SEC Filings

10-K
NRG ENERGY, INC. filed this Form 10-K on 02/29/2016
Entire Document
 
                


NRG Home Retail economic gross margin
The following is a discussion of economic gross margin for NRG Home Retail.
Selected Income Statement Data
 
Years ended December 31,
(In millions except otherwise noted)
2015
 
2014
Home Retail revenue
$
5,251

 
$
5,269

Supply management revenue
138

 
233

Operating revenues (a)
$
5,389

 
$
5,502

Cost of sales (b)
(3,891
)
 
(4,223
)
Economic gross margin
$
1,498

 
$
1,279

 
 
 
 
Business Metrics
 
 
 
Electricity sales volume (GWh) - Gulf Coast
34,600

 
33,284

Electricity sales volume (GWh) - All other regions
8,090

 
8,218

Average NRG Home Retail customer count (in thousands) (c)
2,783

 
2,718

NRG Home Retail customer count (in thousands) (c)
2,766

 
2,844

(a)
Includes intercompany sales of $8 million and $9 million, respectively.
(b)
Includes intercompany purchases of $1,054 million and $1,846 million, respectively.
(c)
Excludes Discrete customers.
NRG Home Retail economic gross margin increased $219 million for the year ended December 31, 2015, compared to the same period in 2014, driven by:
 
(In millions)
Higher gross margin due to lower supply costs partially offset by lower rates to customers driven by a decrease in natural gas prices
$
172

Higher gross margin due to lower supply costs on the higher sales volumes resulting from weather in 2015
50

Other
(3
)
 
$
219


NRG Home Solar economic gross margin
NRG Home Solar economic gross margin increased by $6 million for the year ended December 31, 2015, compared to the same period in 2014, which was primarily related to an increase in solar leases deployed.
NRG Renew economic gross margin
NRG Renew economic gross margin increased $58 million for the year ended December 31, 2015, compared to the same period in 2014. The increase in gross margin was a result of the EME acquisition in April 2014 and improved performance at the Ivanpah project, as it continues towards full production capabilities.
NRG Yield economic gross margin
NRG Yield economic gross margin increased $170 million for the year ended December 31, 2015, compared to the same period in 2014. The increase in gross margin was primarily related to the acquisition of the Alta Wind Assets in August 2014 as well as the acquisition of the January 2015 Drop Down Assets and the November 2015 Drop Down Assets from NRG, the majority of which were acquired by NRG from EME in April 2014.

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