HomeMay 8, 2015
Flash: NRG Says Retail Business Shows "Particular Strength"
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NRG Energy said in reporting earnings this morning that its competitive retail business showed, "particular strength."
The NRG Home Retail segment reported first quarter Adjusted EBITDA of $166 million, $51 million higher than the $115 million recorded in the first quarter of 2014
The increase was driven primarily by higher sales volume stemming from increased load from weather, favorable supply costs, effective margin management and higher customer counts, NRG said.
"This includes the impact of year-over-year customer count increases and product growth partially offset by increased operating costs to support additional customers," NRG said.
Net income for the Home Retail segment, which reflects the impact of mark-to-market hedges, was $104 million for the first quarter of 2015, versus $185 million a year ago.
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