The Company had purchase commitments of $144.4 million at December 31, 2025, of which $140.7 million was for future purchases of electricity. The purchase commitments outstanding at December 31, 2025 are expected to be paid as follows (in thousands):

For the year ended December 31, 2025, the Company purchased $88.8 million and $10.3 million of electricity and renewable energy credits, respectively, under these purchase commitments. For the year ended December 31, 2024, the Company purchased $39.4 million and $16.8 million of electricity and renewable energy credits, respectively, under these purchase commitments. For the year ended December 31, 2023 the Company purchased $39.0 million and $19.5 million of electricity and renewable energy credits, respectively, under these purchase commitments.

GRE's REPs must obtain a certain percentage or amount of their electricity from renewable energy sources in order to meet the requirements of renewable portfolio standards in the states in which they operate. This requirement may be met by obtaining renewable energy credits that provide evidence that electricity has been generated by a qualifying renewable facility or resource. At December 31, 2025, GRE had commitments to purchase renewable energy credits of $3.7 million.

GRE has performance bonds issued through a third party for certain utility companies and for the benefit of various states in order to comply with the states’ financial requirements for REPs. At December 31, 2025, GRE had aggregate performance bonds of $28.4 million outstanding and $1.0 million of unused letters of credit.

Certain of GREs REPs are party to an Amended and Restated Preferred Supplier Agreement with BP, which is to be in effect through November 30, 2026. Under the agreement, the REPs purchase electricity and natural gas at market rate plus a fee. The obligations to BP are secured by a first security interest in deposits or receivables from utilities in connection with their purchase of the REP’s customer’s receivables, and in any cash deposits or letters of credit posted in connection with any collateral accounts with BP. The ability to purchase electricity and natural gas under this agreement is subject to satisfaction of certain conditions including the maintenance of certain covenants. At December 31, 2025, the Company was in compliance with such covenants. At December 31, 2025, restricted cash — short-term of $0.8 million and trade accounts receivable of $76.1 million were pledged to BP as collateral for the payment of trade accounts payable to BP of $33.5 million at December 31, 2025.