Genie Retail Energy (IDT Energy Parent) To Acquire Two Retail Energy Suppliers

Genie Retail Energy has entered into an agreement to purchase Retail Energy Holdings, LLC, the parent of retail suppliers Town Square Energy, LLC and Town Square Energy East, LLC (f/k/a Discount Energy Group).

Retail Energy Holdings is currently wholly-owned by Krieger Enterprises, LLC. Timothy Krieger is the managing member and sole equity holder in Krieger Enterprises, LLC

After the sale, the Town Square Energy suppliers will become indirect subsidiaries of Genie Retail Energy, Inc.

Genie Retail Energy is the parent of IDT Energy, Inc. and Residents Energy, LLC

Town Square Energy serves customers in several Northeast markets including Connecticut, Massachusetts, Maryland, New Hampshire, New Jersey, Ohio, and Pennsylvania

IDT is a retail energy provider supplying electricity and natural gas to residential and small business customers in Washington D.C., Illinois, Maryland, New Jersey, New York, and Pennsylvania.

Residents Energy is a New York limited liability company that is authorized as a retail energy provider in New York, New Jersey, Pennsylvania, Ohio and Illinois