Trade Accounts Receivable, Net

9 Months Ended

Sep. 30, 2013

Receivables [Abstract]

Trade Accounts Receivable, Net

5. Trade Accounts Receivable, Net

The Company does not invoice bidders for the commissions earned on retail electricity, certain natural gas and demand response transactions and, therefore, reports a significant portion of its receivables as “unbilled.” Unbilled accounts receivable represent management’s best estimate of energy provided by the energy suppliers to the energy consumers for a specific completed time period at contracted commission rates.

The Company generally invoices bidders for commissions earned on retail natural gas and wholesale transactions as well as energy efficiency customers, which are reflected as billed accounts receivable. For natural gas and wholesale transactions, the total commission earned on these transactions is recognized upon completion of the procurement event and are generally due within 30 days of invoice date. For efficiency projects, revenue is recognized and invoiced upon project installation and acceptance, as required, and are generally due within 30 days of invoice date. In addition, the Company invoices the bidder, lister or combination of both for certain auctions performed for environmental commodity product transactions. These transactions are earned and invoiced either upon lister acceptance of the auction results or, in some cases, upon delivery of the credits or cash settlement of the transaction. Trade accounts receivable, net consists of the following:

	September 30, 2013			December 31, 2012
Unbilled accounts receivable	$	5,999,795		$	5,343,559
Billed accounts receivable		1,383,395			2,074,223
		7,383,190			7,417,782
Allowance for doubtful accounts		(275,179	)		(175,179	)
Trade accounts receivable, net	$	7,108,011		$	7,242,603