NRG Retail Posts Best Quarterly Results Since 2010, Reports Customer Growth

NRG Energy's Home Retail business delivered its best third quarter result since 2010, with $225 million in adjusted EBITDA for the quarter ending September 30, 2015, versus $167 million a year ago

During the quarter, NRG Home Retail captured value from a lower cost to serve, effective margin management, and expansion of its product offerings.

The company also reported "strong momentum" in customer acquisition and retention that led to net growth of 5,000 customers, despite the continued expiration of previously acquired Dominion Retail electric customer contracts in the East. Excluding the Dominion Retail electric contracts, NRG retail's customer growth was 26,000.

NRG Home Retail customer count stood at 2.771 million as of the third quarter of 2015, versus 2.766 million as of the second quarter of 2015.

Regarding retail, Elizabeth Killinger, president of NRG Retail, said on an earnings call that, "Regarding the competitive dynamics in the retail business, I think we continue to see intense competitive markets with -- we're 50 players in Texas, and it varies by market in the East, but anywhere from kind of 15 to 30-something competitors. So, lots of competitive activity. We are seeing competitors extend their product offerings to include more products than simply retail electricity, and that takes the form of energy management solutions, natural gas, some home-control type features ... home solar, and otherwise. So, we expect that to continue, which is why we continue to lead the market in evaluating what consumers want, and making sure we're delivering the best of it to them."