<SEC-DOCUMENT>0001213900-17-010339.txt : 20171215
<SEC-HEADER>0001213900-17-010339.hdr.sgml : 20171215
<ACCEPTANCE-DATETIME>20171006071708
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-17-010339
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20171006

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Genie Energy Ltd.
		CENTRAL INDEX KEY:			0001528356
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				452069276
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		520 BROAD STREET
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07012
		BUSINESS PHONE:		973-438-3500

	MAIL ADDRESS:	
		STREET 1:		520 BROAD STREET
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07012

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Genie Energy. Ltd.
		DATE OF NAME CHANGE:	20110822
</SEC-HEADER>
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="img_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; margin-left: 100pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; margin-left: 100pt">October 6, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>VIA EDGAR </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36pt">Attn:</TD>
    <TD>William H. Thompson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Branch Chief</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Office of Consumer Products</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36pt; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="width: 36pt; text-indent: 0pt">Re:</TD>
    <TD STYLE="text-indent: 0pt">Genie Energy Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">Form 10-K for the fiscal year ended December 31, 2016</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">Filed March 16, 2017</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt"><U>File No. 001-16371&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Thompson:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Set forth below are the responses of Genie
Energy Ltd. (the &ldquo;Company&rdquo;) to the information requests set forth in the letter, dated September 21, 2017, of the staff
(the &ldquo;Staff&rdquo;) of the U.S. Securities and Exchange Commission (the &ldquo;Commission&rdquo;) in connection with the
Company&rsquo;s Annual Report on Form 10-K (the &ldquo;Form 10-K&rdquo;) for the fiscal year ended December 31, 2016, filed on
March 16, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">For your convenience, we have reprinted the
Staff&rsquo;s requests below prior to the corresponding Company responses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;William H. Thompson</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Branch Chief</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Office of Consumer Products</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 6, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 2 of 5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.6pt 0pt 0"><B><U>Management&rsquo;s Discussion and Analysis of
Financial Condition and Results of Operations, page 22</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>New York Public Service Commission Orders, page 24</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1. Please refer to Item 303(A)(3)(ii) of Regulation S-K and
related Instructions and tell us</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>your consideration of quantifying the potential impact or
range of potential impact on future operating results of the New York Public Service Commission Orders which seek to impose significant
new restrictions on REPs operating in New York, as we understand New York represents a significant portion of GRE&rsquo;s total
meters served. As indicated in Instruction No. 3 to Item 303(A) of Regulation S-K, the discussion and analysis of material events
and uncertainties known to management should include descriptions and amounts of matters that would have an impact on future operations
and have not had an impact in the past.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt"><I>Response: </I>As indicated in
the referenced disclosure, the efforts by the New York Public Service Commission (the &ldquo;NYPSC&rdquo;) were in a state of flux
at the time of the filing. The implementation of several of the proposed orders was the subject of injunction or restraining order,
and the NYPSC had itself indicated that it was further considering what action, if any, to take in its desire to further regulate
the REP industry in New York State. The final proposed order was the subject of discussions between the NYPSC and the REP industry.
In fact, as of the date of this letter, the NYPSC has still not implemented any regulation on the scope of the order discussed
in the referenced disclosure. The NYPSC order regarding customers enrolled in New York&rsquo;s utility low-income assistance programs
has only recently been implemented, was subject to additional legal challenge, and, at the time of the filing, the Company was
not in a position to estimate the number of customer that would be impacted by the order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">The Company disclosed the uncertainty
that was known to it and the fact that, depending on the nature of any regulation actually implemented, it could result in the
need to modify relationships with New York customers and could have a substantial impact on New York operations. Because the scope
and nature of any regulatory action was substantially unknown, or the necessary information to quantify any impact was not available
to the Company, the Company was not in a position to include any further &ldquo;descriptions and amounts of matters that would
have an impact on future operations and have not had an impact in the past.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">The Company will disclose any regulatory
activity that it believes is likely to have a material impact on its operations and, as regulation is implemented and the Company
has the information necessary to assess the impact, the Company will also describe the impact, the fact that it has not previously
impacted operations, and if appropriate and if the Company can do so accurately, quantify the expected impact.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;William H. Thompson</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Branch Chief</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Office of Consumer Products</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 6, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 3 of 5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt"><B><U>Liquidity and Capital Resources, page
37</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt"><B><U>Operating Activities, page 38</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt"><B>2. Your discussion of cash flows from operating
activities does not appear to address or explain the changes in or drivers of cash flows provided by (used in) operating activities
from year to year. Please revise or otherwise advise.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Response</I>: The first paragraph under
the heading &ldquo;Operating Activities&rdquo; in the &ldquo;Liquidity and Capital Resources&rdquo; section contains disclosure
about factors that impact changes in cash flows from operations. Specifically, the Company discloses that &ldquo;Our cash flow
from operations varies significantly from quarter to quarter and from year to year, <B>depending on our operating results and the
timing of operating cash receipts and payments, specifically trade accounts receivable and trade accounts payable, including payments
relating to our exploration and research and development activities</B>&rdquo; (emphasis added).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Further, the Company believes that certain
disclosure in the &ldquo;Overview&rdquo; and &ldquo;Results of Operations&rdquo; sections provides guidance as to drivers that
impact cash flows, as factors that impact revenues and expenses may also impact cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The further disclosure under &ldquo;Operating
Activities&rdquo; discloses specific factors that impacted cash flows from operations in 2016, including the settlement of the
Pennsylvania Public Utility Commission matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">In future periodic filings, the Company will
endeavor to include more centralized disclosure of the changes in cash flows provided by operating activities from year to year,
as well as the drivers that have had, or are expected to have, a significant impact.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;William H. Thompson</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Branch Chief</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Office of Consumer Products</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 6, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 4 of 5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 175.5pt 0pt 0"><B><U>Note 15 <I>&ndash; </I>Legal and Regulatory
Proceedings, page F-28 Legal Proceedings, page F-28</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.8pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.8pt 0pt 0"><B>3. As it relates to the various class action lawsuits
stemming from the polar vortex in early 2014, please tell us how you complied with the requirement in ASC 450-20-50 to disclose
an estimate of the possible loss or range of loss in excess of any amount accrued for these matters. Please also address this question
as it relates to the disclosures in Note 10 to your interim financial statements for the fiscal quarters ended March 31, 2017 and
June 30, 2017. In this regard, we understand you accrued a $9 million loss in the second quarter of 2017 related to a preliminary
settlement agreement to resolve the class action lawsuits. Please also tell us whether any amounts were accrued as of December
31, 2016 and March 31, 2017 based on the Memorandum of Understanding that was reached prior to the issuance of the financial statements
and if not, please explain why. Further, please explain to us the allocation between revenue and selling, general and administration
expenses of the $9 million recorded.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt"><I>Response: </I>As indicated in
the referenced disclosure, the Memorandum of Understanding on the proposed terms of a settlement remained tentative at the time
of the filing of the financial statements for the year ended December 31, 2016 (and remained tentative at the time of the filing
of the financial statements for the first quarter of 2017), and there were multiple significant items to be negotiated between
the parties. The number of items outstanding and their materiality created a reasonable likelihood that the proposed settlement
could be abandoned and the parties would return to a legal process with unknown timing and outcome. As a result of this uncertainty,
at the relevant times, the Company was unable to reasonably estimate the possible loss, or a range of loss at the time of filing
its financial statements for the year ended December 31, 2016 and for the first quarter of 2017. Accordingly, the Company did not
accrue any amount as of December 31, 2016 or March 31, 2017 for this matter. The Company disclosed the relevant facts known to
it at the relevant time, including that a Memorandum of Understanding had been agreed upon between the parties. This set of circumstances
were in effect at the time of the filing of the Form 10-K as well as the Form 10-Q for the first quarter of 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">Upon final resolution of the outstanding
issues with the signing of a settlement agreement, the Company filed a Form 8-K in which it disclosed an estimate of the potential
financial impact and included disclosure of the estimated loss that was recorded in the second quarter of 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">The $9 million accrued at June 30,
2017 included an accrual of $5.4 million for estimated legal and administrative fees relating to the settlement, and $3.6 million
of refunds expected be paid to customers. The Company recorded an expense of $5.4 million in &ldquo;Selling, general and administrative
expense&rdquo; relating to the legal and administrative fees, and a revenue reduction of $3.6 million relating to refunds to customers.
The revenue reduction was recorded in accordance with ASC 605-50-45-2 as the refunds to customers represent cash payment to customers
for which no identifiable benefit was received from the customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Signatures, page 48 </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.2pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.2pt 0pt 0"><B>4. Please refer to General Instruction D to Form
10-K and tell us how you have complied with the requirement to have the report signed on behalf of the registrant by your principal
accounting officer, along with your principal executive officer, principal financial officer and a majority of the board of directors.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt"><I>Response</I>: Avi Goldin, the
Company&rsquo;s chief financial officer, serves as both the Company&rsquo;s principal financial officer and principal accounting
officer. The Company will make note of that capacity on the signature page of future Form 10-K filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;William H. Thompson</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Branch Chief</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Office of Consumer Products</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 6, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page  5 of 5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Thank you for your assistance in this matter.
Please feel free to contact me at (973) 438-4488 if you have any questions regarding this matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Respectfully submitted,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Genie Energy Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Howard Jonas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Howard Jonas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chairman of the Board and<BR>
 Chief Executive Officer</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
