Print Page  |  Close Window

SEC Filing Details

10-K
NRG ENERGY, INC. filed this Form 10-K on 03/01/2018
Entire Document
 

Extreme Weather Events
In late August 2017, Hurricane Harvey made landfall on the Texas coast.  During the third quarter of 2017, the Company’s Retail business was impacted by Hurricane Harvey by approximately $20 million.
In addition, during August 2017, NRG's Cottonwood generating station was damaged when the Sabine River Authority opened the floodgates of the Toledo Bend reservoir, which resulted in downstream flooding of the Sabine River. The generating station was returned to service during the fourth quarter of 2017. The Company estimates the impact of the Cottonwood damage and Hurricane Harvey on Gulf Coast Generation to be approximately $20 million.
Impairments
Impairment losses — During 2017, the Company recorded impairment losses of $1.7 billion as discussed in more detail in Item 15 Note 10, Asset Impairments and Note 11, Goodwill and Other Intangibles, to the Consolidated Financial Statements.
Impairment losses on Investments — During 2017, the Company recorded impairment losses of $79 million related primarily to Petra Nova, as discussed in more detail in Item 15 Note 10, Asset Impairments, to the Consolidated Financial Statements.
Operational Matters
Bacliff Project
On June 16, 2017, the Company provided notice to BTEC New Albany, LLC that NRG Texas Power LLC was exercising its right to terminate the Amended and Restated Membership Interest Purchase Agreement, or MIPA, due to the Bacliff Project, a new peaking facility at the former P.H. Robinson Electric Generating Station, not achieving commercial completion by the contractual expiration date of May 31, 2017. On July 14, 2017, the Company gave notice to BTEC New Albany, LLC that it owes NRG Texas Power LLC approximately $48 million under the terminated MIPA, consisting of $38 million in purchaser incurred costs and $10 million in liquidated damages. On July 18, 2017, BTEC filed a lawsuit alleging that NRG Texas Power LLC breached the MIPA by improperly terminating it, and seeks a declaratory judgment as to the rights and obligations of the parties.  On August 14, 2017, NRG filed its answer.  On September 7, 2017, NRG filed a counterclaim for breach of contract seeking damages in excess of $48 million.


68