Energy Choice
                            

Matters

NRG Reports Higher Retail Earnings

May 3, 2018

Email This Story
Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

The following story is brought free of charge to readers by EC Infosystems, the exclusive EDI provider of EnergyChoiceMatters.com

NRG Energy reported that its Retail segment recorded Adjusted EBITDA of $188 million for the first quarter of 2018, $55 million higher than first quarter 2017, due to lower operating costs and higher gross margin with increased customer count, higher customer usage and favorable weather in 2018

NRG reported its Q1 2018 recurring mass market customer count as 2.878 million, versus 2.832 million as of Q1 2017. NRG had reported recurring mass market customer count as of Q4 2017 as 2.88 million

NRG said that its Retail segment reduced operating costs year over year, despite having 45,000 more customers than Q1 2017

Retail's Q1 2018 volumes were 14.7 TWh, versus 13.5 TWh in Q1 2017

NRG said that its previously announced acquisition of Xoom Energy for $210 million is to close in the second quarter of 2018. Xoom is expected to contribute about $45 million in Adjusted EBITDA annually

NRG discussed its strategy for Retail in Texas this summer given the tight reserve margin. NRG has prepared for high price conditions by fully hedging priced-load, purchasing options for a high load/price scenario, and engaging in customer outreach and education. NRG said that its Texas Retail business is 102% hedged for this summer

ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Operations Analyst -- Retail Supplier
• NEW! -- Sr. Business Development Manager -- Retail Supplier
• NEW! -- Sales Support Specialist -- Retail Supplier
• NEW! -- Natural Gas Operations Manager -- Retail Supplier
• NEW! -- Energy Consultant
• NEW! -- Director, Retail Energy Supply & Pricing -- Retail Supplier -- Houston
• NEW! -- Sales and Channel Partner Manager -- Retail Supplier