Investors

NRG Energy Counts Trading Exposure to Enron at Less Than $10 Million

Investors News Release

  View printer-friendly version
<<  Back

NRG Energy Counts Trading Exposure to Enron at Less Than $10 Million

November 29, 2001 at 12:00 AM EST

MINNEAPOLIS, Nov 29, 2001 (BUSINESS WIRE) --NRG Energy, Inc. (NYSE:NRG) announced that it estimates its exposure to Enron through global trading activity is less than $10 million.

"NRG actively manages our exposure to counterparty risk," said Leonard A. Bluhm, NRG's chief financial officer, "and therefore we don't anticipate any materially adverse impact on earnings due to our trading activities with Enron."

NRG is a leading global energy company engaged primarily in the development, construction, acquisition, ownership and operation of power generation facilities. NRG owns 24,352 MW of generating assets in operation and under construction. The company's operations utilize such diverse fuel sources as natural gas, oil, coal and coal seam methane, biomass, landfill gas, and hydro, as well as refuse-derived fuel.

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. 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, market and economic conditions and the outcome of legal proceedings.

NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For more information regarding risks and uncertainties that may affect NRG's future results, review NRG's filings with the Securities and Exchange Commission.

Contacts:

NRG Energy, Inc.

Media Relations
Meredith Moore, 612/373-8892

Investor Relations
Rick Huckle, 612/313-8900