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v3.25.2

Revenues (Tables) | 6 Months Ended
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Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregated Revenue | The following table discloses revenue by primary geographical market, customer type, and customer credit risk profile (in thousands). The table also includes a reconciliation of the disaggregated revenue to revenue by reportable segment (in thousands).
| Reportable Segments
| Three Months Ended June 30, 2025 |  | Three Months Ended June 30, 2024
| Retail Electricity (c) |  | Retail Natural Gas |  |  |  | Total Reportable Segments |  | Retail Electricity (c) |  | Retail Natural Gas |  |  |  | Total Reportable Segments
Primary markets (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
New England | $ | 15,919 |  |  | $ | 1,682 |  |  |  |  | $ | 17,601 |  |  | $ | 21,271 |  |  | $ | 1,572 |  |  |  |  | $ | 22,843 |
Mid-Atlantic | 28,509 |  |  | 6,453 |  |  |  |  | 34,962 |  |  | 27,514 |  |  | 5,912 |  |  |  |  | 33,426 |
Midwest | 7,032 |  |  | 2,834 |  |  |  |  | 9,866 |  |  | 6,518 |  |  | 2,107 |  |  |  |  | 8,625 |
Southwest | 15,350 |  |  | 12,856 |  |  |  |  | 28,206 |  |  | 15,845 |  |  | 6,221 |  |  |  |  | 22,066 |
| $ | 66,810 |  |  | $ | 23,825 |  |  |  |  | $ | 90,635 |  |  | $ | 71,148 |  |  | $ | 15,812 |  |  |  |  | $ | 86,960 |
Customer type |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 8,712 |  |  | $ | 16,919 |  |  |  |  | $ | 25,631 |  |  | $ | 9,989 |  |  | $ | 11,304 |  |  |  |  | $ | 21,293 |
Residential | 52,996 |  |  | 11,231 |  |  |  |  | 64,227 |  |  | 56,956 |  |  | 8,703 |  |  |  |  | 65,659 |
Unbilled revenue (b) | 5,102 |  |  | (4,325) |  |  |  |  | 777 |  |  | 4,203 |  |  | (4,195) |  |  |  |  | 8 |
| $ | 66,810 |  |  | $ | 23,825 |  |  |  |  | $ | 90,635 |  |  | $ | 71,148 |  |  | $ | 15,812 |  |  |  |  | $ | 86,960 |
Customer credit risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
POR | $ | 42,956 |  |  | $ | 10,371 |  |  |  |  | $ | 53,327 |  |  | $ | 44,080 |  |  | $ | 7,177 |  |  |  |  | $ | 51,257 |
Non-POR | 23,854 |  |  | 13,454 |  |  |  |  | 37,308 |  |  | 27,068 |  |  | 8,635 |  |  |  |  | 35,703 |
| $ | 66,810 |  |  | $ | 23,825 |  |  |  |  | $ | 90,635 |  |  | $ | 71,148 |  |  | $ | 15,812 |  |  |  |  | $ | 86,960 |
| Reportable Segments
| Six Months Ended June 30, 2025 |  | Six Months Ended June 30, 2024
| Retail Electricity (c) |  | Retail Natural Gas |  | Total Reportable Segments |  | Retail Electricity (c) |  | Retail Natural Gas |  | Total Reportable Segments
Primary markets (a) |  |  |  |  |  |  |  |  |  |  |
New England | $ | 37,191 |  |  | $ | 6,877 |  |  | $ | 44,068 |  |  | $ | 48,610 |  |  | $ | 6,197 |  |  | $ | 54,807 |
Mid-Atlantic | 67,369 |  |  | 26,677 |  |  | 94,046 |  |  | 58,213 |  |  | 21,167 |  |  | 79,380 |
Midwest | 15,151 |  |  | 15,053 |  |  | 30,204 |  |  | 13,827 |  |  | 9,478 |  |  | 23,305 |
Southwest | 27,819 |  |  | 39,001 |  |  | 66,820 |  |  | 27,827 |  |  | 16,029 |  |  | 43,856 |
| $ | 147,530 |  |  | $ | 87,608 |  |  | $ | 235,138 |  |  | $ | 148,477 |  |  | $ | 52,871 |  |  | $ | 201,348 |
Customer type |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 19,513 |  |  | $ | 51,965 |  |  | $ | 71,478 |  |  | $ | 21,354 |  |  | $ | 32,018 |  |  | $ | 53,372 |
Residential | 129,213 |  |  | 39,734 |  |  | 168,947 |  |  | 127,904 |  |  | 27,344 |  |  | 155,248 |
Unbilled revenue (b) | (1,196) |  |  | (4,091) |  |  | (5,287) |  |  | (781) |  |  | (6,491) |  |  | (7,272) |
| $ | 147,530 |  |  | $ | 87,608 |  |  | $ | 235,138 |  |  | $ | 148,477 |  |  | $ | 52,871 |  |  | $ | 201,348 |
Customer credit risk |  |  |  |  |  |  |  |  |  |  |
POR | $ | 98,890 |  |  | $ | 39,337 |  |  | $ | 138,227 |  |  | $ | 94,369 |  |  | $ | 26,646 |  |  | $ | 121,015 |
Non-POR | 48,640 |  |  | 48,271 |  |  | 96,911 |  |  | 54,108 |  |  | 26,225 |  |  | 80,333 |
| $ | 147,530 |  |  | $ | 87,608 |  |  | $ | 235,138 |  |  | $ | 148,477 |  |  | $ | 52,871 |  |  | $ | 201,348 |
| Reportable Segments
(a) The primary markets include the following states: •New England - Connecticut, Maine, Massachusetts, New Hampshire and Rhode Island; •Mid-Atlantic - Delaware, Maryland (including the District of Columbia), New Jersey, New York, Pennsylvania and Virginia; •Midwest - Illinois, Indiana, Michigan and Ohio; and •Southwest - Arizona, California, Colorado, Florida, Nevada and Texas. (b) Unbilled revenue is recorded in total until it is actualized, at which time it is categorized between commercial and residential customers. (c) Retail Electricity includes Services. Reconciliation to Condensed Consolidated Financial Information A reconciliation of the reportable segment operating revenues to consolidated revenues is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Total Reportable Segments Revenue | $ | 90,635 |  |  | $ | 86,960 |  |  | $ | 235,138 |  |  | $ | 201,348 |
Net asset optimization expense | (636) |  |  | (531) |  |  | (2,885) |  |  | (2,128) |
Other Revenue | 30 |  |  | 267 |  |  | 33 |  |  | 1,532 |
Total Revenues | $ | 90,029 |  |  | $ | 86,696 |  |  | $ | 232,286 |  |  | $ | 200,752 |
Schedule of Accounts Receivable, Allowance for Credit Loss | A rollforward of our allowance for credit losses for the six months ended June 30, 2025 are presented in the table below (in thousands):
Balance at December 31, 2024 |  |  |  |  | $ | (2,950) |
Current period credit loss provision |  |  |  |  | (833) |
Write-offs |  |  |  |  | 1,236 |
Recovery of previous write-offs |  |  |  |  | (59) |
Balance at June 30, 2025 |  |  |  |  | $ | (2,606) |
Schedule of Beginning and Ending Balances of Account Receivables | The following table reflects the Company's beginning and ending balances of our account receivables.
|  | Three Months Ended June 30, | Six months ended June 30,
|  | 2025 |  | 2024 | 2025 |  | 2024
Beginning balance accounts receivables |  | $ | 70,442 |  |  | $ | 55,852 |  | $ | 65,442 |  |  | $ | 63,246 |
Ending balance of accounts receivables |  | $ | 47,972 |  |  | $ | 49,085 |  | $ | 47,972 |  |  | $ | 49,085 |

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