IDT Energy, Inc. today announced that CEO Geoff Rochwarger has been named a finalist in the Ernst & Young Entrepreneur Of The Year® 2012 program in the New Jersey region.

The award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Awards will be presented at a special gala on June 27, 2012 at the Hyatt New Brunswick.

Now in its 26th year, the Entrepreneur of the Year Program has expanded to recognize business leaders in more than 140 cities in more than 50 countries throughout the world.

"This award is a wonderful acknowledgement of the IDT Energy team's entrepreneurial spirit," said Rochwarger, who also serves as Vice Chairman of IDT Energy's parent company, Genie Energy (NYSE: GNE). "Competing against the utility monopolies was once unheard of. Now, thanks to deregulation and free retail energy markets, the IDT Energy team brings choice and savings in electric and natural gas supply to our residential and small business customers every day."

Howard Jonas, Chairman of Genie Energy, said, "Geoff Rochwarger identified this opportunity, persuaded IDT that it was worth pursuing, and then built the team that grew this business from the ground up. In less than a decade, IDT Energy has become one of the largest independent retail energy suppliers for homes and small businesses in the country. I am very pleased that Geoff's creativity and entrepreneurial approach are being recognized through the prestigious Ernst and Young Entrepreneur of the Year Program."

Regional award winners are eligible for consideration for the Ernst & Young National Entrepreneur of the Year Program. Award winners in several national categories, as well as the Ernst & Young National Entrepreneur of the Year Overall Award winner, will be announced at the annual awards gala in Palm Springs, California, on November 17, 2012. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies.

Sponsors

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are nationally sponsored in the United States by SAP America and the Ewing Marion Kauffman Foundation. In New Jersey, sponsors include PNC, Merrill Corporation, Morgan Lewis & Bockius, DLA Piper, Scherzer International, Empire Valuation Consultants, WithumSmith +Brown, Murray Devine, Gibbons, P.C., New Jersey Technology Council, SolomonEdwards Group, New Jersey Business Journal

About IDT Energy

IDT Energy is one of the largest retail energy providers (REPs) supplying electricity and natural gas to residential and small business customers in the Northeastern United States. IDT Energy is a subsidiary of Genie Energy Ltd (NYSE: GNE). For more information, visit www.idtenergy.com.

About Genie Energy Ltd.

Genie Energy Ltd. (NYSE: GNE) is comprised of IDT Energy and Genie Oil and Gas (GOGAS). IDT Energy is a retail energy provider (REP) supplying electricity and natural gas to residential and small business customers in the Northeastern United States. GOGAS is pioneering technologies to produce clean and affordable transportation fuels from the world's abundant oil shale and other unconventional fuel resources. GOGAS resource development projects include oil shale initiatives in Colorado and Israel. For more information, visit www.genie.com.

About Ernst & Young Entrepreneur Of The Year®

Ernst & Young Entrepreneur Of The Year is the world's most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit www.ey.com.

IDT Energy, Inc.
Brad Martin, 973-438-3184
bradley.martin@genie.com