NRG Sees Retail Mass Market Customer Growth Accelerate

NRG Energy's mass market retail business saw an acceleration of its recurring customer count during the third quarter of 2016.

As first reported on Friday, NRG's mass market retail business ended the third quarter with 2.797 million customers, compared to 2.771 million as of the end of the second quarter of 2016.

The growth of 26,000 recurring mass market retail customers from June 30, 2016 to September 30, 2016 is higher than the growth of only 1,000 mass market retail customers seen from May 31, 2016 to June 30, 2016, and the growth of only 4,000 mass market retail customers seen from December 31, 2015 to May 31, 2016

NRG's mass market recurring customer count as of September 30, 2015 had been 2.762 million.

The mass market customer counts exclude C&I and NRG Home Solar customers

NRG Energy reported that its mass market Retail unit reported third quarter Adjusted EBITDA of $266 million, $41 million higher than the $225 million recorded in the third quarter of 2015, driven by operating cost efficiencies, and favorable gross margin as a result of lower supply costs and increased volumes from higher customer count and favorable weather