Genie Energy (GNE) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 07, 2017
Entity Registrant Name	Genie Energy Ltd.
Entity Central Index Key	1,528,356
Trading Symbol	GNE
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
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		23,270,088

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 29,390	$ 35,192
Restricted cash-short-term	206	10,813
Trade accounts receivable, net of allowance for doubtful accounts of $730 and $171 at September 30, 2017 and December 31, 2016, respectively	34,699	36,858
Inventory	4,861	5,989
Prepaid expenses	7,249	4,026
Other current assets	3,790	4,932
Total current assets	80,195	97,810
Property and equipment, net	4,194	1,617
Capitalized exploration costs-unproved oil and gas property	5,741
Goodwill	9,998	8,728
Other intangibles, net	5,202	4,277
Investment in joint venture	1,116
Restricted cash-long-term	1,491	1,047
Deferred income tax assets, net	2,324	1,781
Other assets	9,949	6,553
Total assets	120,210	121,813
Current liabilities:
Revolving line of credit		711
Trade accounts payable	15,341	17,274
Accrued expenses	27,322	16,301
Income taxes payable	1,105	2,426
Due to IDT Corporation	193	141
Other current liabilities	3,256	4,292
Total current liabilities	47,217	41,145
Revolving line of credit	2,512
Other liabilities	1,218	803
Total liabilities	50,947	41,948
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, 2017 and December 31, 2016	19,743	19,743
Additional paid-in capital	131,778	128,243
Treasury stock, at cost, consisting of 331 shares and 201 shares of Class B common stock at September 30, 2017 and December 31, 2016, respectively	(2,428)	(1,599)
Accumulated other comprehensive income	2,813	1,465
Accumulated deficit	(65,449)	(51,567)
Total Genie Energy Ltd. Stockholders' equity	86,709	96,534
Noncontrolling interests:
Noncontrolling interests	(15,779)	(15,002)
Receivable for issuance of equity	(1,667)	(1,667)
Total noncontrolling interests	(17,446)	(16,669)
Total equity	69,263	79,865
Total liabilities and equity	120,210	121,813
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	$ 236	$ 233

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Allowance for doubtful accounts, trade accounts receivable (in dollars)	$ 730	$ 171
Series 2012-A Preferred Stock
Designated shares	8,750	8,750
Preferred stock, par value (In dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000	10,000
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	23,601	23,274
Common stock, shares outstanding	23,270	23,073
Treasury stock, shares	331	201

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Electricity		$ 66,189	$ 55,057	$ 163,636	$ 138,494
Natural gas		2,787	1,766	26,045	20,913
Other		497	330	1,445	1,186
Total revenues		69,473	57,153	191,126	160,593
Cost of revenues		(47,694)	(36,946)	(132,371)	(98,223)
Gross profit		21,779	20,207	58,755	62,370
Operating expenses, (gains) and losses:
Selling, general and administrative (i)	[1]	19,464	14,945	63,008	46,888
Research and development					210
Exploration		753	1,323	2,556	4,439
Gain on consolidation of AMSO, LLC					(1,262)
Equity in the net loss of joint ventures		159		159	222
Write-off of capitalized exploration costs			41,041		41,041
Income (loss) from operations		1,403	(37,102)	(6,968)	(29,168)
Interest income		51	70	207	257
Other (expense) income, net		(58)	333	(620)	171
Income (loss) before income taxes		1,396	(36,699)	(7,381)	(28,740)
Provision for income taxes		(421)	(475)	(453)	(2,165)
Net income (loss)		975	(37,174)	(7,834)	(30,905)
Net (income) loss attributable to noncontrolling interests		(197)	5,035	626	7,198
Net income (loss) attributable to Genie Energy Ltd.		778	(32,139)	(7,208)	(23,707)
Dividends on preferred stock		(370)	(370)	(1,111)	(1,111)
Net income (loss) attributable to Genie Energy Ltd. common stockholders.		$ 408	$ (32,509)	$ (8,319)	$ (24,818)
Earnings (loss) per share attributable to Genie Energy Ltd. common stockholders:
Basic		$ 0.02	$ (1.43)	$ (0.35)	$ (1.09)
Diluted		$ 0.02	$ (1.43)	$ (0.35)	$ (1.09)
Weighted-average number of shares used in calculation of earnings (loss) per share:
Basic		23,567	22,813	23,495	22,800
Diluted		24,158	22,813	23,495	22,800
Dividends declared per common share		$ 0.075	$ 0.06	$ 0.225	$ 0.18
[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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statements of Operations [Abstract]
Stock-based compensation included in selling, general and administrative expenses	$ 1,411	$ 1,161	$ 3,796	$ 3,497

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statements of Comprehensive Income [Abstract]
Net income (loss)	$ 975	$ (37,174)	$ (7,834)	$ (30,905)
Other comprehensive (loss) income:
Foreign currency translation adjustments	(119)	982	763	1,389
Comprehensive income (loss)	856	(36,192)	(7,071)	(29,516)
Comprehensive (income) loss attributable to noncontrolling interests	(50)	5,035	1,211	7,193
Comprehensive income (loss) attributable to Genie Energy Ltd.	$ 806	$ (31,157)	$ (5,860)	$ (22,323)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities
Net loss	$ (7,834)	$ (30,905)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,528	294
Provision for doubtful accounts receivable	392	5
Deferred income taxes	(543)
Stock-based compensation	3,796	3,497
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 joint ventures	159	222
Change in assets and liabilities, net of effect of acquisition:
Restricted cash	181	1,295
Trade accounts receivable	2,275	(5,904)
Inventory	1,128	4,599
Prepaid expenses	(3,150)	3,996
Other current assets and other assets	(2,127)	2,941
Trade accounts payable, accrued expenses and other current liabilities	8,840	(9,105)
Due to IDT Corporation	52	(378)
Income taxes payable	(1,320)	1,445
Net cash provided by operating activities	3,377	11,606
Investing activities
Capital expenditures	(3,248)	(449)
Investments in capitalized exploration costs-unproved oil and gas property	(5,531)	(12,884)
Acquisition, net of cash acquired	(3,717)
Investment in joint venture	(1,275)
Repayment of notes receivable	446	50
Proceeds from disposal of property		27
Purchase of certificates of deposit		(2,974)
Proceeds from maturities of certificates of deposit		11,900
Cash acquired from consolidation of AMSO, LLC		702
Capital contribution to AMSO, LLC received from Total		3,000
Capital contributions to AMSO, LLC		(63)
Net cash used in investing activities	(13,325)	(691)
Financing activities
Dividends paid	(6,674)	(5,547)
Purchases of equity of subsidiary	(312)
Proceeds from revolving line of credit	14,450
Repayment of revolving line of credit	(12,655)	(1,800)
Decrease in restricted cash	10,000
Exercise of stock options	109
Repurchases of Class B common stock from employees	(829)	(29)
Payment for acquisitions		(227)
Net cash provided by (used in) financing activities	4,089	(7,603)
Effect of exchange rate changes on cash and cash equivalents	57	203
Net (decrease) increase in cash and cash equivalents	(5,802)	3,515
Cash and cash equivalents at beginning of period	35,192	38,786
Cash and cash equivalents at end of period	29,390	42,301
Supplemental Schedule of Non-Cash Investing and Financing Activities
Liability incurred for acquisition	151
Class B common stock issued for GRE deferred stock units	1,845
Subsidiary equity grant reclassified to liability		1,689
Net assets excluding cash and cash equivalents of AMSO, LLC acquired		$ 560

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
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, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. The balance sheet at December 31, 2016 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, 2016, 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 operates retail energy providers (“REPs”), including IDT Energy, Inc. (“IDT Energy”), Residents Energy, Inc. (“Residents Energy”), Town Square Energy, and Mirabito Natural Gas (“Mirabito”) (see Note 2), 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 85.9% interest in Afek Oil and Gas, Ltd. (“Afek”), which operates an exploration project in the Golan Heights in Northern Israel, and certain inactive projects. GRE has outstanding deferred stock units granted to officers and employees that represent an aggregate interest of 1.25% 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 43% and 64% of GRE’s natural gas revenues for the relevant years were generated in the first quarter of 2016 and 2015, 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 31% and 29% of GRE’s electricity revenues for the relevant years were generated in the third quarter of 2016 and 2015, respectively. 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.

Acquisition of Mirabito Natural

Acquisition of Mirabito Natural Gas	9 Months Ended
	Sep. 30, 2017
Acquisition of Mirabito Natural Gas [Abstract]
Acquisition of Mirabito Natural Gas	Note 2—Acquisition of Mirabito Natural Gas On August 10, 2017, GRE acquired Mirabito Natural Gas, a Ft. Lauderdale, Florida-based natural gas supplier, from Angus Partners, LLC (“Angus”) for an aggregate cash payment of $3.9 million. Mirabito serves commercial and government customers throughout Florida. Mirabito’s operating results from the date of acquisition, which were not significant, are included in the Company’s consolidated financial statements. Also on August 10, 2017, GRE and Angus entered into a Management Agreement pursuant to which Angus will provide any and all functions required to run and operate Mirabito. The Management Agreement terminates in August 2021, unless otherwise terminated by GRE for failure to achieve the business profit thresholds contained in the Management Agreement. Angus will receive an annual management fee from GRE equal to the greater of 30% of the business profits of Mirabito, as defined, or $250,000. The impact of the acquisition’s preliminary purchase price allocations on the Company’s consolidated balance sheet and the acquisition date fair value of the total consideration transferred were as follows (in thousands): Trade accounts receivable $ 509 Prepaid expenses 60 Non-compete agreement 5 Customer relationships 1,100 Patents and trademarks 760 Goodwill 1,270 Other assets 465 Trade accounts payable (299 ) Accrued expenses (2 ) Net assets excluding cash acquired $ 3,868 Supplemental information: Cash paid $ 3,804 Cash acquired (87 ) Cash paid, net of cash acquired 3,717 Liability for working capital payment 151 Total consideration, net of cash acquired $ 3,868 The goodwill resulting from the acquisition is primarily attributable to the existing workforce of the acquired entities and synergies expected from the combination of GRE and Mirabito’s REP businesses. This goodwill is deductible for income tax purposes. The following table presents unaudited pro forma information of the Company as if the acquisition occurred on January 1, 2016: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Revenues $ 70,038 $ 58,204 $ 194,932 $ 164,308 Net income (loss) $ 957 $ (37,206 ) $ (7,734 ) $ (30,822 )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
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, 2017 Assets: Derivative contracts $ 167 $ 2,525 $ — $ 2,692 Liabilities: Derivative contracts $ 6 $ 1,539 $ — $ 1,545 December 31, 2016 Assets: Derivative contracts $ 256 $ 2,395 $ — $ 2,651 Liabilities: Derivative contracts $ 60 $ 1,667 $ — $ 1,727 (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. 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, prepaid expenses, other current assets, revolving line of credit—current, due to IDT Corporation and other current liabilities. — , Other assets, revolving line of credit—long-term and other liabilities. — —

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2017
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, 2017 and December 31, 2016, 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, 2017 was as follows (MWh – Megawatt hour and Dth – Decatherm): Commodity Settlement Dates Volume Electricity October 2017 31,680 MWh Electricity November 2017 223,440 MWh Electricity December 2017 283,200 MWh Electricity January 2018 397,760 MWh Electricity February 2018 361,600 MWh Electricity March 2018 214,720 MWh Electricity July 2018 159,600 MWh Electricity August 2018 174,800 MWh Electricity October 2018 73,600 MWh Electricity November 2018 67,200 MWh Electricity December 2018 64,000 MWh Natural gas November 2017 1,230,000 Dth Natural gas December 2017 793,000 Dth Natural gas January 2018 155,000 Dth Natural gas February 2018 580,000 Dth The fair value of outstanding derivative instruments recorded in the accompanying consolidated balance sheets were as follows: Asset Derivatives Balance Sheet Location September 30, 2017 December 31, 2016 (in thousands) Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Other current assets $ 2,692 $ 2,651 Liability Derivatives Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Other current liabilities $ 1,545 $ 1,727 The effects of derivative instruments on the consolidated statements of operations were as follows: Amount of Loss Recognized on Derivatives Three Months Ended September 30, Nine Months Ended September 30, Derivatives not designated Location of Gain (Loss) Recognized on Derivatives 2017 2016 2017 2016 (in thousands) Energy contracts and options Cost of revenues $ (763 ) $ (1,183 ) $ (3,482 ) $ (381 )

Afek Oil and Gas Exploration Ac

Afek Oil and Gas Exploration Activities	9 Months Ended
	Sep. 30, 2017
Afek Oil and Gas Exploration Activities [Abstract]
Afek Oil and Gas Exploration Activities	Note 5—Afek Oil and Gas Exploration Activities 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 April 2013, the Government of Israel finalized the award to Afek of an exclusive three-year petroleum exploration license covering 396.5 square kilometers in the southern portion of the Golan Heights in Northern Israel. The license has been extended to April 2018. Israel’s Northern District Planning and Building Committee granted Afek a one-year permit that commenced in February 2015, which has been subsequently extended to April 18, 2018, to conduct an up to ten-well oil and gas exploration program. This permit as extended is expected to cover the remainder of Afek’s ongoing exploration program in the area covered by its exploration license. 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. Based on the analysis of the first five wells and market conditions at the time, in the third quarter of 2016, Afek determined that 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 third quarter of 2016, Afek wrote off the $41.0 million of capitalized exploration costs incurred in the Southern region. 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. In 2017, Afek commenced drilling its sixth exploratory well – the first well in the Northern region of its license area. Afek expects to complete drilling of the well during the fourth quarter of 2017. At September 30, 2017 and December 31, 2016, the Company had capitalized exploration costs of $5.7 million and nil, respectively, related to activities at Afek. In the three months ended September 30, 2017 and 2016, the Company recognized exploration expense of $0.8 million and $1.3 million, respectively, and in the nine months ended September 30, 2017 and 2016, the Company recognized exploration expense of $2.6 million and $4.4 million, respectively. Afek assesses the economic and operational viability of its project on an ongoing basis, and to date believes that sufficient progress is being made in regards to its current project. The assessment requires significant estimates and assumptions by management. Should Afek’s estimates or assumptions regarding the recoverability of its capitalized exploration costs 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 Joint Venture

Investment in Joint Venture	9 Months Ended
	Sep. 30, 2017
Investment in Joint Venture [Abstract]
Investment in Joint Venture	Note 6—Investment in Joint Venture On July 17, 2017, the Company’s subsidiary, Genie Energy UK Ltd. (“GEUK”), entered into a definitive agreement with Energy Global Investments Pty Ltd (“EGC”) to launch Shoreditch Energy Limited (“Shoreditch”), a joint venture that intends to offer electricity and natural gas service to residential and small business customers in the United Kingdom. At September 30, 2017, GEUK had contributed $1.3 million to Shoreditch, and GEUK will contribute an additional aggregate of up to £4.2 million ($5.7 million at September 30, 2017) by August 1, 2018, contingent on Shoreditch’s achievement of performance based milestones. EGC will contribute an aggregate of up to £1.7 million ($2.2 million at September 30, 2017) to Shoreditch by August 1, 2018, contingent on Shoreditch’s achievement of performance based milestones. GEUK owns 65% of the equity of Shoreditch and EGC owns 35% of the equity. Shoreditch is a separate legal entity under the joint control of GEUK and EGC. GEUK and EGC each appoint two members of Shoreditch’s Board of Directors, and jointly control Shoreditch through their participation on the Board, which makes all operating decisions. GEUK therefore accounts for its ownership interest in Shoreditch using the equity method since GEUK has the ability to exercise significant influence over its operating and financial matters, although it does not control Shoreditch. GEUK accounts for the difference between the purchase price of Shoreditch’s equity and its share of the underlying equity in the net assets of Shoreditch as if Shoreditch were a consolidated subsidiary. The difference of $0.5 million was allocated to goodwill. The goodwill relates to EGC’s contribution to Shoreditch of their knowledge, experience and detailed business plan for operating a REP in the United Kingdom. The following table summarizes the change in the balance of GEUK’s investment in Shoreditch in the nine months ended September 30, 2017 (in thousands): Balance, beginning of period $ — Capital contributions 1,275 Equity in the net loss of joint venture (159 ) Balance, end of period $ 1,116 Summarized unaudited statements of operations of Shoreditch are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Operating expenses: Selling, general and administrative $ 244 $ — $ 244 $ — Loss from operations (244 ) — (244 ) — Other income — — — — Net loss $ (244 ) $ — $ (244 ) $ —

Equity

Equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Equity	Note 7—Equity Changes in the components of equity were as follows: Nine Months Ended September 30, 2017 Attributable to Genie Noncontrolling Interests Total (in thousands) Balance, December 31, 2016 $ 96,534 $ (16,669 ) $ 79,865 Dividends on preferred stock (1,111 ) — (1,111 ) Dividends on common stock ($0.225 per share) (5,563 ) — (5,563 ) Exercise of stock options 109 — 109 Restricted Class B common stock purchased from employees (829 ) — (829 ) Purchases of equity of subsidiary (746 ) 434 (312 ) Class B common stock issued for GRE deferred stock units 1,845 — 1,845 Stock-based compensation 2,330 — 2,330 Comprehensive loss: Net loss (7,208 ) (626 ) (7,834 ) Foreign currency translation adjustments 1,348 (585 ) 763 Comprehensive loss (5,860 ) (1,211 ) (7,071 ) Balance, September 30, 2017 $ 86,709 $ (17,446 ) $ 69,263 Dividend Payments In the nine months ended September 30, 2017 and 2016, the Company paid aggregate quarterly Base Dividends of $0.4782 per share on its Series 2012-A Preferred Stock (“Preferred Stock”), or $1.1 million in total. On October 19, 2017, 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 2017. The dividend will be paid on or about November 15, 2017 to stockholders of record as of the close of business on November 1, 2017. In the nine months ended September 30, 2017, the Company paid aggregate quarterly dividends of $0.225 per share on its Class A common stock and Class B common stock, or $5.6 million in total. In the nine months ended September 30, 2016, the Company paid aggregate quarterly dividends of $0.18 per share on its Class A common stock and Class B common stock, or $4.4 million in total. On November 1, 2017, the Company’s Board of Directors declared a quarterly dividend of $0.075 per share on its Class A common stock and Class B common stock for the third quarter of 2017. The dividend will be paid on or about November 17, 2017 to stockholders of record as of the close of business on November 13, 2017. Exercise of Stock Options In the nine months ended September 30, 2017, the Company received proceeds of $0.1 million from the exercise of stock options for which the Company issued 15,855 shares of its Class B common stock. There were no stock option exercises in the nine months ended September 30, 2016. Stock Repurchases 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, 2017 or 2016. At September 30, 2017, 6.9 million shares remained available for repurchase under the stock repurchase program. In the nine months ended September 30, 2017, the Company paid $0.8 million to repurchase 129,898 shares of its Class B common stock. In the nine months ended September 30, 2016, the Company paid $29,000 to repurchase 3,096 shares of its Class B common stock. These shares were tendered by the Company’s employees to satisfy tax withholding obligations in connection with the lapsing of restrictions on awards of restricted stock. Such shares were repurchased by the Company based on their fair market value on the trading day immediately prior to the vesting date. Purchases of Equity of Subsidiary In the nine months ended September 30, 2017, GOGAS purchased from employees of Afek a 1.15% fully vested interest in Afek for $0.3 million in cash. Issuance of 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. In August 2017, the Company issued 287,233 shares of the Company’s Class B common stock in exchange for 26.1 vested deferred stock units of GRE. The aggregate fair value of the shares of the Company’s Class B common stock issued was $1.8 million. Variable Interest Entities 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. The Company does not own any interest in CCE. 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 net income or loss incurred by CCE was attributed to noncontrolling interests in the accompanying consolidated statements of operations. The Company has an option to purchase 100% of the issued and outstanding limited liability company interests of CCE for one dollar plus the forgiveness of $0.5 million that the Company loaned to CCE in October 2015. The option expires on October 22, 2023. Net income (loss) related to CCE and aggregate net funding repaid to (provided by) the Company in order to finance CCE’s operations were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Net income (loss) $ 312 $ 841 $ (21 ) $ (885 ) Aggregate funding repaid to (provided by) the Company, net $ 173 $ 617 $ 202 $ (381 ) Summarized combined balance sheet amounts related to CCE was as follows: September 30, 2017 December 31, 2016 (in thousands) Assets Cash and cash equivalents $ 55 $ 150 Restricted cash 17 17 Trade accounts receivable 831 1,008 Prepaid expenses 442 450 Other current assets 28 26 Other assets 440 439 Total assets $ 1,813 $ 2,090 Liabilities and noncontrolling interests Current liabilities $ 653 $ 707 Due to IDT Energy 1,096 1,298 Noncontrolling interests 64 85 Total liabilities and noncontrolling interests $ 1,813 $ 2,090 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.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2017
Earnings (Loss) Per Share [Abstract]
Earnings (Loss) Per Share	Note 8— Earnings (Loss) 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 earnings per share attributable to the Company’s common stockholders consists of the following: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Basic weighted-average number of shares 23,567 22,813 23,495 22,800 Effect of dilutive securities: Stock options — — — — Non-vested restricted Class B common stock 591 — — — Diluted weighted-average number of shares 24,158 22,813 23,495 22,800 The following shares were excluded from the diluted earnings per share computation: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Stock options 383 414 383 414 Non-vested restricted Class B common stock — 1,829 1,205 1,829 Shares excluded from the calculation of diluted earnings per share 383 2,243 1,588 2,243 In the three months ended September 30, 2017, stock options with an exercise price that was greater than the average market price of the Company’s stock during the period were excluded from the diluted earnings per share computation. In the nine months ended September 30, 2017, and the three and nine months ended September 30, 2016, the diluted loss per share computation equals basic loss per share because the Company had a net loss and the impact of the assumed exercise of stock options and the 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 Afek, Genie Mongolia, Inc. (“Genie Mongolia”), Israel Energy Initiatives, Ltd. (“IEI”), 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, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 9—Related Party Transactions The Company was formerly a subsidiary of IDT Corporation (“IDT”). On October 28, 2011, the Company was spun-off by IDT (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, 2017 2016 2017 2016 (in thousands) Amount IDT charged the Company $ 313 $ 406 $ 1,203 $ 1,342 Amount the Company charged IDT $ 116 $ 151 $ 346 $ 425

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2017
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 operates REPs, including IDT Energy, Residents Energy, Town Square Energy, and Mirabito, 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. GRE has outstanding deferred stock units granted to officers and employees that represent an aggregate interest of 1.25% of the equity of GRE. The Afek segment is comprised of the Company’s 85.9% interest in Afek, which operates an oil and gas exploration project in the Golan Heights in Northern Israel. The GOGAS segment is comprised of inactive oil shale projects including AMSO, LLC, Genie Mongolia, and IEI. Corporate costs include unallocated compensation, consulting fees, legal fees, business development expense and other corporate-related general and administrative expenses. 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, 2017 Revenues $ 69,473 $ — $ — $ — $ 69,473 Income (loss) from operations 4,773 (1,011 ) (158 ) (2,201 ) 1,403 Exploration — 753 — — 753 Equity in the net loss of Shoreditch 159 — — — 159 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 Nine Months Ended September 30, 2017 Revenues $ 191,126 $ — $ — $ — $ 191,126 Income (loss) from operations 4,352 (3,611 ) (350 ) (7,359 ) (6,968 ) Exploration — 2,556 — — 2,556 Equity in the net loss of Shoreditch 159 — — — 159 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 Total assets for the business segments of the Company were as follows: (in thousands) GRE Afek GOGAS Corporate Total Total assets: September 30, 2017 $ 98,181 $ 13,491 $ 5,913 $ 2,625 $ 120,210 December 31, 2016 87,539 6,685 $ 12,224 15,365 121,813

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
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 subsequently entered into a Settlement Agreement (see below), which received preliminary approval from the Court on October 16, 2017. The Settlement Agreement is subject to entry of a final order by the Court approving the Settlement Agreement. 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 subsequently entered into a Settlement Agreement (see below), which received preliminary approval from the Court on October 16, 2017. The Settlement Agreement is subject to entry of a final order by the Court approving the Settlement Agreement. 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 subsequently entered into a Settlement Agreement (see below), which received preliminary approval from the Court on October 16, 2017. The Settlement Agreement is subject to entry of a final order by the Court approving the Settlement Agreement. On July 5, 2017, the Company entered into a class action Settlement Agreement with the class action plaintiffs acting individually and on behalf of the entire class, in the lawsuits currently pending in Pennsylvania, New York, and New Jersey described above. The Company does not believe that there was any wrongdoing on its part, and is entering into this settlement to further its efforts to address its customers’ concerns. Under the Settlement Agreement, the Company has agreed to pay certain amounts to resolve the lawsuits and obtain a release of claims that were asserted or could be asserted in the lawsuits or that are related to or arise out of the conduct alleged in the lawsuits or similar conduct, wherever it may have occurred. The settlement payment includes payments to customers who timely make a claim, class counsel, and the named plaintiffs as well as the cost of a claims administrator for administrating the claims process. The Company estimated, based in part on historical participation rates that its total settlement payment will be approximately $9 million, although it is reasonably possible that the total payments could reach $10.1 million. In the nine months ended September 30, 2017, in the consolidated statement of operations, the Company recorded a revenue reduction of $3.6 million and an expense of $5.4 million that is included in “Selling, general and administrative expense”, and a liability of $9.0 million that is included in “Accrued expenses” in the consolidated balance sheet. The actual amount to be paid out will depend on several factors, including the number of customers who claim settlement payments to which they are entitled. The Settlement Agreement was preliminarily approved by the Court on October 16, 2017. The Settlement Agreement is subject to entry of a final order by the Court approving the Settlement Agreement. 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 alleged, among other things, various violations of Pennsylvania’s Unfair Trade Practices and Consumer Protection Law, the Telemarketing Registration Act and the 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. In the fourth quarter of 2015, the Company received a request for information from the New Jersey Office of the Attorney General. The Company responded to the inquiry. The Company has recently been engaged in discussions with the New Jersey Office of the Attorney General regarding concerns raised by the New Jersey Board of Public Utilities and Division of Consumer Affairs related to energy supply charges issued to the Company’s retail customers during the first quarter of 2014 and have reached a tentative agreement in principle. In the three months ended September 30, 2017, the Company accrued $1.5 million of estimated loss related to this matter. The Company recorded a revenue reduction in the consolidated statement of operations of $1.3 million relating to refunds to customers and an expense of $0.2 million for related fees that is included in “Selling, general and administrative expense,” and a liability of $1.5 million that is included in “Accrued expenses” in the consolidated balance sheet. From time to time, the Company receives inquiries or requests for information or materials from public utility commissions or other governmental regulatory or law enforcement agencies related to investigations under statutory or regulatory schemes, and the Company responds to those inquiries or requests. The Company cannot predict whether any of those matters will lead to claims or enforcement actions. 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 have required 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. On December 2, 2016, the PSC noticed an evidentiary hearing scheduled to take place in November-December 2017 to assess the retail energy market in New York. That process is underway and is expected to last for at least several more months. The Company is evaluating the potential impact of any new order from the PSC that would follow from the evidentiary process, 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, and September 19, 2016, the PSC issued orders restricting REPs, including those owned by GRE, from serving customers enrolled in New York’s utility low-income assistance programs. Representatives of the REP industry challenged the ruling in New York State Supreme Court, Albany County, and, on September 27, 2016, the Court issued an order temporarily restraining the PSC from implementing the July and September orders. On December 16, 2016, the PSC issued an order (the “2016 Order”) prohibiting REP service to customers enrolled in New York’s utility low-income assistance programs. After an agreed-upon delay, on July 5, 2017, the New York State Supreme Court, Albany County, denied interested parties’ efforts to invalidate the 2016 Order, and the 2016 Order began to be implemented on July 26, 2017. Several REPs have appealed the Supreme Court’s Order to the Appellate Division, Third Department. Pending the outcome of the appeal, low-income customers in New York are forbidden to select a REP for either their electricity or natural gas supply. A putative class action on behalf of the affected low-income assistance program participants was filed in the United States District Court for the Northern District of New York. On October 20, 2017, the plaintiffs secured a temporary stay of the 2016 Order f Unless that temporary stay of the 2016 Order is extended by the United States District Court, REPs will be required to return service of their current low-income customers to the relevant local incumbent utility in the next several weeks. The Company estimates that if the order is implemented in the current form, it will impact customers representing approximately 4-6% of the total volume of electricity and natural gas sold by the REPs operated by the Company. Additionally, this ruling will impact the Company’s ability to sign new customers in New York as the potential customer pool will be smaller. If challenges to the 2016 Order as currently structured are not successful, the combination of customers who have returned to the utility and the potential customer pool market in New York could have a material adverse impact on the Company’s future results. Purchase Commitments The Company had purchase commitments of $23.9 million at September 30, 2017, of which $22.2 million was for future purchases of electricity. The purchase commitments outstanding at September 30, 2017 are expected to be paid as follows: $19.0 million in the twelve months ending September 30, 2018, $4.6 million in the twelve months ending September 30, 2019, and $0.3 million in the twelve months ending September 30, 2020. 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, 2017, GRE had commitments to purchase renewable energy credits of $27.1 million. Tax Audits The Company is subject to audits in various jurisdictions for various taxes. The U.S. Internal Revenue Service has commenced an audit of the Afek Oil & Gas Ltd. tax return for 2014. 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. 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 and for certain utility companies. At September 30, 2017, GRE had aggregate performance bonds of $11.6 million outstanding. BP Energy Company Preferred Supplier Agreement 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. In addition, IDT Energy must pay an advance payment of $2.5 million to BP each month that BP will apply to the next invoiced amount due to 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, 2017, the Company was in compliance with such covenants. At September 30, 2017, restricted cash—short-term of $0.2 million and trade accounts receivable of $26.5 million were pledged to BP as collateral for the payment of IDT Energy’s trade accounts payable to BP of $8.8 million at September 30, 2017.

Revolving Lines of Credit

Revolving Lines of Credit	9 Months Ended
	Sep. 30, 2017
Revolving Lines of Credit [Abstract]
Revolving Lines of Credit	Note 12—Revolving Lines of Credit On April 4, 2017, GRE, IDT Energy, and other GRE subsidiaries entered into a Credit Agreement with Vantage Commodities Financial Services II, LLC (“Vantage”) for a $20 million revolving line of credit. The borrowers consist of the Company’s subsidiaries that operate REP businesses, and those subsidiaries’ obligations are guaranteed by GRE. On April 4, 2017, the borrowers borrowed $4.3 million under this facility, which included $1.7 million that was previously outstanding under a credit facility between Retail Energy Holdings, LLC (“REH”), a subsidiary of the Company that operates as Town Square Energy, and Vantage. The REH Credit Agreement with Vantage was terminated in connection with the entry into this credit agreement. The borrowers have provided as collateral a security interest in their receivables, bank accounts, customer agreements, certain other material agreements and related commercial and intangible rights. Outstanding principal amount incurs interest at LIBOR plus 4.5% per annum. Interest is payable monthly and all outstanding principal and any accrued and unpaid interest is due on the maturity date of April 3, 2020. At September 30, 2017, $2.5 million was outstanding under the revolving line of credit and the effective interest rate was 5.82% per annum. The borrowers are required to comply with various affirmative and negative covenants, including maintaining a target tangible net worth during the term of the credit agreement. To date, the Company is in compliance with such covenants. REH had a Credit Agreement with Vantage for a revolving line of credit for up to a maximum principal amount of $7.5 million (see above). The principal outstanding incurred interest at one-month LIBOR plus 5.25% per annum, payable monthly. The outstanding principal and any accrued and unpaid interest was due on the maturity date of October 31, 2017. At December 31, 2016, $0.7 million was outstanding under the line of credit. The Company and IDT Energy had 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 principal outstanding incurred 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 was payable at least every three months and any outstanding principal and accrued and unpaid interest was due on the maturity date of May 31, 2017. 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. At December 31, 2016, 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 December 31, 2016, letters of credit of $8.1 million were outstanding. On May 31, 2017, the $10.0 million cash collateral was released upon expiration of the Loan Agreement.

Recently Issued Accounting Stan

Recently Issued Accounting Standards Not Yet Adopted	9 Months Ended
	Sep. 30, 2017
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 expects to 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 plans to use the modified retrospective approach for the adoption of the standard. The Company is in the process of evaluating the impact that the standard will have on its consolidated financial statements. Based on the Company’s assessment to date, the main areas of potential impact of the new standard relate to accounting for customer acquisition costs and rebate programs. At this stage of the implementation process, the Company cannot reasonably estimate the impact that the adoption of the standard will have on its consolidated financial statements. In January 2016, the FASB issued an Accounting Standards Update (“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 does not expect this ASU will have a significant impact 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 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. In November 2016, the FASB issued an ASU that includes specific guidance on the classification and presentation of changes in restricted cash and cash equivalents in the statement of cash flows. The amendments in this ASU require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Amounts generally described as restricted cash or restricted cash equivalents will be included with cash and cash equivalents when reconciling the beginning of the period and end of the period total amounts shown on the statement of cash flows. The ASU will be applied using a retrospective transition method to each period presented. The Company will adopt the amendments in this ASU on January 1, 2018. The adoption will impact the Company’s beginning of the period and end of the period cash and cash equivalents balance in its statement of cash flows, as well as its net cash provided by operating activities. In January 2017, the FASB issued an ASU to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under the current guidance, there are three elements of a business—inputs, processes, and outputs. While an integrated set of assets and activities (collectively referred to as a “set”) that is a business usually has outputs, outputs are not required to be present. In addition, all the inputs and processes that a seller uses in operating a set are not required if market participants can acquire the set and continue to produce outputs, for example, by integrating the acquired set with their own inputs and processes. The amendments in this ASU provide a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. If the screen is not met, the amendments in this ASU (1) require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) remove the evaluation of whether a market participant could replace missing elements. The amendments provide a framework to assist entities in evaluating whether both an input and a substantive process are present. The framework includes two sets of criteria to consider that depend on whether a set has outputs. Although outputs are not required for a set to be a business, outputs generally are a key element of a business; therefore, the FASB has developed more stringent criteria for sets without outputs. Lastly, the ASU narrows the definition of the term output. The Company will adopt the amendments in this ASU on January 1, 2018. The adoption will impact the Company’s accounting for acquisitions and disposals of assets or businesses on a prospective basis, however there will be no impact on the Company’s historical consolidated financial statements. In January 2017, the FASB issued an ASU that simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this ASU, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. Early adoption of this standard is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company intends to adopt this standard for its goodwill impairment test to be performed in 2017. In August 2017, the FASB issued an ASU intended to improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. In addition, the ASU includes certain targeted improvements to simplify the application of hedge accounting guidance in U.S. GAAP. The amendments in this ASU are effective for the Company on January 1, 2019. Early application is permitted. Entities will apply the amendments to cash flow and net investment hedge relationships that exist on the date of adoption using a modified retrospective approach. The presentation and disclosure requirements will be applied prospectively. The Company is evaluating the impact that this ASU will have on its consolidated financial statements.

Acquisition of Mirabito Natur21

Acquisition of Mirabito Natural Gas (Tables)	9 Months Ended
	Sep. 30, 2017
Business Acquisition [Line Items]
Schedule of acquisition's preliminary purchase price allocations	Trade accounts receivable $ 509 Prepaid expenses 60 Non-compete agreement 5 Customer relationships 1,100 Patents and trademarks 760 Goodwill 1,270 Other assets 465 Trade accounts payable (299 ) Accrued expenses (2 ) Net assets excluding cash acquired $ 3,868 Supplemental information: Cash paid $ 3,804 Cash acquired (87 ) Cash paid, net of cash acquired 3,717 Liability for working capital payment 151 Total consideration, net of cash acquired $ 3,868
Schedule of pro forma information	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Revenues $ 70,038 $ 58,204 $ 194,932 $ 164,308 Net income (loss) $ 957 $ (37,206 ) $ (7,734 ) $ (30,822 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2017 Assets: Derivative contracts $ 167 $ 2,525 $ — $ 2,692 Liabilities: Derivative contracts $ 6 $ 1,539 $ — $ 1,545 December 31, 2016 Assets: Derivative contracts $ 256 $ 2,395 $ — $ 2,651 Liabilities: Derivative contracts $ 60 $ 1,667 $ — $ 1,727 (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, 2017
Derivative Instruments [Abstract]
Summarized volume of GRE's outstanding contracts and options	Commodity Settlement Dates Volume Electricity October 2017 31,680 MWh Electricity November 2017 223,440 MWh Electricity December 2017 283,200 MWh Electricity January 2018 397,760 MWh Electricity February 2018 361,600 MWh Electricity March 2018 214,720 MWh Electricity July 2018 159,600 MWh Electricity August 2018 174,800 MWh Electricity October 2018 73,600 MWh Electricity November 2018 67,200 MWh Electricity December 2018 64,000 MWh Natural gas November 2017 1,230,000 Dth Natural gas December 2017 793,000 Dth Natural gas January 2018 155,000 Dth Natural gas February 2018 580,000 Dth
Schedule of fair value of outstanding derivative instruments recorded as assets and liability	Asset Derivatives Balance Sheet Location September 30, 2017 December 31, 2016 (in thousands) Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Other current assets $ 2,692 $ 2,651 Liability Derivatives Derivatives not designated or not qualifying as hedging instruments: Energy contracts and options Other current liabilities $ 1,545 $ 1,727
Effects of derivative instruments on the consolidated statements of operations	Amount of Loss Recognized on Derivatives Three Months Ended September 30, Nine Months Ended September 30, Derivatives not designated Location of Gain (Loss) Recognized on Derivatives 2017 2016 2017 2016 (in thousands) Energy contracts and options Cost of revenues $ (763 ) $ (1,183 ) $ (3,482 ) $ (381 )

Investment in Joint Venture (Ta

Investment in Joint Venture (Tables)	9 Months Ended
	Sep. 30, 2017
Investment in Joint Venture [Abstract]
Summary of change in balance of GEUK's investment	Balance, beginning of period $ — Capital contributions 1,275 Equity in the net loss of joint venture (159 ) Balance, end of period $ 1,116
Summary of unaudited statements of operations of Shoreditch	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Operating expenses: Selling, general and administrative $ 244 $ — $ 244 $ — Loss from operations (244 ) — (244 ) — Other income — — — — Net loss $ (244 ) $ — $ (244 ) $ —

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Summary of changes in the components of equity	Nine Months Ended September 30, 2017 Attributable to Genie Noncontrolling Interests Total (in thousands) Balance, December 31, 2016 $ 96,534 $ (16,669 ) $ 79,865 Dividends on preferred stock (1,111 ) — (1,111 ) Dividends on common stock ($0.225 per share) (5,563 ) — (5,563 ) Exercise of stock options 109 — 109 Restricted Class B common stock purchased from employees (829 ) — (829 ) Purchases of equity of subsidiary (746 ) 434 (312 ) Class B common stock issued for GRE deferred stock units 1,845 — 1,845 Stock-based compensation 2,330 — 2,330 Comprehensive loss: Net loss (7,208 ) (626 ) (7,834 ) Foreign currency translation adjustments 1,348 (585 ) 763 Comprehensive loss (5,860 ) (1,211 ) (7,071 ) Balance, September 30, 2017 $ 86,709 $ (17,446 ) $ 69,263
Schedule of net income (loss) related to CCE and aggregate net funding	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Net income (loss) $ 312 $ 841 $ (21 ) $ (885 ) Aggregate funding repaid to (provided by) the Company, net $ 173 $ 617 $ 202 $ (381 )
Summarized consolidated balance sheet amounts related to CCE	September 30, 2017 December 31, 2016 (in thousands) Assets Cash and cash equivalents $ 55 $ 150 Restricted cash 17 17 Trade accounts receivable 831 1,008 Prepaid expenses 442 450 Other current assets 28 26 Other assets 440 439 Total assets $ 1,813 $ 2,090 Liabilities and noncontrolling interests Current liabilities $ 653 $ 707 Due to IDT Energy 1,096 1,298 Noncontrolling interests 64 85 Total liabilities and noncontrolling interests $ 1,813 $ 2,090

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings (Loss) Per Share [Abstract]
Schedule of weighted-average number of shares used in the calculation of basic and diluted earnings per share	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Basic weighted-average number of shares 23,567 22,813 23,495 22,800 Effect of dilutive securities: Stock options — — — — Non-vested restricted Class B common stock 591 — — — Diluted weighted-average number of shares 24,158 22,813 23,495 22,800
Schedule of antidilutive shares excluded from computation of earnings per share	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Stock options 383 414 383 414 Non-vested restricted Class B common stock — 1,829 1,205 1,829 Shares excluded from the calculation of diluted earnings per share 383 2,243 1,588 2,243

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Summary of related party transactions	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Amount IDT charged the Company $ 313 $ 406 $ 1,203 $ 1,342 Amount the Company charged IDT $ 116 $ 151 $ 346 $ 425

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Business Segment Information [Abstract]
Summary of operating results for the business segments	(in thousands) GRE Afek GOGAS Corporate Total Three Months Ended September 30, 2017 Revenues $ 69,473 $ — $ — $ — $ 69,473 Income (loss) from operations 4,773 (1,011 ) (158 ) (2,201 ) 1,403 Exploration — 753 — — 753 Equity in the net loss of Shoreditch 159 — — — 159 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 Nine Months Ended September 30, 2017 Revenues $ 191,126 $ — $ — $ — $ 191,126 Income (loss) from operations 4,352 (3,611 ) (350 ) (7,359 ) (6,968 ) Exploration — 2,556 — — 2,556 Equity in the net loss of Shoreditch 159 — — — 159 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
Summary of total assets for the business segments	(in thousands) GRE Afek GOGAS Corporate Total Total assets: September 30, 2017 $ 98,181 $ 13,491 $ 5,913 $ 2,625 $ 120,210 December 31, 2016 87,539 6,685 $ 12,224 15,365 121,813

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended				9 Months Ended
	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2017
Basis of Presentation (Textual)
Percentage of gas revenue generated in given period		43.00%		64.00%
Percentage of electricity revenue generated in given period	31.00%		29.00%
Genie Retail Energy [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary					100.00%
Ownership interest of company					1.25%
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					85.90%
Genie Energy International Corporation [Member]
Basis of Presentation (Textual)
Company's investment, ownership percentage in subsidiary					99.30%

Acquisition of Mirabito Natur30

Acquisition of Mirabito Natural Gas (Details) - USD ($) $ in Thousands	Aug. 10, 2017	Sep. 30, 2017	Sep. 30, 2016
Supplemental information:
Cash acquired			$ (702)
Liability for working capital payment		$ 151
Mirabito Natural Gas [Member]
Business Acquisition [Line Items]
Trade accounts receivable	$ 509
Prepaid expenses	60
Non-compete agreement	5
Customer relationships	1,100
Patents and trademarks	760
Goodwill	1,270
Other assets	465
Trade accounts payable	(299)
Accrued expenses	(2)
Net assets excluding cash acquired	3,868
Supplemental information:
Cash paid	3,804
Cash acquired	(87)
Cash paid, net of cash acquired	3,717
Liability for working capital payment	151
Total consideration, net of cash acquired	$ 3,868

Acquisition of Mirabito Natur31

Acquisition of Mirabito Natural Gas (Details 1) - Mirabito Natural Gas [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Revenues	$ 70,038	$ 58,204	$ 194,932	$ 164,308
Net income (loss)	$ 957	$ (37,206)	$ (7,734)	$ (30,822)

Acquisition of Mirabito Natur32

Acquisition of Mirabito Natural Gas (Details Textual) $ in Thousands	Aug. 10, 2017USD ($)
Management Agreement [Member]
Acquisition of Mirabito Natural Gas (Textual)
Management fee termination date	Aug. 31, 2021
Annual management fee business profit percentage	30.00%
Annual management fee minimum	$ 250,000
Mirabito Natural Gas [Member]
Acquisition of Mirabito Natural Gas (Textual)
Aggregate cash payment	$ 3,868

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring [Member] - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Assets:
Derivative contracts		$ 2,692	$ 2,651
Liabilities:
Derivative contracts		1,545	1,727
Level 1 [Member]
Assets:
Derivative contracts	[1]	167	256
Liabilities:
Derivative contracts	[1]	6	60
Level 2 [Member]
Assets:
Derivative contracts	[2]	2,525	2,395
Liabilities:
Derivative contracts	[2]	1,539	1,667
Level 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, 2017	Dec. 31, 2016
Fair Value Measurements (Textual)
Financial instrument included in other assets	$ 0.7	$ 1.5

Derivative Instruments (Details

Derivative Instruments (Details)	9 Months Ended
	Sep. 30, 2017
Electricity 1 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Oct. 31, 2017
Volume	31,680 MWh
Electricity 2 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Nov. 30, 2017
Volume	223,440 MWh
Electricity 3 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Dec. 31, 2017
Volume	283,200 MWh
Electricity 4 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Jan. 31, 2018
Volume	397,760 MWh
Electricity 5 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Feb. 28, 2018
Volume	361,600 MWh
Electricity 6 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Mar. 31, 2018
Volume	214,720 MWh
Electricity 7 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Jul. 31, 2018
Volume	159,600 MWh
Electricity 8 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Aug. 31, 2018
Volume	174,800 MWh
Electricity 9 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Oct. 31, 2018
Volume	73,600 MWh
Electricity 10 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Nov. 30, 2018
Volume	67,200 MWh
Electricity 11 [Member]
Summarized volume of GRE's outstanding
Commodity	Electricity
Settlement Dates	Dec. 31, 2018
Volume	64,000 MWh
Natural Gas 1 [Member]
Summarized volume of GRE's outstanding
Commodity	Natural gas
Settlement Dates	Nov. 30, 2017
Volume	1,230,000 Dth
Natural Gas 2 [Member]
Summarized volume of GRE's outstanding
Commodity	Natural gas
Settlement Dates	Dec. 31, 2017
Volume	793,000 Dth
Natural Gas 3 [Member]
Summarized volume of GRE's outstanding
Commodity	Natural gas
Settlement Dates	Jan. 31, 2018
Volume	155,000 Dth
Natural Gas 4 [Member]
Summarized volume of GRE's outstanding
Commodity	Natural gas
Settlement Dates	Feb. 28, 2018
Volume	580,000 Dth

Derivative Instruments (Detai36

Derivative Instruments (Details 1) - Energy contracts and options [Member] - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
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	$ 2,692	$ 2,651
Other current liabilities [Member]
Schedule of fair value of outstanding derivative instruments recorded as assets and liability
Liability Derivatives, not designated or not qualifying as hedging instruments	$ 1,545	$ 1,727

Derivative Instruments (Detai37

Derivative Instruments (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Energy contracts and options [Member] | Cost of revenues [Member]
Effects of derivative instruments on the consolidated statements of operations
Amount of Loss Recognized on Derivatives	$ (763)	$ (1,183)	$ (3,482)	$ (381)

Afek Oil and Gas Exploration 38

Afek Oil and Gas Exploration Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Afek Oil and Gas Exploration Activities (Textual)
Exploration expense	$ 753	$ 1,323	$ 2,556	$ 4,439
Write-off of capitalized exploration costs		41,041		41,041
Capitalized costs unproved properties	5,741		5,741
Southern and Northern Sites [Member]
Afek Oil and Gas Exploration Activities (Textual)
Exploration expense	800	$ 1,300	2,600	$ 4,400
Capitalized costs unproved properties	$ 5,700		$ 5,700

Investment in Joint Venture (De

Investment in Joint Venture (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Summary of change in the balance GEUK's investment
Balance, beginning of period
Capital contributions			1,275
Equity in the net loss of joint venture	$ (159)		(159)	$ (222)
Balance, end of period	$ 1,116		$ 1,116

Investment in Joint Venture (40

Investment in Joint Venture (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating expenses:
Selling, general and administrative	$ 244		$ 244
Loss from operations	(244)		(244)
Other income
Net loss	$ (244)		$ (244)

Investment in Joint Venture (41

Investment in Joint Venture (Details Textual) $ in Thousands, £ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2017GBP (£)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Investment in joint venture	$ 1,275
Allocated to goodwill	9,998			$ 8,728
Shoreditch [Member]
Business Acquisition [Line Items]
Investment in joint venture	$ 1,300
GEUK [Member]
Business Acquisition [Line Items]
Percentage of ownership	65.00%
Goodwill	$ 500
Additional aggregate investment in joint venture	$ 5,700	£ 4.2
EGC [Member]
Business Acquisition [Line Items]
Percentage of ownership	35.00%
Additional aggregate investment in joint venture	$ 2,200	£ 1.7

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 79,865
Dividends on preferred stock			(1,111)
Dividends on common stock ($0.225 per share)			(5,563)
Exercise of stock options			109
Restricted Class B common stock purchased from employees			(829)
Purchases of equity of subsidiary			(312)
Class B common stock issued for GRE deferred stock units			1,845
Stock-based compensation			2,330
Comprehensive loss:
Net loss	$ 975	$ (37,174)	(7,834)	(30,905)
Foreign currency translation adjustments	(119)	982	763	1,389
Comprehensive loss	856	$ (36,192)	(7,071)	$ (29,516)
Ending Balance	69,263		69,263
Attributable to Genie [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			96,534
Dividends on preferred stock			(1,111)
Dividends on common stock ($0.225 per share)			(5,563)
Exercise of stock options			109
Restricted Class B common stock purchased from employees			(829)
Purchases of equity of subsidiary			(746)
Class B common stock issued for GRE deferred stock units			1,845
Stock-based compensation			2,330
Comprehensive loss:
Net loss			(7,208)
Foreign currency translation adjustments			1,348
Comprehensive loss			(5,860)
Ending Balance	86,709		86,709
Noncontrolling Interests [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			(16,669)
Dividends on preferred stock
Dividends on common stock ($0.225 per share)
Exercise of stock options
Restricted Class B common stock purchased from employees
Purchases of equity of subsidiary			434
Class B common stock issued for GRE deferred stock units
Stock-based compensation
Comprehensive loss:
Net loss			(626)
Foreign currency translation adjustments			(585)
Comprehensive loss			(1,211)
Ending Balance	$ (17,446)		$ (17,446)

Equity (Details 1)

Equity (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity [Abstract]
Net income (loss)	$ 312	$ 841	$ (21)	$ (885)
Aggregate funding repaid to (provided by) the Company, net	$ 173	$ 617	$ 202	$ (381)

Equity (Details 2)

Equity (Details 2) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Summarized combined balance sheet amounts related to CCE
Total assets	$ 1,813	$ 2,090
Total liabilities and noncontrolling interests	1,813	2,090
Cash and cash equivalents [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	55	150
Restricted cash [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	17	17
Trade accounts receivable [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	831	1,008
Prepaid expenses [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	442	450
Other current assets [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	28	26
Other assets [Member]
Summarized combined balance sheet amounts related to CCE
Total assets	440	439
Current liabilities [Member]
Summarized combined balance sheet amounts related to CCE
Total liabilities and noncontrolling interests	653	707
Due to IDT Energy [Member]
Summarized combined balance sheet amounts related to CCE
Total liabilities and noncontrolling interests	1,096	1,298
Noncontrolling Interests [Member]
Summarized combined balance sheet amounts related to CCE
Total liabilities and noncontrolling interests	$ 64	$ 85

Equity (Details Textual)

Equity (Details Textual) $ / shares in Units, $ in Thousands	Nov. 01, 2017$ / shares	Oct. 19, 2017$ / shares	Aug. 31, 2017USD ($)Stockshares	Oct. 31, 2015USD ($)	Sep. 30, 2017USD ($)$ / sharesshares	Sep. 30, 2016USD ($)$ / sharesshares	Mar. 11, 2013shares
Equity (Textual)
Purchases of equity of subsidiary					$ (312)
Preferred stock dividend declared					$ 1,111
Dividends declared per common share | $ / shares					$ 0.225
Remaining number of shares available for repurchase | shares					6,900,000
Aggregate fair value of common stock issued					$ 1,845
Exercise of stock options					$ 109
CCE [Member]
Equity (Textual)
Variable interest entity, description					The Company has an option to purchase 100% of the issued and outstanding limited liability company interests of CCE for one dollar plus the forgiveness of $0.5 million that the Company loaned to CCE in October 2015.
Options expiration date				Oct. 22, 2023
Forgiveness of loan				$ 500
Afek [Member]
Equity (Textual)
Purchases of equity of subsidiary					$ 300
Subsidiary stock repurchased equity interest.					1.15%
Preferred Stock [Member]
Equity (Textual)
Preferred stock dividend rate | $ / shares					$ 0.4782	$ 0.4782
Preferred stock dividend declared					$ 1,100	$ 1,100
Preferred Stock [Member] | Subsequent Event [Member]
Equity (Textual)
Quarterly base dividend declared | $ / shares		$ 0.1594
Dividend declared, date to be paid		Nov. 15, 2017
Dividend declared, record date		Nov. 1, 2017
Common Stock [Member]
Equity (Textual)
Dividends declared per common share | $ / shares					$ 0.225	$ 0.18
Dividends paid					$ 5,600	$ 4,400
Common Stock [Member] | Subsequent Event [Member]
Equity (Textual)
Dividends declared per common share | $ / shares	$ 0.075
Dividend declared, date to be paid	Nov. 17, 2017
Dividend declared, record date	Nov. 13, 2017
Common Class B [Member]
Equity (Textual)
Number of shares repurchased, shares | shares					129,898	3,096
Number of shares repurchased, value					$ 800	$ 29
Number of stock authorized to be repurchased | shares							7,000,000
Common stock issued in exchange for vested deferred stock, shares | shares			287,233
Aggregate fair value of common stock issued			$ 1,800
Exercise of stock options					$ 100
Common stock shares issued | shares					15,855
Deferred Stock [Member]
Equity (Textual)
Vested deferred stock units of GRE | Stock			26.1

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings (Loss) Per Share [Abstract]
Basic weighted-average number of shares	23,567	22,813	23,495	22,800
Effect of dilutive securities:
Stock options
Non-vested restricted Class B common stock	591
Diluted weighted-average number of shares	24,158	22,813	23,495	22,800

Earnings (Loss) Per Share (De47

Earnings (Loss) Per Share (Details 1) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted earnings per share	383	2,243	1,588	2,243
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted earnings per share	383	414	383	414
Non-vested restricted Class B common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted earnings per share		1,829	1,205	1,829

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Summary of related party transactions
Amount IDT charged the Company	$ 313	$ 406	$ 1,203	$ 1,342
Amount the Company charged IDT	$ 116	$ 151	$ 346	$ 425

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating results for the business segments
Revenues	$ 69,473	$ 57,153	$ 191,126	$ 160,593
Income (loss) from operations	1,403	(37,102)	(6,968)	(29,168)
Research and development				210
Exploration	753	1,323	2,556	4,439
Write-off of capitalized exploration costs		41,041		41,041
Gain on consolidation of AMSO, LLC				1,262
Equity in the net loss of joint ventures	159		159	222
GRE [Member]
Operating results for the business segments
Revenues	69,473	57,153	191,126	160,593
Income (loss) from operations	4,773	7,893	4,352	23,760
Research and development
Exploration
Gain on consolidation of AMSO, LLC
Equity in the net loss of joint ventures	159		159
Afek [Member]
Operating results for the business segments
Revenues
Income (loss) from operations	(1,011)	(42,666)	(3,611)	(46,281)
Research and development
Exploration	753	1,323	2,556	4,439
Write-off of capitalized exploration costs		41,041		41,041
Gain on consolidation of AMSO, LLC
Equity in the net loss of joint ventures
GOGAS [Member]
Operating results for the business segments
Revenues
Income (loss) from operations	(158)	(148)	(350)	221
Research and development				210
Exploration
Gain on consolidation of AMSO, LLC				1,262
Equity in the net loss of joint ventures				222
Corporate [Member]
Operating results for the business segments
Revenues
Income (loss) from operations	(2,201)	(2,181)	(7,359)	(6,868)
Research and development
Exploration
Gain on consolidation of AMSO, LLC
Equity in the net loss of joint ventures

Business Segment Information 50

Business Segment Information (Details 1) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Summary total assets for the business segments
Total assets	$ 120,210	$ 121,813
GRE [Member]
Summary total assets for the business segments
Total assets	98,181	87,539
Afek [Member]
Summary total assets for the business segments
Total assets	13,491	6,685
GOGAS [Member]
Summary total assets for the business segments
Total assets	5,913	12,224
Corporate [Member]
Summary total assets for the business segments
Total assets	$ 2,625	$ 15,365

Business Segment Information 51

Business Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2017Segment
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	1.25%
GOGAS [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	92.00%
Afek [Member]
Business Segment Information (Textual)
Company's investment, ownership percentage in subsidiary	85.90%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended
		Jul. 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Nov. 19, 2015
Commitments and Contingencies (Textual)
Additional refunds to customers		$ 2,400
Purchase commitments			$ 23,900		$ 23,900
Electricity purchase commitments included in total			22,200		22,200
Purchase commitment due in September 30, 2018			19,000		19,000
Purchase commitment due in September 30, 2019			4,600		4,600
Purchase commitment due in September 30, 2020			300		300
Advance payment to BP			7,249		7,249		$ 4,026
Selling, general and administrative expense	[1]		19,464	$ 14,945	63,008	$ 46,888
Accrued expenses			27,322		$ 27,322		$ 16,301
Proposed regulatory matter potential requirements, Description					The PSC's order, which were to become effective March 4, 2016, would have required 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.
New York Public Service Commission [Member] | 2016 Order [Member]
Commitments and Contingencies (Textual)
Minimum electricity volume					4.00%
Maximum electricity volume					6.00%
New Jersey [Member]
Commitments and Contingencies (Textual)
Legal regulatory matter			1,500		$ 1,500
Revenue reduction			1,300
Selling, general and administrative expense			200
Accrued expenses			1,500		1,500
Class Action Settlement Agreement [Member]
Commitments and Contingencies (Textual)
Total settlement payment			9,000
Revenue reduction					3,600
Selling, general and administrative expense					5,400
Accrued expenses			9,000		9,000
Class Action Settlement Agreement [Member] | Maximum [Member]
Commitments and Contingencies (Textual)
Legal regulatory matter			10,100		10,100
Genie Retail Energy [Member]
Commitments and Contingencies (Textual)
Purchase of renewable energy credit			27,100		27,100
Aggregate performance bond outstanding			11,600		11,600
BP [Member]
Commitments and Contingencies (Textual)
Advance payment to BP								$ 2,500
Payment of trade accounts payable to BP Energy			8,800		$ 8,800
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			26,500		$ 26,500
Restricted Cash [Member]
Commitments and Contingencies (Textual)
Assets pledged as collateral to BP Energy			$ 200		$ 200
[1]	Stock-based compensation included in selling, general and administrative expenses

Revolving Lines of Credit (Deta

Revolving Lines of Credit (Details) - USD ($) $ in Thousands	Apr. 04, 2017	Sep. 30, 2017	May 31, 2017	Dec. 31, 2016
Revolving Lines of Credit (Textual)
Revolving line of credit current		$ 2,512
JPMorgan [Member]
Revolving Lines of Credit (Textual)
Maximum principal amount on revolving line of credit		$ 25,000
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.
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
Quoted margin rate on LIBOR, per annum		1.00%
Maturity date		May 31, 2017
Cash collateral for line of credit				10,000
Line of credit facility, frequency of payment and payment terms		Interest was payable at least every three months
Cash collateral for line of credit released on expiration			$ 10,000
Letter of credit facility, amount outstanding				8,100
Vantage Commodities Financial Services II, LLC [Member] | GRE Credit Agreement [Member]
Revolving Lines of Credit (Textual)
Maximum principal amount on revolving line of credit	$ 20,000
Line of credit facility, description		The borrowers borrowed $4.3 million under this facility, which included $1.7 million that was previously outstanding under a credit facility between Retail Energy Holdings, LLC ("REH"), a subsidiary of the Company that operates as Town Square Energy, and Vantage.
Revolving line of credit current		$ 2,500
Interest rate on principal outstanding, description		Outstanding principal amount incurs interest at LIBOR plus 4.5% per annum. Interest is payable monthly.
Quoted margin rate on LIBOR, per annum		4.50%
Maturity date		Apr. 3, 2020
Amount outstanding added to lines of credit current	1,700
Line of credit and the effective interest rate		5.82%
Initial amount borrowed	$ 4,300
Vantage Commodities Financial Services II, LLC [Member] | REH Credit Agreement [Member]
Revolving Lines of Credit (Textual)
Maximum principal amount on revolving line of credit		$ 7,500
Revolving line of credit current				$ 700
Interest rate on principal outstanding, description		The principal outstanding incurred interest at one-month LIBOR plus 5.25% per annum, payable monthly.
Quoted margin rate on LIBOR, per annum		5.25%
Maturity date		Oct. 31, 2017