NRG Energy, Inc. is a leading energy and home services company, delivering innovative and sustainable solutions across the U.S. and Canada. The company's core business involves the sale of electricity and natural gas to residential, commercial, industrial, and wholesale customers. NRG also offers smart home products and services through brands like NRG, Reliant, Direct Energy, Green Mountain Energy, and Vivint. The company has a customer base of approximately 8 million residential consumers, supported by approximately 13 GW of generation capacity. NRG's retail brands have the largest share of competitively served residential electric customers in Texas and nationwide. The company's strategy focuses on the convergence of energy and smart automation, with a diversified supply strategy and a commitment to sustainability.

• Employees: 18,131 (as of December 31, 2023)
• Geographic Footprint: 25 U.S. states, the District of Columbia, and 8 provinces in Canada
• Headquarters: Houston, Texas
• Founded: Not explicitly stated in the filing
• Number of locations/facilities: 19 power generation plants
• Revenue: $28.82 billion (FY2023)
• Market capitalization: Not explicitly stated in the filing
• Key Subsidiaries or Brands: NRG, Reliant, Direct Energy, Green Mountain Energy, Vivint

• CEO: Lawrence S. Coben (Interim)
• CFO: Woo-Sung Chung
• Other Key Executives: G. Alfred Spencer (Chief Accounting Officer)

• Annual Revenue: $28.82 billion (FY2023)
• Net Loss: $(0.202) billion (FY2023)
• Total Assets: $26.04 billion (as of December 31, 2023)
• Number of employees: 18,131 (as of December 31, 2023)
• Key Financial Highlights: The company sold 152 TWh of electricity and 1,892 MMDth of natural gas in 2023.

NRG offers a variety of products to residential and commercial customers:

• Retail Electricity and Energy Management: Provision of electricity and energy management solutions to residential and small commercial customers.
• Natural Gas: Supply of natural gas to residential and small commercial customers.
• Smart Home Products and Services: Integrated smart home solutions including smart cameras, locks, lights, thermostats, garage door control, and safety and security sensors.
• Other Products: Line and surge protection products, HVAC installation, repair and maintenance, home protection products, carbon offsets, back-up power stations, portable power, portable solar and portable lighting.

NRG's business is segmented as follows:

• Texas: Includes all activity related to customer, plant, and market operations in Texas, other than Cottonwood.
• East: Includes all activity related to customer, plant, and market operations in the East.
• West/Services/Other: Includes activity related to customer, plant, and market operations in the West and Canada, the Services businesses, activity related to the Cottonwood facility, and other investments.
• Vivint Smart Home: Includes Vivint Smart Home operations.
• Corporate: Includes corporate activities.

NRG's strategy is to maximize stakeholder value by being a leader in the convergence of energy and smart automation. The company focuses on:

• Serving the energy needs of end-use customers in competitive markets.
• Offering differentiated energy products and services, including renewable energy solutions and smart home products.
• Achieving operational excellence.
• Optimizing supply to meet customer load requirements.
• Engaging in disciplined and transparent capital allocation.

The company also focuses on sustainability, reduced risks and enhanced reputation.

NRG operates in the competitive energy retail and wholesale generation industry. Key aspects include:

• Primary Industry: Energy and home services.
• Market Trends: Consolidation in the retail energy space, increasing competition, expanding smart home market, and growing focus on sustainability.
• Major Competitors: Regulated utilities, municipalities, cooperatives, other independent power producers, and power marketers.
• Market Share: NRG's retail brands have the largest share of competitively served residential electric customers in Texas and nationwide.

• Acquisition Risks: Difficulties in integrating Vivint Smart Home, managing uniform processes, and potential issues in integrating IT systems.
• Market Risks: Fluctuations in retail and wholesale power and natural gas prices, as well as changes in coal and oil markets.
• Operational Risks: Supply disruptions, plant outages, and reliance on third-party service providers.
• Cybersecurity Risks: Advanced persistent cyber-based security threats and integrity risks.
• Regulatory Risks: Changes in energy regulations, environmental laws, and market rules.