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About NRG Energy, Inc.

NRG Energy is a leading retail energy marketer and independent power producer in the US market. NRG's retail units (including Reliant Energy and Green Mountain Energy) distribute electricity and natural gas to some 3.7 million customers in competitive markets in about 20 US states and two Canadian provinces. The company has a generating capacity of 23,000 MW from its portfolio of about 30 power plants. The vast majority of NRG's  business is in Texas, where the Company's generation supply is fully integrated with its retail load.

Operations

NRG's operating segments are Retail, Generation, and Corporate.

NRG's Retail segment, accounting for about two-thirds of revenue, is one of the largest US retail energy marketers with operations in deregulated utility markets in 20 states plus two Canadian provinces. It provides electricity and natural gas to residential, commercial, and industrial customers. The segment overlooks several brands that collectively are the largest providers of electricity in Texas. Its Business Solutions group provides demand response, commodity sales, efficiency consulting, and energy management services to commercial customers.

Generation, a capital-intensive segment accounting for one-third of sales, has about 23,000 MW of fossil-fueled, nuclear, and renewable (wind and solar) generation capacity at some 30 plants.

Geographic Reach

NRG's retail subsidiaries serve customers in some 20 US states and Washington, DC, and two Canadian provinces.

The company has generation assets in the US, and Australia. Its US plants are primarily located in Texas, New York, Connecticut, Arizona, Maryland, Illinois, California, and Delaware.

NRG has its corporate headquarters in Princeton, New Jersey, and an operational base in Houston.

Sales and Marketing

NRG's Retail segment serves residential, business, commercial, and industrial customers. The company's sales are conducted through direct representatives, online platforms, call centers, and brokers.

Financial Performance

NRG reported steadily increase in revenue over the past five years hitting a $10.8 billion in 2015.

Revenue increased 4% in 2019 to some $9.8 billion due to 8% and 11% growth in the Retail segment and Generation segment, respectively.

Net income rose to $4.4 billion in 2019, due to income tax benefits.

The company ended 2019 with $385 million in cash, down $228 million from 2018. Operating activities contributed $1.4 billion, while investing activities provided another $556 million (mostly acquisitions and capital expenditures), and financing activities used $2.2 billion mainly for treasury stock purchases and debt payments.

Strategy

NRG's strategy is to maximize stockholder value through the safe production and sale of reliable power to its customers in the markets it serves, while positioning the Company to provide innovative solutions to the end-use energy customer. This strategy is intended to enable the Company to optimize its integrated model to generate stable and predictable cash flow, significantly strengthen earnings and cost competitiveness, and lower risk and volatility.

To effectuate the Company's strategy, NRG is focused on serving the energy needs of end-use residential, commercial and industrial customers in competitive markets through multiple brands and channels with a variety of retail energy products and services differentiated by innovative features, premium service, sustainability, and loyalty/affinity programs; offering innovative and renewable energy solutions for customers; excellence in operating performance of its existing assets; optimal hedging of NRG's net retail and generation positions; and engaging in disciplined and transparent capital allocation.

In 2019, NRG announced the acceleration of its science-based GHG emissions reduction goals to align with prevailing climate science, limiting warming to a 1.5 degree Celsius scenario. Under its new GHG emissions reduction timeline, NRG is targeting to achieve a 50% reduction by 2025 and net-zero emissions by 2050, from a 2014 baseline. 

Mergers and Acquisitions

In 2019, NRG acquired the retail electricity and gas business of Stream Energy for $300 million. The deal adds more than 600,000 residential customers in Texas, Pennsylvania, and seven other states plus Washington, DC, and is aligned with NRG's strategy to focus on its retail energy operations.

Company Background

NRG Energy was founded in 1992 to acquire and operate power generation facilities. A portion of the company was spun off from parent Northern States Power (later Xcel Energy) in an IPO in 2000. NRG became a wholly owned subsidiary of Xcel again in 2002 and filed for chapter 11 bankruptcy in 2003. Upon emerging from bankruptcy later that year, NRG became a public entity once again and separated completely from Xcel.

NRG Energy, Inc.

804 Carnegie Ctr
Princeton, NJ 08540-6023
Phone: 1 (609) 524-4500

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: NRG
Stock Exchange: , NYSE
Chairman: Lawrence S. Coben
President and CEO: Mauricio Gutierrez
SVP Operations: Chris Moser
Employees (This Location): 240
Employees (All Locations): 4,577

Major Office Locations

Princeton, NJ

Other Locations

Antioch, CA
Carlsbad, CA
Daggett, CA
El Segundo, CA
Fellows, CA
Long Beach, CA
Nipton, CA
Oxnard, CA
Pittsburg, CA
Rancho Cucamonga, CA
San Francisco, CA
Middletown, CT
Milford, CT
Millsboro, DE
Saint Cloud, FL
Titusville, FL
Morris, IL
Neoga, IL
Pekin, IL
Rockdale, IL
Romeoville, IL
Waukegan, IL
New Roads, LA
Sterlington, LA
Auburn, MA
Boston, MA
Franklin, MA
Sandwich, MA
Aquasco, MD
Newburg, MD
Vienna, MD
Minneapolis, MN
Saint Paul, MN
French Camp, MS
Petersburg, NE
Houston, NJ
Milford, NJ
Princeton, NJ
Sea Girt, NJ
Wall Township, NJ
Albany, NY
Oswego, NY
Avon Lake, OH
Niles, OH
Newcastle, OK
Portland, OR
Abbottstown, PA
Birdsboro, PA
Brookville, PA
Gettysburg, PA
Harrisburg, PA
Mount Bethel, PA
Mount Holly Springs, PA
New Florence, PA
New Freedom, PA
Pittsburgh, PA
Shawville, PA
Shelocta, PA
Warren, PA
West Mifflin, PA
West Pittsburg, PA
Austin, TX
Baytown, TX
Bellaire, TX
Houston, TX
Jewett, TX
La Porte, TX
Plano, TX
Temple, TX
Thompsons, TX
Waco, TX