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NRG Energy, Inc. Subsidiaries Receive Confirmation of Plan of Reorganization

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NRG Energy, Inc. Subsidiaries Receive Confirmation of Plan of Reorganization

November 25, 2003 at 12:00 AM EST

NRG Energy, Inc. Subsidiaries Receive Confirmation of
Plan of Reorganization

MINNEAPOLIS (November 25, 2003) -- The U.S. Bankruptcy Court for the Southern District of New York, the Honorable Prudence Carter Beatty presiding, today entered an order confirming the Plan of Reorganization for 21 of NRG Energy, Inc.'s (NRG) operating subsidiaries in the Northeast and South Central regions of the United States. The subsidiaries, which are owned by NRG Northeast Generating LLC and South Central Generating LLC, operate power generation facilities in New York, Connecticut, Massachusetts and Louisiana.

A key condition of the subsidiaries' Plan of Reorganization is completion of $2.215 billion in exit financing which will be used to pay off all existing secured debt of the subsidiaries covered by the Plan. The subsidiaries are expected to emerge from bankruptcy upon completion of the financing. The confirmation follows yesterday's order by the Court confirming NRG Energy, Inc.'s Plan of Reorganization.

NRG Energy, Inc. owns and operates a diverse portfolio of power-generating facilities, primarily in the United States. Its operations include competitive energy production and cogeneration facilities, thermal energy production and energy resource recovery facilities.

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, the timing of NRG and NRG-PMI's emergence from Chapter 11 and the amount and timing of Xcel's payments to NRG and its creditors. 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, NRG's inability to satisfy all requirements to the effectiveness of the Plan of Reorganization, the possibility that a party may file an appeal of the order approving the Plan of Reorganization, and the failure of NRG to complete the exit financing required for consummation of the Plan of Reorganization.

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 risks and uncertainties that may affect NRG's future results, review NRG's filings with the Securities and Exchange Commission.

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Lesa Bader, 612.373.6992