NRG Reports Retail Customer Growth, Lower Retail Earnings

NRG Energy's retail businesses collectively grew their customer base by 31,000 since the fourth quarter of 2011, NRG Energy said in reporting earnings this morning.

A breakdown of growth by retail provider was not immediately available. NRG had not filed its 10-Q as of press time

NRG listed its total mass market customer count as of the first quarter as approximately 2.1 million customers, representing 5.6 TWh for the quarter.

NRG also listed "new" retail markets for 2012 as including (aside from the previously entered Mid-Atlantic markets, New York and Massachusetts) Ohio, Connecticut, and Oregon (given Energy Plus has been active in Ohio and Connecticut prior to 2012, we take these to mean new Reliant markets).

NRG reported retail segment Adjusted EBITDA for the first quarter of 2012 of $112 million, versus $160 million a year ago. The first quarter of 2012 was negatively impacted by $25 million primarily due to lower volume resulting from mild winter weather in Texas as well as increased risk management activities. NRG also reported increased retail marketing expense to continue customer acquisition momentum.

NRG retail segment net income was $7 million for the quarter, versus $297 million a year ago.