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NRG Retail Adjusted EBITDA Up on "Sustained" Margins
NRG Energy reported an increase in retail segment Adjusted EBITDA on "sustained" margins and customer growth.
Retail Adjusted EBITDA for the quarter ending June 30, 2014 was $173 million, versus $140 million a year ago.
NRG said that it experienced "sustained" unit margins, listing retail unit gross margin as $21.9/MWh for the quarter ending June 30, 2014, versus $21.5/MWh a year ago. Gross margin represents revenues less cost of goods sold, and excludes O&M and SG&A.
NRG reported Q2 2014 customer count as 2.9 million (including Dominion Retail customers awaiting integration), versus a Q1 2014 customer count of 2.4 million
NRG said that it grew its customer base organically by 35,000 -- 16,000 in Texas, and 19,000 in the Northeast.
NRG also said that various new innovative products in Texas have improved retention rates by up to 25% for customers enrolled on such products.
As first reported by EnergyChoiceMatters.com yesterday, NRG is organizing its mass market customer-facing businesses under the NRG Home umbrella, including retail supply, solar, home services, smart energy, and personal/"on the go" power solutions (click here for more)
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August 8, 2014
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Copyright 2010-14 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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