Via Renewables (VIA), a door-to-door seller of electricity and natural gas, revealed a myriad accounting errors related to the calculation of net income, deferred tax assets, accrued liabilities and other items. The company acknowledged a control deficiency in its latest annual report and corrected the errors made in 2020 and 2021 including:

—In 2020, Via overstated net income attributable to stockholders of Class A common stock by $1.9 million, or 9.59%
—In 2021, Via understated its net loss attributable to stockholders of Class A common stock by $1.4 million, or 53.84%

The company concluded the errors were immaterial.

Separately, in October 2022 Via paid $1.5 million and agreed to stop doing business in Connecticut to settle allegations it violated electric supplier marketing laws. The company paid another $1.5 million to settle similar allegations in New York and $1.1 million to settle regulatory matters in Pennsylvania.

In February 2023, the state of Maine announced it’s investigating whether Via is complying with the state’s rules.