Sep. 11, 2020
Genie Energy Ltd., (NYSE: GNE) is a retail energy provider of both residential and commercial energy services. They supply electricity, natural gas, and even offer energy advisory and energy brokerage services. The company also has subsidiary companies, including IDT Energy, Inc., Genie Retail Energy International (GRE International), Mirabito Gas, Afek (Northern Israel Oil and Gas), and Genie Oil and Gas Exploration Company (GOGAS).
Genie Energy services are available to the people of several states with its subsidiary companies:
Southern Federal: The Southern Federal Texas Power Supply Company provides electricity supply services across Texas under the five main utility companies in the state.
Town Square Energy: Town Square Energy provides electric supply services in Connecticut, New Hampshire, and Massachusetts.
Residents Energy: Residents Energy offers electric supply services in Connecticut, New York, New Jersey, Pennsylvania, Ohio, Illinois, Massachusetts, and Delaware.
IDT Energy: IDT Energy acts as a retail electricity provider (REP) in Illinois, New York, Maryland, New Jersey, Ohio, Pennsylvania, and Washington DC.
You can find various Genie Energy electricity plans with any of its subsidiaries in every utility company’s service area.
Genie Energy offers a wide range of electricity plans.
The following are four types of energy plans all Genie Energy customers can choose from:
Fixed-Rate Plans: Fixed-rate plans let you pay the same rate throughout the length of your plan, saving you from unpredictable demand changes. We recommend fixed-rate plans because they provide price certainty and minimize risk. But be careful: when your term expires, your rate becomes variable and can go up without notice. Arbor automatically keeps you on the best fixed-rate plan, so you don’t have to worry about rate hikes at the end of your term.
Variable-Rate Plans: Such plans let you pay the current market cap rate depending on avg demand. Therefore, low demand means a low rate, but high demand can lead you to overpay for your electricity.
Prepaid Plans: Prepaid plans offer maximum flexibility and have no hidden costs, such as cancellation fees. You don’t need to make a deposit or get a credit check to opt for a prepaid plan.
Green Energy Plans: You can opt for a number of renewable energy plans to reduce your carbon footprint. Every subsidiary company offers either a green energy plan or renewable energy credits (RECs).
Some plans may ask you for a deposit. However, plans available through Arbor never require a deposit.
You can find each energy plan’s information on the respective energy provider’s website; it’s best to read the fine print to find out additional information on each plan. In Texas, you can read the Electricity Facts Label (EFL), it includes the following information:
The price per kilowatt-hour (kWh) depending on energy usage
Early termination fees
Percentage of electric generation using renewable sources
Percentage of electric generation through exploratory oil and gas
It’s easy to change your energy plan, whether you’re a homeowner or a small business customer. Keep in mind that your electric bill also includes your local utility charges. The utility company charges (TDU charge in Texas) covers the cost of electricity delivery, maintaining power lines, and handling power outages.
Genie Energy offers various features and incentives, including the following:
A wide range of electric plans with different rates offered by various subsidiaries
Prepaid energy plans
Convenient bill payment services
Energy advisory services
52-week range plans
Quick plan setup
Additional services, such as solar panels installation
Net income and cash flow-based payment programs
Quarterly plans (first-quarter rates may be higher than second quarter rates)
Rebates and rewards programs
You can make an account with the company you’re with to manage your plans online.
Energy deregulation has allowed multiple companies to start offering different energy plans at competitive rates.
Some companies offer low rates, while others offer competitive rates with incentives and benefits, making it tough to single any plan out. You can search and try to shop for rates yourself, but watch out for the fine print, hidden fees, and escalating rates once your term ends.
You can use Arbor’s free TrueRate Protection service to automatically find and switch to the best electricity rates in your area.
Arbor scans the market and gives you the best rates you can get in your service area. When your contract term is expiring, Arbor finds the best rate and switches you again. You always pay the best rate and never have to worry about overpaying for electricity ever again.
You can also use the free savings calculator to find out how much you could save in each case.
You can view Genie Energy’s Better Business Bureau (BBB) rating to get a better idea of its services. The company is not BBB accredited yet but has an A+ rating.
You won’t find many customer reviews for Genie Energy, but you will find reviews for its subsidiaries. Check out the reviews of the Genie Energy subsidiary that is supplying electricity in your area to learn more about the company.
There are several customer service options with Genie Energy.
You can visit the Contact Us page for general queries.
Follow Genie Energy of Facebook and Twitter to receive news and updates.
Read the latest press releases to learn about new projects and price changes. Notice common stock market changes to predict electricity rate changes.
If you want to contact your energy company directly, contact the subsidiary providing you with service.
For power outages, contact your local utility company.
It’s best to go through the FAQs on your energy company’s site before contacting a representative.
Here is some general contact information.
Genie Energy Customer Care – 1-973-438-3500
Toll-Free Number – 1-877-887-6866
Fax Number – 1-973-438-1256
Mailing Address – Genie Energy Ltd., 520 Broad Street, Newark, NJ 07102 USA
It’s best to call these numbers with your registered phone number.
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