NRG to Return Texas Natural Gas Plant to Service
-- NRG to restart power plant in Corpus Christi to help address low
reserve margins --
HOUSTON--(BUSINESS WIRE)--May 2, 2019--
NRG Energy, Inc. (NYSE: NRG) expects to return to service its inactive
385 MW Gregory natural gas plant, in Corpus Christi, Texas. The Gregory
plant ceased operations in late 2016 when its cogeneration partner,
Sherwin Alumina, filed for bankruptcy and discontinued operations.
Following resolution of certain issues resulting from the Sherwin
Alumina bankruptcy, the Gregory plant is expected to return to service
as a combined cycle facility in early June 2019.
“I am pleased to announce the return to service of this highly efficient
natural gas plant,” said Mauricio Gutierrez, President and CEO of NRG.
“The Public Utility Commission of Texas’ recent actions to further
strengthen the ERCOT market reinforced our decision to return Gregory to
service ahead of summer, providing additional reliability to our
customers and Texas’ growing economy.”
At full power, the Gregory plant can meet the needs of approximately
77,000 homes on the hottest days of the year.
At NRG, we’re redefining power by putting customers at the center of
everything we do. We create value by generating electricity and serving
nearly 3 million residential and commercial customers through our
portfolio of retail electricity brands. A Fortune 500 company, NRG
delivers customer-focused solutions for managing electricity, while
enhancing energy choice and working towards a sustainable energy future.
More information is available at www.nrgenergy.com.
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NRG Safe Harbor Disclosure
This news release contains 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. Such forward-looking statements are
subject to certain risks, uncertainties and assumptions and include
NRG’s expectations regarding the Gregory cogeneration plant and
forward-looking statements typically can be identified by the use of
words such as “will,” “expect,” “believe,” and similar terms. Although
NRG believes that its expectations are reasonable, it can give no
assurance that these expectations will prove to have been correct, and
actual results may vary materially. Factors that could cause actual
results to differ materially from those contemplated above include,
among others, general economic conditions, hazards customary in the
power industry, competition in wholesale power markets, the volatility
of energy and fuel prices, failure of customers to perform under
contracts, changes in the wholesale power markets, and changes in
government regulation of markets and of environmental emissions. 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 be
considered in connection with information regarding risks and
uncertainties that may affect NRG’s future results included in NRG’s
filings with the Securities and Exchange Commission at www.sec.gov.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190502005393/en/
Source: NRG Energy, Inc.
L. Cole, CFA