NRG Energy Announces Plan to Repurchase Additional Common Stock As Part of 2015 Capital Allocation Plan

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NRG Energy Announces Plan to Repurchase Additional Common Stock As Part of 2015 Capital Allocation Plan

March 16, 2015 at 7:00 AM EDT

PRINCETON, N.J.--(BUSINESS WIRE)--Mar. 16, 2015-- NRG Energy, Inc. (NYSE:NRG) today announced the authorization to repurchase $100 million of its common stock as part of its ongoing 2015 Capital Allocation Program. This share buyback program was approved by the Board of Directors on March 13, 2015. The program is in addition to the $100 million buyback announced in December 2014 and completed in February 2015 as well as approximately $195 million expected to be returned to its stockholders during 2015 through the common stock dividend. The authorization is effective immediately.

“While we had planned to tie the unveiling of our 2015 capital allocation plan to the receipt of proceeds from the next dropdown to NRG Yield, we believe the illogical disconnect between the Company’s recent share price performance and the Company’s current operational performance and future prospects presents an opportunity for us to invest in our success at a price level that is beyond compelling,” said David Crane, NRG’s Chief Executive Officer. “As we move forward from here, we will continue to take steps to direct the Company’s considerable cash generation and capital replenishment to its highest and best use, including further return of capital to the Company’s equity and debt stakeholders.”

The purchase of common stock will be made using cash on hand and may be made from time to time as market conditions warrant and subject to regulatory considerations. This action does not foreclose the possibility of further or different capital allocation actions in the future.

About NRG

NRG is leading a customer-driven change in the U.S. energy industry by delivering cleaner and smarter energy choices, while building on the strength of the nation’s largest and most diverse competitive power portfolio. A Fortune 250 company, we create value through reliable and efficient conventional generation while driving innovation in solar and renewable power, electric vehicle ecosystems, carbon capture technology and customer-centric energy solutions. Our retail electricity providers serve almost 3 million residential and commercial customers throughout the country. More information is available at Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy.

The information presented in this communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. These statements involve expectations for the Company’s Capital Allocation Program, including the common stock buyback program and the Company’s ability to continue to pay dividends to its stockholders. 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. The Company's share buyback program and common stock dividends are subject to available capital, market conditions, and compliance with associated laws and regulations. NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Factors that could cause actual results to differ materially from those contemplated above include the “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the year ended Dec. 31, 2014, which are incorporated herein by reference, as well as market conditions, securities regulations and capital available for allocation.

Source: NRG Energy, Inc.

NRG Energy, Inc.
Marijke Shugrue, 609-524-5262
Matt Orendorff, 609-524-4526
Lindsey Puchyr, 609-524-4527