SEC Filings

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

In accordance with ASC 815, the following table represents the results of the Company's financial and physical trading of energy commodities for the years ended December 31, 2014, and 2013. The realized and unrealized financial and physical trading results are included in operating revenues. The Company's trading activities are subject to limits within the Company's Risk Management Policy. Beginning in April 2014, the Company's trading activities were primarily transacted through BETM.
 
Year Ended December 31,
 
2014
 
2013
 
(In millions)
Trading gains/(losses)
 
 
 
Realized
$
136

 
$
66

Unrealized
14

 
(43
)
Total trading gains
$
150

 
$
23

Operations and maintenance expense
 
NRG Business
 
NRG Home Retail
 
NRG Home Solar
 
NRG Renew
 
NRG Yield
 
Eliminations
 
 
 
Gulf Coast
 
East
 
West
 
B2B
 
 
 
 
 
 
Total
 
(In millions)
Year Ended December 31, 2014
$
617

 
$
1,017

 
$
141

 
$
84

 
$
197

 
$
11

 
$
116

 
$
131

 
$
(84
)
 
$
2,230

Year Ended December 31, 2013
569

 
809

 
150

 
69

 
160

 

 
30

 
66

 
(64
)
 
1,789

Operations and maintenance expenses increased by $441 million for the year ended December 31, 2014, compared to the same period in 2013, due to:
 
(In millions)
Increase due to the acquisition of EME in April 2014
$
310

Increase for CVSR and Ivanpah projects which reached commercial operations in late 2013 and early 2014
78

Increase in Gulf Coast operations and maintenance expense primarily related to the timing and scope of outages at STP and other Texas plants, the acquisition of Gregory in August 2013, as well as fixed asset disposals at STP and the W.A. Parish and Limestone coal plants in Texas
60

Increase due to the acquisition of the Alta Wind Assets and Energy Systems Company
17

Increase in operations and maintenance expense as Marsh Landing, El Segundo, and other smaller projects reached commercial operations in 2013
15

Decrease in operations and maintenance expense for significant outages in 2013 at Morgantown, Seward, and Cheswick which did not recur in 2014, lower plant deactivation costs for Titus and sale of Kendall
(49
)
Other
10

 
$
441


Other cost of operations
Other cost of operations, comprised of asset retirement expense, insurance expense, and property tax expense, increased by $93 million for the year ended December 31, 2014, compared to the same period in 2013 due to increased expenses related various projects reaching commercial operations in late 2013 and early 2014, as well as an increase in property tax expense related to the acquisition of EME in April 2014 and the Alta Wind Assets in August 2014.

83