Sign in

    NRG Energy Inc (NRG)

    You might also like

    NRG Energy, Inc. is a leading energy and home services company operating across the United States and Canada, focusing on delivering innovative and sustainable solutions under brand names such as NRG, Reliant, Direct Energy, Green Mountain Energy, and Vivint . The company's core business activities include the sale of electricity and natural gas to residential, commercial, industrial, and wholesale customers, supported by its wholesale electric generation . NRG also offers a variety of smart home products and services through its Vivint Smart Home segment .

    1. Retail Electricity - Sells electricity to residential, commercial, industrial, and wholesale customers across various regions.
    2. Natural Gas - Provides natural gas services to a diverse customer base, including residential and commercial sectors.
    3. Vivint Smart Home - Offers smart home products and services, enhancing home automation and security.
    4. Energy Management - Delivers energy efficiency and management solutions, focusing on distributed energy resources and renewable energy.
    5. HVAC Services - Provides heating, ventilation, and air conditioning services to improve home comfort and efficiency.
    6. Home Protection Products - Offers products designed to protect and maintain home systems and appliances.
    7. Carbon Offsets - Provides solutions for customers to offset their carbon footprint through sustainable practices.
    8. Portable Power Solutions - Offers portable power products for various consumer needs.
    NamePositionExternal RolesShort Bio

    Lawrence S. Coben

    ExecutiveBoard

    President and CEO, Chair of the Board

    Board Member at Freshpet, Inc.; Executive Director of ESCALA Initiative; Consulting Scholar at University of Pennsylvania Museum of Archaeology and Anthropology

    Longtime NRG leader, joined the board in 2003, became Chair in 2017, and CEO in 2024. Focused on energy and smart home technology, with a background in economics, law, and anthropology.

    View Report →

    Rasesh Patel

    Executive

    President, NRG Consumer

    None

    Former COO of Vivint, joined NRG in 2023 after its acquisition of Vivint. Leads Smart Home and Home Energy segments. Previously held senior roles at AT&T and DIRECTV.

    Robert J. Gaudette

    Executive

    EVP, NRG Business

    Advisory Board Member at Shift

    Joined NRG in 2012 after GenOn acquisition. Leads NRG Business segment. Previously held leadership roles in product development and origination.

    Woo-Sung Chung

    Executive

    EVP and CFO

    None

    Joined NRG in 2008, became CFO in June 2023. Previously led strategy, M&A, and NRG Services. Former investment banker at Citigroup.

    Alex Pourbaix

    Board

    Director

    Executive Chair of Cenovus Energy; Board Member at Canadian Utilities Limited

    Joined NRG's board in 2023. Former CEO of Cenovus Energy, led strategic acquisitions and operational improvements.

    Alexandra Pruner

    Board

    Director

    Senior Advisor at Perella Weinberg Partners and Tudor, Pickering, Holt & Co.; Board Member at Plains All American Pipeline, L.P.

    Joined NRG's board in 2019. Brings financial expertise and industry knowledge, with a focus on energy markets.

    Anne C. Schaumburg

    Board

    Lead Independent Director

    Independent Chair of Brookfield Infrastructure Partners; Chair of Compensation Committee at Brookfield Reinsurance Ltd.

    Joined NRG's board in 2005. Brings extensive financial and M&A expertise, with leadership roles in energy and financial services.

    Antonio Carrillo

    Board

    Director

    President, CEO, and Director of Arcosa, Inc.

    Joined NRG's board in 2019. Brings industrial and infrastructure expertise.

    E. Spencer Abraham

    Board

    Director

    Chairman and CEO of Abraham Group LLC; Senior Advisor at Blank Rome Government Relations LLC; Board Member at PBF Energy Inc., Two Harbors Investment Corp., and Uranium Energy Corp.

    Former U.S. Secretary of Energy and U.S. Senator. Brings extensive energy policy expertise to NRG's board.

    Elisabeth B. Donohue

    Board

    Director

    Board Member at Gap Inc.

    Joined NRG's board in 2020. Former CEO of Publicis Spine and global marketing leader.

    Heather Cox

    Board

    Director

    President, Insights & Empowerment at Zelis Healthcare Inc.

    Joined NRG's board in 2018. Brings expertise in digital transformation, technology, and customer service.

    Kevin T. Howell

    Board

    Director

    Board Member at TexGen LLC and Energy Harbor Corp.

    Rejoined NRG's board in 2024. Former EVP of Commercial Operations and Regional President at NRG Texas.

    Marcie C. Zlotnik

    Board

    Director

    None

    Joined NRG's board in 2023. Co-founder of StarTex Power and Gexa Energy. Brings over 20 years of experience in the retail electricity sector.

    Marwan Fawaz

    Board

    Director

    Board Member at CSG Systems International, Inc.

    Joined NRG's board in 2023. Former CEO of Nest Labs and Motorola Home. Brings expertise in smart home technology and broadband.

    Matthew Carter, Jr.

    Board

    Director

    CEO of Intrado Life & Safety, Inc.; Board Member at Jones Lang LaSalle Incorporated

    Joined NRG's board in 2018. Brings corporate leadership and technology expertise.

    Paul W. Hobby

    Board

    Director

    Managing Partner at Genesis Park, L.P.

    Joined NRG's board in 2006. Brings entrepreneurial and financial expertise, with a focus on M&A and governance.

    1. The company's growth projections heavily rely on the success of the Smart Home services and the Virtual Power Plant initiative, including significant customer adoption of the Home Essentials bundle . What are the risks associated with achieving the projected customer adoption rates and incremental revenues, and how confident is management in these assumptions?

    2. NRG's long-term outlook holds Texas power prices flat at $47 through 2029, despite expectations of market tightening due to growing demand . Why has management chosen not to factor in potential rises in Texas power prices, and how might this conservative pricing assumption impact future earnings?

    3. The company plans to return $8.8 billion to shareholders, with $7.1 billion dedicated to share repurchases . Given the significant opportunities for organic growth and potential investments in projects like data centers and Texas brownfield projects , how does management justify prioritizing share repurchases over investing in these growth opportunities?

    4. The new partnership with Renew Home and Google aims to develop a 1-gigawatt residential Virtual Power Plant in Texas, with Renew Home funding a significant portion of customer acquisition costs . Can you provide more details on the financial terms of this partnership, and what are the potential risks if customer adoption or VPP performance does not meet expectations?

    5. NRG has adjusted its reporting of adjusted EBITDA by moving amortization of capitalized customer acquisition costs into the depreciation and amortization line . This change resulted in an upward adjustment to the 2024 guidance midpoint by $130 million . How does this accounting change enhance transparency, and could it potentially lead to confusion among investors regarding the company's actual performance?

    Program DetailsProgram 1Program 2
    Approval DateJune 2023 October 2024
    End Date/DurationThrough 2025 Through 2025
    Total additional amount$2.7 billion $1.0 billion
    Remaining authorization amount$1.0 billion $1.0 billion
    DetailsPart of a $3.7 billion total authorization Part of a $3.7 billion total authorization
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024258Current Portion of Long-Term DebtN/A2.4% = (258 / 10,680) * 100
    2025500Senior Secured First Lien Notes2.0004.7% = (500 / 10,680) * 100
    2027900Senior Secured First Lien Notes2.4508.4% = (900 / 10,680) * 100
    2027600Vivint Senior Secured Notes6.7505.6% = (600 / 10,680) * 100
    2028821Senior Notes5.7507.7% = (821 / 10,680) * 100
    20281,310Vivint Senior Secured Term LoanSOFR + 2.75012.3% = (1,310 / 10,680) * 100
    2029733Senior Notes5.2506.9% = (733 / 10,680) * 100
    2029500Senior Notes3.3754.7% = (500 / 10,680) * 100
    2029500Senior Secured First Lien Notes4.4504.7% = (500 / 10,680) * 100
    2029800Vivint Senior Notes5.7507.5% = (800 / 10,680) * 100
    20311,030Senior Notes3.6259.6% = (1,030 / 10,680) * 100
    2031N/ATerm LoanSOFR + 2.000N/A
    2032480Senior Notes3.8754.5% = (480 / 10,680) * 100
    2033740Senior Secured First Lien Notes7.0006.9% = (740 / 10,680) * 100
    2048232Convertible Senior Notes2.7502.2% = (232 / 10,680) * 100
    NameStart DateEnd DateReason for Change
    KPMG LLP2004 PresentCurrent auditor

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Vivint Smart Home, Inc.

    2023

    NRG Energy, Inc. completed an all-cash acquisition on March 10, 2023, paying about $12 per share for a total transaction value of approximately $2.6 billion financed through diverse funding sources including secured corporate debt and a revolving credit facility. Strategically, the deal accelerates NRG's consumer-focused growth strategy by combining its energy expertise with Vivint’s 2 million smart home subscriber base and vertically integrated service capabilities, forming a leading essential home services platform.

    No recent press releases or 8-K filings found for NRG.