HomeMay 2, 2017
NRG Reports Retail Mass Market Customer Growth During Quarter, Gross Margins Lower
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NRG Energy reported that its Retail unit saw mass market customer growth during the quarter ending March 31, 2017 (first quarter), but earnings were weighed by lower margins
NRG's Retail business saw a net increase in mass market customer count of 14,000 from Q4 2016 to Q1 2017.
Retail's mass market recurring customer count stood at 2.832 million as of Q1 2017, versus 2.818 million as of Q4 2016
Total retail volumes for Q1 2017 were 13.5 TWh (of which 8.6 TWh was mass market), versus 13.1 TWh (8.5 TWh mass market) a year ago
The Retail segment reported first quarter Adjusted EBITDA was $133 million, $23 million lower than first quarter of 2016 due primarily to lower gross margins due to mild weather and customer mix, partially offset by an increase in customer count and steady weather-normalized usage per customer
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