Universal Energy Corporation is a Canadian

electric utility An electric utility, or a power company, is a company in the electric power industry (often a public utility) that engages in electricity generation and distribution of electricity for sale generally in a regulated market. Electric utilities are ...

and

natural gas Natural gas (also fossil gas, methane gas, and gas) is a naturally occurring compound of gaseous hydrocarbons, primarily methane (95%), small amounts of higher alkanes, and traces of carbon dioxide and nitrogen, hydrogen sulfide and helium ...

retailer headquartered in

Toronto Toronto ( , locally pronounced or ) is the List of the largest municipalities in Canada by population, most populous city in Canada. It is the capital city of the Provinces and territories of Canada, Canadian province of Ontario. With a p ...

, Ontario, with offices throughout

North America North America is a continent in the Northern Hemisphere, Northern and Western Hemisphere, Western hemispheres. North America is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South Ameri ...

. It focuses on long-term sales of residential, commercial, and industrial natural gas in the provinces of Ontario and British Columbia. It is a wholly owned subsidiary of Universal Energy Group. Has offices across North America * Partners with other oil and gas companies to pursue oil and gas prospects * Trades on the Toronto Stock Exchange under the symbol UEG

History

In January 2009, the

Ontario Energy Board The Ontario Energy Board is the provincial regulator of natural gas and electricity utilities in Ontario, Canada. This includes setting rates, and licensing all participants in the electricity sector including the Independent Electricity System O ...

announced that it intended to fine Universal Energy Corporation $200,000CA for making "false, misleading or deceptive statements to consumers." The announcement was the first such announcement since June 2003.

Canadian Canadians () are people identified with the country of Canada. This connection may be residential, legal, historical or cultural. For most Canadians, many (or all) of these connections exist and are collectively the source of their being ''C ...

Billionaire A billionaire is a person with a net worth of at least 1,000,000,000, one billion units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. It is a sub-category of the concept of the ultr ...

Mark Silver is the company's founder and

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

Ontario Ontario is the southernmost Provinces and territories of Canada, province of Canada. Located in Central Canada, Ontario is the Population of Canada by province and territory, country's most populous province. As of the 2021 Canadian census, it ...

MPP

Frank Klees Frank Klees (born March 6, 1951) is a former politician in Ontario, Canada. He was a Progressive Conservative member of the Legislative Assembly of Ontario from 1995 to 2014. He was a cabinet minister in the governments of Mike Harris and Ernie ...

sits on its board. Klees also received the single biggest contribution to his campaign to run as leader of the

Progressive Conservative Party of Ontario The Progressive Conservative Party of Ontario (PC; ), often shortened to the Ontario PC Party, or simply the PCs, colloquially known as the Tories, is a Centre-right politics, centre-right political party in Ontario, Canada. During its uninterr ...

from OPTUS Capital Corporation owned by Silver.

Universal Energy Corporation, a Canadian electric utility and natural gas retailer headquartered in Toronto, Ontario, has a focus on long-term sales of residential, commercial, and industrial natural gas in the provinces of Ontario and British Columbia. As a wholly owned subsidiary of Universal Energy Group, it plays a significant role in the energy sector.

Recent Developments and Leadership

* Mark Silver, a Canadian billionaire, is the company’s founder and CEO. * Frank Klees, an Ontario Member of Provincial Parliament (MPP), serves on the board of Universal Energy Corporation. Notably
Klees
received substantial campaign contributions from OPTUS Capital Corporation, which is owned by Silver.

Controversy and Regulatory Action

* In January 2009, the Ontario Energy Board announced its intention to fine Universal Energy Corporation $200,000CA for making “false, misleading, or deceptive statements to consumers.” This marked the first such announcement since June 2003.

Footnotes

External links

Canadian customer website
Natural gas companies of Canada {{canada-company-stub Electric power companies of Canada Electric power companies of Ontario Energy companies of Ontario

History

Recent Developments and Leadership

Controversy and Regulatory Action

See also

Footnotes

External links