New IDT Energy Subsidiary Seeks License in New State, To Further Market Segmentation

Residents Energy, LLC applied for a Pennsylvania natural gas supplier license to serve residential, commercial, and industrial customers in all service areas.

Residents Energy is wholly-owned by IDT Energy, Inc., which is owned by Genie Energy.

As only reported by EnergyChoiceMatters.com earlier this month, Residents Energy recently launched service in New York

In its natural gas supplier application filed with the Pennsylvania PUC in June but only now docketed, Residents Energy stated the following, indicating that the new brand was chosen for market segmentation reasons (namely, to focus on fixed price offerings):

"Applicant will provide natural gas supply services to residential and commercial customers in all of the NGDC territories in Pennsylvania. Whereas IDT Energy primarily offers a pure variable rate product to customers on a month-to-month basis, Residents initially intends to focus on offering residential and small commercial customers fixed rate contracts."