|
|
|
|
|
NRG Exceeds Raised Residential VPP Target, Expanding Residential VPP Into PJM; Reports Record Full Year 2025 Results
The following story is brought free of charge to readers by VertexOne, the exclusive EDI provider of EnergyChoiceMatters.com
In reporting earnings today, NRG Energy said that the company exceeded its raised 2025 Texas residential VPP target.
On August 6, 2025, NRG had raised its 2025 Texas Residential Virtual Power Plant target to 150 MW, up from 20 MW, "following strong customer adoption of the Home Essentials and other offerings."
NRG described the Texas residential VPP as ending the year 2025 at 10 times its original objective for the year
NRG said that the Texas residential VPP program remains on track to achieve 650 MW in Texas by 2030 and 1 GW by 2035.
NRG is preparing to expand its residential VPP into PJM
More specifically, NRG is looking to launch a VPP-like program in the East early in the second quarter of 2026
Concerning data centers, NRG said that it had 445 MW of long-term data center load contracted in 2025
NRG said that in addition to its previously reported (story here) GEV / Kiewit venture to develop 5.4 GW which may serve data centers, NRG identified 1 GW in uprate opportunities in PJM (via the LS Power portfolio) to additionally serve data center & large load "premium" PPAs
For the fourth quarter of 2025, Adjusted EBITDA for certain NRG segments was as follows:
For the full year 2025, NRG reported what it termed record 2025 results, with NRG citing, among other factors, "strong" Texas and Vivint Smart Home performance in 2025
For 2025, NRG Adjusted EBITDA was $4.1 billion, versus $3.8 billion a year ago
For NRG's Texas segment, full year 2025 Adjusted EBITDA was $1,877 million, which was $295 million higher than the prior year. The increase was primarily driven by improved margins and supply cost optimization, partially offset by higher planned plant maintenance expenditure, NRG said
For NRG's East segment, full year 2025 Adjusted EBITDA was $981 million, which was $25 million lower than the prior year. This decrease was primarily driven by higher cost to serve retail load, higher planned plant maintenance expenditure, and retirement of the Indian River facility, partially offset by higher natural gas wholesale margins and higher capacity prices for owned generation, NRG said
For NRG's West/Other segment, full year 2025 Adjusted EBITDA was $180 million, versus $230 million a year ago. This decrease was primarily driven by the sale of Airtron in September 2024 and termination of the Cottonwood lease in May 2025, partially offset by higher retail power margins.
NRG reported its fourth quarter and full year power load and natural gas sales as follows:
NRG's Smart Home segment was serving 2.35 million customers as of the fourth quarter of 2025, generally flat versus the third quarter of 2025, and up from 2.15 million a year ago
Of the Smart Home segment, NRG reported, "Continued strong performance from Smart Home, including record new
customer adds, continued strong retention, and higher service margin
per customer".
ADVERTISEMENT Copyright 2026 EnergyChoiceMatters.com. Unauthorized copying, retransmission, or republication
prohibited. You are not permitted to copy any work or text of EnergyChoiceMatters.com without the separate and express written consent of EnergyChoiceMatters.com
February 24, 2026
Email This Story
Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
4Q 2024 4Q 2025
Texas 327 259
East 282 301
West/Other 29 26
4Q24 4Q25
Texas EWO Texas EWO
Power Load (TWh)
Home 8 4 8 4
Business 9 13 9 14
Total 17 18 17 18
4Q24 4Q25
Natural Gas Sales (MDths)
Total -- 496 -- 533
Full Year 2024 Full Year 2025
Texas EWO Texas EWO
Power Load (TWh)
Home 39 18 39 18
Business 40 57 39 58
Total 80 75 78 76
Full Year 2024 Full Year 2025
Natural Gas Sales (MDths)
Total -- 1,833 -- 1,857
EWO: East/West/Other
NEW Jobs on RetailEnergyJobs.com:
• NEW / Refreshed 2/24/26 -- Manager, ISO Coordination (electricity), Retail Supplier
• NEW -- Billing Analyst - Retail Supplier
• Refreshed 2/2/26 -- Account Executive (Commercial Retail Energy)
|
|
|
|
|