NRG Energy

NRG Energy, Inc.
Public
Traded asNRG
S&P 500 Component
IndustryElectric utilities
Founded1992
FounderSeth Allen
HeadquartersWest Windsor, New Jersey (financial), Houston, Texas (operations)[1]
Area served
USA – 11 states
Key people
Mauricio Gutierrez
(President and CEO)
ProductsElectricity generation
Electric power transmission
distribution
Revenue
  • Decrease US$ 14.674 billion (2015) [2]
  • Increase US$ 15.868 billion (2014) [3]
  • Increase US$ 11.295 billion (2013) [3]
  • Increase US$ 8.422 billion (2012) [3]
Number of employees
10,468 (2015) [2]
Websitewww.nrg.com

NRG Energy, Inc. is a large American energy company, dual-headquartered in West Windsor Township, New Jersey,[4][5] and Houston, Texas.[1][6][7] It was formerly the wholesale arm of Xcel Energy, and was spun off in bankruptcy in 2004.[8]

Acquisitions

When the state of Texas deregulated the electricity market, Houston Industries, the parent company of Houston Lighting & Power (HL&P) was broken up.[9] In 2003 Houston Industries was split into three companies. The power plants went to Texas Genco, CenterPoint Energy took over the distribution system, and the retail and wholesale electricity business became Reliant Energy.[10]

In 2006, NRG Energy bought Texas Genco from a group of private equity firms for roughly $5.9 billion.[11] Afterwards, in May 2009, NRG Energy acquired the retail operations of Reliant Energy. With those two moves, NRG's holdings represented most of the former HL&P and today serve 1.6 million customers in Texas. The retail operations continue to operate under the Reliant Energy name while old Reliant's wholesale operations became RRI Energy.

Following the acquisition of Reliant, NRG extended its retail footprint with the acquisition of Green Mountain Energy in November 2010.[12] In doing so, NRG also became the largest retailer of green power in the nation, providing all of its Green Mountain and many of its Reliant customers with energy derived from 100% renewable resources.[13]

NRG Energy completed its acquisition of GenOn Energy in December 2012[1] for $1.7 billion in stock and cash.[14] The GenOn name was retired in the merger, but the combined company retained GenOn's Houston headquarters to coordinate operations.[1] That company, in turn, had been formed out of the merger of RRI Energy and Mirant Corporation in 2010.

In August 2013, NRG acquired Energy Curtailment Specialists, a Buffalo, New York based Demand response company.[15] The terms of the deal were not disclosed [16]

a Goal Zero battery, lamp and solar panel

In September 2014, NRG acquired Goal Zero, a manufacturer of personal solar power products.[17]

In March 2018 NRG acquired Xoom Energy, a mainly residential focused, retail energy supplier with 300,000 RCE customers. The sale price was $210 million.

Naming rights

NRG Energy holds the naming rights to the NRG Park campus (formerly Reliant Park) in Houston, Texas, home to the NRG Astrodome, NRG Stadium, NRG Arena and NRG Center. NRG Energy also holds the naming rights for a NRG Station (formerly AT&T Station), a rapid transit station in Philadelphia, Pennsylvania.[18]

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