NRG Energy
NRG Energy is a leading integrated energy and smart-home technology provider that serves millions of residential, commercial, and industrial customers across North America. The company operates a differentiated business model that combines competitive power generation and natural gas supply with retail energy brands and home automation services. Its core value proposition centers on delivering reliable, affordable energy solutions while deepening customer engagement through an integrated smart-home platform.
Financials
Based on Q1 2026 filing
Revenue
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Texas
primaryA fully integrated segment encompassing customer, plant, and market operations within the ERCOT market. It leverages owned generation assets to supply retail load, reducing reliance on external intermediaries and stabilizing cash flows.
Retail Electricity, Natural Gas, Demand Response, Virtual Power Plants
Residential, Small Commercial, Large Commercial and Industrial, Data Centers
East
majorIncludes retail and wholesale operations across the Eastern U.S., primarily within PJM, NYISO, ISO-NE, and MISO markets. This segment focuses on competitive retail sales and capacity market participation.
Retail Electricity, Natural Gas, Carbon Offsets, Capacity Products
Residential, Municipal Aggregations, Commercial and Industrial
Vivint Smart Home
majorA technology-driven platform providing integrated home security, automation, and energy management solutions. It utilizes AI and machine learning to manage connected devices and supports the company's residential virtual power plant strategy.
Smart Cameras, Smart Locks, Smart Thermostats, Professional Monitoring, Vivint App
Residential
West/Other
moderateCovers retail energy sales in California and Canada, along with various equity investments and smaller generation assets. It includes participation in the CAISO market and regulated rate services in Alberta.
Retail Electricity, Natural Gas, Renewable Energy Products
Residential, Commercial, Community Choice Aggregations
Segment Financials
Texas Segment — Revenue from contracts with customers
View metricTexas Segment — Operating expenses
View metricTexas Segment — Other income, net
View metricEast Segment — Revenue from contracts with customers
View metricEast Segment — Other income, net
View metricEast Segment — Operating expenses
View metricVivint Smart Home — Revenue from contracts with customers
View metricVivint Smart Home — Operating expenses
View metricVivint Smart Home — Costs and Expenses
View metricWest/Other — Revenue from contracts with customers
View metricWest/Other — Other income, net
View metricWest/Other — Less: Revenues accounted for under topics other than ASC 606 and ASC 815
View metricBusiness Overview
Competitive Position
NRG is one of the largest competitive energy retailers in the U.S. and holds the leading share of residential electric customers in the Texas market.
Geographies
United States, Canada
Customer Segments
Residential, Commercial and Industrial, Data Centers, Wholesale Counterparties
Upstream Dependencies
Natural Gas Producers, Coal Suppliers (Powder River Basin), Rail Transportation Providers, Equipment Manufacturers, EPC (Engineering, Procurement, and Construction) Companies
Downstream Customers
Residential Homeowners, Data Center Operators, Industrial Manufacturers, Municipalities, Wholesale Power Marketers
Competitors & Partners
Competitors
Vistra
VST
Major competitive retail and generation peer in Texas
Constellation Energy
CEG
Competitor in retail energy and wholesale generation
CenterPoint Energy
CNP
Competitor in the Texas retail and wholesale power markets
ADT
ADT
Competitor in the smart home security and monitoring space
Amazon
AMZN
Large-cap technology competitor in smart home devices
Alphabet Inc.
GOOGL
Large-cap technology competitor in smart home devices
Partners
CPower
Demand response platform acquired as part of the LSP Portfolio
Subsidiaries
Reliant
Retail energy brand
Direct Energy
Retail energy brand
Green Mountain Energy
Renewable energy retail provider
Vivint Smart Home
Smart home technology and security platform
NRG Energy FAQ
Common questions about NRG Energy
NRG Energy is a leading integrated energy and smart-home technology provider that serves millions of residential, commercial, and industrial customers across North America. The company operates a differentiated business model that combines competitive power generation and natural gas supply with retail energy brands and home automation services. Its core value proposition centers on delivering reliable, affordable energy solutions while deepening customer engagement through an integrated smart-home platform.
NRG Energy (NRG) has a market capitalization of $26.5B and trades on NYSE.
NRG Energy generated $32.4B in trailing twelve-month revenue with net income of $239.0M, representing a net margin of 0.7%. Gross margin stands at 16.4%, with free cash flow of $455.0M. These figures are based on the Q1 2026 filing.
NRG Energy's key competitors include Vistra Corp., Constellation Energy, CenterPoint Energy, Inc., and others. These companies compete in similar markets and product categories.
NRG Energy has approximately 18,131 employees.