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NRG Informs Investors of Expected Impairment Charge
NRG Energy filed an 8-K on Friday informing investors that it expects to record a material impairment loss on certain assets located primarily in the East in the fourth quarter of 2013.
NRG annually, during the fourth quarter, revises its views of power and fuel prices including the company's fundamental view for long term prices in connection with the preparation of its annual budget.
"While this review is ongoing, the Company believes that its revised views of projected profitability for certain assets located primarily in the East will result in a significant adverse change in the extent to which these assets are expected to be used," NRG said in the 8-K.
"The Company considers this to be an indicator of impairment and accordingly, is performing impairment tests for these assets. The Company expects to record a material impairment loss on these assets in the fourth quarter of 2013. Any impairment loss will not have an impact on the Company's cash flows or the Company's previously stated guidance estimates for 2013 and 2014," NRG said.
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January 13, 2014
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