IDT Energy Savings

An initial registration statement has been filed by Genie Energy, which is a completely owned subsidiary of IDT Energy. The  filing of the statement, which includes a document of description,  is in preparation for the awaited spin-off of Genie and the announcement to the stockholders of IDT Corporation.

It is possible to view the filed statements through the website of the Securities and Exchange Commission.

Howard Jonas, CEO and Chairman of IDT Energy explained the decision of his company to create Genie:

“The spin-off of Genie is one of the key strategic moves we announced last year to enable stockholders to realize the inherent value in IDT’s businesses.”

President Obama and the White House have made great strides lately with clean energy investments and more.  They have over $80 billion in clean energy investments as part of the American Recovery and Reinvestment Act.  This should jump-start the economy and help to build the clean energy jobs for our future.

This initiative includes $11 billion for a highly advanced grid that will move renewable energy from rural places where it is produced into the cities.  It also includes $40 million for smart meters for American homes.  In addition, it includes $5 billion for low-income home weatherization projects.

These are a few of the many initiatives the White House is putting in place for helping the environment and for creating better energy investments in our future.

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