Genie Energy to Present at Sidoti Virtual Investor Conference
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Genie Energy Announces Second Quarter 2021 Results
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NEWARK, N.J., May 6, 2021 /PRNewswire/ Genie Energy Ltd. (NYSE: GNE, GNEPRA) reported record revenue of $135.3 million and a loss per diluted share of $0.09 for the first quarter 2021.
CONSOLIDATED HIGHLIGHTS
(Throughout this release, 1Q21 results are compared to 1Q20 results unless otherwise noted)
Global RCEs served increased by 49,000 or 12.1% year over to year to 450,000. Global meters served increased by 40,000 or 7.6% year over to year to 572,000.
Consolidated revenue increased 30.1% to $135.3 million from $104.1 million driven by increased per meter consumption in domestic markets and by the consolidation of Orbit Energy during 4Q20.
Genie Retail Energy (GRE), Genie s domestic retail energy supply business, generated income from operations of $1.2 million compared to $13.0 million in 1Q20. The 1Q21 results reflect a negative impact of approximately $13.0 million attributable to the impact of a severe winter storm and resulta
Genie Energy And Community Power Partners Form Solar Joint Venture
Establish CPP Genie Community Solar to Provide Customer Aggregation and Management Services for Independent Solar Power Producers.
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NEW YORK, Dec. 16, 2020 /PRNewswire/ Community Power Partners, LLC ( CPP ), a rapidly growing community solar aggregation company, today announced a joint venture with Genie Energy, Ltd. subsidiary CityCom Solar, LLC ( CityCom Solar ), a marketer of community generated solar energy directly to end users throughout New York State.
The joint venture, CPP Genie Community Solar, LLC, will provide customer aggregation and management services to New York s independent solar power producers operating under the State s consolidated billing programs. Consolidated billing programs enable customers to receive credits from their electricity supplier for power generated by community solar programs.