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Derivative Instruments
 9 Months Ended
Sep. 30, 2013
Derivative Instruments [Abstract]  
Derivative Instruments
Note 4—Derivative Instruments
 
The primary risk managed by the Company using derivative instruments is commodity price risk. Natural gas and electricity put and call options and future contracts are entered into as hedges against unfavorable fluctuations in market prices of natural gas and electricity. The Company does not apply hedge accounting to IDT Energy’s contracts and options, therefore the changes in fair value are recorded in earnings. At September 30, 2013 and December 31, 2012, IDT Energy’s contracts and options were traded on the New York Mercantile Exchange or were over-the-counter bilateral agreements with BP Energy Company.
 
The summarized volume of IDT Energy’s outstanding contracts and options as of September 30, 2013 was as follows:
 
Commodity
  
Settlement Dates
  
Volume
Electricity
  
December 2013
  
88,340 MWh
Electricity
  
January 2014
  
44,000 MWh
Electricity
  
February 2014
  
40,000 MWh
Electricity
  
July 2014
  
52,800 MWh
Electricity
  
August 2014
  
50,400 MWh
Electricity
  
September 2014
  
16,800 MWh
Natural gas
  
November 2013
  
150,000 Dth
Natural gas
  
December 2013
  
775,000 Dth
Natural gas
  
January 2014
  
375,000 Dth
Natural gas
  
February 2014
  
1,425,000 Dth
Natural gas
  
March 2014
  
225,000 Dth
Natural gas
  
July 2014
  
77,500 Dth
 
The fair value of outstanding derivative instruments recorded as assets in the accompanying consolidated balance sheets were as follows:
 
Asset Derivatives
  
Balance Sheet Location
  
September 30, 2013
    
December 31, 2012
  
       
(in thousands)
  
Derivatives not designated or not qualifying as hedging instruments:
                
Energy contracts and options
  
Other current assets
   $
1,080
     $ 308  
 
The fair value of outstanding derivative instruments recorded as liabilities in the accompanying consolidated balance sheets were as follows:
 
Liability Derivatives
  
Balance Sheet Location
  
September 30, 2013
    
December 31, 2012
  
       
(in thousands)
  
Derivatives not designated or not qualifying as hedging instruments:
                
Energy contracts and options
  
Other current liabilities
   $
758
     $ 152  
 
The effects of derivative instruments on the consolidated statements of operations were as follows:
 
   
Amount of Gain (Loss) Recognized on Derivatives
  
   
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
  
Derivatives not designated
or not qualifying as
hedging instruments
  
Location of Gain (Loss) Recognized on
Derivatives
  
2013
    
2012
    
2013
    
2012
  
       
(in thousands)
  
Energy contracts and options
  
Direct cost of revenues
  
$
(426
) 
  
$
(17
 )   
$
(394
 )  
$
(101
 )