NRG Reports Lower Retail Adjusted EBITDA On Higher Supply Costs
Reports On Contribution From Margin Enhancement Program
Reports Retail Customer Growth
May 2, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
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In reporting earnings for the quarter ending March 31, 2019, NRG reported that its Retail segment posted Adjusted EBITDA was $153 million, $35 million lower than first quarter 2018 ($188 million), driven by higher supply costs, partially offset by cost reduction and margin enhancement initiatives, as well as the acquisition of XOOM.
NRG said that its Margin Enhancement program provided $20 million in uplift in the first quarter toward the $135 million 2019 target.
NRG reported Q1 2019 its Retail Mass Recurring Customer count as 3,325,000, versus 2,878,000 a year ago. As of December 31, 2019, NRG's Retail Mass Recurring Customer has been reported as 3.3 million (rounded).
NRG Retail delivered volumes in Q1 2019 were 15.3 TWh, versus 14.7 TWh a year ago
The Retail segment's Income from Continuing Operations was $111 million for Q1 2019, versus $944 million a year ago, reflecting the impact of mark to market (MtM) gains/losses on economic hedges in each quarter
The Retail segment's Economic Gross Margin was $372 million for the first quarter of 2019, versus $376 million a year ago
The Retail segment's Operating revenues were $1.607 billion for the first quarter of 2019, versus $1.486 billion a year ago