Genie Energy (GNE) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 07, 2016
Entity Registrant Name	Genie Energy Ltd.
Entity Central Index Key	1,528,356
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Filer Category	Accelerated Filer
Class A Common Stock
Entity Common Stock, Shares Outstanding		1,574,326
Class B Common Stock
Entity Common Stock, Shares Outstanding		23,072,641

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 42,301	$ 38,786
Restricted cash-short-term	10,315	10,894
Certificates of deposit		8,850
Trade accounts receivable, net of allowance for doubtful accounts of $174 and $182 at September 30, 2016 and December 31, 2015, respectively	33,121	27,222
Inventory	6,841	11,440
Prepaid expenses	7,488	11,328
Other current assets	4,920	6,104
Total current assets	104,986	114,624
Property and equipment, net	1,471	1,347
Capitalized exploration costs-unproved oil and gas property		26,878
Goodwill	3,663	3,663
Restricted cash-long-term	1,199	1,802
Deferred income tax assets, net	1,642	1,642
Other assets	5,007	5,859
Total assets	117,968	155,815
Current liabilities:
Trade accounts payable	11,942	12,642
Accrued expenses	17,194	19,424
AMSO, LLC retirement obligations	964
Advances from customers	687	1,055
Income taxes payable	2,367	923
Due to IDT Corporation	61	438
Energy hedging contracts	1,142	2,192
Other current liabilities	1,287	878
Total current liabilities	35,644	37,552
Revolving credit loan payable		2,000
Other liabilities	911	1,566
Total liabilities	36,555	41,118
Commitments and contingencies
Genie Energy Ltd. stockholders' equity:
Preferred stock, $.01 par value; authorized shares-10,000: Series 2012-A, designated shares-8,750; at liquidation preference, consisting of 2,322 shares issued and outstanding at September 30, 2016 and December 31, 2015	19,743	19,743
Additional paid-in capital	126,256	124,449
Treasury stock, at cost, consisting of 201 shares and 198 shares of Class B common stock at September 30, 2016 and December 31, 2015, respectively	(1,599)	(1,570)
Accumulated other comprehensive income	1,538	154
Accumulated deficit	(48,901)	(19,647)
Total Genie Energy Ltd. stockholders' equity	97,286	123,377
Noncontrolling interests:
Noncontrolling interests	(14,206)	(7,013)
Receivable for issuance of equity	(1,667)	(1,667)
Total noncontrolling interests	(15,873)	(8,680)
Total equity	81,413	114,697
Total liabilities and equity	117,968	155,815
Class A Common Stock
Genie Energy Ltd. stockholders' equity:
Common stock, value	16	16
Class B Common Stock
Genie Energy Ltd. stockholders' equity:
Common stock, value	$ 233	$ 232

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Allowance for doubtful accounts, trade accounts receivable (in dollars)	$ 174	$ 182
Preferred stock, par value (In dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000	10,000
Series 2012-A Preferred Stock
Designated shares	8,750	8,750
Preferred stock, shares issued	2,322	2,322
Preferred stock, shares outstanding	2,322	2,322
Class A Common Stock
Common stock, par value (In dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	35,000	35,000
Common stock, shares issued	1,574	1,574
Common stock, shares outstanding	1,574	1,574
Class B Common Stock
Common stock, par value (In dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000	200,000
Common stock, shares issued	23,274	23,239
Common stock, shares outstanding	23,073	23,041
Treasury stock, shares	201	198

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Electricity		$ 55,057	$ 50,137	$ 138,494	$ 132,814
Natural gas		1,766	2,265	20,913	33,440
Other		330	586	1,186	2,227
Total revenues		57,153	52,988	160,593	168,481
Cost of revenues		(36,946)	(31,760)	(98,223)	(117,366)
Gross profit		20,207	21,228	62,370	51,115
Operating expenses, (gains) and losses:
Selling, general and administrative	[1]	14,945	15,909	46,888	49,016
Research and development			406	210	1,662
Exploration		1,323	1,531	4,439	4,390
Write-off of capitalized exploration costs		41,041		41,041
Gain on consolidation of AMSO, LLC				(1,262)
Equity in the net loss of AMSO, LLC			133	222	133
(Loss) income from operations		(37,102)	3,249	(29,168)	(4,086)
Interest income		70	105	257	306
Other income (expense), net		333	24	171	(110)
(Loss) income before income taxes		(36,699)	3,378	(28,740)	(3,890)
Provision for income taxes		(475)	(752)	(2,165)	(639)
Net (loss) income		(37,174)	2,626	(30,905)	(4,529)
Net loss attributable to noncontrolling interests		5,035	219	7,198	867
Net (loss) income attributable to Genie Energy Ltd.		(32,139)	2,845	(23,707)	(3,662)
Dividends on preferred stock		(370)	(370)	(1,111)	(1,111)
Net (loss) income attributable to Genie Energy Ltd. common stockholders.		$ (32,509)	$ 2,475	$ (24,818)	$ (4,773)
(Loss) earnings per share attributable to Genie Energy Ltd. common stockholders:
Basic		$ (1.43)	$ 0.11	$ (1.09)	$ (0.22)
Diluted		$ (1.43)	$ 0.10	$ (1.09)	$ (0.22)
Weighted-average number of shares used in calculation of (loss) earnings per share:
Basic		22,813	22,146	22,800	22,126
Diluted		22,813	23,622	22,800	22,126
Dividends declared per common share		$ 0.06		$ 0.18	$ 0.12
[1]	Stock-based compensation included in selling, general and administrative expenses.

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statements of Operations [Abstract]
Stock-based compensation included in selling, general and administrative expenses	$ 1,161	$ 1,241	$ 3,497	$ 4,074

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statements of Comprehensive (Loss) Income [Abstract]
Net (loss) income	$ (37,174)	$ 2,626	$ (30,905)	$ (4,529)
Other comprehensive income (loss):
Foreign currency translation adjustments	982	(612)	1,389	(50)
Comprehensive (loss) income	(36,192)	2,014	(29,516)	(4,579)
Comprehensive loss attributable to noncontrolling interests	5,035	208	7,193	865
Comprehensive (loss) income attributable to Genie Energy Ltd.	$ (31,157)	$ 2,222	$ (22,323)	$ (3,714)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities
Net loss	$ (30,905)	$ (4,529)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	294	326
Provision for doubtful accounts receivable	5	(18)
Deferred income taxes		(85)
Stock-based compensation	3,497	4,074
Write-off of capitalized exploration costs	41,041
Gain from repayment of revolving credit loan payable	(200)
Loss on disposal of property	25
Gain on consolidation of AMSO, LLC	(1,262)
Equity in the net loss of AMSO, LLC	222	133
Change in assets and liabilities:
Restricted cash	1,295	(327)
Trade accounts receivable	(5,904)	3,730
Inventory	4,599	(445)
Prepaid expenses	3,996	(1,195)
Other current assets and other assets	2,941	(744)
Trade accounts payable, accrued expenses and other current liabilities	(7,165)	(791)
Advances from customers	(369)	231
AMSO, LLC retirement obligations	(1,571)
Due to IDT Corporation	(378)	(462)
Income taxes payable	1,445	662
Net cash provided by operating activities	11,606	560
Investing activities
Capital expenditures	(449)	(324)
Investments in capitalized exploration costs-unproved oil and gas property	(12,884)	(17,765)
Proceeds from disposal of property	27
Repayment of notes receivable	50
Cash acquired from consolidation of AMSO, LLC	702
Capital contribution to AMSO, LLC received from Total	3,000
Capital contributions to AMSO, LLC	(63)	(125)
Purchase of certificates of deposit	(2,974)	(8,820)
Proceeds from maturities of certificates of deposit	11,900	4,688
Net cash used in investing activities	(691)	(22,346)
Financing activities
Dividends paid	(5,547)	(4,061)
Payments for acquisition	(227)	(290)
Repayment of revolving credit loan payable	(1,800)
Proceeds from exercise of stock options		174
Proceeds from exercise of GOGAS stock option		2,500
Repurchases of Class B common stock from employees	(29)	(22)
Net cash used in financing activities	(7,603)	(1,699)
Effect of exchange rate changes on cash and cash equivalents	203	(30)
Net increase (decrease) in cash and cash equivalents	3,515	(23,515)
Cash and cash equivalents at beginning of period	38,786	71,895
Cash and cash equivalents at end of period	42,301	48,380
Supplemental Schedule of Non-Cash Financing and Investing Activities
Net assets excluding cash and cash equivalents of AMSO, LLC acquired	560
Subsidiary equity grant reclassified to liability	1,689
Receivable for issuance of equity of subsidiaries		$ 2,500

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Basis of Presentation [Abstract]
Basis of Presentation	Note 1—Basis of Presentation The accompanying unaudited consolidated financial statements of Genie Energy Ltd. and its subsidiaries (the “Company” or “Genie”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. The balance sheet at December 31, 2015 has been derived from the Company’s audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, please refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the U.S. Securities and Exchange Commission (the “SEC”). The Company owns 99.3% of its subsidiary, Genie Energy International Corporation (“GEIC”), which owns 100% of Genie Retail Energy (“GRE”) and 92% of Genie Oil and Gas, Inc. (“GOGAS”). The Company’s principal businesses consist of the following: ● Genie Retail Energy owns retail energy providers (“REPs”), including IDT Energy, Inc. (“IDT Energy”), Residents Energy, Inc. (“Residents Energy”) and Retail Energy Holdings, LLC (see Note 14), and energy brokerage and marketing services. Its REP businesses resell electricity and natural gas to residential and small business customers primarily in the Eastern United States; and ● Genie Oil and Gas is an oil and gas exploration company that consists of: ● an 86.2% interest in Afek Oil and Gas, Ltd. (“Afek”), which operates an exploration project in the Golan Heights in Northern Israel, and ● other projects including (1) an 88.3% interest in Genie Mongolia, Inc. (“Genie Mongolia”), an oil shale exploration project in Central Mongolia, which is inactive, (2) a 98.3% interest in American Shale Oil Corporation (“AMSO”), which operated American Shale Oil, L.L.C. (“AMSO, LLC”), an oil shale development project in Colorado that is being decommissioned, and (3) an 86.1% interest in Israel Energy Initiatives, Ltd. (“IEI”), an oil shale development project in Israel, which is inactive. GRE has outstanding deferred stock units granted to directors and employees that represent an interest of 2.6% of the equity of GRE. Seasonality and Weather The weather and the seasons, among other things, affect GRE’s revenues. Weather conditions have a significant impact on the demand for natural gas used for heating and electricity used for heating and cooling. Typically, colder winters increase demand for natural gas and electricity, and hotter summers increase demand for electricity. Milder winters and/or summers have the opposite effect. Natural gas revenues typically increase in the first quarter due to increased heating demands and electricity revenues typically increase in the third quarter due to increased air conditioning use. Approximately 64% and 59% of GRE’s natural gas revenues for the relevant years were generated in the first quarter of 2015 and 2014, respectively, when demand for heating was highest. Although the demand for electricity is not as seasonal as natural gas (due, in part, to usage of electricity for both heating and cooling), approximately 30% and 20% of GRE’s electricity revenues for the relevant years were generated in the third quarter of 2015 and 2014, respectively. Because of dramatic increases in wholesale electricity prices in January and February 2014, the retail electricity prices that the GRE-owned REPs and many other variable rate electricity suppliers charged to their customers also increased sharply. As a result, approximately 45% of GRE’s electricity revenues in 2014 were generated in the first quarter of 2014. GRE’s revenues and operating income are subject to material seasonal variations, and the interim financial results are not necessarily indicative of the estimated financial results for the full year.

Revised Financial Statements

Revised Financial Statements	9 Months Ended
	Sep. 30, 2016
Revised Financial Statements [Abstract]
Revised Financial Statements	Note 2—Revised Financial Statements Reclassifications In the consolidated statement of operations, $0.6 million and $1.9 million previously included in “Financing fees” in the three and nine months ended September 30, 2015, respectively, have been reclassified to “Cost of revenues” to conform to the current year’s presentation. Correction of Errors In the consolidated statement of operations, Pennsylvania gross receipt tax was previously recorded as a reduction to electricity revenue instead of as cost of revenues. Electricity revenues and cost of revenues were adjusted to correct the classification by reflecting additional revenue and cost of revenues in the consolidated statement of operations in the amount of $0.7 million in the three months ended March 31, 2016, $0.6 million in the three months ended June 30, 2016, and $0.8 million and $2.3 million in the three and nine months ended September 30, 2015, respectively. GRE prepays various electricity costs that are subsequently charged to cost of revenues when the related electricity revenue is recognized. In the third quarter of 2016, the Company concluded that certain of these amounts included in “Prepaid expenses” in its consolidated balance sheet at March 31, 2016 and June 30, 2016 should have been charged to cost of revenues in the first and second quarters of 2016. The amounts that should have been charged to cost of revenues were $0.8 million in the three months ended March 31, 2016 and $0.7 million in the three months ended June 30, 2016. During the third quarter of 2016, the Company revised its first and second quarters of 2016 by reducing prepaid expenses and increasing electricity cost of revenues. The correction of these errors resulted in adjustments to the Company’s consolidated statements of operations and comprehensive income for the three months ended March 31, 2016 and June 30, 2016, and its consolidated balance sheets at March 31, 2016 and June 30, 2016. The impact of these adjustments on the Company’s consolidated financial statements was as follows: Three Months Ended March 31, 2016 Previously Prepaid Gross Revised (in thousands, except per share data) Electricity revenues $ 44,385 $ — $ 741 $ 45,126 Cost of revenues $ 33,274 $ 817 $ 741 $ 34,832 Gross profit $ 24,864 $ (817 ) $ — $ 24,047 Net income $ 5,667 $ (817 ) $ — $ 4,850 Net income attributable to Genie Energy, Ltd $ 6,486 $ (817 ) $ — $ 5,669 Comprehensive income $ 6,924 $ (817 ) $ — $ 6,107 Comprehensive income attributable to Genie Energy, Ltd $ 7,746 $ (817 ) $ — $ 6,929 Earnings per share attributable to Genie Energy, Ltd. common stockholders: Basic $ 0.27 $ (0.04 ) $ — $ 0.23 Diluted $ 0.26 $ (0.04 ) $ — $ 0.22 Three Months Ended June 30, 2016 Previously Reported Prepaid Gross Revised (in thousands, except per share data) Electricity revenues $ 37,728 $ — $ 584 $ 38,312 Cost of revenues $ 25,171 $ 691 $ 584 $ 26,446 Gross profit $ 18,806 $ (691 ) $ — $ 18,115 Net income $ 2,108 $ (691 ) $ — $ 1,417 Net income attributable to Genie Energy, Ltd $ 3,452 $ (691 ) $ — $ 2,761 Comprehensive income $ 1,258 $ (691 ) $ — $ 567 Comprehensive income attributable to Genie Energy, Ltd $ 2,593 $ (691 ) $ — $ 1,902 Earnings per share attributable to Genie Energy, Ltd. common stockholders: Basic $ 0.14 $ (0.04 ) $ — $ 0.10 Diluted $ 0.13 $ (0.03 ) $ — $ 0.10

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 3—Fair Value Measurements The following table presents the balance of assets and liabilities measured at fair value on a recurring basis: Level 1 (1) Level 2 (2) Level 3 (3) Total (in thousands) September 30, 2016 Assets: Derivative contracts $ 314 $ 2,151 $ — $ 2,465 Liabilities: Derivative contracts $ 114 $ 1,028 $ — $ 1,142 December 31, 2015 Assets: Derivative contracts $ 373 $ 1,308 $ — $ 1,681 Liabilities: Derivative contracts $ 609 $ 1,583 $ — $ 2,192 (1) – quoted prices in active markets for identical assets or liabilities (2) – observable inputs other than quoted prices in active markets for identical assets and liabilities (3) – no observable pricing inputs in the market The Company’s derivative contracts consist of natural gas and electricity put and call options and swaps. The underlying asset in the Company’s put and call options is a forward contract. The Company’s swaps are agreements whereby a floating (or market or spot) price is exchanged for a fixed price over a specified period. The Company’s derivatives were classified as Level 1 or Level 2. The Level 1 derivatives were valued using quoted prices in active markets for identical contracts. The Level 2 derivatives were valued using observable inputs based on quoted market prices in active markets for similar contracts. Fair Value of Other Financial Instruments The estimated fair value of the Company’s other financial instruments was determined using available market information or other appropriate valuation methodologies. However, considerable judgment is required in interpreting this data to develop estimates of fair value. Consequently, the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange. Restricted cash—short-term and long-term, certificates of deposit, prepaid expenses, other current assets, advances from customers, due to IDT Corporation and other current liabilities. , Other assets, revolving credit loan payable, and other liabilities.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2016
Derivative Instruments [Abstract]
Derivative Instruments	Note 4—Derivative Instruments The primary risk managed by the Company using derivative instruments is commodity price risk, which is accounted for in accordance with Accounting Standards Codification 815—Derivatives and Hedging. Natural gas and electricity put and call options and swaps are entered into as hedges against unfavorable fluctuations in market prices of natural gas and electricity. The Company does not apply hedge accounting to these options or swaps, therefore the changes in fair value are recorded in earnings. By using derivative instruments to mitigate exposures to changes in commodity prices, the Company exposes itself to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk. The Company minimizes the credit or repayment risk in derivative instruments by entering into transactions with high-quality counterparties. At September 30, 2016 and December 31, 2015, GRE’s swaps and options were traded on the New York Mercantile Exchange. The summarized volume of GRE’s outstanding contracts and options at September 30, 2016 was as follows (MWh – Megawatt hour and Dth – Decatherm): Commodity Settlement Dates Volume Electricity November 2016 157,920 MWh Electricity December 2016 164,524 MWh Electricity January 2017 504,000 MWh Electricity February 2017 480,000 MWh Electricity March 2017 73,600 MWh Electricity July 2017 70,400 MWh Electricity August 2017 80,960 MWh Electricity October 2017 88,000 MWh Electricity November 2017 84,000 MWh Electricity December 2017 80,000 MWh Natural gas November 2016 600,000 Dth Natural gas February 2017 800,000 Dth Natural gas March 2017 1,200,000 Dth Natural gas April 2017 300,000 Dth Natural gas February 2018 66,500 Dth The fair value of outstanding derivative instruments recorded as assets in the accompanying consolidated balance sheets were as follows: Asset Derivatives Balance Sheet Location September 30, December 31, (in thousands) Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Other current assets $ 2,465 $ 1,681 The fair value of outstanding derivative instruments recorded as liabilities in the accompanying consolidated balance sheets were as follows: Liability Derivatives Balance Sheet Location September 30, December 31, (in thousands) Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Energy hedging contracts $ 1,142 $ 2,192 The effects of derivative instruments on the consolidated statements of operations were as follows: Amount of Gain (Loss) Recognized on Derivatives Derivatives not designated or not Location of Gain (Loss) Three Months Ended September 30, Nine Months Ended September 30, qualifying as hedging instruments Recognized on Derivatives 2016 2015 2016 2015 (in thousands) Energy contracts and options Cost of revenues $ (1,183 ) $ (427 ) $ (381 ) $ (1,516 )

Afek Oil and Gas Exploration Ac

Afek Oil and Gas Exploration Activities	9 Months Ended
	Sep. 30, 2016
Afek Oil and Gas Exploration Activities [Abstract]
Afek Oil and Gas Exploration Activities	Note 5—Afek Oil and Gas Exploration Activities On February 1, 2016, Israel’s Northern District Planning and Building Committee approved a two-year permit extension for Afek to continue to conduct its up to ten-well oil and gas exploration program. This extension is expected to cover the remainder of Afek’s ongoing exploration program in the area covered by it exploration license. In April 2016, Afek received an extension of its license from the Israeli Ministry of Energy and Water through April 9, 2017. Afek is conducting its oil and gas exploration program pursuant to that license. The Company accounts for Afek’s oil and gas activities under the successful efforts method of accounting. Under this method, the costs of drilling exploratory wells and exploratory-type stratigraphic test wells are capitalized, pending determination of whether the well has found proved reserves. Other exploration costs are charged to expense as incurred. Unproved properties are assessed for impairment, and if considered impaired, are charged to expense when such impairment is deemed to have occurred. In February 2015, Afek began drilling its first exploratory well. To date, Afek has completed drilling five wells in the Southern region of its license area. Afek continues to analyze data collected from the five wells drilled and from the flow tests conducted at two of the completed wells. In light of the analysis received in the third quarter of 2016 and given current market conditions, Afek determined that, based on current information, it did not have a clear path to demonstrate probable or possible reserves in the Southern region of its license area over the next 12 to 18 months. Since there was substantial doubt regarding the economic viability of these wells, in the three months ended September 30, 2016, Afek wrote off the $41.0 million of capitalized exploration costs incurred in the Southern region. Certain analysis and non-field work continues related to the Southern portion of Afek’s license area. In the three months ended September 30, 2016 and 2015, the Company recognized exploration expense of $1.3 million and $1.5 million, respectively, and in the nine months ended September 30, 2016 and 2015, the Company recognized exploration expense of $4.4 million in both periods. Afek has turned its operational focus to the Northern region of its license area. Afek views the Northern and Southern regions separately when evaluating its unproved properties. The data analyzed to date suggests that the Southern block resources may extend northward at depths potentially sufficient to have induced a greater level of maturation of the resource. To validate this hypothesis, Afek plans to drill an exploration well at one of the Northern sites in its original drilling permit approvals. Subject to permitting and completion of drilling rig upgrades, Afek expects to spud this well in the first quarter of 2017. Afek assesses the economic and operational viability of its project on an ongoing basis. The assessment requires significant estimates and assumptions by management. Should Afek’s estimates or assumptions regarding the recoverability of future capitalized exploration costs, if any, prove to be incorrect, Afek may be required to record impairments of such costs in future periods and such impairments could be material.

Investment in American Shale Oi

Investment in American Shale Oil, LLC	9 Months Ended
	Sep. 30, 2016
Investment in American Shale Oil, LLC [Abstract]
Investment in American Shale Oil, LLC	Note 6—Investment in American Shale Oil, LLC Through April 30, 2016, the Company accounted for its ownership interest in AMSO, LLC using the equity method since the Company had the ability to exercise significant influence over its operating and financial matters, although it did not control AMSO, LLC. AMSO, LLC was a variable interest entity, however, the Company determined that it was not the primary beneficiary, as the Company did not have the power to direct the activities of AMSO, LLC that most significantly impact AMSO, LLC’s economic performance. On February 23, 2016, Total notified the Company of its decision not to continue to fund AMSO, LLC. On March 23, 2016, Total gave AMSO its notice of withdrawal from AMSO, LLC. The withdrawal was effective on April 30, 2016. The Company is currently decommissioning the project. As of April 1, 2016, AMSO and Total agreed that Total would pay AMSO, LLC $3.0 million as full payment of its share of all costs associated with the decommissioning, winding up and dissolution of AMSO, LLC. Total will not be refunded any amount if the decommissioning costs are less than $3.0 million. Effective April 30, 2016, AMSO, LLC’s assets, liabilities, results of operations and cash flows are included in the Company’s consolidated financial statements. The following table summarizes the change in the balance of the Company’s investment in AMSO, LLC: Nine Months Ended 2016 2015 (in thousands) Balance, beginning of period $ (399 ) $ (252 ) Capital contributions 63 125 Equity in the net loss of AMSO, LLC (222 ) (133 ) Elimination of the investment in AMSO, LLC 558 — Balance, end of period $ — $ (260 ) At December 31, 2015, the liability for equity loss in AMSO, LLC was included in “Accrued expenses” in the consolidated balance sheet. Summarized unaudited statements of operations of AMSO, LLC through the April 30, 2016 acquisition date are as follows: Three Period from Nine Months (in thousands) Operating expenses: General and administrative $ 86 $ 120 $ 302 Research and development 1,171 3,512 3,737 Total operating expenses 1,257 3,632 4,039 Loss from operations and net loss $ (1,257 ) $ (3,632 ) $ (4,039 ) Summarized unaudited balance sheet of AMSO, LLC at April 30, 2016 (in thousands) is as follows: Assets Cash and cash equivalents $ 750 Receivable from Total 3,000 Other current assets 128 Other assets 860 Total assets $ 4,738 Liabilities and member’s interest Current liabilities $ 518 Asset retirement obligations 2,535 Other liabilities 981 Member’s interest 704 Total liabilities and member’s interest $ 4,738 The Company accounted for its acquisition on April 30, 2016 of Total’s ownership interest in AMSO, LLC as a business combination. The Company estimated the fair value of AMSO, LLC to be nil, as it had ceased operations and its shutdown was in progress. The Company recognized a gain from the acquisition of Total’s interest in AMSO, LLC because the Company acquired the net assets of AMSO, LLC while no consideration was transferred by the Company, due to the Company’s assumption of the risk associated with the shutdown obligations. The gain also included the Company’s gain on the remeasurement of AMSO’s investment in AMSO, LLC at its acquisition date fair value. The aggregate gain recognized was $1.3 million, which was included in “Gain on consolidation of AMSO, LLC” in the consolidated statements of operations. Revenue, loss from operations and net loss of AMSO, LLC since the acquisition date included in the Company’s consolidated statement of operations are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Revenue $ — $ — $ — $ — Loss from operations and net loss $ (55 ) $ — $ (207 ) $ — Revenue and net (loss) income of the Company as if the acquisition of AMSO, LLC occurred on January 1, 2015 is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Revenue $ 57,153 $ 52,988 $ 160,593 $ 168,481 Net (loss) income $ (37,174 ) $ 1,502 $ (34,315 ) $ (8,435 ) In April 2016, AMSO, LLC recorded a liability for the decommissioning of its project and the remediation of the leased area. The following table summarizes the change in the balance of the AMSO, LLC retirement obligations after the consolidation of AMSO, LLC: (in thousands) Liability at April 30, 2016 acquisition date $ 2,535 Adjustments (35 ) Payments (1,536 ) Balance, September 30, 2016 $ 964

Equity

Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Equity	Note 7—Equity Changes in the components of equity were as follows: Nine Months Ended Attributable Noncontrolling Total (in thousands) Balance, December 31, 2015 $ 123,377 $ (8,680 ) $ 114,697 Dividends on preferred stock (1,111 ) — (1,111 ) Dividends on common stock ($0.18 per share) (4,436 ) — (4,436 ) Subsidiary equity grant reclassified to liability (1,689 ) — (1,689 ) Restricted Class B common stock repurchased from employees (29 ) — (29 ) Stock-based compensation 3,497 — 3,497 Comprehensive loss: Net loss (23,707 ) (7,198 ) (30,905 ) Foreign currency translation adjustments 1,384 5 1,389 Comprehensive loss (22,323 ) (7,193 ) (29,516 ) Balance, September 30, 2016 $ 97,286 $ (15,873 ) $ 81,413 Dividend Payments On August 15, 2016, May 16, 2016 and on February 16, 2016, the Company paid a quarterly Base Dividend of $0.1594 per share on its Series 2012-A Preferred Stock (“Preferred Stock”) for the second quarter of 2016, the first quarter of 2016 and for the fourth quarter of 2015, respectively. The aggregate dividends paid on the Company’s Preferred Stock in each of the nine months ended September 30, 2016 and 2015 was $1.1 million. On October 14, 2016, the Company’s Board of Directors declared a quarterly Base Dividend of $0.1594 per share on the Preferred Stock for the third quarter of 2016. The dividend will be paid on or about November 15, 2016 to stockholders of record as of the close of business on October 28, 2016. On August 26, 2016, May 20, 2016 and on February 12, 2016, the Company paid a quarterly dividend of $0.06 per share on its Class A common stock and Class B common stock. On May 22, 2015 and March 31, 2015, the Company paid a quarterly dividend of $0.06 per share on its Class A common stock and Class B common stock. The aggregate dividends paid on the Company’s Class A common stock and Class B common stock in the nine months ended September 30, 2016 and 2015 was $4.4 million and $3.0 million, respectively. In November 2016, the Company’s Board of Directors declared a quarterly dividend of $0.06 per share on its Class A common stock and Class B common stock for the third quarter of 2016. The dividend will be paid on or about December 2, 2016 to stockholders of record as of the close of business on November 21, 2016. Stock Repurchase Program On March 11, 2013, the Board of Directors of the Company approved a stock repurchase program for the repurchase of up to an aggregate of 7.0 million shares of the Company’s Class B common stock. There were no repurchases under this program in the nine months ended September 30, 2016 and 2015. At September 30, 2016, 6.9 million shares remained available for repurchase under the stock repurchase program. Subsidiary Equity Grant Reclassified to Liability GRE had the right to issue shares of the Company’s Class B common stock or pay cash to satisfy its obligations to issue common stock of GRE upon the vesting of the deferred stock units it had previously granted to officers and employees of the Company. GRE elected to pay cash for the deferred stock units that vested in June and July 2016. The Company paid cash in the amount of $1.7 million in August 2016 to satisfy its obligation to issue common stock of GRE. Variable Interest Entity Citizens Choice Energy, LLC (“CCE”), is a REP that resells electricity and natural gas to residential and small business customers in the State of New York. Since 2011, the Company provided CCE with substantially all of the cash required to fund its operations. The Company determined that it has the power to direct the activities of CCE that most significantly impact its economic performance and it has the obligation to absorb losses of CCE that could potentially be significant to CCE on a stand-alone basis. The Company therefore determined that it is the primary beneficiary of CCE, and as a result, the Company consolidates CCE within its GRE segment. The Company does not own any interest in CCE and thus the net income or loss incurred by CCE was attributed to noncontrolling interests in the accompanying consolidated statements of operations. In October 2015, GRE paid $0.2 million to the owner of the limited liability company interests in CCE, and loaned CCE $0.5 million in exchange for an option to purchase 100% of the issued and outstanding limited liability company interests of CCE for one dollar plus the forgiveness of the $0.5 million loan. The option expires on October 22, 2023. Net income (loss) related to CCE and aggregate net funding repaid to (provided by) the Company by CCE in order to finance its operations were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Net income (loss) $ 841 $ 49 $ (885 ) $ (24 ) Aggregate funding repaid to (provided by) the Company, net $ 617 $ 28 $ (381 ) $ 869 Summarized combined balance sheet amounts related to CCE was as follows: September 30, December 31, (in thousands) Assets Cash and cash equivalents $ 116 $ 48 Restricted cash 5 25 Trade accounts receivable 747 844 Prepaid expenses 459 479 Other current assets 19 51 Other assets 448 468 Total assets $ 1,794 $ 1,915 Liabilities and noncontrolling interests Current liabilities $ 650 $ 267 Due to IDT Energy 808 427 Noncontrolling interests 336 1,221 Total liabilities and noncontrolling interests $ 1,794 $ 1,915 The assets of CCE may only be used to settle obligations of CCE, and may not be used for other consolidated entities. The liabilities of CCE are non-recourse to the general credit of the Company’s other consolidated entities.

(Loss) Earnings Per Share

(Loss) Earnings Per Share	9 Months Ended
	Sep. 30, 2016
(Loss) Earnings Per Share [Abstract]
(Loss) Earnings Per Share	Note 8—(Loss) Earnings Per Share Basic earnings per share is computed by dividing net income or loss attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase is anti-dilutive. The weighted-average number of shares used in the calculation of basic and diluted (loss) earnings per share attributable to the Company’s common stockholders consists of the following: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Basic weighted-average number of shares 22,813 22,146 22,800 22,126 Effect of dilutive securities: Stock options — 57 — — Non-vested restricted Class B common stock — 1,419 — — Diluted weighted-average number of shares 22,813 23,622 22,800 22,126 The following shares were excluded from the diluted loss per share computation because their inclusion would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Stock options 414 — 414 415 Non-vested restricted Class B common stock 1,829 — 1,829 2,459 Shares excluded from the calculation of diluted earnings per share 2,243 — 2,243 2,874 The diluted loss per share equals basic loss per share in the three and nine months ended September 30, 2016, and in the nine months ended September 30, 2015 because the Company had a net loss and the impact of the assumed exercise of stock options and vesting of restricted stock would have been anti-dilutive. An entity affiliated with Lord (Jacob) Rothschild has a one-time option, subject to certain conditions and exercisable between November 2017 and February 2018, to exchange its GOGAS shares for shares of the Company with equal fair value as determined by the parties. The number of shares issuable in such an exchange is not currently determinable. If this option is exercised, the shares issued by the Company may dilute the earnings per share in future periods. An employee of the Company, pursuant to the terms of his employment agreement, has the option to exchange his equity interests in IEI, Afek, Genie Mongolia and any equity interest that he may acquire in other entities that the Company may create, for shares of the Company. In addition, employees and directors of the Company that were previously granted restricted stock of Afek and Genie Mongolia have the right to exchange the restricted stock, upon vesting of such shares, into shares of the Company’s Class B common stock. GRE has the right, at its option, to satisfy its obligations to issue common stock of GRE upon the vesting of the deferred stock units it granted in July 2015 to officers and employees of the Company in shares of the Company’s Class B common stock or cash. These exchanges and issuances, if elected, would be based on the relative fair value of the shares exchanged or to be issued. The number of shares of the Company’s stock issuable in an exchange is not currently determinable. If shares of the Company’s stock are issued upon such exchange, the Company’s earnings per share may be diluted in future periods.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Note 9—Related Party Transactions On October 28, 2011, the Company was spun-off by IDT, its former parent company, (the “Spin-Off”). The Company entered into various agreements with IDT prior to the Spin-Off including an agreement for certain services to be performed by the Company and IDT. Following the Spin-Off, the charges for services provided by IDT are included in “Selling, general and administrative” expense in the consolidated statements of operations. Also, the Company provides specified administrative services to certain of IDT’s foreign subsidiaries. The charges for these services reduce the Company’s “Selling, general and administrative” expense. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Amount IDT charged the Company $ 406 $ 521 $ 1,342 $ 1,627 Amount the Company charged IDT $ 151 $ 142 $ 425 $ 401

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2016
Business Segment Information [Abstract]
Business Segment Information	Note 10—Business Segment Information The Company owns 99.3% of its subsidiary, GEIC, which owns 100% of GRE and 92% of GOGAS. The Company has three reportable business segments: GRE, Afek and GOGAS. GRE owns REPs including IDT Energy, Residents Energy and Retail Energy Holdings, LLC (see Note 14), and energy brokerage and marketing services. Its REP businesses resell electricity and natural gas to residential and small business customers primarily in the Eastern United States. The Afek segment is comprised of the Company’s 86.2% interest in Afek, which operates an oil and gas exploration project in the Golan Heights in Northern Israel. GOGAS is an oil and gas exploration company. The GOGAS segment is comprised of oil shale projects including (1) an 88.3% interest in Genie Mongolia, an oil shale exploration project in Central Mongolia, which is inactive, (2) a 98.3% interest in AMSO, which operated AMSO, LLC, an oil shale development project in Colorado that is being decommissioned, and (3) an 86.1% interest in IEI, an oil shale development project in Israel, which is inactive. GRE has outstanding deferred stock units granted to officers and employees that represent an interest of 2.6% of the equity of GRE. Corporate costs include unallocated compensation, consulting fees, legal fees, business development expense and other corporate-related general and administrative expense. Corporate does not generate any revenues, nor does it incur any cost of revenues. The Company’s reportable segments are distinguished by types of service, customers and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company’s chief operating decision maker. The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its business segments based primarily on income (loss) from operations. There are no significant asymmetrical allocations to segments. Operating results for the business segments of the Company were as follows: (in thousands) GRE Afek GOGAS Corporate Total Three Months Ended September 30, 2016 Revenues $ 57,153 $ — $ — $ — $ 57,153 Income (loss) from operations 7,893 (42,666 ) (148 ) (2,181 ) (37,102 ) Exploration — 1,323 — — 1,323 Write-off of capitalized exploration costs — 41,041 — — 41,041 Three Months Ended September 30, 2015 Revenues $ 52,988 $ — $ — $ — $ 52,988 Income (loss) from operations 7,934 (1,842 ) (729 ) (2,114 ) 3,249 Research and development — 11 395 — 406 Exploration — 1,531 — — 1,531 Equity in the net loss of AMSO, LLC — — 133 — 133 Nine Months Ended September 30, 2016 Revenues $ 160,593 $ — $ — $ — $ 160,593 Income (loss) from operations 23,760 (46,281 ) 221 (6,868 ) (29,168 ) Research and development — — 210 — 210 Exploration — 4,439 — — 4,439 Write-off of capitalized exploration costs — 41,041 — — 41,041 Gain on consolidation of AMSO, LLC — — 1,262 — 1,262 Equity in the net loss of AMSO, LLC — — 222 — 222 Nine Months Ended September 30, 2015 Revenues $ 168,481 $ — $ — $ — $ 168,481 Income (loss) from operations 10,201 (5,050 ) (2,423 ) (6,814 ) (4,086 ) Research and development — 63 1,599 — 1,662 Exploration — 4,390 — — 4,390 Equity in the net loss of AMSO, LLC — — 133 — 133 Total assets for the business segments of the Company were as follows: (in thousands) GRE Afek GOGAS Corporate Total Total assets: September 30, 2016 $ 79,025 $ 7,342 $ 14,553 $ 17,048 $ 117,968 December 31, 2015 80,177 38,665 $ 17,770 19,203 155,815

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 11—Commitments and Contingencies Legal Proceedings On March 13, 2014, named plaintiff, Anthony Ferrare, commenced a putative class-action lawsuit against IDT Energy, Inc. in the Court of Common Pleas of Philadelphia County, Pennsylvania. The complaint was served on IDT Energy on July 16, 2014. The named plaintiff filed the suit on behalf of himself and other former and current electric customers of IDT Energy in Pennsylvania with variable rate plans, whom he contends were injured as a result of IDT Energy’s allegedly unlawful sales and marketing practices. On August 7, 2014, IDT Energy removed the case to the United States District Court for the Eastern District of Pennsylvania. On October 20, 2014, IDT Energy moved to stay or, alternatively, dismiss the complaint, as amended, by the named plaintiff. On November 10, 2014, the named plaintiff opposed IDT Energy’s motion to dismiss and IDT Energy filed a reply memorandum of law in further support of its motion to dismiss. On June 10, 2015, the Court granted IDT Energy’s motion to stay and denied its motion to dismiss without prejudice. The parties participated in mediation, and entered into a Memorandum of Understanding (“MOU”) with respect to a proposed settlement of the above-captioned putative class action (as well as the other putative class actions referred to in this section). There are a number of material issues not addressed by the MOU that must be resolved before a settlement can be finalized. The parties notified the Court of that development and are working towards finalizing the settlement, which will need to be approved by the Court. The Company believes that the claims in this lawsuit are without merit. On June 20, 2014, the Pennsylvania Attorney General’s Office (“AG”) and the Acting Consumer Advocate (“OCA”) filed a Joint Complaint against IDT Energy, Inc. with the Pennsylvania Public Utility Commission (“PUC”). In the Joint Complaint, the AG and the OCA allege, among other things, various violations of Pennsylvania’s Unfair Trade Practices and Consumer Protection Law, the Telemarketing Registration Act and the Pennsylvania PUC’s regulations. IDT Energy reached an agreement in principle on a settlement with the AG and the OCA to terminate the litigation with no admission of liability or finding of wrongdoing by IDT Energy. On August 4, 2015, IDT Energy, the AG, and the OCA filed a Joint Petition to the Pennsylvania PUC seeking approval of the settlement terms. Under the settlement, IDT Energy will issue additional refunds to its Pennsylvania customers who had variable rates for electricity supply in January, February and March of 2014. IDT Energy will also implement certain modifications to its sales, marketing and customer service processes, along with additional compliance and reporting requirements. The settlement was approved by the Pennsylvania PUC on July 8, 2016. In July 2016, IDT Energy paid the agreed-upon $2.4 million for additional customer refunds to a refund administrator, and that administrator is currently in the process of issuing the additional refunds to customers. On July 2, 2014, named plaintiff, Louis McLaughlin, filed a putative class-action lawsuit against IDT Energy, Inc. in the United States District Court for the Eastern District of New York, contending that he and other class members were injured as a result of IDT Energy’s allegedly unlawful sales and marketing practices. The named plaintiff filed the suit on behalf of himself and two subclasses: all IDT Energy customers who were charged a variable rate for their energy from July 2, 2008, and all IDT Energy customers who participated in IDT Energy’s rebate program from July 2, 2008. On January 22, 2016, the named plaintiff filed an amended complaint on behalf of himself and all IDT Energy customers in New York State against IDT Energy, Inc., Genie Retail Energy, Genie Energy International Corporation, and Genie Energy Ltd. (collectively, “IDT Energy”). On February 22, 2016, IDT Energy moved to dismiss the amended complaint, and the named plaintiff opposed that motion. The parties participated in mediation, and entered into a MOU with respect to a proposed settlement of the above-captioned putative class action (as well as the other putative class actions referred to in this section). There are a number of material issues not addressed by the MOU that must be resolved before a settlement can be finalized. The parties notified the Court of that development and are working towards finalizing the settlement, which will need to be approved by the Court. The Company believes that the claims in this lawsuit are without merit. On July 15, 2014, named plaintiff, Kimberly Aks, commenced a putative class-action lawsuit against IDT Energy, Inc. in New Jersey Superior Court, Essex County, contending that she and other class members were injured as a result of IDT Energy’s alleged unlawful sales and marketing practices. The named plaintiff filed the suit on behalf of herself and all other New Jersey residents who were IDT Energy customers at any time between July 11, 2008 and the present. The parties were engaged in discovery prior to the mediation described below. On April 20, 2016, the named plaintiff filed an amended complaint on behalf of herself and all IDT Energy customers in New Jersey against IDT Energy, Inc., Genie Retail Energy, Genie Energy International Corporation and Genie Energy Ltd. On June 27, 2016, defendants Genie Retail Energy, Genie Energy International Corporation and Genie Energy Ltd. filed a motion to dismiss the amended complaint. On August 26, 2016, the named plaintiff opposed that motion and IDT Energy filed a reply memorandum of law in further support of its motion to dismiss. The Court granted the motion to dismiss, but the parties agreed to set aside that decision to give the plaintiff an opportunity to submit opposition papers that had not been considered by the Court in rendering its decision. The parties participated in mediation, and entered into a MOU with respect to a proposed settlement of the above-captioned putative class action (as well as the other putative class actions referred to in this section). There are a number of material issues not addressed by the MOU that must be resolved before a settlement can be finalized. The parties notified the Court of that development and are working towards finalizing the settlement, which will need to be approved by the Court. The Company believes that the claims in this lawsuit are without merit. In addition to the above, the Company may from time to time be subject to legal proceedings that arise in the ordinary course of business. Although there can be no assurance in this regard, the Company does not expect any of those legal proceedings to have a material adverse effect on the Company’s results of operations, cash flows or financial condition. New York Public Service Commission Orders On February 23, 2016, the New York Public Service Commission (“PSC”) issued an order that sought to impose significant new restrictions on REPs operating in New York, including those owned by GRE. The restrictions described in the PSC’s order, which were to become effective March 4, 2016, would require that all REPs’ electricity and natural gas offerings to residential and small business customers include an annual guarantee of savings compared to the price charged by the relevant incumbent utility or, for electricity offerings, provide at least 30% of the supply from renewable sources. Customers not enrolled in a compliant program would be relinquished back to the local utility at the end of their contract period or, for variable price customers operating on month to month agreements, at the end of the current monthly billing cycle. On March 4, 2016, a group of parties from the REP industry sought and won a temporary restraining order to stay implementation of the most restrictive portions of the PSC’s order pending a court hearing on those parties’ motion for a preliminary injunction. On July 25, 2016, the New York State Supreme Court, County of Albany, entered a decision and order granting the Petitioners’ petition, vacated provisions 1 through 3 of the Order, and remitted the matter to the PSC for further proceedings consistent with the court’s order. The PSC has indicated that it intends to issue a new order to achieve similar objectives without the deficiencies cited by the Court. The Company is evaluating the potential impact of any new order from the PSC in response to the Court’s vacating of the PSC’s order on its New York operations, while preparing to operate in compliance with any new requirements that may be imposed. Depending on the final language of any new order, as well as the Company’s ability to modify its relationships with its New York customers, an order could have a substantial impact upon the operations of GRE-owned REPs in New York. On July 14, 2016, the PSC issued an Order restricting REPs, including those owned by GRE, from serving customers enrolled in New York’s utility low-income assistance programs. Most recently, on September 27, 2016, the New York State Supreme Court, Albany County, issued an order temporarily restraining the PSC from implementing the July 14, 2016 Order. Representatives of the REP industry challenged the ruling in Court on both procedural and substantive grounds. The judge set a November 18, 2016 return date for the industry’s request to continue that injunction for the duration of the proceeding, which seeks an order permanently invalidating the PSC’s order. Purchase Commitments The Company had purchase commitments of $16.5 million at September 30, 2016. The purchase commitments outstanding at September 30, 2016 are expected to be paid as follows: $12.1 million in the twelve months ending September 30, 2017, $3.3 million in the twelve months ending September 30, 2018 and $1.1 million in the twelve months ending September 30, 2019. Renewable Energy Credits GRE must obtain a certain percentage or amount of its power supply from renewable energy sources in order to meet the requirements of renewable portfolio standards in the states in which it operates. This requirement may be met by obtaining renewable energy credits that provide evidence that electricity has been generated by a qualifying renewable facility or resource. At September 30, 2016, GRE had commitments to purchase renewable energy credits of $42.1 million. Tax Audits The Company is subject to audits in various jurisdictions for various taxes. Amounts asserted by taxing authorities or the amount ultimately assessed against the Company could be greater than accrued amounts. Accordingly, additional provisions may be recorded in the future as revised estimates are made or underlying matters are settled or resolved. Imposition of assessments as a result of tax audits could have an adverse effect on the Company’s results of operations, cash flows and financial condition. Letters of Credit At September 30, 2016, the Company had letters of credit outstanding totaling $8.2 million primarily for the benefit of regional transmission organizations that coordinate the movement of wholesale electricity and for certain utility companies. The letters of credit outstanding at September 30, 2016 expire as follows: $6.5 million in the twelve months ending September 30, 2017 and $1.7 million in the twelve months ending September 30, 2018. Performance Bonds GRE has performance bonds issued through a third party for the benefit of various states in order to comply with the states’ financial requirements for REPs. At September 30, 2016, GRE had aggregate performance bonds of $7.4 million outstanding. Other Contingencies As of November 19, 2015, IDT Energy and certain of its affiliates entered into an Amended and Restated Preferred Supplier Agreement with BP Energy Company (“BP”). The agreement’s termination date is November 30, 2019, except either party may terminate the agreement on November 30, 2018 by giving the other party notice by May 31, 2018. Under the agreement, IDT Energy purchases electricity and natural gas at market rate plus a fee. IDT Energy’s obligations to BP are secured by a first security interest in deposits or receivables from utilities in connection with their purchase of IDT Energy’s customer’s receivables, and in any cash deposits or letters of credit posted in connection with any collateral accounts with BP. IDT Energy’s ability to purchase electricity and natural gas under this agreement is subject to satisfaction of certain conditions including the maintenance of certain covenants. At September 30, 2016, the Company was in compliance with such covenants. At September 30, 2016, restricted cash—short-term of $0.2 million and trade accounts receivable of $33.1 million were pledged to BP as collateral for the payment of IDT Energy’s trade accounts payable to BP of $8.7 million at September 30, 2016.

Revolving Lines of Credit

Revolving Lines of Credit	9 Months Ended
	Sep. 30, 2016
Revolving Lines of Credit [Abstract]
Revolving Lines of Credit	Note 12—Revolving Lines of Credit On December 17, 2015, GRE, IDT Energy and certain affiliates entered into a Credit Agreement with Maple Bank GmbH for a revolving loan facility. On December 17, 2015, GRE borrowed $2.0 million under the facility. In February 2016, the German banking regulator, Bafin, closed Maple Bank GmbH due to impending financial over-indebtedness related to tax-evasion investigations. In September 2016, GRE, and its affiliates entered into a settlement agreement with the court appointed liquidator of Maple Bank. Under this agreement, GRE paid $1.8 million as a full settlement of all of its obligations, and the revolving loan facility was terminated. Accordingly, GRE recorded a gain from this settlement of $0.2 million. As of April 23, 2012, the Company and IDT Energy entered into a Loan Agreement with JPMorgan Chase Bank for a revolving line of credit for up to a maximum principal amount of $25.0 million. The proceeds from the line of credit may be used to provide working capital and for the issuance of letters of credit. The Company agreed to deposit cash in a money market account at JPMorgan Chase Bank as collateral for the line of credit equal to the greater of (a) $10.0 million or (b) the sum of the amount of letters of credit outstanding plus the outstanding principal under the revolving note. The Company is not permitted to withdraw funds or exercise any authority over the required balance in the collateral account. The principal outstanding will bear interest at the lesser of (a) the LIBOR rate multiplied by the statutory reserve rate established by the Board of Governors of the Federal Reserve System plus 1.0% per annum, or (b) the maximum rate per annum permitted by whichever of applicable federal or Texas laws permit the higher interest rate. Interest is payable at least every three months and all outstanding principal and any accrued and unpaid interest is due on the maturity date of May 31, 2017. The Company pays a quarterly unused commitment fee of 0.08% per annum on the difference between $25.0 million and the average daily outstanding principal balance of the note. In addition, as of April 23, 2012, GEIC issued a Corporate Guaranty to JPMorgan Chase Bank whereby GEIC unconditionally guarantees the full payment of all indebtedness of the Company and IDT Energy under the Loan Agreement. At September 30, 2016 and December 31, 2015, there were no amounts borrowed under the line of credit, and cash collateral of $10.0 million was included in “Restricted cash—short-term” in the consolidated balance sheet. In addition, at September 30, 2016 and December 31, 2015, letters of credit of $8.2 million and $7.7 million, respectively, were outstanding.

Recently Issued Accounting Stan

Recently Issued Accounting Standards Not Yet Adopted	9 Months Ended
	Sep. 30, 2016
Recently Issued Accounting Standards Not Yet Adopted [Abstract]
Recently Issued Accounting Standards Not Yet Adopted	Note 13—Recently Issued Accounting Standards Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board jointly issued a comprehensive new revenue recognition standard that will supersede most of the current revenue recognition guidance under U.S. GAAP and International Financial Reporting Standards (“IFRS”). The goals of the revenue recognition project were to clarify and converge the revenue recognition principles under U.S. GAAP and IFRS and to develop guidance that would streamline and enhance revenue recognition requirements. The Company will adopt this standard on January 1, 2018. Entities have the option of using either a full retrospective or modified retrospective approach for the adoption of the standard. The Company is evaluating the impact that the standard will have on its consolidated financial statements. In July 2015, the FASB issued an Accounting Standards Update (“ASU”) that simplifies the subsequent measurement of inventory. The amendments in this ASU do not apply to inventory that is measured using last-in, first-out or the retail inventory method. The ASU changes the measurement of inventory to the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company measures GRE’s natural gas inventory at weighted average cost. The Company will adopt the amendments in this ASU on January 1, 2017. The Company does not expect the adoption of this ASU to have a significant impact on its consolidated financial statements. In January 2016, the FASB issued an ASU to provide more information about recognition, measurement, presentation and disclosure of financial instruments. The amendments in the ASU include, among other changes, the following: (1) equity investments (except those accounted for under the equity method or that result in consolidation) will be measured at fair value with changes in fair value recognized in net income, (2) a qualitative assessment each reporting period to identify impairment of equity investments without readily determinable fair values, (3) financial assets and financial liabilities will be presented separately by measurement category and form of financial asset on the balance sheet or the notes to the financial statements, and (4) an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. Entities will no longer be able to recognize unrealized holding gains and losses on equity securities classified as available-for-sale in other comprehensive income. In addition, a practicability exception will be available for equity investments that do not have readily determinable fair values and do not qualify for the net asset value practical expedient. These investments may be measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Entities will have to reassess at each reporting period whether an investment qualifies for this practicability exception. The Company will adopt the amendments in this ASU on January 1, 2018. The Company is evaluating the impact that the ASU will have on its consolidated financial statements. In February 2016, the FASB issued an ASU related to the accounting for leases. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company will adopt the new standard on January 1, 2019. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is evaluating the impact that the new standard will have on its consolidated financial statements. In March 2016, the FASB ASU to i In June 2016, the FASB issued an ASU that changes the impairment model for most financial assets and certain other instruments. For receivables, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses in a manner similar to current practice, except the losses will be recognized as allowances instead of reductions in the amortized cost of the securities. In addition, an entity will have to disclose significantly more information about allowances, credit quality indicators and past due securities. The new provisions will be applied as a cumulative-effect adjustment to retained earnings. The Company will adopt the new standard on January 1, 2020. The Company is evaluating the impact that the new standard will have on its consolidated financial statements.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Event	Note 14—Subsequent Event On November 2, 2016, GRE acquired Retail Energy Holdings, LLC (“REH”), a privately held owner of REPs, for $9.5 million plus $1.4 million for REH’s working capital, or an aggregate cash payment of $10.9 million. The amount paid for REH’s working capital is subject to adjustment. REH operates as Town Square Energy in eight Eastern states, serving approximately 47,000 electricity residential customer equivalents. REH’s licenses and customer base expands GRE’s geographic footprint to four new states – New Hampshire, Rhode Island, Massachusetts and Connecticut – and provides additional electricity customers in New Jersey, Maryland, Ohio and Pennsylvania. REH will be operated as a wholly owned subsidiary utilizing the Town Square Energy brand.

Revised Financial Statements (T

Revised Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2016
Revised Financial Statements [Abstract]
Schedule of adjustments on the Company's consolidated financial statements	Three Months Ended March 31, 2016 Previously Prepaid Gross Revised (in thousands, except per share data) Electricity revenues $ 44,385 $ — $ 741 $ 45,126 Cost of revenues $ 33,274 $ 817 $ 741 $ 34,832 Gross profit $ 24,864 $ (817 ) $ — $ 24,047 Net income $ 5,667 $ (817 ) $ — $ 4,850 Net income attributable to Genie Energy, Ltd $ 6,486 $ (817 ) $ — $ 5,669 Comprehensive income $ 6,924 $ (817 ) $ — $ 6,107 Comprehensive income attributable to Genie Energy, Ltd $ 7,746 $ (817 ) $ — $ 6,929 Earnings per share attributable to Genie Energy, Ltd. common stockholders: Basic $ 0.27 $ (0.04 ) $ — $ 0.23 Diluted $ 0.26 $ (0.04 ) $ — $ 0.22 Three Months Ended June 30, 2016 Previously Reported Prepaid Gross Revised (in thousands, except per share data) Electricity revenues $ 37,728 $ — $ 584 $ 38,312 Cost of revenues $ 25,171 $ 691 $ 584 $ 26,446 Gross profit $ 18,806 $ (691 ) $ — $ 18,115 Net income $ 2,108 $ (691 ) $ — $ 1,417 Net income attributable to Genie Energy, Ltd $ 3,452 $ (691 ) $ — $ 2,761 Comprehensive income $ 1,258 $ (691 ) $ — $ 567 Comprehensive income attributable to Genie Energy, Ltd $ 2,593 $ (691 ) $ — $ 1,902 Earnings per share attributable to Genie Energy, Ltd. common stockholders: Basic $ 0.14 $ (0.04 ) $ — $ 0.10 Diluted $ 0.13 $ (0.03 ) $ — $ 0.10

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Measurements [Abstract]
Schedule of balance of assets and liabilities measured at fair value on a recurring basis	Level 1 (1) Level 2 (2) Level 3 (3) Total (in thousands) September 30, 2016 Assets: Derivative contracts $ 314 $ 2,151 $ — $ 2,465 Liabilities: Derivative contracts $ 114 $ 1,028 $ — $ 1,142 December 31, 2015 Assets: Derivative contracts $ 373 $ 1,308 $ — $ 1,681 Liabilities: Derivative contracts $ 609 $ 1,583 $ — $ 2,192 (1) – quoted prices in active markets for identical assets or liabilities (2) – observable inputs other than quoted prices in active markets for identical assets and liabilities (3) – no observable pricing inputs in the market

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments [Abstract]
Summarized volume of GRE's outstanding contracts and options	Commodity Settlement Dates Volume Electricity November 2016 157,920 MWh Electricity December 2016 164,524 MWh Electricity January 2017 504,000 MWh Electricity February 2017 480,000 MWh Electricity March 2017 73,600 MWh Electricity July 2017 70,400 MWh Electricity August 2017 80,960 MWh Electricity October 2017 88,000 MWh Electricity November 2017 84,000 MWh Electricity December 2017 80,000 MWh Natural gas November 2016 600,000 Dth Natural gas February 2017 800,000 Dth Natural gas March 2017 1,200,000 Dth Natural gas April 2017 300,000 Dth Natural gas February 2018 66,500 Dth
Schedule of fair value of outstanding derivative instruments recorded as assets and liability	Asset Derivatives Balance Sheet Location September 30, December 31, (in thousands) Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Other current assets $ 2,465 $ 1,681 Liability Derivatives Balance Sheet Location September 30, December 31, (in thousands) Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Energy hedging contracts $ 1,142 $ 2,192
Effects of derivative instruments on the consolidated statements of operations	Amount of Gain (Loss) Recognized on Derivatives Derivatives not designated or not Location of Gain (Loss) Three Months Ended September 30, Nine Months Ended September 30, qualifying as hedging instruments Recognized on Derivatives 2016 2015 2016 2015 (in thousands) Energy contracts and options Cost of revenues $ (1,183 ) $ (427 ) $ (381 ) $ (1,516 )

Investment in American Shale 25

Investment in American Shale Oil, LLC (Tables)	9 Months Ended
	Sep. 30, 2016
Investment in American Shale Oil, LLC [Abstract]
Summary of change in balance of company's investment in AMSO, LLC	Nine Months Ended 2016 2015 (in thousands) Balance, beginning of period $ (399 ) $ (252 ) Capital contributions 63 125 Equity in the net loss of AMSO, LLC (222 ) (133 ) Elimination of the investment in AMSO, LLC 558 — Balance, end of period $ — $ (260 )
Summary of unaudited statements of operations of AMSO, LLC	Three Period from Nine Months (in thousands) Operating expenses: General and administrative $ 86 $ 120 $ 302 Research and development 1,171 3,512 3,737 Total operating expenses 1,257 3,632 4,039 Loss from operations and net loss $ (1,257 ) $ (3,632 ) $ (4,039 )
Summary of unaudited balance sheet of AMSO, LLC	Assets Cash and cash equivalents $ 750 Receivable from Total 3,000 Other current assets 128 Other assets 860 Total assets $ 4,738 Liabilities and member’s interest Current liabilities $ 518 Asset retirement obligations 2,535 Other liabilities 981 Member’s interest 704 Total liabilities and member’s interest $ 4,738
Summary of revenue, net (loss) income from operations of AMSO, LLC	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Revenue $ — $ — $ — $ — Loss from operations and net loss $ (55 ) $ — $ (207 ) $ — Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Revenue $ 57,153 $ 52,988 $ 160,593 $ 168,481 Net (loss) income $ (37,174 ) $ 1,502 $ (34,315 ) $ (8,435 )
Summary change in the balance of the AMSO, LLC retirement obligations	(in thousands) Liability at April 30, 2016 acquisition date $ 2,535 Adjustments (35 ) Payments (1,536 ) Balance, September 30, 2016 $ 964

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Summary of changes in the components of equity	Nine Months Ended Attributable Noncontrolling Total (in thousands) Balance, December 31, 2015 $ 123,377 $ (8,680 ) $ 114,697 Dividends on preferred stock (1,111 ) — (1,111 ) Dividends on common stock ($0.18 per share) (4,436 ) — (4,436 ) Subsidiary equity grant reclassified to liability (1,689 ) — (1,689 ) Restricted Class B common stock repurchased from employees (29 ) — (29 ) Stock-based compensation 3,497 — 3,497 Comprehensive loss: Net loss (23,707 ) (7,198 ) (30,905 ) Foreign currency translation adjustments 1,384 5 1,389 Comprehensive loss (22,323 ) (7,193 ) (29,516 ) Balance, September 30, 2016 $ 97,286 $ (15,873 ) $ 81,413
Schedule of net income (loss) related to CCE and aggregate net funding	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Net income (loss) $ 841 $ 49 $ (885 ) $ (24 ) Aggregate funding repaid to (provided by) the Company, net $ 617 $ 28 $ (381 ) $ 869
Summarized combined balance sheet amounts related to CCE	September 30, December 31, (in thousands) Assets Cash and cash equivalents $ 116 $ 48 Restricted cash 5 25 Trade accounts receivable 747 844 Prepaid expenses 459 479 Other current assets 19 51 Other assets 448 468 Total assets $ 1,794 $ 1,915 Liabilities and noncontrolling interests Current liabilities $ 650 $ 267 Due to IDT Energy 808 427 Noncontrolling interests 336 1,221 Total liabilities and noncontrolling interests $ 1,794 $ 1,915

(Loss) Earnings Per Share (Tabl

(Loss) Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
(Loss) Earnings Per Share [Abstract]
Schedule of weighted-average number of shares used in the calculation of basic and diluted (loss) earnings per share	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Basic weighted-average number of shares 22,813 22,146 22,800 22,126 Effect of dilutive securities: Stock options — 57 — — Non-vested restricted Class B common stock — 1,419 — — Diluted weighted-average number of shares 22,813 23,622 22,800 22,126
Schedule of antidilutive shares excluded from computation of earnings per share	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Stock options 414 — 414 415 Non-vested restricted Class B common stock 1,829 — 1,829 2,459 Shares excluded from the calculation of diluted earnings per share 2,243 — 2,243 2,874

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Summary of related party transactions	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Amount IDT charged the Company $ 406 $ 521 $ 1,342 $ 1,627 Amount the Company charged IDT $ 151 $ 142 $ 425 $ 401

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Business Segment Information [Abstract]
Summary of operating results for the business segments	(in thousands) GRE Afek GOGAS Corporate Total Three Months Ended September 30, 2016 Revenues $ 57,153 $ — $ — $ — $ 57,153 Income (loss) from operations 7,893 (42,666 ) (148 ) (2,181 ) (37,102 ) Exploration — 1,323 — — 1,323 Write-off of capitalized exploration costs — 41,041 — — 41,041 Three Months Ended September 30, 2015 Revenues $ 52,988 $ — $ — $ — $ 52,988 Income (loss) from operations 7,934 (1,842 ) (729 ) (2,114 ) 3,249 Research and development — 11 395 — 406 Exploration — 1,531 — — 1,531 Equity in the net loss of AMSO, LLC — — 133 — 133 Nine Months Ended September 30, 2016 Revenues $ 160,593 $ — $ — $ — $ 160,593 Income (loss) from operations 23,760 (46,281 ) 221 (6,868 ) (29,168 ) Research and development — — 210 — 210 Exploration — 4,439 — — 4,439 Write-off of capitalized exploration costs — 41,041 — — 41,041 Gain on consolidation of AMSO, LLC — — 1,262 — 1,262 Equity in the net loss of AMSO, LLC — — 222 — 222 Nine Months Ended September 30, 2015 Revenues $ 168,481 $ — $ — $ — $ 168,481 Income (loss) from operations 10,201 (5,050 ) (2,423 ) (6,814 ) (4,086 ) Research and development — 63 1,599 — 1,662 Exploration — 4,390 — — 4,390 Equity in the net loss of AMSO, LLC — — 133 — 133
Summary of total assets for the business segments	(in thousands) GRE Afek GOGAS Corporate Total Total assets: September 30, 2016 $ 79,025 $ 7,342 $ 14,553 $ 17,048 $ 117,968 December 31, 2015 80,177 38,665 $ 17,770 19,203 155,815

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended				9 Months Ended
	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2016
Basis of Presentation (Textual)
Percentage of gas revenue generated in given period		64.00%		59.00%
Percentage of electricity revenue generated in given period	30.00%		20.00%	45.00%
Genie Energy International Corporation [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary					99.30%
Genie Retail Energy [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary					100.00%
Ownership interest of company					2.60%
Genie Oil and Gas, Inc [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary					92.00%
Afek [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary					86.20%
Genie Mongolia [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary					88.30%
Israel Energy Initiatives, Ltd. [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary					86.10%
AMSO [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary					98.30%

Revised Financial Statements (D

Revised Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Electricity revenues	$ 55,057			$ 50,137	$ 138,494	$ 132,814
Cost of revenues	36,946			31,760	98,223	117,366
Gross profit	20,207			21,228	62,370	51,115
Net income	(37,174)			2,626	(30,905)	(4,529)
Net income attributable to Genie Energy, Ltd	(32,139)			2,845	(23,707)	(3,662)
Comprehensive income	(36,192)			2,014	(29,516)	(4,579)
Comprehensive income attributable to Genie Energy, Ltd	$ (31,157)			$ 2,222	$ (22,323)	$ (3,714)
Earnings per share attributable to Genie Energy, Ltd. common stockholders:
Basic	$ (1.43)			$ 0.11	$ (1.09)	$ (0.22)
Diluted	$ (1.43)			$ 0.10	$ (1.09)	$ (0.22)
Previously Reported [Member]
Electricity revenues		$ 37,728	$ 44,385
Cost of revenues		25,171	33,274
Gross profit		18,806	24,864
Net income		2,108	5,667
Net income attributable to Genie Energy, Ltd		3,452	6,486
Comprehensive income		1,258	6,924
Comprehensive income attributable to Genie Energy, Ltd		$ 2,593	$ 7,746
Earnings per share attributable to Genie Energy, Ltd. common stockholders:
Basic		$ 0.14	$ 0.27
Diluted		$ 0.13	$ 0.26
Prepaid Expense Error Correction [Member]
Electricity revenues
Cost of revenues		691	817
Gross profit		(691)	(817)
Net income		(691)	(817)
Net income attributable to Genie Energy, Ltd		(691)	(817)
Comprehensive income		(691)	(817)
Comprehensive income attributable to Genie Energy, Ltd		$ (691)	$ (817)
Earnings per share attributable to Genie Energy, Ltd. common stockholders:
Basic		$ (0.04)	$ (0.04)
Diluted		$ (0.03)	$ (0.04)
Gross Receipts Tax Correction [Member]
Electricity revenues		$ 584	$ 741
Cost of revenues		584	741
Gross profit
Net income
Net income attributable to Genie Energy, Ltd
Comprehensive income
Comprehensive income attributable to Genie Energy, Ltd
Earnings per share attributable to Genie Energy, Ltd. common stockholders:
Basic
Diluted
Revised [Member]
Electricity revenues		$ 38,312	$ 45,126
Cost of revenues		26,446	34,832
Gross profit		18,115	24,047
Net income		1,417	4,850
Net income attributable to Genie Energy, Ltd		2,761	5,669
Comprehensive income		567	6,107
Comprehensive income attributable to Genie Energy, Ltd		$ 1,902	$ 6,929
Earnings per share attributable to Genie Energy, Ltd. common stockholders:
Basic		$ 0.10	$ 0.23
Diluted		$ 0.10	$ 0.22

Revised Financial Statements 32

Revised Financial Statements (Details Textual) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2015
Financing Fees [Member]
Revised Financial Statements (Textual)
Quantifying misstatement amount			$ 0.6	$ 1.9
Gross Receipts Tax [Member]
Revised Financial Statements (Textual)
Quantifying misstatement amount	$ 0.6	$ 0.7	$ 0.8	$ 2.3
Prepaid Expense [Member]
Revised Financial Statements (Textual)
Quantifying misstatement amount	$ 0.7	$ 0.8

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring [Member] - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Assets:
Derivative contracts		$ 2,465	$ 1,681
Liabilities:
Derivative contracts		1,142	2,192
Level 1 (1) [Member]
Assets:
Derivative contracts	[1]	314	373
Liabilities:
Derivative contracts	[1]	114	609
Level 2 (2) [Member]
Assets:
Derivative contracts	[2]	2,151	1,308
Liabilities:
Derivative contracts	[2]	1,028	1,583
Level 3 (3) [Member]
Assets:
Derivative contracts	[3]
Liabilities:
Derivative contracts	[3]
[1]	quoted prices in active markets for identical assets or liabilities
[2]	observable inputs other than quoted prices in active markets for identical assets and liabilities
[3]	no observable pricing inputs in the market

Fair Value Measurements (Deta34

Fair Value Measurements (Details Textual) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Fair Value Measurements (Textual)
Financial instrument included in other assets	$ 1	$ 1.5

Derivative Instruments (Details

Derivative Instruments (Details)	9 Months Ended
	Sep. 30, 2016
Electricity [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	November 2,016
Volume	157,920 MWh
Electricity 1 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	December 2,016
Volume	164,524 MWh
Electricity 2 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	January 2,017
Volume	504,000 MWh
Electricity 3 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	February 2,017
Volume	480,000 MWh
Electricity 4 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	March 2,017
Volume	73,600 MWh
Electricity 5 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	July 2,017
Volume	70,400 MWh
Electricity 6 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	August 2,017
Volume	80,960 MWh
Electricity 7 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	October 2,017
Volume	88,000 MWh
Electricity 8 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	November 2,017
Volume	84,000 MWh
Electricity 9 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	December 2,017
Volume	80,000 MWh
Natural Gas [Member]
Summarized volume of GRE's outstanding
Commodity	Natural gas
Settlement Dates	November 2,016
Volume	600,000 Dth
Natural Gas 1 [Member]
Summarized volume of GRE's outstanding
Commodity	Natural gas
Settlement Dates	February 2,017
Volume	800,000 Dth
Natural Gas 2 [Member]
Summarized volume of GRE's outstanding
Commodity	Natural gas
Settlement Dates	March 2,017
Volume	1,200,000 Dth
Natural Gas 3 [Member]
Summarized volume of GRE's outstanding
Commodity	Natural gas
Settlement Dates	April 2,017
Volume	300,000 Dth
Natural Gas 4 [Member]
Summarized volume of GRE's outstanding
Commodity	Natural gas
Settlement Dates	February 2,018
Volume	66,500 Dth

Derivative Instruments (Detai36

Derivative Instruments (Details 1) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of fair value of outstanding derivative instruments recorded as assets and liability
Liability Derivatives, not designated or not qualifying as hedging instruments	$ 1,142	$ 2,192
Energy contracts and options [Member] | Other current assets [Member]
Schedule of fair value of outstanding derivative instruments recorded as assets and liability
Asset Derivatives, not designated or not qualifying as hedging instruments	2,465	1,681
Energy contracts and options [Member] | Energy hedging contracts [Member]
Schedule of fair value of outstanding derivative instruments recorded as assets and liability
Liability Derivatives, not designated or not qualifying as hedging instruments	$ 1,142	$ 2,192

Derivative Instruments (Detai37

Derivative Instruments (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Energy contracts and options [Member] | Cost of revenues [Member]
Effects of derivative instruments on the consolidated statements of operations
Amount of Gain (Loss) Recognized on Derivatives	$ (1,183)	$ (427)	$ (381)	$ (1,516)

Afek Oil and Gas Exploration 38

Afek Oil and Gas Exploration Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Afek Oil and Gas Exploration Activities (Textual)
Exploration costs	$ 1,323	$ 1,531	$ 4,439	$ 4,390
Capitalized exploration costs had been capitalized for a period greater than one year	$ 41,041		$ 41,041

Investment in American Shale 39

Investment in American Shale Oil, LLC (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Summary of change in balance of company's investment in AMSO, LLC
Balance, beginning of period			$ (399)	$ (252)
Capital contributions			63	125
Equity in the net loss of AMSO, LLC		$ (133)	(222)	(133)
Elimination of the investment in AMSO, LLC			558
Balance, end of period		$ (260)		$ (260)

Investment in American Shale 40

Investment in American Shale Oil, LLC (Details 1) - AMSO, LLC [Member] - USD ($) $ in Thousands	3 Months Ended	4 Months Ended	9 Months Ended
	Sep. 30, 2015	Apr. 30, 2016	Sep. 30, 2015
Operating expenses:
General and administrative	$ 86	$ 120	$ 302
Research and development	1,171	3,512	3,737
Total operating expenses	1,257	3,632	4,039
Loss from operations and net loss	$ (1,257)	$ (3,632)	$ (4,039)

Investment in American Shale 41

Investment in American Shale Oil, LLC (Details 2) - AMSO, LLC [Member] $ in Thousands	Apr. 30, 2016USD ($)
Assets
Cash and cash equivalents	$ 750
Receivable from Total	3,000
Other current assets	128
Other assets	860
Total assets	4,738
Liabilities and member's interest
Current liabilities	518
Asset retirement obligations	2,535
Other liabilities	981
Member's interest	704
Total liabilities and member's interest	$ 4,738

Investment in American Shale 42

Investment in American Shale Oil, LLC (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Summary of revenue, net (loss) income from operations of AMSO, LLC
Revenue
Loss from operations and net loss	(55)		(207)
Revenue	57,153	52,988	160,593	168,481
Net (loss) income	$ (37,174)	$ 1,502	$ (34,315)	$ (8,435)

Investment in American Shale 43

Investment in American Shale Oil, LLC (Details 4) - AMSO, LLC [Member] $ in Thousands	5 Months Ended
	Sep. 30, 2016USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Liability at April 30, 2016 acquisition date	$ 2,535
Adjustments	(35)
Payments	(1,536)
Balance, September 30, 2016	$ 964

Investment in American Shale 44

Investment in American Shale Oil, LLC (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Apr. 02, 2016
Investment in American Shale Oil, LLC(Textual)
Gain on consolidation of AMSO, LLC			$ 1,262
Decommissioning liability settlement amount not refundable					$ 3,000

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 114,697
Dividends on preferred stock			(1,111)
Dividends on common stock ($0.18 per share)			(4,436)
Subsidiary equity grant reclassified to liability			(1,689)
Restricted Class B common stock repurchased from employees			(29)
Stock-based compensation			3,497
Comprehensive loss:
Net loss	$ (37,174)	$ 2,626	(30,905)	(4,529)
Foreign currency translation adjustments	982	(612)	1,389	(50)
Comprehensive loss	(36,192)	$ 2,014	(29,516)	$ (4,579)
Ending Balance	81,413		81,413
Attributable to Genie [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			123,377
Dividends on preferred stock			(1,111)
Dividends on common stock ($0.18 per share)			(4,436)
Subsidiary equity grant reclassified to liability			(1,689)
Restricted Class B common stock repurchased from employees			(29)
Stock-based compensation			3,497
Comprehensive loss:
Net loss			(23,707)
Foreign currency translation adjustments			1,384
Comprehensive loss			(22,323)
Ending Balance	97,286		97,286
Noncontrolling Interests [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			(8,680)
Dividends on preferred stock
Dividends on common stock ($0.18 per share)
Subsidiary equity grant reclassified to liability
Restricted Class B common stock repurchased from employees
Stock-based compensation
Comprehensive loss:
Net loss			(7,198)
Foreign currency translation adjustments			5
Comprehensive loss			(7,193)
Ending Balance	$ (15,873)		$ (15,873)

Equity (Details 1)

Equity (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Equity [Abstract]
Net income (loss)	$ 841	$ 49	$ (885)	$ (24)
Aggregate funding repaid to (provided by) the Company, net	$ 617	$ 28	$ (381)	$ 869

Equity (Details 2)

Equity (Details 2) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Summarized combined balance sheet amounts related to CCE
Total assets	$ 1,794	$ 1,915
Total liabilities and noncontrolling interests	1,794	1,915
Cash and cash equivalents [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	116	48
Restricted cash [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	5	25
Trade accounts receivable [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	747	844
Prepaid expenses [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	459	479
Other current assets [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	19	51
Other assets [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	448	468
Current liabilities [Member]
Summarized combined balance sheet amounts related to CCE
Total liabilities and noncontrolling interests	650	267
Due to IDT Energy [Member]
Summarized combined balance sheet amounts related to CCE
Total liabilities and noncontrolling interests	808	427
Noncontrolling Interests [Member]
Summarized combined balance sheet amounts related to CCE
Total liabilities and noncontrolling interests	$ 336	$ 1,221

Equity (Details Textual)

Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions

Oct. 14, 2016

Aug. 15, 2016

Feb. 16, 2016

Feb. 12, 2016

Nov. 30, 2016

Aug. 31, 2016

Aug. 26, 2016

May 20, 2016

May 16, 2016

Oct. 31, 2015

May 22, 2015

Sep. 30, 2016

Sep. 30, 2015

Mar. 31, 2015

Sep. 30, 2016

Sep. 30, 2015

Mar. 11, 2013

Equity (Textual)

Preferred stock dividend declared

$ 1,111

Remaining number of shares available for repurchase

6.9

6.9

Loan amount

$ 617

$ 28

$ (381)

$ 869

Payment of cash to satisfy its obligation to issue common stock

(1,689)

GRE [Member]

Equity (Textual)

Payment of cash to satisfy its obligation to issue common stock

$ 1,700

Preferred Stock [Member]

Equity (Textual)

Preferred stock dividend rate

$ 0.1594

$ 0.1594

$ 0.1594

Preferred stock dividend declared

1,100

1,100

Preferred Stock [Member] | Subsequent Event [Member]

Equity (Textual)

Dividend declared, date to be paid

Nov. 15, 2016

Dividend declared, record date

Oct. 28, 2016

Preferred Stock [Member] | Board of Directors [Member] | Subsequent Event [Member]

Equity (Textual)

Quarterly base dividend declared

$ 0.1594

Common Stock [Member]

Equity (Textual)

Dividend paid

$ 4,400

$ 3,000

Common Class A [Member]

Equity (Textual)

Dividends declared per common share

$ 0.06

$ 0.06

$ 0.06

$ 0.06

$ 0.06

Common Class A [Member] | Subsequent Event [Member]

Equity (Textual)

Dividend declared, date to be paid

Dec. 2, 2016

Dividend declared, record date

Nov. 21, 2016

Common Class A [Member] | Board of Directors [Member] | Subsequent Event [Member]

Equity (Textual)

Dividends declared per common share

$ 0.06

Common Class B [Member]

Equity (Textual)

Dividends declared per common share

$ 0.06

$ 0.06

$ 0.06

$ 0.06

$ 0.06

Stock repurchase, shares

7

Common Class B [Member] | Subsequent Event [Member]

Equity (Textual)

Dividend declared, date to be paid

Dec. 2, 2016

Dividend declared, record date

Nov. 21, 2016

Common Class B [Member] | Board of Directors [Member] | Subsequent Event [Member]

Equity (Textual)

Dividends declared per common share

$ 0.06

CCE [Member]

Equity (Textual)

Payment to owner of limited liability company

$ 200

Loan amount

$ 500

Variable interest entity, description

GRE paid $0.2 million to the owner of the limited liability company interests in CCE, and loaned CCE $0.5 million in exchange for an option to purchase 100% of the issued and outstanding limited liability company interests of CCE for one dollar plus the forgiveness of the $0.5 million loan.

Forgiveness of loan

$ 500

Options expiration date

Oct. 22, 2023

(Loss) Earnings Per Share (Deta

(Loss) Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
(Loss) Earnings Per Share [Abstract]
Basic weighted-average number of shares	22,813,000	22,146,000	22,800,000	22,126,000
Effect of dilutive securities:
Stock options		57
Non-vested restricted Class B common stock		1,419
Diluted weighted-average number of shares	22,813,000	23,622,000	22,800,000	22,126,000

(Loss) Earnings Per Share (De50

(Loss) Earnings Per Share (Details 1) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of antidilutive shares excluded from computation of earnings per share
Shares excluded from the calculation of diluted earnings per share	2,243		2,243	2,874
Stock options [Member]
Schedule of antidilutive shares excluded from computation of earnings per share
Shares excluded from the calculation of diluted earnings per share	414		414	415
Non-vested restricted Class B common stock [Member]
Schedule of antidilutive shares excluded from computation of earnings per share
Shares excluded from the calculation of diluted earnings per share	1,829		1,829	2,459

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Summary of related party transactions
Amount IDT charged the Company	$ 406	$ 521	$ 1,342	$ 1,627
Amount the Company charged IDT	$ 151	$ 142	$ 425	$ 401

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Operating results for the business segments
Revenues	$ 57,153	$ 52,988	$ 160,593	$ 168,481
Income (loss) from operations	(37,102)	3,249	(29,168)	(4,086)
Research and development		406	210	1,662
Exploration	1,323	1,531	4,439	4,390
Write-off of capitalized exploration costs	41,041		41,041
Gain on consolidation of AMSO, LLC			1,262
Equity in the net loss of AMSO, LLC		133	222	133
GRE [Member]
Operating results for the business segments
Revenues	57,153	52,988	160,593	168,481
Income (loss) from operations	7,893	7,934	23,760	10,201
Research and development
Exploration
Write-off of capitalized exploration costs
Gain on consolidation of AMSO, LLC
Equity in the net loss of AMSO, LLC
Afek [Member]
Operating results for the business segments
Revenues
Income (loss) from operations	(42,666)	(1,842)	(46,281)	(5,050)
Research and development		11		63
Exploration	1,323	1,531	4,439	4,390
Write-off of capitalized exploration costs	41,041		41,041
Gain on consolidation of AMSO, LLC
Equity in the net loss of AMSO, LLC
GOGAS [Member]
Operating results for the business segments
Revenues
Income (loss) from operations	(148)	(729)	221	(2,423)
Research and development		395	210	1,599
Exploration
Write-off of capitalized exploration costs
Gain on consolidation of AMSO, LLC			1,262
Equity in the net loss of AMSO, LLC		133	222	133
Corporate [Member]
Operating results for the business segments
Revenues
Income (loss) from operations	(2,181)	(2,114)	(6,868)	(6,814)
Research and development
Exploration
Write-off of capitalized exploration costs
Gain on consolidation of AMSO, LLC
Equity in the net loss of AMSO, LLC

Business Segment Information 53

Business Segment Information (Details 1) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Summary total assets for the business segments
Total assets	$ 117,968	$ 155,815
GRE [Member]
Summary total assets for the business segments
Total assets	79,025	80,177
Afek [Member]
Summary total assets for the business segments
Total assets	7,342	38,665
GOGAS [Member]
Summary total assets for the business segments
Total assets	14,553	17,770
Corporate [Member]
Summary total assets for the business segments
Total assets	$ 17,048	$ 19,203

Business Segment Information 54

Business Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2016Segment
Business Segment Information (Textual)
Number of reportable segments	3
GEIC [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	99.30%
GRE [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	100.00%
Ownership interest of company	2.60%
GOGAS [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	92.00%
Genie Mongolia [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	88.30%
AMSO [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	98.30%
IEI [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	86.10%
Afek Oil and Gas Ltd [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	86.20%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Jul. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Commitments and Contingencies (Textual)
Proposed regulatory matter potential requirements, Description		The PSC's order, which were to become effective March 4, 2016, would require that all REPs' electricity and natural gas offerings to residential and small business customers include an annual guarantee of savings compared to the price charged by the relevant incumbent utility or, for electricity offerings, provide at least 30% of the supply from renewable sources.
Line of credit facility, amount outstanding		$ 8.2	$ 7.7
Letters of credit expire in twelve months ending September 30, 2017		6.5
letters of credit expire in twelve months ending September 30, 2018		1.7
Additional refunds to customers	$ 2.4
Purchase and other commitments		$ 16.5
Line of credit facility expiration, Description		The Company had letters of credit outstanding totaling $8.2 million primarily for the benefit of regional transmission organizations that coordinate the movement of wholesale electricity and for certain utility companies. The letters of credit outstanding at September 30, 2016 expire as follows: $6.5 million in the twelve months ending September 30, 2017 and $1.7 million in the twelve months ending September 30, 2018.
Purchase commitment description		The Company had purchase commitments of $16.5 million at September 30, 2016. The purchase commitments outstanding at September 30, 2016 are expected to be paid as follows: $12.1 million in the twelve months ending September 30, 2017, $3.3 million in the twelve months ending September 30, 2018 and $1.1 million in the twelve months ending September 30, 2019.
Purchase commitment due in September 30, 2017		$ 12.1
Purchase commitment due in September 30, 2018		3.3
Purchase commitment due in September 30, 2019		1.1
Genie Retail Energy [Member]
Commitments and Contingencies (Textual)
Aggregate performance bond outstanding		7.4
Purchase of renewable energy credit		42.1
BP [Member]
Commitments and Contingencies (Textual)
Payment of trade accounts payable to BP Energy		$ 8.7
Agreement termination, Description		The agreement's termination date is November 30, 2019, except either party may terminate the agreement on November 30, 2018 by giving the other party notice by May 31, 2018.
Trade Accounts Receivable [Member]
Commitments and Contingencies (Textual)
Assets pledged as collateral to BP Energy		$ 33.1
Restricted Cash [Member]
Commitments and Contingencies (Textual)
Assets pledged as collateral to BP Energy		$ 0.2

Revolving Lines of Credit (Deta

Revolving Lines of Credit (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 17, 2015	Apr. 23, 2012
Revolving Lines of Credit (Textual)
Revolving loan facility			$ 2,000
Repayments of revolving loan facility	1,800
Gain from revolving loan facility	200
Line of credit facility, amount outstanding	8,200		$ 7,700
GRE [Member]
Revolving Lines of Credit (Textual)
Revolving loan facility				$ 2,000
Gain from revolving loan facility	$ 200
JPMorgan [Member]
Revolving Lines of Credit (Textual)
Maximum principal amount on revolving line of credit					$ 25,000
Description of line of credit collateral	Equal to the greater of (a) $10.0 million or (b) the sum of the amount of letters of credit outstanding plus the outstanding principal under the revolving note.
Maximum amount of collateral under condition one	$ 10,000
Interest rate on principal outstanding, description	Lesser of (a) the LIBOR rate multiplied by the statutory reserve rate established by the Board of Governors of the Federal Reserve System plus 1.0% per annum, or (b) the maximum rate per annum permitted by whichever of applicable federal or Texas laws permit the higher interest rate.
Quoted margin rate on LIBOR, per annum	1.00%
Maturity date	May 31, 2017
Quarterly unused commitment fee	0.08%
Line of credit facility, frequency of payment and payment terms	Interest is payable at least every three months
Cash collateral for line of credit	$ 10,000

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event [Member] $ in Millions	Nov. 02, 2016USD ($)
Subsequent Event (Textual)
Aggregate cash payment	$ 10.9
Electricity residential customer description	REH operates as Town Square Energy in eight Eastern states, serving approximately 47,000 electricity residential customer equivalents.
Member Interest [Member]
Subsequent Event (Textual)
Aggregate cash payment	$ 9.5
Working Capital [Member]
Subsequent Event (Textual)
Acquire of other payments	$ 1.4