Genie Energy Ltd.
Energy marketer Genie Energy is hoping to work its magic with utilities in the US Northeast. The company operates through three subsidiaries -- revenue generator Genie Retail Energy (GRE), and Afek Oil and Gas and Genie Oil and Gas. GRE resells electricity and natural gas bought from BP to residential and small business customers in New Jersey, New York, and Pennsylvania. GRE services 392,000 meters (264,000 electric and 128,000 natural gas). Top customers include Con Edison and National Grid and their subsidiaries. Genie Oil and Gas and its Afek unit explore for oil in unconventional shale plays in Colorado, Israel, and Mongolia through subsidiaries. Genie Energy is controlled by Chairman and CEO Howard Jonas.
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