MINNEAPOLIS, June 15, 2001 (BUSINESS WIRE)—During a conference call today, NRG Energy, Inc. (NYSE:NRG) reported it is on track to achieve its stated goal of increasing earnings and megawatt ownership by at least 25 percent in 2001.

"Consistent with NRG's strategy of being among the top three competitive energy providers in each of its markets, NRG continues to grow through a disciplined acquisition program and accelerated greenfield and brownfield development," said David H. Peterson, NRG chairman, president and CEO. "We are confident we can sustain our growth momentum well into the future and reach our goal of owning 50,000 megawatts by year-end 2005."

The company confirmed its 2001 earnings per share estimate of $1.35 and went on to give earnings guidance for each quarter of 2001 as follows:

Second quarter 2001         Third quarter 2001 Fourth quarter 2001

0.21 - 0.22 cents per share 0.65 - 0.70 cents per share 0.25 - 0.27 cents per share

The company went on to list projects it has closed since April. The list (shown below) included a number of greenfield and brownfield projects that have either recently entered, or are expected to enter, into commercial operations within the next few weeks.

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    Project Name            Location          Net MW      Operating
                                             Increase     Status or
                                                       (Expected Date
                                                       of Operation)
------------------------- -------------------- ------ ----------------
Audrain                    Missouri, USA        640         Operating
------------------------- -------------------- ------ ----------------
Batesville                 Mississippi, USA     427         Operating
------------------------- -------------------- ------ ----------------
Batesville expansion       Mississippi, USA     146        (June 2002)
------------------------- -------------------- ------ ----------------
Cajun Peakers              Louisiana, USA       238        (June 2001)
------------------------- -------------------- ------ ----------------
Sterlington                Louisiana, USA        72        (June 2001)
------------------------- -------------------- ------ ----------------
Chowchilla II              California, USA       49         Operating
------------------------- -------------------- ------ ----------------
Dover expansion            Delaware, USA         88         Operating
------------------------- -------------------- ------ ----------------
Sabine River Works         Texas, USA           210        (Fall 2001)
------------------------- -------------------- ------ ----------------
MIBRAG                     Germany               79         Operating
------------------------- -------------------- ------ ----------------
Schkopau                   Germany              200         Operating
------------------------- -------------------- ------ ----------------
Nordic Power (and various  Bolivia, Brazil and  228         Operating
Latin American projects)   Peru                  97       (March 2002)
------------------------- -------------------- ------ ----------------

Additionally, the company listed various projects (shown below) it expected to close in the next few months. All projects will be in operation upon financial close.

----------------------------------------------------------------------

    Project Name                Location            Net MW Increase
---------------------- --------------------------- -------------------
Conectiv               Delaware, Maryland and New               1,767
                       Jersey, USA
---------------------- --------------------------- -------------------
Csepel                 Hungary                                    389
---------------------- --------------------------- -------------------
Kangal                 Turkey                                     219
---------------------- --------------------------- -------------------
McClain                Oklahoma, USA                              355
---------------------- --------------------------- -------------------
WisVest                Connecticut, USA                         1,051
---------------------- --------------------------- -------------------

NRG's chief financial officer, Leonard A. Bluhm, discussed NRG's filing of a $2 billion shelf registration statement with the Securities and Exchange Commission yesterday saying, "We filed the shelf registration statement because we are a growth company and it is prudent to be able to access the debt and equity markets when needs dictate and market conditions are favorable."

The company went on to say it has no current plans to issue additional equity.

NRG is a leading energy company engaged primarily in the acquisition, development, construction, ownership and operation of power generation facilities around the world.

A replay of today's conference call is available through the investor relations section of the company's web site, www.nrgenergy.com.

A $2 billion shelf registration statement has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Certain statements included in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements above include, but are not limited to, expected earnings and future growth and financial performance. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct. Factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements above include, among others, factors affecting power generation operations such as unusual weather conditions, unscheduled generator outages, unanticipated changes to fuel costs or availability and environmental incidents; changes in government regulation or the implementation of government regulations, including pending changes within or outside of California as a result of the California energy crisis, which could result in NRG's failure to obtain regulatory approvals required to close project acquisitions, and which could adversely affect the continued deregulation of the electric industry; risks associated with the timely completion of development projects, including obtaining competitive contracts and construction delays; and factors affecting the availability or cost of capital, such as changes in interest rates and market perceptions of the power generation industry, NRG or any of its subsidiaries. NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should not be construed as exhaustive.

For more information regarding these risks and uncertainties, please review NRG's registration statement on Form S-3, filed June 14, our annual report on Form 10-K and our other filings with the Securities and Exchange Commission.

More information on NRG Energy is available at www.nrgenergy.com.

Contacts:

NRG Energy, Inc.

Media Relations
Meredith Moore, 612/373-8892

Investor Relations
Rick Huckle, 612/313-8900