NRG Reports Lower Retail Mass Market Earnings on Weather; Sees Stable Customer Count

NRG Energy reported that its Retail mass market segment recorded first quarter Adjusted EBITDA of $151 million, $15 million lower than the $166 million recorded in the first quarter 2015, due to milder weather, partially offset by lower supply costs and operating cost efficiencies.

Mass market retail load in the first quarter of 2016 was 8,546 GWh, down from 10,166 GWh a year ago

NRG's retail mass market customer count for the first quarter of 2016 was 2.770 million, versus 2.766 million as of the fourth quarter of 2015

As first reported yesterday, NRG is shifting its residential solar business to integrate the business into NRG retail and transition the solar business to an originate-and-monetize to third party model (click here for more details).

During an earnings call yesterday, NRG executives stressed that, if economics become viable, they see offering solar in the Texas market, leveraging NRG's Texas retail customer base, as the ultimate prize.