PRINCETON, N.J.--(BUSINESS WIRE)--Dec. 9, 2014-- NRG Energy, Inc. (NYSE:NRG) today announced that its Board of Directors, at its last regularly scheduled meeting of 2014, authorized the Company to repurchase $100 million of its common stock as part of its 2015 Capital Allocation Program. The authorization is effective immediately.

“In the collective view of NRG's management and directors, NRG stock represented a compelling value proposition even before the recent market weakness and the share price in no way reflects fairly either the existing value proposition or our exciting growth prospects across the full range of NRG businesses,“ said David Crane, NRG’s President and Chief Executive Officer. "We have a lot of exciting opportunities to reinvest NRG capital in our businesses in a value enhancing way but the value proposition of our own stock at these price levels is irresistible."

The purchase of common stock will be made using cash on hand with no defined timeframe 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 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 www.nrg.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy and @NRGMedia.

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. 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 the “Risk Factors” in Item 1A, " of our Annual Report on Securities and Exchange Commission Form 10-K for the year ended Dec. 31, 2013, which are incorporated by reference, as well as market conditions, securities regulations and capital available for allocation.

Source: NRG Energy, Inc.

NRG Energy, Inc.
Media:
Karen Cleeve, 609-524-4608
or
Investors:
Chad Plotkin, 609-524-4526