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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Reconciliation of Retail Gross Margin to Income Before Income Tax Expense

Below is a reconciliation of retail gross margin to gross profit (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Reconciliation of Retail Gross Margin to Gross Profit
Total Revenue			$	118,859					$	97,979					$	343,112					$	293,179
Less:
Retail cost of revenues			102,212						40,298						232,621						198,642
Gross Profit			16,647						57,681						110,491						94,537
Less:
Net asset optimization revenue (expense)			1,672						(288)						(480)						(542)
Net, (loss) gain on non-trading derivative instruments			(1,413)						32,262						54,570						58,214
Net, Cash settlements on non-trading derivative instruments			(14,068)						(5,660)						(36,067)						(6,054)
Non-recurring event - Winter Storm Uri			—						497						9,565						(64,403)
Retail Gross Margin			$	30,456					$	30,870					$	82,903					$	107,322

Schedule of Financial Data for Business Segments

Financial data for business segments are as follows (in thousands):

Three Months Ended September 30, 2022
			Retail Electricity (a)						Retail Natural Gas						Corporate and Other						Eliminations						Consolidated
Total revenues			$	104,970					$	12,217					$	1,672					$	—					$	118,859
Retail cost of revenues			92,816						9,396						—						—						102,212
Gross Profit			$	12,154					$	2,821					$	1,672					$	—					$	16,647
Less:
Net asset optimization revenue			—						—						1,672						—						1,672
Net, (loss) gain on non-trading derivative instruments			(5,290)						3,877						—						—						(1,413)
Current period settlements on non-trading derivatives			(11,063)						(3,005)						—						—						(14,068)
Retail Gross Margin			$	28,507					$	1,949					$	—					$	—					$	30,456
Total Assets at September 30, 2022			$	1,743,817					$	84,612					$	314,672					$	(1,814,947)					$	328,154
Goodwill at September 30, 2022			$	117,813					$	2,530					$	—					$	—					$	120,343

(a) Retail Electricity includes related services.

Three Months Ended September 30, 2021
			Retail Electricity						Retail Natural Gas						Corporate and Other						Eliminations						Consolidated
Total revenues			$	92,104					$	6,163					$	(288)					$	—					$	97,979
Retail cost of revenues			41,035						(737)						—						—						40,298
Gross Profit			$	51,069					$	6,900					$	(288)					$	—					$	57,681
Less:
Net asset optimization expense			—						—						(288)						—						(288)
Net, gain on non-trading derivative instruments			27,558						4,704						—						—						32,262
Current period settlements on non-trading derivatives			(5,199)						(461)						—						—						(5,660)
Non-recurring event - Winter Storm Uri			497						—						—						—						497
Retail Gross Margin			$	28,213					$	2,657					$	—					$	—					$	30,870
Total Assets at December 31, 2021			$	1,527,456					$	7,320					$	311,556					$	(1,491,056)					$	355,276
Goodwill at December 31, 2021			$	117,813					$	2,530					$	—					$	—					$	120,343

Nine Months Ended September 30, 2022
			Retail Electricity						Retail Natural Gas						Corporate and Other						Eliminations						Consolidated
Total revenues			$	275,301					$	68,291					$	(480)					$	—					$	343,112
Retail cost of revenues			189,092						43,529						—						—						232,621
Gross Profit			$	86,209					$	24,762					$	(480)					$	—					$	110,491
Less:
Net asset optimization expense			—						—						(480)						—						(480)
Net gain on non-trading derivatives			42,557						12,013						—						—						54,570
Current period settlements on non-trading derivatives			(28,317)						(7,750)						—						—						(36,067)
Non-recurring event - Winter Storm Uri			9,565						—						—						—						9,565
Retail Gross Margin			$	62,404					$	20,499					$	—					$	—					$	82,903
Total Assets at September 30, 2022			$	1,743,817					$	84,612					$	314,672					$	(1,814,947)					$	328,154
Goodwill at September 30, 2022			$	117,813					$	2,530					$	—					$	—					$	120,343

Nine Months Ended September 30, 2021
			Retail Electricity						Retail Natural Gas						Corporate and Other						Eliminations						Consolidated
Total revenues			$	242,548					$	51,173					$	(542)					$	—					$	293,179
Retail cost of revenues			179,762						18,880						—						—						198,642
Gross Profit			$	62,786					$	32,293					$	(542)					$	—					$	94,537
Less:
Net asset optimization expense			—						—						(542)						—						(542)
Net gain on non-trading derivatives			51,957						6,257						—						—						58,214
Current period settlements on non-trading derivatives			(5,246)						(808)						—						—						(6,054)
Non-recurring event - Winter Storm Uri			(64,403)						—						—						—						(64,403)
Retail Gross Margin			$	80,478					$	26,844					$	—					$	—					$	107,322
Total Assets at December 31, 2021			$	1,527,456					$	7,320					$	311,556					$	(1,491,056)					$	355,276
Goodwill at December 31, 2021			$	117,813					$	2,530					$	—					$	—					$	120,343

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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