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v3.25.2

Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Financial Data for Business Segments | Financial data for business segments are as follows (in thousands):
Three Months Ended June 30, 2025
| Retail Electricity (1) |  | Retail Natural Gas |  | Corporate and Other |  | Eliminations |  | Consolidated
Total revenues | $ | 66,810 |  |  | $ | 23,825 |  |  | $ | (606) |  |  | $ | — |  |  | $ | 90,029 |
Retail cost of revenues | 46,607 |  |  | 16,439 |  |  | 9 |  |  | — |  |  | 63,055 |
Less: |  |  |  |  |  |  |  |  |
Net asset optimization expense(2) | — |  |  | — |  |  | (636) |  |  | — |  |  | (636) |
Net, loss on non-trading derivative instruments | (4,842) |  |  | (1,558) |  |  | — |  |  | — |  |  | (6,400) |
Current period settlements on non-trading derivatives | 1,514 |  |  | (226) |  |  | — |  |  | — |  |  | 1,288 |
Retail Gross Margin | $ | 23,531 |  |  | $ | 9,170 |  |  | $ | 21 |  |  | $ | — |  |  | $ | 32,722 |
Add: Reconciling items (3) |  |  |  |  |  |  |  |  | (5,748) |
Gross Profit |  |  |  |  |  |  |  |  | $ | 26,974 |
Total Assets at June 30, 2025 | $ | 2,062,179 |  |  | $ | 197,693 |  |  | $ | 334,443 |  |  | $ | (2,277,972) |  |  | $ | 316,343 |
Goodwill at June 30, 2025 | $ | 117,813 |  |  | $ | 2,530 |  |  | $ | — |  |  | $ | — |  |  | $ | 120,343 |
(1) Retail Electricity includes related services. (2) For the three months ended June 30, 2025 we recorded asset optimization revenues of $2.8 million and asset optimization cost of revenues of $3.4 million, which are presented on a net basis in asset optimization revenues. (3) Reconciling item includes net asset optimization expenses, net loss and gain on non-trading derivative instruments and current period settlements on non-trading activities.
Three Months Ended June 30, 2024
| Retail Electricity(1) |  | Retail Natural Gas |  | Corporate and Other |  | Eliminations |  | Consolidated
Total revenues | $ | 71,148 |  |  | $ | 15,812 |  |  | $ | (264) |  |  | $ | — |  |  | $ | 86,696 |
Retail cost of revenues | 37,127 |  |  | 5,663 |  |  | 207 |  |  | — |  |  | 42,997 |
Less: |  |  |  |  |  |  |  |  |
Net asset optimization expense (2) | — |  |  | — |  |  | (531) |  |  | — |  |  | (531) |
Net, loss on non-trading derivative instruments | 2,607 |  |  | 553 |  |  | — |  |  | — |  |  | 3,160 |
Current period settlements on non-trading derivatives | 6,103 |  |  | 1,580 |  |  | — |  |  | — |  |  | 7,683 |
Retail Gross Margin | $ | 25,311 |  |  | $ | 8,016 |  |  | $ | 60 |  |  | $ | — |  |  | $ | 33,387 |
Add: Reconciling items (3) |  |  |  |  |  |  |  |  | 10,312 |
Gross Profit |  |  |  |  |  |  |  |  | $ | 43,699 |
Total Assets at December 31, 2024 | $ | 1,867,055 |  |  | $ | 126,911 |  |  | $ | 317,408 |  |  | $ | (1,966,435) |  |  | $ | 344,939 |
Goodwill at December 31, 2024 | $ | 117,813 |  |  | $ | 2,530 |  |  | $ | — |  |  | $ | — |  |  | $ | 120,343 |
(1) Retail Electricity includes related services. (2) For the three months ended June 30, 2024, we recorded asset optimization revenues of $3.2 million and asset optimization cost of revenues and $3.7 million, respectively, which are presented on a net basis in asset optimization revenues. (3) Reconciling item includes net asset optimization expenses, net loss and gain on non-trading derivative instruments and current period settlements on non-trading activities.
Six Months Ended June 30, 2025
| Retail Electricity(1) |  | Retail Natural Gas |  | Corporate and Other |  | Eliminations |  | Consolidated
Total revenues | $ | 147,530 |  |  | $ | 87,608 |  |  | $ | (2,852) |  |  | $ | — |  |  | $ | 232,286 |
Retail cost of revenues | 104,809 |  |  | 53,628 |  |  | 11 |  |  | — |  |  | 158,448 |
Less: |  |  |  |  |  |  |  |  |
Net asset optimization expense (2) | — |  |  | — |  |  | (2,885) |  |  | — |  |  | (2,885) |
Net, gain on non-trading derivatives | 21 |  |  | 133 |  |  | — |  |  | — |  |  | 154 |
Current period settlements on non-trading derivatives | (2,245) |  |  | (367) |  |  | — |  |  | — |  |  | (2,612) |
Retail Gross Margin | $ | 44,945 |  |  | $ | 34,214 |  |  | $ | 22 |  |  | $ | — |  |  | $ | 79,181 |
Add: Reconciling items (3) |  |  |  |  |  |  |  |  | (5,343) |
Gross Profit |  |  |  |  |  |  |  |  | $ | 73,838 |
Total Assets at June 30, 2025 | $ | 2,062,179 |  |  | $ | 197,693 |  |  | $ | 334,443 |  |  | $ | (2,277,972) |  |  | $ | 316,343 |
Goodwill at June 30, 2025 | $ | 117,813 |  |  | $ | 2,530 |  |  | $ | — |  |  | $ | — |  |  | $ | 120,343 |
(1) Retail Electricity includes related services. (2) For the six months ended June 30, 2025, we recorded asset optimization revenues of $22.8 million and asset optimization cost of revenues of $25.7 million, which are presented on a net basis in asset optimization revenues. (3) Reconciling item includes net asset optimization expenses, net loss and gain on non-trading derivative instruments, and current period settlements on non-trading activities.
Six Months Ended June 30, 2024
| Retail Electricity(1) |  | Retail Natural Gas |  | Corporate and Other |  | Eliminations |  | Consolidated
Total revenues | $ | 148,477 |  |  | $ | 52,871 |  |  | $ | (596) |  |  | $ | — |  |  | $ | 200,752 |
Retail cost of revenues | 86,258 |  |  | 24,866 |  |  | 835 |  |  | — |  |  | 111,959 |
Less: |  |  |  |  |  |  |  |  |
Net asset optimization expense (2) | — |  |  | — |  |  | (2,128) |  |  | — |  |  | (2,128) |
Net, loss on non-trading derivatives | (1,229) |  |  | 93 |  |  | — |  |  | — |  |  | (1,136) |
Current period settlements on non-trading derivatives | 19,226 |  |  | 3,699 |  |  | — |  |  | — |  |  | 22,925 |
Retail Gross Margin | $ | 44,222 |  |  | $ | 24,213 |  |  | $ | 697 |  |  | $ | — |  |  | $ | 69,132 |
Add: Reconciling items (3) |  |  |  |  |  |  |  |  | 19,661 |
Gross Profit |  |  |  |  |  |  |  |  | $ | 88,793 |
Total Assets at December 31, 2024 | $ | 1,867,055 |  |  | $ | 126,911 |  |  | $ | 317,408 |  |  | $ | (1,966,435) |  |  | $ | 344,939 |
Goodwill at December 31, 2024 | $ | 117,813 |  |  | $ | 2,530 |  |  | $ | — |  |  | $ | — |  |  | $ | 120,343 |
(1) Reconciling item includes net asset optimization expenses, net loss and gain on non-trading derivative instruments, and current period settlements on non-trading activities. (2) For the six months ended June 30, 2024, we recorded asset optimization revenues of $14.7 million and asset optimization cost of revenues of $16.8 million, which are presented on a net basis in net asset optimization revenues. (3) Reconciling item includes net asset optimization expenses, net loss and gain on non-trading derivative instruments, and current period settlements on non-trading activities.

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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