Via Renewables (VIASP) 10-Q 4 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 02, 2017
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	SPKE
Entity Registrant Name	Spark Energy, Inc.
Entity Central Index Key	1,606,268
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Common Class A
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		13,145,636
Common Class B
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		21,485,126

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents		$ 13,126	$ 18,960	[1]
Restricted cash		919	0
Accounts receivable, net of allowance for doubtful accounts of $2.1 million and $2.3 million as of June 30, 2017 and December 31, 2016, respectively		95,690	112,491
Accounts receivable—affiliates		3,883	2,624
Inventory		3,442	3,752
Fair value of derivative assets		835	8,344
Customer acquisition costs, net		18,377	18,834
Customer relationships, net		13,225	12,113
Prepaid assets		1,466	1,361
Deposits		6,374	7,329
Deposit - Verde consideration		65,785	0
Other current assets		9,203	12,175
Total current assets		232,325	197,983
Property and equipment, net		3,993	4,706
Fair value of derivative assets		122	3,083
Customer acquisition costs, net		7,880	6,134
Customer relationships, net		20,218	21,410
Deferred tax assets		54,105	55,047
Goodwill		80,947	79,147
Other assets		9,123	8,658
Total assets		408,713	376,168
Current liabilities:
Accounts payable		49,341	52,309
Accounts payable—affiliates		4,089	3,775
Accrued liabilities		21,749	36,619
Fair value of derivative liabilities		6,947	680
Current portion of Senior Credit Facility		7,500	51,287
Current payable pursuant to tax receivable agreement—affiliates		1,454	0
Current contingent consideration for acquisitions		5,856	11,827
Current portion of note payable		0	15,501
Convertible subordinated notes to affiliates		0	6,582
Other current liabilities		1,024	5,476
Total current liabilities		97,960	184,056
Long-term liabilities:
Fair value of derivative liabilities		3,711	68
Payable pursuant to tax receivable agreement—affiliates		48,432	49,886
Long-term portion of Senior Credit Facility		76,500	0
Subordinated debt—affiliate		15,000	5,000
Deferred tax liability		0	938
Contingent consideration for acquisitions		3,986	10,826
Other long-term liabilities		1,330	1,658
Total liabilities		246,919	252,432
Commitments and contingencies (Note 13)
Series A Preferred Stock, par value $0.01 per share, 20,000,000 shares authorized, 1,610,000 shares issued and outstanding at June 30, 2017 and zero shares issued and outstanding at December 31, 2016		39,111	0
Additional paid-in capital		35,277	25,413
Accumulated other comprehensive (income)/loss		(17)	11
Retained earnings		2,132	4,711
Stock Repurchased During Period, Value		1,285
Treasury stock, at cost, 59,726 shares at June 30, 2017 and zero shares at December 31, 2016			0
Total stockholders' equity		36,455	30,303
Non-controlling interest in Spark HoldCo, LLC		86,228	93,433
Total equity		122,683	123,736
Total liabilities, Series A Preferred Stock and stockholders' equity		408,713	376,168
Common Class A
Common stock	[2]	132	65
Common Class B
Common stock	[2]	$ 216	$ 103
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.
[2]	Outstanding shares of common stock reflect the two-for-one stock split, which took effect on June 16, 2017. See Note 4 "Equity" for further discussion.

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2.1	$ 2.3
Preferred stock par value per share (in dollars per share)	$ 0.01	$ 0.01
Preferred stock shares authorized (shares)	20,000,000	20,000,000
Preferred stock shares issued (shares)	1,610,000	0
Preferred stock shares outstanding (shares)	1,610,000	0
Treasury stock (shares)	59,726	0
Common Class A
Common stock par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (shares)	120,000,000	120,000,000
Common stock shares issued (shares)	13,235,082	12,993,118
Common stock shares outstanding (shares)	13,175,356	12,993,118
Common Class B
Common stock par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (shares)	60,000,000	60,000,000
Common stock shares issued (shares)	21,485,126	20,449,484
Common stock shares outstanding (shares)	21,485,126	20,449,484

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands		3 Months Ended				6 Months Ended
		Jun. 30, 2017		Jun. 30, 2016		Jun. 30, 2017		Jun. 30, 2016
Revenues:
Retail revenues	[1],[2]	$ 151,604		$ 110,058		$ 348,104		$ 220,077
Net asset optimization (expense)/revenues	[1],[2],[3]	(168)		(677)		(361)		(150)
Total Revenues	[1],[2]	151,436		109,381		347,743		219,927
Operating Expenses:
Retail cost of revenues	[1],[2],[4]	114,637		56,963		260,398		125,763
General and administrative	[1],[2],[5]	19,346		19,799		43,839		37,179
Depreciation and amortization	[1],[2]	9,656		8,253		18,926		15,042
Total Operating Expenses	[1],[2]	143,639		85,015		323,163		177,984
Operating income	[1],[2]	7,797		24,366		24,580		41,943
Other (expense)/income:
Interest expense	[1],[2]	(2,452)		(832)		(5,897)		(1,585)
Interest and other income	[1],[2]	(265)		195		(66)		100
Total other expenses	[1],[2]	(2,717)		(637)		(5,963)		(1,485)
Income before income tax expense	[1],[2]	5,080		23,729		18,617		40,458
Income tax expense	[1],[2]	409		4,735		2,814		5,723
Net income		4,671	[1],[2]	18,994	[6]	15,803	[1],[2]	34,735	[1],[2]
Less: Net income attributable to non-controlling interests	[1],[2]	3,592		16,653		12,454		28,221
Net income attributable to Spark Energy, Inc. stockholders	[1],[2]	1,079		2,341		3,349		6,514
Less: Accumulated dividend on Series A preferred stock		991		0		1,174		0
Net income attributable to stockholders of Class A common stock		88		2,341		2,175		6,514
Other comprehensive loss, net of tax:
Foreign currency translation adjustment for equity method investee	[1],[2]	(26)		(61)		(75)		(61)
Other comprehensive loss	[1],[2]	(26)		(61)		(75)		(61)
Comprehensive income	[1],[2]	4,645		18,933		15,728		34,674
Less: Comprehensive income attributable to non-controlling interests	[1],[2]	3,576		16,620		12,407		28,188
Comprehensive income attributable to Spark Energy, Inc. stockholders	[1],[2]	$ 1,069		$ 2,313		$ 3,321		$ 6,486
Net income attributable to Spark Energy, Inc. per share of Class A common stock
Basic (in dollars per share)		$ 0.01		$ 0.19		$ 0.17		$ 0.66
Diluted (in dollars per share)		$ 0.01		$ 0.15		$ 0.16		$ 0.57
Weighted average shares of Class A common stock outstanding
Basic (in shares)		13,104		12,086		13,050		9,799
Diluted (in shares)		13,376		13,278		13,257		10,959
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[3]	Net asset optimization revenues (expenses) includes asset optimization revenues—affiliates of $0 and $41 for the three months ended June 30, 2017 and 2016, respectively, and asset optimization revenues—affiliates cost of revenues of $0 and $376 for the three months ended June 30, 2017 and 2016, respectively, and asset optimization revenues—affiliates of $0 and $154 for the six months ended June 30, 2017 and 2016, respectively, and asset optimization revenue—affiliates cost of revenues of $0 and $1,633 for the six months ended June 30, 2017 and 2016, respectively.
[4]	Retail cost of revenues includes retail cost of revenues—affiliates of $0 and less than $100 for the three months ended June 30, 2017 and 2016, respectively, and $0 and less than $100 for the six months ended June 30, 2017 and 2016, respectively.
[5]	General and administrative includes general and administrative expense—affiliates of $6,100 and $4,000 for the three months ended June 30, 2017 and 2016, respectively, and $13,400 and $8,400 for the six months ended June 30, 2017 and 2016, respectively.
[6]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Optimization revenues	[1],[2],[3]	$ (168)	$ (677)	$ (361)	$ (150)
Retail cost of revenues (less than)	[1],[2],[4]	114,637	56,963	260,398	125,763
General and administrative	[1],[2],[5]	19,346	19,799	43,839	37,179
Accumulated dividend on Series A preferred stock		991	0	1,174	0
Affiliates
Optimization revenues		0	41	0	154
Optimization cost of revenues - affiliates		0	376	0	1,633
Retail cost of revenues (less than)		0	100	0	100
General and administrative		$ 6,100	$ 4,000	$ 13,400	$ 8,400
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[3]	Net asset optimization revenues (expenses) includes asset optimization revenues—affiliates of $0 and $41 for the three months ended June 30, 2017 and 2016, respectively, and asset optimization revenues—affiliates cost of revenues of $0 and $376 for the three months ended June 30, 2017 and 2016, respectively, and asset optimization revenues—affiliates of $0 and $154 for the six months ended June 30, 2017 and 2016, respectively, and asset optimization revenue—affiliates cost of revenues of $0 and $1,633 for the six months ended June 30, 2017 and 2016, respectively.
[4]	Retail cost of revenues includes retail cost of revenues—affiliates of $0 and less than $100 for the three months ended June 30, 2017 and 2016, respectively, and $0 and less than $100 for the six months ended June 30, 2017 and 2016, respectively.
[5]	General and administrative includes general and administrative expense—affiliates of $6,100 and $4,000 for the three months ended June 30, 2017 and 2016, respectively, and $13,400 and $8,400 for the six months ended June 30, 2017 and 2016, respectively.

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - 6 months ended Jun. 30, 2017 - USD ($) shares in Thousands, $ in Thousands	Total		Total Stockholders' Equity	Common StockClass A Common Stock	Common StockClass B Common Stock	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Additional Paid-in Capital	Retained Earnings (Deficit)	Non-controlling Interest
Balance at beginning of period (in shares) at Dec. 31, 2016				6,497	10,225
Balance at beginning of period at Dec. 31, 2016	$ 123,736		$ 30,303	$ 65	$ 103	$ 0	$ 11	$ 25,413	$ 4,711	$ 93,433
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	1,195		1,195					1,195
Restricted stock unit vesting (in shares)				121
Restricted stock unit vesting	1,054		1,054	$ 1				1,053
Consolidated net income	15,803	[1],[2]	3,349						3,349	12,454
Foreign currency translation adjustment for equity method investee	(75)	[1],[2]	(28)				(28)			(47)
Distributions paid to non-controlling unit holders	(19,822)									(19,822)
Net contribution by NG&E	210									210
Dividends paid to Class A common stockholders	(4,754)		(4,754)						(4,754)
Dividends to Preferred Stock	(1,174)		(1,174)						(1,174)
Conversion of Convertible Subordinated Notes to Class B Common Stock (in shares)					518
Conversion of Convertible Subordinated Notes to Class B Common Stock	7,795		7,795		$ 5			7,790		0
Treasury shares (in shares)						(60)
Stock Repurchased During Period, Value	1,285		1,285			$ 1,285
Stock split (in shares)				6,617	10,742
Stock Split				$ 66	$ 108			(174)
Balance at end of period (in shares) at Jun. 30, 2017				13,235	21,485
Balance at end of period at Jun. 30, 2017	$ 122,683		$ 36,455	$ 132	$ 216	$ (1,285)	$ (17)	$ 35,277	$ 2,132	$ 86,228
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock (in shares)						(60)
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)		Jun. 30, 2016USD ($)
Cash flows from operating activities:
Net income	$ 15,803	[1],[2]	$ 34,735	[1],[2]
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization expense	18,411	[3]	17,474	[4]
Deferred income taxes	3	[3]	2,597	[4]
Stock based compensation	2,905	[3]	2,442	[4]
Amortization of deferred financing costs	531	[3]	235	[4]
Excess tax benefit related to restricted stock vesting	179	[3]	0	[4]
Change in Fair Value of Earnout liabilities	(2,568)	[3]	1,000	[4]
Accretion on fair value of Major Earnout and Provider Earnout liabilities	2,660	[3]	0	[4]
Bad debt expense	919	[3]	462	[4]
Loss (gain) on derivatives, net	31,473	[3]	(3,496)	[4]
Current period cash settlements on derivatives, net	(11,828)	[3]	(15,829)	[4]
Accretion of discount to convertible subordinated notes to affiliate	1,004	[3]	71	[4]
Other	224	[3]	51	[4]
Changes in assets and liabilities:
Decrease in accounts receivable	18,072	[3]	21,001	[4]
(Increase) decrease in accounts receivable—affiliates	(1,925)	[3]	831	[4]
Decrease in inventory	310	[3]	1,704	[4]
Increase in customer acquisition costs	(12,074)	[3]	(5,356)	[4]
Decrease in prepaid and other current assets	5,394	[3]	2,306	[4]
(Increase) decrease in other assets	(788)	[3]	536	[4]
Decrease in accounts payable and accrued liabilities	(18,422)	[3]	(9,248)	[4]
Increase (decrease) in accounts payable—affiliates	313	[3]	(291)	[4]
Decrease in other current liabilities	(2,862)	[3]	(414)	[4]
Decrease in other non-current liabilities	(328)	[3]	(1,612)	[4]
Net cash provided by operating activities	47,406	[3]	49,199	[4]
Cash flows from investing activities:
Purchases of property and equipment	(371)	[3]	(1,449)	[4]
Payment of the Major Energy Companies Earnout	(7,403)	[3]	0	[4]
Payment of the Provider Companies Earnout and Installment Note	(7,353)	[3]	0	[4]
Acquisitions of Perigee and other customers	(9,353)	[3]	0	[4]
Deposit for Verde Acquisition	(65,785)	[3]	0	[4]
Contribution to equity method investment in eRex Spark	0	[3]	(413)	[4]
Net cash used in investing activities	(90,265)	[3]	(1,862)	[4]
Cash flows from financing activities:
Proceeds from issuance of Series A Preferred Stock, net of issuance costs paid	37,937	[3]	0	[4]
Borrowings on notes payable	121,000	[3]	0	[4]
Payments on notes payable	(93,789)	[3]	(25,152)	[4]
Proceeds from disgorgement of stockholders short-swing profits	666	[3]	580	[4]
Restricted stock vesting	2,009	[3]	909	[4]
Excess tax benefit related to restricted stock vesting	0	[3]	141	[4]
Payment of dividends to Class A common stockholders	(4,754)	[3]	(3,657)	[4]
Payment of distributions to non-controlling unitholders	(19,822)	[3]	(9,967)	[4]
Purchase of Treasury Stock	(1,285)		0	[4]
Net cash provided by (used in) financing activities	37,944	[3]	(38,964)	[4]
(Decrease) increase in Cash and cash equivalents and Restricted cash	(4,915)	[3]	8,373	[4]
Cash and cash equivalents	13,126
Cash and cash equivalents and Restricted cash—beginning of period			4,474	[4]
Cash and cash equivalents and Restricted cash—end of period	14,045	[3]	12,847	[4]
Cash paid during the period for:
Property and equipment purchase accrual	50	[3]	22	[4]
Liability due to tax receivable agreement	0	[3]	27,462	[4]
Tax benefit from tax receivable agreement	0	[3]	31,490	[4]
Interest	1,395	[3]	944	[4]
Taxes	$ 7,232	[3]	$ 1,892	[4]
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[3]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.
[4]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

Formation and Organization

Formation and Organization	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Formation and Organization	1. Formation and Organization Organization Spark Energy, Inc. ("Spark Energy," "Company," "we" or "us") is an independent retail energy services company that provides residential and commercial customers in competitive markets across the United States with an alternative choice for natural gas and electricity. The Company is a holding company whose sole material asset consists of units in Spark HoldCo, LLC (“Spark HoldCo”). Spark HoldCo owns all of the outstanding membership interests or common stock in each of Spark Energy, LLC (“SE”), Spark Energy Gas, LLC (“SEG”), Oasis Power Holdings, LLC ("Oasis"), CenStar Energy Corp. ("CenStar"), Electricity Maine, LLC, Electricity N.H., LLC and Provider Power Mass, LLC (collectively, the "Provider Companies"); Major Energy Services, LLC, Major Energy Electric Services, LLC, and Respond Power, LLC (collectively, the "Major Energy Companies"), and Perigee Energy, LLC ("Perigee"), the operating subsidiaries through which the Company operates. The Company is the sole managing member of Spark HoldCo, is responsible for all operational, management and administrative decisions relating to Spark HoldCo’s business and consolidates the financial results of Spark HoldCo and its subsidiaries. SE is a licensed retail electric provider in multiple states. SE provides retail electricity services to end-use retail customers, ranging from residential and small commercial customers to large commercial and industrial users. SE was formed on February 5, 2002 under the Texas Revised Limited Partnership Act (as recodified by the TBOC) and was converted to a Texas limited liability company on May 21, 2014. SEG is a retail natural gas provider and asset optimization business competitively serving residential, commercial and industrial customers in multiple states. SEG was formed on January 17, 2001 under the Texas Revised Limited Partnership Act (as recodified by the TBOC) and was converted to a Texas limited liability company on May 21, 2014. Oasis, through its operating subsidiary, Oasis Power LLC, is a retail energy provider formed on August 28, 2009 as a limited liability company under the TBOC. We acquired Oasis on July 31, 2015 from an affiliate. CenStar is a retail energy provider incorporated on July 18, 2008 under the New York Business Corporation Law. We acquired CenStar on July 8, 2015. The Provider Companies operate as retail energy providers. Electricity Maine, LLC, Electricity N.H., LLC, and Provider Power Mass, LLC were formed on June 17, 2010, January 20, 2012 and August 22, 2012, respectively, as limited liability companies under the Maine Limited Liability Company Act. We acquired the Provider Companies on August 1, 2016, as described in Note 3 "Acquisitions." The Major Energy Companies operate as retail energy providers. Major Energy Services, LLC, Major Energy Electric Services, LLC and Respond Power, LLC were formed on October 11, 2005, September 12, 2007 and July 11, 2008, respectively, as limited liability companies under the New York Limited Liability Company Law. We completed the purchase of all the outstanding membership interests of the Major Energy Companies on August 23, 2016 from an affiliate, as described in Note 3 "Acquisitions." Perigee is a retail energy provider. Perigee was formed on October 5, 2011 as a Texas limited liability company. We completed the the purchase of all of the outstanding membership interests of Perigee on April 1, 2017 from an affiliate, as described in Note 3 "Acquisitions." We are a Delaware corporation formed on April 22, 2014 for the purpose facilitating an initial public offering ("IPO") of our Class A common stock, par value $0.01 per share ("Class A common stock"), and to become the sole managing member of, and to hold an ownership interest in, Spark HoldCo. In connection with our IPO, NuDevco Retail Holdings LLC ("NuDevco Retail Holdings") formed NuDevco Retail, LLC (“NuDevco Retail”), a single member limited liability company, on May 29, 2014, to hold the remaining Spark HoldCo units and shares of our Class B common stock, par value $0.01 per share ("Class B common stock"). In January 2016, Retailco, LLC ("Retailco") succeeded to the interest of NuDevco Retail Holdings of its Class B common stock and an equal number of Spark HoldCo units it held pursuant to a series of transfers. See Note 4 "Equity" for further discussion. Relationship with our Founder and Majority Shareholder W. Keith Maxwell, III (our "Founder") is the owner of a majority in voting power of our common stock through his ownership of NuDevco Retail and Retailco. Retailco is a wholly owned subsidiary of TxEx Energy Investments, LLC ("TxEx"), which is wholly owned by Mr. Maxwell. NuDevco Retail is a wholly owned subsidiary of NuDevco Retail Holdings, which is a wholly owned subsidiary of Electric HoldCo, LLC, which is also a wholly owned subsidiary of TxEx. Emerging Growth Company Status As a company with less than $1.07 billion in revenues during its last fiscal year, the Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. An emerging growth company may take advantage of specified reduced reporting and other regulatory requirements. The Company will remain an “emerging growth company” until as late as the last day of the Company's 2019 fiscal year, or until the earliest of (i) the last day of the fiscal year in which the Company has $1.07 billion or more in annual revenues; (ii) the date on which the Company becomes a “large accelerated filer” (the fiscal year-end on which the total market value of the Company’s common equity securities held by non-affiliates is $700 million or more as of June 30); (iii) the date on which the Company issues more than $1.0 billion of non-convertible debt over a three -year period. As a result of the Company's election to avail itself of certain provisions of the JOBS Act, the information that the Company provides may be different than what you may receive from other public companies in which you hold an equity interest. Exchange and Registration Rights The Spark HoldCo Third Amended and Restated Limited Liability Company Agreement provides that if the Company issues a new share of Class A common stock, Series A Preferred Stock (as defined below) or other equity security of the Company (other than shares of Class B common stock, and excluding issuances of Class A common stock upon an exchange of Class B common stock or Series A Preferred Stock), Spark HoldCo will concurrently issue a corresponding limited liability company unit either to the holder of the Class B common stock, or to the Company in the case of the issuance of shares of Class A common stock, Series A Preferred Stock or such other equity security. As a result, the number of Spark HoldCo units held by the Company always equals the number of shares of Class A common stock, Series A Preferred Stock or such other equity securities of the Company outstanding. Each share of Class B common stock, all of which are held by NuDevco Retail and Retailco, has no economic rights but entitles the holder to one vote on all matters to be voted on by stockholders generally. Holders of Class A common stock and Class B common stock vote together as a single class on all matters presented to our stockholders for their vote or approval, except as otherwise required by applicable law or by our certificate of incorporation. NuDevco Retail and Retailco have the right to exchange (the “Exchange Right”) all or a portion of their Spark HoldCo units (together with a corresponding number of shares of Class B common stock) for Class A common stock (or cash at Spark Energy, Inc.’s or Spark HoldCo’s election (the “Cash Option”)) at an exchange ratio of one share of Class A common stock for each Spark HoldCo unit (and corresponding share of Class B common stock) exchanged. In addition, NuDevco Retail and Retailco have the right, under certain circumstances, to cause the Company to register the offer and resale of NuDevco Retail's and Retailco's shares of Class A common stock obtained pursuant to the Exchange Right. Retail Acquisition Co., LLC ("RAC") was entitled to similar registration rights under the $2.1 million convertible subordinated note (the "CenStar Note") and $5.0 million convertible subordinated note (the "Oasis Note") prior to their respective conversions to Class B common stock in January 2017. Refer to Note 9 "Debt" for further information.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies The accompanying interim unaudited condensed consolidated financial statements (“interim statements”) of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC"). This information should be read in conjunction with our consolidated financial statements and notes contained in our annual report on Form 10-K for the year ended December 31, 2016 . The Company's unaudited condensed consolidated financial statements are presented on a consolidated basis and include all wholly-owned and controlled subsidiaries. We account for investments over which we have significant influence but not a controlling financial interest using the equity method of accounting. All significant intercompany transactions and balances have been eliminated in the unaudited condensed consolidated financial statements. The preparation of the Company's condensed consolidated financial statements requires estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim financial statements and the reported amounts of revenues and expenses during the period. Actual results could materially differ from those estimates. Effects on the business, financial condition and results of operations resulting from revisions to estimates are recognized when the facts that give rise to the revision become known. The information furnished herein reflects all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the condensed consolidated financial statements. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the full year or for any interim period. Transactions with Affiliates The Company enters into transactions with and pays certain costs on behalf of affiliates that are commonly controlled by W. Keith Maxwell III, and these affiliates enter into transactions with and pay certain costs on our behalf, in order to reduce risk, reduce administrative expense, create economies of scale, create strategic alliances and supply goods and services among these related parties. These transactions include, but are not limited to, certain services to the affiliated companies associated with the Company’s debt facility prior to the IPO, employee benefits provided through the Company’s benefit plans, insurance plans, leased office space, administrative salaries for management due diligence work, recurring management consulting, and accounting, tax, legal, or technology services based on services provided, departmental usage, or headcount, which are considered reasonable by management. As such, the accompanying condensed consolidated financial statements include costs that have been incurred by the Company and then directly billed or allocated to affiliates, and costs that have been incurred by our affiliates and then directly billed or allocated to us, and are recorded net in general and administrative expense on the condensed consolidated statements of operations with a corresponding accounts receivable—affiliates or accounts payable—affiliates, respectively, recorded in the condensed consolidated balance sheets. Additionally, the Company enters into transactions with certain affiliates for sales or purchases of natural gas and electricity, which are recorded in retail revenues, retail cost of revenues, and net asset optimization revenues in the condensed consolidated statements of operations with a corresponding accounts receivable—affiliate or accounts payable—affiliate in the condensed consolidated balance sheets. The allocations and related estimates and assumptions are described more fully in Note 14 "Transactions with Affiliates." Presentation of the Acquisition of Major Energy Companies On April 15, 2016, National Gas & Electric, LLC (“NG&E”), an affiliate of the Company , completed the acquisition of 100% of the membership interests of Major Energy Companies. On May 3, 2016, Spark HoldCo and Retailco entered into a Membership Interest Purchase Agreement (the "Major Purchase Agreement") with NG&E for the purchase of all of the membership interests of the Major Energy Companies. Spark HoldCo and Retailco completed the acquisition of the Major Energy Companies from NG&E on August 23, 2016. As the acquisition of Major Energy Companies was a transfer of equity interest of entities under common control, the Company's historical financial statements for the three and six months ended June 30, 2016 previously filed with the SEC have been recast in this Form 10-Q to include the results attributable to Major Energy Companies from April 15, 2016. The unaudited condensed consolidated financial statements for this recast period have been prepared from Major Energy Companies' historical cost-basis and may not necessarily be indicative of the actual results of operations that would have occurred had the Company owned the Major Energy Companies during the recast period. Presentation of the Acquisition of Perigee Energy, LLC On February 3, 2017, NG&E, an affiliate of the Company, completed the acquisition of 100% of the membership interests of Perigee. On April 1, 2017, the Company and Spark HoldCo completed the purchase of all of the outstanding membership interests of Perigee from NG&E. As the acquisition of Perigee was a transfer of equity interest of entities under common control, the Company's historical financial statements have been recast in this form 10-Q to include the results attributable to Perigee from February 3, 2017. The unaudited condensed consolidated financial statements for this recast period have been prepared from Perigee's historical cost-basis and may not necessarily be indicative of the actual results of operations that would have occurred had the Company owned Perigee during the recast period. Restricted Cash Restricted cash includes cash balances held in escrow, which will be settled as acquired customers are transferred to the Company. Subsequent Events Subsequent events have been evaluated through the date these financial statements are issued. Any material subsequent events that occurred prior to such date have been properly recognized or disclosed in the condensed consolidated financial statements. See Note 16 "Subsequent Events" for further discussion. Recent Accounting Pronouncements Adopted Standards In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718) ("ASU 2016-09"). ASU 2016-09 includes provisions intended to simplify various aspects of accounting for shared-based payments, including income tax consequences, classification of awards as either equity or liability and classification on the statement of cash flows. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2016, with early adoption permitted. The Company adopted ASU 2016-09 on January 1, 2017. The new standard requires prospective recognition of excess tax benefits resulting from stock-based compensation vesting and exercises to be recognized as a reduction of income taxes and reflected in operating cash flows. Previously, these amounts were recognized in additional paid-in capital and presented as a financing activity on the statement of cash flows. Net excess tax benefits of $0.2 million were recognized as a reduction of income taxes for the six months ended June 30, 2017. Prior periods have not been adjusted. The Company has elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. ASU 2016-09 requires that employee taxes paid when an employer withholds shares for tax-withholding purposes to be reported as financing activities in the statement of cash flows. Previously, these cash flows were included in operating activities. The Company has elected to adopt this prospectively, as permitted by ASU 2016-09. This change resulted in a $1.7 million impact on the statement of cash flow for the six months ended June 30, 2017. In October 2016, the FASB issued ASU No. 2016-17, Consolidation (Topic 810): Interests Held through Related Parties that Are under Common Control ("ASU 2016-17"). ASU 2016-17 amends the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity ("VIE") should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. Under ASU 2016-17, a single decision maker of a VIE is required to consider indirect economic interests in the entity held through related parties on a proportionate basis when determining whether it is the primary beneficiary of that VIE. If a single decision maker and its related party are under common control, the single decision maker is required to consider indirect interests in the entity held through those related parties to be the equivalent of direct interests in their entirety. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016 (the Company's first quarter of fiscal 2017), including interim periods within those fiscal years. Early adoption is permitted. The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company adopted ASU 2016-17 effective January 1, 2017, and the adoption had no impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash ("ASU 2016-18"). ASU 2016-18 is intended to add and clarify guidance on the classification and presentation of restricted cash on the statement of cash flows. ASU 2016-18 requires 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. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company adopted ASU 2016-18 effective April 1, 2017, and has included restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Standards Being Evaluated/Standards Not Yet Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The standard permits the use of either the retrospective or cumulative effect transition method. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which deferred the effective date to periods beginning after December 15, 2017. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016. In December 2016, the FASB further issued ASU No. 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, to increase stakeholders' awareness of the proposals and to expedite improvements to ASU 2014-09. The Company plans to adopt the standard using the modified retrospective approach. After assessing the new standard, the Company expects that there will be no material impacts to our revenue recognition procedures. The FASB issued additional amendments to ASU No. 2014-09, as amended by ASU No. 2015-14: • March 2016 - ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ("ASU 2016-08"). ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to customers. • April 2016 - ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ("ASU 2016-10"). ASU 2016-10 covers two specific topics: performance obligations and licensing. This amendment includes guidance on immaterial promised goods or services, shipping or handling activities, separately identifiable performance obligations, functional or symbolic intellectual property licenses, sales-based and usage-based royalties, license restrictions (time, use, geographical) and licensing renewals. • May 2016 - ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow Scope Improvements and Practical Expedients ("ASU 2016-12"). ASU 2016-12 clarifies certain core recognition principles including collectability, sales tax presentation, noncash consideration, contract modifications and completed contracts at transition and disclosures no longer required if the full retrospective transition method is adopted. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) ("ASU 2016-02") . ASU 2016-02 amends the existing accounting standards for lease accounting by requiring entities to include substantially all leases on the balance sheet by requiring the recognition of right-of-use assets and lease liabilities for all leases. Entities may elect to not recognize leases with a maximum possible term of less than 12 months. For lessees, a lease is classified as finance or operating and the asset and liability are initially measured at the present value of the lease payments. For lessors, accounting for leases is largely unchanged from previous guidance. ASU 2016-02 also requires qualitative disclosures along with certain specific quantitative disclosures for both lessees and lessors. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, with early adoption permitted, and are effective for interim periods in the year of adoption. The ASU should be applied using a modified retrospective approach, which requires lessees and lessors to recognize and measure leases at the beginning of the earliest period presented. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments ("ASU 2016-15") . ASU 2016-15 provides guidance on the presentation and classification of eight specific cash flow issues in the statement of cash flows. Those issues are cash payment for debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instrument or other debt instrument with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; cash proceeds from the settlement of insurance claims, cash received from settlement of corporate-owned life insurance policies; distribution received from equity method investees; beneficial interest in securitization transactions; and classification of cash receipts and payments that have aspects of more than one class of cash flows. The guidance is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. This ASU should be applied using a retrospective transition method for each period presented. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (“ASU 2016-16”). ASU 2016-16 requires immediate recognition of the current and deferred income tax consequences of intercompany asset transfers other than inventory. Current U.S. GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2017, with early adoption permitted as of the beginning of an annual reporting period for which financial statements (interim or annual) have not been issued or made available for issuance. This ASU should be applied using a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business ("ASU 2017-01"). ASU 2017-01 clarifies 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. The definition of a business affects many areas of accounting, including acquisitions, disposals, goodwill, and consolidation. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those periods, and the amendments should be applied prospectively on or after the effective date. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the amendments in this update, 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. ASU 2017-04 should be applied on a prospective basis and is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718) ("ASU 2017-09"). ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. An entity should account for the effects of a modification unless all of the following are met: • The fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified • The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified • The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The amendments in ASU 2017-09 are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments should be applied prospectively to an award modified on or after the adoption date. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Acquisitions	3. Acquisitions Acquisition of Perigee On April 1, 2017, the Company and Spark Holdco completed the purchase of all of the outstanding membership interest of Perigee, a Texas limited liability company with operations across 14 utilities in Connecticut, Delaware, Massachusetts, New York and Ohio. The purchase price for Perigee from NG&E was approximately $4.4 million , which consisted of a base price of $2.0 million , $0.2 million additional customer option payment, and $2.2 million in working capital, subject to adjustments. The acquisition of Perigee by the Company and Spark HoldCo from NG&E was a transfer of equity interests of entities under common control on April 1, 2017. Accordingly, the assets acquired and liabilities assumed were based on their historical value as of April 1, 2017. NG&E acquired Perigee on February 3, 2017 and the fair value of the net assets acquired were as follows (in thousands): Cash $ 23 Intangible assets - customer relationships 1,100 Goodwill 1,540 Net working capital, net of cash acquired 2,085 Fair value of derivative liabilities (443 ) Total $ 4,305 The initial working capital estimate paid for Perigee by NG&E was $2.6 million and is subject to adjustment as of June 30, 2017. The Company subsequently paid $2.2 million in working capital to NG&E on April 1, 2017. Finalization of the Company's working capital adjustment with NG&E is still pending as of June 30, 2017, subject to finalization of the working capital estimate as of February 3, 2017. An estimated working capital adjustment between the Company and NG&E of $1.3 million was recorded as of June 30, 2017 and is included in accounts receivable - affiliates. Customer relationships The acquired customer relationships intangibles related to Perigee are reflective of Perigee's customer base, and were valued at the respective dates of acquisition using an excess earnings method under the income approach. Using this method, the Company estimated the future cash flows resulting from the existing customer relationships, considering attrition as well as charges for contributory assets, such as net working capital, fixed assets, and assembled workforce. These future cash flows were then discounted using an appropriate risk-adjusted rate of return by retail unit to arrive at the present value of the expected future cash flows. Goodwill The excess of the purchase consideration over the estimated fair value of the amounts initially assigned to the identifiable assets acquired and liabilities assumed was recorded as goodwill. Goodwill arose on the acquisition of Perigee by NG&E primarily due to the value of Perigee's access to a new utility service territory. Goodwill recorded in connection with the acquisition of Perigee is deductible for income tax purposes because the acquisition of Perigee was an acquisition of all of the assets of Perigee. The valuation and purchase price allocation of Perigee was based on a preliminary fair value analysis performed as of February 3, 2017, the date Perigee was acquired by NG&E. During the measurement period, the Company will record adjustments to the working capital balances upon settlement of the final working capital balances per the terms of the purchase agreement. We have not included pro forma information for Perigee acquisition because it did not have a material impact on our financial position or results of operations. Acquisition of the Provider Companies On August 1, 2016, the Company and Spark HoldCo completed the purchase of all of the outstanding membership interests of the Provider Companies. The Provider Companies serve electrical customers in Maine, New Hampshire and Massachusetts. The purchase price for the Provider Companies was approximately $34.1 million , which included $1.3 million in working capital, subject to adjustments, and up to $9.0 million in earnout payments, valued at $4.8 million as of the purchase date, to be paid by June 30, 2017, subject to the achievement of certain performance targets (the "Provider Earnout"). See Note 10 "Fair Value Measurements" for further discussion on the Provider Earnout, including the final earnout payment made in June 2017. The purchase price was funded by the issuance of 1,399,484 shares of Class B common stock (and a corresponding number of Spark HoldCo units) sold to Retailco, valued at $14.0 million based on a value of $10 per share; borrowings under the Senior Credit Facility of $10.6 million ; and $3.8 million in net installment consideration to be paid in ten monthly payments that commenced in August 2016. The first payment of $0.4 million was made with the initial consideration paid. See Note 9 "Debt" for further discussion of the Senior Credit Facility. The acquisition of the Provider Companies was accounted for under the acquisition method in accordance with ASC 805, Business Combinations (“ASC 805”). The allocation of purchase consideration was based upon the estimated fair value of the tangible and identifiable intangible assets acquired and liabilities assumed in the acquisition. The allocation was made to major categories of assets and liabilities based on management’s best estimates, and supported by independent third-party analyses. The excess of the purchase price over the estimated fair value of tangible and intangible assets acquired and liabilities assumed was allocated to goodwill. The purchase price allocation for the acquisition of the Provider Companies was finalized as of December 31, 2016. Acquisition of the Major Energy Companies On August 23, 2016, the Company and Spark HoldCo completed the transfer of all of the outstanding membership interests of the Major Energy Companies, which are retail energy companies operating in Connecticut, Illinois, Maryland (including the District of Columbia), Massachusetts, New Jersey, New York, Ohio, and Pennsylvania across 43 utilities, from NG&E in exchange for consideration of $63.4 million , which included $4.3 million in working capital, subject to adjustments; an assumed litigation reserve of $5.0 million , and up to $35.0 million in installment and earnout payments, valued at $13.1 million as of the purchase date, to be paid to the previous members of the Major Energy Companies, in annual installments on March 31, 2017, 2018 and 2019, subject to the achievement of certain performance targets (the “Major Earnout”). The Company is obligated to issue up to 400,000 shares of Class B common stock (and a corresponding number of Spark HoldCo units) to NG&E, subject to the achievement of certain performance targets, valued at $0.8 million ( 81,436 shares valued at $10 per share) as of the purchase date (the "Stock Earnout"). See Note 10 "Fair Value Measurements" for further discussion on the Major Earnout and Stock Earnout. The purchase price was funded by the issuance of 4,000,000 shares of Class B common stock (and a corresponding number of Spark HoldCo units) valued at $40.0 million based on a value of $10 per share, to NG&E. NG&E is owned by our Founder. The acquisition of the Major Energy Companies by the Company and Spark HoldCo from NG&E was a transfer of equity interests of entities under common control on August 23, 2016. Accordingly, the assets acquired and liabilities assumed were based on their historical values as of August 23, 2016. NG&E acquired the Major Energy Companies on April 15, 2016 and the fair value of the net assets acquired was as follows (in thousands): Reported as of December 31, 2016 Q1 2017 Adjustments (1) June 30, 2017 Cash $ 17,368 $ — $ 17,368 Property and equipment 14 — 14 Intangible assets - customer relationships & non-compete agreements 24,271 — 24,271 Other assets - trademarks 4,973 — 4,973 Non-current deferred tax assets 1,042 — 1,042 Goodwill 34,728 260 34,988 Net working capital, net of cash acquired (6,746 ) — (6,746 ) Fair value of derivative liabilities (7,260 ) — (7,260 ) Total $ 68,390 $ 260 $ 68,650 (1) Changes to the purchase price allocation in the first quarter of 2017 related to NG&E's working capital settlement with the Major Energy Companies' sellers. No adjustments were recorded subsequent to the first quarter of 2017. The initial working capital estimate paid to the Major Energy Companies by NG&E was $10.3 million . The Company subsequently paid $4.3 million in working capital to NG&E on August 23, 2016. Approximately $6.0 million was recorded as an equity transaction and treated as a contribution on August 23, 2016, revised to $4.9 million and $4.7 million based on the estimated working capital true-up adjustments with NG&E as of March 31, 2017 and December 31, 2016, respectively. An estimated working capital adjustment between the Company and NG&E of $1.4 million was recorded as of December 31, 2016 and is included in accounts payable - affiliates at June 30, 2017 and December 31, 2016. The Stock Earnout of $0.8 million due to NG&E is also reflected as a reduction to equity as of June 30, 2017 and December 31, 2016. Finalization of the Company's working capital adjustment with NG&E was completed prior to April 15, 2017. The fair values of intangible assets were measured primarily based on significant inputs that are not observable in the market and thus represent a Level 3 measurement as defined by ASC 820, Fair Value Measurement ("ASC 820"). The fair value of derivative liabilities were measured by utilizing readily available quoted market prices and non-exchange-traded contracts fair valued using market price quotations available through brokers or over-the-counter and on-line exchanges and represent a Level 2 measurement as defined by ASC 820. Refer to Note 10 "Fair Value Measurements" for further discussion on the fair values hierarchy. Goodwill The excess of the purchase consideration over the estimated fair value of the amounts initially assigned to the identifiable assets acquired and liabilities assumed was recorded as goodwill. Goodwill arose on the acquisition of the Major Energy Companies by NG&E primarily due to the value of the Major Energy Companies brand strength, established vendor relationships and access to new utility service territories. Goodwill recorded in connection with the acquisition of the Major Energy Companies is deductible for income tax purposes because the acquisition of the Major Energy Companies was an acquisition of all of the assets of the Major Energy Companies. The valuation and purchase price allocation of the Major Energy Companies was based on a preliminary fair value analysis performed as of April 15, 2016, the date the Major Energy Companies were acquired by NG&E. During the measurement period, the Company recorded adjustments to the working capital balances upon settlement of the final working capital balances per the terms of the purchase agreement. Goodwill was transferred to the Company based on the acquisition of the Major Energy Companies by NG&E on April 15, 2016. Goodwill recorded in connection with the transfer of the Major Energy Companies is deductible for income tax purposes. In December 2016, certain executives of the Major Energy Companies exercised a change of control provision under employment agreements with the Major Energy Companies. As a result, the Company recorded employment contract termination costs of $4.1 million as of December 31, 2016. The Company paid employment contract termination costs totaling $1.9 million during the six months ended June 30, 2017. As of June 30, 2017, the Company's liability related to the contract termination costs was $2.2 million , to be paid over a 22 month period beginning April 1, 2017.

Equity

Equity	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Equity	4. Equity Non-controlling Interest The Company holds an economic interest and is the sole managing member in Spark HoldCo, with NuDevco Retail and Retailco holding the remaining economic interest in Spark HoldCo. As a result, the Company has consolidated the financial position and results of operations of Spark HoldCo and reflected the economic interest retained by NuDevco Retail and Retailco as a non-controlling interest. The Company and NuDevco Retail and Retailco owned the following economic interests in Spark HoldCo at December 31, 2016 and June 30, 2017 , respectively. Non-controlling Interest Economic Interest The Company NuDevco Retail and Retailco (1) (2) December 31, 2016 38.85 % 61.15 % June 30, 2017 38.12 % 61.88 % . (1) In January 2016, Retailco succeeded to the interest of NuDevco Retail Holdings of its Class B common stock and an equal number of Spark HoldCo units it held pursuant to a series of transfers. (2) In January 2017, Retailco converted the CenStar Note and Oasis Note into 269,462 and 766,180 shares, respectively, of Class B common stock. The following table summarizes the portion of net income and income tax expense (benefit) attributable to non-controlling interest (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Net income allocated to non-controlling interest $ 3,164 $ 16,777 $ 11,569 $ 28,785 Income tax expense (benefit) allocated to non-controlling interest (428 ) 124 (885 ) 564 Net income attributable to non-controlling interest $ 3,592 $ 16,653 $ 12,454 $ 28,221 Stock Split On May 22, 2017, the Company authorized and approved a two-for-one stock split of the Company's issued Class A common stock and Class B common stock, which was effected through a stock dividend (the "Stock Split"). Shareholders of record at the close of business on June 5, 2017 were issued one additional share of Class A common stock or Class B common stock of the Company for each share of Class A common stock or Class B common stock, respectively, held by such shareholder on that date. Such additional shares of Class A common stock or Class B common stock were distributed on June 16, 2017. All shares and per share amounts in this report have been retrospectively restated to reflect the Stock Split. Share Repurchase Program On May 23, 2017, the Company authorized a share repurchase program of up to $50.0 million of Spark Class A common stock through December 31, 2017. The Company funds the program through available cash balances, its credit facilities, and operating cash flows. The shares of Class A common stock may be repurchased from time to time in the open market or in privately negotiated transactions based on ongoing assessments of capital needs, the market price of the Class A common stock, and other factors, including general market conditions. The repurchase program does not obligate Spark to acquire any particular amount of Class A common stock and it may be modified or suspended at any time, and can be terminated prior to completion. The Company uses the cost method to account for its treasury shares. Purchases of shares of Class A common stock are recorded at cost, and the gross cost of the Class A common stock purchased is charged to a contra equity account entitled "Treasury Stock." During the three and six months ended June 30, 2017 , the Company repurchased 59,726 shares of its Class A common stock at a weighted-average price of $21.52 per share, for a total cost of approximately $1.3 million . Class A Common Stock The Company had a total of 13,175,356 and 12,993,118 shares of its Class A common stock outstanding at June 30, 2017 and December 31, 2016 , respectively, and 59,726 and zero shares of treasury stock at June 30, 2017 and December 31, 2016 , respectively. Each share of Class A common stock holds economic rights and entitles its holder to one vote on all matters to be voted on by shareholders generally. All shares and per share amounts in this Quarterly Report on Form 10-Q have been retrospectively restated to reflect the Stock Split. Class B Common Stock The Company has a total of 21,485,126 and 20,449,484 shares of its Class B common stock outstanding at June 30, 2017 and December 31, 2016 , respectively. Each share of Class B common stock, all of which are held by NuDevco Retail and Retailco, have no economic rights but entitles its holder to one vote on all matters to be voted on by shareholders generally. All outstanding shares and per share amounts in this Quarterly Report on Form 10-Q have been retrospectively restated to reflect the Stock Split. Holders of Class A common stock and Class B common stock vote together as a single class on all matters presented to our shareholders for their vote or approval, except as otherwise required by applicable law or by our certificate of incorporation. Conversion of CenStar and Oasis Notes On January 8, 2017 and January 31, 2017, respectively, the CenStar Note and Oasis Note were converted into 269,462 and 766,180 shares of Class B common stock (and related Spark HoldCo units). Refer to Note 9 "Debt" for further discussion. Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income attributable to stockholders (the numerator) by the weighted-average number of Class A common shares outstanding for the period (the denominator). Class B common shares are not included in the calculation of basic earnings per share because they are not participating securities and have no economic interest in the Company. Diluted earnings per share is similarly calculated except that the denominator is increased (1) using the treasury stock method to determine the potential dilutive effect of the Company's outstanding unvested restricted stock units, (2) using the if-converted method to determine the potential dilutive effect of the Company's Class B common stock and (3) using the if-converted method to determine the potential dilutive effect of the outstanding convertible subordinated notes into the Company's Class B common stock. All shares and per share amounts in this Quarterly Report on Form 10-Q have been retrospectively restated to reflect the Stock Split. The following table presents the computation of earnings per share for the three and six months ended June 30, 2017 and 2016 (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Net income attributable to Spark Energy, Inc. stockholders $ 1,079 $ 2,341 $ 3,349 $ 6,514 Less: Accumulated dividend on Series A preferred stock 991 — 1,174 — Net income attributable to stockholders of Class A common stock $ 88 $ 2,341 $ 2,175 $ 6,514 Basic weighted average Class A common shares outstanding 13,104 12,086 13,050 9,799 Basic EPS attributable to stockholders $ 0.01 $ 0.19 $ 0.17 $ 0.66 Net income attributable to stockholders of Class A common stock $ 88 $ 2,341 $ 2,175 $ 6,514 Effect of conversion of Class B common stock to shares of Class A common stock — — — — Effect of conversion of convertible subordinated notes into shares of Class B common stock and shares of Class B common stock into shares of Class A common stock (1) — (332 ) — (312 ) Diluted net income attributable to stockholders of Class A common stock 88 2,009 2,175 6,202 Basic weighted average Class A common shares outstanding 13,104 12,086 13,050 9,799 Effect of dilutive Class B common stock — — — — Effect of dilutive convertible subordinated notes into shares of Class B common stock and shares of Class B common stock into shares of Class A common stock (1) — 986 — 986 Effect of dilutive restricted stock units 272 206 207 174 Diluted weighted average shares outstanding 13,376 13,278 13,257 10,959 Diluted EPS attributable to stockholders $ 0.01 $ 0.15 $ 0.16 $ 0.57 (1) The CenStar Note and Oasis Note converted into 269,462 and 766,180 shares of Class B common stock on January 8, 2017, and January 31, 2017, respectively. The conversion of shares of Class B common stock to shares of Class A common stock was not recognized in dilutive earnings per share for the three and six months ended June 30, 2017 as the effect of the conversion was antidilutive. Variable Interest Entity Spark HoldCo is a variable interest entity due to its lack of rights to participate in significant financial and operating decisions and inability to dissolve or otherwise remove its management. Spark HoldCo owns all of the outstanding membership interests in each of the operating subsidiaries through which the Company operates. The Company is the sole managing member of Spark HoldCo, manages Spark HoldCo's operating subsidiaries through this managing membership interest, and is considered the primary beneficiary of Spark HoldCo. The assets of Spark HoldCo cannot be used to settle the obligations of the Company except through distributions to the Company, and the liabilities of Spark HoldCo cannot be settled by the Company except through contributions to Spark HoldCo. The following table includes the carrying amounts and classification of the assets and liabilities of Spark HoldCo that are included in the Company's condensed consolidated balance sheet as of June 30, 2017 (in thousands): June 30, 2017 Assets Current assets: Cash and cash equivalents $ 13,043 Accounts receivable 95,690 Other current assets 122,590 Total current assets 231,323 Non-current assets: Goodwill 80,947 Other assets 41,927 Total non-current assets 122,874 Total Assets $ 354,197 Liabilities Current liabilities: Accounts payable and Accrued Liabilities $ 74,688 Intercompany payable with Spark Energy, Inc. 23,927 Current portion of Senior Credit Facility 7,500 Contingent consideration 5,856 Other current liabilities 12,060 Total current liabilities 124,031 Long-term liabilities: Long-term portion of Senior Credit Facility 76,500 Subordinated debt — affiliate 15,000 Contingent consideration 3,986 Other long-term liabilities 5,041 Total long-term liabilities 100,527 Total Liabilities $ 224,558

Preferred Stock (Notes)

Preferred Stock (Notes)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Preferred Stock	5. Preferred Stock On March 15, 2017, the Company issued 1,610,000 shares of 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock ("Series A Preferred Stock"), par value $0.01 per share and liquidation preference $25.00 per share, plus accumulated and unpaid dividends, at a price to the public of $25.00 per share ( $24.21 per share to the Company, net of underwriting discounts and commissions). The Company received approximately $39.0 million in net proceeds from the offering, after deducting underwriting discounts and commissions and a structuring fee. Offering expenses of $1.0 million were recorded as a reduction to the carrying value of the Series A Preferred Stock. The net proceeds from the offering were contributed to Spark HoldCo to use for general corporate purposes. Holders of the Series A Preferred Stock have no voting rights, except in specific circumstances of delisting or in the case the dividends are in arrears as specified in the Series A Preferred Stock Certificate of Designations. From March 15, 2017, the Series A Preferred Stock issuance date, to, but not including, April 15, 2022, the Series A Preferred Stock will accrue dividends at an annual percentage rate of three-month LIBOR plus 6.578% . The liquidation preference provisions of the Series A Preferred Stock were considered contingent redemption provisions because there were certain rights granted to the holders of the Series A Preferred Stock that were not solely within the control of the Company upon a change in control of the Company. Accordingly, the Series A Preferred Stock is presented within the mezzanine portion of the accompanying consolidated balance sheet. The Company had a total of 1,610,000 shares of Series A Preferred Stock issued and outstanding at June 30, 2017 and no shares of Series A Preferred Stock issued and outstanding at December 31, 2016 . As of June 30, 2017 , the Company had accrued $1.2 million related to dividends to holders of Spark's Series A Preferred Stock. This dividend was paid on July 15, 2017. A summary of the Company's mezzanine equity for the six months ended June 30, 2017 is as follows: (in thousands) Mezzanine equity at December 31, 2016 $ — Issuance of Series A Preferred Stock, net of issuance cost 37,937 Accumulated dividends on Series A Preferred Stock 1,174 Mezzanine equity at June 30, 2017 $ 39,111 In connection with the issuance of the Series A Preferred Stock, the Company and Spark HoldCo entered into the Third Amended and Restated Spark HoldCo Limited Liability Company Agreement to amend the prior agreement to provide for, among other things, the designation and issuance of Spark HoldCo Series A preferred units, as another equity security of Spark HoldCo to be issued concurrently with the issuance of Series A Preferred Stock by the Company, including specific terms relating to distributions by Spark HoldCo in connection with the payment by the Company of dividends on the Series A Preferred Stock, the priority of liquidating distributions by Spark HoldCo, the allocation of income and loss to the Company in connection with distributions by Spark HoldCo on Series A preferred units, and other terms relating to the redemption and conversion by the Company of the Series A Preferred Stock.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	6. Property and Equipment Property and equipment consist of the following amounts as of (in thousands): Estimated useful June 30, 2017 December 31, 2016 Information technology 2 – 5 $ 29,998 $ 29,675 Leasehold improvements 2 – 5 4,568 4,568 Furniture and fixtures 2 – 5 1,026 1,024 Total 35,592 35,267 Accumulated depreciation (31,599 ) (30,561 ) Property and equipment—net $ 3,993 $ 4,706 Information technology assets include software and consultant time used in the application, development and implementation of various systems including customer billing and resource management systems. As of June 30, 2017 and December 31, 2016 , information technology includes $1.3 million and $1.1 million , respectively, of costs associated with assets not yet placed into service. Depreciation expense recorded in the condensed consolidated statements of operations was $0.5 million and $0.5 million for the three months ended June 30, 2017 and 2016 , respectively, and $1.0 million and $0.9 million for the six months ended June 30, 2017 and 2016 , respectively.

Goodwill, Customer Relationship

Goodwill, Customer Relationships and Trademarks	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Customer Relationships and Trademarks	5 years 5,252 Total $ 39,541" id="sjs-B4">7. Goodwill, Customer Relationships and Trademarks Goodwill, customer relationships and trademarks consist of the following amounts as of (in thousands): June 30, 2017 December 31, 2016 Goodwill $ 80,947 $ 79,147 Customer relationships - Acquired (1) Cost $ 64,671 $ 63,571 Accumulated amortization (37,476 ) (31,660 ) Customer relationships - Acquired, net $ 27,195 $ 31,911 Customer relationships - Other (2) Cost $ 9,828 $ 4,320 Accumulated amortization (3,580 ) (2,708 ) Customer relationships - Other, net $ 6,248 $ 1,612 Trademarks (3) Cost $ 6,770 $ 6,770 Accumulated amortization (672 ) (431 ) Trademarks, net $ 6,098 $ 6,339 (1) Customer relationships - Acquired represent those customer acquisitions accounted for under the acquisition method in accordance with ASC 805. See Note 3 "Acquisitions" for further discussion. (2) Customer relationships - Other represent portfolios of customer contracts not accounted for in accordance with ASC 805 as these acquisitions were not in conjunction with the acquisition of businesses. (3) Trademarks reflect values associated with the recognition and positive reputation of acquired businesses accounted for as part of the acquisition method in accordance with ASC 805 through the acquisitions of CenStar, Oasis, the Provider Companies and the Major Energy Companies. These trademarks are recorded as other assets in the condensed consolidated balance sheets. See Note 3 "Acquisitions" for further discussion. Changes in goodwill, customer relationships and trademarks consisted of the following (in thousands): Goodwill (1) Customer Relationships - Acquired Customer Relationships - Others Trademarks Balance at December 31, 2016 $ 79,147 $ 31,911 $ 1,612 $ 6,339 Additions (Major Working Capital Adjustment) 260 — — — Additions (Perigee) 1,540 1,100 5,508 — Amortization expense — (5,816 ) (872 ) (241 ) Balance at June 30, 2017 $ 80,947 $ 27,195 $ 6,248 $ 6,098 (1) Changes in goodwill in the six months ended June 30, 2017 include NG&E's working capital settlement with the Major Energy Companies' sellers of $0.3 million and Perigee's goodwill of $1.5 million . The acquired customer relationship intangibles related to the Major Energy Companies and the Provider Companies were bifurcated between hedged and unhedged customer contracts. The unhedged customer contracts are amortized to depreciation and amortization based on the expected future cash flows by year. The hedged customer contracts were evaluated for favorable or unfavorable positions at the time of acquisition and amortized to retail cost of revenue based on the expected term and position of the underlying fixed price contract in each reporting period. Customer relationship amortization expense for the three and six months ended June 30, 2017 was $3.6 million and $5.8 million , respectively, which is net of $0.6 million amortization expense and $0.5 million amortization gain, respectively, included in cost of revenues. Estimated future amortization expense for customer relationships and trademarks at June 30, 2017 is as follows (in thousands): Year ending December 31, 2017 $ 7,257 2018 12,393 2019 7,948 2020 3,880 2021 2,811 > 5 years 5,252 Total $ 39,541

Customer Acquisitions (Notes)

Customer Acquisitions (Notes)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Customer Acquisitions	8. Customer Acquisitions On April 3, 2017, the Company and Spark HoldCo exercised an option to acquire approximately 41,000 RCEs from a third party for a purchase price of approximately $7.0 million , of which $4.9 million has been paid. The purchase price was capitalized as customer relationships and is being amortized over a three year period as customers begin using electricity under a contract with the Company.

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt	9. Debt Debt consists of the following amounts (in thousands): June 30, 2017 December 31, 2016 Current Portion of Senior Credit Facility - Bridge Loan $ 7,500 $ — Current portion of Prior Senior Credit Facility—Working Capital Line (1) (2) $ — $ 29,000 Current portion of Prior Senior Credit Facility—Acquisition Line (2) — 22,287 Current portion of Note Payable—Pacific Summit Energy — 15,501 Convertible subordinated notes to affiliate — 6,582 Total current debt 7,500 73,370 Long-term portion of Senior Credit Facility 76,500 — Subordinated Debt 15,000 5,000 Total long-term debt 91,500 5,000 Total debt $ 99,000 $ 78,370 (1) As of June 30, 2017 and December 31, 2016 , the Company had $33.7 million and $29.6 million in letters of credit issued, respectively. (2) As of June 30, 2017 and December 31, 2016 , the weighted average interest rate on the current portion of our Senior Credit Facility was 4.62% and 4.93% , respectively. Deferred financing costs were $1.6 million and $0.4 million as of June 30, 2017 and December 31, 2016 , respectively. Of these amounts, $0.8 million and $0.4 million is recorded in other current assets in the condensed consolidated balance sheet as of June 30, 2017 and December 31, 2016, respectively, and $0.8 million and zero is recorded in other assets in the condensed consolidated balance sheets as of June 30, 2017 and December 31, 2016, respectively, representing capitalized financing costs related to our Senior Credit Facility and Prior Senior Credit Facility. Interest expense consists of the following components for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Interest incurred on Senior Credit Facility (1) $ 543 $ 405 $ 1,237 $ 723 Accretion related to Earnouts (2) 1,433 — 2,660 — Letters of credit fees and commitment fees 193 183 417 375 Amortization of deferred financing costs 283 117 531 234 Interest incurred on convertible subordinated notes to affiliate (3) — 127 1,052 253 Interest Expense $ 2,452 $ 832 $ 5,897 $ 1,585 (1) Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion. (2) Includes accretion related to the Provider Earnout of less than $0.1 million and the Major Earnout of $1.4 million for the three months ended June 30, 2017 , and accretion related to the Provider Earnout of $0.1 million and the Major Earnout of $2.6 million for the six months ended June 30, 2017 . (3) Includes amortization of the discount on the convertible subordinated notes to affiliates of $0.0 million and $0.0 million , respectively, for the three and six months ended June 30, 2017 , and amortization of the discount on the convertible subordinated notes to affiliates of less than $0.1 million and $0.1 million , respectively, for the three and six months ended June 30, 2016 . Prior Senior Credit Facility The Company, as guarantor, and Spark HoldCo (the “Borrower,” and together with Spark Energy, LLC, Spark Energy Gas, LLC, CenStar Energy Corp, CenStar Operating Company, LLC, Oasis, Oasis Power, LLC, Electricity Maine, LLC, Electricity N.H., LLC, and Provider Power Mass, LLC, each a subsidiary of Spark HoldCo, the “Co-Borrowers”) were party to a senior secured revolving credit facility (“Prior Senior Credit Facility”), which included a senior secured revolving working capital facility up to $82.5 million ("Working Capital Line") and a secured revolving line of credit of $25.0 million ("Acquisition Line") to be used specifically for the financing of up to 75% of the cost of acquisitions with the remainder to be financed by the Company either through cash on hand or the issuance of subordinated debt or equity. The Prior Senior Credit Facility had a maturity date of July 8, 2017. The outstanding balances under the Working Capital Line and the Acquisition Line were paid in full on May 19, 2017 upon execution of the Company's new Senior Credit Facility. Senior Credit Facility On May 19, 2017 (the “Closing Date”), the Company, as guarantor, and Spark HoldCo (the “Borrower” and, together with SE, SEG, CenStar, CenStar Operating Company, LLC, Oasis, Oasis Power, LLC, the Provider Companies, the Major Energy Companies and Perigee Energy, LLC, each subsidiaries of Spark HoldCo, the “Co-Borrowers”), entered into a senior secured borrowing base credit facility (the “Senior Credit Facility”) in an aggregate amount of $120.0 million . The Co-Borrowers are entitled to request an increase in the Senior Credit Facility amount up to $150.0 million provided that, among other things, (i) no event of default or default exists or would exist after giving effect thereto and (ii) evidence of the Co-Borrowers’ compliance with financial covenants on a pro forma basis before and after giving effect to such increase. Subject to applicable sublimits and terms of the Senior Credit Facility, borrowings are available for the issuance of letters of credit (“Letters of Credit”), working capital and general purpose revolving credit loans up to $85.0 million (“Working Capital Loans”), and bridge loans up to $30.0 million (“Bridge Loans”) for the purpose of partial funding for acquisitions. Borrowings under the Senior Credit Facility may be used to refinance loans outstanding under the previous Senior Credit Facility, pay fees and expenses in connection with the current Senior Credit Facility, finance ongoing working capital requirements and general corporate purpose requirements of the Co-Borrowers, to provide partial funding for acquisitions, as allowed under terms of the Senior Credit Facility, and to make open market purchases of the Company’s Class A common stock. The Senior Credit Facility will mature on May 19, 2019, and all amounts outstanding thereunder will be payable on the maturity date. Borrowings under the Bridge Loan sublimit will be repaid 25% per year, with the remainder due at maturity. At our election, the interest rate for Working Capital Loans and Letters of Credit under the Senior Credit Facility is generally determined by reference to: • the Eurodollar rate plus an applicable margin of up to 3.00% per annum (based on the prevailing utilization); or • the alternate base rate plus an applicable margin of up to 2.00% per annum (based on the prevailing utilization). The alternate base rate is equal to the highest of (i) the prime rate (as published in the Wall Street Journal), (ii) the federal funds rate plus 0.50% per annum, or (iii) the reference Eurodollar rate plus 1.00% . Bridge Loan borrowings, if any, under the Senior Credit Facility are generally determined by reference to: • the Eurodollar rate plus an applicable margin of 3.75% per annum; or • the alternate base rate plus an applicable margin of 2.75% per annum. The alternate base rate is equal to the highest of (i) the prime rate (as published in the Wall Street Journal), (ii) the federal funds rate plus 0.50% per annum, or (iii) the reference Eurodollar rate plus 1.00% . The Co-Borrowers will pay a commitment fee of 0.50% quarterly in arrears on the unused portion of the Senior Credit Facility. In addition, the Co-Borrowers will be subject to additional fees including an upfront fee, an annual agency fee, and letter of credit fees based on a percentage of the face amount of letters of credit payable to any syndicate member that issues a letter a credit. The Senior Credit Facility contains covenants that, among other things, require the maintenance of specified ratios or conditions as follows: • Minimum Fixed Charge Coverage Ratio . Spark Energy, Inc. must maintain a minimum fixed charge coverage ratio of not less than 1.25 to 1.00. The Fixed Charge Coverage Ratio is defined as the ratio of (a) Adjusted EBITDA to (b) the sum of consolidated (with respect to the Company and the Co-Borrowers) interest expense (other than interest paid-in-kind in respect of any Subordinated Debt but including interest in respect of that certain promissory note made by Censtar Energy Corp in connection with the permitted acquisition from Verde Energy USA Holdings, LLC), letter of credit fees, commitment fees, acquisition earn-out payments (excluding earnout payments funded with proceeds from newly issued preferred or common equity of the Company), distributions, the aggregate amount of repurchases of the Company’s Class A common stock or commitments for such purchases, taxes and scheduled amortization payments. • Maximum Total Leverage Ratio . Spark Energy, Inc. must maintain a ratio of total indebtedness (excluding eligible subordinated debt) to Adjusted EBITDA of no more than 2.00 to 1.00. The Senior Credit Facility contains various negative covenants that limit the Company’s ability to, among other things, do any of the following: • incur certain additional indebtedness; • grant certain liens; • engage in certain asset dispositions; • merge or consolidate; • make certain payments, distributions, investments, acquisitions or loans; • materially modify certain agreements; or • enter into transactions with affiliates. The Senior Credit Facility is secured by pledges of the equity of the portion of Spark HoldCo owned by the Company, the equity of Spark HoldCo’s subsidiaries, the Co-Borrowers’ present and future subsidiaries, and substantially all of the Co-Borrowers’ and their subsidiaries’ present and future property and assets, including accounts receivable, inventory and liquid investments, and control agreements relating to bank accounts. Spark Energy, Inc. is entitled to pay cash dividends to the holders of the Series A Preferred Stock and Class A common stock and will be entitled to repurchase up to an aggregate amount of 10,000,000 shares of the Company’s Class A common stock through one or more normal course open market purchases through NASDAQ so long as: (a) no default exists or would result therefrom; (b) the Co-Borrowers are in pro forma compliance with all financial covenants before and after giving effect thereto; and (c) the outstanding amount of all loans and letters of credit does not exceed the borrowing base limits. The Senior Credit Facility contains certain customary representations and warranties and events of default. Events of default include, among other things, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults and cross-acceleration to certain indebtedness, certain events of bankruptcy, certain events under ERISA, material judgments in excess of $5.0 million , certain events with respect to material contracts, actual or asserted failure of any guaranty or security document supporting the Senior Credit Facility to be in full force and effect, failure of Nathan Kroeker to retain his position as President and Chief Executive Officer of the Company, and failure of W. Keith Maxwell III to retain his position as chairman of the board of directors. A default will also occur if at any time W. Keith Maxwell III ceases to, directly or indirectly, own at least 13,600,000 Class A and Class B shares on a combined basis (to be adjusted by any stock split, subdivisions or other stock reclassification or recapitalization), and a controlling percentage of the voting equity interest of the Company, and certain other changes in control. If such an event of default occurs, the lenders under the Senior Credit Facility would be entitled to take various actions, including the acceleration of amounts due under the facility and all actions permitted to be taken by a secured creditor. In addition, the Senior Credit Facility contains affirmative covenants that are customary for credit facilities of this type. The covenants include delivery of financial statements, including any filings made with the SEC, maintenance of property and insurance, payment of taxes and obligations, material compliance with laws, inspection of property, books and records and audits, use of proceeds, payments to bank blocked accounts, notice of defaults and certain other customary matters. Convertible Subordinated Notes to Affiliate In connection with the financing of the CenStar acquisition, the Company, together with Spark HoldCo, issued the CenStar Note to RAC for $2.1 million on July 8, 2015. The CenStar Note matures on July 8, 2020, and bears interest at an annual rate of 5% , payable semiannually. The Company has the right to pay interest in kind at its option. The CenStar Note is convertible into shares of the Company’s Class B common stock, par value $0.01 per share (and a related unit of Spark HoldCo) at a conversion price of $8.285 per share. RAC may not exercise conversion rights for the first eighteen months after the CenStar Note is issued. The CenStar Note is subject to automatic conversion upon a sale of the Company. The CenStar Note is subordinated in certain respects to the Senior Credit Facility pursuant to a subordination agreement. The Company may pay interest and prepay principal so long as the Company is in compliance with its covenants; is not in default under the Senior Credit Facility and has minimum availability of $5.0 million under its borrowing base under the Senior Credit Facility. Shares of Class A common stock resulting from the conversion of the shares of Class B common stock issued as a result of the conversion right under the CenStar Note will be entitled to registration rights identical to the registration rights currently held by NuDevco Retail and Retailco on shares of Class A common stock it receives upon conversion of its existing shares of Class B common stock. On October 5, 2016, RAC issued to the Company an irrevocable commitment to convert the CenStar Note into 269,462 shares of Class B common stock. RAC assigned the CenStar Note to Retailco on January 4, 2017, and on January 8, 2017, the CenStar Note was converted into 269,462 shares of Class B common stock. In connection with the financing of the Oasis acquisition, the Company, together with Spark HoldCo, issued the Oasis Note to RAC for $5.0 million on July 31, 2015. The Oasis Note matures on July 31, 2020, and bears interest at an annual rate of 5% , payable semiannually. The Company has the right to pay-in-kind any interest at its option. The Oasis Note is convertible into shares of the Company's Class B common stock, par value $0.01 per share (and a related unit of Spark HoldCo) at a conversion price of $7.00 per share. RAC may not exercise conversion rights for the first eighteen months after the Oasis Note is issued. The Oasis Note is subject to automatic conversion upon a sale of the Company. The Oasis Note is subordinated in certain respects to the Senior Credit Facility pursuant to a subordination agreement. The Company may pay interest and prepay principal so long as the Company is in compliance with its covenants; is not in default under the Senior Credit Facility and has minimum availability of $5.0 million under its borrowing base under the Senior Credit Facility. Shares of Class A common stock resulting from the conversion of the shares of Class B common stock issued as a result of the conversion right under the Oasis Note will be entitled to registration rights identical to the registration rights currently held by NuDevco Retail and Retailco on shares of Class A common stock it receives upon conversion of its existing shares of Class B common stock. On October 5, 2016, RAC issued to the Company an irrevocable commitment to convert the Oasis Note into 766,180 shares of Class B common stock. RAC assigned the Oasis Note to Retailco on January 4, 2017, and on January 31, 2017 the Oasis Note was converted into 766,180 shares of Class B common stock. The conversion rate of $7.00 per share for the Oasis Note was fixed as of the date of the execution of the Oasis acquisition agreement on May 12, 2015. Due to a rise in the price of our common stock from May 12, 2015 to the closing of Oasis acquisition on July 31, 2015, the conversion rate of $7.00 per share was below the market price per share of Class A common stock of $8.11 on the issuance date of the Oasis Note on July 31, 2015. As a result, the Company assessed the Oasis Note for a beneficial conversion feature. Due to this conversion feature being "in-the-money" upon issuance, we recognized a beneficial conversion feature based on its intrinsic value of $0.8 million as a discount to the Oasis Note and as additional paid-in capital. This discount was amortized as interest expense under the effective interest method over the life of the Oasis Note through the conversion on January 31, 2017, at which time the remaining $1.0 million beneficial conversion feature was written-off and recognized as interest expense. Subordinated Debt Facility On December 27, 2016, we and Spark HoldCo jointly issued to Retailco, an entity owned by our Founder, a 5% subordinated note in the principal amount of up to $25.0 million . The subordinated note allows the Company and Spark HoldCo to draw advances in increments of no less than $1.0 million per advance up to the maximum principal amount of the subordinated note. The subordinated note matures approximately three and a half years following the date of issuance, and advances thereunder accrue interest at 5% per annum from the date of the advance. The Company has the right to capitalize interest payments under the subordinated note. The subordinated note is subordinated in certain respects to the Company's Senior Credit Facility pursuant to a subordination agreement. The Company may pay interest and prepay principal on the subordinated note so long as it is in compliance with its covenants under the Senior Credit Facility, is not in default under the Senior Credit Facility and has minimum availability of $5.0 million under the borrowing base under the Senior Credit Facility. Payment of principal and interest under the subordinated note is accelerated upon the occurrence of certain change of control or sale transactions. As of June 30, 2017 , there was $15.0 million outstanding borrowings under the subordinated note, and at December 31, 2016 , there was $5.0 million in outstanding borrowings under the subordinated note. Pacific Summit Energy LLC Prior to March 31, 2017, the Major Energy Companies were party to three trade credit arrangements with Pacific Summit Energy LLC (“Pacific Summit”), which consisted of purchase agreements, operating agreements relating to purchasing terms, security agreements, lockbox agreements and guarantees, and provided for the exclusive supply of gas and electricity on credit by Pacific Summit to the Major Energy Companies for resale to end users. Under these arrangements, when the costs that Pacific Summit paid to procure and deliver the gas and electricity exceeded the payments that the Major Energy Companies made attributable to the gas and electricity purchased, the Major Energy Companies incurred interest on the difference. The operating agreements also allowed Pacific Summit to provide credit support. Each form of borrowing incurred interest at the floating 90-day LIBOR rate plus 300 basis points (except for certain credit support guaranties that did not bear interest). In connection with these arrangements, the Major Companies granted first liens to Pacific Summit on a substantial portion of the Major Companies’ assets, including present and future accounts receivable, inventory, liquid assets, and control agreements relating to bank accounts. As of December 31, 2016, the Company had aggregate outstanding amounts payable under these arrangements of approximately $15.5 million , bearing an interest rate of approximately 4.0% . The Company was also the beneficiary under various credit support guarantees issued by Pacific Summit under these arrangements as of such date. On September 27, 2016, we notified Pacific Summit of our election to trigger the expiration of these arrangements. On March 31, 2017 the agreements were terminated.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants at the measurement date. Fair values are based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. This includes not only the credit standing of counterparties involved and the impact of credit enhancements but also the impact of the Company’s own nonperformance risk on its liabilities. The Company applies fair value measurements to its commodity derivative instruments and a contingent payment arrangement based on the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: • Level 1—Quoted prices in active markets for identical assets and liabilities. Instruments categorized in Level 1 primarily consist of financial instruments such as exchange-traded derivative instruments. • Level 2—Inputs other than quoted prices recorded in Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 primarily include non-exchange traded derivatives such as over-the-counter commodity forwards and swaps and options. • Level 3—Unobservable inputs for the asset or liability, including situations where there is little, if any, observable market activity for the asset or liability. The Level 3 category includes estimated earnout obligations related to the Company's acquisitions. As the fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3), the Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. In these cases, the lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents assets and liabilities measured and recorded at fair value in the Company’s condensed consolidated balance sheets on a recurring basis by and their level within the fair value hierarchy as of (in thousands): Level 1 Level 2 Level 3 Total June 30, 2017 Non-trading commodity derivative assets $ — $ 487 $ — $ 487 Trading commodity derivative assets 67 403 — 470 Total commodity derivative assets $ 67 $ 890 $ — $ 957 Non-trading commodity derivative liabilities $ (160 ) $ (10,394 ) $ — $ (10,554 ) Trading commodity derivative liabilities (51 ) (53 ) — (104 ) Total commodity derivative liabilities $ (211 ) $ (10,447 ) $ — $ (10,658 ) Contingent payment arrangement $ — $ — $ (9,842 ) $ (9,842 ) Level 1 Level 2 Level 3 Total December 31, 2016 Non-trading commodity derivative assets $ 1,511 $ 9,385 $ — $ 10,896 Trading commodity derivative assets 101 430 — 531 Total commodity derivative assets $ 1,612 $ 9,815 $ — $ 11,427 Non-trading commodity derivative liabilities $ — $ (661 ) $ — $ (661 ) Trading commodity derivative liabilities — (87 ) — (87 ) Total commodity derivative liabilities $ — $ (748 ) $ — $ (748 ) Contingent payment arrangement $ — $ — $ (22,653 ) $ (22,653 ) The Company had no transfers of assets or liabilities between any of the above levels during the six months ended June 30, 2017 and the year ended December 31, 2016 . The Company’s derivative contracts include exchange-traded contracts fair valued utilizing readily available quoted market prices and non-exchange-traded contracts fair valued using market price quotations available through brokers or over-the-counter and on-line exchanges. In addition, in determining the fair value of the Company’s derivative contracts, the Company applies a credit risk valuation adjustment to reflect credit risk, which is calculated based on the Company’s or the counterparty’s historical credit risks. As of June 30, 2017 and December 31, 2016 , the credit risk valuation adjustment was not material. The contingent payment arrangements referred to above reflect estimated earnout obligations incurred in relation to the Company's acquisitions. As of June 30, 2017 , the estimated earnout obligations were $9.8 million , which was comprised of the Major Earnout and the Stock Earnout in the amount of $9.8 million , and less than $0.1 million , respectively. The final Provider Earnout payment was paid in June 2017. As of December 31, 2016 , the estimated earnout obligations were $22.7 million , which was comprised of the Provider Earnout, the Major Earnout and the Stock Earnout in the amount of $4.9 million , $17.1 million , and $0.7 million , respectively. As of June 30, 2017 , the estimated earnouts are recorded on our condensed consolidated balance sheets in current liabilities - contingent consideration and long-term liabilities - contingent consideration in the amount of $5.8 million and $4.0 million , respectively; and as of December 31, 2016 , in current liabilities - contingent consideration and long-term liabilities - contingent consideration in the amount of $11.8 million and $10.8 million , respectively. The Provider Earnout was based on achievement by the Provider Companies of a certain customer count criteria over the nine month period following the closing of the Provider Companies acquisition. The sellers of the Provider Companies were entitled to a maximum of $9.0 million and a minimum of $5.0 million in earnout payments based on the level of customer count attained, as defined by the Provider Companies membership interest purchase agreement. In March and June 2017, the Company paid the sellers of the Provider Companies $1.0 million and $4.5 million , respectively, related to the earnout based on the achievement of certain customer count and sales targets. During the three and six months ended June 30, 2017 , the Company recorded accretion of less than $0.1 million and $0.1 million , respectively, to reflect the impact of the time value of the liability prior to the final payment in June 2017. The Company additionally recorded $0.5 million of general and administrative expense related to the change in fair value of the earnout prior to the final payment in June 2017. The Major Earnout is based on the achievement by the Major Energy Companies of certain performance targets over the 33 month period following NG&E's closing of the Major Energy Companies acquisition (i.e., April 15, 2016). The previous members of Major Energy Companies are entitled to a maximum of $20.0 million in earnout payments based on the level of performance targets attained, as defined by the Major Purchase Agreement. The Stock Earnout obligation is contingent upon the Major Energy Companies achieving the Major Earnout's performance target ceiling, thereby earning the maximum Major Earnout payments. If the Major Energy Companies earn such maximum Major Earnout payments, NG&E would be entitled to a maximum of 400,000 shares of Class B common stock (and a corresponding number of Spark HoldCo units). Based on the financial results of the Major Energy Companies during the first earnout period, NG&E was not entitled to receive an issuance of shares of Class B common stock (and a corresponding number of SparkHoldCo units). In determining the fair value of the Major Earnout and the Stock Earnout, the Company forecasted certain expected performance targets and calculated the probability of such forecast being attained. In March 2017, the Company paid the previous members of the Major Energy Companies $7.4 million related to the period from April 15, 2016 through December 31, 2016. During the three and six months ended June 30, 2017 , the Company recorded accretion of $1.4 million and $2.6 million , respectively, to reflect the impact of the time value of the liability. The Company revalued the liability at June 30, 2017, resulting in the decrease of the fair value of the liability to $9.8 million . The impact of the $3.1 million decrease in fair value is recorded in general and administrative expenses. As this calculation is based on management's estimates of the liability, we classified the Major Earnout as a Level 3 measurement. The following tables present reconciliations of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended June 30, 2017 and December 31, 2016 . Major Earnout and Stock Earnout Provider Earnout Total Fair value at December 31, 2016 $ 17,760 $ 4,893 $ 22,653 Change in fair value of contingent consideration, net (3,068 ) 500 (2,568 ) Accretion of contingent earnout consideration (included within interest expense) 2,553 107 2,660 Payments (1) (7,403 ) (5,500 ) (12,903 ) Fair Value at June 30, 2017 $ 9,842 $ — $ 9,842 (1) Payments include pay downs at maturity Other Financial Instruments The carrying amount of cash and cash equivalents, accounts receivable, accounts receivable—affiliates, accounts payable, accounts payable—affiliates, and accrued liabilities recorded in the condensed consolidated balance sheets approximate fair value due to the short-term nature of these items. The carrying amounts of the Senior Credit Facility and Prior Senior Credit Facility recorded in the condensed consolidated balance sheets approximate fair value because of the variable rate nature of the Company’s line of credit. The fair value of our convertible subordinated notes to affiliates is not determinable for accounting purposes due to the affiliate nature and terms of the associated debt instrument with the affiliate. The fair value of the payable pursuant to tax receivable agreement—affiliate is not determinable for accounting purposes due to the affiliate nature and terms of the associated agreement with the affiliate.

Accounting for Derivative Instr

Accounting for Derivative Instruments	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Accounting for Derivative Instruments	11. Accounting for Derivative Instruments The Company is exposed to the impact of market fluctuations in the price of electricity and natural gas and basis costs, storage and ancillary capacity charges from independent system operators. The Company uses derivative instruments to manage exposure to these risks, and historically designated certain derivative instruments as cash flow hedges for accounting purposes. The Company holds certain derivative instruments that are not held for trading purposes and are not designated as hedges for accounting purposes. These derivative instruments represent economic hedges that mitigate the Company’s exposure to fluctuations in commodity prices. For these derivative instruments, changes in the fair value are recognized currently in earnings in retail revenues or retail cost of revenues. As part of the Company’s strategy to optimize its assets and manage related risks, it also manages a portfolio of commodity derivative instruments held for trading purposes. The Company’s commodity trading activities are subject to limits within the Company’s Risk Management Policy. For these derivative instruments, changes in the fair value are recognized currently in earnings in net asset optimization revenues. Derivative assets and liabilities are presented net in the Company’s condensed consolidated balance sheets when the derivative instruments are executed with the same counterparty under a master netting arrangement. The Company’s derivative contracts include transactions that are executed both on an exchange and centrally cleared as well as over-the-counter, bilateral contracts that are transacted directly with a third party. To the extent the Company has paid or received collateral related to the derivative assets or liabilities, such amounts would be presented net against the related derivative asset or liability’s fair value. As of June 30, 2017 and December 31, 2016 , the Company had paid $0.3 million and zero in collateral outstanding, respectively. The specific types of derivative instruments the Company may execute to manage the commodity price risk include the following: • Forward contracts, which commit the Company to purchase or sell energy commodities in the future; • Futures contracts, which are exchange-traded standardized commitments to purchase or sell a commodity or financial instrument; • Swap agreements, which require payments to or from counterparties based upon the differential between two prices for a predetermined notional quantity; and • Option contracts, which convey to the option holder the right but not the obligation to purchase or sell a commodity. The Company has entered into other energy-related contracts that do not meet the definition of a derivative instrument or qualify for the normal purchase or normal sale exception and are therefore not accounted for at fair value, including the following: • Forward electricity and natural gas purchase contracts for retail customer load, and • Natural gas transportation contracts and storage agreements. Volumetric Underlying Derivative Transactions The following table summarizes the net notional volume buy/(sell) of the Company’s open derivative financial instruments accounted for at fair value, broken out by commodity, as of (in thousands): Non-trading Commodity Notional June 30, 2017 December 31, 2016 Natural Gas MMBtu 9,054 8,016 Natural Gas Basis MMBtu — — Electricity MWh 5,001 3,958 Trading Commodity Notional June 30, 2017 December 31, 2016 Natural Gas MMBtu 683 (953 ) Natural Gas Basis MMBtu 78 (380 ) Gains (Losses) on Derivative Instruments Gains (losses) on derivative instruments, net and current period settlements on derivative instruments were as follows for the periods indicated (in thousands): Three Months Ended June 30, 2017 2016 (Loss) gain on non-trading derivatives, net $ (10,202 ) $ 13,322 Gain (loss) on trading derivatives, net 525 (77 ) (Loss) gain on derivatives, net (9,677 ) 13,245 Current period settlements on non-trading derivatives (1) (2) (3) 4,020 953 Current period settlements on trading derivatives (24 ) 71 Total current period settlements on derivatives $ 3,996 $ 1,024 (1) Excludes settlements of $0.9 million for the three months ended June 30, 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis and $3.4 million for the three months ended June 30, 2016 related to Major Energy Companies. (2) Excludes settlements of $1.3 million for the three months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies. (3) Excludes settlements of $0.4 million for the three months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of Perigee and other customers. Six Months Ended June 30, 2017 2016 (Loss) gain on non-trading derivatives, net $ (31,578 ) $ 3,702 Gain (loss) on trading derivatives, net 105 (206 ) (Loss) gain on derivatives, net (31,473 ) 3,496 Current period settlements on non-trading derivatives (1) (2) (3) 11,535 12,230 Current period settlements on trading derivatives (184 ) 66 Total current period settlements on derivatives $ 11,351 $ 12,296 (1) Excludes settlements of less than $0.1 million and $0.1 million , respectively, for the six months ended June 30, 2017 and 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis. (2) Excludes settlements of less than $0.1 million for the six months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies and $3.4 million for the six months ended June 30, 2016 related to Major Energy Companies. (3) Excludes settlements of $0.4 million for the six months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of Perigee and other customers. Gains (losses) on trading derivative instruments are recorded in net asset optimization revenues and gains (losses) on non-trading derivative instruments are recorded in retail revenues or retail cost of revenues on the condensed consolidated statements of operations. Fair Value of Derivative Instruments The following tables summarize the fair value and offsetting amounts of the Company’s derivative instruments by counterparty and collateral received or paid as of (in thousands): June 30, 2017 Description Gross Assets Gross Net Assets Cash Net Amount Non-trading commodity derivatives $ 2,160 $ (1,557 ) $ 603 $ — $ 603 Trading commodity derivatives 264 (32 ) 232 — 232 Total Current Derivative Assets 2,424 (1,589 ) 835 — 835 Non-trading commodity derivatives 1,029 (1,145 ) (116 ) — (116 ) Trading commodity derivatives 306 (68 ) 238 — 238 Total Non-current Derivative Assets 1,335 (1,213 ) 122 — 122 Total Derivative Assets $ 3,759 $ (2,802 ) $ 957 $ — $ 957 June 30, 2017 Description Gross Gross Net Cash Net Amount Non-trading commodity derivatives $ (22,183 ) $ 15,040 $ (7,143 ) $ 300 $ (6,843 ) Trading commodity derivatives (128 ) 24 (104 ) — (104 ) Total Current Derivative Liabilities (22,311 ) 15,064 (7,247 ) 300 (6,947 ) Non-trading commodity derivatives (8,399 ) 4,688 (3,711 ) — (3,711 ) Trading commodity derivatives — — — — — Total Non-current Derivative Liabilities (8,399 ) 4,688 (3,711 ) — (3,711 ) Total Derivative Liabilities $ (30,710 ) $ 19,752 $ (10,958 ) $ 300 $ (10,658 ) December 31, 2016 Description Gross Assets Gross Net Assets Cash Net Amount Non-trading commodity derivatives $ 19,657 $ (11,844 ) $ 7,813 $ — $ 7,813 Trading commodity derivatives 614 (83 ) 531 — 531 Total Current Derivative Assets 20,271 (11,927 ) 8,344 — 8,344 Non-trading commodity derivatives 7,874 (4,791 ) 3,083 — 3,083 Total Non-current Derivative Assets 7,874 (4,791 ) 3,083 — 3,083 Total Derivative Assets $ 28,145 $ (16,718 ) $ 11,427 $ — $ 11,427 December 31, 2016 Description Gross Gross Net Cash Net Amount Non-trading commodity derivatives $ (662 ) $ 69 $ (593 ) $ — $ (593 ) Trading commodity derivatives (92 ) 5 (87 ) — (87 ) Total Current Derivative Liabilities (754 ) 74 (680 ) — (680 ) Non-trading commodity derivatives (305 ) 237 (68 ) — (68 ) Total Non-current Derivative Liabilities (305 ) 237 (68 ) — (68 ) Total Derivative Liabilities $ (1,059 ) $ 311 $ (748 ) $ — $ (748 ) Three Months Ended June 30, 2017 2016 (Loss) gain on non-trading derivatives, net (10,202 ) $ 13,322 Gain (loss) on trading derivatives, net 525 (77 ) (Loss) gain on derivatives, net (9,677 ) 13,245 Current period settlements on non-trading derivatives (1) (2) (3) 4,020 953 Current period settlements on trading derivatives (24 ) 71 Total current period settlements on derivatives $ 3,996 $ 1,024 (1) Excludes settlements of less than $0.1 million and $(0.8) million , respectively, for the three months ended June 30, 2017 and 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis. (2) Excludes settlements of $(1.3) million for the three months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies. Gains (losses) on trading derivative instruments are recorded in net asset optimization revenues, and gains (losses) on non-trading derivative instruments are recorded in retail cost of revenues on the condensed consolidated statements of operations. Fair Value of Derivative Instruments The following tables summarize the fair value and offsetting amounts of the Company’s derivative instruments by counterparty and collateral received or paid as of (in thousands): June 30, 2017 Description Gross Assets Gross Net Assets Cash Net Amount Non-trading commodity derivatives $ 2,160 $ (1,557 ) $ 603 $ — $ 603 Trading commodity derivatives 264 (32 ) 232 — 232 Total Current Derivative Assets $ 2,424 $ (1,589 ) $ 835 $ — $ 835 Non-trading commodity derivatives $ 1,029 $ (1,145 ) $ (116 ) $ — $ (116 ) Total Non-current Derivative Assets $ 1,335 $ (1,213 ) $ 122 $ — $ 122 Total Derivative Assets $ 3,759 $ (2,802 ) $ 957 $ — $ 957 June 30, 2017 Description Gross Gross Net Cash Net Amount Non-trading commodity derivatives $ (22,183 ) $ 15,040 $ (7,143 ) $ 300 $ (6,843 ) Trading commodity derivatives (128 ) 24 (104 ) — (104 ) Total Current Derivative Liabilities $ (22,311 ) $ 15,064 $ (7,247 ) $ 300 $ (6,947 ) Non-trading commodity derivatives $ (8,399 ) $ 4,688 $ (3,711 ) $ — $ (3,711 ) Trading commodity derivatives $ — $ — $ — $ — $ — Total Non-current Derivative Liabilities $ (8,399 ) $ 4,688 $ (3,711 ) $ — $ (3,711 ) Total Derivative Liabilities $ (30,710 ) $ 19,752 $ (10,958 ) $ 300 $ (10,658 ) December 31, 2016 Description Gross Assets Gross Net Assets Cash Net Amount Non-trading commodity derivatives $ 19,657 $ (11,844 ) $ 7,813 $ — $ 7,813 Trading commodity derivatives 614 (83 ) 531 — 531 Total Current Derivative Assets 20,271 (11,927 ) 8,344 — 8,344 Non-trading commodity derivatives 7,874 (4,791 ) 3,083 — 3,083 Total Non-current Derivative Assets 7,874 (4,791 ) 3,083 — 3,083 Total Derivative Assets $ 28,145 $ (16,718 ) $ 11,427 $ — $ 11,427 December 31, 2016 Description Gross Gross Net Cash Net Amount Non-trading commodity derivatives $ (662 ) $ 69 $ (593 ) $ — $ (593 ) Trading commodity derivatives (92 ) 5 (87 ) — (87 ) Total Current Derivative Liabilities (754 ) 74 (680 ) — (680 ) Non-trading commodity derivatives (305 ) 237 (68 ) — (68 ) Total Non-current Derivative Liabilities (305 ) 237 (68 ) — (68 ) Total Derivative Liabilities $ (1,059 ) $ 311 $ (748 ) $ — $ (748 )

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes Income Taxes The Company and CenStar are each subject to U.S. federal income tax as corporations. Spark HoldCo and its subsidiaries, with the exception of CenStar, are treated as flow-through entities for U.S. federal income tax purposes, and, as such, are generally not subject to U.S. federal income tax at the entity level. Rather, the tax liability with respect to their taxable income is passed through to their members or partners. Accordingly, the Company is subject to U.S. federal income taxation on its allocable share of Spark HoldCo’s net U.S. taxable income. The Company accounts for income taxes using the assets and liabilities method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and those assets and liabilities tax bases. The Company applies existing tax law and the tax rate that the Company expects to apply to taxable income in the years in which those differences are expected to be recovered or settled in calculating the deferred tax assets and liabilities. Effects of changes in tax rates on deferred tax assets and liabilities are recognized in income in the period of the tax rate enactment. A valuation allowance is recorded when it is not more likely than not that some or all of the benefit from the deferred tax asset will be realized. The Company periodically assesses whether it is more likely than not that it will generate sufficient taxable income to realize its deferred income tax assets. In making this determination, the Company considers all available positive and negative evidence and makes certain assumptions. The Company considers, among other things, its deferred tax liabilities, the overall business environment, its historical earnings and losses, current industry trends, and its outlook for future years. The Company believes it is more likely than not that the deferred tax assets will be utilized. On February 3, 2016, Retailco exchanged 2,000,000 of its Spark HoldCo units (together with a corresponding number of shares of Class B common stock) for shares of Class A common stock. The exchange resulted in a step up in tax basis, which gave rise to a deferred tax asset of approximately $8.0 million on the exchange date. In addition, the Company recorded an additional long-term liability as a result of the exchange of approximately $10.3 million pursuant to the Tax Receivable Agreement and a corresponding long-term deferred tax asset of approximately $3.9 million . The initial estimate for the deferred tax asset, net of the liability, under the Tax Receivable Agreement was recorded within additional paid-in capital on our condensed consolidated balance sheet at December 31, 2016. On April 1, 2016, Retailco exchanged 3,450,000 of its Spark HoldCo units (together with a corresponding number of shares of Class B common stock) for shares of Class A common stock. The exchange resulted in a step up in tax basis, which gave rise to a deferred tax asset of approximately $7.6 million on the exchange date. In addition, the Company recorded an additional long-term liability as a result of the exchange of approximately $10.3 million pursuant to the Tax Receivable Agreement and a corresponding long-term deferred tax asset of approximately $3.9 million . The initial estimate for the deferred tax asset, net of the liability, under the Tax Receivable Agreement was recorded within additional paid-in capital on our condensed consolidated balance sheet at December 31, 2016. On June 8, 2016, Retailco exchanged 1,000,000 of its Spark HoldCo units (together with a corresponding number of shares of Class B common stock) for shares of Class A common stock. The exchange resulted in a step up in tax basis, which gave rise to a deferred tax asset of approximately $5.3 million on the exchange date. In addition, the Company recorded an additional long-term liability as a result of the exchange of approximately $6.9 million pursuant to the Tax Receivable Agreement and a corresponding long-term deferred tax asset of approximately $2.6 million . The initial estimate for the deferred tax asset, net of the liability, under the Tax Receivable Agreement was recorded within additional paid-in capital on our condensed consolidated balance sheet at December 31, 2016. The Company had a net deferred tax asset of approximately $15.6 million related to the step up in tax basis resulting from the purchase by the Company of Spark HoldCo units from NuDevco Retail and NuDevco Retail Holdings (predecessor to Retailco) on the IPO date. In addition, as of June 30, 2017 , the Company had a total liability of $49.9 million for the effect of the Tax Receivable Agreement liability, with approximately $1.4 million classified as short-term liability and the remainder as a long-term liability. The Company had a long-term deferred tax asset of approximately $19.7 million related to the Tax Receivable Agreement liability. See Note 14 "Transactions with Affiliates" for further discussion. The effective U.S. federal and state income tax rate for the six months ended June 30, 2017 and 2016 is 15.1% and 14.1% , respectively, with respect to pre-tax income attributable to the Company's stockholders. The higher effective tax rate for the six months ended June 30, 2017 is primarily attributable to the mix of earnings between corporate and partnership income. Total income tax expense for the six months ended June 30, 2017 differed from amounts computed by applying the U.S. federal statutory tax rates to pre-tax income primarily due to state taxes and the impact of permanent differences between book and taxable income, most notably the income attributable to non-controlling interest. The effective tax rate includes a rate benefit attributable to the fact that Spark HoldCo operates as a limited liability company treated as a partnership for federal and state income tax purposes and is not subject to federal and state income taxes. Accordingly, the portion of earnings attributable to non-controlling interest is subject to tax when reported as a component of the non-controlling interest’s taxable income.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies From time to time, the Company may be involved in legal, tax, regulatory and other proceedings in the ordinary course of business. Other than proceedings discussed below, management does not believe that we are a party to any litigation, claims or proceedings that will have a material impact on the Company’s condensed consolidated financial condition or results of operations. Liabilities for loss contingencies arising from claims, assessments, litigations or other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Indirect Tax Audits The Company is undergoing various types of indirect tax audits spanning from years 2006 to 2016 for which the Company may have additional liabilities arise. At the time of filing these condensed consolidated financial statements, these indirect tax audits are at an early stage and subject to substantial uncertainties concerning the outcome of audit findings and corresponding responses. As of June 30, 2017 , we have accrued $1.8 million related to indirect tax audits. The outcome of these indirect tax audits may result in additional expense. Legal Proceedings The Company is the subject of the following lawsuits. At the time of filing these combined and consolidated financial statements, this litigation is at an early stage and subject to substantial uncertainties concerning the outcome of material factual and legal issues. Accordingly, we cannot currently predict the manner and timing of the resolution of this litigation or estimate a range of possible losses or a minimum loss that could result from an adverse verdict in a potential lawsuit. John Melville et al v. Spark Energy Inc. and Spark Energy Gas, LLC is a purported class action filed on December 17, 2015 in the United States District Court for the District of New Jersey alleging, among other things, that (i) sales representatives engaged as independent contractors for Spark Energy Gas, LLC engaged in deceptive acts in violation of the New Jersey Consumer Fraud Act, (ii) Spark Energy Gas, LLC breach its contract with plaintiff, including a breach of the covenant of good faith and fair dealing. Plaintiffs are seeking unspecified compensatory and punitive damages for the purported class, injunctive relief and/or declaratory relief, disgorgement of revenues and/or profits and attorneys’ fees. Initial discovery is ongoing. Spark Energy Inc. and Spark Energy Gas, LLC intend to vigorously defend this matter and the allegations asserted therein. Given the early stages of this matter, we cannot predict the outcome or consequences of this case at this time. Halifax-American Energy Company, LLC et al v. Provider Power, LLC, Electricity N.H., LLC, Electricity Maine, LLC, Emile Clavet and Kevin Dean is a lawsuit initially filed on June 12, 2014, in the Rockingham County Superior Court, State of New Hampshire, alleging various claims related to the Provider Companies’ employment of a sales contractor formerly employed with one or more of the plaintiffs, including misappropriation of trade secrets and tortious interference with a contractual relationship. The dispute occurred prior to the Company's acquisition of the Provider Companies. Portions of the original claim proceeded to trial and on January 19, 2016, a jury found in favor of the plaintiff. Damages totaling approximately $0.6 million and attorney’s fees totaling approximately $0.3 million were awarded to the plaintiff. On May 4, 2016, following post-verdict motions, the defendants filed an appeal in the State of New Hampshire Supreme Court, appealing, among other things the failure of the trial court to direct a verdict for the defendants, to set aside the verdict, or grant judgment for the defendants, and the trial court's award of certain attorneys' fees. The appellate hearing was held on June 1, 2017. No appellate decision has been issued to date. As of December 31, 2016 and June 30, 2017, respectively, the Company has accrued approximately $1.0 million in contingent liabilities related to this litigation. Initial damages and attorney's fees have been factored into the purchase price for the Provider Companies, and the Company believes it has full indemnity coverage for any actual exposure in this appeal. Katherine Veilleux and Jennifer Chon, individually and on behalf of all other similarly situated v. Electricity Maine. LLC, Provider Power, LLC, Spark Holdco, LLC, Kevin Dean and Emile Clavet is a purported class action lawsuit filed on November 18, 2016 in the United States District Court of Maine, alleging that Electricity Maine, LLC, an entity acquired by Spark Holdco, LLC in mid-2016, enrolled customers through fraudulent and misleading advertising and promotions prior to the acquisition. Plaintiffs allege the following claims against all Defendants: violation of the Maine Unfair Trade Practices Act, violation of RICO, negligence, negligent misrepresentation, fraudulent misrepresentation, unjust enrichment and breach of contract. Plaintiffs seek unspecified damages for themselves and the purported class, rescission of contracts with Electricity Maine, injunctive relief, restitution, and attorney’s fees. On July 7, 2017, Plaintiffs filed a Motion for Leave to Amend their Complaint to add a new Plaintiff. Discovery has not yet commenced in this matter. Spark HoldCo intends to vigorously defend this matter and the allegations asserted therein. Given the early stages of this matter, we cannot predict the outcome or consequences of this case at this time. The Company believes it is fully indemnified for this litigation matter, subject to certain limitations. Gillis et al. v. Respond Power, LLC is a purported class action lawsuit that was originally filed on May 21, 2014 in the Philadelphia Court of Common Pleas. On June 23, 2014, the case was removed to the United States District Court for the Eastern District of Pennsylvania. On September 15, 2014, the plaintiffs filed an amended class action complaint seeking a declaratory judgment that the disclosure statement contained in Respond Power, LLC’s variable rate contracts with Pennsylvania consumers limited the variable rate that could be charged to no more than the monthly rate charged by the consumers’ local utility company. The plaintiffs also allege that Respond Power, LLC (i) breached its variable rate contract with Pennsylvania consumers, and the covenant of good faith and fair dealing therein, by charging rates in excess of the monthly rate charged by the consumers’ local utility company; (ii) engaged in deceptive conduct in violation of the Pennsylvania Unfair Trade Practices and Consumer Protection Law; and (iii) engaged in negligent misrepresentation and fraudulent concealment in connection with purported promises of savings. The amount of damages sought is not specified. By order dated August 31, 2015, the district court denied class certification. The plaintiffs appealed the district court’s denial of class certification to the United States Court of Appeals for the Third Circuit. The United States Court of Appeals for the Third Circuit vacated the district court’s denial of class certification and remanded the matter to the district court for further proceedings. The district court has ordered briefing on Defendant’s motion to dismiss. The Company currently cannot predict the outcome or consequences of this case at this time. The Company believes it is fully indemnified for this litigation matter, subject to certain limitations.

Transactions with Affiliates

Transactions with Affiliates	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Transactions with Affiliates	14. Transactions with Affiliates The Company enters into transactions with and pays certain costs on behalf of affiliates that are commonly controlled in order to reduce risk, reduce administrative expense, create economies of scale, create strategic alliances and supply goods and services to these related parties. The Company also sells and purchases natural gas and electricity with affiliates. The Company presents receivables and payables with the same affiliate on a net basis in the condensed consolidated balance sheets as all affiliate activity is with parties under common control. Master Service Agreement with Retailco Services, LLC We entered into a Master Service Agreement (the “Master Service Agreement”) effective January 1, 2016 with Retailco Services, LLC ("Retailco Services"), which is wholly owned by our Founder. The Master Service Agreement is for a one -year term and renews automatically for successive one -year terms unless the Master Service Agreement is terminated by either party. Retailco Services provides us with operational support services such as: enrollment and renewal transaction services; customer billing and transaction services; electronic payment processing services; customer services and information technology infrastructure and application support services under the Master Service Agreement. See "Cost Allocations" for further discussion of the fees paid in connection with the Master Service Agreement during the three and six months ended June 30, 2017 . Accounts Receivable and Payable — Affiliates The Company recorded current accounts receivable—affiliates of $3.9 million and $2.6 million as of June 30, 2017 and December 31, 2016 , respectively, and current accounts payable—affiliates of $4.1 million and $3.8 million as of June 30, 2017 and December 31, 2016 , respectively, for certain direct billings and cost allocations for services the Company provided to affiliates, services our affiliates provided to us, and sales or purchases of natural gas and electricity with affiliates. Convertible Subordinated Notes to Affiliate In connection with the financing of the CenStar acquisition, the Company, together with Spark HoldCo, issued the CenStar Note to Retailco Acquisition Co, LLC ("RAC"), which is wholly owned by our Founder, for $2.1 million on July 8, 2015. In connection with the financing of the Oasis acquisition, the Company, together with Spark HoldCo, issued the Oasis Note to RAC for $5.0 million on July 31, 2015. RAC converted the CenStar Note and the Oasis Note into shares of Class B common stock on January 8, 2017 and January 31, 2017, respectively. Refer to Note 9 "Debt" for further discussion. Revenues and Cost of Revenues — Affiliates The Company and an affiliate are party to an agreement whereby the Company purchases natural gas from an affiliate. Cost of revenues—affiliates, recorded in net asset optimization revenues in the condensed consolidated statements of operations for the three months ended June 30, 2017 and 2016 related to this agreement were zero and $0.4 million , respectively. Cost of revenues—affiliates, recorded in net asset optimization revenues in the condensed consolidated statements of operations for the six months ended June 30, 2017 and 2016 related to this agreement were zero and $1.6 million , respectively. The Company also purchases natural gas at a nearby third-party plant inlet that is then sold to an affiliate. Revenues—affiliates, recorded in net asset optimization revenues in the condensed consolidated statements of operations for the three months ended June 30, 2017 and 2016 related to these sales were zero and less than $0.1 million , respectively. Revenues—affiliates, recorded in net asset optimization revenues in the condensed consolidated statements of operations for the six months ended June 30, 2017 and 2016 related to these sales were zero and $0.2 million , respectively. Additionally, the Company entered into a natural gas transportation agreement with another affiliate at its pipeline, whereby the Company transports retail natural gas and pays the higher of (i) a minimum monthly payment or (ii) a transportation fee per MMBtu times actual volumes transported. The current transportation agreement renews annually on February 28 at a fixed rate per MMBtu without a minimum monthly payment. While this transportation agreement remains in effect, this entity is no longer an affiliate as our Founder terminated his interest in the affiliate on May 16, 2016. Cost of revenues—affiliates, recorded in retail cost of revenues in the condensed consolidated statements of operations related to this activity, was less than $0.1 million , for the three and six months ended June 30, 2016 . Cost Allocations The Company paid certain expenses on behalf of affiliates, which are reimbursed by the affiliates to the Company, and our affiliates paid certain expenses on our behalf, which are reimbursed by us. These transactions include costs that can be specifically identified and certain allocated overhead costs associated with general and administrative services, including executive management, due diligence work, recurring management consulting, facilities, banking arrangements, professional fees, insurance, information services, human resources and other support departments to the affiliates. Where costs incurred on behalf of the affiliate or us could not be determined by specific identification for direct billing, the costs were primarily allocated to the affiliated entities or us based on percentage of departmental usage, wages or headcount. The total net amount direct billed and allocated from affiliates was $6.3 million and $13.7 million , respectively, for the three and six months ended June 30, 2017 . Of the $6.3 million and $13.7 million total net amounts directly billed and allocated from affiliates, the Company recorded general and administrative expense of $5.4 million and $11.9 million for the three and six months ended June 30, 2017 , respectively, in the condensed consolidated statement of operations in connection with fees paid, net of damages charged, under the Master Service Agreement with Retailco Services. Additionally under the Master Service Agreement, we capitalized $0.2 million and $0.3 million of property and equipment for the application, development and implementation of various systems during three and six months ended June 30, 2017 . The total net amount direct billed and allocated from affiliates was $4.6 million and $9.6 million , respectively, for the three and six months ended June 30, 2016 . Of this total net amount, $3.8 million and $8.0 million were recorded as general and administrative expenses for the three and six months ended June 30, 2016 , respectively, and $0.5 million and $1.1 million of property and equipment were capitalized for the application, development, and implementation of various systems. Distributions to and Contributions from Affiliates During the six months ended June 30, 2017 and 2016 , the Company made net capital distributions to NuDevco Retail and Retailco of $7.8 million and $6.4 million , respectively, in conjunction with the payment of quarterly distributions attributable to its Spark HoldCo units. During the six months ended June 30, 2017 and 2016 , the Company made distributions to NuDevco Retail and Retailco for gross-up distributions of $12.0 million and $3.5 million , respectively, in connection with distributions made between Spark HoldCo and Spark Energy, Inc. for payment of income taxes incurred by Spark Energy, Inc. Proceeds from Disgorgement of Stockholder Short-swing Profits During the three and six months ended June 30, 2017 , the Company received zero and $0.7 million , respectively, for the disgorgement of stockholder short-swing profits under Section 16(b) under the Exchange Act accrued at December 31, 2016. The amount was recorded as an increase to additional paid-in capital in our condensed consolidated balance sheet as of December 31, 2016 . Class B Common Stock In connection with the Major Energy Companies acquisition, the Company issued Retailco 4,000,000 shares of Class B common stock (and a corresponding number of Spark HoldCo units) to NG&E. In connection with the financing of the Provider Companies acquisition, the Company sold 1,399,484 shares of Class B common stock (and a corresponding number of Spark HoldCo units) to RetailCo, valued at $14.0 million based on a value of $10 per share. Subordinated Debt Facility On December 27, 2016, the Company and Spark HoldCo jointly issued to Retailco, an entity owned by our Founder, a 5% subordinated note in the principal amount of up to $25.0 million . The subordinated note allows the Company and Spark HoldCo to draw advances in increments of no less than $1.0 million per advance up to the maximum principal amount of the subordinated note. The subordinated note matures approximately three and a half years following the date of issuance, and advances thereunder accrue interest at 5% per annum from the date of the advance. The Company has the right to capitalize interest payments under the subordinated note. The subordinated note is subordinated in certain respects to the Company's Senior Credit Facility pursuant to a subordination agreement. The Company may pay interest and prepay principal on the subordinated note so long as it is in compliance with its covenants under the Senior Credit Facility, is not in default under the Senior Credit Facility and has minimum availability of $5.0 million under its borrowing base under the Senior Credit Facility. Payment of principal and interest under the subordinated note is accelerated upon the occurrence of certain change of control or sale transactions. As of June 30, 2017 and December 31, 2016 , there was $15.0 million and $5.0 million , respectively, in outstanding borrowings under the subordinated note. Tax Receivable Agreement The Company is party to a Tax Receivable Agreement with Spark HoldCo, NuDevco Retail Holdings and NuDevco Retail. This agreement generally provides for the payment by the Company to Retailco, LLC (as successor to NuDevco Retail Holdings) and NuDevco Retail of 85% of the net cash savings, if any, in U.S. federal, state and local income tax or franchise tax that the Company actually realizes (or is deemed to realize in certain circumstances) in future periods as a result of (i) any tax basis increases resulting from the purchase by the Company of Spark HoldCo units from NuDevco Retail Holdings, (ii) any tax basis increases resulting from the exchange of Spark HoldCo units for shares of Class A common stock pursuant to the Exchange Right (or resulting from an exchange of Spark HoldCo units for cash pursuant to the Cash Option) and (iii) any imputed interest deemed to be paid by the Company as a result of, and additional tax basis arising from, any payments the Company makes under the Tax Receivable Agreement. The Company retains the benefit of the remaining 15% of these tax savings. See Note 12 "Income Taxes" for further discussion. In certain circumstances, the Company may defer or partially defer any payment due (a “TRA Payment”) to the holders of rights under the Tax Receivable Agreement, which are currently Retailco and NuDevco Retail. During the five -year period ending September 30, 2019, the Company will defer all or a portion of any TRA Payment owed pursuant to the Tax Receivable Agreement to the extent that Spark HoldCo does not generate sufficient Cash Available for Distribution (as defined below) during the four-quarter period ending September 30th of the applicable year in which the TRA Payment is to be made in an amount that equals or exceeds 130% (the “TRA Coverage Ratio”) of the Total Distributions (as defined below) paid in such four-quarter period by Spark HoldCo. For purposes of computing the TRA Coverage Ratio: • “Cash Available for Distribution” is generally defined as the Adjusted EBITDA of Spark HoldCo for the applicable period, less (i) cash interest paid by Spark HoldCo, (ii) capital expenditures of Spark HoldCo (exclusive of customer acquisition costs) and (iii) any taxes payable by Spark HoldCo; and • “Total Distributions” are defined as the aggregate distributions necessary to cause the Company to receive distributions of cash equal to (i) the targeted quarterly distribution the Company intends to pay to holders of its Class A common stock and Series A Preferred Stock payable during the applicable four-quarter period, plus (ii) the estimated taxes payable by the Company during such four-quarter period, plus (iii) the expected TRA Payment payable during the calendar year for which the TRA Coverage Ratio is being tested. In the event that the TRA Coverage Ratio is not satisfied in any calendar year, the Company will defer all or a portion of the TRA Payment to NuDevco Retail or Retailco under the Tax Receivable Agreement to the extent necessary to permit Spark HoldCo to satisfy the TRA Coverage Ratio (and Spark HoldCo is not required to make and will not make the pro rata distributions to its members with respect to the deferred portion of the TRA Payment). If the TRA Coverage Ratio is satisfied in any calendar year, the Company will pay NuDevco Retail or Retailco the full amount of the TRA Payment. Following the five -year deferral period ending September 30, 2019, the Company will be obligated to pay any outstanding deferred TRA Payments to the extent such deferred TRA Payments do not exceed (i) the lesser of the Company's proportionate share of aggregate Cash Available for Distribution of Spark HoldCo during the five -year deferral period or the cash distributions actually received by the Company during the five -year deferral period, reduced by (ii) the sum of (a) the aggregate target quarterly dividends (which, for the purposes of the Tax Receivable Agreement, will be $0.18125 per Class A common stock share and $0.546875 per Series A Preferred Stock share per quarter) during the five -year deferral period, (b) the Company's estimated taxes during the five -year deferral period, and (c) all prior TRA Payments and (y) if with respect to the quarterly period during which the deferred TRA Payment is otherwise paid or payable, Spark HoldCo has or reasonably determines it will have amounts necessary to cause the Company to receive distributions of cash equal to the target quarterly distribution payable during that quarterly period. Any portion of the deferred TRA Payments not payable due to these limitations will no longer be payable. We met the threshold coverage ratio required to fund the first TRA Payment to Retailco and NuDevco Retail under the Tax Receivable Agreement during the four-quarter period ending September 30, 2016, resulting in an initial TRA Payment of $1.4 million becoming due in December 2016. On November 6, 2016, Retailco and NuDevco Retail granted the Company the right to defer the TRA Payment until May 2018. During the period of time when the Company has elected to defer the TRA payment, the outstanding payment amount will accrue interest at a rate calculated in the manner provided for under the Tax Receivable Agreement. The initial payment of $1.4 million deferred until May 2018 was reclassified to a current liability as of June 30, 2017. As of June 30, 2017, we do not expect to meet the threshold coverage ratio required to fund the payment to Retailco, LLC under the Tax Receivable Agreement during the four-quarter period ending September 30, 2017. As such, the payment will be deferred pursuant to the terms thereof. The liability has been classified as non-current in our condensed consolidated balance sheet at June 30, 2017 and December 31, 2016.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segment Reporting	15. Segment Reporting The Company’s determination of reportable business segments considers the strategic operating units under which the Company makes financial decisions, allocates resources and assesses performance of its retail and asset optimization businesses. The Company’s reportable business segments are retail natural gas and retail electricity. The retail natural gas segment consists of natural gas sales to, and natural gas transportation and distribution for, residential and commercial customers. Asset optimization activities, considered an integral part of securing the lowest price natural gas to serve retail gas load, are part of the retail natural gas segment. The Company recorded asset optimization revenues of $39.2 million and $20.8 million and asset optimization cost of revenues of $39.4 million and $21.5 million for the three months ended June 30, 2017 and 2016 , respectively, which are presented on a net basis in asset optimization revenues. The Company recorded asset optimization revenues of $101.1 million and $63.1 million and asset optimization cost of revenues of $101.5 million and $63.3 million for the six months ended June 30, 2017 and 2016 , respectively, which are presented on a net basis in asset optimization revenues. The retail electricity segment consists of electricity sales and transmission to residential and commercial customers. Corporate and other consists of expenses and assets of the retail natural gas and retail electricity segments that are managed at a consolidated level such as general and administrative expenses. To assess the performance of the Company’s operating segments, the Chief Operating Decision Maker analyzes retail gross margin. The Company defines retail gross margin as operating income (loss) plus (i) depreciation and amortization expenses and (ii) general and administrative expenses, less (i) net asset optimization revenues (expenses), (ii) net gains (losses) on non-trading derivative instruments, and (iii) net current period cash settlements on non-trading derivative instruments. The Company deducts net gains (losses) on non-trading derivative instruments, excluding current period cash settlements, from the retail gross margin calculation in order to remove the non-cash impact of net gains and losses on non-trading derivative instruments. Retail gross margin is a primary performance measure used by our management to determine the performance of our retail natural gas and electricity business by removing the impacts of our asset optimization activities and net non-cash income (loss) impact of our economic hedging activities. As an indicator of our retail energy business’ operating performance, retail gross margin should not be considered an alternative to, or more meaningful than, operating income, as determined in accordance with GAAP. Below is a reconciliation of retail gross margin to income before income tax expense (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Reconciliation of Retail Gross Margin to Income before taxes Income before income tax expense $ 5,080 $ 23,729 $ 18,617 $ 40,458 Interest and other income 265 (195 ) 66 (100 ) Interest expense 2,452 832 5,897 1,585 Operating Income 7,797 24,366 24,580 41,943 Depreciation and amortization 9,656 8,253 18,926 15,042 General and administrative 19,346 19,799 43,839 37,179 Less: Net asset optimization expenses (168 ) (677 ) (361 ) (150 ) Net, (loss) gain on non-trading derivative instruments (10,202 ) 13,322 (31,578 ) 3,702 Net, Cash settlements on non-trading derivative instruments 4,020 953 11,535 12,230 Retail Gross Margin $ 43,149 $ 38,820 $ 107,749 $ 78,382 The Company uses retail gross margin and net asset optimization revenues as the measure of profit or loss for its business segments. This measure represents the lowest level of information that is provided to the chief operating decision maker for our reportable segments. Financial data for business segments are as follows (in thousands): Three Months Ended June 30, 2017 Retail Retail Corporate Eliminations Spark Retail Total Revenues $ 131,908 $ 19,528 $ — $ — $ 151,436 Retail cost of revenues 102,079 12,558 — — 114,637 Less: Net asset optimization expenses — (168 ) — — (168 ) Losses on non-trading derivatives (9,333 ) (869 ) — — (10,202 ) Current period settlements on non-trading derivatives 4,299 (279 ) — — 4,020 Retail Gross Margin $ 34,863 $ 8,286 $ — $ — $ 43,149 Total Assets at June 30, 2017 $ 838,978 $ 302,637 $ 247,693 $ (980,595 ) $ 408,713 Goodwill at June 30, 2017 $ 78,417 $ 2,530 $ — $ — $ 80,947 Three Months Ended June 30, 2016 Retail Retail Corporate Eliminations Spark Retail Total revenues $ 87,395 $ 21,986 $ — $ — $ 109,381 Retail cost of revenues 49,717 7,246 — — 56,963 Less: Net asset optimization revenues — (677 ) — — (677 ) Gains on non-trading derivatives 10,319 3,003 — — 13,322 Current period settlements on non-trading derivatives (272 ) 1,225 — — 953 Retail Gross Margin $ 27,631 $ 11,189 $ — $ — $ 38,820 Total Assets at December 31, 2016 $ 577,695 $ 242,739 $ 169,404 $ (613,670 ) $ 376,168 Goodwill at December 31, 2016 $ 76,617 $ 2,530 $ — $ — $ 79,147 Six Months Ended June 30, 2017 Retail Retail Corporate Eliminations Spark Retail Total revenues $ 265,602 $ 82,141 $ — $ — $ 347,743 Retail cost of revenues 210,923 49,475 — — 260,398 Less: Net asset optimization expenses — (361 ) — — (361 ) Losses on non-trading derivatives (28,960 ) (2,618 ) — — (31,578 ) Current period settlements on non-trading derivatives 12,005 (470 ) — — 11,535 Retail Gross Margin $ 71,634 $ 36,115 $ — $ — $ 107,749 Total Assets at June 30, 2017 $ 838,978 $ 302,637 $ 247,693 $ (980,595 ) $ 408,713 Goodwill at June 30, 2017 $ 78,417 $ 2,530 $ — $ — $ 80,947 Six Months Ended June 30, 2016 Retail Retail Corporate Eliminations Spark Retail Total revenues $ 149,328 $ 70,599 $ — $ — $ 219,927 Retail cost of revenues 96,017 29,746 — — 125,763 Less: Net asset optimization revenues — (150 ) — — (150 ) Gains on non-trading derivatives 929 2,773 — — 3,702 Current period settlements on non-trading derivatives 9,345 2,885 — — 12,230 Retail Gross Margin $ 43,037 $ 35,345 $ — $ — $ 78,382 Total Assets at December 31, 2016 $ 577,695 $ 242,739 $ 169,404 $ (613,670 ) $ 376,168 Goodwill at December 31, 2016 $ 76,617 $ 2,530 $ — $ — $ 79,147

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events Acquisition of Verde On July 1, 2017, the Company and CenStar completed the acquisition from Verde Energy USA Holdings, LLC (the “Seller”) of all of the outstanding membership interests and stock in the Verde Companies (as defined in the Membership Interest and Stock Purchase Agreement, dated as of May 5, 2017, by and among the Company, CenStar and the Seller, as amended). Total consideration paid was approximately $85.8 million , of which approximately $20.8 million was used to purchase positive net working capital. The Company funded the closing consideration through: (i) approximately $6.8 million of cash on hand, (ii) approximately $15.0 million in subordinated debt from the Company's founder and majority shareholder through an existing subordinated debt facility, (iii) approximately $44.0 million in borrowings under its senior secured revolving credit facility, and (iv) the issuance by CenStar to the Seller of a promissory note in the aggregate principal amount of $20.0 million (the “Promissory Note”). The Company deposited $65.8 million of the purchase price due to the Seller before June 30, 2017, immediately prior to payment of such amount on the July 1, 2017 closing date, and has reflected the amount as a deposit in current assets as of June 30, 2017. In addition to the consideration paid at closing, CenStar is obligated to pay 100% of the Adjusted EBITDA earned by the Verde Companies for the 18 months following closing that exceeds certain thresholds, subject to the Verde Companies’ ability to achieve defined customer count criteria. Upon the close of the acquisition, the Verde Companies became restricted subsidiaries and co-borrowers under the Company's Senior Credit Facility. Declaration of Dividends On July 19, 2017, the Company declared a quarterly dividend of $0.18125 to holders of record of our Class A common stock on August 29, 2017 and payable on September 14, 2017 . On July 19, 2017, the Company declared a quarterly cash dividend in the amount of $0.546875 per share of Series A Preferred Stock. This amount represents an annualized dividend of $2.1875 per share. The dividend will be paid on October 16, 2017 to holders of record on October 1, 2017 of Spark's Series A Preferred Stock. The Company anticipates Series A Preferred Stock dividends declared of $2.9 million in the aggregate for the year ended December 31, 2017 based on the Series A Preferred Stock outstanding as of June 30, 2017. At-the-Market Issuance Sales Agreement On July 21, 2017, the Company entered into an At-the-Market Issuance Sales Agreement (“the ATM Agreement”) to periodically sell the Company’s Series A Preferred Stock, having an aggregate offering price of up to $50.0 million in market transactions.

Basis of Presentation and Sum24

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	The accompanying interim unaudited condensed consolidated financial statements (“interim statements”) of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC"). This information should be read in conjunction with our consolidated financial statements and notes contained in our annual report on Form 10-K for the year ended December 31, 2016 . The Company's unaudited condensed consolidated financial statements are presented on a consolidated basis and include all wholly-owned and controlled subsidiaries. We account for investments over which we have significant influence but not a controlling financial interest using the equity method of accounting. All significant intercompany transactions and balances have been eliminated in the unaudited condensed consolidated financial statements.
Use of Estimates	The preparation of the Company's condensed consolidated financial statements requires estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim financial statements and the reported amounts of revenues and expenses during the period. Actual results could materially differ from those estimates. Effects on the business, financial condition and results of operations resulting from revisions to estimates are recognized when the facts that give rise to the revision become known. The information furnished herein reflects all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the condensed consolidated financial statements. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the full year or for any interim period.
Transactions with Affiliates	Transactions with Affiliates The Company enters into transactions with and pays certain costs on behalf of affiliates that are commonly controlled by W. Keith Maxwell III, and these affiliates enter into transactions with and pay certain costs on our behalf, in order to reduce risk, reduce administrative expense, create economies of scale, create strategic alliances and supply goods and services among these related parties.
Presentation of the Acquisition of Major Energy Companies	Presentation of the Acquisition of Major Energy Companies On April 15, 2016, National Gas & Electric, LLC (“NG&E”), an affiliate of the Company , completed the acquisition of 100% of the membership interests of Major Energy Companies. On May 3, 2016, Spark HoldCo and Retailco entered into a Membership Interest Purchase Agreement (the "Major Purchase Agreement") with NG&E for the purchase of all of the membership interests of the Major Energy Companies. Spark HoldCo and Retailco completed the acquisition of the Major Energy Companies from NG&E on August 23, 2016. As the acquisition of Major Energy Companies was a transfer of equity interest of entities under common control, the Company's historical financial statements for the three and six months ended June 30, 2016 previously filed with the SEC have been recast in this Form 10-Q to include the results attributable to Major Energy Companies from April 15, 2016. The unaudited condensed consolidated financial statements for this recast period have been prepared from Major Energy Companies' historical cost-basis and may not necessarily be indicative of the actual results of operations that would have occurred had the Company owned the Major Energy Companies during the recast period. Presentation of the Acquisition of Perigee Energy, LLC On February 3, 2017, NG&E, an affiliate of the Company, completed the acquisition of 100% of the membership interests of Perigee. On April 1, 2017, the Company and Spark HoldCo completed the purchase of all of the outstanding membership interests of Perigee from NG&E. As the acquisition of Perigee was a transfer of equity interest of entities under common control, the Company's historical financial statements have been recast in this form 10-Q to include the results attributable to Perigee from February 3, 2017. The unaudited condensed consolidated financial statements for this recast period have been prepared from Perigee's historical cost-basis and may not necessarily be indicative of the actual results of operations that would have occurred had the Company owned Perigee during the recast period.
Subsequent Events	Subsequent Events Subsequent events have been evaluated through the date these financial statements are issued. Any material subsequent events that occurred prior to such date have been properly recognized or disclosed in the condensed consolidated financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted Standards In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718) ("ASU 2016-09"). ASU 2016-09 includes provisions intended to simplify various aspects of accounting for shared-based payments, including income tax consequences, classification of awards as either equity or liability and classification on the statement of cash flows. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2016, with early adoption permitted. The Company adopted ASU 2016-09 on January 1, 2017. The new standard requires prospective recognition of excess tax benefits resulting from stock-based compensation vesting and exercises to be recognized as a reduction of income taxes and reflected in operating cash flows. Previously, these amounts were recognized in additional paid-in capital and presented as a financing activity on the statement of cash flows. Net excess tax benefits of $0.2 million were recognized as a reduction of income taxes for the six months ended June 30, 2017. Prior periods have not been adjusted. The Company has elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. ASU 2016-09 requires that employee taxes paid when an employer withholds shares for tax-withholding purposes to be reported as financing activities in the statement of cash flows. Previously, these cash flows were included in operating activities. The Company has elected to adopt this prospectively, as permitted by ASU 2016-09. This change resulted in a $1.7 million impact on the statement of cash flow for the six months ended June 30, 2017. In October 2016, the FASB issued ASU No. 2016-17, Consolidation (Topic 810): Interests Held through Related Parties that Are under Common Control ("ASU 2016-17"). ASU 2016-17 amends the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity ("VIE") should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. Under ASU 2016-17, a single decision maker of a VIE is required to consider indirect economic interests in the entity held through related parties on a proportionate basis when determining whether it is the primary beneficiary of that VIE. If a single decision maker and its related party are under common control, the single decision maker is required to consider indirect interests in the entity held through those related parties to be the equivalent of direct interests in their entirety. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016 (the Company's first quarter of fiscal 2017), including interim periods within those fiscal years. Early adoption is permitted. The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company adopted ASU 2016-17 effective January 1, 2017, and the adoption had no impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash ("ASU 2016-18"). ASU 2016-18 is intended to add and clarify guidance on the classification and presentation of restricted cash on the statement of cash flows. ASU 2016-18 requires 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. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company adopted ASU 2016-18 effective April 1, 2017, and has included restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Standards Being Evaluated/Standards Not Yet Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The standard permits the use of either the retrospective or cumulative effect transition method. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which deferred the effective date to periods beginning after December 15, 2017. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016. In December 2016, the FASB further issued ASU No. 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, to increase stakeholders' awareness of the proposals and to expedite improvements to ASU 2014-09. The Company plans to adopt the standard using the modified retrospective approach. After assessing the new standard, the Company expects that there will be no material impacts to our revenue recognition procedures. The FASB issued additional amendments to ASU No. 2014-09, as amended by ASU No. 2015-14: • March 2016 - ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ("ASU 2016-08"). ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to customers. • April 2016 - ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ("ASU 2016-10"). ASU 2016-10 covers two specific topics: performance obligations and licensing. This amendment includes guidance on immaterial promised goods or services, shipping or handling activities, separately identifiable performance obligations, functional or symbolic intellectual property licenses, sales-based and usage-based royalties, license restrictions (time, use, geographical) and licensing renewals. • May 2016 - ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow Scope Improvements and Practical Expedients ("ASU 2016-12"). ASU 2016-12 clarifies certain core recognition principles including collectability, sales tax presentation, noncash consideration, contract modifications and completed contracts at transition and disclosures no longer required if the full retrospective transition method is adopted. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) ("ASU 2016-02") . ASU 2016-02 amends the existing accounting standards for lease accounting by requiring entities to include substantially all leases on the balance sheet by requiring the recognition of right-of-use assets and lease liabilities for all leases. Entities may elect to not recognize leases with a maximum possible term of less than 12 months. For lessees, a lease is classified as finance or operating and the asset and liability are initially measured at the present value of the lease payments. For lessors, accounting for leases is largely unchanged from previous guidance. ASU 2016-02 also requires qualitative disclosures along with certain specific quantitative disclosures for both lessees and lessors. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, with early adoption permitted, and are effective for interim periods in the year of adoption. The ASU should be applied using a modified retrospective approach, which requires lessees and lessors to recognize and measure leases at the beginning of the earliest period presented. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments ("ASU 2016-15") . ASU 2016-15 provides guidance on the presentation and classification of eight specific cash flow issues in the statement of cash flows. Those issues are cash payment for debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instrument or other debt instrument with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; cash proceeds from the settlement of insurance claims, cash received from settlement of corporate-owned life insurance policies; distribution received from equity method investees; beneficial interest in securitization transactions; and classification of cash receipts and payments that have aspects of more than one class of cash flows. The guidance is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. This ASU should be applied using a retrospective transition method for each period presented. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (“ASU 2016-16”). ASU 2016-16 requires immediate recognition of the current and deferred income tax consequences of intercompany asset transfers other than inventory. Current U.S. GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2017, with early adoption permitted as of the beginning of an annual reporting period for which financial statements (interim or annual) have not been issued or made available for issuance. This ASU should be applied using a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business ("ASU 2017-01"). ASU 2017-01 clarifies 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. The definition of a business affects many areas of accounting, including acquisitions, disposals, goodwill, and consolidation. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those periods, and the amendments should be applied prospectively on or after the effective date. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the amendments in this update, 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. ASU 2017-04 should be applied on a prospective basis and is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718) ("ASU 2017-09"). ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. An entity should account for the effects of a modification unless all of the following are met: • The fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified • The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified • The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The amendments in ASU 2017-09 are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments should be applied prospectively to an award modified on or after the adoption date. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements.
Fair Value Measurements	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants at the measurement date. Fair values are based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. This includes not only the credit standing of counterparties involved and the impact of credit enhancements but also the impact of the Company’s own nonperformance risk on its liabilities. The Company applies fair value measurements to its commodity derivative instruments and a contingent payment arrangement based on the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: • Level 1—Quoted prices in active markets for identical assets and liabilities. Instruments categorized in Level 1 primarily consist of financial instruments such as exchange-traded derivative instruments. • Level 2—Inputs other than quoted prices recorded in Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 primarily include non-exchange traded derivatives such as over-the-counter commodity forwards and swaps and options. • Level 3—Unobservable inputs for the asset or liability, including situations where there is little, if any, observable market activity for the asset or liability. The Level 3 category includes estimated earnout obligations related to the Company's acquisitions. As the fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3), the Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. In these cases, the lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy.
Accounting for Derivatives Instruments	The Company is exposed to the impact of market fluctuations in the price of electricity and natural gas and basis costs, storage and ancillary capacity charges from independent system operators. The Company uses derivative instruments to manage exposure to these risks, and historically designated certain derivative instruments as cash flow hedges for accounting purposes. The Company holds certain derivative instruments that are not held for trading purposes and are not designated as hedges for accounting purposes. These derivative instruments represent economic hedges that mitigate the Company’s exposure to fluctuations in commodity prices. For these derivative instruments, changes in the fair value are recognized currently in earnings in retail revenues or retail cost of revenues. As part of the Company’s strategy to optimize its assets and manage related risks, it also manages a portfolio of commodity derivative instruments held for trading purposes. The Company’s commodity trading activities are subject to limits within the Company’s Risk Management Policy. For these derivative instruments, changes in the fair value are recognized currently in earnings in net asset optimization revenues.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	Accordingly, the assets acquired and liabilities assumed were based on their historical values as of August 23, 2016. NG&E acquired the Major Energy Companies on April 15, 2016 and the fair value of the net assets acquired was as follows (in thousands): Reported as of December 31, 2016 Q1 2017 Adjustments (1) June 30, 2017 Cash $ 17,368 $ — $ 17,368 Property and equipment 14 — 14 Intangible assets - customer relationships & non-compete agreements 24,271 — 24,271 Other assets - trademarks 4,973 — 4,973 Non-current deferred tax assets 1,042 — 1,042 Goodwill 34,728 260 34,988 Net working capital, net of cash acquired (6,746 ) — (6,746 ) Fair value of derivative liabilities (7,260 ) — (7,260 ) Total $ 68,390 $ 260 $ 68,650 (1) Changes to the purchase price allocation in the first quarter of 2017 related to NG&E's working capital settlement with the Major Energy Companies' sellers. No adjustments were recorded subsequent to the first quarter of 2017. NG&E acquired Perigee on February 3, 2017 and the fair value of the net assets acquired were as follows (in thousands): Cash $ 23 Intangible assets - customer relationships 1,100 Goodwill 1,540 Net working capital, net of cash acquired 2,085 Fair value of derivative liabilities (443 ) Total $ 4,305

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of Ownership Interests Percentage	The Company and NuDevco Retail and Retailco owned the following economic interests in Spark HoldCo at December 31, 2016 and June 30, 2017 , respectively. Non-controlling Interest Economic Interest The Company NuDevco Retail and Retailco (1) (2) December 31, 2016 38.85 % 61.15 % June 30, 2017 38.12 % 61.88 % . (1) In January 2016, Retailco succeeded to the interest of NuDevco Retail Holdings of its Class B common stock and an equal number of Spark HoldCo units it held pursuant to a series of transfers. (2) In January 2017, Retailco converted the CenStar Note and Oasis Note into 269,462 and 766,180 shares, respectively, of Class B common stock.
Schedule of Noncontrolling Interest	The following table summarizes the portion of net income and income tax expense (benefit) attributable to non-controlling interest (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Net income allocated to non-controlling interest $ 3,164 $ 16,777 $ 11,569 $ 28,785 Income tax expense (benefit) allocated to non-controlling interest (428 ) 124 (885 ) 564 Net income attributable to non-controlling interest $ 3,592 $ 16,653 $ 12,454 $ 28,221
Earnings Per Share	The following table presents the computation of earnings per share for the three and six months ended June 30, 2017 and 2016 (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Net income attributable to Spark Energy, Inc. stockholders $ 1,079 $ 2,341 $ 3,349 $ 6,514 Less: Accumulated dividend on Series A preferred stock 991 — 1,174 — Net income attributable to stockholders of Class A common stock $ 88 $ 2,341 $ 2,175 $ 6,514 Basic weighted average Class A common shares outstanding 13,104 12,086 13,050 9,799 Basic EPS attributable to stockholders $ 0.01 $ 0.19 $ 0.17 $ 0.66 Net income attributable to stockholders of Class A common stock $ 88 $ 2,341 $ 2,175 $ 6,514 Effect of conversion of Class B common stock to shares of Class A common stock — — — — Effect of conversion of convertible subordinated notes into shares of Class B common stock and shares of Class B common stock into shares of Class A common stock (1) — (332 ) — (312 ) Diluted net income attributable to stockholders of Class A common stock 88 2,009 2,175 6,202 Basic weighted average Class A common shares outstanding 13,104 12,086 13,050 9,799 Effect of dilutive Class B common stock — — — — Effect of dilutive convertible subordinated notes into shares of Class B common stock and shares of Class B common stock into shares of Class A common stock (1) — 986 — 986 Effect of dilutive restricted stock units 272 206 207 174 Diluted weighted average shares outstanding 13,376 13,278 13,257 10,959 Diluted EPS attributable to stockholders $ 0.01 $ 0.15 $ 0.16 $ 0.57 (1) The CenStar Note and Oasis Note converted into 269,462 and 766,180 shares of Class B common stock on January 8, 2017, and January 31, 2017, respectively.
Carrying Amounts and Classification of Assets and Liabilities of Variable Interest Entity	The following table includes the carrying amounts and classification of the assets and liabilities of Spark HoldCo that are included in the Company's condensed consolidated balance sheet as of June 30, 2017 (in thousands): June 30, 2017 Assets Current assets: Cash and cash equivalents $ 13,043 Accounts receivable 95,690 Other current assets 122,590 Total current assets 231,323 Non-current assets: Goodwill 80,947 Other assets 41,927 Total non-current assets 122,874 Total Assets $ 354,197 Liabilities Current liabilities: Accounts payable and Accrued Liabilities $ 74,688 Intercompany payable with Spark Energy, Inc. 23,927 Current portion of Senior Credit Facility 7,500 Contingent consideration 5,856 Other current liabilities 12,060 Total current liabilities 124,031 Long-term liabilities: Long-term portion of Senior Credit Facility 76,500 Subordinated debt — affiliate 15,000 Contingent consideration 3,986 Other long-term liabilities 5,041 Total long-term liabilities 100,527 Total Liabilities $ 224,558

Preferred Stock (Tables)

Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of Stock by Class	A summary of the Company's mezzanine equity for the six months ended June 30, 2017 is as follows: (in thousands) Mezzanine equity at December 31, 2016 $ — Issuance of Series A Preferred Stock, net of issuance cost 37,937 Accumulated dividends on Series A Preferred Stock 1,174 Mezzanine equity at June 30, 2017 $ 39,111

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following amounts as of (in thousands): Estimated useful June 30, 2017 December 31, 2016 Information technology 2 – 5 $ 29,998 $ 29,675 Leasehold improvements 2 – 5 4,568 4,568 Furniture and fixtures 2 – 5 1,026 1,024 Total 35,592 35,267 Accumulated depreciation (31,599 ) (30,561 ) Property and equipment—net $ 3,993 $ 4,706

Goodwill, Customer Relationsh29

Goodwill, Customer Relationships and Trademarks (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Intangible Assets	Goodwill, customer relationships and trademarks consist of the following amounts as of (in thousands): June 30, 2017 December 31, 2016 Goodwill $ 80,947 $ 79,147 Customer relationships - Acquired (1) Cost $ 64,671 $ 63,571 Accumulated amortization (37,476 ) (31,660 ) Customer relationships - Acquired, net $ 27,195 $ 31,911 Customer relationships - Other (2) Cost $ 9,828 $ 4,320 Accumulated amortization (3,580 ) (2,708 ) Customer relationships - Other, net $ 6,248 $ 1,612 Trademarks (3) Cost $ 6,770 $ 6,770 Accumulated amortization (672 ) (431 ) Trademarks, net $ 6,098 $ 6,339 (1) Customer relationships - Acquired represent those customer acquisitions accounted for under the acquisition method in accordance with ASC 805. See Note 3 "Acquisitions" for further discussion. (2) Customer relationships - Other represent portfolios of customer contracts not accounted for in accordance with ASC 805 as these acquisitions were not in conjunction with the acquisition of businesses. (3) Trademarks reflect values associated with the recognition and positive reputation of acquired businesses accounted for as part of the acquisition method in accordance with ASC 805 through the acquisitions of CenStar, Oasis, the Provider Companies and the Major Energy Companies. These trademarks are recorded as other assets in the condensed consolidated balance sheets. See Note 3 "Acquisitions" for further discussion. Changes in goodwill, customer relationships and trademarks consisted of the following (in thousands): Goodwill (1) Customer Relationships - Acquired Customer Relationships - Others Trademarks Balance at December 31, 2016 $ 79,147 $ 31,911 $ 1,612 $ 6,339 Additions (Major Working Capital Adjustment) 260 — — — Additions (Perigee) 1,540 1,100 5,508 — Amortization expense — (5,816 ) (872 ) (241 ) Balance at June 30, 2017 $ 80,947 $ 27,195 $ 6,248 $ 6,098 (1) Changes in goodwill in the six months ended June 30, 2017 include NG&E's working capital settlement with the Major Energy Companies' sellers of $0.3 million and Perigee's goodwill of $1.5 million .
Estimated Future Amortization Expense of Intangible Assets	Estimated future amortization expense for customer relationships and trademarks at June 30, 2017 is as follows (in thousands): Year ending December 31, 2017 $ 7,257 2018 12,393 2019 7,948 2020 3,880 2021 2,811 > 5 years 5,252 Total $ 39,541

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of Debt	Debt consists of the following amounts (in thousands): June 30, 2017 December 31, 2016 Current Portion of Senior Credit Facility - Bridge Loan $ 7,500 $ — Current portion of Prior Senior Credit Facility—Working Capital Line (1) (2) $ — $ 29,000 Current portion of Prior Senior Credit Facility—Acquisition Line (2) — 22,287 Current portion of Note Payable—Pacific Summit Energy — 15,501 Convertible subordinated notes to affiliate — 6,582 Total current debt 7,500 73,370 Long-term portion of Senior Credit Facility 76,500 — Subordinated Debt 15,000 5,000 Total long-term debt 91,500 5,000 Total debt $ 99,000 $ 78,370 (1) As of June 30, 2017 and December 31, 2016 , the Company had $33.7 million and $29.6 million in letters of credit issued, respectively. (2) As of June 30, 2017 and December 31, 2016 , the weighted average interest rate on the current portion of our Senior Credit Facility was 4.62% and 4.93% , respectively.
Components of Interest Expense	Interest expense consists of the following components for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Interest incurred on Senior Credit Facility (1) $ 543 $ 405 $ 1,237 $ 723 Accretion related to Earnouts (2) 1,433 — 2,660 — Letters of credit fees and commitment fees 193 183 417 375 Amortization of deferred financing costs 283 117 531 234 Interest incurred on convertible subordinated notes to affiliate (3) — 127 1,052 253 Interest Expense $ 2,452 $ 832 $ 5,897 $ 1,585 (1) Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion. (2) Includes accretion related to the Provider Earnout of less than $0.1 million and the Major Earnout of $1.4 million for the three months ended June 30, 2017 , and accretion related to the Provider Earnout of $0.1 million and the Major Earnout of $2.6 million for the six months ended June 30, 2017 . (3) Includes amortization of the discount on the convertible subordinated notes to affiliates of $0.0 million and $0.0 million , respectively, for the three and six months ended June 30, 2017 , and amortization of the discount on the convertible subordinated notes to affiliates of less than $0.1 million and $0.1 million , respectively, for the three and six months ended June 30, 2016 .

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents assets and liabilities measured and recorded at fair value in the Company’s condensed consolidated balance sheets on a recurring basis by and their level within the fair value hierarchy as of (in thousands): Level 1 Level 2 Level 3 Total June 30, 2017 Non-trading commodity derivative assets $ — $ 487 $ — $ 487 Trading commodity derivative assets 67 403 — 470 Total commodity derivative assets $ 67 $ 890 $ — $ 957 Non-trading commodity derivative liabilities $ (160 ) $ (10,394 ) $ — $ (10,554 ) Trading commodity derivative liabilities (51 ) (53 ) — (104 ) Total commodity derivative liabilities $ (211 ) $ (10,447 ) $ — $ (10,658 ) Contingent payment arrangement $ — $ — $ (9,842 ) $ (9,842 ) Level 1 Level 2 Level 3 Total December 31, 2016 Non-trading commodity derivative assets $ 1,511 $ 9,385 $ — $ 10,896 Trading commodity derivative assets 101 430 — 531 Total commodity derivative assets $ 1,612 $ 9,815 $ — $ 11,427 Non-trading commodity derivative liabilities $ — $ (661 ) $ — $ (661 ) Trading commodity derivative liabilities — (87 ) — (87 ) Total commodity derivative liabilities $ — $ (748 ) $ — $ (748 ) Contingent payment arrangement $ — $ — $ (22,653 ) $ (22,653 )
Fair Value, Liabilities Measured on Recurring Basis	The following tables present reconciliations of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended June 30, 2017 and December 31, 2016 . Major Earnout and Stock Earnout Provider Earnout Total Fair value at December 31, 2016 $ 17,760 $ 4,893 $ 22,653 Change in fair value of contingent consideration, net (3,068 ) 500 (2,568 ) Accretion of contingent earnout consideration (included within interest expense) 2,553 107 2,660 Payments (1) (7,403 ) (5,500 ) (12,903 ) Fair Value at June 30, 2017 $ 9,842 $ — $ 9,842 (1) Payments include pay downs at maturity

Accounting for Derivative Ins32

Accounting for Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table summarizes the net notional volume buy/(sell) of the Company’s open derivative financial instruments accounted for at fair value, broken out by commodity, as of (in thousands): Non-trading Commodity Notional June 30, 2017 December 31, 2016 Natural Gas MMBtu 9,054 8,016 Natural Gas Basis MMBtu — — Electricity MWh 5,001 3,958 Trading Commodity Notional June 30, 2017 December 31, 2016 Natural Gas MMBtu 683 (953 ) Natural Gas Basis MMBtu 78 (380 )
Gains (Losses) on Derivative Instruments	Gains (losses) on derivative instruments, net and current period settlements on derivative instruments were as follows for the periods indicated (in thousands): Three Months Ended June 30, 2017 2016 (Loss) gain on non-trading derivatives, net $ (10,202 ) $ 13,322 Gain (loss) on trading derivatives, net 525 (77 ) (Loss) gain on derivatives, net (9,677 ) 13,245 Current period settlements on non-trading derivatives (1) (2) (3) 4,020 953 Current period settlements on trading derivatives (24 ) 71 Total current period settlements on derivatives $ 3,996 $ 1,024 (1) Excludes settlements of $0.9 million for the three months ended June 30, 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis and $3.4 million for the three months ended June 30, 2016 related to Major Energy Companies. (2) Excludes settlements of $1.3 million for the three months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies. (3) Excludes settlements of $0.4 million for the three months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of Perigee and other customers. Six Months Ended June 30, 2017 2016 (Loss) gain on non-trading derivatives, net $ (31,578 ) $ 3,702 Gain (loss) on trading derivatives, net 105 (206 ) (Loss) gain on derivatives, net (31,473 ) 3,496 Current period settlements on non-trading derivatives (1) (2) (3) 11,535 12,230 Current period settlements on trading derivatives (184 ) 66 Total current period settlements on derivatives $ 11,351 $ 12,296 (1) Excludes settlements of less than $0.1 million and $0.1 million , respectively, for the six months ended June 30, 2017 and 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis. (2) Excludes settlements of less than $0.1 million for the six months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies and $3.4 million for the six months ended June 30, 2016 related to Major Energy Companies. (3) Excludes settlements of $0.4 million for the six months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of Perigee and other customers. Three Months Ended June 30, 2017 2016 (Loss) gain on non-trading derivatives, net (10,202 ) $ 13,322 Gain (loss) on trading derivatives, net 525 (77 ) (Loss) gain on derivatives, net (9,677 ) 13,245 Current period settlements on non-trading derivatives (1) (2) (3) 4,020 953 Current period settlements on trading derivatives (24 ) 71 Total current period settlements on derivatives $ 3,996 $ 1,024 (1) Excludes settlements of less than $0.1 million and $(0.8) million , respectively, for the three months ended June 30, 2017 and 2016 related to non-trading derivative liabilities assumed in the acquisitions of CenStar and Oasis. (2) Excludes settlements of $(1.3) million for the three months ended June 30, 2017 related to non-trading derivative liabilities assumed in the acquisitions of the Provider Companies and Major Energy Companies.
Offsetting Assets	December 31, 2016 Description Gross Assets Gross Net Assets Cash Net Amount Non-trading commodity derivatives $ 19,657 $ (11,844 ) $ 7,813 $ — $ 7,813 Trading commodity derivatives 614 (83 ) 531 — 531 Total Current Derivative Assets 20,271 (11,927 ) 8,344 — 8,344 Non-trading commodity derivatives 7,874 (4,791 ) 3,083 — 3,083 Total Non-current Derivative Assets 7,874 (4,791 ) 3,083 — 3,083 Total Derivative Assets $ 28,145 $ (16,718 ) $ 11,427 $ — $ 11,427 The following tables summarize the fair value and offsetting amounts of the Company’s derivative instruments by counterparty and collateral received or paid as of (in thousands): June 30, 2017 Description Gross Assets Gross Net Assets Cash Net Amount Non-trading commodity derivatives $ 2,160 $ (1,557 ) $ 603 $ — $ 603 Trading commodity derivatives 264 (32 ) 232 — 232 Total Current Derivative Assets 2,424 (1,589 ) 835 — 835 Non-trading commodity derivatives 1,029 (1,145 ) (116 ) — (116 ) Trading commodity derivatives 306 (68 ) 238 — 238 Total Non-current Derivative Assets 1,335 (1,213 ) 122 — 122 Total Derivative Assets $ 3,759 $ (2,802 ) $ 957 $ — $ 957 December 31, 2016 Description Gross Assets Gross Net Assets Cash Net Amount Non-trading commodity derivatives $ 19,657 $ (11,844 ) $ 7,813 $ — $ 7,813 Trading commodity derivatives 614 (83 ) 531 — 531 Total Current Derivative Assets 20,271 (11,927 ) 8,344 — 8,344 Non-trading commodity derivatives 7,874 (4,791 ) 3,083 — 3,083 Total Non-current Derivative Assets 7,874 (4,791 ) 3,083 — 3,083 Total Derivative Assets $ 28,145 $ (16,718 ) $ 11,427 $ — $ 11,427 The following tables summarize the fair value and offsetting amounts of the Company’s derivative instruments by counterparty and collateral received or paid as of (in thousands): June 30, 2017 Description Gross Assets Gross Net Assets Cash Net Amount Non-trading commodity derivatives $ 2,160 $ (1,557 ) $ 603 $ — $ 603 Trading commodity derivatives 264 (32 ) 232 — 232 Total Current Derivative Assets $ 2,424 $ (1,589 ) $ 835 $ — $ 835 Non-trading commodity derivatives $ 1,029 $ (1,145 ) $ (116 ) $ — $ (116 ) Total Non-current Derivative Assets $ 1,335 $ (1,213 ) $ 122 $ — $ 122 Total Derivative Assets $ 3,759 $ (2,802 ) $ 957 $ — $ 957
Offsetting Liabilities	December 31, 2016 Description Gross Gross Net Cash Net Amount Non-trading commodity derivatives $ (662 ) $ 69 $ (593 ) $ — $ (593 ) Trading commodity derivatives (92 ) 5 (87 ) — (87 ) Total Current Derivative Liabilities (754 ) 74 (680 ) — (680 ) Non-trading commodity derivatives (305 ) 237 (68 ) — (68 ) Total Non-current Derivative Liabilities (305 ) 237 (68 ) — (68 ) Total Derivative Liabilities $ (1,059 ) $ 311 $ (748 ) $ — $ (748 ) June 30, 2017 Description Gross Gross Net Cash Net Amount Non-trading commodity derivatives $ (22,183 ) $ 15,040 $ (7,143 ) $ 300 $ (6,843 ) Trading commodity derivatives (128 ) 24 (104 ) — (104 ) Total Current Derivative Liabilities (22,311 ) 15,064 (7,247 ) 300 (6,947 ) Non-trading commodity derivatives (8,399 ) 4,688 (3,711 ) — (3,711 ) Trading commodity derivatives — — — — — Total Non-current Derivative Liabilities (8,399 ) 4,688 (3,711 ) — (3,711 ) Total Derivative Liabilities $ (30,710 ) $ 19,752 $ (10,958 ) $ 300 $ (10,658 ) June 30, 2017 Description Gross Gross Net Cash Net Amount Non-trading commodity derivatives $ (22,183 ) $ 15,040 $ (7,143 ) $ 300 $ (6,843 ) Trading commodity derivatives (128 ) 24 (104 ) — (104 ) Total Current Derivative Liabilities $ (22,311 ) $ 15,064 $ (7,247 ) $ 300 $ (6,947 ) Non-trading commodity derivatives $ (8,399 ) $ 4,688 $ (3,711 ) $ — $ (3,711 ) Trading commodity derivatives $ — $ — $ — $ — $ — Total Non-current Derivative Liabilities $ (8,399 ) $ 4,688 $ (3,711 ) $ — $ (3,711 ) Total Derivative Liabilities $ (30,710 ) $ 19,752 $ (10,958 ) $ 300 $ (10,658 ) December 31, 2016 Description Gross Gross Net Cash Net Amount Non-trading commodity derivatives $ (662 ) $ 69 $ (593 ) $ — $ (593 ) Trading commodity derivatives (92 ) 5 (87 ) — (87 ) Total Current Derivative Liabilities (754 ) 74 (680 ) — (680 ) Non-trading commodity derivatives (305 ) 237 (68 ) — (68 ) Total Non-current Derivative Liabilities (305 ) 237 (68 ) — (68 ) Total Derivative Liabilities $ (1,059 ) $ 311 $ (748 ) $ — $ (748 )

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Below is a reconciliation of retail gross margin to income before income tax expense (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Reconciliation of Retail Gross Margin to Income before taxes Income before income tax expense $ 5,080 $ 23,729 $ 18,617 $ 40,458 Interest and other income 265 (195 ) 66 (100 ) Interest expense 2,452 832 5,897 1,585 Operating Income 7,797 24,366 24,580 41,943 Depreciation and amortization 9,656 8,253 18,926 15,042 General and administrative 19,346 19,799 43,839 37,179 Less: Net asset optimization expenses (168 ) (677 ) (361 ) (150 ) Net, (loss) gain on non-trading derivative instruments (10,202 ) 13,322 (31,578 ) 3,702 Net, Cash settlements on non-trading derivative instruments 4,020 953 11,535 12,230 Retail Gross Margin $ 43,149 $ 38,820 $ 107,749 $ 78,382
Schedule of Segment Reporting Information, by Segment	Financial data for business segments are as follows (in thousands): Three Months Ended June 30, 2017 Retail Retail Corporate Eliminations Spark Retail Total Revenues $ 131,908 $ 19,528 $ — $ — $ 151,436 Retail cost of revenues 102,079 12,558 — — 114,637 Less: Net asset optimization expenses — (168 ) — — (168 ) Losses on non-trading derivatives (9,333 ) (869 ) — — (10,202 ) Current period settlements on non-trading derivatives 4,299 (279 ) — — 4,020 Retail Gross Margin $ 34,863 $ 8,286 $ — $ — $ 43,149 Total Assets at June 30, 2017 $ 838,978 $ 302,637 $ 247,693 $ (980,595 ) $ 408,713 Goodwill at June 30, 2017 $ 78,417 $ 2,530 $ — $ — $ 80,947 Three Months Ended June 30, 2016 Retail Retail Corporate Eliminations Spark Retail Total revenues $ 87,395 $ 21,986 $ — $ — $ 109,381 Retail cost of revenues 49,717 7,246 — — 56,963 Less: Net asset optimization revenues — (677 ) — — (677 ) Gains on non-trading derivatives 10,319 3,003 — — 13,322 Current period settlements on non-trading derivatives (272 ) 1,225 — — 953 Retail Gross Margin $ 27,631 $ 11,189 $ — $ — $ 38,820 Total Assets at December 31, 2016 $ 577,695 $ 242,739 $ 169,404 $ (613,670 ) $ 376,168 Goodwill at December 31, 2016 $ 76,617 $ 2,530 $ — $ — $ 79,147 Six Months Ended June 30, 2017 Retail Retail Corporate Eliminations Spark Retail Total revenues $ 265,602 $ 82,141 $ — $ — $ 347,743 Retail cost of revenues 210,923 49,475 — — 260,398 Less: Net asset optimization expenses — (361 ) — — (361 ) Losses on non-trading derivatives (28,960 ) (2,618 ) — — (31,578 ) Current period settlements on non-trading derivatives 12,005 (470 ) — — 11,535 Retail Gross Margin $ 71,634 $ 36,115 $ — $ — $ 107,749 Total Assets at June 30, 2017 $ 838,978 $ 302,637 $ 247,693 $ (980,595 ) $ 408,713 Goodwill at June 30, 2017 $ 78,417 $ 2,530 $ — $ — $ 80,947 Six Months Ended June 30, 2016 Retail Retail Corporate Eliminations Spark Retail Total revenues $ 149,328 $ 70,599 $ — $ — $ 219,927 Retail cost of revenues 96,017 29,746 — — 125,763 Less: Net asset optimization revenues — (150 ) — — (150 ) Gains on non-trading derivatives 929 2,773 — — 3,702 Current period settlements on non-trading derivatives 9,345 2,885 — — 12,230 Retail Gross Margin $ 43,037 $ 35,345 $ — $ — $ 78,382 Total Assets at December 31, 2016 $ 577,695 $ 242,739 $ 169,404 $ (613,670 ) $ 376,168 Goodwill at December 31, 2016 $ 76,617 $ 2,530 $ — $ — $ 79,147

Formation and Organization (Det

Formation and Organization (Details) $ / shares in Units, $ in Millions	Jun. 08, 2016	Apr. 01, 2016	Jun. 30, 2017USD ($)$ / shares	Dec. 31, 2016$ / shares	Jul. 31, 2015$ / shares	Jul. 08, 2015$ / shares	May 29, 2014$ / shares	Apr. 22, 2014$ / shares
Class of Stock [Line Items]
Conversion of stock exchange ratio			1
Censtar Convertible Debt | Convertible Debt | CenStar
Class of Stock [Line Items]
Contingent consideration - earnout obligations incurred in connection with acquisitions | $			$ 2.1
Oasis Note | Convertible Debt | Oasis
Class of Stock [Line Items]
Contingent consideration - earnout obligations incurred in connection with acquisitions | $			$ 5
Common Class A
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares			$ 0.01	$ 0.01				$ 0.01
Common stock voting rights			1
Conversion of stock exchange ratio	1,000	1,000
Common Class B
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares			$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock voting rights			1

Basis of Presentation and Sum35

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017		Jun. 30, 2016	[2]	Feb. 03, 2017	Apr. 15, 2016
Business Acquisition [Line Items]
Net excess tax benefits recognized as a reduction of income taxes	$ 200
Net cash provided by (used in) operating activities	47,406	[1]	$ 49,199
Net cash provided by (used in) financing activities	(37,944)	[1]	$ 38,964
Accounting Standards Update 2016-09, Excess Tax Benefit Component
Business Acquisition [Line Items]
Net cash provided by (used in) operating activities	1,700
Net cash provided by (used in) financing activities	$ 1,700
Major Energy Companies
Business Acquisition [Line Items]
Percentage of membership interests acquired						100.00%
Perigee Energy, LLC
Business Acquisition [Line Items]
Percentage of membership interests acquired					100.00%
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

Acquisitions - Acquisition of P

Acquisitions - Acquisition of Perigee - Narrative (Details) - USD ($) $ in Thousands	Apr. 01, 2017	Jun. 30, 2017
Business Acquisition [Line Items]
Net contribution by NG&E		$ 210
National Gas & Electric, LLC
Business Acquisition [Line Items]
Net contribution by NG&E		1,400
National Gas & Electric, LLC | Perigee Energy, LLC
Business Acquisition [Line Items]
Purchase price	$ 4,400
Base price	2,000
Additional customer option payment	200
Initial working capital estimate	2,200	2,600
Working capital	$ 2,200
Net contribution by NG&E		$ 1,300

Acquisitions - Acquisition of37

Acquisitions - Acquisition of Perigee (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Apr. 01, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 80,947		$ 79,147
Perigee Energy, LLC
Business Acquisition [Line Items]
Goodwill	$ 1,500
National Gas & Electric, LLC | Perigee Energy, LLC
Business Acquisition [Line Items]
Cash		$ 23
Intangible assets - customer relationships		1,100
Goodwill		1,540
Net working capital, net of cash acquired		2,085
Fair value of derivative liabilities		(443)
Total		$ 4,305

Acquisitions - Acquisition of38

Acquisitions - Acquisition of Provider Companies (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 80,947	$ 79,147

Acquisitions - Acquisitions of

Acquisitions - Acquisitions of Provider Companies - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 01, 2017	Aug. 01, 2016	Jun. 30, 2017	Aug. 23, 2016
Common Class B
Business Acquisition [Line Items]
Share price (in dollars per share)		$ 10		$ 10
Provider Companies
Business Acquisition [Line Items]
Purchase price		$ 34.1
Initial working capital estimate		1.3
Earnout maximum		9	$ 9
Installment consideration payment		3.8
Installment payment		0.4
Provider Companies | Revolving Credit Facility | Acquisition Line
Business Acquisition [Line Items]
Borrowing from credit facility		$ 10.6
Provider Companies | Common Class B
Business Acquisition [Line Items]
Number of shares issued for acquisition (shares)		1,399,484
Issuance of Class B common stock to affiliates		$ 14
Provider Companies | Fair Value, Measurements, Recurring
Business Acquisition [Line Items]
Contingent consideration - earnout obligations incurred in connection with acquisitions	$ 4.8

Acquisitions - Acquisition of M

Acquisitions - Acquisition of Major Energy Companies - Narrative (Details) $ / shares in Units, $ in Thousands	Aug. 23, 2016USD ($)utility$ / sharesshares	Jun. 30, 2017USD ($)shares	Dec. 31, 2016USD ($)	Aug. 01, 2016$ / shares
Combination of Entities under Common Control, by Combination [Line Items]
Amount recorded as equity transaction		$ (210)
National Gas & Electric, LLC
Combination of Entities under Common Control, by Combination [Line Items]
Amount recorded as equity transaction		(1,400)
Common Class B
Combination of Entities under Common Control, by Combination [Line Items]
Share price (in dollars per share) | $ / shares	$ 10			$ 10
Major Energy Companies
Combination of Entities under Common Control, by Combination [Line Items]
Employment contract termination costs		1,900	$ 4,100
Employee contract termination liability		2,200
Major Energy Companies | National Gas & Electric, LLC
Combination of Entities under Common Control, by Combination [Line Items]
Initial working capital estimate	$ 10,300
Major Energy Companies
Combination of Entities under Common Control, by Combination [Line Items]
Number of utilities | utility	43
Consideration amount	$ 63,400
Working capital	4,300
Litigation reserve	5,000
Installment and earnout payments (up to)	35,000
Installment and earnout payments purchase date value	13,100
Amount recorded as equity transaction	$ (6,000)	(4,900)	$ (4,700)
Major Energy Companies | Common Class B
Combination of Entities under Common Control, by Combination [Line Items]
Share earnout maximum (in shares) | shares	81,436
Value of shares for earnout	$ 800	$ 800
Number of shares issued for acquisition (shares) | shares	4,000,000
Value of shares issued for acquisition	$ 40,000
Major Energy Companies | Common Class B | Maximum
Combination of Entities under Common Control, by Combination [Line Items]
Share earnout maximum (in shares) | shares	400,000	400,000
Major Energy Companies | Major Energy Companies
Combination of Entities under Common Control, by Combination [Line Items]
Working capital	$ 4,300

Acquisitions - Acquisition of41

Acquisitions - Acquisition of Major Energy Companies (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 80,947	$ 79,147
National Gas & Electric, LLC | Major Energy Companies
Business Acquisition [Line Items]
Cash	17,368	17,368
Property and equipment	14	14
Intangible assets - customer relationships & non-compete agreements	24,271	24,271
Other assets - trademarks	4,973	4,973
Non-current deferred tax assets	1,042	1,042
Goodwill	34,988	34,728
Net working capital, net of cash acquired	(6,746)	(6,746)
Fair value of derivative liabilities	(7,260)	(7,260)
Total	68,650	$ 68,390
Q1 2017 Adjustments
Goodwill	260
Total	$ 260

Equity - Non-controlling Intere

Equity - Non-controlling Interest (Details) - shares	Jan. 31, 2017	Jan. 08, 2017	Jan. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Retailco | Common Class B
Class of Stock [Line Items]
Number of shares from conversion (shares)			269,462
Censtar Convertible Debt | Common Class B
Class of Stock [Line Items]
Number of shares from conversion (shares)	766,180	269,462	766,180
The Company
Class of Stock [Line Items]
Economic interests percentage				38.12%	38.85%
The Company | NuDevco Retail and Retailco
Class of Stock [Line Items]
Economic interests percentage				61.88%	61.15%

Equity - Net Income and Income

Equity - Net Income and Income Tax on Non-controlling Interest (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Equity [Abstract]
Net income allocated to non-controlling interest		$ 3,164	$ 16,777	$ 11,569	$ 28,785
Income tax expense (benefit) allocated to non-controlling interest		(428)	124	(885)	564
Net income attributable to non-controlling interest	[1],[2]	$ 3,592	$ 16,653	$ 12,454	$ 28,221
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.

Equity - Narrative (Details)

Equity - Narrative (Details) $ / shares in Units, $ in Thousands

Mar. 15, 2017USD ($)

Jan. 31, 2017shares

Jan. 08, 2017shares

Aug. 01, 2016$ / sharesshares

Jun. 08, 2016

Apr. 01, 2016

Jan. 31, 2017shares

Jun. 30, 2017USD ($)$ / sharesshares

Jun. 30, 2016USD ($)

[2]

May 23, 2017USD ($)

Dec. 31, 2016USD ($)shares

Aug. 23, 2016$ / shares

Class of Stock [Line Items]

Treasury stock (shares)

59,726

0

Total cost of shares repurchased | $

$ 0

Proceeds from issuance of Series A Preferred Stock, net of issuance costs paid | $

$ 39,000

$ 37,937

[1]

$ 0

Preferred stock shares outstanding (shares)

1,610,000

0

Preferred stock shares issued (shares)

1,610,000

0

Conversion of stock exchange ratio

1

Common Class A

Class of Stock [Line Items]

Common stock shares outstanding (shares)

13,175,356

12,993,118

Common stock voting rights

1

Conversion of stock exchange ratio

1,000

1,000

Common Class B

Class of Stock [Line Items]

Share price (in dollars per share) | $ / shares

$ 10

$ 10

Common stock shares outstanding (shares)

21,485,126

20,449,484

Common stock voting rights

1

Common Class B | Provider Companies

Class of Stock [Line Items]

Number of shares issued for acquisition (shares)

1,399,484

Common Class B | CenStar Note

Class of Stock [Line Items]

Number of shares from conversion (shares)

269,462

Common Class B | Censtar Convertible Debt

Class of Stock [Line Items]

Number of shares from conversion (shares)

766,180

269,462

766,180

Share Repurchase Program

Class of Stock [Line Items]

Share price (in dollars per share) | $ / shares

$ 21.52

Share Repurchase Program | Common Class A

Class of Stock [Line Items]

Share repurchase program, amount authorized | $

$ 50,000

Treasury stock (shares)

59,726

Total cost of shares repurchased | $

$ 1,300

[1]

Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

[2]

Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

Equity - Earnings per Share (De

Equity - Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		Jan. 08, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Class of Stock [Line Items]
Net income attributable to Spark Energy, Inc. stockholders	[1],[2]		$ 1,079	$ 2,341	$ 3,349	$ 6,514
Less: Accumulated dividend on Series A preferred stock			991	0	1,174	0
Net income attributable to stockholders of Class A common stock			$ 88	$ 2,341	$ 2,175	$ 6,514
Basic weighted average Class A common shares outstanding			13,104,000	12,086,000	13,050,000	9,799,000
Basic EPS attributable to shareholders (in dollars per share)			$ 0.01	$ 0.19	$ 0.17	$ 0.66
Effect of conversion of Class B common stock to shares of Class A common stock			$ 0	$ 0	$ 0	$ 0
Effect of conversion of convertible subordinated notes into shares of Class B common stock and shares of Class B common stock into shares of Class A common stock (1)			0	(332)	0	(312)
Diluted net income attributable to stockholders of Class A common stock			$ 88	$ 2,009	$ 2,175	$ 6,202
Basic weighted average Class A common shares outstanding			13,104,000	12,086,000	13,050,000	9,799,000
Effect of dilutive Class B common stock (in shares)			0	0	0	0
Effect of dilutive convertible subordinated notes into shares of Class B common stock and shares of Class B common stock into shares of Class A common stock			0	986,000	0	986,000
Effect of dilutive restricted stock units (in shares)			272,000	206,000	207,000	174,000
Diluted weighted average shares outstanding			13,376,000	13,278,000	13,257,000	10,959,000
Diluted EPS attributable to shareholders (in dollars per share)			$ 0.01	$ 0.15	$ 0.16	$ 0.57
CenStar Note | Common Class B
Class of Stock [Line Items]
Number of shares from conversion (shares)		269,462
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.

Equity - Classification of Asse

Equity - Classification of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Goodwill	$ 80,947	$ 79,147
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Total Assets	354,197
Total Liabilities	224,558
Variable Interest Entity, Primary Beneficiary | Total current assets
Variable Interest Entity [Line Items]
Total Assets	231,323
Variable Interest Entity, Primary Beneficiary | Cash and cash equivalents
Variable Interest Entity [Line Items]
Total Assets	13,043
Variable Interest Entity, Primary Beneficiary | Accounts receivable
Variable Interest Entity [Line Items]
Total Assets	95,690
Variable Interest Entity, Primary Beneficiary | Other current assets
Variable Interest Entity [Line Items]
Total Assets	122,590
Variable Interest Entity, Primary Beneficiary | Total non-current assets
Variable Interest Entity [Line Items]
Total Assets	122,874
Variable Interest Entity, Primary Beneficiary | Goodwill
Variable Interest Entity [Line Items]
Goodwill	80,947
Variable Interest Entity, Primary Beneficiary | Other assets
Variable Interest Entity [Line Items]
Total Assets	41,927
Variable Interest Entity, Primary Beneficiary | Total current liabilities
Variable Interest Entity [Line Items]
Total Liabilities	124,031
Variable Interest Entity, Primary Beneficiary | Accounts payable and Accrued Liabilities
Variable Interest Entity [Line Items]
Total Liabilities	74,688
Variable Interest Entity, Primary Beneficiary | Intercompany payable with Spark Energy, Inc.
Variable Interest Entity [Line Items]
Total Liabilities	23,927
Variable Interest Entity, Primary Beneficiary | Current portion of Senior Credit Facility
Variable Interest Entity [Line Items]
Total Liabilities	7,500
Variable Interest Entity, Primary Beneficiary | Contingent consideration
Variable Interest Entity [Line Items]
Total Liabilities	5,856
Variable Interest Entity, Primary Beneficiary | Other current liabilities
Variable Interest Entity [Line Items]
Total Liabilities	12,060
Variable Interest Entity, Primary Beneficiary | Total long-term liabilities
Variable Interest Entity [Line Items]
Total Liabilities	100,527
Variable Interest Entity, Primary Beneficiary | Long-term portion of Senior Credit Facility
Variable Interest Entity [Line Items]
Total Liabilities	76,500
Variable Interest Entity, Primary Beneficiary | Contingent consideration
Variable Interest Entity [Line Items]
Total Liabilities	3,986
Variable Interest Entity, Primary Beneficiary | Other long-term liabilities
Variable Interest Entity [Line Items]
Total Liabilities	$ 5,041

Preferred Stock (Details)

Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 15, 2017	Jun. 30, 2017		Jun. 30, 2016	[2]	Dec. 31, 2016
Class of Stock [Line Items]
Preferred stock shares issued (shares)		1,610,000				0
Preferred stock par value per share (in dollars per share)		$ 0.01				$ 0.01
Proceeds from issuance of Series A Preferred Stock, net of issuance costs paid	$ 39,000	$ 37,937	[1]	$ 0
Preferred offering expenses	$ 1,000
Preferred stock shares outstanding (shares)		1,610,000				0
LIBOR
Class of Stock [Line Items]
Preferred stock dividend accrual rate	6.578%
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock shares issued (shares)	1,610,000	1,610,000				0
Preferred stock stated rate (percent)	8.75%
Preferred stock par value per share (in dollars per share)	$ 0.01
Preferred stock liquidation preference (in dollar per share)	25
Preferred stock price to the public	25
Preferred stock price, net of underwriting discounts and commissions	$ 24.21
Dividend accrual		$ 1,200
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

Preferred Stock Mezzanine Equit

Preferred Stock Mezzanine Equity (Details) - USD ($) $ in Thousands	Mar. 15, 2017	Jun. 30, 2017		Jun. 30, 2016	[2]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mezzanine equity at December 31, 2016		$ 0
Issuance of Series A Preferred Stock, net of issuance cost	$ 39,000	37,937	[1]	$ 0
Accumulated dividends on Series A Preferred Stock		1,174
Mezzanine equity at June 30, 2017		39,111
Preferred Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mezzanine equity at December 31, 2016		0
Issuance of Series A Preferred Stock, net of issuance cost		37,937
Accumulated dividends on Series A Preferred Stock		1,174
Mezzanine equity at June 30, 2017		$ 39,111
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 35,592	$ 35,267
Accumulated depreciation	(31,599)	(30,561)
Property and equipment—net	3,993	4,706
Information technology
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 29,998	29,675
Information technology | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Information technology | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,568	4,568
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,026	$ 1,024
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation	$ 0.5	$ 0.5	$ 1	$ 0.9
Information technology
Property, Plant and Equipment [Line Items]
Assets not yet placed into service	$ 1.3		$ 1.3		$ 1.1

Goodwill, Customer Relationsh51

Goodwill, Customer Relationships and Trademarks - Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 80,947	$ 79,147
Finite-Lived Intangible Assets [Line Items]
Total	39,541
Customer Relationships - Acquired
Finite-Lived Intangible Assets [Line Items]
Cost	64,671	63,571
Accumulated amortization	(37,476)	(31,660)
Total	27,195	31,911
Customer Relationships - Others
Finite-Lived Intangible Assets [Line Items]
Cost	9,828	4,320
Accumulated amortization	(3,580)	(2,708)
Total	6,248	1,612
Trademarks
Finite-Lived Intangible Assets [Line Items]
Cost	6,770	6,770
Accumulated amortization	(672)	(431)
Total	$ 6,098	$ 6,339

Goodwill, Customer Relationsh52

Goodwill, Customer Relationships and Trademarks - Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Goodwill [Roll Forward]
Balance at beginning of period		$ 79,147
Additions (Major Working Capital Adjustment)		260
Balance at end of period	$ 80,947	80,947
Finite-lived Intangible Assets [Roll Forward]
Balance at end of period	39,541	39,541
Perigee Energy, LLC
Goodwill [Roll Forward]
Additions (Major Working Capital Adjustment)		1,540
Balance at end of period	1,500	1,500
Customer Relationships - Acquired
Finite-lived Intangible Assets [Roll Forward]
Balance at beginning of period		31,911
Additions (Major Working Capital Adjustment)		0
Amortization expense	(3,600)	(5,816)
Balance at end of period	27,195	27,195
Customer Relationships - Acquired | Perigee Energy, LLC
Finite-lived Intangible Assets [Roll Forward]
Additions (Major Working Capital Adjustment)		1,100
Customer Relationships - Others
Finite-lived Intangible Assets [Roll Forward]
Balance at beginning of period		1,612
Additions (Major Working Capital Adjustment)		0
Amortization expense		(872)
Balance at end of period	6,248	6,248
Customer Relationships - Others | Perigee Energy, LLC
Finite-lived Intangible Assets [Roll Forward]
Additions (Major Working Capital Adjustment)		5,508
Trademarks
Finite-lived Intangible Assets [Roll Forward]
Balance at beginning of period		6,339
Additions (Major Working Capital Adjustment)		0
Amortization expense		(241)
Balance at end of period	6,098	6,098
Trademarks | Perigee Energy, LLC
Finite-lived Intangible Assets [Roll Forward]
Additions (Major Working Capital Adjustment)		0
Customer Contracts | Cost of Revenue
Finite-lived Intangible Assets [Roll Forward]
Amortization expense	$ (600)	$ (500)

Goodwill, Customer Relationsh53

Goodwill, Customer Relationships and Trademarks - Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2017USD ($)
Year ending December 31,
2,017	$ 7,257
2,018	12,393
2,019	7,948
2,020	3,880
2,021	2,811
More than 5 years	5,252
Total	$ 39,541

Customer Acquisitions (Details)

Customer Acquisitions (Details) $ in Millions	Apr. 03, 2017USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Payments to acquire RCEs	$ 4.9
Customer Relationships - Acquired
Acquired Finite-Lived Intangible Assets [Line Items]
Purchase price for RCEs	$ 7
Amortization period	3 years

Debt - Components of Debt (Deta

Debt - Components of Debt (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total current debt	$ 7,500	$ 73,370
Convertible subordinated notes to affiliates	0	6,582
Subordinated debt—affiliate	15,000	5,000
Total long-term debt	91,500	5,000
Total debt	99,000	78,370
Trade Credit Arrangements With Pacific Summit Energy LLC
Debt Instrument [Line Items]
Total current debt	0	15,501
Senior Credit Facility
Debt Instrument [Line Items]
Letters of credit issued	$ 33,700	$ 29,600
Weighted average interest rate on current portion of debt	4.62%	4.93%
Senior Credit Facility | Bridge Loan
Debt Instrument [Line Items]
Total current debt	$ 7,500	$ 0
Senior Credit Facility | Acquisition Line
Debt Instrument [Line Items]
Total long-term debt	76,500	0
Senior Credit Facility | Working Capital Line
Debt Instrument [Line Items]
Total current debt	0	29,000
Senior Credit Facility | Acquisition Line
Debt Instrument [Line Items]
Total current debt	$ 0	$ 22,287

Debt - Debt Components Narrativ

Debt - Debt Components Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Deferred financing costs	$ 1.6	$ 0.4
Total current assets
Debt Instrument [Line Items]
Deferred financing costs	0.8	0.4
Other assets
Debt Instrument [Line Items]
Deferred financing costs	$ 0.8	$ 0

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Line of Credit Facility [Line Items]
Amortization of deferred financing costs		$ 283	$ 117	$ 531	$ 234
Interest Expense	[1],[2]	2,452	832	5,897	1,585
Provider Earnout
Line of Credit Facility [Line Items]
Accretion of contingent earnout consideration (included within interest expense)		100		100
Major Earnout
Line of Credit Facility [Line Items]
Accretion of contingent earnout consideration (included within interest expense)		1,400		2,600
Convertible Subordinated Notes
Line of Credit Facility [Line Items]
Interest incurred on convertible subordinated notes to affiliate		0	127	1,052	253
Amortization of discount		0	100	0	100
Working Capital Facility
Line of Credit Facility [Line Items]
Letters of credit fees and commitment fees		193	183	417	375
Working Capital Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Interest incurred on Senior Credit Facility (1)		543	405	1,237	723
Level 3 | Fair Value, Measurements, Recurring
Line of Credit Facility [Line Items]
Accretion of contingent earnout consideration (included within interest expense)		$ 1,433	$ 0	2,660	$ 0
Level 3 | Fair Value, Measurements, Recurring | Provider Earnout
Line of Credit Facility [Line Items]
Accretion of contingent earnout consideration (included within interest expense)				$ 107
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.

Debt - Senior Credit Facility (

Debt - Senior Credit Facility (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	May 20, 2017	May 19, 2017	Dec. 31, 2016	Sep. 29, 2016
Line of Credit Facility [Line Items]
Subordinated debt—affiliate	$ 15,000,000			$ 5,000,000
Total current debt	$ 7,500,000			$ 73,370,000
Senior Secured Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum leverage ratio	200.00%
Debt default, material judgment (in excess of)	$ 5,000,000
Senior Secured Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Fixed charge coverage ratio	125.00%
Senior Secured Revolving Credit Facility | Common Class A
Line of Credit Facility [Line Items]
Amount entitled to repurchase of Class A common stock	10,000,000
Senior Secured Revolving Credit Facility | Common Class A and Common Class B
Line of Credit Facility [Line Items]
Default share limit, minimum amount	13,600,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 120,000,000
Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 150,000,000
Revolving Credit Facility | Working Capital Line
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			85,000,000		$ 82,500,000
Reduction to interest rate if facility utilization is less than fifty percent	0.25%
Nonutilization fee	0.50%
Revolving Credit Facility | Working Capital Line | Eurodollar
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.00%
Revolving Credit Facility | Working Capital Line | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Revolving Credit Facility | Working Capital Line | Federal Funds Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Working Capital Line | Reference Eurodollar Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility | Bridge Loan
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 30,000,000
Revolving Credit Facility | Acquisition Line
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 25,000,000
Financing of cost of acquisitions, maximum percentage	75.00%
Revolving Credit Facility | Acquisition Line | Eurodollar | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.75%
Revolving Credit Facility | Acquisition Line | Base Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%
Revolving Credit Facility | Acquisition Line | Federal Funds Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Acquisition Line | Reference Eurodollar Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%

Debt - Convertible Subordinated

Debt - Convertible Subordinated Notes to Affiliate (Details) - USD ($)

Jan. 31, 2017

Jan. 08, 2017

Jul. 31, 2015

Jul. 08, 2015

Jan. 31, 2017

Jun. 30, 2017

Jun. 30, 2016

Jun. 30, 2017

Jun. 30, 2016

Dec. 31, 2016

May 12, 2015

May 29, 2014

Apr. 22, 2014

Debt Instrument [Line Items]

Convertible subordinated notes to affiliates

$ 0

$ 0

$ 6,582,000

Conversion price (in dollars per share)

$ 7

Interest expense

[1],[2]

$ 2,452,000

$ 832,000

$ 5,897,000

$ 1,585,000

Common Class B

Debt Instrument [Line Items]

Common stock par value per share (in dollars per share)

$ 0.01

$ 0.01

$ 0.01

$ 0.01

$ 0.01

$ 0.01

Common Class A

Debt Instrument [Line Items]

Common stock par value per share (in dollars per share)

$ 0.01

$ 0.01

$ 0.01

$ 0.01

Market price (in dollars per share)

$ 8.11

Censtar Convertible Debt | Common Class B

Debt Instrument [Line Items]

Number of shares from conversion (shares)

766,180

269,462

766,180

Oasis Note | Common Class B

Debt Instrument [Line Items]

Number of shares from conversion (shares)

766,180

Convertible Debt | Censtar Convertible Debt

Debt Instrument [Line Items]

Interest rate

5.00%

Period in which conversion rights may not be exercised (in months)

18 months

Convertible Debt | Censtar Convertible Debt | Common Class B

Debt Instrument [Line Items]

Conversion price (in dollars per share)

$ 8.285

Convertible Debt | Censtar Convertible Debt | CenStar

Debt Instrument [Line Items]

Convertible subordinated notes to affiliates

$ 2,100,000

Convertible Debt | Senior Secured Revolving Credit Facility

Debt Instrument [Line Items]

Required minimum availability

$ 5,000,000

$ 5,000,000

Convertible Debt | Oasis Note

Debt Instrument [Line Items]

Interest rate

5.00%

Conversion price (in dollars per share)

$ 7

Period in which conversion rights may not be exercised (in months)

18 months

Intrinsic value

$ 800,000

Interest expense

$ 1,000,000

Convertible Debt | Oasis Note | Common Class B

Debt Instrument [Line Items]

Conversion price (in dollars per share)

$ 7

Convertible Debt | Oasis Note | Oasis

Debt Instrument [Line Items]

Convertible subordinated notes to affiliates

$ 5,000,000

[1]

Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.

[2]

Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.

Debt - Subordinated Debt Facili

Debt - Subordinated Debt Facility (Details) - USD ($) $ in Thousands	Dec. 27, 2016	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Current portion of note payable		$ 0	$ 15,501
Subordinated debt—affiliate		$ 15,000	$ 5,000
Subordinated Debt | Retailco
Debt Instrument [Line Items]
Subordinated borrowing, interest rate	5.00%
Subordinated debt—affiliate	$ 25,000
Subordinated debt, advances	$ 1,000
Subordinated debt, interest rate on advances	5.00%
Minimum availability under the borrowing base	$ 5,000

Debt - Pacific Summit Energy LL

Debt - Pacific Summit Energy LLC (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)trade_credit_arrangement	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Total current debt	$ 7,500	$ 73,370
Current portion of note payable	0	15,501
Trade Credit Arrangements With Pacific Summit Energy LLC
Debt Instrument [Line Items]
Total current debt	$ 0	$ 15,501
Trade Credit Arrangements With Pacific Summit Energy LLC | Major Energy Companies
Debt Instrument [Line Items]
Number of trade credit arrangements | trade_credit_arrangement	3
Interest rate	4.00%
Trade Credit Arrangements With Pacific Summit Energy LLC | Major Energy Companies | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	300.00%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Aug. 23, 2016	Apr. 15, 2016	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017		Jun. 30, 2016		Dec. 31, 2016	Aug. 01, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current contingent consideration for acquisitions			$ 5,856,000		$ 5,856,000		$ 5,856,000				$ 11,827,000
Contingent consideration for acquisitions - noncurrent			3,986,000		3,986,000		3,986,000				10,826,000
Increase in estimate of CenStar Earnout							$ (2,568,000)	[1]	$ 1,000,000	[2]
Major Energy Companies | Common Class B
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share earnout maximum (in shares)	81,436
Major Energy Companies | Common Class B | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share earnout maximum (in shares)	400,000						400,000
Provider Earnout
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accretion on fair value of Major Earnout and Provider Earnout liabilities					100,000		$ 100,000
Major Earnout
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accretion on fair value of Major Earnout and Provider Earnout liabilities					1,400,000		$ 2,600,000
Provider Earnout
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Performance period (in years)							9 months
Earnout payments			4,500,000	$ 1,000,000
Earnout maximum			9,000,000		9,000,000		$ 9,000,000					$ 9,000,000
Earnout minimum			5,000,000		5,000,000		5,000,000
CenStar Earnout
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent payment arrangement											(4,900,000)
Major Energy Companies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout payments				$ 7,400,000
Major Energy Companies | National Gas & Electric, LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Performance period (in years)		33 months
Earnout maximum		$ 20,000,000	9,800,000		9,800,000		9,800,000
Decrease in fair value recorded in general and administrative expense							3,100,000
Major Energy Companies | Major Earnout
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accretion on fair value of Major Earnout and Provider Earnout liabilities					1,400,000		2,600,000
Variable Interest Entity, Primary Beneficiary | Business Combination, Contingent Consideration, Liability, Current [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current contingent consideration for acquisitions			5,800,000		5,800,000		5,800,000				11,800,000
Contingent consideration for acquisitions - noncurrent											10,800,000
Variable Interest Entity, Primary Beneficiary | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration for acquisitions - noncurrent			4,000,000		4,000,000		4,000,000
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			957,000		957,000		957,000				11,427,000
Derivative liabilities			(10,658,000)		(10,658,000)		(10,658,000)				(748,000)
Contingent payment arrangement			(9,842,000)		(9,842,000)		(9,842,000)				(22,653,000)
Fair Value, Measurements, Recurring | Provider Earnout
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent payment arrangement			0		0		0
Fair Value, Measurements, Recurring | Major Earnout
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent payment arrangement			(9,800,000)		(9,800,000)		(9,800,000)				(17,100,000)
Fair Value, Measurements, Recurring | CenStar Earnout
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent payment arrangement			(100,000)		(100,000)		(100,000)				(700,000)
Fair Value, Measurements, Recurring | Non-trading Commodity Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			487,000		487,000		487,000				10,896,000
Derivative liabilities			(10,554,000)		(10,554,000)		(10,554,000)				(661,000)
Fair Value, Measurements, Recurring | Trading Commodity Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			470,000		470,000		470,000				531,000
Derivative liabilities			(104,000)		(104,000)		(104,000)				(87,000)
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			67,000		67,000		67,000				1,612,000
Derivative liabilities			(211,000)		(211,000)		(211,000)				0
Contingent payment arrangement			0		0		0				0
Fair Value, Measurements, Recurring | Level 1 | Non-trading Commodity Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			0		0		0				1,511,000
Derivative liabilities			(160,000)		(160,000)		(160,000)				0
Fair Value, Measurements, Recurring | Level 1 | Trading Commodity Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			67,000		67,000		67,000				101,000
Derivative liabilities			(51,000)		(51,000)		(51,000)				0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			890,000		890,000		890,000				9,815,000
Derivative liabilities			(10,447,000)		(10,447,000)		(10,447,000)				(748,000)
Contingent payment arrangement			0		0		0				0
Fair Value, Measurements, Recurring | Level 2 | Non-trading Commodity Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			487,000		487,000		487,000				9,385,000
Derivative liabilities			(10,394,000)		(10,394,000)		(10,394,000)				(661,000)
Fair Value, Measurements, Recurring | Level 2 | Trading Commodity Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			403,000		403,000		403,000				430,000
Derivative liabilities			(53,000)		(53,000)		(53,000)				(87,000)
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			0		0		0				0
Derivative liabilities			0		0		0				0
Contingent payment arrangement			(9,842,000)		(9,842,000)		(9,842,000)				(22,653,000)
Increase in estimate of CenStar Earnout							(2,568,000)
Accretion on fair value of Major Earnout and Provider Earnout liabilities					1,433,000	$ 0	2,660,000		$ 0
Fair Value, Measurements, Recurring | Level 3 | Provider Earnout
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent payment arrangement											(4,893,000)
Increase in estimate of CenStar Earnout							500,000
Accretion on fair value of Major Earnout and Provider Earnout liabilities							107,000
Fair Value, Measurements, Recurring | Level 3 | Non-trading Commodity Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			0		0		0				0
Derivative liabilities			0		0		0				0
Fair Value, Measurements, Recurring | Level 3 | Trading Commodity Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			0		0		0				0
Derivative liabilities			$ 0		$ 0		$ 0				$ 0
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurements Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017		Jun. 30, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in Fair Value of Earnout liabilities			$ (2,568)	[1]	$ 1,000	[2]
Provider Earnout
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Accretion of contingent earnout consideration (included within interest expense)	$ 100		100
Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent payment arrangement, beginning			22,653
Contingent payment arrangement, ending	9,842		9,842
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent payment arrangement, beginning			22,653
Change in Fair Value of Earnout liabilities			(2,568)
Accretion of contingent earnout consideration (included within interest expense)	1,433	$ 0	2,660		$ 0
Payments			(12,903)
Contingent payment arrangement, ending	9,842		9,842
Fair Value, Measurements, Recurring | Level 3 | Major Earnout And Stock Earnout [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent payment arrangement, beginning			17,760
Change in Fair Value of Earnout liabilities			(3,068)
Accretion of contingent earnout consideration (included within interest expense)			2,553
Payments			(7,403)
Contingent payment arrangement, ending	$ 9,842		9,842
Fair Value, Measurements, Recurring | Level 3 | Provider Earnout
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent payment arrangement, beginning			4,893
Change in Fair Value of Earnout liabilities			500
Accretion of contingent earnout consideration (included within interest expense)			107
Payments			$ (5,500)
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

Accounting for Derivative Ins64

Accounting for Derivative Instruments - Narrative (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Collateral fee	$ 300,000	$ 0

Accounting for Derivative Ins65

Accounting for Derivative Instruments - Volumetric Underlying Derivative Transactions (Details) MWh in Thousands, MMBTU in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017MWhMMBTU	Dec. 31, 2016MWhMMBTU
Non-trading | Natural Gas | Buy
Derivatives, Fair Value [Line Items]
Net notional volume	9,054	8,016
Non-trading | Natural Gas Basis | Buy
Derivatives, Fair Value [Line Items]
Net notional volume	0	0
Non-trading | Electricity | Buy
Derivatives, Fair Value [Line Items]
Net notional volume | MWh	5,001	3,958
Trading | Natural Gas | Buy
Derivatives, Fair Value [Line Items]
Net notional volume	683
Trading | Natural Gas | Sell
Derivatives, Fair Value [Line Items]
Net notional volume		953
Trading | Natural Gas Basis | Buy
Derivatives, Fair Value [Line Items]
Net notional volume	78
Trading | Natural Gas Basis | Sell
Derivatives, Fair Value [Line Items]
Net notional volume		380

Accounting for Derivative Ins66

Accounting for Derivative Instruments - Gains (Losses) on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivatives, net	$ (9,677)	$ 13,245	$ (31,473)	$ 3,496
Total current period settlements on derivatives	3,996	1,024	11,351	12,296
Non-trading
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivatives, net	(10,202)	13,322	(31,578)	3,702
Total current period settlements on derivatives	4,020	953	11,535	12,230
Non-trading | Censtar and Oasis Power Holdings
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivatives, net		900	100	100
Non-trading | Provider Companies and Major Energy Companies
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivatives, net	1,300		100
Non-trading | Major Energy Companies
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivatives, net		3,400		3,400
Non-trading | Perigee and Other Customers
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivatives, net	400		400
Trading
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivatives, net	525	(77)	105	(206)
Total current period settlements on derivatives	$ (24)	$ 71	$ (184)	$ 66

Accounting for Derivative Ins67

Accounting for Derivative Instruments - Offsetting Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Commodity Contract
Offsetting Assets [Line Items]
Gross Assets	$ 3,759	$ 28,145
Gross Amounts Offset	(2,802)	(16,718)
Net Assets	957	11,427
Cash Collateral Offset	0	0
Net Amount Presented	957	11,427
Commodity Contract, Current
Offsetting Assets [Line Items]
Gross Assets	2,424	20,271
Gross Amounts Offset	(1,589)	(11,927)
Net Assets	835	8,344
Cash Collateral Offset	0	0
Net Amount Presented	835	8,344
Trading Commodity Contract, Current
Offsetting Assets [Line Items]
Gross Assets	264	614
Gross Amounts Offset	(32)	(83)
Net Assets	232	531
Cash Collateral Offset	0	0
Net Amount Presented	232	531
Not Designated as Hedging Instrument | Non-trading Commodity Contract, Current
Offsetting Assets [Line Items]
Gross Assets	2,160	19,657
Gross Amounts Offset	(1,557)	(11,844)
Net Assets	603	7,813
Cash Collateral Offset	0	0
Net Amount Presented	603	7,813
Not Designated as Hedging Instrument | Commodity Contract, Noncurrent
Offsetting Assets [Line Items]
Gross Assets	1,335	7,874
Gross Amounts Offset	(1,213)	(4,791)
Net Assets	122	3,083
Cash Collateral Offset	0	0
Net Amount Presented	122	3,083
Not Designated as Hedging Instrument | Non-trading Commodity Contract, Noncurrent
Offsetting Assets [Line Items]
Gross Assets	1,029	7,874
Gross Amounts Offset	(1,145)	(4,791)
Net Assets	(116)	3,083
Cash Collateral Offset	0	0
Net Amount Presented	(116)	$ 3,083
Not Designated as Hedging Instrument | Trading Commodity Contract, Noncurrent
Offsetting Assets [Line Items]
Gross Assets	306
Gross Amounts Offset	(68)
Net Assets	238
Cash Collateral Offset	0
Net Amount Presented	$ 238

Accounting for Derivative Ins68

Accounting for Derivative Instruments - Offsetting Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Commodity Contract
Offsetting Liabilities [Line Items]
Gross Liabilities	$ (30,710)	$ (1,059)
Gross Amounts Offset	19,752	311
Net Liabilities	(10,958)	(748)
Cash Collateral Offset	300	0
Net Amount Presented	(10,658)	(748)
Commodity Contract, Current
Offsetting Liabilities [Line Items]
Gross Liabilities	(22,311)	(754)
Gross Amounts Offset	15,064	74
Net Liabilities	(7,247)	(680)
Cash Collateral Offset	300	0
Net Amount Presented	(6,947)	(680)
Trading Commodity Contract, Current
Offsetting Liabilities [Line Items]
Gross Liabilities	(128)	(92)
Gross Amounts Offset	24	5
Net Liabilities	(104)	(87)
Cash Collateral Offset	0	0
Net Amount Presented	(104)	(87)
Not Designated as Hedging Instrument | Non-trading Commodity Contract, Current
Offsetting Liabilities [Line Items]
Gross Liabilities	(22,183)	(662)
Gross Amounts Offset	15,040	69
Net Liabilities	(7,143)	(593)
Cash Collateral Offset	300	0
Net Amount Presented	(6,843)	(593)
Not Designated as Hedging Instrument | Trading Commodity Contract, Current
Offsetting Liabilities [Line Items]
Gross Liabilities	0
Gross Amounts Offset	0
Net Liabilities	0
Cash Collateral Offset	0
Net Amount Presented	0
Not Designated as Hedging Instrument | Commodity Contract, Noncurrent
Offsetting Liabilities [Line Items]
Gross Liabilities	(8,399)	(305)
Gross Amounts Offset	4,688	237
Net Liabilities	(3,711)	(68)
Cash Collateral Offset	0	0
Net Amount Presented	(3,711)	(68)
Not Designated as Hedging Instrument | Non-trading Commodity Contract, Noncurrent
Offsetting Liabilities [Line Items]
Gross Liabilities	(8,399)	(305)
Gross Amounts Offset	4,688	237
Net Liabilities	(3,711)	(68)
Cash Collateral Offset	0	0
Net Amount Presented	$ (3,711)	$ (68)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	Jun. 08, 2016	Apr. 01, 2016	Feb. 03, 2016	Jun. 30, 2017	Jun. 30, 2016
Related Party Transaction [Line Items]
Income tax rate				15.10%	14.10%
Affiliated Entity | Retailco
Related Party Transaction [Line Items]
Number of shares of common stock exchanged	1,000,000	3,450,000	2,000,000
Net deferred tax asset	$ 5.3	$ 7.6	$ 8
Long-term deferred tax liability	6.9	10.3	10.3
Long-term deferred tax asset	$ 2.6	$ 3.9	$ 3.9
NuDevco Retail Holdings and NuDevco Retail
Related Party Transaction [Line Items]
Net deferred tax asset				$ 15.6
Payable pursuant to the TRA				49.9
Long-term deferred tax asset related to the TRA				$ 19.7

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jan. 19, 2016	Jun. 30, 2017	Dec. 31, 2016
Provider Companies | Pending Litigation | Halifax-American Energy Company, LLC et al v. Provider Power, LLC, Electricity N.H., LLC, Electricity Maine, LLC, Emile Clavet and Kevin Dean
Loss Contingencies [Line Items]
Litigation settlement amount	$ (0.6)
Attorney fees	$ 0.3
Contingent liabilities		$ 1	$ 1
Indirect Tax Audits
Loss Contingencies [Line Items]
Loss during the period		$ 1.8

Transactions with Affiliates (D

Transactions with Affiliates (Details) - USD ($)

Dec. 27, 2016

Aug. 23, 2016

Aug. 01, 2016

Jan. 01, 2016

Jun. 30, 2017

Jun. 30, 2016

Jun. 30, 2017

Jun. 30, 2016

Dec. 31, 2016

Jul. 31, 2015

Jul. 08, 2015

Related Party Transaction [Line Items]

Accounts receivable—affiliates

$ 3,883,000

$ 3,883,000

$ 2,624,000

Accounts payable—affiliates

4,089,000

4,089,000

3,775,000

Net asset optimization revenues

[1],[2],[3]

(168,000)

$ (677,000)

(361,000)

$ (150,000)

Retail cost of revenues (less than)

[1],[2],[4]

114,637,000

56,963,000

260,398,000

125,763,000

General and administrative expense - affiliates

[1],[2],[5]

19,346,000

19,799,000

43,839,000

37,179,000

Proceeds from disgorgement of stockholders short-swing profits

666,000

[6]

580,000

[7]

Subordinated debt—affiliate

15,000,000

$ 15,000,000

$ 5,000,000

Tax receivable agreement, net cash savings (as a percent)

15.00%

Common Class B

Related Party Transaction [Line Items]

Share price (in dollars per share)

$ 10

$ 10

Convertible Debt | CenStar | Censtar Convertible Debt

Related Party Transaction [Line Items]

Notes, issued amount

$ 2,100,000

Convertible Debt | Oasis | Oasis Power Holdings Convertible Debt

Related Party Transaction [Line Items]

Notes, issued amount

$ 5,000,000

Subordinated Debt | Retailco

Related Party Transaction [Line Items]

Subordinated borrowing, interest rate

5.00%

Subordinated debt—affiliate

$ 25,000,000

Subordinated debt, advances

$ 1,000,000

Subordinated debt, interest rate on advances

5.00%

Minimum availability under the borrowing base

$ 5,000,000

Retailco

Related Party Transaction [Line Items]

Proceeds from disgorgement of stockholders short-swing profits

0

$ 700,000

NuDevco Retail Holdings and NuDevco Retail | Tax Receivable Agreement

Related Party Transaction [Line Items]

Initial TRA payment

1,400,000

1,400,000

Affiliated Entity

Related Party Transaction [Line Items]

General and administrative expense - affiliates

4,600,000

9,600,000

Affiliated Entity | Purchased Natural Gas From Affiliate

Related Party Transaction [Line Items]

Cost of revenues

0

400,000

0

1,600,000

Affiliated Entity | Purchased Natural Gas Sold To Affiliate

Related Party Transaction [Line Items]

Net asset optimization revenues

0

100,000

0

200,000

Affiliated Entity | Marlin Transportation Agreement

Related Party Transaction [Line Items]

Retail cost of revenues (less than)

0

100,000

Affiliated Entity | Allocated Overhead Costs

Related Party Transaction [Line Items]

General and administrative expense - affiliates

6,300,000

3,800,000

13,700,000

8,000,000

Affiliated Entity | Property and Equipment Capitalized

Related Party Transaction [Line Items]

Amount capitalized for application, development and implementation of various systems

$ 500,000

1,100,000

Affiliated Entity | Retailco

Related Party Transaction [Line Items]

Service contract term

1 year

Service contract, renewal term

1 year

Affiliated Entity | Retailco | Allocated Overhead Costs

Related Party Transaction [Line Items]

General and administrative expense - affiliates

5,400,000

11,900,000

Affiliated Entity | Retailco | Property and Equipment Capitalized

Related Party Transaction [Line Items]

Amount capitalized for application, development and implementation of various systems

$ 200,000

300,000

NuDevco Retail and Retailco

Related Party Transaction [Line Items]

Payments of distributions to affiliates

$ 7,800,000

6,400,000

Tax receivable agreement, net cash savings (as a percent)

85.00%

NuDevco Retail and Retailco | Payment of Income Taxes Incurred by the Company

Related Party Transaction [Line Items]

Payments of distributions to affiliates

$ 12,000,000

$ 3,500,000

Subsidiary of Common Parent | Retailco | Common Class B

Related Party Transaction [Line Items]

Number of shares issued for acquisition (shares)

1,399,484

Value of shares issued for acquisition

$ 14,000,000

Subsidiary of Common Parent | National Gas & Electric, LLC | Common Class B

Related Party Transaction [Line Items]

Number of shares issued for acquisition (shares)

4,000,000

NuDevco Retail Holdings and NuDevco Retail

Related Party Transaction [Line Items]

Tax receivable agreement, deferral period

5 years

Tax receivable agreement, coverage percentage

130.00%

Tax receivable agreement, target dividend (in dollars per share)

$ 0.18125

[1]

Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.

[2]

Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.

[3]

Net asset optimization revenues (expenses) includes asset optimization revenues—affiliates of $0 and $41 for the three months ended June 30, 2017 and 2016, respectively, and asset optimization revenues—affiliates cost of revenues of $0 and $376 for the three months ended June 30, 2017 and 2016, respectively, and asset optimization revenues—affiliates of $0 and $154 for the six months ended June 30, 2017 and 2016, respectively, and asset optimization revenue—affiliates cost of revenues of $0 and $1,633 for the six months ended June 30, 2017 and 2016, respectively.

[4]

Retail cost of revenues includes retail cost of revenues—affiliates of $0 and less than $100 for the three months ended June 30, 2017 and 2016, respectively, and $0 and less than $100 for the six months ended June 30, 2017 and 2016, respectively.

[5]

General and administrative includes general and administrative expense—affiliates of $6,100 and $4,000 for the three months ended June 30, 2017 and 2016, respectively, and $13,400 and $8,400 for the six months ended June 30, 2017 and 2016, respectively.

[6]

Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

[7]

Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting [Abstract]
Asset optimization revenue	$ 39.2	$ 20.8	$ 101.1	$ 63.1
Asset optimization cost of revenues	$ 39.4	$ 21.5	$ 101.5	$ 63.3

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017		Jun. 30, 2016
Segment Reporting Information [Line Items]
Income before income tax expense	[1],[2]	$ 5,080	$ 23,729	$ 18,617		$ 40,458
Interest and other income	[1],[2]	265	(195)	66		(100)
Interest expense	[1],[2]	2,452	832	5,897		1,585
Operating Income	[1],[2]	7,797	24,366	24,580		41,943
Depreciation and amortization	[1],[2]	9,656	8,253	18,926		15,042
General and administrative	[1],[2],[3]	19,346	19,799	43,839		37,179
Less:
Net asset optimization (expense)/revenues	[1],[2],[4]	(168)	(677)	(361)		(150)
Net, (loss) gain on non-trading derivative instruments		(9,677)	13,245	(31,473)		3,496
Net, Cash settlements on non-trading derivative instruments				11,828	[5]	15,829	[6]
Retail Gross Margin		43,149	38,820	107,749		78,382
Non-trading
Less:
Net, (loss) gain on non-trading derivative instruments		(10,202)	13,322	(31,578)		3,702
Net, Cash settlements on non-trading derivative instruments		$ 4,020	$ 953	$ 11,535		$ 12,230
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[3]	General and administrative includes general and administrative expense—affiliates of $6,100 and $4,000 for the three months ended June 30, 2017 and 2016, respectively, and $13,400 and $8,400 for the six months ended June 30, 2017 and 2016, respectively.
[4]	Net asset optimization revenues (expenses) includes asset optimization revenues—affiliates of $0 and $41 for the three months ended June 30, 2017 and 2016, respectively, and asset optimization revenues—affiliates cost of revenues of $0 and $376 for the three months ended June 30, 2017 and 2016, respectively, and asset optimization revenues—affiliates of $0 and $154 for the six months ended June 30, 2017 and 2016, respectively, and asset optimization revenue—affiliates cost of revenues of $0 and $1,633 for the six months ended June 30, 2017 and 2016, respectively.
[5]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.
[6]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.

Segment Reporting - Financial D

Segment Reporting - Financial Data (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total Revenues	[1],[2]	$ 151,436	$ 109,381	$ 347,743	$ 219,927
Retail cost of revenues	[1],[2],[3]	114,637	56,963	260,398	125,763
Less:
Net asset optimization (expense)/revenues	[1],[2],[4]	(168)	(677)	(361)	(150)
Losses on non-trading derivatives		(9,677)	13,245	(31,473)	3,496
Current period settlements on non-trading derivatives		3,996	1,024	11,351	12,296
Retail Gross Margin		43,149	38,820	107,749	78,382
Total Assets		408,713		408,713		$ 376,168
Goodwill		80,947		80,947		79,147
Non-trading
Less:
Losses on non-trading derivatives		(10,202)	13,322	(31,578)	3,702
Current period settlements on non-trading derivatives		4,020	953	11,535	12,230
Operating Segments | Retail Electricity
Segment Reporting Information [Line Items]
Total Revenues		131,908	87,395	265,602	149,328
Retail cost of revenues		102,079	49,717	210,923	96,017
Less:
Net asset optimization (expense)/revenues		0	0	0	0
Retail Gross Margin		34,863	27,631	71,634	43,037
Total Assets		838,978		838,978		577,695
Goodwill		78,417		78,417		76,617
Operating Segments | Retail Electricity | Non-trading
Less:
Losses on non-trading derivatives		(9,333)	10,319	(28,960)	929
Current period settlements on non-trading derivatives		4,299	(272)	12,005	9,345
Operating Segments | Retail Natural Gas
Segment Reporting Information [Line Items]
Total Revenues		19,528	21,986	82,141	70,599
Retail cost of revenues		12,558	7,246	49,475	29,746
Less:
Net asset optimization (expense)/revenues		(168)	(677)	(361)	(150)
Retail Gross Margin		8,286	11,189	36,115	35,345
Total Assets		302,637		302,637		242,739
Goodwill		2,530		2,530		2,530
Operating Segments | Retail Natural Gas | Non-trading
Less:
Losses on non-trading derivatives		(869)	3,003	(2,618)	2,773
Current period settlements on non-trading derivatives		(279)	1,225	(470)	2,885
Corporate and Other
Segment Reporting Information [Line Items]
Total Revenues		0	0	0	0
Retail cost of revenues		0	0	0	0
Less:
Net asset optimization (expense)/revenues		0	0	0	0
Retail Gross Margin		0	0	0	0
Total Assets		247,693		247,693		169,404
Goodwill		0	0	0	0	0
Corporate and Other | Non-trading
Less:
Losses on non-trading derivatives		0	0	0	0
Current period settlements on non-trading derivatives		0	0	0	0
Eliminations
Segment Reporting Information [Line Items]
Total Revenues		0	0	0	0
Retail cost of revenues		0	0	0	0
Less:
Net asset optimization (expense)/revenues		0	0	0	0
Retail Gross Margin		0	0	0	0
Total Assets		(980,595)		(980,595)		(613,670)
Goodwill		0		0		$ 0
Eliminations | Non-trading
Less:
Losses on non-trading derivatives		0	0	0	0
Current period settlements on non-trading derivatives		$ 0	$ 0	$ 0	$ 0
[1]	Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[2]	Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies by an affiliate on April 15, 2016. See Note 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions" for further discussion.
[3]	Retail cost of revenues includes retail cost of revenues—affiliates of $0 and less than $100 for the three months ended June 30, 2017 and 2016, respectively, and $0 and less than $100 for the six months ended June 30, 2017 and 2016, respectively.
[4]	Net asset optimization revenues (expenses) includes asset optimization revenues—affiliates of $0 and $41 for the three months ended June 30, 2017 and 2016, respectively, and asset optimization revenues—affiliates cost of revenues of $0 and $376 for the three months ended June 30, 2017 and 2016, respectively, and asset optimization revenues—affiliates of $0 and $154 for the six months ended June 30, 2017 and 2016, respectively, and asset optimization revenue—affiliates cost of revenues of $0 and $1,633 for the six months ended June 30, 2017 and 2016, respectively.

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 19, 2017	Jul. 01, 2017	Apr. 03, 2017	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Deposit - Verde consideration				$ 65,785		$ 0
Payments to acquire RCEs			$ 4,900
Anticipated series A preferred stock dividends paid and declared				$ 1,174
Series A Preferred Stock | Scenario, Forecast
Subsequent Event [Line Items]
Anticipated series A preferred stock dividends paid and declared					$ 2,900
Subsequent Event | Common Class A
Subsequent Event [Line Items]
Class A common stock dividends declared (in dollars per share)	$ 0.18125
Subsequent Event | Series A Preferred Stock
Subsequent Event [Line Items]
Series A preferred stock dividend (in dollars per share)	0.546875
Series A preferred stock dividends declared (in dollars per share)	$ 2.1875
Verde Companies | Subsequent Event
Subsequent Event [Line Items]
Purchase price		$ 85,800
Working capital		20,800
Cash used to fund acquisition		6,800
Verde Companies | Subordinated Debt | Subsequent Event
Subsequent Event [Line Items]
Contingent consideration - earnout obligations incurred in connection with acquisitions		15,000
Aggregate principal amount of promissory note		20,000
Deposit - Verde consideration		65,800
Verde Companies | Senior Secured Revolving Credit Facility | Subsequent Event
Subsequent Event [Line Items]
Contingent consideration - earnout obligations incurred in connection with acquisitions		$ 44,000