The company completed the sale of its 100% ownership in the Airtron business unit, generating net proceeds of $484 million. This divestiture is part of a broader strategy to optimize the company's asset portfolio.

NRG has entered into a definitive partnership agreement with Renew Home, a leading Virtual Power Plant platform. This first-of-its-kind commercial partnership reinforces NRG's customer focus and brings to market unique products and services which will help customers save money while enjoying the benefits of a seamless energy and smart home experience.

The PUCT selected the T.H. Wharton project to move forward in the due diligence process for the Texas Energy Fund. The Company continues to explore its options for the Cedar Bayou 5 and Greens Bayou 6 projects. NRG's shovel ready projects are as follows: Cedar Bayou 5, Greens Bayou 6 and T.H. Wharton.

The company actively managed its debt profile by issuing new senior notes and using the proceeds to redeem existing debt, including the 6.625% Senior Notes due 2027. These actions reflect ongoing efforts to optimize the capital structure.

The Board of Directors authorized an additional $1.0 billion for share repurchases, demonstrating a commitment to returning capital to shareholders. However, the planned spend on reducing debt has been adjusted to $335 million, as NRG believes it will maintain its targeted credit metrics.

The Company continues to integrate Vivint Smart Home, with acquisition costs of $38 million for the nine months ended September 30, 2023 included in acquisition-related transaction and integration costs in the Company's consolidated statement of operations.

The PUCT continues to analyze and implement multiple options for promoting increased reliability in the wholesale electric market, including the adoption of a reliability standard for resource adequacy and market-based mechanisms to achieve this standard.

On May 9, 2024, Maryland Governor Wes Moore signed Senate Bill 1 into law, which restricts the competitive retail electric and natural-gas market in Maryland, affecting residential customers but not commercial and industrial customers.

NRG is subject to a wide range of environmental laws in the development, construction, ownership and operation of power plants, including increasingly stringent requirements regarding air quality, GHG emissions, water use and discharge, and threatened and endangered species.

The electric industry is expected to experience a surge in demand driven primarily by new manufacturing, industrial and data center facilities (inclusive of generative artificial intelligence ("gen AI")). ERCOT's current long term load forecast shows peak demand increasing from 86 GW in 2024 to 137 GW in 2028.

NRG has entered into a definitive partnership agreement with Renew Home, a leading Virtual Power Plant platform. This first-of-its-kind commercial partnership reinforces NRG's customer focus and brings to market unique products and services which will help customers save money while enjoying the benefits of a seamless energy and smart home experience.

A component of the Company's strategy is to procure mid to long-term generation through power purchase agreements. NRG has entered into Renewable PPAs totaling approximately 1.9 GW with third-party project developers and other counterparties, of which all are operational as of September 30, 2024.

Cost of operations (excluding depreciation and amortization shown below) increased from $6,406 to $7,239 for the three months ended September 30, 2024. The company cites planned major maintenance expenditures as a contributing factor.

Operations and maintenance expense increased by $66 million for the three months ended September 30, 2024, compared to the same period in 2023, due to the following: Increase primarily due to the prior year partial property insurance claim for the extended outage at W.A. Parish.

The Company closed on the sale of its 100% ownership in the Airtron business unit. Proceeds of $500 million were reduced by working capital and other adjustments of $16 million, resulting in net proceeds of $484 million.

NRG has entered into a definitive partnership agreement with Renew Home, a leading Virtual Power Plant platform. This first-of-its-kind commercial partnership reinforces NRG's customer focus and brings to market unique products and services which will help customers save money while enjoying the benefits of a seamless energy and smart home experience.

Vivint Smart Home's single, expandable platform incorporates artificial intelligence and machine learning into its operating system and its vertically integrated business model includes hardware, software, sales, installation, customer service and technical support and professional monitoring, enabling superior subscriber experiences and a complete end-to-end smart home experience.

ERCOT is progressing with a multi-year project to upgrade their systems to co-optimize the dispatch of energy and ancillary services in real-time. The RTC project will also replace the Operating Reserve Demand Curve with demand curves for each ancillary service product which will act as the primary scarcity pricing mechanism when energy or ancillary services are in shortage.

The Company issued $1.9 billion in aggregate principal amount of senior unsecured notes and $798 million aggregate principal amount of 5.750% senior unsecured notes due 2029. The company used the net proceeds from the offering of the Notes, together with the net proceeds of its new incremental term loan B in an aggregate principal amount of $450 million, and cash on hand, to pay the cash tender price for any and all of APX Group, Inc.'s 6.750% Senior Secured Notes due 2027 and to repay the APX Group, Inc.'s secured

The Board of Directors authorized an additional $1.0 billion for share repurchases, demonstrating a commitment to returning capital to shareholders. As of October 31, 2024, $2.0 billion is remaining under the $3.7 billion authorization.

The Company's long-term capital allocation policy is to target allocating approximately 80% of cash available for allocation after debt reduction to be returned to shareholders. In June 2023, NRG announced an increase to its share repurchase authorization to $2.7 billion, to be executed through 2025 as part of the existing share repurchase authorization.

A component of the Company's strategy is to procure mid to long-term generation through power purchase agreements. NRG has entered into Renewable PPAs totaling approximately 1.9 GW with third-party project developers and other counterparties, of which all are operational as of September 30, 2024.

In 2021, NRG informed its regulators that the Company intends to comply with the ELG by ceasing combustion of coal by the end of 2028 at its domestic coal units outside of Texas, and installing appropriate controls by the end of 2025 at its two plants that have coal-fired units in Texas.

Through Senate Bill 2627, the Texas Legislature created the Texas Energy Fund, which received voter approval in November 2023, and will provide grants and low-interest loans (3%) to incentivize the development of more dispatchable generation and smaller backup generation in ERCOT.

ERCOT's current long term load forecast shows peak demand increasing from 86 GW in 2024 to 137 GW in 2028. This load growth will require significant planning and construction of new generation and transmission.

Commodity price risks result from exposures to changes in spot prices, forward prices, volatilities and correlations between various commodities, such as natural gas, electricity, coal, oil and emissions credits.

The PUCT continues to analyze and implement multiple options for promoting increased reliability in the wholesale electric market. On May 9, 2024, Maryland Governor Wes Moore signed Senate Bill 1 into law, which restricts the competitive retail electric and natural-gas market in Maryland.