NRG Reports "Strong" Retail Margins, Customer Count Down Slightly

NRG reported that the $51 million increase in adjusted EBITDA for its Home Retail business during the quarter ending March 31, 2015, versus the year-ago, was driven by effective margin and risk management combined with colder than normal weather and lower supply costs

Click here for details on NRG Home Retail adjusted EBITDA first reported on Friday

Margins were "strong" and consistent with last year's quarterly performance despite the addition of lower margin Dominion Retail loads, said NRG COO Mauricio Gutierrez

"One year later, we continue to achieve better than expected results from the Dominion acquisition on both customer counts and EBITDA. Our customer count is performing in line with plans, given the anticipated Dominion contract expirations which we expect to be complete by year-end," Gutierrez said

NRG's Home Retail "recurring" customer count was down slightly as of March 31, 2015, at 2.784 million, versus 2.844 million as of December 31, 2014. The recurring customer count includes customers that subscribe to one or more recurring services, such as electricity and natural gas. The Home Retail customer count excludes home solar customers and C&I customers.

Home Retail load served was 10 TWh for the first quarter of 2015, versus 8 TWh a year ago.

NRG Home Solar's customer count at March 31, 2015 was 16,000, up from 13,000 as of December 31, 2014.

NRG continues to project 35,000 to 40,000 Home Solar customers by year-end.