Genie Energy stock has increased by more than 70% over the last year. In a recent article for Seeking Alpha, a trader discusses the company. One of Genie’s subsidiaries is IDT Energy.
According to the article, IDT is “a stable cash flow business that generates about $25 million in annual EBITDA and all the revenues ($230 million in revenues in 2012) at GNE currently… IDT Energy made $25m in EBITDA in 2012, up 27% year over year. I would note that the company is investing significantly to grow this business but all the “investing” costs are in sales and marketing and are expensed fully in the quarter incurred, thereby, reducing the reported earnings of this entity while they grow it, yet they still made $25m in EBITDA in 2012.”
While this video is a bit tongue-in-cheek, it does raise some great points about saving energy. During college, most students don’t necessarily think about keeping their budget tight when it comes to energy use. However, with so many computers and dorm rooms occupied by students, these tips can actually help college students to save money. Whether the dorm uses IDT Energy or another source, there are always ways to save money during the college experience.
In Massachusetts, a water-saving campaign has recently begun led by the US Environmental Protection Agency (EPA), the US Department of Housing and Urban Development, the Commonwealth of Massachusetts Executive Office of Energy and Environmental Affairs, and the Delta Faucet Company. When such devices are installed, substantial savings on IDT Energy (or other utility service provider) bills can be made.
To kick off the campaign, an event was held in Brighton entitled “Fix a Leak Week.” The idea is to make Americans aware of the importance of fixing their leaks which will not only save water, but will also save up to 10 percent on utility bills.
In order to achieve this, a whole slew of volunteer plumbers from Plumbers Local 12 installed more than 375 water saving devices at low-income housing properties last week. It seems that households in America shockingly waste over a trillion gallons of water every year. This can be avoided as a lot of the wastage is due to leaks spewing from various fixtures as well as pipes, toilets and showerheads.
During the 4th annual Fix a Leak Week, March 12-18, EPA’s WaterSense program educated Americans about the importance of fixing leaks around the home, which will save water and nearly 10 percent on utility bills.
Becoming more energy-efficient is a great way of helping the environment and reducing bills. One way of doing this is ensuring home appliances are replaced at the right time – not too early when they don’t require replacement – and not too late, when they are well past their efficiency date. The average yearly energy bill – whether with IDT Energy or any other utility service provider – is approximately $2,200. About 13 percent of that figure goes on large appliances (not including electronics).
It is also advisable to trade in old appliances that are no longer using energy efficiently, with new ones that have the Energy Star certification. These help to boost both energy and financial savings and are kind to the environment. By swapping a washing machine that predates 1994, with an Energy Star-rated model, a family can save $110 in their yearly energy costs. So it makes sense to keep an eye on appliances and their efficiency.
New Yorkers and other Americans have been working with energy providers like IDT Energy to reduce energy use and increase savings. Many people are told to purchase ENERGY STAR appliances, or to look for Energy Star seals.
What does this mean?
According to EnergyStar.gov, Energy Star is a “joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping us all save money and protect the environment through energy efficient products and practices.”
The site adds that “results are already adding up. Americans, with the help of ENERGY STAR, saved enough energy in 2010 alone to avoid greenhouse gas emissions equivalent to those from 33 million cars- all while saving nearly $18 billion on their utility bills.”
Energy conservation and money-saving tips are in high demand as new technologies and solutions present themselves across the country. New York-based IDT Energy offers several hints for lowering bills and preserving the environment:
Lower your thermostat at night and whenever the house is unoccupied.
Close off unoccupied rooms so you aren’t heating or cooling them.
If you consistently set your thermostat back at night, you may reduce your heating bill by 10-20 percent. For every degree you lower your heat in the 60-degree to 70-degree range, you could save up to 5 percent on heating costs.
Energy efficiency is a rising topic amongst families and businesses, with energy saving tips and facts becoming more and more sought after. Everyone knows there are many advantages to reducing energy use at home, but the concept of energy efficiency is often misunderstood.
According to Wikipedia, efficient energy use is:
“The goal of efforts to reduce the amount of energy required to provide products and services.”
It lists several examples:
“Insulating a home allows a building to use less heating and cooling energy to achieve and maintain a comfortable temperature. Installing fluorescent lights or natural skylights reduces the amount of energy required to attain the same level of illumination compared with using traditional incandescent light bulbs. Compact fluorescent lights use one-third the energy of incandescent lights and may last 6 to 10 times longer. Improvements in energy efficiency are most often achieved by adopting a more efficient technology or production process.”
It goes on to explain that “there are various motivations to improve energy efficiency. Reducing energy use reduces energy costs and may result in a financial cost saving to consumers if the energy savings offset any additional costs of implementing an energy efficient technology. Reducing energy use is also seen as a solution to the problem of reducing emissions. According to the International Energy Agency, improved energy efficiency in buildings, industrial processes and transportation could reduce the world’s energy needs in 2050 by one third, and help control global emissions of greenhouse gases.”