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Updated: NRG Discloses Organic Retail Growth
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During an earnings call, NRG Energy disclosed further details on its customer growth
As first reported by EnergyChoiceMatters.com yesterday, NRG reported that its recurring Retail mass market customer count was 3.3 million as of year-end, versus 3.167 million as of Q3 2018, and 2.9 million a year ago
More specifically, NRG reported that its Retail Mass customer count at December 31, 2018 was 3.320 million, versus 2.876 million a year ago.
While most of the growth of about 445,000 customers was through M&A, NRG said that it did see organic growth of 30,000 customers
As previously reported, Xoom accounted for adding 300,000 customers at NRG, while smaller book purchases in 2018 accounted for approximately 115,000 customers
As first reported by EnergyChoiceMatters.com, NRG had reported that during 2018 it acquired several books of customers totaling approximately 115,000 customers, along with brand names, for $44 million. Although NRG did not further specify the identity of the acquired books and brands, EnergyChoiceMatters.com had exclusively reported in October (see story here) that NRG was acquiring the retail customer books and brand assets of Discount Power, Power Express and Volterra from Volterra Energy Holdings LLC (VEH). Earlier in the year, NRG acquired customers from Pioneer Energy and STAT Energy
More specifically, NRG Retail customer counts were as follows by commodity:
For 2018, NRG listed the Retail economic gross margin per MWh and $26.91/MWh, versus $25.51/MWh a year ago
NRG reported that as of December 31, 2018, 65% of retail contracts were term, 25% were variable, and 10% were indexed
See our prior story yesterday for further details on NRG earnings and strategy
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March 1, 2019
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Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
Year Ended December 31,
2018 2017
Electricity
Texas Mass 2,291 2,159
Non-Texas Mass 903 673
Natural Gas
Mass 99 15
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