Profile: NRG Energy Inc (NRG.N)
21 Aug 2014
NRG Energy, Inc. (NRG), incorporated on May 29, 1992, is an integrated wholesale power generation and retail electricity company in the United States. NRG is a wholesale power generator engaged in the ownership and operation of power generation facilities; the trading of energy, capacity and related products; and the transacting in and trading of fuel and transportation services. NRG is a retail energy company engaged in the supply of energy, services, and sustainable products to retail customers in competitive markets through multiple channels and brands like Reliant Energy, Green Mountain Energy, and Energy Plus (collectively, the Retail Business). Finally, NRG is focused on the deployment and commercialization of potentially disruptive technologies, like electric vehicles, Distributed Solar and smart meter technology, which have the potential to change the nature of the power supply industry. In March 2014, the Company acquired Roof Diagnostics Solar (RDS). In April 2014, the Company announced that it has completed the acquisitions of substantially all assets of Edison Mission Energy (EME) and competitive retail electricity business of Dominion Resources, Inc. In July 2014, NRG Energy, Inc. acquired four megawatt Spanish Town Estate Solar project on the Island of St. Croix in the United States Virgin Islands (USVI) from Toshiba International Corporation (Toshiba).
Wholesale Power Generation
NRG's generation facilities are primarily located in the United States and comprise generation facilities across the merit order. The sale of capacity and power from baseload and intermediate generation facilities accounts for a majority of the Company's generation revenues. In addition, NRG's generation portfolio provides the Company with opportunities to capture additional revenues by selling power during periods of peak demand, offering capacity or similar products, and providing ancillary services to support system reliability. As of December 31, 2012, NRG had a diversified power generation portfolios in the United States, with approximately 45,105 MW of fossil fuel and nuclear generation capacity in 345 active generating units at 88 plants. In addition, the Company has one combined cycle and two peaking natural gas plants under construction totaling 1,345 MW. The Company's power generation assets are diversified by fuel-type, dispatch level and region, which helps mitigate the risks associated with fuel price volatility and market demand cycles.
NRG's Retail Business arranges for the transmission and delivery of energy-related products to customers, bills customers, collects payments for products sold, and maintains call centers to provide customer service. The Retail Business sells products that range from system power to bundled products, which combine system power with protection products, energy efficiency and renewable energy solutions, or other value added products and services, including customer rewards offered through exclusive loyalty and affinity program partnerships. Based on metered locations, as of December 31, 2012, NRG's Retail Business served approximately 2.2 million residential, small businesses, commercial and industrial customers.
NRG's investment in, and development of, new technologies is focused on identifying commercial opportunities and creating a comparative advantage for the Company. The Company's development and investment initiatives are primarily focused in the areas of Distributed Solar, solar thermal and solar photovoltaic, and also include other low-or no-GHG emitting energy generating sources, such as the fueling infrastructure for electric vehicle, or EV, ecosystems. The Company has 1,270 MW of renewable generation capacity, of which 835 MW is operational and 435 MW is under construction as of December 31, 2012, comprised of ownership interests in four wind farms, nine Utility Scale Solar facilities, and numerous Distributed Solar facilities.
NRG Energy Inc
211 Carnegie Center
PRINCETON NJ 08540
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