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SEC Filing Details

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

Renewables gross margin and economic gross margin
Renewables gross margin increased $25 million and economic gross margin increased $29 million for the year ended December 31, 2016, compared to the same period in 2015, primarily driven by a 15% increase in generation at both the Mountain Wind I and II facilities, a 4% increase in generation at the Ivanpah solar plant and generation from the Guam solar plant that reached COD in the third quarter of 2015.
NRG Yield gross margin and economic gross margin
NRG Yield gross margin increased $71 million and economic gross margin increased $90 million for the year ended December 31, 2016, compared to the same period in 2015, primarily related to a 26% increase in volume generated at Alta wind projects as well as an increase in price per MWh at Alta X and XI wind projects as the PPAs began in January 2016 compared to merchant prices in 2015.

Mark-to-market for Economic Hedging Activities
Mark-to-market for economic hedging activities includes asset-backed hedges that have not been designated as cash flow hedges. Total net mark-to-market results increased by $59 million in the year ended December 31, 2016, compared to the same period in 2015.
The breakdown of gains and losses included in operating revenues and operating costs and expenses by region are as follows:
 
Year Ended December 31, 2016
 
Generation
 
 
 
 
 
 
 
 
 
 
 
Gulf Coast
 
East/West
 
Retail
 
Renewables
 
NRG Yield
 
Elimination(a)
 
Total
 
(In millions)
Mark-to-market results in operating revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
Reversal of previously recognized unrealized (gains)/losses on settled positions related to economic hedges
$
(389
)
 
$
(89
)
 
$
(2
)
 
$

 
$

 
$
33

 
$
(447
)
Net unrealized (losses)/gains on open positions related to economic hedges
(129
)
 
41

 
2

 
(6
)
 

 
(103
)
 
(195
)
Total mark-to-market losses in operating revenues
$
(518
)
 
$
(48
)
 
$

 
$
(6
)
 
$

 
$
(70
)
 
$
(642
)
Mark-to-market results in operating costs and expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
Reversal of previously recognized unrealized losses/(gains) on settled positions related to economic hedges
$
31

 
$
16

 
$
305

 
$

 
$

 
$
(33
)
 
$
319

Reversal of acquired gain positions related to economic hedges

 
(12
)
 

 

 

 

 
(12
)
Net unrealized gains/(losses) on open positions related to economic hedges
40

 
(2
)
 
60

 

 

 
103

 
201

Total mark-to-market gains in operating costs and expenses
$
71

 
$
2

 
$
365

 
$

 
$

 
$
70

 
$
508

(a)
Represents the elimination of the intercompany activity between Retail and Generation.

85