Profile: NRG Energy Inc (NRG)
17 Jan 2017
NRG Energy, Inc. (NRG), incorporated on May 29, 1992, is an integrated power company that produces, sells and delivers energy, and energy products and services in various power markets in the United States. The Company's segments include NRG Business, which includes power generation, the carbon capture business and energy services; NRG Home, which includes NRG Home Retail, which consists of residential retail services and products, and NRG Home Solar, which includes the installation and leasing of residential solar services; NRG Renew, which includes solar and wind assets, excluding those in the NRG Yield and NRG Home Solar segments; NRG Yield, and corporate activities. NRG Yield includes certain of the Company's contracted generation assets. The Company's corporate segment includes Boston Energy Trading and Marketing LLC (BETM), international business and electric vehicle services. The Company owns and operates approximately 50,000 megawatts of generation; engages in the trading of wholesale energy, capacity and related products; transacts in and trades fuel and transportation services, and directly sells energy, services, and products and services to retail customers under the names NRG, Reliant and other retail brand names owned by the Company.
The Company trades electric power, natural gas and related commodity and financial products, including forwards, futures, options and swaps, through its ownership of BETM, which is also an energy management service provider for primarily third-party generating assets. The Company also enters into power sales and hedging arrangements through a range of products and contracts, including power purchase agreements (PPAs), fuel supply contracts, capacity auctions, natural gas derivative instruments and other financial instruments. It operates a fleet of mid-merit and peaking natural gas plants across all its United States wholesale regions.
The Company's Gulf Coast wholesale power generation business is principally located in the Electric Reliability Council of Texas (ERCOT) and Midcontinent Independent System Operator, Inc. (MISO) markets. NRG's generation assets located in the East region of the United States are within the control areas of the New York Independent System Operator (NYISO), ISO New England Inc. (ISO-NE) and PJM Interconnection, LLC (PJM). The Company operates a fleet of natural gas fired facilities located entirely within the California Independent System Operator (CAISO) footprint. The Company has PPAs for over 500 megawatts of solar generation assets located in California and Arizona, and over 1,500 megawatts of wind generation assets.
The Company's wholesale power generation business includes the Company's wholesale operations including plant operations, commercial operations, engineering, procurement and construction (EPC), energy services and other critical related functions. In addition to the traditional functions, the wholesale power generation business also includes the Company's business-to-business (B2B) solutions, which include demand response, commodity sales, energy efficiency and energy management services, and its conventional distributed generation business, consisting of reliability, combined heat and power, thermal and district heating, and cooling and large-scale distributed generation. The Company has a diversified power generation portfolios in the United States, with approximately 44,640 megawatts of fossil fuel and nuclear generation capacity at over 90 plants.
The Company has generation assets located in or near Houston, New York City, Chicago, Washington D.C., New Jersey, southwestern Connecticut, Pittsburgh, Cleveland, and the Los Angeles, San Diego and San Francisco metropolitan areas. The Company's B2B solutions include system power, distributed generation, solar and wind products, carbon management and specialty services, backup generation, storage and distributed solar, demand response and energy efficiency and electric vehicle charging stations. The Company also provides energy services, including operations, maintenance, technical, development and asset management services to its own facilities and to external customers.
The Company's retail business provides home energy and related services, as well as personal power to consumers through various brands and channels across the United States. The retail business delivers over 40 terawatt hours (TWhs) and has approximately 2.77 million Recurring customers, and approximately 624,000 Discrete customers of products and services. The Company's retail business has operations in various retail energy markets of Connecticut, Delaware, Illinois, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Ohio and Texas, as well as the District of Columbia. The Company's Home Solar business provides installation and contract management services for residential solar customers, allowing customers to switch to solar energy.
The Company's renewables business consists primarily of its wind and solar generation facilities that are not owned by NRG Yield, Inc., as well as the Company's business-to-business distributed solar business. In addition, the asset management and operation, and maintenance groups within the renewables business manage a portfolio of wind and solar assets across approximately 30 states, and provide a range of solar energy solutions for utilities, schools, municipalities and businesses. The business-to-business distributed solar business focuses on partnerships with local, regional, national and multi-national companies, and institutions to provide on-site and off-site renewable generation. Approximately 1,880 megawatts of utility, commercial, industrial and governmental/institutional (C&I), and community renewable projects are in operation inclusive of those held both solely by the Company and in partnership with NRG Yield, Inc. In addition to assets in operation, the Company holds a pipeline of in-construction and development-stage projects exceeding over 850 megawatts across the C&I, community, and utility renewables markets.
NRG Yield, Inc. is a company formed to serve as the primary vehicle, through which the Company, supported by NRG Renew and NRG Business, owns, operates and acquires diversified contracted renewable and conventional generation, and thermal infrastructure assets. NRG Yield, Inc.'s contracted generation portfolio collectively represents over 4,440 megawatts. NRG Yield, Inc. also owns thermal infrastructure assets with an aggregate steam and chilled water capacity of approximately 1,320 net megawatts thermal equivalent (MWt) and electric generation capacity of over 120 megawatts. These thermal infrastructure assets provide steam, hot water and/or chilled water, and in some instances electricity, to commercial businesses, universities, hospitals and governmental units in various locations, principally through long-term contracts or pursuant to rates regulated by state utility commissions. The Company's NRG Yield business includes various projects, such as Alpine, Alta Wind, Avenal, Avra Valley, Blythe, Borrego, California Valley Solar Ranch, El Segundo Energy Center, GenConn Devon, High Desert, Kansas South, Marsh Landing, Roadrunner, South Trent Wind Farm and Wildorado.
NRG Energy Inc
804 Carnegie Ctr
PRINCETON NJ 08540-6023
Company Web Links
- BRIEF-NRG Energy statement on schedule 13d filing by Elliott Associates and Bluescape Energy Partners
- Elliott teams with ex-TXU CEO for NRG Energy shake-up
- UPDATE 2-Elliott teams with ex-TXU CEO for NRG Energy shake-up
- Elliott, private equity firm buy stakes in NRG Energy
- BRIEF-Bluescape Energy Partners reports 2.5 pct stake in NRG Energy