NRG ENERGY, INC.

NRG Energy, Inc. (NYSE: NRG) operates as a leading competitive energy retailer and power generator across North America, serving approximately eight million residential customers alongside commercial, industrial, data center, and wholesale customers. The company's website is www.nrg.com.

The company's core business encompasses the sale of electricity and natural gas to retail customers, supported by a diversified wholesale generation portfolio of approximately twelve gigawatts of capacity, primarily located in Texas. NRG sold 154 terawatt-hours of electricity and 1,857 million dekatherms of natural gas in 2025. The company operates under multiple retail brands including NRG, Reliant, Direct Energy, and Green Mountain Energy, maintaining the largest share of competitively served residential electric customers in Texas and serving customers across 25 U.S. states, the District of Columbia, and eight Canadian provinces.

NRG's business is organized into five reportable segments: Texas, East, West/Other, Vivint Smart Home, and Corporate activities. The Texas segment includes all customer, plant, and market operations within the state, where the company maintains an integrated model combining retail load with generation supply. The East segment covers operations in eastern U.S. markets, while West/Other encompasses western U.S. operations and Canadian activities. Vivint Smart Home, a leading smart home platform providing security, automation, and related services, served approximately 2.4 million customers as of December 31, 2025, with an average customer lifetime of approximately nine years.

The company's generation portfolio comprises natural gas, coal, oil, and utility-scale solar facilities. NRG's generation assets are diversified by fuel type and dispatch level across multiple independent system operators including ERCOT, PJM, NYISO, ISO-NE, MISO, and CAISO. In January 2026, NRG completed the acquisition of the LS Power portfolio, adding eighteen natural gas-fired and dual fuel facilities totaling approximately thirteen gigawatts of capacity across nine states, along with CPower, a demand response platform.

NRG's strategy emphasizes maximizing shareholder value through integrated energy and smart home solutions, supported by owned generation and diversified supply strategies. The company focuses on serving residential, commercial, and industrial customers while advancing opportunities in demand response, virtual power plants, and long-term contract-backed generation development.