails to perform under its contractual obligations. This risk would manifest itself in Just Energy replacing contracted supply at prevailing market rates, thus impacting the related customer margin. Counter party limits are established within the Risk Management Policy. Any exceptions to these limits require approval from the Board of Directors of Just Energy. The Risk Department and Risk Committee monitor current and potential credit exposure to individual counterparties and also monitor overall aggregate counterparty exposure. However, the failure of a counterparty to meet its contractual obligations could have a material adverse effect on the operations and cash flows of Just Energy. As at June 30, 2020, $82,001 June 30, 2019 - $102,209

Note 8 - Trade and Other Payabl

Note 8 - Trade and Other Payables	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of trade and other payables [text block]	8. TRADE AND OTHER PAYABLES As at As at June 30, 2020 March 31, 2020 Commodity suppliers' accruals and payables $ 364,355 $ 414,581 Green provisions and repurchase obligations 69,648 103,245 Sales tax payable 27,216 19,706 Non-commodity trade accruals and accounts payable 67,843 117,473 Current portion of payable to former joint venture partner 16,179 18,194 Accrued gas payable 2,331 3,295 Other payables 11,869 9,171 $ 559,441 $ 685,665

Note 9 - Long-term Debt and Fin

Note 9 - Long-term Debt and Financing	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of borrowings [text block]	9. LONG-TERM DEBT AND FINANCING As at As at Maturity June 30, 2020 March 31, 2020 Credit facility (a) December 1, 2020 $ 246,256 $ 236,389 Less: Debt issue costs (a) (683 ) (1,644 ) Filter Group financing (b) October 25, 2023 8,039 9,690 8.75% loan (c) September 12, 2023 270,543 280,535 6.75% $100M convertible debentures (d) March 31, 2023 90,907 90,187 6.75% $160M convertible debentures (e) December 31, 2021 154,791 153,995 6.5% convertible bonds (f) December 31, 2020 12,403 12,851 782,256 782,003 Less: Current portion (262,909 ) (253,485 ) $ 519,347 $ 528,518 Future annual minimum principal repayments are as follows: Less than 1 year 1–3 years 4–5 years Total Credit facility (a) $ 246,256 $ - $ - $ 246,256 Filter Group financing (b) 4,933 3,105 - 8,038 8.75% loan (c) - - 296,205 296,205 6.75% $100M convertible debentures (d) - 100,000 - 100,000 6.75% $160M convertible debentures (e) - 160,000 - 160,000 6.5% convertible bonds (f) 12,403 - - 12,403 $ 263,592 $ 263,105 $ 296,205 $ 822,902 The following table details the finance costs for the period ended June 30. 2020 2019 Credit facility (a) $ 5,135 $ 6,052 Filter Group financing (b) 206 384 8.75% loan (c) 9,264 7,337 6.75% $100M convertible debentures (d) 2,408 2,337 6.75% $160M convertible debentures (e) 3,496 3,430 6.5% convertible bonds (f) 275 804 Supplier finance and others (g) 1,069 3,202 $ 21,853 $ 23,546 (a) In April 2018, $352.5 $342.5 $370 June 28, 2019, 1.50:1 2.00:1 3.50:1 4.00:1 first 2021. June 30, 2020, July 8, 2020, September 2020 September 1, 2020 December 1, 2020. $335 three December 2023. Interest is payable on outstanding loans at rates that vary with Bankers' Acceptance rates, LIBOR, Canadian bank prime rate or U.S. prime rate. Under the terms of the operating credit facility, Just Energy is able to make use of Bankers' Acceptances and LIBOR advances at stamping fees of 3.750%. 2.750% 3.750%. As at June 30, 2020, 2.45% 3.25%. June 30, 2020, $246.3 June 30, 2020 $63.2 March 31, 2020- $72.5 June 30, 2020, $60.5 (b) Filter Group has an outstanding loan payable to Home Trust Company (“HTC”). The loan is a result of factoring receivables to finance the cost of rental equipment over a period of three five 8.99% (c) On September 12, 2018, US$250 “8.75% 8.75% 8.75% June 30 December 31 September 12, 2023. 7.5 $8.56 one 8.75% three first US$50 second US$150 6.5% third US$50 June 30, 2020, US$207.0 8.75% July 2019, US$14 June 30, 2020, US$43.0 1.65:1 2.30:1 3.50:1 4.25:1 first 2021. June 30, 2020, July 8, 2020 US$205.9 March 2024, (d) On February 22, 2018, $100 “6.75% $100 6.75% $100 6.75%, March 31 September 30 March 31, 2023. $1,000 6.75% $100 112.3596 $8.90, The conversion feature of the 6.75% $100 $9.7 $2.6 6.75% $100 $100 6.75% $100 10.7%. 6.75% $100 No 6.75% $100 June 30, 2020. (e) On October 5, 2016, $160 “6.75% $160 6.75% $160 6.75%, June 30 December 31 December 31, 2021. $1,000 6.75% $160 107.5269 $9.30, The 6.75% $160 not December 31, 2019. December 31, 2019 December 31, 2020, 6.75% $160 may not 60 not 30 20 five 125% The conversion feature of the 6.75% $160 $8.0 $2.1 6.75% $160 $160 6.75% $160 9.1%. 6.75% $160 No 6.75% $160 June 30, 2020. (f) On January 29, 2014, US$150 “6.5% 6.5% 6.5%, January 29 July 29 December 31, 2020. A conversion right in respect of a bond could have been exercised, at the option of the holder thereof, at any time from May 30, 2014 July 7, 2019, not. US$9.3762 C$10.2819 may, no As a result of the debt being denominated in a different functional currency than that of Just Energy, the conversion feature is recorded as a financial liability instead of a component of equity. Therefore, the conversion feature of the 6.5% US$8.5 6.5% $150.0 6.5% 8.8%. July 29, 2019, US$13.2 6.5% $9.2 6.5% July 29, 2019 December 31, 2020, July 17, 2019. (g) Supplier finance and other costs for the quarter ended June 30, 2020 As described within Note 3

Note 10 - Reportable Business S

Note 10 - Reportable Business Segments	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of entity's operating segments [text block]	10. REPORTABLE BUSINESS SEGMENTS Just Energy's reportable segments are the Consumer segment and the Commercial segment. The chief operating decision maker monitors the operational results of the Consumer and Commercial segments for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on certain non-IFRS measures such as base gross margin. Transactions between segments are in the normal course of operations and are recorded at the exchange amount. Allocations made between segments for shared assets or allocated expenses are based on the number of residential customer equivalents in the respective segments. Corporate and shared services report the costs related to management oversight of the business units, public reporting and filings, corporate governance and other shared services functions. For the three June 30, 2020: Consumer Commercial Corporate and shared services Consolidated Sales $ 371,796 $ 221,338 $ - $ 593,134 Cost of goods sold 185,441 138,556 - 323,997 Gross margin 186,355 82,782 - 269,137 Depreciation of property and equipment 2,661 26 - 2,687 Amortization of intangible assets 3,704 888 - 4,592 Administrative expenses 8,461 5,835 25,657 39,953 Selling and marketing expenses 27,556 19,403 - 46,959 Other operating expenses 9,115 3,517 - 12,632 Segment profit (loss) for the period $ 134,858 $ 53,113 $ (25,657 ) $ 162,314 Finance costs (21,853 ) Unrealized gain of derivative instruments and other 77,349 Realized loss of derivative instruments (134,446 ) Other income, net (632 ) Provision for income taxes (634 ) Profit for the period from continuing operations $ 82,098 Loss from discontinued operations (2,948 ) Profit for the period 79,150 Capital expenditures $ 1,521 $ 165 $ - $ 1,686 As at June 30, 2020 Total goodwill $ 170,854 $ 98,748 $ - $ 269,602 Total assets $ 859,268 $ 252,699 $ - $ 1,111,967 Total liabilities $ 1,383,132 $ 139,531 $ - $ 1,522,663 For the three June 30, 2019: Consumer Commercial Corporate and shared services Consolidated Sales $ 409,998 $ 260,167 $ - $ 670,165 Cost of goods sold 259,260 198,681 - 457,941 Gross margin 150,738 61,486 - 212,224 Depreciation of property and equipment 2,950 38 - 2,988 Amortization of intangible assets 7,680 692 - 8,372 Administrative expenses 11,234 6,152 23,417 40,803 Selling and marketing expenses 41,798 19,906 - 61,704 Other operating expenses 22,969 1,436 - 24,405 Segment profit (loss) for the period $ 64,107 $ 33,262 $ (23,417 ) $ 73,952 Finance costs (23,546 ) Unrealized loss of derivative instruments and other (241,999 ) Realized loss of derivative instruments (79,932 ) Other income (740 ) Recovery of income taxes 2,294 Loss for the period from continuing operations $ (269,971 ) Loss from discontinued operations (5,189 ) Loss for the period (275,160 ) Capital expenditures $ 9,170 $ 749 $ - $ 9,919 As at June 30, 2019 Total goodwill $ 172,072 $ 165,324 $ - $ 337,396 Total assets $ 1,117,435 $ 419,380 $ - $ 1,536,815 Total liabilities $ 1,713,787 $ 204,250 $ - $ 1,918,037 Sales from external customers The revenue is based on the location of the customer. Three months ended Three months ended June 30, 2020 June 30, 2019 Canada $ 58,147 $ 75,485 U.S. 534,987 594,680 Total $ 593,134 $ 670,165 For the three June 30, 2020, 89% 11%, Non-current assets Non-current assets by geographic segment consist of property and equipment and intangible assets and are summarized as follows: As at June 30, 2020 As at March 31, 2020 Canada $ 232,219 $ 233,678 United States 154,073 166,074 Total $ 386,292 $ 399,752

Note 11 - Income Taxes

Note 11 - Income Taxes	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of income tax [text block]	11. INCOME TAXES Three months ended Three months ended June 30, 2020 June 30, 2019 Current income tax expense $ 873 $ 462 Deferred income tax recovery (239 ) (2,756 ) Provision for (recovery of) income taxes $ 634 $ (2,294 )

Note 12 - Shareholders' Capital

Note 12 - Shareholders' Capital	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of issued capital [text block]	12. SHAREHOLDERS' CAPITAL Just Energy is authorized to issue an unlimited number of common shares and 50,000,000 no no (a) Details of issued and outstanding shareholders' capital are as follows: Three months ended Year ended June 30, 2020 March 31, 2020 Shares Amount Shares Amount Common shares: Issued and outstanding Balance, beginning of period 151,614,238 $ 1,099,864 149,595,952 $ 1,088,538 Share-based awards exercised 26,336 162 2,018,286 11,326 Balance, end of period 151,640,574 $ 1,100,026 151,614,238 $ 1,099,864 Preferred shares: Issued and outstanding Balance, beginning of period 4,662,165 $ 146,965 4,662,165 $ 146,965 Balance, end of period 4,662,165 $ 146,965 4,662,165 $ 146,965 Shareholders' capital 156,302,739 $ 1,246,991 156,276,403 $ 1,246,829 (b) Dividends and distributions In the second 2020, June 30, 2020, $nil 2019 $0.125 $nil 2019 $18,714 As a result of the dividend suspension, distributions related to the dividends also ceased. Distributions in the first 2021 $23 2019 $23 For the quarter ended June 30, 2020, $nil 2019 US$0.53125 $nil 2019 $3,333 In connection with amendments to the credit facility and 8.75% December 2, 2019, no 1.50:1 two December 2, 2019, As described within Note 3

Note 13 - Other Expenses

Note 13 - Other Expenses	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of other operating income (expense) [text block]	13. OTHER EXPENSES (a) Other operating expenses Three months ended Three months ended June 30, 2020 June 30, 2019 Amortization of intangible assets $ 4,592 $ 8,372 Depreciation of property and equipment 2,687 2,988 Bad debt expense 11,940 17,287 Share-based compensation 692 7,118 $ 19,911 $ 35,765 (b) Employee expenses Three months ended Three months ended June 30, 2020 June 30, 2019 Wages, salaries and commissions $ 36,219 $ 61,757 Benefits 6,488 7,270 $ 42,707 $ 69,027 Employee expenses of $15.2 $27.5 first 2021 $23.4 $45.6 2020.

Note 14 - Profit (Loss) Per Sha

Note 14 - Profit (Loss) Per Share	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of earnings per share [text block]	14. PROFIT (LOSS) PER SHARE Three months Three months ended ended June 30, 2020 June 30, 2019 BASIC EARNINGS (LOSS) PER SHARE Profit (loss) from continuing operations available to shareholders $ 82,098 $ (269,971 ) Dividend to preferred shareholders, net of tax 3,319 2,450 Earnings (loss) from continuing operations available to shareholders, net of tax 78,779 (272,421 ) Basic weighted average shares outstanding 151,622,538 149,846,539 Basic earnings (loss) per share from continuing operations available to shareholders $ 0.52 $ (1.82 ) Basic earnings (loss) per share available to shareholders $ 0.50 $ (1.85 ) DILUTED EARNINGS (LOSS) PER SHARE Profit (loss) from continuing operations available to shareholders $ 78,779 $ (272,421 ) Adjustment for dilutive impact of convertible debentures 4,541 - Adjusted earnings (loss) from continuing operations available to shareholders $ 83,320 $ (272,421 ) Basic weighted average shares outstanding 151,622,538 149,846,539 Dilutive effect of: Restricted share and performance bonus grants 2,222,576 1 3,123,247 1 Deferred share grants 203,185 1 184,546 1 Convertible debentures 39,574,831 1 30,662,288 1 Shares outstanding on a diluted basis 193,623,130 183,816,620 Diluted earnings (loss) from continuing operations per share available to shareholders $ 0.43 $ (1.82 ) Diluted earnings (loss) per share available to shareholders $ 0.41 $ (1.85 ) 1 not 6.5% 6.75% $160M 6.75% $100M

Note 15 - Discontinued Operatio

Note 15 - Discontinued Operations	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of non-current assets held for sale and discontinued operations [text block]	15. DISCONTINUED OPERATIONS In March 2019, June 2019, November 29, 2019, April 10, 2020, 1,000 $1.1 June 30, 2020, Assets and liabilities of the discontinued operations classified as held for sale were as follows: As at As at June 30, 2020 March 31, 2020 ASSETS Current assets Cash and cash equivalents $ 1,222 $ 898 Current trade and other receivables 997 4,978 Income taxes recoverable 12 12 Other current assets 599 1,140 2,830 7,028 Non-current assets Property and equipment 37 38 Intangible assets 535 545 ASSETS CLASSIFIED AS HELD FOR SALE $ 3,402 $ 7,611 Liabilities Current liabilities Trade and other payables $ 2,117 $ 4,823 Deferred revenue 81 83 LIABILITIES CLASSIFIED AS HELD FOR SALE $ 2,198 $ 4,906

Note 16 - Commitments and Conti

Note 16 - Commitments and Contingencies	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of commitments and contingent liabilities [text block]	16. COMMITMENTS AND CONTINGENCIES Commitments for each of the next five As at June 30, 2020 Less than 1 year 1–3 years 4–5 years More than 5 years Total Gas, electricity and non-commodity contracts $ 1,125,798 $ 1,386,530 $ 325,257 $ 100,842 $ 2,938,427 (a) Surety bonds and letters of credit Pursuant to separate arrangements with several bond agencies, Just Energy has issued surety bonds to various counterparties including states, regulatory bodies, utilities and various other surety bond holders in return for a fee and/or meeting certain collateral posting requirements. Such surety bond postings are required in order to operate in certain states or markets. Total surety bonds issued as at June 30, 2020 $48.9 March 31, 2020 - $66.2 As at June 30, 2020, $63.2 9 (b) Legal proceedings Just Energy's subsidiaries are party to a number of legal proceedings. Other than as set out below, Just Energy believes that each proceeding constitutes legal matters that are incidental to the business conducted by Just Energy and that the ultimate disposition of the proceedings will not In March 2012, 1,800 8,000 October 6, 2014, not September 28, 2018, October 25, 2018. October 24, 2019. 138 1134, 1142 2018 2d No. 17 0546. In May 2015, 2000, July 27, 2016, June 21, 2019. November 15, 2021. On July 23, 2019, November 9, 2017 August 19, 2019. one one In March 2020, September 10, 2018 ( first 9,500,000

Note 5 - Trade and Other Rece_2

Note 5 - Trade and Other Receivables, Net (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of the components of trade and other receivables [text block]	As at As at June 30, 2020 March 31, 2020 Trade accounts receivable, net $ 188,677 $ 241,969 Accrued gas receivables 4,779 7,224 Unbilled revenues, net 120,312 121,993 Other 58,762 32,721 $ 372,530 $ 403,907
Disclosure of financial assets that are either past due or impaired [text block]	As at As at June 30, 2020 March 31, 2020 Current $ 79,981 $ 83,431 1–30 days 15,023 26,678 31–60 days 5,806 6,513 61–90 days 2,630 5,505 Over 90 days 23,302 35,252 $ 126,742 $ 157,379
Disclosure Of Allowance For Credit Losses [text block]	As at As at June 30, 2020 March 31, 2020 Balance, beginning of period $ 45,832 $ 182,365 Provision for doubtful accounts 11,940 80,050 Bad debts written off (23,274 ) (138,514 ) Foreign exchange 2,879 3,124 Assets classified as held for sale - (81,193 ) Balance, end of period $ 37,377 $ 45,832 Allowance for doubtful accounts on accounts receivable $ 34,388 $ 43,127 Allowance for doubtful accounts on unbilled revenue 2,989 2,705 Total allowance for doubtful accounts $ 37,377 $ 45,832

Note 6 - Other Current and No_2

Note 6 - Other Current and Non-current Assets (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of the components of prepayments and other assets [text block]	As at As at Other current assets June 30, 2020 March 31, 2020 Prepaid expenses and deposits $ 28,029 $ 55,972 Customer acquisition costs 66,865 77,939 Green certificates 43,784 63,728 Gas delivered in excess of consumption 2,030 2,393 Inventory 3,149 3,238 $ 143,857 $ 203,270 As at As at Other non-current assets June 30, 2020 March 31, 2020 Customer acquisition costs $ 37,236 $ 43,686 Other long-term assets 10,384 12,764 $ 47,620 $ 56,450

Note 7 - Financial Instruments

Note 7 - Financial Instruments (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of financial instruments at fair value through profit or loss [text block]	Three months ended Three months ended June 30, 2020 June 30, 2019 Physical forward contracts and options (i) $ 48,380 $ (224,974 ) Financial swap contracts and options (ii) 28,121 (15,635 ) Foreign exchange forward contracts (6,051 ) (227 ) Share swap - 836 Unrealized foreign exchange on 6.5% convertible bond 12,218 5,815 Weather derivatives (iii) (2,381 ) (3,021 ) Other derivative options (2,938 ) (4,793 ) Unrealized gain (loss) of derivative instruments and other $ 77,349 $ (241,999 )
Disclosure of detailed information about financial instruments [text block]	Financial assets Financial assets Financial liabilities (current) Financial liabilities Physical forward contracts and options (i) $ 46,342 $ 20,298 $ 41,935 $ 40,983 Financial swap contracts and options (ii) 5,738 1,823 32,032 16,447 Foreign exchange forward contracts 1,349 155 - - Weather derivatives (iii) 593 - 2,341 270 Other derivative options 1,050 4,653 3,344 - As at June 30, 2020 $ 55,072 $ 26,929 $ 79,652 $ 57,700 Financial assets Financial assets Financial liabilities Financial liabilities Physical forward contracts and options (i) $ 24,549 $ 17,673 $ 57,461 $ 51,836 Financial swap contracts and options (ii) 6,915 1,492 53,917 24,432 Foreign exchange forward contracts 4,519 3,036 - - Weather derivatives (iii) - - 280 - Other derivative options 370 6,591 1,780 - As at March 31, 2020 $ 36,353 $ 28,792 $ 113,438 $ 76,268
Disclosure of fair value measurement of assets and liabilities [text block]	Level 1 Level 2 Level 3 Total Derivative financial assets $ - $ - $ 82,001 $ 82,001 Derivative financial liabilities - (25,377 ) (111,975 ) (137,352 ) Total net derivative financial assets (liabilities) $ - $ (25,377 ) $ (29,974 ) $ (55,351 ) Level 1 Level 2 Level 3 Total Derivative financial assets $ - $ - $ 65,145 $ 65,145 Derivative financial liabilities - (38,676 ) (151,030 ) (189,706 ) Total net derivative financial assets (liabilities) $ - $ (38,676 ) $ (85,885 ) $ (124,561 )
Disclosure of fair value measurement of liabilities [text block]	Three months ended Year ended June 30, 2020 March 31, 2020 Balance, beginning of period $ (85,885 ) $ 17,310 Total gains (23,041 ) (3,822 ) Purchases 3,687 (43,663 ) Sales (7,988 ) 14,549 Settlements 83,253 (70,259 ) Balance, end of period $ (29,974 ) $ (85,885 )
Disclosure of maturity analysis for non-derivative financial liabilities [text block]	Carrying Contractual Less than More than amount cash flows 1 year 1–3 years 4–5 years 5 years Trade and other payables $ 559,441 $ 559,441 $ 559,441 $ - $ - $ - Long-term debt 1 782,256 822,902 263,592 263,105 296,205 - Gas, electricity and non-commodity contracts 137,352 2,938,427 1,125,798 1,386,530 325,257 100,842 $ 1,479,049 $ 4,320,770 $ 1,948,831 $ 1,649,635 $ 621,462 $ 100,842
Disclosure of maturity analysis for contractual net interest payments [text block]	Less than 1 year 1–3 years 4–5 years More than 5 years Interest payments $ 42,895 $ 68,417 $ 5,834 $ -

Note 8 - Trade and Other Paya_2

Note 8 - Trade and Other Payables (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about trade and other payables [text block]	As at As at June 30, 2020 March 31, 2020 Commodity suppliers' accruals and payables $ 364,355 $ 414,581 Green provisions and repurchase obligations 69,648 103,245 Sales tax payable 27,216 19,706 Non-commodity trade accruals and accounts payable 67,843 117,473 Current portion of payable to former joint venture partner 16,179 18,194 Accrued gas payable 2,331 3,295 Other payables 11,869 9,171 $ 559,441 $ 685,665

Note 9 - Long-term Debt and F_2

Note 9 - Long-term Debt and Financing (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about borrowings [text block]	As at As at Maturity June 30, 2020 March 31, 2020 Credit facility (a) December 1, 2020 $ 246,256 $ 236,389 Less: Debt issue costs (a) (683 ) (1,644 ) Filter Group financing (b) October 25, 2023 8,039 9,690 8.75% loan (c) September 12, 2023 270,543 280,535 6.75% $100M convertible debentures (d) March 31, 2023 90,907 90,187 6.75% $160M convertible debentures (e) December 31, 2021 154,791 153,995 6.5% convertible bonds (f) December 31, 2020 12,403 12,851 782,256 782,003 Less: Current portion (262,909 ) (253,485 ) $ 519,347 $ 528,518
Disclosure of maturity of debt [text block]	Less than 1 year 1–3 years 4–5 years Total Credit facility (a) $ 246,256 $ - $ - $ 246,256 Filter Group financing (b) 4,933 3,105 - 8,038 8.75% loan (c) - - 296,205 296,205 6.75% $100M convertible debentures (d) - 100,000 - 100,000 6.75% $160M convertible debentures (e) - 160,000 - 160,000 6.5% convertible bonds (f) 12,403 - - 12,403 $ 263,592 $ 263,105 $ 296,205 $ 822,902
Disclosure of finance cost [text block]	2020 2019 Credit facility (a) $ 5,135 $ 6,052 Filter Group financing (b) 206 384 8.75% loan (c) 9,264 7,337 6.75% $100M convertible debentures (d) 2,408 2,337 6.75% $160M convertible debentures (e) 3,496 3,430 6.5% convertible bonds (f) 275 804 Supplier finance and others (g) 1,069 3,202 $ 21,853 $ 23,546

Note 10 - Reportable Business_2

Note 10 - Reportable Business Segments (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of operating segments [text block]	Consumer Commercial Corporate and shared services Consolidated Sales $ 371,796 $ 221,338 $ - $ 593,134 Cost of goods sold 185,441 138,556 - 323,997 Gross margin 186,355 82,782 - 269,137 Depreciation of property and equipment 2,661 26 - 2,687 Amortization of intangible assets 3,704 888 - 4,592 Administrative expenses 8,461 5,835 25,657 39,953 Selling and marketing expenses 27,556 19,403 - 46,959 Other operating expenses 9,115 3,517 - 12,632 Segment profit (loss) for the period $ 134,858 $ 53,113 $ (25,657 ) $ 162,314 Finance costs (21,853 ) Unrealized gain of derivative instruments and other 77,349 Realized loss of derivative instruments (134,446 ) Other income, net (632 ) Provision for income taxes (634 ) Profit for the period from continuing operations $ 82,098 Loss from discontinued operations (2,948 ) Profit for the period 79,150 Capital expenditures $ 1,521 $ 165 $ - $ 1,686 As at June 30, 2020 Total goodwill $ 170,854 $ 98,748 $ - $ 269,602 Total assets $ 859,268 $ 252,699 $ - $ 1,111,967 Total liabilities $ 1,383,132 $ 139,531 $ - $ 1,522,663 Consumer Commercial Corporate and shared services Consolidated Sales $ 409,998 $ 260,167 $ - $ 670,165 Cost of goods sold 259,260 198,681 - 457,941 Gross margin 150,738 61,486 - 212,224 Depreciation of property and equipment 2,950 38 - 2,988 Amortization of intangible assets 7,680 692 - 8,372 Administrative expenses 11,234 6,152 23,417 40,803 Selling and marketing expenses 41,798 19,906 - 61,704 Other operating expenses 22,969 1,436 - 24,405 Segment profit (loss) for the period $ 64,107 $ 33,262 $ (23,417 ) $ 73,952 Finance costs (23,546 ) Unrealized loss of derivative instruments and other (241,999 ) Realized loss of derivative instruments (79,932 ) Other income (740 ) Recovery of income taxes 2,294 Loss for the period from continuing operations $ (269,971 ) Loss from discontinued operations (5,189 ) Loss for the period (275,160 ) Capital expenditures $ 9,170 $ 749 $ - $ 9,919 As at June 30, 2019 Total goodwill $ 172,072 $ 165,324 $ - $ 337,396 Total assets $ 1,117,435 $ 419,380 $ - $ 1,536,815 Total liabilities $ 1,713,787 $ 204,250 $ - $ 1,918,037
Disclosure of geographical areas [text block]	Three months ended Three months ended June 30, 2020 June 30, 2019 Canada $ 58,147 $ 75,485 U.S. 534,987 594,680 Total $ 593,134 $ 670,165 As at June 30, 2020 As at March 31, 2020 Canada $ 232,219 $ 233,678 United States 154,073 166,074 Total $ 386,292 $ 399,752

Note 11 - Income Taxes (Tables)

Note 11 - Income Taxes (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of the detailed information of income tax [text block]	Three months ended Three months ended June 30, 2020 June 30, 2019 Current income tax expense $ 873 $ 462 Deferred income tax recovery (239 ) (2,756 ) Provision for (recovery of) income taxes $ 634 $ (2,294 )

Note 12 - Shareholders' Capit_2

Note 12 - Shareholders' Capital (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of classes of share capital [text block]	Three months ended Year ended June 30, 2020 March 31, 2020 Shares Amount Shares Amount Common shares: Issued and outstanding Balance, beginning of period 151,614,238 $ 1,099,864 149,595,952 $ 1,088,538 Share-based awards exercised 26,336 162 2,018,286 11,326 Balance, end of period 151,640,574 $ 1,100,026 151,614,238 $ 1,099,864 Preferred shares: Issued and outstanding Balance, beginning of period 4,662,165 $ 146,965 4,662,165 $ 146,965 Balance, end of period 4,662,165 $ 146,965 4,662,165 $ 146,965 Shareholders' capital 156,302,739 $ 1,246,991 156,276,403 $ 1,246,829

Note 13 - Other Expenses (Table

Note 13 - Other Expenses (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of other operating expense [text block]	Three months ended Three months ended June 30, 2020 June 30, 2019 Amortization of intangible assets $ 4,592 $ 8,372 Depreciation of property and equipment 2,687 2,988 Bad debt expense 11,940 17,287 Share-based compensation 692 7,118 $ 19,911 $ 35,765
Disclosure of employee benefits [text block]	Three months ended Three months ended June 30, 2020 June 30, 2019 Wages, salaries and commissions $ 36,219 $ 61,757 Benefits 6,488 7,270 $ 42,707 $ 69,027

Note 14 - Profit (Loss) Per S_2

Note 14 - Profit (Loss) Per Share (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Earnings per share [text block]	Three months Three months ended ended June 30, 2020 June 30, 2019 BASIC EARNINGS (LOSS) PER SHARE Profit (loss) from continuing operations available to shareholders $ 82,098 $ (269,971 ) Dividend to preferred shareholders, net of tax 3,319 2,450 Earnings (loss) from continuing operations available to shareholders, net of tax 78,779 (272,421 ) Basic weighted average shares outstanding 151,622,538 149,846,539 Basic earnings (loss) per share from continuing operations available to shareholders $ 0.52 $ (1.82 ) Basic earnings (loss) per share available to shareholders $ 0.50 $ (1.85 ) DILUTED EARNINGS (LOSS) PER SHARE Profit (loss) from continuing operations available to shareholders $ 78,779 $ (272,421 ) Adjustment for dilutive impact of convertible debentures 4,541 - Adjusted earnings (loss) from continuing operations available to shareholders $ 83,320 $ (272,421 ) Basic weighted average shares outstanding 151,622,538 149,846,539 Dilutive effect of: Restricted share and performance bonus grants 2,222,576 1 3,123,247 1 Deferred share grants 203,185 1 184,546 1 Convertible debentures 39,574,831 1 30,662,288 1 Shares outstanding on a diluted basis 193,623,130 183,816,620 Diluted earnings (loss) from continuing operations per share available to shareholders $ 0.43 $ (1.82 ) Diluted earnings (loss) per share available to shareholders $ 0.41 $ (1.85 )

Note 15 - Discontinued Operat_2

Note 15 - Discontinued Operations (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Schedule of non-current assets held for sale and discontinued operations [text block]	As at As at June 30, 2020 March 31, 2020 ASSETS Current assets Cash and cash equivalents $ 1,222 $ 898 Current trade and other receivables 997 4,978 Income taxes recoverable 12 12 Other current assets 599 1,140 2,830 7,028 Non-current assets Property and equipment 37 38 Intangible assets 535 545 ASSETS CLASSIFIED AS HELD FOR SALE $ 3,402 $ 7,611 Liabilities Current liabilities Trade and other payables $ 2,117 $ 4,823 Deferred revenue 81 83 LIABILITIES CLASSIFIED AS HELD FOR SALE $ 2,198 $ 4,906

Note 16 - Commitments and Con_2

Note 16 - Commitments and Contingencies (Tables)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Disclosure of commitments [text block]	Less than 1 year 1–3 years 4–5 years More than 5 years Total Gas, electricity and non-commodity contracts $ 1,125,798 $ 1,386,530 $ 325,257 $ 100,842 $ 2,938,427

Note 2 - Operations (Details Te

Note 2 - Operations (Details Textual)	3 Months Ended
	Jun. 30, 2020
Statement Line Items [Line Items]
Fixed price and price protected program contract period	5
Proportion of ownership interest in associate	8.00%

Note 3 - Financial Statement _2

Note 3 - Financial Statement Presentation (Details Textual) $ in Thousands, $ in Millions

Aug. 26, 2020CAD ($)

Jul. 08, 2020CAD ($)

Jun. 30, 2020USD ($)

Jun. 30, 2020CAD ($)

Mar. 31, 2020CAD ($)

Dec. 31, 2019

Dec. 02, 2019

Sep. 12, 2018USD ($)

Apr. 18, 2018USD ($)

Apr. 18, 2018CAD ($)

Statement Line Items [Line Items]

Total borrowings

$ 782,256

$ 782,003

Preferred shares, fixed-to-floating rate

8.50%

Equity investment commitment

$ 100,000

Initial reduction of annual cash interest expense

$ 45,000

Additonal terms to recapitalization [Member]

Statement Line Items [Line Items]

Private placement, shares to be issued, amount

$ 3,700

Credit facility [member]

Statement Line Items [Line Items]

Borrowings, debt accordion

$ 370,000

Borrowings, senior debit to EBITDA covenant ratio

2

2

1.5

Borrowings, EBITDA covenant ratio

4

4

3.5

Borrowings, interest rate

6.75%

3.75%

3.75%

Total borrowings

$ 335,000

$ 246,256

$ 236,389

[1]

Senior unsecured 8.75% term loan [member]

Statement Line Items [Line Items]

Notional amount

$ 250

$ 250

Borrowings, interest rate

8.75%

8.75%

[2]

8.75%

[2]

8.75%

[2]

8.75%

8.75%

Total borrowings

$ 207

$ 270,543

[3]

$ 280,535

[3]

Subordinated convertible debentures due March 31, 2023 [member]

Statement Line Items [Line Items]

Borrowings, convertible, exchange for common equity

$ 100,000

Subordinated convertible debentures due December 31, 2021 [member]

Statement Line Items [Line Items]

Borrowings, interest rate

6.75%

Borrowings, convertible, exchange for common equity

$ 160,000

New Subordinated Notes [Member] | Additonal terms to recapitalization [Member]

Statement Line Items [Line Items]

Notional amount

$ 15,000

Borrowings, interest rate

7.00%

Borrowings, term (Year)

6 years

[1]

In April 2018 the credit facility size was increased to $352.5 million from $342.5 million, with an accordion for Just Energy to draw up to $370 million. On June 28, 2019, the Company exercised its option to access the amounts relating to the accordion agreement as part of the credit facility. Certain principal amount outstanding under the letter of credit facility is guaranteed by Export Development Canada under its Account Performance Security Guarantee Program. The Company amended its senior secured credit facility to increase the senior debt to EBITDA covenant ratio from 1.50:1 to 2.00:1 and the total debt to EBITDA covenant from 3.50:1 to 4.00:1 for the first quarter of fiscal 2021. As at June 30, 2020, the Company was compliant with all of these covenants. On July 8, 2020, the Company announced a comprehensive Recapitalization that is expected to be implemented in September 2020 and amended the maturity date of the existing credit facility from September 1, 2020 to December 1, 2020. The Recapitalization includes a $335 million extension of the credit facility for three years to December 2023. Interest is payable on outstanding loans at rates that vary with Bankers' Acceptance rates, LIBOR, Canadian bank prime rate or U.S. prime rate. Under the terms of the operating credit facility, Just Energy is able to make use of Bankers' Acceptances and LIBOR advances at stamping fees of 3.750%. Prime rate advances are at a rate of bank prime (Canadian bank prime rate or U.S. prime rate) plus 2.750% and letters of credit are at a rate of 3.750%. Interest rates are adjusted quarterly based on certain financial performance indicators. As at June 30, 2020, the Canadian prime rate was 2.45% and the U.S. prime rate was 3.25%. As at June 30, 2020, $246.3 million has been drawn against the facility and total letters of credit outstanding as of June 30, 2020, amounted to $63.2 million (March 31, 2020 - $72.5 million). As at June 30, 2020, Just Energy has $60.5 million of the facility remaining for future working capital and/or security requirements. Just Energy's obligations under the credit facility is supported by guarantees of certain subsidiaries and affiliates and secured by a general security agreement and a pledge of the assets and securities of Just Energy and the majority of its operating subsidiaries and affiliates excluding, primarily, the Barbados and German operations.

[2]

On September 12, 2018, Just Energy entered into a US$250 million non-revolving multi-draw senior unsecured term loan facility (the "8.75% loan") with Sagard Credit Partners, LP and certain funds managed by a leading U.S.-based global fixed income asset manager. The 8.75% loan bears interest at 8.75% per annum payable semi-annually in arrears on June 30 and December 31 in each year plus fees and will mature on September 12, 2023. Counterparties were issued 7.5 million warrants at a strike price of $8.56 each, convertible to one Just Energy common stock. The value of these warrants has been assessed as nominal. The 8.75% loan has three tranches. The first tranche of US$50 million is earmarked for general corporate purposes, including to pay down Just Energy's credit facility. The second tranche of US$150 million is earmarked towards the settlement of Just Energy's 6.5% convertible bonds. The third tranche of US$50 million is earmarked for investments and future acquisitions. As of June 30, 2020, US$207.0 million was drawn from the 8.75% loan. In July 2019, the Company drew US$14 million on the debt which was secured by a personal guarantee from a director of the Company. At June 30, 2020 the Company has US$43.0 million available under the facility to draw, earmarked for investments and future acquisitions. The Company has amended the covenants on its senior unsecured term loan facility to increase the senior debt to EBITDA covenant ratio from 1.65:1 to 2.30:1 and the total debt to EBITDA covenant from 3.50:1 to 4.25:1 for the first quarter of fiscal 2021. As at June 30, 2020 the Company was compliant with all of these covenants. The Recapitalization announced by the Company on July 8, 2020 includes an extension of the senior unsecured loan facility for the US$205.9 million to March 2024, with a portion of interest to be paid in-kind.

[3]

On September 12, 2018, Just Energy entered into a US$250 million non-revolving multi-draw senior unsecured term loan facility (the "8.75% loan") with Sagard Credit Partners, LP and certain funds managed by a leading U.S.-based global fixed income asset manager. The 8.75% loan bears interest at 8.75% per annum payable semi-annually in arrears on June 30 and December 31 in each year plus fees and will mature on September 12, 2023. Counterparties were issued 7.5 million warrants at a strike price of $8.56 each, convertible to one Just Energy common stock. The value of these warrants has been assessed as nominal. The 8.75% loan has three tranches. The first tranche of US$50 million is earmarked for general corporate purposes, including to pay down Just Energy's credit facility. The second tranche of US$150 million is earmarked towards the settlement of Just Energy's 6.5% convertible bonds. The third tranche of US$50 million is earmarked for investments and future acquisitions. As of June 30, 2020, US$207.0 million was drawn from the 8.75% loan. In July 2019, the Company drew US$14 million on the debt which was secured by a personal guarantee from a director of the Company. At June 30, 2020 the Company has US$43.0 million available under the facility to draw, earmarked for investments and future acquisitions. The Company has amended the covenants on its senior unsecured term loan facility to increase the senior debt to EBITDA covenant ratio from 1.65:1 to 2.30:1 and the total debt to EBITDA covenant from 3.50:1 to 4.25:1 for the first quarter of fiscal 2021. As at June 30, 2020 the Company was compliant with all of these covenants. The Recapitalization announced by the Company on July 8, 2020 includes an extension of the senior unsecured loan facility for the US$205.9 million to March 2024, with a portion of interest to be paid in-kind.

Note 4 - Accounting Policies _2

Note 4 - Accounting Policies and New Standards Adopted (Details Textual) - CAD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
Cost of sales	$ 323,997	$ 457,941
IFRIC agenda decision 11 [member] | Revision of Prior Period, Adjustment [Member]
Statement Line Items [Line Items]
Gain (loss) on designation of financial instrument as measured at fair value through profit or loss because credit derivative is used to manage credit risk		(79,900)
IFRIC agenda decision 11 [member] | Previously Reported [Member]
Statement Line Items [Line Items]
Cost of sales		$ 537,800

Note 5 - Trade and Other Rece_3

Note 5 - Trade and Other Receivables, Net - Components of Trade and Other Receivables (Details) - CAD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Statement Line Items [Line Items]
Trade accounts receivable, net	$ 188,677	$ 241,969
Accrued gas receivables	4,779	7,224
Unbilled revenues, net	120,312	121,993
Other	58,762	32,721
Trade and other current receivables	$ 372,530	$ 403,907

Note 5 - Trade and Other Rece_4

Note 5 - Trade and Other Receivables, Net - Aging of Accounts Receivable (Details) - Trade receivables [member] - Credit risk [member] - CAD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Statement Line Items [Line Items]
Financial assets	$ 126,742	$ 157,379
Current [member]
Statement Line Items [Line Items]
Financial assets	79,981	83,431
No later than one month [member]
Statement Line Items [Line Items]
Financial assets	15,023	26,678
Later than one month and not later than two months [member]
Statement Line Items [Line Items]
Financial assets	5,806	6,513
Later than two months and not later than three months [member]
Statement Line Items [Line Items]
Financial assets	2,630	5,505
Later than three months [member]
Statement Line Items [Line Items]
Financial assets	$ 23,302	$ 35,252

Note 5 - Trade and Other Rece_5

Note 5 - Trade and Other Receivables, Net - Changes in Allowance for Doubtful Accounts (Details) - CAD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Statement Line Items [Line Items]
Balance, beginning of period	$ 45,832	$ 182,365
Provision for doubtful accounts	11,940	80,050
Bad debts written off	(23,274)	(138,514)
Foreign exchange	2,879	3,124
Assets classified as held for sale		(81,193)
Total allowance for doubtful accounts	37,377	182,365
Balance, end of period	37,377	45,832
Trade receivables [member]
Statement Line Items [Line Items]
Balance, beginning of period	43,127
Total allowance for doubtful accounts	43,127	43,127
Balance, end of period	34,388	43,127
Unbilled revenue [member]
Statement Line Items [Line Items]
Balance, beginning of period	2,705
Total allowance for doubtful accounts	2,705	2,705
Balance, end of period	$ 2,989	$ 2,705

Note 6 - Other Current and No_3

Note 6 - Other Current and Non-current Assets - Components of Prepaid Expenses, Deposits, and Other Current Assets (Details) - CAD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Statement Line Items [Line Items]
Prepaid expenses and deposits	$ 28,029	$ 55,972
Customer acquisition costs	66,865	77,939
Green certificates	43,784	63,728
Gas delivered in excess of consumption	2,030	2,393
Inventory	3,149	3,238
Current prepayments and other current assets	143,857	203,270
Customer acquisition costs	37,236	43,686
Other long-term assets	10,384	12,764
Other non-current assets	$ 47,620	$ 56,450

Note 7 - Financial Instrument_2

Note 7 - Financial Instruments (Details Textual) - CAD ($) $ in Thousands	Aug. 22, 2018	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2020	Aug. 21, 2018
Statement Line Items [Line Items]
Number of shares under share swap agreement (in shares)						2,500,000
Value of shares under share swap agreement	$ 23,803					$ 33,803
Cash payments for futures contracts, forward contracts, option contracts and swap contracts, classified as financing activities	$ 10,000	$ 21,488
Foreign exchange basis curve length (Year)		5 years
Not later than one year [member] | Bottom of range [member]
Statement Line Items [Line Items]
Percentage of forecasted cash flows hedged		50.00%
Not later than one year [member] | Top of range [member]
Statement Line Items [Line Items]
Percentage of forecasted cash flows hedged		100.00%
Later than one year and not later than two years [member] | Bottom of range [member]
Statement Line Items [Line Items]
Percentage of forecasted cash flows hedged		0.00%
Later than one year and not later than two years [member] | Top of range [member]
Statement Line Items [Line Items]
Percentage of forecasted cash flows hedged		50.00%
Long-term debt [member]
Statement Line Items [Line Items]
Financial liabilities, at fair value		$ 589,800			$ 596,200
Senior unsecured 8.75% term loan [member]
Statement Line Items [Line Items]
Borrowings, interest rate					8.75%
Senior subordinated 6.75% convertible debentures [member]
Statement Line Items [Line Items]
Financial liabilities, at fair value		$ 100,000
Borrowings, interest rate		6.75%
The 6.75% convertible bonds [member]
Statement Line Items [Line Items]
Financial liabilities, at fair value		$ 160,000
Borrowings, interest rate		6.75%
The 6.5% convertible debentures [member]
Statement Line Items [Line Items]
Borrowings, interest rate		6.50%
Commodity price risk [member]
Statement Line Items [Line Items]
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, percent		10.00%
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, impact on profit or loss		$ 188,963
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, impact on other comprehensive income (loss)		$ 187,861
Commodity price risk [member] | Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, percent			10.00%
Sensitivity analysis for types of market risk, reasonably possible increase in risk variable, impact on profit or loss before taxes			$ 194,030
Sensitivity analysis for types of market risk, reasonably possible decrease in risk variable, impact on profit or loss before taxes			$ 192,928
Currency risk [member]
Statement Line Items [Line Items]
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, percent		5.00%
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, impact on profit or loss		$ 2,900
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, impact on other comprehensive income (loss)		$ 3,000
Interest rate risk [member]
Statement Line Items [Line Items]
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, percent		1.00%
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, impact on profit or loss		$ 551
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, impact on other comprehensive income (loss)		606
Supplier risk [member]
Statement Line Items [Line Items]
Financial assets, at fair value		17,063		8,246
Credit risk [member]
Statement Line Items [Line Items]
Risk exposure associated with instruments sharing characteristic		$ 82,001		$ 102,209

Note 7 - Financial Instrument_3

Note 7 - Financial Instruments - Change in Fair Value of Derivative Instruments (Details) - CAD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
Change in fair value of derivative instruments and other		$ 77,349	$ (241,999)
Physical forward contracts and options [member]
Statement Line Items [Line Items]
Change in fair value of derivative instruments and other	[1]	48,380	(224,974)
Financial swap contracts and options [member]
Statement Line Items [Line Items]
Change in fair value of derivative instruments and other	[2]	28,121	(15,635)
Foreign exchange forward contracts [member]
Statement Line Items [Line Items]
Change in fair value of derivative instruments and other		(6,051)	(227)
Share swap [member]
Statement Line Items [Line Items]
Change in fair value of derivative instruments and other	[3]		836
Unrealized foreign exchange on 6.5% convertible bond [member]
Statement Line Items [Line Items]
Change in fair value of derivative instruments and other		12,218	5,815
Weather derivative [Member]
Statement Line Items [Line Items]
Change in fair value of derivative instruments and other		(2,381)	(3,021)
Other derivative options [member]
Statement Line Items [Line Items]
Change in fair value of derivative instruments and other		$ (2,938)	$ (4,793)
[1]	(i) Physical forward contracts and options consist of: - Electricity contracts with a total remaining volume of 30,394,697 MWh, a weighted average price of $50.25/MWh and expiry dates up to December 31, 2029. - Natural gas contracts with a total remaining volume of 80,779,715 GJs, a weighted average price of $2.57/GJ and expiry dates up to October 31, 2025. - Renewable energy certificates ("RECs") with a total remaining volume of 3,386,395 MWh, a weighted average price of $38.21/REC and expiry dates up to December 31, 2028. - Electricity generation capacity contracts with a total remaining volume of 2,369 MWCap, a weighted average price of $6,508.70/MWCap and expiry dates up to May 31, 2024. - Ancillary contracts with a total remaining volume of 198,765 MWh, a weighted average price of $23.81/MWh and expiry dates up to December 31, 2020.
[2]	(ii) Financial swap contracts and options consist of: - Electricity contracts with a total remaining volume of 14,686,500 MWh, an average price of $46.27/MWh and expiry dates up to December 31, 2024. - Natural gas contracts with a total remaining volume of 112,528,362 GJs, an average price of $3.27/GJ and expiry dates up to December 31, 2025. - Electricity generation capacity contracts with a total remaining volume of 12 MWCap, a weighted average price of $3,934.85/MWCap and expiry dates up to October 31, 2020. - Ancillary contracts with a total remaining volume of 265,020 MWh, a weighted average price of $22.45/MWh and expiry dates up to December 31, 2020.
[3]	(iii) Weather derivatives consist of: - HDD natural gas swaps with price strikes ranging from US$1.75 to US$7.35/MmBTU and temperature strikes from 1,051 to 5,059 HDD and an expiry date of March 31, 2021. - HDD natural gas swaps with price strikes to be set on futures index and temperature strikes from 1,051 to 5,059 HDD and an expiry date of March 31, 2022. - Electricity call options with price strikes of $100/MWh and temperature strikes 84-103 F and expiry date of October 31, 2020. - Put options for CDDs with temperature strikes at historical averages, total tick size of $22 per CDD and expiry date of September 30 or October 31, 2020.

Note 7 - Financial Instrument_4

Note 7 - Financial Instruments - Change in Fair Value of Derivative Instruments (Details) (Parentheticals)	Jun. 30, 2020	Jun. 30, 2019
Unrealized foreign exchange on 6.5% convertible bond [member]
Statement Line Items [Line Items]
Borrowings, interest rate	6.50%	6.50%

Note 7 - Financial Instrument_5

Note 7 - Financial Instruments - Fair Value of Derivative Financial Assets and Liabilities (Details) - CAD ($) $ in Thousands	Jun. 30, 2020		Mar. 31, 2020
Statement Line Items [Line Items]
Fair value of derivative financial assets, current	$ 55,072		$ 36,353
Fair value of derivative financial assets, non-current	26,929		28,792
Fair value of derivative financial liabilities, current	79,652		113,438
Non-current derivative financial liabilities	57,700		76,268
Physical forward contracts and options [member]
Statement Line Items [Line Items]
Fair value of derivative financial assets, current	46,342	[1]	24,549
Fair value of derivative financial assets, non-current	20,298	[1]	17,673
Fair value of derivative financial liabilities, current	41,935	[1]	57,461
Non-current derivative financial liabilities	40,983	[1]	51,836
Financial swap contracts and options [member]
Statement Line Items [Line Items]
Fair value of derivative financial assets, current	5,738	[2]	6,915
Fair value of derivative financial assets, non-current	1,823	[2]	1,492
Fair value of derivative financial liabilities, current	32,032	[2]	53,917
Non-current derivative financial liabilities	16,447	[2]	24,432
Foreign exchange forward contracts [member]
Statement Line Items [Line Items]
Fair value of derivative financial assets, current	1,349		4,519
Fair value of derivative financial assets, non-current	155		3,036
Fair value of derivative financial liabilities, current
Non-current derivative financial liabilities
Weather derivative [Member]
Statement Line Items [Line Items]
Fair value of derivative financial assets, current	593	[3]
Fair value of derivative financial assets, non-current		[3]
Fair value of derivative financial liabilities, current	2,341	[3]	280
Non-current derivative financial liabilities	270	[3]
Other derivative options [member]
Statement Line Items [Line Items]
Fair value of derivative financial assets, current	1,050		370
Fair value of derivative financial assets, non-current	4,653		6,591
Fair value of derivative financial liabilities, current	3,344		1,780
Non-current derivative financial liabilities
[1]	(i) Physical forward contracts and options consist of: - Electricity contracts with a total remaining volume of 30,394,697 MWh, a weighted average price of $50.25/MWh and expiry dates up to December 31, 2029. - Natural gas contracts with a total remaining volume of 80,779,715 GJs, a weighted average price of $2.57/GJ and expiry dates up to October 31, 2025. - Renewable energy certificates ("RECs") with a total remaining volume of 3,386,395 MWh, a weighted average price of $38.21/REC and expiry dates up to December 31, 2028. - Electricity generation capacity contracts with a total remaining volume of 2,369 MWCap, a weighted average price of $6,508.70/MWCap and expiry dates up to May 31, 2024. - Ancillary contracts with a total remaining volume of 198,765 MWh, a weighted average price of $23.81/MWh and expiry dates up to December 31, 2020.
[2]	(ii) Financial swap contracts and options consist of: - Electricity contracts with a total remaining volume of 14,686,500 MWh, an average price of $46.27/MWh and expiry dates up to December 31, 2024. - Natural gas contracts with a total remaining volume of 112,528,362 GJs, an average price of $3.27/GJ and expiry dates up to December 31, 2025. - Electricity generation capacity contracts with a total remaining volume of 12 MWCap, a weighted average price of $3,934.85/MWCap and expiry dates up to October 31, 2020. - Ancillary contracts with a total remaining volume of 265,020 MWh, a weighted average price of $22.45/MWh and expiry dates up to December 31, 2020.
[3]	(iii) Weather derivatives consist of: - HDD natural gas swaps with price strikes ranging from US$1.75 to US$7.35/MmBTU and temperature strikes from 1,051 to 5,059 HDD and an expiry date of March 31, 2021. - HDD natural gas swaps with price strikes to be set on futures index and temperature strikes from 1,051 to 5,059 HDD and an expiry date of March 31, 2022. - Electricity call options with price strikes of $100/MWh and temperature strikes 84-103 F and expiry date of October 31, 2020. - Put options for CDDs with temperature strikes at historical averages, total tick size of $22 per CDD and expiry date of September 30 or October 31, 2020.

Note 7 - Financial Instrument_6

Note 7 - Financial Instruments - Fair Value Measurement Input Sensitivity (Details) - CAD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Statement Line Items [Line Items]
Derivative financial assets	$ 82,001	$ 65,145
Derivative financial liabilities	(137,352)	(189,706)
Total net derivative financial assets (liabilities)	(55,351)	(124,561)
Level 1 of fair value hierarchy [member]
Statement Line Items [Line Items]
Derivative financial assets
Derivative financial liabilities
Total net derivative financial assets (liabilities)
Level 2 of fair value hierarchy [member]
Statement Line Items [Line Items]
Derivative financial assets
Derivative financial liabilities	(25,377)	(38,676)
Total net derivative financial assets (liabilities)	(25,377)	(38,676)
Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Derivative financial assets	82,001	65,145
Derivative financial liabilities	(111,975)	(151,030)
Total net derivative financial assets (liabilities)	$ (29,974)	$ (85,885)

Note 7 - Financial Instrument_7

Note 7 - Financial Instruments - Reconciliation of Level 3 Assets (Liabilities) (Details) - Level 3 of fair value hierarchy [member] - CAD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Statement Line Items [Line Items]
Balance, beginning of period	$ (85,885)	$ 17,310
Total gains	(23,041)	(3,822)
Purchases	3,687	(43,663)
Sales	(7,988)	14,549
Settlements	83,253	(70,259)
Balance, end of period	$ (29,974)	$ (85,885)

Note 7 - Financial Instrument_8

Note 7 - Financial Instruments - Liquidity Risk (Details) - CAD ($) $ in Thousands		Jun. 30, 2020	Mar. 31, 2020
Statement Line Items [Line Items]
Trade and other payables, carrying amount		$ 559,441	$ 685,665
Total borrowings		782,256	782,003
Gas, electricity and non-commodity contracts, carrying amount		137,352	$ 189,706
Liquidity risk [member]
Statement Line Items [Line Items]
Trade and other payables, carrying amount		559,441
Trade and other payables, undiscounted cash flows		559,441
Total borrowings	[1]	782,256
Long-term debt, undiscounted cash flows	[1]	822,902
Gas, electricity and non-commodity contracts, carrying amount		137,352
Gas, electricity and non-commodity contracts, undiscounted cash flows		2,938,427
Total, carrying amount		1,479,049
Total, undiscounted cash flows		4,320,770
Liquidity risk [member] | Not later than one year [member]
Statement Line Items [Line Items]
Trade and other payables, undiscounted cash flows		559,441
Long-term debt, undiscounted cash flows	[1]	263,592
Gas, electricity and non-commodity contracts, undiscounted cash flows		1,125,798
Total, undiscounted cash flows		1,948,831
Liquidity risk [member] | Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Trade and other payables, undiscounted cash flows
Long-term debt, undiscounted cash flows	[1]	263,105
Gas, electricity and non-commodity contracts, undiscounted cash flows		1,386,530
Total, undiscounted cash flows		1,649,635
Liquidity risk [member] | Later than four years and not later than five years [member]
Statement Line Items [Line Items]
Trade and other payables, undiscounted cash flows
Long-term debt, undiscounted cash flows	[1]	296,205
Gas, electricity and non-commodity contracts, undiscounted cash flows		325,257
Total, undiscounted cash flows		621,462
Liquidity risk [member] | Later than five years [member]
Statement Line Items [Line Items]
Trade and other payables, undiscounted cash flows
Long-term debt, undiscounted cash flows	[1]
Gas, electricity and non-commodity contracts, undiscounted cash flows		100,842
Total, undiscounted cash flows		$ 100,842
[1]	Included in long-term debt are the 6.75% $100M convertible debentures, 6.75% $160M convertible debentures and 6.5% convertible bonds, which may be settled through the issuance of shares at the option of the holder or Just Energy upon maturity.

Note 7 - Financial Instrument_9

Note 7 - Financial Instruments - Contractual Net Interest Payments (Details) $ in Thousands	Jun. 30, 2020CAD ($)
Not later than one year [member]
Statement Line Items [Line Items]
Interest payments	$ 42,895
Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Interest payments	68,417
Later than four years and not later than five years [member]
Statement Line Items [Line Items]
Interest payments	5,834
Later than five years [member]
Statement Line Items [Line Items]
Interest payments

Note 8 - Trade and Other Paya_3

Note 8 - Trade and Other Payables - Schedule of Payables (Details) - CAD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Statement Line Items [Line Items]
Commodity suppliers' accruals and payables	$ 364,355	$ 414,581
Green provisions and repurchase obligations	69,648	103,245
Sales tax payable	27,216	19,706
Non-commodity trade accruals and accounts payable	67,843	117,473
Current portion of payable to former joint venture partner	16,179	18,194
Accrued gas payable	2,331	3,295
Other payables	11,869	9,171
Trade and other current payables	$ 559,441	$ 685,665

Note 9 - Long-term Debt and F_3

Note 9 - Long-term Debt and Financing (Details Textual) $ / shares in Units, $ / shares in Units, $ in Millions

Jul. 08, 2020USD ($)

Jul. 29, 2019USD ($)

Sep. 12, 2018$ / sharesshares

Feb. 22, 2018CAD ($)$ / shares

Oct. 05, 2016CAD ($)$ / shares

Jun. 30, 2020CAD ($)

Jun. 30, 2019CAD ($)

Jul. 08, 2020CAD ($)

Jun. 30, 2020USD ($)

Jun. 30, 2020CAD ($)

Mar. 31, 2020CAD ($)

Dec. 31, 2019

Dec. 02, 2019

Jul. 29, 2019CAD ($)

Jun. 30, 2019USD ($)

Jun. 30, 2019CAD ($)

Mar. 31, 2019CAD ($)

Oct. 01, 2018

Sep. 12, 2018USD ($)shares

Apr. 18, 2018USD ($)

Apr. 18, 2018CAD ($)

Mar. 31, 2018CAD ($)

Jan. 29, 2014USD ($)$ / shares

Jan. 29, 2014CAD ($)$ / shares

Statement Line Items [Line Items]

Total borrowings

$ 782,256,000

$ 782,003,000

Total equity

(413,040,000)

(495,288,000)

$ (381,222,000)

Increase (decrease) through conversion of convertible instruments, equity

$ 4,541,000

Non-current derivative financial liabilities

57,700,000

76,268,000

Reserve of equity component of convertible instruments [member]

Statement Line Items [Line Items]

Total equity

$ 13,029,000

13,029,000

$ 13,029,000

$ 13,029,000

Warrants issued in connection to senior unsecured 8.75% term loan [member]

Statement Line Items [Line Items]

Class of warrant or right, issued during period (in shares) | shares

7,500,000

Class of warrant or right, exercise price of warrants or rights (in CAD per share) | $ / shares

$ 8.56

Class of warrant or right, number of securities called by each warrant or right (in shares) | shares

1

Credit facility [member]

Statement Line Items [Line Items]

Borrowings facility, maximum borrowing capacity

$ 352,500,000

$ 342,500,000

Borrowings, debt accordion

$ 370,000,000

Borrowings, senior debit to EBITDA covenant ratio

2

2

1.5

Borrowings, EBITDA covenant ratio

4

4

3.5

Total borrowings

$ 335,000,000

$ 246,256,000

236,389,000

[1]

Borrowings, interest rate

6.75%

6.75%

3.75%

3.75%

Borrowings, letters of credit

63,200,000

72,500,000

Borrowings, remaining borrowing capacity

$ 60,500,000

Credit facility [member] | London Interbank Offered Rate (LIBOR) [member]

Statement Line Items [Line Items]

Borrowings, adjustment to interest rate basis

3.75%

3.75%

Credit facility [member] | Prime Rate [member]

Statement Line Items [Line Items]

Borrowings, adjustment to interest rate basis

2.75%

2.75%

Credit facility [member] | Prime Rate [member] | Country of domicile [member]

Statement Line Items [Line Items]

Borrowings, interest rate

2.45%

2.45%

Credit facility [member] | Prime Rate [member] | UNITED STATES

Statement Line Items [Line Items]

Borrowings, interest rate

3.25%

3.25%

Credit facility [member] | Debt agreement recapitalization [member]

Statement Line Items [Line Items]

Total borrowings

$ 335,000,000

Borrowings, term (Year)

3 years

HTC loan [member]

Statement Line Items [Line Items]

Total borrowings

[2]

$ 8,039,000

9,690,000

HTC loan [member] | Filter Group Inc [member]

Statement Line Items [Line Items]

Borrowings, interest rate

8.99%

Senior unsecured 8.75% term loan [member]

Statement Line Items [Line Items]

Total borrowings

$ 207

$ 270,543,000

[3]

$ 280,535,000

[3]

Borrowings, interest rate

8.75%

8.75%

8.75%

[4]

8.75%

[4]

8.75%

[4]

8.75%

8.75%

Borrowings, remaining borrowing capacity

$ 43

Notional amount

$ 250

$ 250

Proceeds from borrowings

$ 14

Senior unsecured 8.75% term loan [member] | Top of range [member]

Statement Line Items [Line Items]

Borrowings, senior debit to EBITDA covenant ratio

1.5

Senior unsecured 8.75% term loan, tranche one [member]

Statement Line Items [Line Items]

Total borrowings

50

Senior unsecured 8.75% term loan, tranche two [member]

Statement Line Items [Line Items]

Total borrowings

150

Senior unsecured 8.75% term loan, tranche three [member]

Statement Line Items [Line Items]

Total borrowings

$ 50

Senior unsecured term loan facility [member]

Statement Line Items [Line Items]

Borrowings, senior debit to EBITDA covenant ratio

2.3

2.3

1.65

Borrowings, EBITDA covenant ratio

4.25

4.25

3.5

Senior unsecured term loan facility [member] | Debt agreement renegotiation [member]

Statement Line Items [Line Items]

Total borrowings

$ 205.9

The $100 million 6.75% of convertible unsecured senior subordinated debentures [member]

Statement Line Items [Line Items]

Total borrowings

[5]

$ 90,907,000

$ 90,187,000

Borrowings, interest rate

6.75%

6.75%

[6]

6.75%

[6]

6.75%

[6]

Notional amount

$ 100,000,000

$ 100,000,000

[6]

$ 100,000,000

[6]

Borrowings, amount of principal for each conversion

$ 1,000

Borrowings, convertible, conversion ratio

112.3596

Borrowings, convertible, conversion price (in CAD per share) | $ / shares

$ 8.90

Borrowings, effective interest rate

10.70%

Increase (decrease) through conversion of convertible instruments, equity

0

The $100 million 6.75% of convertible unsecured senior subordinated debentures [member] | Reserve of equity component of convertible instruments [member]

Statement Line Items [Line Items]

Total equity

$ 9,700,000

Deferred tax liabilities

$ 2,600,000

Senior subordinated 6.75% convertible debentures [member]

Statement Line Items [Line Items]

Total borrowings

[7]

$ 154,791,000

$ 153,995,000

Borrowings, interest rate

6.75%

6.75%

[8]

6.75%

[8]

6.75%

[8]

Notional amount

$ 160,000,000

$ 160,000,000

[8]

$ 160,000,000

[8]

Borrowings, amount of principal for each conversion

$ 1,000

Borrowings, convertible, conversion ratio

107.5269

Borrowings, convertible, conversion price (in CAD per share) | $ / shares

$ 9.30

Borrowings, effective interest rate

9.10%

Increase (decrease) through conversion of convertible instruments, equity

$ 0

Borrowings, convertible, threshold consecutive trading days (Day)

20 days

Borrowings, threshold trading days (Day)

5 days

Borrowings, convertible, threshold percentage of conversion price

125.00%

Senior subordinated 6.75% convertible debentures [member] | Top of range [member]

Statement Line Items [Line Items]

Borrowings, convertible, notice for redemption (Day)

60 days

Senior subordinated 6.75% convertible debentures [member] | Bottom of range [member]

Statement Line Items [Line Items]

Borrowings, convertible, notice for redemption (Day)

30 days

Senior subordinated 6.75% convertible debentures [member] | Reserve of equity component of convertible instruments [member]

Statement Line Items [Line Items]

Total equity

$ 8,000,000

Deferred tax liabilities

$ 2,100,000

European-focused senior convertible unsecured 6.5% convertible bonds [member]

Statement Line Items [Line Items]

Total borrowings

$ 9,200,000

Borrowings, interest rate

6.50%

6.50%

6.50%

6.50%

Notional amount

$ 150

Borrowings, convertible, conversion price (in CAD per share) | (per share)

$ 9.3762

$ 10.2819

Borrowings, effective interest rate

8.80%

8.80%

Increase (decrease) through conversion of convertible instruments, equity

$ 13.2

Non-current derivative financial liabilities

$ 8,500,000

European-focused senior convertible unsecured 6.5% convertible bonds [member] | At fair value [member]

Statement Line Items [Line Items]

Total borrowings

$ 6.5

[1]

In April 2018 the credit facility size was increased to $352.5 million from $342.5 million, with an accordion for Just Energy to draw up to $370 million. On June 28, 2019, the Company exercised its option to access the amounts relating to the accordion agreement as part of the credit facility. Certain principal amount outstanding under the letter of credit facility is guaranteed by Export Development Canada under its Account Performance Security Guarantee Program. The Company amended its senior secured credit facility to increase the senior debt to EBITDA covenant ratio from 1.50:1 to 2.00:1 and the total debt to EBITDA covenant from 3.50:1 to 4.00:1 for the first quarter of fiscal 2021. As at June 30, 2020, the Company was compliant with all of these covenants. On July 8, 2020, the Company announced a comprehensive Recapitalization that is expected to be implemented in September 2020 and amended the maturity date of the existing credit facility from September 1, 2020 to December 1, 2020. The Recapitalization includes a $335 million extension of the credit facility for three years to December 2023. Interest is payable on outstanding loans at rates that vary with Bankers' Acceptance rates, LIBOR, Canadian bank prime rate or U.S. prime rate. Under the terms of the operating credit facility, Just Energy is able to make use of Bankers' Acceptances and LIBOR advances at stamping fees of 3.750%. Prime rate advances are at a rate of bank prime (Canadian bank prime rate or U.S. prime rate) plus 2.750% and letters of credit are at a rate of 3.750%. Interest rates are adjusted quarterly based on certain financial performance indicators. As at June 30, 2020, the Canadian prime rate was 2.45% and the U.S. prime rate was 3.25%. As at June 30, 2020, $246.3 million has been drawn against the facility and total letters of credit outstanding as of June 30, 2020, amounted to $63.2 million (March 31, 2020 - $72.5 million). As at June 30, 2020, Just Energy has $60.5 million of the facility remaining for future working capital and/or security requirements. Just Energy's obligations under the credit facility is supported by guarantees of certain subsidiaries and affiliates and secured by a general security agreement and a pledge of the assets and securities of Just Energy and the majority of its operating subsidiaries and affiliates excluding, primarily, the Barbados and German operations.

[2]

Filter Group has an outstanding loan payable to Home Trust Company ("HTC"). The loan is a result of factoring receivables to finance the cost of rental equipment over a period of three to five years with HTC and bears interest at 8.99% per annum. Principal and interest are repayable monthly.

[3]

On September 12, 2018, Just Energy entered into a US$250 million non-revolving multi-draw senior unsecured term loan facility (the "8.75% loan") with Sagard Credit Partners, LP and certain funds managed by a leading U.S.-based global fixed income asset manager. The 8.75% loan bears interest at 8.75% per annum payable semi-annually in arrears on June 30 and December 31 in each year plus fees and will mature on September 12, 2023. Counterparties were issued 7.5 million warrants at a strike price of $8.56 each, convertible to one Just Energy common stock. The value of these warrants has been assessed as nominal. The 8.75% loan has three tranches. The first tranche of US$50 million is earmarked for general corporate purposes, including to pay down Just Energy's credit facility. The second tranche of US$150 million is earmarked towards the settlement of Just Energy's 6.5% convertible bonds. The third tranche of US$50 million is earmarked for investments and future acquisitions. As of June 30, 2020, US$207.0 million was drawn from the 8.75% loan. In July 2019, the Company drew US$14 million on the debt which was secured by a personal guarantee from a director of the Company. At June 30, 2020 the Company has US$43.0 million available under the facility to draw, earmarked for investments and future acquisitions. The Company has amended the covenants on its senior unsecured term loan facility to increase the senior debt to EBITDA covenant ratio from 1.65:1 to 2.30:1 and the total debt to EBITDA covenant from 3.50:1 to 4.25:1 for the first quarter of fiscal 2021. As at June 30, 2020 the Company was compliant with all of these covenants. The Recapitalization announced by the Company on July 8, 2020 includes an extension of the senior unsecured loan facility for the US$205.9 million to March 2024, with a portion of interest to be paid in-kind.

[4]

On September 12, 2018, Just Energy entered into a US$250 million non-revolving multi-draw senior unsecured term loan facility (the "8.75% loan") with Sagard Credit Partners, LP and certain funds managed by a leading U.S.-based global fixed income asset manager. The 8.75% loan bears interest at 8.75% per annum payable semi-annually in arrears on June 30 and December 31 in each year plus fees and will mature on September 12, 2023. Counterparties were issued 7.5 million warrants at a strike price of $8.56 each, convertible to one Just Energy common stock. The value of these warrants has been assessed as nominal. The 8.75% loan has three tranches. The first tranche of US$50 million is earmarked for general corporate purposes, including to pay down Just Energy's credit facility. The second tranche of US$150 million is earmarked towards the settlement of Just Energy's 6.5% convertible bonds. The third tranche of US$50 million is earmarked for investments and future acquisitions. As of June 30, 2020, US$207.0 million was drawn from the 8.75% loan. In July 2019, the Company drew US$14 million on the debt which was secured by a personal guarantee from a director of the Company. At June 30, 2020 the Company has US$43.0 million available under the facility to draw, earmarked for investments and future acquisitions. The Company has amended the covenants on its senior unsecured term loan facility to increase the senior debt to EBITDA covenant ratio from 1.65:1 to 2.30:1 and the total debt to EBITDA covenant from 3.50:1 to 4.25:1 for the first quarter of fiscal 2021. As at June 30, 2020 the Company was compliant with all of these covenants. The Recapitalization announced by the Company on July 8, 2020 includes an extension of the senior unsecured loan facility for the US$205.9 million to March 2024, with a portion of interest to be paid in-kind.

[5]

On February 22, 2018, Just Energy issued $100 million of convertible unsecured senior subordinated debentures (the "6.75% $100 million convertible debentures"). The 6.75% $100 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on March 31 and September 30 in each year and have a maturity date of March 31, 2023. Each $1,000 principal amount of the 6.75% $100 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 112.3596 common shares of Just Energy, representing a conversion price of $8.90, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The conversion feature of the 6.75% $100 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $9.7 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.6 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $100 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $100 million over the term of the 6.75% $100 million convertible debentures using an effective interest rate of 10.7%. If the 6.75% $100 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $100 million convertible debentures have been converted or redeemed as at June 30, 2020.

[6]

On February 22, 2018, Just Energy issued $100 million of convertible unsecured senior subordinated debentures (the "6.75% $100 million convertible debentures"). The 6.75% $100 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on March 31 and September 30 in each year and have a maturity date of March 31, 2023. Each $1,000 principal amount of the 6.75% $100 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 112.3596 common shares of Just Energy, representing a conversion price of $8.90, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The conversion feature of the 6.75% $100 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $9.7 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.6 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $100 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $100 million over the term of the 6.75% $100 million convertible debentures using an effective interest rate of 10.7%. If the 6.75% $100 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $100 million convertible debentures have been converted or redeemed as at June 30, 2020.

[7]

On October 5, 2016, Just Energy issued $160 million of convertible unsecured senior subordinated debentures (the "6.75% $160 million convertible debentures"). The 6.75% $160 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on June 30 and December 31 in each year and have a maturity date of December 31, 2021. Each $1,000 principal amount of the 6.75% $160 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 107.5269 common shares of Just Energy, representing a conversion price of $9.30, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The 6.75% $160 million convertible debentures will not be redeemable at the option of the Company on or before December 31, 2019. After December 31, 2019 and prior to December 31, 2020, the 6.75% $160 million convertible debentures may be redeemed in whole or in part from time to time at the option of the Company on not more than 60 days' and not less than 30 days' prior notice, at a price equal to their principal amount plus accrued and unpaid interest, provided that the weighted average trading price of the common shares of Just Energy on the TSX for the 20 consecutive trading days ending five trading days preceding the date on which the notice of redemption is given is at least 125% of the conversion price. The conversion feature of the 6.75% $160 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $8.0 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.1 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $160 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $160 million over the term of the 6.75% $160 million convertible debentures using an effective interest rate of 9.1%. If the 6.75% $160 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $160 million convertible debentures have been converted or redeemed as at June 30, 2020.

[8]

On October 5, 2016, Just Energy issued $160 million of convertible unsecured senior subordinated debentures (the "6.75% $160 million convertible debentures"). The 6.75% $160 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on June 30 and December 31 in each year and have a maturity date of December 31, 2021. Each $1,000 principal amount of the 6.75% $160 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 107.5269 common shares of Just Energy, representing a conversion price of $9.30, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The 6.75% $160 million convertible debentures will not be redeemable at the option of the Company on or before December 31, 2019. After December 31, 2019 and prior to December 31, 2020, the 6.75% $160 million convertible debentures may be redeemed in whole or in part from time to time at the option of the Company on not more than 60 days' and not less than 30 days' prior notice, at a price equal to their principal amount plus accrued and unpaid interest, provided that the weighted average trading price of the common shares of Just Energy on the TSX for the 20 consecutive trading days ending five trading days preceding the date on which the notice of redemption is given is at least 125% of the conversion price. The conversion feature of the 6.75% $160 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $8.0 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.1 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $160 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $160 million over the term of the 6.75% $160 million convertible debentures using an effective interest rate of 9.1%. If the 6.75% $160 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $160 million convertible debentures have been converted or redeemed as at June 30, 2020.

Note 9 - Long-term Debt and F_4

Note 9 - Long-term Debt and Financing - Components of Long-term Debt (Details) $ in Thousands, $ in Millions		3 Months Ended	12 Months Ended
		Jun. 30, 2020CAD ($)	Mar. 31, 2020CAD ($)		Jul. 08, 2020CAD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2020CAD ($)
Statement Line Items [Line Items]
Debt			$ 782,003				$ 782,256
Less: Current portion			(253,485)				(262,909)
Total non-current portion of non-current borrowings			528,518				519,347
Credit facility [member]
Statement Line Items [Line Items]
Debt			236,389	[1]	$ 335,000		246,256
Less: Debt issue costs	[1]	$ (683)	(1,644)
HTC loan [member]
Statement Line Items [Line Items]
Debt	[2]		9,690				8,039
Senior unsecured 8.75% term loan [member]
Statement Line Items [Line Items]
Debt			280,535	[3]		$ 207	270,543	[3]
The $100 million 6.75% of convertible unsecured senior subordinated debentures [member]
Statement Line Items [Line Items]
Debt	[4]		90,187				90,907
Senior subordinated 6.75% convertible debentures [member]
Statement Line Items [Line Items]
Debt	[5]		153,995				154,791
European-focused senior convertible unsecured 6.5% convertible bonds, conversion feature [member]
Statement Line Items [Line Items]
Debt	[6]		$ 12,851				$ 12,403
[1]	In April 2018 the credit facility size was increased to $352.5 million from $342.5 million, with an accordion for Just Energy to draw up to $370 million. On June 28, 2019, the Company exercised its option to access the amounts relating to the accordion agreement as part of the credit facility. Certain principal amount outstanding under the letter of credit facility is guaranteed by Export Development Canada under its Account Performance Security Guarantee Program. The Company amended its senior secured credit facility to increase the senior debt to EBITDA covenant ratio from 1.50:1 to 2.00:1 and the total debt to EBITDA covenant from 3.50:1 to 4.00:1 for the first quarter of fiscal 2021. As at June 30, 2020, the Company was compliant with all of these covenants. On July 8, 2020, the Company announced a comprehensive Recapitalization that is expected to be implemented in September 2020 and amended the maturity date of the existing credit facility from September 1, 2020 to December 1, 2020. The Recapitalization includes a $335 million extension of the credit facility for three years to December 2023. Interest is payable on outstanding loans at rates that vary with Bankers' Acceptance rates, LIBOR, Canadian bank prime rate or U.S. prime rate. Under the terms of the operating credit facility, Just Energy is able to make use of Bankers' Acceptances and LIBOR advances at stamping fees of 3.750%. Prime rate advances are at a rate of bank prime (Canadian bank prime rate or U.S. prime rate) plus 2.750% and letters of credit are at a rate of 3.750%. Interest rates are adjusted quarterly based on certain financial performance indicators. As at June 30, 2020, the Canadian prime rate was 2.45% and the U.S. prime rate was 3.25%. As at June 30, 2020, $246.3 million has been drawn against the facility and total letters of credit outstanding as of June 30, 2020, amounted to $63.2 million (March 31, 2020 - $72.5 million). As at June 30, 2020, Just Energy has $60.5 million of the facility remaining for future working capital and/or security requirements. Just Energy's obligations under the credit facility is supported by guarantees of certain subsidiaries and affiliates and secured by a general security agreement and a pledge of the assets and securities of Just Energy and the majority of its operating subsidiaries and affiliates excluding, primarily, the Barbados and German operations.
[2]	Filter Group has an outstanding loan payable to Home Trust Company ("HTC"). The loan is a result of factoring receivables to finance the cost of rental equipment over a period of three to five years with HTC and bears interest at 8.99% per annum. Principal and interest are repayable monthly.
[3]	On September 12, 2018, Just Energy entered into a US$250 million non-revolving multi-draw senior unsecured term loan facility (the "8.75% loan") with Sagard Credit Partners, LP and certain funds managed by a leading U.S.-based global fixed income asset manager. The 8.75% loan bears interest at 8.75% per annum payable semi-annually in arrears on June 30 and December 31 in each year plus fees and will mature on September 12, 2023. Counterparties were issued 7.5 million warrants at a strike price of $8.56 each, convertible to one Just Energy common stock. The value of these warrants has been assessed as nominal. The 8.75% loan has three tranches. The first tranche of US$50 million is earmarked for general corporate purposes, including to pay down Just Energy's credit facility. The second tranche of US$150 million is earmarked towards the settlement of Just Energy's 6.5% convertible bonds. The third tranche of US$50 million is earmarked for investments and future acquisitions. As of June 30, 2020, US$207.0 million was drawn from the 8.75% loan. In July 2019, the Company drew US$14 million on the debt which was secured by a personal guarantee from a director of the Company. At June 30, 2020 the Company has US$43.0 million available under the facility to draw, earmarked for investments and future acquisitions. The Company has amended the covenants on its senior unsecured term loan facility to increase the senior debt to EBITDA covenant ratio from 1.65:1 to 2.30:1 and the total debt to EBITDA covenant from 3.50:1 to 4.25:1 for the first quarter of fiscal 2021. As at June 30, 2020 the Company was compliant with all of these covenants. The Recapitalization announced by the Company on July 8, 2020 includes an extension of the senior unsecured loan facility for the US$205.9 million to March 2024, with a portion of interest to be paid in-kind.
[4]	On February 22, 2018, Just Energy issued $100 million of convertible unsecured senior subordinated debentures (the "6.75% $100 million convertible debentures"). The 6.75% $100 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on March 31 and September 30 in each year and have a maturity date of March 31, 2023. Each $1,000 principal amount of the 6.75% $100 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 112.3596 common shares of Just Energy, representing a conversion price of $8.90, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The conversion feature of the 6.75% $100 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $9.7 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.6 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $100 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $100 million over the term of the 6.75% $100 million convertible debentures using an effective interest rate of 10.7%. If the 6.75% $100 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $100 million convertible debentures have been converted or redeemed as at June 30, 2020.
[5]	On October 5, 2016, Just Energy issued $160 million of convertible unsecured senior subordinated debentures (the "6.75% $160 million convertible debentures"). The 6.75% $160 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on June 30 and December 31 in each year and have a maturity date of December 31, 2021. Each $1,000 principal amount of the 6.75% $160 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 107.5269 common shares of Just Energy, representing a conversion price of $9.30, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The 6.75% $160 million convertible debentures will not be redeemable at the option of the Company on or before December 31, 2019. After December 31, 2019 and prior to December 31, 2020, the 6.75% $160 million convertible debentures may be redeemed in whole or in part from time to time at the option of the Company on not more than 60 days' and not less than 30 days' prior notice, at a price equal to their principal amount plus accrued and unpaid interest, provided that the weighted average trading price of the common shares of Just Energy on the TSX for the 20 consecutive trading days ending five trading days preceding the date on which the notice of redemption is given is at least 125% of the conversion price. The conversion feature of the 6.75% $160 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $8.0 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.1 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $160 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $160 million over the term of the 6.75% $160 million convertible debentures using an effective interest rate of 9.1%. If the 6.75% $160 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $160 million convertible debentures have been converted or redeemed as at June 30, 2020.
[6]	On January 29, 2014, Just Energy issued US$150 million of European-focused senior convertible unsecured convertible bonds (the "6.5% convertible bonds"). The 6.5% convertible bonds bear interest at an annual rate of 6.5%, payable semi-annually in arrears in equal installments on January 29 and July 29 in each year and have a maturity date of December 31, 2020. A conversion right in respect of a bond could have been exercised, at the option of the holder thereof, at any time from May 30, 2014 to July 7, 2019, and was not. The initial conversion price is US$9.3762 per common share (being C$10.2819) but is subject to adjustments. In the event of the exercise of a conversion right, the Company may, at its option, subject to applicable regulatory approval and provided no event of default has occurred and is continuing, elect to satisfy its obligation in cash equal to the market value of the underlying shares to be received. As a result of the debt being denominated in a different functional currency than that of Just Energy, the conversion feature is recorded as a financial liability instead of a component of equity. Therefore, the conversion feature of the 6.5% convertible bonds has been accounted for as a separate financial liability with an initial value of US$8.5 million. The remainder of the net proceeds of the 6.5% convertible bonds has been recorded as long-term debt, which is being accreted up to the face value of $150.0 million over the term of the 6.5% convertible bonds using an effective interest rate of 8.8%. At each reporting period, the conversion feature is recorded at fair value with changes in fair value recorded through profit or loss. On July 29, 2019, the Company redeemed US$13.2 million of the 6.5% convertible bonds. The remaining lenders of $9.2 million of the 6.5% convertible bonds elected to extend the maturity date of the bonds from July 29, 2019 to December 31, 2020, pursuant to an option offered by the Company announced on July 17, 2019.

Note 9 - Long-term Debt and F_5

Note 9 - Long-term Debt and Financing - Components of Long-term Debt (Details) (Parentheticals) $ in Millions	Jul. 08, 2020	Jun. 30, 2020CAD ($)		Mar. 31, 2020CAD ($)		Dec. 02, 2019	Sep. 12, 2018USD ($)	Apr. 18, 2018USD ($)	Feb. 22, 2018CAD ($)	Oct. 05, 2016CAD ($)
Senior unsecured 8.75% term loan [member]
Statement Line Items [Line Items]
Interest rate	8.75%	8.75%	[1]	8.75%	[1]	8.75%	8.75%
Face amount							$ 250	$ 250
The $100 million 6.75% of convertible unsecured senior subordinated debentures [member]
Statement Line Items [Line Items]
Interest rate		6.75%	[2]	6.75%	[2]				6.75%
Face amount		$ 100,000,000	[2]	$ 100,000,000	[2]				$ 100,000,000
Senior subordinated 6.75% convertible debentures [member]
Statement Line Items [Line Items]
Interest rate		6.75%	[3]	6.75%	[3]					6.75%
Face amount		$ 160,000,000	[3]	$ 160,000,000	[3]					$ 160,000,000
[1]	On September 12, 2018, Just Energy entered into a US$250 million non-revolving multi-draw senior unsecured term loan facility (the "8.75% loan") with Sagard Credit Partners, LP and certain funds managed by a leading U.S.-based global fixed income asset manager. The 8.75% loan bears interest at 8.75% per annum payable semi-annually in arrears on June 30 and December 31 in each year plus fees and will mature on September 12, 2023. Counterparties were issued 7.5 million warrants at a strike price of $8.56 each, convertible to one Just Energy common stock. The value of these warrants has been assessed as nominal. The 8.75% loan has three tranches. The first tranche of US$50 million is earmarked for general corporate purposes, including to pay down Just Energy's credit facility. The second tranche of US$150 million is earmarked towards the settlement of Just Energy's 6.5% convertible bonds. The third tranche of US$50 million is earmarked for investments and future acquisitions. As of June 30, 2020, US$207.0 million was drawn from the 8.75% loan. In July 2019, the Company drew US$14 million on the debt which was secured by a personal guarantee from a director of the Company. At June 30, 2020 the Company has US$43.0 million available under the facility to draw, earmarked for investments and future acquisitions. The Company has amended the covenants on its senior unsecured term loan facility to increase the senior debt to EBITDA covenant ratio from 1.65:1 to 2.30:1 and the total debt to EBITDA covenant from 3.50:1 to 4.25:1 for the first quarter of fiscal 2021. As at June 30, 2020 the Company was compliant with all of these covenants. The Recapitalization announced by the Company on July 8, 2020 includes an extension of the senior unsecured loan facility for the US$205.9 million to March 2024, with a portion of interest to be paid in-kind.
[2]	On February 22, 2018, Just Energy issued $100 million of convertible unsecured senior subordinated debentures (the "6.75% $100 million convertible debentures"). The 6.75% $100 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on March 31 and September 30 in each year and have a maturity date of March 31, 2023. Each $1,000 principal amount of the 6.75% $100 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 112.3596 common shares of Just Energy, representing a conversion price of $8.90, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The conversion feature of the 6.75% $100 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $9.7 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.6 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $100 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $100 million over the term of the 6.75% $100 million convertible debentures using an effective interest rate of 10.7%. If the 6.75% $100 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $100 million convertible debentures have been converted or redeemed as at June 30, 2020.
[3]	On October 5, 2016, Just Energy issued $160 million of convertible unsecured senior subordinated debentures (the "6.75% $160 million convertible debentures"). The 6.75% $160 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on June 30 and December 31 in each year and have a maturity date of December 31, 2021. Each $1,000 principal amount of the 6.75% $160 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 107.5269 common shares of Just Energy, representing a conversion price of $9.30, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The 6.75% $160 million convertible debentures will not be redeemable at the option of the Company on or before December 31, 2019. After December 31, 2019 and prior to December 31, 2020, the 6.75% $160 million convertible debentures may be redeemed in whole or in part from time to time at the option of the Company on not more than 60 days' and not less than 30 days' prior notice, at a price equal to their principal amount plus accrued and unpaid interest, provided that the weighted average trading price of the common shares of Just Energy on the TSX for the 20 consecutive trading days ending five trading days preceding the date on which the notice of redemption is given is at least 125% of the conversion price. The conversion feature of the 6.75% $160 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $8.0 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.1 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $160 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $160 million over the term of the 6.75% $160 million convertible debentures using an effective interest rate of 9.1%. If the 6.75% $160 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $160 million convertible debentures have been converted or redeemed as at June 30, 2020.

Note 9 - Long-term Debt and F_6

Note 9 - Long-term Debt and Financing - Future Annual Minimum Repayments (Details) $ in Thousands	Jun. 30, 2020CAD ($)
Not later than one year [member]
Statement Line Items [Line Items]
Future annual minimum repayments	$ 263,592
Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	263,105
Later than four years and not later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	296,205
Later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	822,902
Credit facility [member] | Not later than one year [member]
Statement Line Items [Line Items]
Future annual minimum repayments	246,256	[1]
Credit facility [member] | Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Future annual minimum repayments		[1]
Credit facility [member] | Later than four years and not later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments		[1]
Credit facility [member] | Later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	246,256	[1]
Filter Group financing [Member] | Not later than one year [member]
Statement Line Items [Line Items]
Future annual minimum repayments	4,933	[2]
Filter Group financing [Member] | Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	3,105	[2]
Filter Group financing [Member] | Later than four years and not later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments		[2]
Filter Group financing [Member] | Later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	8,038	[2]
Senior unsecured 8.75% term loan [member] | Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Future annual minimum repayments		[3]
Senior unsecured 8.75% term loan [member] | Later than four years and not later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	296,205	[3]
Senior unsecured 8.75% term loan [member] | Later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	296,205	[3]
The $100 million 6.75% of convertible unsecured senior subordinated debentures [member] | Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	100,000	[4]
The $100 million 6.75% of convertible unsecured senior subordinated debentures [member] | Later than four years and not later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments		[4]
The $100 million 6.75% of convertible unsecured senior subordinated debentures [member] | Later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	100,000	[4]
Senior subordinated 6.75% convertible debentures [member] | Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	160,000	[5]
Senior subordinated 6.75% convertible debentures [member] | Later than four years and not later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments		[5]
Senior subordinated 6.75% convertible debentures [member] | Later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	160,000	[5]
European-focused senior convertible unsecured 6.5% convertible bonds [member] | Not later than one year [member]
Statement Line Items [Line Items]
Future annual minimum repayments	12,403	[6]
European-focused senior convertible unsecured 6.5% convertible bonds [member] | Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Future annual minimum repayments		[6]
European-focused senior convertible unsecured 6.5% convertible bonds [member] | Later than four years and not later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments		[6]
European-focused senior convertible unsecured 6.5% convertible bonds [member] | Later than five years [member]
Statement Line Items [Line Items]
Future annual minimum repayments	$ 12,403	[6]
[1]	In April 2018 the credit facility size was increased to $352.5 million from $342.5 million, with an accordion for Just Energy to draw up to $370 million. On June 28, 2019, the Company exercised its option to access the amounts relating to the accordion agreement as part of the credit facility. Certain principal amount outstanding under the letter of credit facility is guaranteed by Export Development Canada under its Account Performance Security Guarantee Program. The Company amended its senior secured credit facility to increase the senior debt to EBITDA covenant ratio from 1.50:1 to 2.00:1 and the total debt to EBITDA covenant from 3.50:1 to 4.00:1 for the first quarter of fiscal 2021. As at June 30, 2020, the Company was compliant with all of these covenants. On July 8, 2020, the Company announced a comprehensive Recapitalization that is expected to be implemented in September 2020 and amended the maturity date of the existing credit facility from September 1, 2020 to December 1, 2020. The Recapitalization includes a $335 million extension of the credit facility for three years to December 2023. Interest is payable on outstanding loans at rates that vary with Bankers' Acceptance rates, LIBOR, Canadian bank prime rate or U.S. prime rate. Under the terms of the operating credit facility, Just Energy is able to make use of Bankers' Acceptances and LIBOR advances at stamping fees of 3.750%. Prime rate advances are at a rate of bank prime (Canadian bank prime rate or U.S. prime rate) plus 2.750% and letters of credit are at a rate of 3.750%. Interest rates are adjusted quarterly based on certain financial performance indicators. As at June 30, 2020, the Canadian prime rate was 2.45% and the U.S. prime rate was 3.25%. As at June 30, 2020, $246.3 million has been drawn against the facility and total letters of credit outstanding as of June 30, 2020, amounted to $63.2 million (March 31, 2020 - $72.5 million). As at June 30, 2020, Just Energy has $60.5 million of the facility remaining for future working capital and/or security requirements. Just Energy's obligations under the credit facility is supported by guarantees of certain subsidiaries and affiliates and secured by a general security agreement and a pledge of the assets and securities of Just Energy and the majority of its operating subsidiaries and affiliates excluding, primarily, the Barbados and German operations.
[2]	Filter Group has an outstanding loan payable to Home Trust Company ("HTC"). The loan is a result of factoring receivables to finance the cost of rental equipment over a period of three to five years with HTC and bears interest at 8.99% per annum. Principal and interest are repayable monthly.
[3]	On September 12, 2018, Just Energy entered into a US$250 million non-revolving multi-draw senior unsecured term loan facility (the "8.75% loan") with Sagard Credit Partners, LP and certain funds managed by a leading U.S.-based global fixed income asset manager. The 8.75% loan bears interest at 8.75% per annum payable semi-annually in arrears on June 30 and December 31 in each year plus fees and will mature on September 12, 2023. Counterparties were issued 7.5 million warrants at a strike price of $8.56 each, convertible to one Just Energy common stock. The value of these warrants has been assessed as nominal. The 8.75% loan has three tranches. The first tranche of US$50 million is earmarked for general corporate purposes, including to pay down Just Energy's credit facility. The second tranche of US$150 million is earmarked towards the settlement of Just Energy's 6.5% convertible bonds. The third tranche of US$50 million is earmarked for investments and future acquisitions. As of June 30, 2020, US$207.0 million was drawn from the 8.75% loan. In July 2019, the Company drew US$14 million on the debt which was secured by a personal guarantee from a director of the Company. At June 30, 2020 the Company has US$43.0 million available under the facility to draw, earmarked for investments and future acquisitions. The Company has amended the covenants on its senior unsecured term loan facility to increase the senior debt to EBITDA covenant ratio from 1.65:1 to 2.30:1 and the total debt to EBITDA covenant from 3.50:1 to 4.25:1 for the first quarter of fiscal 2021. As at June 30, 2020 the Company was compliant with all of these covenants. The Recapitalization announced by the Company on July 8, 2020 includes an extension of the senior unsecured loan facility for the US$205.9 million to March 2024, with a portion of interest to be paid in-kind.
[4]	On February 22, 2018, Just Energy issued $100 million of convertible unsecured senior subordinated debentures (the "6.75% $100 million convertible debentures"). The 6.75% $100 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on March 31 and September 30 in each year and have a maturity date of March 31, 2023. Each $1,000 principal amount of the 6.75% $100 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 112.3596 common shares of Just Energy, representing a conversion price of $8.90, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The conversion feature of the 6.75% $100 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $9.7 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.6 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $100 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $100 million over the term of the 6.75% $100 million convertible debentures using an effective interest rate of 10.7%. If the 6.75% $100 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $100 million convertible debentures have been converted or redeemed as at June 30, 2020.
[5]	On October 5, 2016, Just Energy issued $160 million of convertible unsecured senior subordinated debentures (the "6.75% $160 million convertible debentures"). The 6.75% $160 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on June 30 and December 31 in each year and have a maturity date of December 31, 2021. Each $1,000 principal amount of the 6.75% $160 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 107.5269 common shares of Just Energy, representing a conversion price of $9.30, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The 6.75% $160 million convertible debentures will not be redeemable at the option of the Company on or before December 31, 2019. After December 31, 2019 and prior to December 31, 2020, the 6.75% $160 million convertible debentures may be redeemed in whole or in part from time to time at the option of the Company on not more than 60 days' and not less than 30 days' prior notice, at a price equal to their principal amount plus accrued and unpaid interest, provided that the weighted average trading price of the common shares of Just Energy on the TSX for the 20 consecutive trading days ending five trading days preceding the date on which the notice of redemption is given is at least 125% of the conversion price. The conversion feature of the 6.75% $160 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $8.0 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.1 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $160 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $160 million over the term of the 6.75% $160 million convertible debentures using an effective interest rate of 9.1%. If the 6.75% $160 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $160 million convertible debentures have been converted or redeemed as at June 30, 2020.
[6]	On January 29, 2014, Just Energy issued US$150 million of European-focused senior convertible unsecured convertible bonds (the "6.5% convertible bonds"). The 6.5% convertible bonds bear interest at an annual rate of 6.5%, payable semi-annually in arrears in equal installments on January 29 and July 29 in each year and have a maturity date of December 31, 2020. A conversion right in respect of a bond could have been exercised, at the option of the holder thereof, at any time from May 30, 2014 to July 7, 2019, and was not. The initial conversion price is US$9.3762 per common share (being C$10.2819) but is subject to adjustments. In the event of the exercise of a conversion right, the Company may, at its option, subject to applicable regulatory approval and provided no event of default has occurred and is continuing, elect to satisfy its obligation in cash equal to the market value of the underlying shares to be received. As a result of the debt being denominated in a different functional currency than that of Just Energy, the conversion feature is recorded as a financial liability instead of a component of equity. Therefore, the conversion feature of the 6.5% convertible bonds has been accounted for as a separate financial liability with an initial value of US$8.5 million. The remainder of the net proceeds of the 6.5% convertible bonds has been recorded as long-term debt, which is being accreted up to the face value of $150.0 million over the term of the 6.5% convertible bonds using an effective interest rate of 8.8%. At each reporting period, the conversion feature is recorded at fair value with changes in fair value recorded through profit or loss. On July 29, 2019, the Company redeemed US$13.2 million of the 6.5% convertible bonds. The remaining lenders of $9.2 million of the 6.5% convertible bonds elected to extend the maturity date of the bonds from July 29, 2019 to December 31, 2020, pursuant to an option offered by the Company announced on July 17, 2019.

Note 9 - Long-term Debt and F_7

Note 9 - Long-term Debt and Financing - Finance costs (Details) - CAD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
Finance costs		$ 21,853	$ 23,546
Credit facility [member]
Statement Line Items [Line Items]
Finance costs	[1]	5,135	6,052
Filter Group financing [Member]
Statement Line Items [Line Items]
Finance costs	[2]	206	384
Senior unsecured 8.75% term loan [member]
Statement Line Items [Line Items]
Finance costs	[3]	9,264	7,337
The $100 million 6.75% of convertible unsecured senior subordinated debentures [member]
Statement Line Items [Line Items]
Finance costs	[4]	2,408	2,337
Senior subordinated 6.75% convertible debentures [member]
Statement Line Items [Line Items]
Finance costs	[5]	3,496	3,430
European-focused senior convertible unsecured 6.5% convertible bonds [member]
Statement Line Items [Line Items]
Finance costs	[6]	275	804
Supplier finance and others [member]
Statement Line Items [Line Items]
Finance costs	[7]	$ 1,069	$ 3,202
[1]	In April 2018 the credit facility size was increased to $352.5 million from $342.5 million, with an accordion for Just Energy to draw up to $370 million. On June 28, 2019, the Company exercised its option to access the amounts relating to the accordion agreement as part of the credit facility. Certain principal amount outstanding under the letter of credit facility is guaranteed by Export Development Canada under its Account Performance Security Guarantee Program. The Company amended its senior secured credit facility to increase the senior debt to EBITDA covenant ratio from 1.50:1 to 2.00:1 and the total debt to EBITDA covenant from 3.50:1 to 4.00:1 for the first quarter of fiscal 2021. As at June 30, 2020, the Company was compliant with all of these covenants. On July 8, 2020, the Company announced a comprehensive Recapitalization that is expected to be implemented in September 2020 and amended the maturity date of the existing credit facility from September 1, 2020 to December 1, 2020. The Recapitalization includes a $335 million extension of the credit facility for three years to December 2023. Interest is payable on outstanding loans at rates that vary with Bankers' Acceptance rates, LIBOR, Canadian bank prime rate or U.S. prime rate. Under the terms of the operating credit facility, Just Energy is able to make use of Bankers' Acceptances and LIBOR advances at stamping fees of 3.750%. Prime rate advances are at a rate of bank prime (Canadian bank prime rate or U.S. prime rate) plus 2.750% and letters of credit are at a rate of 3.750%. Interest rates are adjusted quarterly based on certain financial performance indicators. As at June 30, 2020, the Canadian prime rate was 2.45% and the U.S. prime rate was 3.25%. As at June 30, 2020, $246.3 million has been drawn against the facility and total letters of credit outstanding as of June 30, 2020, amounted to $63.2 million (March 31, 2020 - $72.5 million). As at June 30, 2020, Just Energy has $60.5 million of the facility remaining for future working capital and/or security requirements. Just Energy's obligations under the credit facility is supported by guarantees of certain subsidiaries and affiliates and secured by a general security agreement and a pledge of the assets and securities of Just Energy and the majority of its operating subsidiaries and affiliates excluding, primarily, the Barbados and German operations.
[2]	Filter Group has an outstanding loan payable to Home Trust Company ("HTC"). The loan is a result of factoring receivables to finance the cost of rental equipment over a period of three to five years with HTC and bears interest at 8.99% per annum. Principal and interest are repayable monthly.
[3]	On September 12, 2018, Just Energy entered into a US$250 million non-revolving multi-draw senior unsecured term loan facility (the "8.75% loan") with Sagard Credit Partners, LP and certain funds managed by a leading U.S.-based global fixed income asset manager. The 8.75% loan bears interest at 8.75% per annum payable semi-annually in arrears on June 30 and December 31 in each year plus fees and will mature on September 12, 2023. Counterparties were issued 7.5 million warrants at a strike price of $8.56 each, convertible to one Just Energy common stock. The value of these warrants has been assessed as nominal. The 8.75% loan has three tranches. The first tranche of US$50 million is earmarked for general corporate purposes, including to pay down Just Energy's credit facility. The second tranche of US$150 million is earmarked towards the settlement of Just Energy's 6.5% convertible bonds. The third tranche of US$50 million is earmarked for investments and future acquisitions. As of June 30, 2020, US$207.0 million was drawn from the 8.75% loan. In July 2019, the Company drew US$14 million on the debt which was secured by a personal guarantee from a director of the Company. At June 30, 2020 the Company has US$43.0 million available under the facility to draw, earmarked for investments and future acquisitions. The Company has amended the covenants on its senior unsecured term loan facility to increase the senior debt to EBITDA covenant ratio from 1.65:1 to 2.30:1 and the total debt to EBITDA covenant from 3.50:1 to 4.25:1 for the first quarter of fiscal 2021. As at June 30, 2020 the Company was compliant with all of these covenants. The Recapitalization announced by the Company on July 8, 2020 includes an extension of the senior unsecured loan facility for the US$205.9 million to March 2024, with a portion of interest to be paid in-kind.
[4]	On February 22, 2018, Just Energy issued $100 million of convertible unsecured senior subordinated debentures (the "6.75% $100 million convertible debentures"). The 6.75% $100 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on March 31 and September 30 in each year and have a maturity date of March 31, 2023. Each $1,000 principal amount of the 6.75% $100 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 112.3596 common shares of Just Energy, representing a conversion price of $8.90, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The conversion feature of the 6.75% $100 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $9.7 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.6 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $100 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $100 million over the term of the 6.75% $100 million convertible debentures using an effective interest rate of 10.7%. If the 6.75% $100 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $100 million convertible debentures have been converted or redeemed as at June 30, 2020.
[5]	On October 5, 2016, Just Energy issued $160 million of convertible unsecured senior subordinated debentures (the "6.75% $160 million convertible debentures"). The 6.75% $160 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on June 30 and December 31 in each year and have a maturity date of December 31, 2021. Each $1,000 principal amount of the 6.75% $160 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 107.5269 common shares of Just Energy, representing a conversion price of $9.30, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The 6.75% $160 million convertible debentures will not be redeemable at the option of the Company on or before December 31, 2019. After December 31, 2019 and prior to December 31, 2020, the 6.75% $160 million convertible debentures may be redeemed in whole or in part from time to time at the option of the Company on not more than 60 days' and not less than 30 days' prior notice, at a price equal to their principal amount plus accrued and unpaid interest, provided that the weighted average trading price of the common shares of Just Energy on the TSX for the 20 consecutive trading days ending five trading days preceding the date on which the notice of redemption is given is at least 125% of the conversion price. The conversion feature of the 6.75% $160 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $8.0 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.1 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $160 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $160 million over the term of the 6.75% $160 million convertible debentures using an effective interest rate of 9.1%. If the 6.75% $160 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $160 million convertible debentures have been converted or redeemed as at June 30, 2020.
[6]	On January 29, 2014, Just Energy issued US$150 million of European-focused senior convertible unsecured convertible bonds (the "6.5% convertible bonds"). The 6.5% convertible bonds bear interest at an annual rate of 6.5%, payable semi-annually in arrears in equal installments on January 29 and July 29 in each year and have a maturity date of December 31, 2020. A conversion right in respect of a bond could have been exercised, at the option of the holder thereof, at any time from May 30, 2014 to July 7, 2019, and was not. The initial conversion price is US$9.3762 per common share (being C$10.2819) but is subject to adjustments. In the event of the exercise of a conversion right, the Company may, at its option, subject to applicable regulatory approval and provided no event of default has occurred and is continuing, elect to satisfy its obligation in cash equal to the market value of the underlying shares to be received. As a result of the debt being denominated in a different functional currency than that of Just Energy, the conversion feature is recorded as a financial liability instead of a component of equity. Therefore, the conversion feature of the 6.5% convertible bonds has been accounted for as a separate financial liability with an initial value of US$8.5 million. The remainder of the net proceeds of the 6.5% convertible bonds has been recorded as long-term debt, which is being accreted up to the face value of $150.0 million over the term of the 6.5% convertible bonds using an effective interest rate of 8.8%. At each reporting period, the conversion feature is recorded at fair value with changes in fair value recorded through profit or loss. On July 29, 2019, the Company redeemed US$13.2 million of the 6.5% convertible bonds. The remaining lenders of $9.2 million of the 6.5% convertible bonds elected to extend the maturity date of the bonds from July 29, 2019 to December 31, 2020, pursuant to an option offered by the Company announced on July 17, 2019.
[7]	Supplier finance and other costs for the quarter ended June 30, 2020 primarily consists of charges for extended payment terms.

Note 10 - Reportable Business_3

Note 10 - Reportable Business Segments (Details Textual)	3 Months Ended
	Jun. 30, 2020
Electricity contracts [member]
Statement Line Items [Line Items]
Percentage of entity's revenue	89.00%
Gas contracts [member]
Statement Line Items [Line Items]
Percentage of entity's revenue	11.00%

Note 10 - Reportable Business_4

Note 10 - Reportable Business Segments - Components of Segments (Details) - CAD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
Sales	$ 593,134	$ 670,165
Cost of goods sold	323,997	457,941
Gross margin	269,137	212,224
Depreciation of property and equipment	2,687	2,988
Amortization of intangible assets	4,592	8,372
Administrative expenses	39,953	40,803
Selling and marketing expenses	46,959	61,704
Other operating expenses	12,632	24,405
Segment profit (loss) for the period	162,314	73,952
Finance costs	(21,853)	(23,546)
Unrealized gain of derivative instruments and other	77,349	(241,999)
Realized loss of derivative instruments	(134,446)	(79,932)
Other income, net	(632)	(740)
Provision for income taxes	(634)	2,294
Profit for the period from continuing operations	82,098	(269,971)
Loss from discontinued operations	(2,948)	(5,189)
Profit for the period	79,150	(275,160)
Capital expenditures	1,686	9,919
Total goodwill	269,602	337,396
Total assets	1,111,967	1,536,815
Total liabilities	1,522,663	1,918,037
Recovery of income taxes	(634)	2,294
Loss for the period from continuing operations	82,098	(269,971)
Consumer division [member]
Statement Line Items [Line Items]
Sales	371,796	409,998
Cost of goods sold	185,441	259,260
Gross margin	186,355	150,738
Depreciation of property and equipment	2,661	2,950
Amortization of intangible assets	3,704	7,680
Administrative expenses	8,461	11,234
Selling and marketing expenses	27,556	41,798
Other operating expenses	9,115	22,969
Segment profit (loss) for the period	134,858	64,107
Finance costs
Unrealized gain of derivative instruments and other
Realized loss of derivative instruments
Other income, net
Provision for income taxes
Profit for the period from continuing operations
Loss from discontinued operations
Profit for the period
Capital expenditures	1,521	9,170
Total goodwill	170,854	172,072
Total assets	859,268	1,117,435
Total liabilities	1,383,132	1,713,787
Recovery of income taxes
Loss for the period from continuing operations
Commercial division [member]
Statement Line Items [Line Items]
Sales	221,338	260,167
Cost of goods sold	138,556	198,681
Gross margin	82,782	61,486
Depreciation of property and equipment	26	38
Amortization of intangible assets	888	692
Administrative expenses	5,835	6,152
Selling and marketing expenses	19,403	19,906
Other operating expenses	3,517	1,436
Segment profit (loss) for the period	53,113	33,262
Finance costs
Unrealized gain of derivative instruments and other
Realized loss of derivative instruments
Other income, net
Provision for income taxes
Profit for the period from continuing operations
Loss from discontinued operations
Profit for the period
Capital expenditures	165	749
Total goodwill	98,748	165,324
Total assets	252,699	419,380
Total liabilities	139,531	204,250
Recovery of income taxes
Loss for the period from continuing operations
Corporate [member]
Statement Line Items [Line Items]
Sales
Cost of goods sold
Gross margin
Depreciation of property and equipment
Amortization of intangible assets
Administrative expenses	25,657	23,417
Selling and marketing expenses
Other operating expenses
Segment profit (loss) for the period	(25,657)	(23,417)
Finance costs
Unrealized gain of derivative instruments and other
Realized loss of derivative instruments
Other income, net
Provision for income taxes
Profit for the period from continuing operations
Loss from discontinued operations
Profit for the period
Capital expenditures
Total goodwill
Total assets
Total liabilities
Recovery of income taxes
Loss for the period from continuing operations

Note 10 - Reportable Business_5

Note 10 - Reportable Business Segments - Geographical Disclosure (Details) - CAD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
Sales	$ 593,134	$ 670,165
Non-current assets	386,292	399,752
CANADA
Statement Line Items [Line Items]
Sales	58,147	75,485
Non-current assets	232,219	233,678
UNITED STATES
Statement Line Items [Line Items]
Sales	534,987	594,680
Non-current assets	$ 154,073	$ 166,074

Note 11 - Income Taxes - Compon

Note 11 - Income Taxes - Components of Tax Expenses (Details) - CAD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
Current income tax expense	$ 873	$ 462
Deferred income tax recovery	(239)	(2,756)
Provision for (recovery of) income taxes	$ 634	$ (2,294)

Note 12 - Shareholders' Capit_3

Note 12 - Shareholders' Capital (Details Textual) - CAD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020		Jun. 30, 2019	Jul. 08, 2020	Mar. 31, 2020	[1]	Dec. 02, 2019	Sep. 12, 2018
Statement Line Items [Line Items]
Par value per share (in CAD per share)	$ 0
Senior unsecured 8.75% term loan [member]
Statement Line Items [Line Items]
Borrowings, interest rate	8.75%	[1]		8.75%	8.75%		8.75%	8.75%
Senior unsecured 8.75% term loan [member] | Top of range [member]
Statement Line Items [Line Items]
Borrowings, senior debit to EBITDA covenant ratio							1.5
Preference shares [member]
Statement Line Items [Line Items]
Number of shares authorised (in shares)	50,000,000
Number of shares issued and fully paid (in shares)	0
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners per share (in CAD per share)			$ 0.53125
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners			$ 3,333
Ordinary shares [member]
Statement Line Items [Line Items]
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners per share (in CAD per share)			$ 0.125
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners			$ 18,714
Dividends recognised as distributions to owners of parent	$ 23		$ 23
[1]	On September 12, 2018, Just Energy entered into a US$250 million non-revolving multi-draw senior unsecured term loan facility (the "8.75% loan") with Sagard Credit Partners, LP and certain funds managed by a leading U.S.-based global fixed income asset manager. The 8.75% loan bears interest at 8.75% per annum payable semi-annually in arrears on June 30 and December 31 in each year plus fees and will mature on September 12, 2023. Counterparties were issued 7.5 million warrants at a strike price of $8.56 each, convertible to one Just Energy common stock. The value of these warrants has been assessed as nominal. The 8.75% loan has three tranches. The first tranche of US$50 million is earmarked for general corporate purposes, including to pay down Just Energy's credit facility. The second tranche of US$150 million is earmarked towards the settlement of Just Energy's 6.5% convertible bonds. The third tranche of US$50 million is earmarked for investments and future acquisitions. As of June 30, 2020, US$207.0 million was drawn from the 8.75% loan. In July 2019, the Company drew US$14 million on the debt which was secured by a personal guarantee from a director of the Company. At June 30, 2020 the Company has US$43.0 million available under the facility to draw, earmarked for investments and future acquisitions. The Company has amended the covenants on its senior unsecured term loan facility to increase the senior debt to EBITDA covenant ratio from 1.65:1 to 2.30:1 and the total debt to EBITDA covenant from 3.50:1 to 4.25:1 for the first quarter of fiscal 2021. As at June 30, 2020 the Company was compliant with all of these covenants. The Recapitalization announced by the Company on July 8, 2020 includes an extension of the senior unsecured loan facility for the US$205.9 million to March 2024, with a portion of interest to be paid in-kind.

Note 12 - Shareholders' Capit_4

Note 12 - Shareholders' Capital - Classes of Share Capital (Details) - CAD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Statement Line Items [Line Items]
Balance, beginning of period	$ (495,288)
Balance, end of period	$ (413,040)	$ (381,222)	$ (495,288)
Issued capital [member]
Statement Line Items [Line Items]
Balance, beginning of period (in shares)	156,276,403
Balance, beginning of period	$ 1,246,829
Balance, end of period (in shares)	156,302,739		156,276,403
Balance, end of period	$ 1,246,991	$ 1,242,463	$ 1,246,829
Ordinary shares [member] | Issued capital [member]
Statement Line Items [Line Items]
Balance, beginning of period (in shares)	151,614,238	149,595,952	149,595,952
Balance, beginning of period	$ 1,099,864	$ 1,088,538	$ 1,088,538
Share-based awards exercised (in shares)	26,336		2,018,286
Share-based units exercised	$ 162	6,960	$ 11,326
Balance, end of period (in shares)	151,640,574		151,614,238
Balance, end of period	$ 1,100,026	$ 1,095,498	$ 1,099,864
Preference shares [member] | Issued capital [member]
Statement Line Items [Line Items]
Balance, beginning of period (in shares)	4,662,165	4,662,165	4,662,165
Balance, beginning of period	$ 146,965	$ 146,965	$ 146,965
Balance, end of period (in shares)	4,662,165		4,662,165
Balance, end of period	$ 146,965	$ 146,965	$ 146,965

Note 13 - Other Expenses (Detai

Note 13 - Other Expenses (Details Textual) - CAD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
Employee expense, included in adminstrative expenses	$ 15.2	$ 23.4
Employee expense included in selling and marketing expneses	$ 27.5	$ 45.6

Note 13 - Other Expenses - Othe

Note 13 - Other Expenses - Other Operating Expenses (Details) - CAD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
Amortization of intangible assets	$ 4,592	$ 8,372
Depreciation of property and equipment	2,687	2,988
Bad debt expense	11,940	17,287
Share-based compensation	692	7,118
Other expense	$ 19,911	$ 35,765

Note 13 - Other Expenses - Empl

Note 13 - Other Expenses - Employee Benefits Expense (Details) - CAD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Line Items [Line Items]
Wages, salaries and commissions	$ 36,219	$ 61,757
Benefits	6,488	7,270
Employee benefits expense	$ 42,707	$ 69,027

Note 14 - Profit (Loss) Per S_3

Note 14 - Profit (Loss) Per Share (Details Textual) $ in Millions	Jun. 30, 2020CAD ($)		Mar. 31, 2020CAD ($)		Feb. 22, 2018CAD ($)	Oct. 05, 2016CAD ($)	Jan. 29, 2014USD ($)
European-focused senior convertible unsecured 6.5% convertible bonds [member]
Statement Line Items [Line Items]
Borrowings, interest rate	6.50%						6.50%
Notional amount							$ 150
Senior subordinated 6.75% convertible debentures [member]
Statement Line Items [Line Items]
Borrowings, interest rate	6.75%	[1]	6.75%	[1]		6.75%
Notional amount	$ 160,000,000	[1]	$ 160,000,000	[1]		$ 160,000,000
The $100 million 6.75% of convertible unsecured senior subordinated debentures [member]
Statement Line Items [Line Items]
Borrowings, interest rate	6.75%	[2]	6.75%	[2]	6.75%
Notional amount	$ 100,000,000	[2]	$ 100,000,000	[2]	$ 100,000,000
[1]	On October 5, 2016, Just Energy issued $160 million of convertible unsecured senior subordinated debentures (the "6.75% $160 million convertible debentures"). The 6.75% $160 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on June 30 and December 31 in each year and have a maturity date of December 31, 2021. Each $1,000 principal amount of the 6.75% $160 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 107.5269 common shares of Just Energy, representing a conversion price of $9.30, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The 6.75% $160 million convertible debentures will not be redeemable at the option of the Company on or before December 31, 2019. After December 31, 2019 and prior to December 31, 2020, the 6.75% $160 million convertible debentures may be redeemed in whole or in part from time to time at the option of the Company on not more than 60 days' and not less than 30 days' prior notice, at a price equal to their principal amount plus accrued and unpaid interest, provided that the weighted average trading price of the common shares of Just Energy on the TSX for the 20 consecutive trading days ending five trading days preceding the date on which the notice of redemption is given is at least 125% of the conversion price. The conversion feature of the 6.75% $160 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $8.0 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.1 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $160 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $160 million over the term of the 6.75% $160 million convertible debentures using an effective interest rate of 9.1%. If the 6.75% $160 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $160 million convertible debentures have been converted or redeemed as at June 30, 2020.
[2]	On February 22, 2018, Just Energy issued $100 million of convertible unsecured senior subordinated debentures (the "6.75% $100 million convertible debentures"). The 6.75% $100 million convertible debentures bear interest at an annual rate of 6.75%, payable semi-annually in arrears on March 31 and September 30 in each year and have a maturity date of March 31, 2023. Each $1,000 principal amount of the 6.75% $100 million convertible debentures is convertible at the option of the holder at any time prior to the close of business on the earlier of the maturity date and the last business day immediately preceding the date fixed for redemption into 112.3596 common shares of Just Energy, representing a conversion price of $8.90, subject to certain anti-dilution provisions. Holders who convert their debentures will receive accrued and unpaid interest for the period from and including the date of the latest interest payment up to, but excluding, the date of conversion. The conversion feature of the 6.75% $100 million convertible debentures has been accounted for as a separate component of shareholders' deficit in the amount of $9.7 million. Upon initial recognition of the convertible debentures, Just Energy recorded a deferred income tax liability of $2.6 million and reduced the equity component of the convertible debentures by this amount. The remainder of the net proceeds of the 6.75% $100 million convertible debentures has been recorded as long-term debt, which is being accreted up to the face value of $100 million over the term of the 6.75% $100 million convertible debentures using an effective interest rate of 10.7%. If the 6.75% $100 million convertible debentures are converted into common shares, the value of the conversion will be reclassified to share capital along with the principal amount converted. No amounts of the 6.75% $100 million convertible debentures have been converted or redeemed as at June 30, 2020.

Note 14 - Profit (Loss) Per S_4

Note 14 - Profit (Loss) Per Share - Components of Earning Per Share (Details) - CAD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020		Jun. 30, 2019
Statement Line Items [Line Items]
Profit (loss) from continuing operations available to shareholders	$ 82,098		$ (269,971)
Dividend to preferred shareholders, net of tax	3,319		2,450
Earnings (loss) from continuing operations available to shareholders, net of tax	$ 78,779		$ (272,421)
Basic weighted average shares outstanding (in shares)	151,622,538		149,846,539
Basic earnings (loss) per share from continuing operations available to shareholders (in CAD per share)	$ 0.52		$ (1.82)
Basic earnings (loss) per share available to shareholders (in CAD per share)	$ 0.50		$ (1.85)
Profit (loss) from continuing operations available to shareholders	$ 78,779		$ (272,421)
Increase (decrease) through conversion of convertible instruments, equity	4,541
Adjusted earnings (loss) from continuing operations available to shareholders	$ 83,320		$ (272,421)
Restricted share and performance bonus grants (in shares)	2,222,576	[1]	3,123,247
Deferred share grants (in shares)	203,185	[1]	184,546
Convertible debentures (in shares)	39,574,831	[1]	30,662,288
Shares outstanding on a diluted basis (in shares)	193,623,130		183,816,620
Diluted earnings (loss) from continuing operations per share available to shareholders (in CAD per share)	$ 0.43		$ (1.82)
Diluted earnings (loss) per share available to shareholders (in CAD per share)	$ 0.41		$ (1.85)
[1]	The assumed conversion into shares results in an anti-dilutive position; therefore, these items have not been included in the computation of diluted earnings (loss) per share. The potentially dilutive instruments are the convertible features on the 6.5% convertible bonds, 6.75% $160M convertible debentures and 6.75% $100M convertible debentures as well as the stock options and share grants.

Note 15 - Discontinued Operat_3

Note 15 - Discontinued Operations (Details Textual) $ in Millions	Apr. 10, 2020CAD ($)
Disposition of Just Energy Japan KK [member]
Statement Line Items [Line Items]
Gain (loss) recognised on measurement to fair value less costs to sell or on disposal of assets or disposal groups constituting discontinued operation	$ (1.1)

Note 15 - Discontinued Operat_4

Note 15 - Discontinued Operations - Discontinued Operations (Details) - CAD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Statement Line Items [Line Items]
Cash and cash equivalents	$ 20,006	$ 26,093	$ 2,531	$ 9,927
Current trade and other receivables	372,530	403,907
Income taxes recoverable	7,067	6,641
Other current assets	143,857	203,270
Total current assets	611,191	686,767
Property and equipment	23,903	28,794
Intangible assets	362,389	370,958
ASSETS CLASSIFIED AS HELD FOR SALE	3,402	7,611
Trade and other payables, carrying amount	559,441	685,665
LIABILITIES CLASSIFIED AS HELD FOR SALE	2,198	4,906
Disposition of businesses in Germany, Ireland, and Japan [member] | Discontinued operations [member]
Statement Line Items [Line Items]
Cash and cash equivalents	1,222	898
Current trade and other receivables	997	4,978
Income taxes recoverable	12	12
Other current assets	599	1,140
Total current assets	2,830	7,028
Property and equipment	37	38
Intangible assets	535	545
ASSETS CLASSIFIED AS HELD FOR SALE	3,402	7,611
Trade and other payables, carrying amount	2,117	4,823
Deferred revenue	81	83
LIABILITIES CLASSIFIED AS HELD FOR SALE	$ 2,198	$ 4,906

Note 16 - Commitments and Con_3

Note 16 - Commitments and Contingencies (Details Textual)	1 Months Ended
	Mar. 31, 2020CAD ($)shares	Jun. 30, 2020CAD ($)
Statement Line Items [Line Items]
Legal proceedings, number of plaintiffs opted into federal minimum wage and overtime claims		1,800
Legal proceedings, number of plaintiffs certified as overtime claims		8,000
Conversion of class A special shares for common stock (in shares) | shares	9,500,000
Surety bond [member]
Statement Line Items [Line Items]
Estimated financial effect of contingent liabilities	$ 66,200,000	$ 48,900,000
Credit facility [member]
Statement Line Items [Line Items]
Borrowings, letters of credit	$ 72,500,000	$ 63,200,000

Note 16 - Commitments and Con_4

Note 16 - Commitments and Contingencies - Commitments (Details) $ in Thousands	Jun. 30, 2020CAD ($)
Statement Line Items [Line Items]
Gas, electricity and non-commodity contracts	$ 2,938,427
Not later than one year [member]
Statement Line Items [Line Items]
Gas, electricity and non-commodity contracts	1,125,798
Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Gas, electricity and non-commodity contracts	1,386,530
Later than four years and not later than five years [member]
Statement Line Items [Line Items]
Gas, electricity and non-commodity contracts	325,257
Later than five years [member]
Statement Line Items [Line Items]
Gas, electricity and non-commodity contracts	$ 100,842