NRG Energy Inc (NYSE: NRG) is an energy company that generates and sells electricity and related products to residential and business customers. Revenue comes from selling power at retail rates, with the company operating both generation assets and retail energy supply businesses. NRG serves two primary customer segments: NRG Business, which serves commercial and industrial customers, and a residential retail segment. Generation assets disclosed in the 10-K filed 2026-02-24 include the Cedar Bayou Unit 5, a 689 MW natural gas-fueled combined cycle plant in Texas, and the Cottonwood Generating Station, a 1,139 MW natural gas-fueled plant operated through May 2025. The company's common stock trades on the New York Stock Exchange, and as of January 31, 2026, shares of common stock, par value $0.01 per share, were outstanding. The filing references operations in Texas and Alberta, Canada, among other markets. NRG is incorporated and carries a material debt load consistent with capital-intensive power generation and retail energy businesses.

Revenue model

NRG generates revenue by selling electricity and energy products to retail residential and business customers, and through wholesale power sales from owned generation assets. The business combines an upstream generation fleet with downstream retail energy supply.

Products and services

Retail electricity supply to residential customers; retail electricity supply to business customers (NRG Business segment); power generation from natural gas-fueled plants including Cedar Bayou Unit 5 (689 MW combined cycle) and Cottonwood Generating Station (1,139 MW, operated through May 2025).

Customers and end markets

Residential electricity consumers; commercial and industrial business customers (served under the NRG Business brand). End markets include deregulated retail electricity markets in Texas and other regions.

Value-chain role

Vertically positioned as both a power generator and a retail energy supplier. Owns and operates generation assets and sells electricity directly to end customers, bypassing independent retail intermediaries.

Geographic exposure

Texas is the primary disclosed market. Alberta, Canada is also referenced via the Alberta Electric System Operator (AESO) and Alberta Utilities Commission (AUC). California is referenced via CAISO and CPUC. Specific revenue breakdowns by geography are not supported by the available filing excerpts.

Source: SEC 10-K, filed 2026-02-24

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