0001013871-20-000023 | 10-Q | XBRL Viewer

Long-term Debt (Tables)

3 Months Ended

Mar. 31, 2020

Long-term debt consisted of the following:


(In millions, except rates)	March 31, 2020		December 31, 2019		Interest rate %
Recourse debt:
Senior Notes, due 2026	$	1,000	$	1,000	7.250
Senior Notes, due 2027	1,230		1,230		6.625
Senior Notes, due 2028	821		821		5.750
Senior Notes, due 2029	733		733		5.250
Convertible Senior Notes, due 2048	575		575		2.750
Senior Secured First Lien Notes, due 2024	600		600		3.750
Senior Secured First Lien Notes, due 2029	500		500		4.450
Revolving Credit Facility^(a)	635		83		L+ 1.750
Tax-exempt bonds	466		466		1.300 - 6.000
Subtotal recourse debt	6,560		6,008
Non-recourse debt:


Other	32		34		various
Subtotal all non-recourse debt	32		34
Subtotal long-term debt (including current maturities)	6,592		6,042




Less current maturities	(640)		(88)
Less debt issuance costs	(63)		(65)
Discounts	(82)		(86)
Total long-term debt	$	5,807	$	5,803

(a) As of March 31, 2020, the Company had drawn under its Revolving Credit Facility using a mix of 1-week LIBOR and 1-month LIBOR + 1.750

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Revenues
Total operating revenues	$ 2,019	$ 2,165
Operating Costs and Expenses
Cost of operations	1,457	1,651
Depreciation and amortization	109	85
Selling, general and administrative	209	194
Reorganization costs	3	13
Development costs	3	2
Total operating costs and expenses	1,781	1,945
Gain on sale of assets	6	1
Operating Income/(Loss)	244	221
Other (Expense)/Income
Equity in losses of unconsolidated affiliates	(11)	(21)
Impairment losses on investments	18	0
Other income, net	27	12
Interest expense	(98)	(114)
Total other income/(expense)	(100)	(123)
Income from Continuing Operations Before Income Taxes	144	98
Income tax expense	23	4
Income from Continuing Operations	121	94
Income from discontinued operations, net of income tax	0	388
Net Income (Loss)	$ 121	$ 482
Earnings per Share
Weighted average number of common shares outstanding — basic (in shares)	248	278
Income from continuing operations per weighted average common share — basic (in usd per share)	$ 0.49	$ 0.34
(Loss)/income from discontinued operations per weighted average common share — basic (in usd per share)	0	1.39
Earnings/Loss per Weighted Average Common Share — Basic (in usd per share)	$ 0.49	$ 1.73
Weighted average number of common shares outstanding — diluted (in shares)	249	280
Income from continuing operations per weighted average common share — diluted (in usd per share)	$ 0.49	$ 0.34
(Loss)/income from discontinued operations per weighted average common share — diluted (in usd per share)	0	1.38
Earnings/(Loss) per Weighted Average Common Share — Diluted (in usd per share)	$ 0.49	$ 1.72

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)	Mar. 31, 2020 $ / shares shares
Statement of Financial Position [Abstract]
Common stock, par or value (in usd per share) \| $ / shares	$ 0.01
Common stock, shares authorized (in shares)	500,000,000
Common stock, shares issued (in shares)	422,979,893
Common stock, shares outstanding (in shares)	245,623,854
Treasury stock, shares (in shares)	177,356,039

Discontinued Operations and Dispositions - Discontinued Operations Narrative (Details) $ in Millions		3 Months Ended
	Feb. 06, 2018 USD ($) extension	Mar. 31, 2020 USD ($) MW	Mar. 31, 2019 USD ($)	Dec. 31, 2019 USD ($)	Feb. 04, 2019 USD ($) MW
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Generation capacity (in MW) \| MW		23,000
South Central Portfolio \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration					$ 1,000
Generation capacity (in MW) \| MW					1,153
Carlsbad Energy Holdings LLC \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration	$ 385
Percentage of ownership sold	100.00%
Lease and easement agreement, number of extensions \| extension	2
Lease renewal term	10 years
Additional commitments related to project		$ 23		$ 23
Other \| Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from other asset sales		$ 7	$ 10

Changes in Capital Structure - Changes in NRG's common stock issued and outstanding (Details) - shares	1 Months Ended		3 Months Ended	4 Months Ended
	May 07, 2020	Apr. 30, 2020	Mar. 31, 2020	May 07, 2020
Schedule of Stock by Class, Equity [Roll Forward]
Balance as of beginning of period (in shares)	422,979,893	422,979,893	421,890,790	421,890,790
Treasury shares, balance as of beginning of period (in shares)	(177,356,039)	(177,356,039)	(172,894,601)	(172,894,601)
Outstanding, as of beginning of period (in shares)	245,623,854	245,623,854	248,996,189	248,996,189
Shares issued under LTIPs (in shares)			1,089,103
Shares repurchased (in shares)			(4,461,438)
Balance as of end of period (in shares)			422,979,893
Treasury shares, balance as of end of the period (in shares)			(177,356,039)
Outstanding, as of end of period (in shares)			245,623,854
Subsequent Event
Schedule of Stock by Class, Equity [Roll Forward]
Shares issued under LTIPs (in shares)	1,096
Stock issued under ESPP (in shares)		63,455
Shares repurchased (in shares)	(1,601,345)
Outstanding, as of end of period (in shares)	244,087,060			244,087,060
Common Stock
Schedule of Stock by Class, Equity [Roll Forward]
Balance as of beginning of period (in shares)	422,979,893	422,979,893	421,890,790	421,890,790
Shares issued under LTIPs (in shares)			1,089,103
Shares repurchased (in shares)			0
Balance as of end of period (in shares)			422,979,893
Common Stock \| Subsequent Event
Schedule of Stock by Class, Equity [Roll Forward]
Shares issued under LTIPs (in shares)	1,096
Shares repurchased (in shares)	0
Balance as of end of period (in shares)	422,980,989			422,980,989
Treasury
Schedule of Stock by Class, Equity [Roll Forward]
Treasury shares, balance as of beginning of period (in shares)	(177,356,039)	(177,356,039)	(172,894,601)	(172,894,601)
Shares issued under LTIPs (in shares)			0
Shares repurchased (in shares)			(4,461,438)
Treasury shares, balance as of end of the period (in shares)			(177,356,039)
Treasury \| Subsequent Event
Schedule of Stock by Class, Equity [Roll Forward]
Shares issued under LTIPs (in shares)	0
Shares repurchased (in shares)	(1,601,345)
Treasury shares, balance as of end of the period (in shares)	(178,893,929)			(178,893,929)
Capital Allocation Plan
Schedule of Stock by Class, Equity [Roll Forward]
Shares repurchased (in shares)			(5,171,501)
Capital Allocation Plan \| Subsequent Event
Schedule of Stock by Class, Equity [Roll Forward]
Shares repurchased (in shares)	(1,601,345)			(6,772,846)
ESPP \| Subsequent Event
Schedule of Stock by Class, Equity [Roll Forward]
Stock issued under ESPP (in shares)	63,455
ESPP \| Common Stock \| Subsequent Event
Schedule of Stock by Class, Equity [Roll Forward]
Stock issued under ESPP (in shares)	0
ESPP \| Treasury \| Subsequent Event
Schedule of Stock by Class, Equity [Roll Forward]
Stock issued under ESPP (in shares)	63,455

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in usd per share)	$ 0.30	$ 0.03

Impairments (Details) - Petra Nova $ in Millions	3 Months Ended
Impairments (Details) - Petra Nova $ in Millions	Mar. 31, 2020 USD ($)
Schedule of Equity Method Investments [Line Items]
Impairment losses	$ 18
Letters of credit issued	$ 12

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Effective Tax Rate
Income from continuing operations before income taxes	$ 144	$ 98
Income tax expense from continuing operations	$ 23	$ 4
Effective income tax rate	16.00%	4.10%
Uncertain Tax Benefits
Non-current tax liability for uncertain tax benefits	$ 16
Uncertain tax benefits, penalties and interest accrued	$ 2

Revenue Recognition - Performance Obligations Expected Timing of Satisfaction (Details)	Mar. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation period	1 year

Accounting for Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Accounting for Derivative Instruments and Hedging Activities

Energy-Related Commodities

As of March 31, 2020, NRG had energy-related derivative instruments extending through 2034. The Company marks these derivatives to market through the statement of operations. NRG has executed power purchase agreements extending through 2036 that qualified for the NPNS exception and were therefore exempt from fair value accounting treatment.

Interest Rate Swaps

NRG was exposed to changes in interest rates through the Company's issuance of variable rate debt. In order to manage the Company's interest rate risk, NRG entered into interest rate swap agreements. As of March 31, 2020, NRG had no interest rate derivative instruments as a result of the early termination of such contracts in connection with the repayment of the 2023 Term Loan Facility during the second quarter of 2019.

Volumetric Underlying Derivative Transactions

The following table summarizes the net notional volume buy/(sell) of NRG's open derivative transactions broken out by category, excluding those derivatives that qualified for the NPNS exception, as of March 31, 2020 and December 31, 2019. Option contracts are reflected using delta volume. Delta volume equals the notional volume of an option adjusted for the probability that the option will be in-the-money at its expiration date.


		Total Volume (In millions)
Category	Units	March 31, 2020	December 31, 2019
Emissions	Short Ton	1	3
Renewable Energy Certificates	Certificates	1	1
Coal	Short Ton	7	10
Natural Gas	MMBtu	(152)	(181)

Power	MWh	46	38
Capacity	MW/Day	(1)	(1)

Fair Value of Derivative Instruments

The following table summarizes the fair value within the derivative instrument valuation on the balance sheets:


	Fair Value
	Derivative Assets						Derivative Liabilities
(In millions)	March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019




Derivatives Not Designated as Cash Flow or Fair Value Hedges:


Commodity contracts current	$	884	$	860	$	832	$	781
Commodity contracts long-term	434		310		370		322
Total Derivatives Not Designated as Cash Flow or Fair Value Hedges	$	1,318	$	1,170	$	1,202	$	1,103

The Company has elected to present derivative assets and liabilities on the balance sheet on a trade-by-trade basis and does not offset amounts at the counterparty master agreement level. In addition, collateral received or paid on the Company's derivative assets or liabilities are recorded on a separate line item on the balance sheet. The following table summarizes the offsetting of derivatives by counterparty master agreement level and collateral received or paid:


	Gross Amounts Not Offset in the Statement of Financial Position
(In millions)	Gross Amounts of Recognized Assets / Liabilities		Derivative Instruments		Cash Collateral (Held) / Posted		Net Amount
As of March 31, 2020
Commodity contracts:
Derivative assets	$	1,318	$	(1,010)	$	(17)	$	291
Derivative liabilities	(1,202)		1,010		94		(98)
Total commodity contracts	$	116	$	—	$	77	$	193


	Gross Amounts Not Offset in the Statement of Financial Position
(In millions)	Gross Amounts of Recognized Assets / Liabilities		Derivative Instruments		Cash Collateral (Held) / Posted		Net Amount
As of December 31, 2019
Commodity contracts:
Derivative assets	$	1,170	$	(909)	$	(7)	$	254
Derivative liabilities	(1,103)		909		73		(121)
Total commodity contracts	$	67	$	—	$	66	$	133

Impact of Derivative Instruments on the Statements of Operations

Unrealized gains and losses associated with changes in the fair value of derivative instruments not accounted for as cash flow and fair value hedges are reflected in current period results of operations.

The following table summarizes the pre-tax effects of economic hedges that have not been designated as cash flow hedges or fair value hedges and trading activity on the Company's statement of operations. The effect of commodity hedges is included within operating revenues and cost of operations and the effect of interest rate hedges is included in interest expense.


(In millions)	Three months ended March 31,
Unrealized mark-to-market results	2020		2019
Reversal of previously recognized unrealized losses on settled positions related to economic hedges	$	9	$	19
Reversal of acquired loss/(gain) positions related to economic hedges	1		(2)
Net unrealized gains on open positions related to economic hedges	34		3
Total unrealized mark-to-market gains for economic hedging activities	44		20
Reversal of previously recognized unrealized (gains) on settled positions related to trading activity	(2)		(6)
Net unrealized gains on open positions related to trading activity	13		13
Total unrealized mark-to-market gains for trading activity	11		7
Total unrealized gains	$	55	$	27


	Three months ended March 31,
(In millions)	2020		2019
Unrealized gains included in operating revenues	$	7	$	27
Unrealized gains included in cost of operations	48		—
Total impact to statement of operations — energy commodities	$	55	$	27
Total impact to statement of operations — interest rate contracts	$	—	$	(9)

The reversals of acquired gain or loss positions were valued based upon the forward prices on the acquisition date. The roll-off amounts were offset by realized gains or losses at the settled prices and are reflected in operating revenue or cost of operations during the same period.

For the three months ended March 31, 2020, the $34 million unrealized gain from open economic hedge positions was primarily the result of an increase in value of forward power positions due to a decrease in West/Other power prices, as well as an increase in value of ERCOT heat rate positions due to ERCOT heat rate expansion.

For the three months ended March 31, 2019, the $3 million unrealized gain from open economic hedge positions was primarily the result of an increase in value of forward power positions due to a decrease in power prices.

Credit Risk Related Contingent Features

Certain of the Company's hedging agreements contain provisions that require the Company to post additional collateral if the counterparty determines that there has been deterioration in credit quality, generally termed “adequate assurance” under the agreements, or require the Company to post additional collateral if there were a one notch downgrade in the Company's credit rating. The collateral required for contracts with adequate assurance clauses that are in a net liability position as of March 31, 2020 was $12 million. The collateral required for contracts with credit rating contingent features that are in a net liability position as of March 31, 2020 was $25 million. The Company is also a party to certain marginable agreements under which it

has a net liability position, but the counterparty has not called for the collateral due, which was $1 million as of March 31, 2020.

See Note 5, Fair Value of Financial Instruments, for discussion regarding concentration of credit risk.

Accounting for Derivative Instruments and Hedging Activities - Offsetting of derivatives by counterparty master agreement level and collateral received (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid
Cash Collateral (Held) / Posted	$ (51)	$ (32)
Derivative liabilities	(1,202)	(1,103)
Cash Collateral Posted	200	190
Commodity contracts
Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid
Derivative assets	1,318	1,170
Derivative Instruments	(1,010)	(909)
Cash Collateral (Held) / Posted	(17)	(7)
Net Amount	291	254
Derivative liabilities	(1,202)	(1,103)
Derivative Instruments	1,010	909
Cash Collateral Posted	94	73
Net Amount	(98)	(121)
Gross Amounts of Recognized Assets / Liabilities	116	67
Derivative Instruments	0	0
Cash Collateral (Held) / Posted	77	66
Net Amount	$ 193	$ 133

Condensed Consolidating Financial Information - CONSOLIDATING BALANCE SHEETS (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 759	$ 345
Funds deposited by counterparties	51	32
Restricted cash	8	8
Accounts receivable, net	915	1,025
Inventory	372	383
Derivative instruments	884	860
Cash collateral paid in support of energy risk management activities	200	190
Prepayments and other current assets	290	245
Total current assets	3,479	3,088
Property, plant and equipment, net	2,573	2,593
Other Assets
Investment in subsidiaries	0	0
Equity investments in affiliates	350	388
Operating lease right-of-use assets, net	446	464
Goodwill	579	579
Intangible assets, net	769	789
Nuclear decommissioning trust fund	702	794
Derivative instruments	434	310
Deferred income taxes	3,265	3,286
Other non-current assets	225	240
Total other assets	6,770	6,850
Total Assets	12,822	12,531
Current Liabilities
Current portion of long-term debt	640	88
Current portion of operating lease liabilities	71	73
Accounts payable	708	722
Derivative instruments	832	781
Cash collateral received in support of energy risk management activities	51	32
Accrued expenses and other current liabilities	550	663
Total current liabilities	2,852	2,359
Other Liabilities
Long-term debt	5,807	5,803
Non-current operating lease liabilities	473	483
Nuclear decommissioning reserve	303	298
Nuclear decommissioning trust liability	390	487
Derivative instruments	370	322
Deferred income taxes	15	17
Other non-current liabilities	1,076	1,084
Total other liabilities	8,434	8,494
Total Liabilities	11,286	10,853
Redeemable noncontrolling interest in subsidiaries	0	20
Total Stockholders' Equity	1,536	1,658	$ (1,538)	$ (1,234)
Total Liabilities and Stockholders' Equity	12,822	12,531
Eliminations
Current Assets
Cash and cash equivalents	0	0
Funds deposited by counterparties	0	0
Restricted cash	0	0
Accounts receivable, net	(1,439)	(740)
Inventory	0	0
Derivative instruments	(33)	(41)
Cash collateral paid in support of energy risk management activities	0	0
Prepayments and other current assets	0	0
Total current assets	(1,472)	(781)
Property, plant and equipment, net	0	0
Other Assets
Investment in subsidiaries	(5,280)	(5,495)
Equity investments in affiliates	0	0
Operating lease right-of-use assets, net	0	0
Goodwill	0	0
Intangible assets, net	0	0
Nuclear decommissioning trust fund	0	0
Derivative instruments	(13)	(13)
Deferred income taxes	0	0
Other non-current assets	0	0
Total other assets	(5,293)	(5,508)
Total Assets	(6,765)	(6,289)
Current Liabilities
Current portion of long-term debt	0	0
Current portion of operating lease liabilities	0	0
Accounts payable	(1,439)	(740)
Derivative instruments	(33)	(41)
Cash collateral received in support of energy risk management activities	0	0
Accrued expenses and other current liabilities	0	0
Total current liabilities	(1,472)	(781)
Other Liabilities
Long-term debt	0	0
Non-current operating lease liabilities	0	0
Nuclear decommissioning reserve	0	0
Nuclear decommissioning trust liability	0	0
Derivative instruments	(13)	(13)
Deferred income taxes	0	0
Other non-current liabilities	0	0
Total other liabilities	(13)	(13)
Total Liabilities	(1,485)	(794)
Redeemable noncontrolling interest in subsidiaries		0
Total Stockholders' Equity	(5,280)	(5,495)
Total Liabilities and Stockholders' Equity	(6,765)	(6,289)
Guarantor Subsidiaries
Current Assets
Cash and cash equivalents	0	0
Funds deposited by counterparties	51	32
Restricted cash	7	5
Accounts receivable, net	1,684	1,293
Inventory	287	272
Derivative instruments	882	856
Cash collateral paid in support of energy risk management activities	197	182
Prepayments and other current assets	222	170
Total current assets	3,330	2,810
Property, plant and equipment, net	1,372	1,483
Other Assets
Investment in subsidiaries	158	710
Equity investments in affiliates	0	0
Operating lease right-of-use assets, net	79	81
Goodwill	400	359
Intangible assets, net	729	375
Nuclear decommissioning trust fund	702	794
Derivative instruments	434	308
Deferred income taxes	435	421
Other non-current assets	163	145
Total other assets	3,100	3,193
Total Assets	7,802	7,486
Current Liabilities
Current portion of long-term debt	1	0
Current portion of operating lease liabilities	20	20
Accounts payable	1,016	918
Derivative instruments	852	797
Cash collateral received in support of energy risk management activities	51	32
Accrued expenses and other current liabilities	259	280
Total current liabilities	2,199	2,047
Other Liabilities
Long-term debt	248	302
Non-current operating lease liabilities	64	64
Nuclear decommissioning reserve	303	298
Nuclear decommissioning trust liability	390	487
Derivative instruments	382	334
Deferred income taxes	0	0
Other non-current liabilities	438	399
Total other liabilities	1,825	1,884
Total Liabilities	4,024	3,931
Redeemable noncontrolling interest in subsidiaries		0
Total Stockholders' Equity	3,778	3,555
Total Liabilities and Stockholders' Equity	7,802	7,486
Non-Guarantor Subsidiaries
Current Assets
Cash and cash equivalents	19	20
Funds deposited by counterparties	0	0
Restricted cash	0	1
Accounts receivable, net	137	239
Inventory	85	111
Derivative instruments	35	45
Cash collateral paid in support of energy risk management activities	3	8
Prepayments and other current assets	8	8
Total current assets	287	432
Property, plant and equipment, net	1,046	952
Other Assets
Investment in subsidiaries	0	0
Equity investments in affiliates	350	388
Operating lease right-of-use assets, net	251	261
Goodwill	179	220
Intangible assets, net	40	414
Nuclear decommissioning trust fund	0	0
Derivative instruments	13	15
Deferred income taxes	(32)	(19)
Other non-current assets	27	30
Total other assets	828	1,309
Total Assets	2,161	2,693
Current Liabilities
Current portion of long-term debt	4	5
Current portion of operating lease liabilities	31	32
Accounts payable	125	141
Derivative instruments	13	25
Cash collateral received in support of energy risk management activities	0	0
Accrued expenses and other current liabilities	31	44
Total current liabilities	204	247
Other Liabilities
Long-term debt	24	28
Non-current operating lease liabilities	295	301
Nuclear decommissioning reserve	0	0
Nuclear decommissioning trust liability	0	0
Derivative instruments	1	1
Deferred income taxes	15	17
Other non-current liabilities	120	153
Total other liabilities	455	500
Total Liabilities	659	747
Redeemable noncontrolling interest in subsidiaries		20
Total Stockholders' Equity	1,502	1,926
Total Liabilities and Stockholders' Equity	2,161	2,693
NRG Energy, Inc. (Note Issuer)
Current Assets
Cash and cash equivalents	740	325
Funds deposited by counterparties	0	0
Restricted cash	1	2
Accounts receivable, net	533	233
Inventory	0	0
Derivative instruments	0	0
Cash collateral paid in support of energy risk management activities	0	0
Prepayments and other current assets	60	67
Total current assets	1,334	627
Property, plant and equipment, net	155	158
Other Assets
Investment in subsidiaries	5,122	4,785
Equity investments in affiliates	0	0
Operating lease right-of-use assets, net	116	122
Goodwill	0	0
Intangible assets, net	0	0
Nuclear decommissioning trust fund	0	0
Derivative instruments	0	0
Deferred income taxes	2,862	2,884
Other non-current assets	35	65
Total other assets	8,135	7,856
Total Assets	9,624	8,641
Current Liabilities
Current portion of long-term debt	635	83
Current portion of operating lease liabilities	20	21
Accounts payable	1,006	403
Derivative instruments	0	0
Cash collateral received in support of energy risk management activities	0	0
Accrued expenses and other current liabilities	260	339
Total current liabilities	1,921	846
Other Liabilities
Long-term debt	5,535	5,473
Non-current operating lease liabilities	114	118
Nuclear decommissioning reserve	0	0
Nuclear decommissioning trust liability	0	0
Derivative instruments	0	0
Deferred income taxes	0	0
Other non-current liabilities	518	532
Total other liabilities	6,167	6,123
Total Liabilities	8,088	6,969
Redeemable noncontrolling interest in subsidiaries		0
Total Stockholders' Equity	1,536	1,672
Total Liabilities and Stockholders' Equity	$ 9,624	$ 8,641

Condensed Consolidating Financial Information - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt amount	$ 6,592	$ 6,042
Recourse Debt
Debt Instrument [Line Items]
Debt amount	6,560	$ 6,008
Senior Notes \| Recourse Debt
Debt Instrument [Line Items]
Debt amount	4,400
Senior Secured First Lien Notes \| Recourse Debt
Debt Instrument [Line Items]
Debt amount	$ 1,100

Discontinued Operations and Dispositions - Summarized Results of Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from discontinued operations, net of tax	$ 0	$ 388
Discontinued Operations, Disposed of by Sale \| South Central Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating revenues		31
Operating costs and expenses		(23)
Gain from operations of discontinued components		8
Gain on disposal of discontinued operations, net of tax		27
Gain from discontinued operations, net of tax		35
Discontinued Operations, Disposed of by Sale \| Carlsbad Energy Holdings LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating revenues		19
Operating costs and expenses		(9)
Other expense		(5)
Gain from operations of discontinued components		5
Gain on disposal of discontinued operations, net of tax		348
Gain from discontinued operations, net of tax		$ 353

Long-term Debt - Recourse Debt (Details) - USD ($)	May 07, 2020	Mar. 31, 2020	Mar. 11, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt amount		$ 6,592,000,000		$ 6,042,000,000
Line of Credit \| Revolver Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt amount		635,000,000		83,000,000
Line of Credit \| Revolver Facility \| Revolving Credit Facility \| Subsequent Event
Debt Instrument [Line Items]
Debt amount	$ 250,000,000
Recourse Debt
Debt Instrument [Line Items]
Debt amount		6,560,000,000		6,008,000,000
Recourse Debt \| Tax-exempt bonds
Debt Instrument [Line Items]
Debt amount		$ 466,000,000		$ 466,000,000
Debt issuance amount			$ 59,000,000
Recourse Debt \| Dunkirk Power LLC Tax Exempt Bonds Due 2042
Debt Instrument [Line Items]
Interest rate, stated percentage		5.875%

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments First Lien Structure NRG has granted first liens to certain counterparties on a substantial portion of property and assets owned by NRG and the guarantors of its senior debt. NRG uses the first lien structure to reduce the amount of cash collateral and letters of credit that it would otherwise be required to post from time to time to support its obligations under out-of-the-money hedge agreements for forward sales of power or gas used as a proxy for power. To the extent that the underlying hedge positions for a counterparty are out-of-the-money to NRG, the counterparties would have a claim under the first lien program. As of March 31, 2020, all hedges under the first lien were in-the-money for NRG on a counterparty aggregate basis. Jewett Mine Lignite Contract The Company's Limestone facility historically burned lignite obtained from the Jewett mine, which was operated by Texas Westmoreland Coal Co., or TWCC. On or about March 15, 2019, the Jewett mine and related lignite supply agreement with NRG were acquired by Westmoreland Mining LLC pursuant to a plan of reorganization confirmed by the U.S. Bankruptcy Court for the Southern District of Texas. Active mining under the lignite supply agreement ceased as of December 31, 2016; however, under the terms of the lignite supply agreement, the mine operator remains responsible for undertaking reclamation activities and NRG is responsible for reclamation costs. NRG has recorded an adequate ARO liability. The Railroad Commission of Texas has imposed a bond obligation of approximately $99 million for the reclamation of the Jewett mine, which NRG supports through surety bonds. The cost of the reclamation may exceed the value of the bonds. Additionally, the lignite supply agreement obligates NRG to provide additional performance assurance if required by the Railroad Commission of Texas. Contingencies The Company's material legal proceedings are described below. The Company believes that it has valid defenses to these legal proceedings and intends to defend them vigorously. NRG records accruals for estimated losses from contingencies when information available indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated. As applicable, the Company has established an adequate accrual for the applicable legal matters, including regulatory and environmental matters as further discussed in Note 17, Regulatory Matters, and Note 18, Environmental Matters. In addition, legal costs are expensed as incurred. Management has assessed each of the following matters based on current information and made a judgment concerning its potential outcome, considering the nature of the claim, the amount and nature of damages sought, and the probability of success. Unless specified below, the Company is unable to predict the outcome of these legal proceedings or reasonably estimate the scope or amount of any associated costs and potential liabilities. As additional information becomes available, management adjusts its assessment and estimates of such contingencies accordingly. Because litigation is subject to inherent uncertainties and unfavorable rulings or developments, it is possible that the ultimate resolution of the Company's liabilities and contingencies could be at amounts that are different from its currently recorded accruals and that such difference could be material. In addition to the legal proceedings noted below, NRG and its subsidiaries are party to other litigation or legal proceedings arising in the ordinary course of business. In management's opinion, the disposition of these ordinary course matters will not materially adversely affect NRG's consolidated financial position, results of operations, or cash flows. Washington-St. Tammany and Claiborne Electric Cooperative v. LaGen — On June 28, 2017, plaintiffs Washington-St. Tammany Electric Cooperative, Inc. and Claiborne Electric Cooperative, Inc. filed a lawsuit against Louisiana Generating, L.L.C., or LaGen, in the United States District Court for the Middle District of Louisiana. The plaintiffs claim breach of contract against LaGen for allegedly improperly charging the plaintiffs for costs related to the installation and maintenance of certain pollution control technology. Plaintiffs seek damages for the alleged improper charges and a declaration as to which charges are proper under the contract. In February 2020, the court dismissed this lawsuit without prejudice for lack of subject matter jurisdiction. A motion to reconsider the judgement is pending with the District Court. This matter has been appealed to the United States Court of Appeals for the Fifth Circuit. On February 4, 2019, NRG sold the South Central Portfolio, including the entities subject to this litigation. However, NRG has agreed to indemnify the purchaser for certain losses suffered in connection therewith. Sierra club et al. v. Midwest Generation LLC — In 2012, several environmental groups filed a complaint against Midwest Generation with the Illinois Pollution Control Board ("IPCB") alleging violations of environmental law resulting in groundwater contamination. In June 2019, the IPCB found that Midwest Generation violated the law because it had improperly handled coal ash at four facilities in Illinois and caused or allowed coal ash constituents to impact groundwater. On September 9, 2019, Midwest Generation filed a Motion to Reconsider numerous issues, which the court granted in part and denied in part on February 6, 2020. The IPCB will hold hearings to determine the appropriate relief. Midwest Generation has been working with the Illinois EPA to address the groundwater issues since 2010. XOOM Energy Litigation — XOOM is a defendant in two purported class action lawsuits pending in Maryland and New York. The plaintiffs generally claim that they did not receive the savings they were promised in their natural gas and electricity bills. The parties in the Maryland lawsuit are briefing summary judgment and class certification. In the New York case, XOOM filed a motion to dismiss, which the court granted on September 21, 2018, later entering judgment in XOOM's favor on September 24, 2018. The plaintiffs in the New York case appealed to the U.S. Court of Appeals for the Second Circuit. On July 26, 2019, the Second Circuit reversed the judgment of the district court and remanded to the district court with instructions that plaintiffs be permitted to proceed on their proposed amended complaint. This matter was known and accrued for at the time of the acquisition.

Summary of Significant Accounting Policies - Other Balance Sheet Information (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Property, plant and equipment accumulated depreciation	$ 1,832	$ 1,752
Intangible assets accumulated amortization	$ 1,237	$ 1,262

Accounting for Derivative Instruments and Hedging Activities - Pre-tax effects of economic hedges not designated a cash flow hedges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Unrealized mark-to-market results
Reversal of previously recognized unrealized losses on settled positions related to economic hedges	$ 9	$ 19
Reversal of acquired loss/(gain) positions related to economic hedges	1	(2)
Net unrealized gains on open positions related to economic hedges	34	3
Total unrealized mark-to-market gains for economic hedging activities	44	20
Reversal of previously recognized unrealized (gains) on settled positions related to trading activity	(2)	(6)
Net unrealized gains on open positions related to trading activity	13	13
Total unrealized mark-to-market gains for trading activity	11	7
Total unrealized gains	55	27
Credit Risk Related Contingent Features
Unrealized gain (loss) from open economic hedge positions	34	3
Collateral due on net liability position that has not been called by a certain marginable agreement counterparty	1
Adequate Assurance Clauses
Credit Risk Related Contingent Features
Derivative net liability position, collateral required for contracts with credit rating contingent feature	12
Credit Rating Contingent Features
Credit Risk Related Contingent Features
Derivative net liability position, collateral required for contracts with credit rating contingent feature	25
Commodity contracts
Unrealized mark-to-market results
Total unrealized gains	55	27
Commodity contracts \| Operating revenues
Unrealized mark-to-market results
Total unrealized gains	7	27
Commodity contracts \| Cost of operations
Unrealized mark-to-market results
Total unrealized gains	48	0
Interest rate contracts
Unrealized mark-to-market results
Total unrealized gains	$ 0	$ (9)

Related Party Transactions

3 Months Ended

Mar. 31, 2020

Related Party Transactions

NRG provides services to some of its equity method investments under operations and maintenance agreements. Fees for the services under these agreements include recovery of NRG's costs of operating the plants. Certain agreements also include fees for administrative service, a base monthly fee, profit margin and/or annual incentive bonus.

The following table summarizes NRG's material related party transactions with third party affiliates:


	Three months ended March 31,
(In millions)	2020		2019
Revenues from Related Parties Included in Operating Revenues
Gladstone	$	1	$	1

Ivanpah^(a)	13		10
Midway-Sunset	1		1


Total	$	15	$	12

(a) Also includes fees under project management agreements with each project company

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 1,925	$ 1,779
Mark-to-market for economic hedging activities	44	20
Operating revenues	2,019	2,165
Lease revenue	5	5
Derivative revenue	55	27
Energy revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	124	290
Derivative revenue	53	320
Capacity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	149	156
Derivative revenue	24	18
Retail revenue \| Mass customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,378	1,313
Retail revenue \| Business Solutions customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	283	276
Total retail revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,661	1,589
Derivative revenue
Disaggregation of Revenue [Line Items]
Mark-to-market for economic hedging activities	(4)	20
Derivative revenue	89	381
Other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	89	110
Total operating revenue
Disaggregation of Revenue [Line Items]
Operating revenues	2,019	2,165
Other revenue, derivative
Disaggregation of Revenue [Line Items]
Derivative revenue	16	23
Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(2)	(3)
Operating revenues	(3)	(2)
Lease revenue	0	0
Corporate/Eliminations \| Energy revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(1)	1
Derivative revenue	(1)	0
Corporate/Eliminations \| Capacity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Derivative revenue	0	0
Corporate/Eliminations \| Retail revenue \| Mass customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(1)	(2)
Corporate/Eliminations \| Retail revenue \| Business Solutions customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Corporate/Eliminations \| Total retail revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(1)	(2)
Corporate/Eliminations \| Derivative revenue
Disaggregation of Revenue [Line Items]
Mark-to-market for economic hedging activities	1	0
Derivative revenue	(1)	0
Corporate/Eliminations \| Other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(2)	(2)
Corporate/Eliminations \| Total operating revenue
Disaggregation of Revenue [Line Items]
Operating revenues	(3)	(3)
Corporate/Eliminations \| Other revenue, derivative
Disaggregation of Revenue [Line Items]
Derivative revenue	(1)	0
Texas \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,351	1,151
Operating revenues	1,358	1,466
Lease revenue	0	0
Texas \| Operating Segments \| Energy revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	5	105
Derivative revenue	0	271
Texas \| Operating Segments \| Capacity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Derivative revenue	0	0
Texas \| Operating Segments \| Retail revenue \| Mass customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,032	995
Texas \| Operating Segments \| Retail revenue \| Business Solutions customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	260	258
Texas \| Operating Segments \| Total retail revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,292	1,253
Texas \| Operating Segments \| Derivative revenue
Disaggregation of Revenue [Line Items]
Mark-to-market for economic hedging activities	0	31
Derivative revenue	7	315
Texas \| Operating Segments \| Other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	61	77
Texas \| Operating Segments \| Total operating revenue
Disaggregation of Revenue [Line Items]
Operating revenues	1,358	1,466
Texas \| Operating Segments \| Other revenue, derivative
Disaggregation of Revenue [Line Items]
Derivative revenue	7	13
East \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	500	555
Operating revenues	539	609
Lease revenue	0	0
East \| Operating Segments \| Energy revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	45	126
Derivative revenue	35	47
East \| Operating Segments \| Capacity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	134	144
Derivative revenue	24	18
East \| Operating Segments \| Retail revenue \| Mass customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	347	320
East \| Operating Segments \| Retail revenue \| Business Solutions customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	23	18
East \| Operating Segments \| Total retail revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	370	338
East \| Operating Segments \| Derivative revenue
Disaggregation of Revenue [Line Items]
Mark-to-market for economic hedging activities	(20)	(15)
Derivative revenue	39	54
East \| Operating Segments \| Other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	10	16
East \| Operating Segments \| Total operating revenue
Disaggregation of Revenue [Line Items]
Operating revenues	539	609
East \| Operating Segments \| Other revenue, derivative
Disaggregation of Revenue [Line Items]
Derivative revenue	0	4
West/Other \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	76	76
Operating revenues	125	93
Lease revenue	5	5
West/Other \| Operating Segments \| Energy revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	75	58
Derivative revenue	19	2
West/Other \| Operating Segments \| Capacity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	15	12
Derivative revenue	0	0
West/Other \| Operating Segments \| Retail revenue \| Mass customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
West/Other \| Operating Segments \| Retail revenue \| Business Solutions customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
West/Other \| Operating Segments \| Total retail revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
West/Other \| Operating Segments \| Derivative revenue
Disaggregation of Revenue [Line Items]
Mark-to-market for economic hedging activities	15	4
Derivative revenue	44	12
West/Other \| Operating Segments \| Other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	20	19
West/Other \| Operating Segments \| Total operating revenue
Disaggregation of Revenue [Line Items]
Operating revenues	125	93
West/Other \| Operating Segments \| Other revenue, derivative
Disaggregation of Revenue [Line Items]
Derivative revenue	$ 10	$ 6

Fair Value of Financial Instruments - Assets and Liabilities Measured and Recorded at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in securities (classified within other current and non-current assets)	$ 13	$ 20
Other trust fund investments:
U.S. government and federal agency obligations	1	1
Measured using net asset value practical expedient:
Total assets	2,040	1,993
Derivative liabilities:
Derivative liabilities	1,202	1,103
Commodity contracts
Derivative assets:
Derivative assets	1,318	1,170
Derivative liabilities:
Derivative liabilities	1,202	1,103
Cash and cash equivalents
Nuclear trust fund investments:
Nuclear trust fund investments	21	17
U.S. government and federal agency obligations
Nuclear trust fund investments:
Nuclear trust fund investments	57	68
Federal agency mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	93	100
Commercial mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	33	29
Corporate debt securities
Nuclear trust fund investments:
Nuclear trust fund investments	125	109
Equity securities
Nuclear trust fund investments:
Nuclear trust fund investments	308	388
Measured using net asset value practical expedient:
Equity contracts	6	8
Foreign government fixed income securities
Nuclear trust fund investments:
Nuclear trust fund investments	5	5
Equity securities — nuclear trust fund investments
Measured using net asset value practical expedient:
Equity contracts	60	78
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in securities (classified within other current and non-current assets)	0	0
Other trust fund investments:
U.S. government and federal agency obligations	1	1
Measured using net asset value practical expedient:
Total assets	497	558
Derivative liabilities:
Derivative liabilities	193	143
Level 1 \| Commodity contracts
Derivative assets:
Derivative assets	111	84
Derivative liabilities:
Derivative liabilities	193	143
Level 1 \| Cash and cash equivalents
Nuclear trust fund investments:
Nuclear trust fund investments	21	17
Level 1 \| U.S. government and federal agency obligations
Nuclear trust fund investments:
Nuclear trust fund investments	56	68
Level 1 \| Federal agency mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 1 \| Commercial mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 1 \| Corporate debt securities
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 1 \| Equity securities
Nuclear trust fund investments:
Nuclear trust fund investments	308	388
Level 1 \| Foreign government fixed income securities
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in securities (classified within other current and non-current assets)	13	20
Other trust fund investments:
U.S. government and federal agency obligations	0	0
Measured using net asset value practical expedient:
Total assets	1,285	1,156
Derivative liabilities:
Derivative liabilities	890	805
Level 2 \| Commodity contracts
Derivative assets:
Derivative assets	1,015	893
Derivative liabilities:
Derivative liabilities	890	805
Level 2 \| Cash and cash equivalents
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 2 \| U.S. government and federal agency obligations
Nuclear trust fund investments:
Nuclear trust fund investments	1	0
Level 2 \| Federal agency mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	93	100
Level 2 \| Commercial mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	33	29
Level 2 \| Corporate debt securities
Nuclear trust fund investments:
Nuclear trust fund investments	125	109
Level 2 \| Equity securities
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 2 \| Foreign government fixed income securities
Nuclear trust fund investments:
Nuclear trust fund investments	5	5
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in securities (classified within other current and non-current assets)	0	0
Other trust fund investments:
U.S. government and federal agency obligations	0	0
Measured using net asset value practical expedient:
Total assets	192	193
Derivative liabilities:
Derivative liabilities	119	155
Level 3 \| Commodity contracts
Derivative assets:
Derivative assets	192	193
Derivative liabilities:
Derivative liabilities	119	155
Level 3 \| Cash and cash equivalents
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 3 \| U.S. government and federal agency obligations
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 3 \| Federal agency mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 3 \| Commercial mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 3 \| Corporate debt securities
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 3 \| Equity securities
Nuclear trust fund investments:
Nuclear trust fund investments	0	0
Level 3 \| Foreign government fixed income securities
Nuclear trust fund investments:
Nuclear trust fund investments	$ 0	$ 0

Fair Value of Financial Instruments - Reconciliation of Level 3 Financial Instruments (Details) - Level 3 - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		$ 39
Total (losses)/gains — realized/unrealized included in earnings		(10)
Cash received		(1)
Purchases		(2)
Transfers into Level 3		17
Transfers out of Level 3		(27)
Ending balance		16
Gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held		(12)
Debt Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		19
Total (losses)/gains — realized/unrealized included in earnings		0
Cash received		(1)
Purchases		0
Transfers into Level 3		0
Transfers out of Level 3		0
Ending balance		18
Gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held		0
Derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 38	20
Total (losses)/gains — realized/unrealized included in earnings	22	(10)
Cash received	0	0
Purchases	8	(2)
Transfers into Level 3	8	17
Transfers out of Level 3	(3)	(27)
Ending balance	73	(2)
Gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held	$ (9)	$ (12)

Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 759	$ 345
Funds deposited by counterparties	51	32
Restricted cash	8	8
Cash and cash equivalents, funds deposited by counterparties and restricted cash shown in the statement of cash flows	$ 818	$ 385	$ 885	$ 613

Nuclear Decommissioning Trust Fund - Summary of proceeds from sales of available-for-sale securities and related gains and losses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Regulated Operations [Abstract]
Realized gains	$ 2	$ 3
Realized losses	(5)	(2)
Proceeds from sale of securities	$ 112	$ 113

Changes in Capital Structure - Narrative (Details) - shares	1 Months Ended		3 Months Ended
	Apr. 30, 2020	Mar. 31, 2019	Dec. 31, 2019	Mar. 31, 2020
Capital Structure
Common stock, shares authorized (in shares)			500,000,000	500,000,000
Long-term capital allocation, target allocation, cash generated allocated to growth investments, percentage			50.00%
Long-term capital allocation, target allocation, cash generated allocated returned to shareholders, percentage			50.00%
Employee Stock Purchase Plan, minimum percentage of eligible compensation to purchase shares		1.00%
Employee Stock Purchase Plan, maximum percentage of eligible compensation		10.00%
Employee Stock Purchase Plan, exercise price as percentage of fair value		95.00%
Subsequent Event
Capital Structure
Shares issued to employee accounts (in shares)	63,455

Investments Accounted for Using the Equity Method and Variable Interest Entities, or VIEs

3 Months Ended

Mar. 31, 2020

Variable Interest Entities Disclosure [Abstract]

Investments Accounted for Using the Equity Method and Variable Interest Entities, or VIEs

Entities that are not Consolidated

NRG accounts for the Company's significant investments using the equity method of accounting. NRG's carrying value of equity investments can be impacted by a number of elements including impairments, unrealized gains and losses on derivatives and movements in foreign currency exchange rates.

PG&E Bankruptcy — Agua Caliente and two of the three Ivanpah units are party to PPAs with PG&E. Both projects have project financing with the U.S. DOE. On January 29, 2019, PG&E Corp. and primary operating subsidiary utility PG&E filed for Chapter 11 relief in the United States Bankruptcy Court for the Northern District of California (the "California Bankruptcy Court"). As a result of the bankruptcy filing, Agua Caliente and the two Ivanpah units have issued notices of events of default under their respective loan agreements. The Ivanpah project signed a forbearance agreement with the U.S. DOE on October 25, 2019. The Company's subsidiaries are working with their partners on the projects and the loan counterparties.

On September 9, 2019, PG&E filed a plan of reorganization that would assume all power purchase agreements, including those held by Agua Caliente and the two Ivanpah units. There are many conditions that must be satisfied before the PG&E plan and assumption of the power purchase agreements can become effective, including, but not limited to, formal approvals by various classes of creditors, the California Bankruptcy Court, and the CPUC. A hearing before the California Bankruptcy Court to consider whether the PG&E plan will be approved and confirmed is currently expected to occur on May 29, 2020.

NRG's maximum exposure to loss is limited to its equity investment, which was $213 million for Agua Caliente and $6 million for Ivanpah as of March 31, 2020.

Variable Interest Entities that are not consolidated

Through its consolidated subsidiary, NRG Solar Ivanpah LLC, NRG owns a 54.5% interest in Ivanpah Master Holdings LLC, the owner of the Ivanpah projects. NRG considers this investment a VIE under ASC 810 and NRG is not considered the primary beneficiary. The Company accounts for its interest under the equity method of accounting.

Variable Interest Entities that are Consolidated

The Company has a controlling financial interest in certain entities that have been identified as VIEs under ASC 810. These arrangements are primarily related to tax equity arrangements entered into with third-parties in order to finance the cost of solar energy systems under operating leases eligible for certain tax credits as further described in Note 2, Summary of Significant Accounting Policies, to the Company's 2019 Form 10-K. During the first quarter of 2020, the Company repurchased its partners' equity interest in one of the partnerships. As the Company retains control of its interest, the repurchase was recorded to equity.

The summarized financial information for the Company's consolidated VIEs consisted of the following:


(In millions)	March 31, 2020		December 31, 2019
Current assets	$	1	$	3
Net property, plant and equipment	—		71
Other long-term assets	26		27
Total assets	27		101
Current liabilities	4		4
Long-term debt	24		24


Other long-term liabilities	4		8
Total liabilities	32		36
Redeemable noncontrolling interest	—		20

Net assets less noncontrolling interest	$	(5)	$	45

Condensed Consolidating Financial Information - CONSOLIDATING STATEMENTS OF OPERATIONS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Revenues
Total operating revenues	$ 2,019	$ 2,165
Operating Costs and Expenses
Cost of operations	1,457	1,651
Depreciation and amortization	109	85
Selling, general and administrative	209	194
Reorganization costs	3	13
Development costs	3	2
Total operating costs and expenses	1,781	1,945
Gain on sale of assets	6	1
Operating Income/(Loss)	244	221
Other (Expense)/Income
Equity in earnings of consolidated subsidiaries	0	0
Equity in losses of unconsolidated affiliates	(11)	(21)
Impairment losses on investments	(18)	0
Other income, net	27	12
Interest expense	(98)	(114)
Total other income/(expense)	(100)	(123)
Income from Continuing Operations Before Income Taxes	144	98
Income tax expense	23	4
Income from Continuing Operations	121	94
Income from discontinued operations, net of income tax	0	388
Net Income (Loss)	121	482
Eliminations
Operating Revenues
Total operating revenues	(11)	1
Operating Costs and Expenses
Cost of operations	(11)	1
Depreciation and amortization	0	0
Selling, general and administrative	0	0
Reorganization costs	0	0
Development costs	0	0
Total operating costs and expenses	(11)	1
Gain on sale of assets	0	0
Operating Income/(Loss)	0	0
Other (Expense)/Income
Equity in earnings of consolidated subsidiaries	(265)	(309)
Equity in losses of unconsolidated affiliates	0	0
Impairment losses on investments	0
Other income, net	0	0
Interest expense	0	0
Total other income/(expense)	(265)	(309)
Income from Continuing Operations Before Income Taxes	(265)	(309)
Income tax expense	0	0
Income from Continuing Operations		(309)
Income from discontinued operations, net of income tax		0
Net Income (Loss)	(265)	(309)
Guarantor Subsidiaries
Operating Revenues
Total operating revenues	1,778	1,769
Operating Costs and Expenses
Cost of operations	1,290	1,358
Depreciation and amortization	80	54
Selling, general and administrative	140	122
Reorganization costs	0	0
Development costs	0	0
Total operating costs and expenses	1,510	1,534
Gain on sale of assets	0	1
Operating Income/(Loss)	268	236
Other (Expense)/Income
Equity in earnings of consolidated subsidiaries	3	10
Equity in losses of unconsolidated affiliates	0	0
Impairment losses on investments	0
Other income, net	3	4
Interest expense	(5)	(4)
Total other income/(expense)	1	10
Income from Continuing Operations Before Income Taxes	269	246
Income tax expense	0	0
Income from Continuing Operations		246
Income from discontinued operations, net of income tax		9
Net Income (Loss)	269	255
Non-Guarantor Subsidiaries
Operating Revenues
Total operating revenues	252	395
Operating Costs and Expenses
Cost of operations	202	283
Depreciation and amortization	19	23
Selling, general and administrative	5	16
Reorganization costs	0	0
Development costs	0	0
Total operating costs and expenses	226	322
Gain on sale of assets	1	0
Operating Income/(Loss)	27	73
Other (Expense)/Income
Equity in earnings of consolidated subsidiaries	0	0
Equity in losses of unconsolidated affiliates	(11)	(21)
Impairment losses on investments	(18)
Other income, net	(1)	1
Interest expense	(1)	(4)
Total other income/(expense)	(31)	(24)
Income from Continuing Operations Before Income Taxes	(4)	49
Income tax expense	0	0
Income from Continuing Operations		49
Income from discontinued operations, net of income tax		5
Net Income (Loss)	(4)	54
NRG Energy, Inc. (Note Issuer)
Operating Revenues
Total operating revenues	0	0
Operating Costs and Expenses
Cost of operations	(24)	9
Depreciation and amortization	10	8
Selling, general and administrative	64	56
Reorganization costs	3	13
Development costs	3	2
Total operating costs and expenses	56	88
Gain on sale of assets	5	0
Operating Income/(Loss)	(51)	(88)
Other (Expense)/Income
Equity in earnings of consolidated subsidiaries	262	299
Equity in losses of unconsolidated affiliates	0	0
Impairment losses on investments	0
Other income, net	25	7
Interest expense	(92)	(106)
Total other income/(expense)	195	200
Income from Continuing Operations Before Income Taxes	144	112
Income tax expense	23	4
Income from Continuing Operations		108
Income from discontinued operations, net of income tax		374
Net Income (Loss)	$ 121	$ 482

Label	Element	Value
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Amount	us-gaap_RevenueRemainingPerformanceObligation	$ 305,000,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Amount	us-gaap_RevenueRemainingPerformanceObligation	607,000,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Amount	us-gaap_RevenueRemainingPerformanceObligation	42,000,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Amount	us-gaap_RevenueRemainingPerformanceObligation	8,000,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Amount	us-gaap_RevenueRemainingPerformanceObligation	$ 442,000,000

Summary of Significant Accounting Policies - Pension Plan Contributions (Details) $ in Millions	Mar. 31, 2020 USD ($)
Accounting Policies [Abstract]
Pension plan employer contributions deferred until 2021	$ 47

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair Value of Financial Instruments For cash and cash equivalents, funds deposited by counterparties, accounts and other receivables, accounts payable, restricted cash, and cash collateral posted and received in support of energy risk management activities, the carrying amounts approximate fair values because of the short-term maturity of those instruments and are classified as Level 1 within the fair value hierarchy.

The estimated carrying amounts and fair values of NRG's recorded financial instruments not carried at fair market value are as follows:


	March 31, 2020						December 31, 2019
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value

Assets:
Notes receivable	$	10	$	7	$	11	$	8
Liabilities:
Long-term debt, including current portion^(a)	6,510		6,634		5,956		6,504

(a) Excludes deferred financing costs, which are recorded as a reduction to long-term debt in the Company's consolidated balance sheets

The fair value of the Company's publicly-traded long-term debt is based on quoted market prices and is classified as Level 2 within the fair value hierarchy. The fair value of debt securities, non-publicly traded long-term debt and certain notes receivable of the Company are based on expected future cash flows discounted at market interest rates or current interest rates for similar instruments with equivalent credit quality and are classified as Level 3 within the fair value hierarchy. The following table presents the level within the fair value hierarchy for long-term debt, including current portion, as of March 31, 2020 and December 31, 2019:


	March 31, 2020						December 31, 2019
(In millions)	Level 2		Level 3		Level 2		Level 3
Long-term debt, including current portion	$	5,967	$	667	$	6,388	$	116

Recurring Fair Value Measurements

Debt securities, equity securities, and trust fund investments, which are comprised of various U.S. debt and equity securities, and derivative assets and liabilities, are carried at fair market value.

The following tables present assets and liabilities measured and recorded at fair value on the Company's condensed consolidated balance sheets on a recurring basis and their level within the fair value hierarchy:


	March 31, 2020

(In millions)	Total		Level 1		Level 2		Level 3
Investments in securities (classified within other current and non-current assets)	$	13	$	—	$	13	$	—

Nuclear trust fund investments:
Cash and cash equivalents	21		21		—		—
U.S. government and federal agency obligations	57		56		1		—
Federal agency mortgage-backed securities	93		—		93		—
Commercial mortgage-backed securities	33		—		33		—
Corporate debt securities	125		—		125		—
Equity securities	308		308		—		—
Foreign government fixed income securities	5		—		5		—
Other trust fund investments:
U.S. government and federal agency obligations	1		1		—		—
Derivative assets:
Commodity contracts	1,318		111		1,015		192


Measured using net asset value practical expedient:
Equity securities — nuclear trust fund investments	60
Equity securities	6
Total assets	$	2,040	$	497	$	1,285	$	192
Derivative liabilities:
Commodity contracts	$	1,202	$	193	$	890	$	119

Total liabilities	$	1,202	$	193	$	890	$	119


	December 31, 2019

(In millions)	Total		Level 1		Level 2		Level 3
Investments in securities (classified within other current and non-current assets)	$	20	$	—	$	20	$	—
Nuclear trust fund investments:
Cash and cash equivalents	17		17		—		—
U.S. government and federal agency obligations	68		68		—		—
Federal agency mortgage-backed securities	100		—		100		—
Commercial mortgage-backed securities	29		—		29		—
Corporate debt securities	109		—		109		—
Equity securities	388		388		—		—
Foreign government fixed income securities	5		—		5		—
Other trust fund investments:
U.S. government and federal agency obligations	1		1		—		—
Derivative assets:
Commodity contracts	1,170		84		893		193


Measured using net asset value practical expedient:
Equity securities — nuclear trust fund investments	78
Equity securities	8
Total assets	$	1,993	$	558	$	1,156	$	193
Derivative liabilities:
Commodity contracts	$	1,103	$	143	$	805	$	155

Total liabilities	$	1,103	$	143	$	805	$	155

The following table reconciles, for the three months ended March 31, 2020 and 2019, the beginning and ending balances for financial instruments that are recognized at fair value in the condensed consolidated financial statements, using significant unobservable inputs:


	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
	Three months ended March 31, 2020		Three months ended March 31, 2019
(In millions)	Derivatives^(a)		Debt Securities		Derivatives^(a)		Total
Beginning balance	$	38	$	19	$	20	$	39


Total gains/(losses) realized/unrealized— included in earnings	22		—		(10)		(10)

Cash received	—		(1)		—		(1)
Purchases	8		—		(2)		(2)
Transfers into Level 3^(b)	8		—		17		17
Transfers out of Level 3^(b)	(3)		—		(27)		(27)
Ending balance	$	73	$	18	$	(2)	$	16
(Losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of period end	$	(9)	$	—	$	(12)	$	(12)

(a)Consists of derivative assets and liabilities, net

(b)Transfers into/out of Level 3 are related to the availability of external broker quotes and are valued as of the end of the reporting period. All transfers in/out are with Level 2

Derivative Fair Value Measurements

A portion of NRG's contracts are exchange-traded contracts with readily available quoted market prices. A majority of NRG's contracts are non-exchange-traded contracts valued using prices provided by external sources, primarily price quotations available through brokers or over-the-counter and on-line exchanges. The remainder of the assets and liabilities represent contracts for which external sources or observable market quotes are not available. These contracts are valued based on various valuation techniques including, but not limited to, internal models based on a fundamental analysis of the market and extrapolation of the observable market data with similar characteristics. As of March 31, 2020, contracts valued with prices provided by models and other valuation techniques make up 15% of derivative assets and 10% of derivative liabilities.

NRG's significant positions classified as Level 3 include physical and financial power executed in illiquid markets, as well as financial transmission rights, or FTRs. The significant unobservable inputs used in developing fair value include illiquid power location pricing, which is derived as a basis to liquid locations. The basis spread is based on observable market data when available or derived from historic prices and forward market prices from similar observable markets when not available. For FTRs, NRG uses the most recent auction prices to derive the fair value.

The following tables quantify the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of March 31, 2020 and December 31, 2019:



	March 31, 2020
	Fair Value										Input/Range
(In millions)	Assets		Liabilities		Valuation Technique	Significant Unobservable Input	Low		High		Weighted Average
Power Contracts	$	150	$	107	Discounted Cash Flow	Forward Market Price (per MWh)	$	6	$	165	$	25

FTRs	42		12		Discounted Cash Flow	Auction Prices (per MWh)	(380)		91		0
	$	192	$	119



	December 31, 2019
	Fair Value										Input/Range
(In millions)	Assets		Liabilities		Valuation Technique	Significant Unobservable Input	Low		High		Weighted Average
Power Contracts	$	151	$	139	Discounted Cash Flow	Forward Market Price (per MWh)	$	8	$	218	$	24

FTRs	42		16		Discounted Cash Flow	Auction Prices (per MWh)	(105)		213		0
	$	193	$	155

The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of March 31, 2020 and December 31, 2019:

Significant Unobservable Input

Position

Change In Input

Impact on Fair Value Measurement

Forward Market Price Power

Buy

Increase/(Decrease)

Higher/(Lower)

Forward Market Price Power

Sell

Increase/(Decrease)

Lower/(Higher)

FTR Prices

Buy

Increase/(Decrease)

Higher/(Lower)

FTR Prices

Sell

Increase/(Decrease)

Lower/(Higher)

The fair value of each contract is discounted using a risk-free interest rate. In addition, the Company applies a credit reserve to reflect credit risk, which is calculated based on published default probabilities. As of March 31, 2020, the credit reserve resulted in a $2 million decrease in operating revenue and cost of operations. As of December 31, 2019, the credit reserve did not result in a significant change in fair value in operating revenue and cost of operations.

Concentration of Credit Risk

In addition to the credit risk discussion as disclosed in Note 2, Summary of Significant Accounting Policies, to the Company's 2019 Form 10-K, the following is a discussion of the concentration of credit risk for the Company's contractual obligations. Credit risk relates to the risk of loss resulting from non-performance or non-payment by counterparties pursuant to the terms of their contractual obligations. NRG is exposed to counterparty credit risk through various activities including wholesale sales, fuel purchases and retail supply arrangements, as well as retail customer credit risk through its retail load activities.

Counterparty Credit Risk

The Company's counterparty credit risk policies are disclosed in its 2019 Form 10-K. As of March 31, 2020, counterparty credit exposure, excluding credit exposure from RTOs, ISOs, registered commodity exchanges and certain long-term agreements, was $346 million and NRG held collateral (cash and letters of credit) against those positions of $54 million, resulting in a net exposure of $293 million. NRG periodically receives collateral from counterparties in excess of their exposure. Collateral amounts shown include such excess while net exposure shown excludes excess collateral received. Approximately 54% of the Company's exposure before collateral is expected to roll off by the end of 2021. Counterparty credit exposure is valued through observable market quotes and discounted at a risk free interest rate. The following tables highlight net counterparty credit exposure by industry sector and by counterparty credit quality. Net counterparty credit exposure is defined as the aggregate net asset position for NRG with counterparties where netting is permitted under the enabling agreement and includes all cash flow, mark-to-market and NPNS, and non-derivative transactions. The exposure is shown net of collateral held and includes amounts net of receivables or payables.


	Net Exposure^(a)(b)
Category by Industry Sector	(% of Total)

Utilities, energy merchants, marketers and other	81	%
Financial institutions	19

Total as of March 31, 2020	100	%


	Net Exposure ^(a)(b)
Category by Counterparty Credit Quality	(% of Total)
Investment grade	53	%
Non-investment grade/non-rated	47
Total as of March 31, 2020	100	%

(a)Counterparty credit exposure excludes uranium and coal transportation contracts because of the unavailability of market prices

(b)The figures in the tables above exclude potential counterparty credit exposure related to RTOs, ISOs, registered commodity exchanges and certain long-term contracts

The Company currently has $47 million of exposure to one wholesale counterparty in excess of 10% of total net exposure discussed above as of March 31, 2020. Changes in hedge positions and market prices will affect credit exposure and counterparty concentration. Given the credit quality, diversification and term of the exposure in the portfolio, NRG does not anticipate a material impact on its financial position or results of operations from nonperformance by any of NRG's counterparties.

RTOs and ISOs

The Company participates in the organized markets of CAISO, ERCOT, ISO-NE, MISO, NYISO and PJM, known as RTOs or ISOs. Trading in these markets is approved by FERC, or in the case of ERCOT, approved by the PUCT, and includes credit policies that, under certain circumstances, require that losses arising from the default of one member on spot market transactions be shared by the remaining participants. As a result, the counterparty credit risk to these markets is limited to NRG’s share of the overall market and are excluded from the above exposures.

Exchange Traded Transactions

The Company enters into commodity transactions on registered exchanges, notably ICE, NYMEX and Nodal. These clearinghouses act as the counterparty and transactions are subject to extensive collateral and margining requirements. As a result, these commodity transactions have limited counterparty credit risk.

Long-Term Contracts

Counterparty credit exposure described above excludes credit risk exposure under certain long-term contracts, primarily solar PPAs. As external sources or observable market quotes are not available to estimate such exposure, the Company values these contracts based on various techniques including, but not limited to, internal models based on a fundamental analysis of the market and extrapolation of observable market data with similar characteristics. Based on these valuation techniques, as of March 31, 2020, aggregate credit risk exposure managed by NRG to these counterparties was approximately $689 million for the next five years, including exposure to PG&E through its unconsolidated affiliates, Ivanpah and Agua Caliente.

Retail Customer Credit Risk

The Company is exposed to retail credit risk through the Company's retail electricity providers, which serve C&I customers and the Mass market. Retail credit risk results in losses when a customer fails to pay for services rendered. The losses may result from both non-payment of customer accounts receivable and the loss of in-the-money forward value. The Company manages retail credit risk through the use of established credit policies that include monitoring of the portfolio and the use of credit mitigation measures such as deposits or prepayment arrangements.

As of March 31, 2020, the Company's retail customer credit exposure to C&I and Mass customers was diversified across many customers and various industries, as well as government entities. The Company is also subject to risk with respect to its residential solar customers. Current economic conditions may affect the Company's customers' ability to pay bills in a timely manner, which could increase customer delinquencies and may lead to an increase in credit losses.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2020 case	Dec. 31, 2018 facility	Aug. 18, 2016 USD ($)
Sierra Club Et Al V. Midwest Generation LLC
Loss Contingencies
Number of facilities \| facility		4
XOOM Energy Litigation
Loss Contingencies
Pending lawsuits \| case	2
Lignite Contract With Texas Westmoreland Coal Co.
Loss Contingencies
Bond obligation \| $			$ 99

Segment Reporting

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Reporting

As part of perfecting the integrated model, in which the majority of the Company’s generation serves its retail customers, the Company began managing its operations based on the combined results of the retail and wholesale generation businesses with a geographical focus in 2020. As a result, the Company changed its business segments from Retail and Generation to Texas, East and West/Other beginning in the first quarter of 2020, as further described in Note 1, Nature of Business. The Company's updated segment structure reflects how management currently makes financial decisions and allocates resources The financial information for the three months ended March 31, 2019 was recast to reflect the current segment structure.

In February 2019, as described in Note 4, Discontinued Operations and Dispositions, the Company completed the sales of the South Central Portfolio and Carlsbad. The financial information for the three months ended March 31, 2019 presented below reflects the presentation of these entities as discontinued operations within the corporate segment.

NRG’s chief operating decision maker, its chief executive officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, free cash flow and allocation of capital, as well as net income/(loss).


	Three months ended March 31, 2020
(In millions)	Texas		East		West/Other		Corporate		Eliminations		Total
Operating revenues	$	1,358	$	539	$	125	$	—	$	(3)	$	2,019
Depreciation and amortization	59		33		8		9		—		109

Reorganization costs	1		—		—		2		—		3
Gain on sale of assets	—		—		1		5		—		6
Equity in losses of unconsolidated affiliates	—		—		(11)		—		—		(11)

Income/(loss) from continuing operations before income taxes	162		24		41		(82)		(1)		144



Net income/(loss)	$	162	$	24	$	41	$	(105)	$	(1)	$	121


	Three months ended March 31, 2019
(In millions)	Texas		East		West/Other		Corporate		Eliminations		Total
Operating revenues	$	1,466	$	609	$	93	$	(1)	$	(2)	$	2,165
Depreciation and amortization	40		26		11		8		—		85

Reorganization costs	1		—		—		12		—		13
Gain on sale of assets	—		1		—		—		—		1
Equity in losses of unconsolidated affiliates	(3)		—		(18)		—		—		(21)


Income/(loss) from continuing operations before income taxes	150		99		(23)		(127)		(1)		98
Income/(loss) from continuing operations	150		99		(23)		(131)		(1)		94
Income from discontinued operations, net of tax	—		—		—		388		—		388

Net income/(loss)	$	150	$	99	$	(23)	$	257	$	(1)	$	482

Nuclear Decommissioning Trust Fund

3 Months Ended

Mar. 31, 2020

Regulated Operations [Abstract]

Nuclear Decommissioning Trust Fund

NRG's Nuclear Decommissioning Trust Fund assets, which are for the decommissioning of its 44% interest in STP, are comprised of securities classified as available-for-sale and recorded at fair value based on actively quoted market prices. NRG accounts for the Nuclear Decommissioning Trust Fund in accordance with ASC 980, Regulated Operations, because the Company's nuclear decommissioning activities are subject to approval by the PUCT with regulated rates that are designed to recover all decommissioning costs and that can be charged to and collected from the ratepayers per PUCT mandate. Since the Company is in compliance with PUCT rules and regulations regarding decommissioning trusts and the cost of decommissioning is the responsibility of the Texas ratepayers, not NRG, all realized and unrealized gains or losses (including other-than-temporary impairments) related to the Nuclear Decommissioning Trust Fund are recorded to the Nuclear Decommissioning Trust liability and are not included in net income or accumulated OCI, consistent with regulatory treatment.

The following table summarizes the aggregate fair values and unrealized gains and losses for the securities held in the trust funds, as well as information about the contractual maturities of those securities.


	As of March 31, 2020													As of December 31, 2019
(In millions, except maturities)	Fair Value		Unrealized Gains		Unrealized Losses		Weighted-average Maturities (In years)	Fair Value		Unrealized Gains		Unrealized Losses		Weighted-average Maturities (In years)
Cash and cash equivalents	$	21	$	—	$	—	—	$	17	$	—	$	—	—
U.S. government and federal agency obligations	57		10		—		14	68		4		—		11
Federal agency mortgage-backed securities	93		4		—		24	100		3		—		24
Commercial mortgage-backed securities	33		1		1		26	29		1		1		24
Corporate debt securities	125		5		4		12	109		6		—		11
Equity securities	368		228		1		—	466		324		—		—
Foreign government fixed income securities	5		—		—		10	5		—		—		10
Total	$	702	$	248	$	6		$	794	$	338	$	1

The following table summarizes proceeds from sales of available-for-sale securities held in the trust funds and the related realized gains and losses from these sales. The cost of securities sold is determined on the specific identification method.


	Three months ended March 31,
(In millions)	2020		2019
Realized gains	$	2	$	3
Realized losses	(5)		(2)
Proceeds from sale of securities	112		113

Earnings Per Share - Reconciliation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Basic income per share:
Net income available to common shareholders	$ 121	$ 482
Weighted average number of common shares outstanding — basic (in shares)	248	278
Income/(loss) per weighted average common share — basic (in usd per share)	$ 0.49	$ 1.73
Diluted income per share:
Net income available to common shareholders	$ 121	$ 482
Weighted average number of common shares outstanding - diluted (in shares)	248	278
Incremental shares attributable to the issuance of equity compensation (treasury stock method) (in shares)	1	2
Weighted average number of common shares outstanding- dilutive (in shares)	249	280
Income/(loss) per weighted average common share — diluted (in usd per share)	$ 0.49	$ 1.72

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Fair Value of Financial Instruments - Estimated Carrying Amounts and Fair Value of Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Long-term debt, including current portion	$ 6,592	$ 6,042
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Notes receivable	10	11
Long-term debt, including current portion	6,510	5,956
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Notes receivable	7	8
Long-term debt, including current portion	6,634	6,504
Fair Value \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Long-term debt, including current portion	5,967	6,388
Fair Value \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Long-term debt, including current portion	$ 667	$ 116

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Schedule of segment reporting information, by segment


	Three months ended March 31, 2020
(In millions)	Texas		East		West/Other		Corporate		Eliminations		Total
Operating revenues	$	1,358	$	539	$	125	$	—	$	(3)	$	2,019
Depreciation and amortization	59		33		8		9		—		109

Reorganization costs	1		—		—		2		—		3
Gain on sale of assets	—		—		1		5		—		6
Equity in losses of unconsolidated affiliates	—		—		(11)		—		—		(11)

Income/(loss) from continuing operations before income taxes	162		24		41		(82)		(1)		144



Net income/(loss)	$	162	$	24	$	41	$	(105)	$	(1)	$	121


	Three months ended March 31, 2019
(In millions)	Texas		East		West/Other		Corporate		Eliminations		Total
Operating revenues	$	1,466	$	609	$	93	$	(1)	$	(2)	$	2,165
Depreciation and amortization	40		26		11		8		—		85

Reorganization costs	1		—		—		12		—		13
Gain on sale of assets	—		1		—		—		—		1
Equity in losses of unconsolidated affiliates	(3)		—		(18)		—		—		(21)


Income/(loss) from continuing operations before income taxes	150		99		(23)		(127)		(1)		98
Income/(loss) from continuing operations	150		99		(23)		(131)		(1)		94
Income from discontinued operations, net of tax	—		—		—		388		—		388

Net income/(loss)	$	150	$	99	$	(23)	$	257	$	(1)	$	482

Accounting for Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Net notional volume buy/(sell) of NRG's open derivative transactions broken out by commodity


		Total Volume (In millions)
Category	Units	March 31, 2020	December 31, 2019
Emissions	Short Ton	1	3
Renewable Energy Certificates	Certificates	1	1
Coal	Short Ton	7	10
Natural Gas	MMBtu	(152)	(181)

Power	MWh	46	38
Capacity	MW/Day	(1)	(1)

Fair value within the derivative instrument valuation on the balance sheets

The following table summarizes the fair value within the derivative instrument valuation on the balance sheets:


	Fair Value
	Derivative Assets						Derivative Liabilities
(In millions)	March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019




Derivatives Not Designated as Cash Flow or Fair Value Hedges:


Commodity contracts current	$	884	$	860	$	832	$	781
Commodity contracts long-term	434		310		370		322
Total Derivatives Not Designated as Cash Flow or Fair Value Hedges	$	1,318	$	1,170	$	1,202	$	1,103

Offsetting of derivatives by counterparty assets

The following table summarizes the offsetting of derivatives by counterparty master agreement level and collateral received or paid:


	Gross Amounts Not Offset in the Statement of Financial Position
(In millions)	Gross Amounts of Recognized Assets / Liabilities		Derivative Instruments		Cash Collateral (Held) / Posted		Net Amount
As of March 31, 2020
Commodity contracts:
Derivative assets	$	1,318	$	(1,010)	$	(17)	$	291
Derivative liabilities	(1,202)		1,010		94		(98)
Total commodity contracts	$	116	$	—	$	77	$	193


	Gross Amounts Not Offset in the Statement of Financial Position
(In millions)	Gross Amounts of Recognized Assets / Liabilities		Derivative Instruments		Cash Collateral (Held) / Posted		Net Amount
As of December 31, 2019
Commodity contracts:
Derivative assets	$	1,170	$	(909)	$	(7)	$	254
Derivative liabilities	(1,103)		909		73		(121)
Total commodity contracts	$	67	$	—	$	66	$	133

Offsetting of derivatives by counterparty, liabilities

The following table summarizes the offsetting of derivatives by counterparty master agreement level and collateral received or paid:


	Gross Amounts Not Offset in the Statement of Financial Position
(In millions)	Gross Amounts of Recognized Assets / Liabilities		Derivative Instruments		Cash Collateral (Held) / Posted		Net Amount
As of March 31, 2020
Commodity contracts:
Derivative assets	$	1,318	$	(1,010)	$	(17)	$	291
Derivative liabilities	(1,202)		1,010		94		(98)
Total commodity contracts	$	116	$	—	$	77	$	193


	Gross Amounts Not Offset in the Statement of Financial Position
(In millions)	Gross Amounts of Recognized Assets / Liabilities		Derivative Instruments		Cash Collateral (Held) / Posted		Net Amount
As of December 31, 2019
Commodity contracts:
Derivative assets	$	1,170	$	(909)	$	(7)	$	254
Derivative liabilities	(1,103)		909		73		(121)
Total commodity contracts	$	67	$	—	$	66	$	133

Pre-tax effects of economic hedges that have not been designated as cash flow hedges, ineffectiveness on cash flow hedges and trading activity on the Company's statement of operations


(In millions)	Three months ended March 31,
Unrealized mark-to-market results	2020		2019
Reversal of previously recognized unrealized losses on settled positions related to economic hedges	$	9	$	19
Reversal of acquired loss/(gain) positions related to economic hedges	1		(2)
Net unrealized gains on open positions related to economic hedges	34		3
Total unrealized mark-to-market gains for economic hedging activities	44		20
Reversal of previously recognized unrealized (gains) on settled positions related to trading activity	(2)		(6)
Net unrealized gains on open positions related to trading activity	13		13
Total unrealized mark-to-market gains for trading activity	11		7
Total unrealized gains	$	55	$	27


	Three months ended March 31,
(In millions)	2020		2019
Unrealized gains included in operating revenues	$	7	$	27
Unrealized gains included in cost of operations	48		—
Total impact to statement of operations — energy commodities	$	55	$	27
Total impact to statement of operations — interest rate contracts	$	—	$	(9)

Condensed Consolidating Financial Information - CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Net Income/(Loss)	$ 121	$ 482
Other Comprehensive Loss
Foreign currency translation adjustments, net	(15)	1
Defined benefit plans, net	0	(3)
Other comprehensive income/(loss)	(15)	(2)
Comprehensive Income	106	480
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net Income/(Loss)	(265)	(309)
Other Comprehensive Loss
Foreign currency translation adjustments, net	30	(2)
Defined benefit plans, net	(2)	0
Other comprehensive income/(loss)	28	(2)
Comprehensive Income	(237)	(311)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net Income/(Loss)	269	255
Other Comprehensive Loss
Foreign currency translation adjustments, net	(15)	1
Defined benefit plans, net	2	0
Other comprehensive income/(loss)	(13)	1
Comprehensive Income	256	256
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net Income/(Loss)	(4)	54
Other Comprehensive Loss
Foreign currency translation adjustments, net	(15)	1
Defined benefit plans, net	0	0
Other comprehensive income/(loss)	(15)	1
Comprehensive Income	(19)	55
NRG Energy, Inc. (Note Issuer)
Condensed Financial Statements, Captions [Line Items]
Net Income/(Loss)	121	482
Other Comprehensive Loss
Foreign currency translation adjustments, net	(15)	1
Defined benefit plans, net	0	(3)
Other comprehensive income/(loss)	(15)	(2)
Comprehensive Income	$ 106	$ 480

Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2020

Summary of NRG's Material Related Party Transactions

The following table summarizes NRG's material related party transactions with third party affiliates:


	Three months ended March 31,
(In millions)	2020		2019
Revenues from Related Parties Included in Operating Revenues
Gladstone	$	1	$	1

Ivanpah^(a)	13		10
Midway-Sunset	1		1


Total	$	15	$	12

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2020	May 07, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-15891
Entity Registrant Name	NRG Energy, Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-1724239
Entity Address, Address Line One	804 Carnegie Center,
Entity Address, City or Town	Princeton
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08540
City Area Code	609
Local Phone Number	524-4500
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	NRG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		244,087,060
Entity Central Index Key	0001013871
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1

Discontinued Operations and Dispositions (Tables)

3 Months Ended

Mar. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Summary of Results of Discontinued Operations

Summarized results of the South Central Portfolio discontinued operations were as follows:


	Three months ended
(In millions)		March 31, 2019
Operating revenues		$	31
Operating costs and expenses		(23)




Gain from operations of discontinued components		8
Gain on disposal of discontinued operations, net of tax		27
Gain from discontinued operations, including disposal, net of tax		$	35

Summarized results of Carlsbad discontinued operations were as follows:


	Three months ended
(In millions)		March 31, 2019
Operating revenues		$	19
Operating costs and expenses		(9)
Other expenses		(5)
Gain from operations of discontinued components		5


Gain on disposal of discontinued operations, net of tax		348



Gain from discontinued operations, including disposal, net of tax		$	353

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Basic income per common share is computed by dividing net income by the weighted average number of common shares outstanding. Shares issued and treasury shares repurchased during the year are weighted for the portion of the year that they were outstanding. Diluted income per share is computed in a manner consistent with that of basic income per share while giving effect to all potentially dilutive common shares that were outstanding during the period. The outstanding non-qualified stock options, non-vested restricted stock units, market stock units, and relative performance stock units are not considered outstanding for purposes of computing basic income per share. However, these instruments are included in the denominator for purposes of computing diluted income per share under the treasury stock method. The 2048 Convertible Senior Notes are convertible, under certain circumstances, into the Company’s common stock, cash or combination thereof (at NRG's option). There is no dilutive effect for the 2048 Convertible Senior Notes due to the Company’s expectation to settle the liability in cash.

The reconciliation of NRG's basic and diluted income per share is shown in the following table:


	Three months ended March 31,
(In millions, except per share data)	2020		2019
Basic income per share:
Net income available to common shareholders	$	121	$	482
Weighted average number of common shares outstanding - basic	248		278
Income per weighted average common share — basic	$	0.49	$	1.73

Diluted income per share:


Net income available to common shareholders	$	121	$	482
Weighted average number of common shares outstanding - basic	248		278
Incremental shares attributable to the issuance of equity compensation (treasury stock method)	1		2
Weighted average number of common shares outstanding - dilutive	249		280
Income per weighted average common share — diluted	$	0.49	$	1.72

As of March 31, 2020 and 2019 outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company’s diluted income per share were not significant.

Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended
Segment Reporting (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information
Operating revenues	$ 2,019	$ 2,165
Depreciation and amortization	109	85
Reorganization costs	3	13
Gain on sale of assets	6	1
Equity in losses of unconsolidated affiliates	(11)	(21)
Income/(loss) from continuing operations before income taxes	144	98
Income/(loss) from continuing operations	121	94
Income from discontinued operations, net of tax	0	388
Net (loss)/income	121	482
Eliminations
Segment Reporting Information
Operating revenues	(3)	(2)
Depreciation and amortization	0	0
Reorganization costs	0	0
Gain on sale of assets	0	0
Equity in losses of unconsolidated affiliates	0	0
Income/(loss) from continuing operations before income taxes	(1)	(1)
Income/(loss) from continuing operations		(1)
Income from discontinued operations, net of tax		0
Net (loss)/income	(1)	(1)
Texas \| Operating Segments
Segment Reporting Information
Operating revenues	1,358	1,466
Depreciation and amortization	59	40
Reorganization costs	1	1
Gain on sale of assets	0	0
Equity in losses of unconsolidated affiliates	0	(3)
Income/(loss) from continuing operations before income taxes	162	150
Income/(loss) from continuing operations		150
Income from discontinued operations, net of tax		0
Net (loss)/income	162	150
East \| Operating Segments
Segment Reporting Information
Operating revenues	539	609
Depreciation and amortization	33	26
Reorganization costs	0	0
Gain on sale of assets	0	1
Equity in losses of unconsolidated affiliates	0	0
Income/(loss) from continuing operations before income taxes	24	99
Income/(loss) from continuing operations		99
Income from discontinued operations, net of tax		0
Net (loss)/income	24	99
West/Other \| Operating Segments
Segment Reporting Information
Operating revenues	125	93
Depreciation and amortization	8	11
Reorganization costs	0	0
Gain on sale of assets	1	0
Equity in losses of unconsolidated affiliates	(11)	(18)
Income/(loss) from continuing operations before income taxes	41	(23)
Income/(loss) from continuing operations		(23)
Income from discontinued operations, net of tax		0
Net (loss)/income	41	(23)
Corporate \| Operating Segments
Segment Reporting Information
Operating revenues	0	(1)
Depreciation and amortization	9	8
Reorganization costs	2	12
Gain on sale of assets	5	0
Equity in losses of unconsolidated affiliates	0	0
Income/(loss) from continuing operations before income taxes	(82)	(127)
Income/(loss) from continuing operations		(131)
Income from discontinued operations, net of tax		388
Net (loss)/income	$ (105)	$ 257

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 121	$ 482
Other Comprehensive Loss
Foreign currency translation adjustments	(15)	1
Defined benefit plans	0	(3)
Other comprehensive income/(loss)	(15)	(2)
Comprehensive Income	$ 106	$ 480

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Millions

Total

Common Stock

Additional Paid-In Capital

Accumulated Deficit

Treasury Stock

Accumulated Other Comprehensive Loss

Beginning balance at Dec. 31, 2018

$ (1,234)

$ 4

$ 8,510

$ (6,022)

$ (3,632)

$ (94)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

482

Other comprehensive (loss) income

(2)

Share repurchases

(749)

(10)

(739)

Equity-based awards activity, net

(32)

Issuance of common stock

Common stock dividends

^[1]

(8)

Ending balance at Mar. 31, 2019

(1,538)

8,473

(5,548)

(4,371)

(96)

Beginning balance at Dec. 31, 2019

1,658

8,501

(1,616)

(5,039)

(192)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

121

Other comprehensive (loss) income

(15)

Repurchase of partners' equity interest in VIE

Share repurchases

(150)

Equity-based awards activity, net

(21)

Common stock dividends

(75)

Ending balance at Mar. 31, 2020

$ 1,536

$ 4

$ 8,498

$ (1,570)

$ (5,189)

$ (207)

[1]	Dividends per common share was $0.30 for the quarter ended March 31, 2020 and $0.03 for the quarter ended March 31, 2019

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Reconciliation of NRG's basic and diluted earnings per share

The reconciliation of NRG's basic and diluted income per share is shown in the following table:


	Three months ended March 31,
(In millions, except per share data)	2020		2019
Basic income per share:
Net income available to common shareholders	$	121	$	482
Weighted average number of common shares outstanding - basic	248		278
Income per weighted average common share — basic	$	0.49	$	1.73

Diluted income per share:


Net income available to common shareholders	$	121	$	482
Weighted average number of common shares outstanding - basic	248		278
Incremental shares attributable to the issuance of equity compensation (treasury stock method)	1		2
Weighted average number of common shares outstanding - dilutive	249		280
Income per weighted average common share — diluted	$	0.49	$	1.72

Regulatory Matters	3 Months Ended
Regulatory Matters	Mar. 31, 2020
Regulatory Matters Disclosure [Abstract]
Regulatory Matters	Regulatory Matters Environmental regulatory matters are discussed within Note 18, Environmental Matters, to this Form 10-Q. NRG operates in a highly regulated industry and is subject to regulation by various federal and state agencies. As such, NRG is affected by regulatory developments at both the federal and state levels and in the regions in which NRG operates. In addition, NRG is subject to the market rules, procedures, and protocols of the various ISO and RTO markets in which NRG participates. These power markets are subject to ongoing legislative and regulatory changes that may impact NRG's businesses. In addition to the regulatory proceedings noted below, NRG and its subsidiaries are parties to other regulatory proceedings arising in the ordinary course of business or have other regulatory exposure. In management's opinion, the disposition of these ordinary course matters will not materially adversely affect NRG's consolidated financial position, results of operations, or cash flows. California Station Power — As the result of unfavorable final and non-appealable litigation, the Company accrued a liability associated with consumption of station power at the Company's Encina power plant facility in California after August 30, 2010. The Company has established an appropriate accrual pending potential regulatory action by San Diego Gas & Electric regarding the Company's Encina facility. South Central — On August 4, 2016, NRG received a document hold notice from FERC regarding conduct in the MISO and PJM markets. It required NRG to retain communications related to multiple generating units in the South Central region. Since sending the notice, FERC has been investigating potential violations of MISO rules involving bidding for the Big Cajun 2 facility, as well as other aspects of NRG’s operations in MISO. FERC has the authority to require disgorgement of profits and to impose penalties and NRG retains any liability following the sale of the South Central Portfolio. We expect a preliminary finding from FERC in 2020. ISO-NE — On February 5, 2019, FERC has informed the Company that it has made a preliminary finding that the Company violated FERC's market behavior rules in connection with offers made into the ISO-NE Forward Capacity Auction in 2016. On April 26, 2019, NRG responded to the preliminary findings. The Company understands that FERC is concerned that the Company was inaccurate in its communications with the Market Monitor regarding the costs and risks associated with operating certain units in the forward timeframe. NRG withdrew the bids prior to the 2016 auction in the normal course of our commercial business decision making.

Nuclear Decommissioning Trust Fund (Tables)

3 Months Ended

Mar. 31, 2020

Regulated Operations [Abstract]

Summary of aggregate fair values and unrealized gains and losses (including other-than-temporary impairments) for the securities held in the nuclear decommissioning trust fund


	As of March 31, 2020													As of December 31, 2019
(In millions, except maturities)	Fair Value		Unrealized Gains		Unrealized Losses		Weighted-average Maturities (In years)	Fair Value		Unrealized Gains		Unrealized Losses		Weighted-average Maturities (In years)
Cash and cash equivalents	$	21	$	—	$	—	—	$	17	$	—	$	—	—
U.S. government and federal agency obligations	57		10		—		14	68		4		—		11
Federal agency mortgage-backed securities	93		4		—		24	100		3		—		24
Commercial mortgage-backed securities	33		1		1		26	29		1		1		24
Corporate debt securities	125		5		4		12	109		6		—		11
Equity securities	368		228		1		—	466		324		—		—
Foreign government fixed income securities	5		—		—		10	5		—		—		10
Total	$	702	$	248	$	6		$	794	$	338	$	1

Summary of proceeds from sales of available-for-sale securities and the related realized gains and losses


	Three months ended March 31,
(In millions)	2020		2019
Realized gains	$	2	$	3
Realized losses	(5)		(2)
Proceeds from sale of securities	112		113

Long-term Debt

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Debt and Finance Leases

Long-term Debt

Long-term debt consisted of the following:


(In millions, except rates)	March 31, 2020		December 31, 2019		Interest rate %
Recourse debt:
Senior Notes, due 2026	$	1,000	$	1,000	7.250
Senior Notes, due 2027	1,230		1,230		6.625
Senior Notes, due 2028	821		821		5.750
Senior Notes, due 2029	733		733		5.250
Convertible Senior Notes, due 2048	575		575		2.750
Senior Secured First Lien Notes, due 2024	600		600		3.750
Senior Secured First Lien Notes, due 2029	500		500		4.450
Revolving Credit Facility^(a)	635		83		L+ 1.750
Tax-exempt bonds	466		466		1.300 - 6.000
Subtotal recourse debt	6,560		6,008
Non-recourse debt:


Other	32		34		various
Subtotal all non-recourse debt	32		34
Subtotal long-term debt (including current maturities)	6,592		6,042




Less current maturities	(640)		(88)
Less debt issuance costs	(63)		(65)
Discounts	(82)		(86)
Total long-term debt	$	5,807	$	5,803

(a) As of March 31, 2020, the Company had drawn under its Revolving Credit Facility using a mix of 1-week LIBOR and 1-month LIBOR + 1.750

Recourse Debt

Revolving Credit Facility

The Company had $635 million and $83 million outstanding under its Revolving Credit Facility as of March 31, 2020 and December 31, 2019, respectively. Due to market conditions, primarily as a result of COVID-19, the Company drew upon the facility in the first quarter of 2020 as a precaution and to proportionally increase cash on hand. As of May 7, 2020, the Company had $250 million outstanding under its Revolving Credit Facility.

Tax-Exempt Bonds

On March 11, 2020, NRG issued $59 million in aggregate principal amount of NRG Dunkirk 2020 1.30% tax-exempt refinancing bonds due 2042 ("the Bonds"). The Bonds are guaranteed on a first-priority basis by each of NRG’s current and future subsidiaries that guarantee indebtedness under its credit agreement. The Bonds are secured by a first priority security interest in the same collateral that is pledged for the benefit of the lenders under NRG’s credit agreement, which consists of a substantial portion of the property and assets owned by NRG and the guarantors. The collateral securing the Bonds will, at the request of NRG, be released if NRG satisfies certain conditions, including receipt of an investment grade rating on its senior, unsecured debt securities from two out of the three rating agencies, subject to reversion if those rating agencies withdraw their investment grade rating of the Bonds or any of NRG’s senior, unsecured debt securities or downgrade such rating below investment grade. The Bonds are subject to mandatory tender and purchase on April 3, 2023 and have a final maturity date of April 1, 2042.

NRG used the net proceeds from the offering to redeem the existing principal amount of outstanding Dunkirk Power LLC 5.875% tax exempt bonds due 2042.

Non-Recourse Debt

Cottonwood - Letters of Credit

On January 4, 2019, the Company entered into an $80 million credit agreement to issue letters of credit, which is currently supporting the Cottonwood facility lease. Annual fees of 1.33% on the facility are paid quarterly in advance. As of March 31, 2020, the full $80 million was issued.

Environmental Matters	3 Months Ended
Environmental Matters	Mar. 31, 2020
Environmental Matters Disclosure [Abstract]
Environmental Matters	Environmental Matters NRG is subject to a wide range of environmental laws in the development, construction, ownership and operation of projects. These laws generally require that governmental permits and approvals be obtained before construction and during operation of power plants. NRG is also subject to laws regarding the protection of wildlife, including migratory birds, eagles and threatened and endangered species. The electric generation industry has been facing requirements regarding GHGs, combustion byproducts, water discharge and use, and threatened and endangered species that have been put in place in recent years. However, under the current U.S. presidential administration, some of these rules are being reconsidered and reviewed. In general, future laws are expected to require the addition of emissions controls or other environmental controls or to impose certain restrictions on the operations of the Company's facilities, which could have a material effect on the Company's consolidated financial position, results of operations, or cash flows. Federal and state environmental laws generally have become more stringent over time, although this trend could slow or pause in the near term with respect to federal laws under the current U.S. presidential administration. Air On July 8, 2019, EPA promulgated the ACE rule, which rescinded the CPP, which had sought to broadly regulate CO₂ emissions from the power sector. The ACE rule requires states that have coal-fired EGUs to develop plans to seek heat rate improvements from coal-fired EGUs. Numerous parties have challenged the ACE rule in the D.C. Circuit and numerous parties have filed petitions for reconsideration with the EPA. Water Effluent Limitations Guidelines — In November 2015, the EPA revised the Effluent Limitations Guidelines for Steam Electric Generating Facilities, which would have imposed more stringent requirements (as individual permits were renewed) for wastewater streams from FGD, fly ash, bottom ash, and flue gas mercury control. On September 18, 2017, the EPA promulgated a final rule that, among other things, postpones the compliance dates to preserve the status quo for FGD wastewater and bottom ash transport water by two years to November 2020 until the EPA completes its next rulemaking. On April 12, 2019, the United States Court of Appeals for the Fifth Circuit addressed challenges to the rule brought by several environmental groups related to legacy wastewaters and coal ash leachate and remanded portions of the rule to the EPA. On November 22, 2019, the EPA proposed amending the 2015 ELG rule by: (x) decreasing the stringency of the selenium limit (but increasing the stringency of the nitrate and mercury limits) for FGD wastewater; (y) relaxing the zero-discharge requirement for bottom ash transport water; and (z) changing several deadlines. The Company has eliminated its estimate of the environmental capital expenditures that would have been required to comply with permits incorporation the revised guidelines. The Company will revisit these estimates after the rule is revised. Byproducts, Wastes, Hazardous Materials and Contamination In April 2015, the EPA finalized the rule regulating byproducts of coal combustion (e.g., ash and gypsum) as solid wastes under the RCRA. In 2017, the EPA agreed to reconsider the rule. On July 30, 2018, the EPA promulgated a rule that amends the existing ash rule by extending some of the deadlines and providing more flexibility for compliance. On August 21, 2018, the D.C. Circuit found, among other things, that the EPA had not adequately regulated unlined ponds and legacy ponds. On August 14, 2019, the EPA proposed targeted changes to the April 2015 Rule including changes to address the August 2018 D.C. Circuit decision. On December 2, 2019, the EPA released for comment "Closure Part A Proposal" to revise the CCR Rule to address the D.C. Circuit's 2018 decision regarding the adequacy of clay-lined impoundments, obligations to close all unlined impoundments and related deadlines. On February 20, 2020, the EPA proposed the framework for developing and implementing a federal permit program for states that are not approved to administer the CCR rule. On March 3, 2020, the EPA proposed for comment "A Holistic Approach to Closure Part B," which proposes procedures for obtaining approval to operate existing impoundments with alternative liners. We anticipate that the EPA will promulgate new regulations to address these and other issues as it reconsiders other aspects of the existing rule. The Company will determine estimates of the cost of compliance after the rule is revised.

Impairments	3 Months Ended
Impairments	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Impairments	ImpairmentsPetra Nova Parish Holdings — During the first quarter of 2020, due to the decline in oil prices, NRG determined that the carrying amount of the Company’s equity method investment exceeded the fair value of the investment and that the decline is considered to be other-than-temporary. In determining the fair value, the Company utilized an income approach to estimate future project cash flows. The Company recorded an impairment loss of $18 million in the Texas segment,

Income Taxes

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Effective Income Tax Rate

The income tax provision consisted of the following:


	Three months ended March 31,
(In millions, except rates)	2020			2019
Income from continuing operations before income taxes	$	144		$	98
Income tax expense from continuing operations	23			4

Effective income tax rate	16.0		%	4.1		%

For the three months ended March 31, 2020, the effective tax rate was lower than the statutory rate of 21%, primarily due to an excess tax benefit related to share-based compensation, partially offset by state tax expense. For the three months ended March 31, 2019, the effective tax rate was lower than the statutory rate of 21%, primarily due to the tax benefit for the change in valuation allowance, partially offset by state tax expense.

On March 27, 2020, the Senate passed the CARES Act to provide emergency relief related to the COVID-19 pandemic. The CARES Act contains federal income tax provisions which, among other things: (i) increases the amount of interest expense that businesses are allowed to deduct by increasing the adjusted taxable income limitation from 30% to 50% for tax years that begin in 2019 and 2020; (ii) permits businesses to carry back to each of the five tax years NOLs arising from tax years beginning after December 31, 2017 and before January 1, 2020; and (iii) temporarily removes the 80% limitation on NOLs until tax years beginning after 2020. NRG does not expect the CARES Act provisions to have a material impact on the tax positions of the Company.

Uncertain Tax Benefits

As of March 31, 2020, NRG had a non-current tax liability of $16 million for uncertain tax benefits from positions taken on various state income tax returns and accrued interest. For the three months ended March 31, 2020, NRG accrued an immaterial amount of interest relating to the uncertain tax benefits. As of March 31, 2020, NRG had cumulative interest and penalties related to these uncertain tax benefits of $2 million. The Company recognizes interest and penalties related to uncertain tax benefits in income tax expense.

NRG is subject to examination by taxing authorities for income tax returns filed in the U.S. federal jurisdiction and various state and foreign jurisdictions including operations located in Australia and Canada. The Company is no longer subject to U.S. federal income tax examinations for years prior to 2016. With few exceptions, state and local income tax examinations are no longer open for years prior to 2011.

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 759	$ 345
Funds deposited by counterparties	51	32
Restricted cash	8	8
Accounts receivable, net	915	1,025
Inventory	372	383
Derivative instruments	884	860
Cash collateral paid in support of energy risk management activities	200	190
Prepayments and other current assets	290	245
Total current assets	3,479	3,088
Property, plant and equipment, net	2,573	2,593
Other Assets
Equity investments in affiliates	350	388
Operating lease right-of-use assets, net	446	464
Goodwill	579	579
Intangible assets, net	769	789
Nuclear decommissioning trust fund	702	794
Derivative instruments	434	310
Deferred income taxes	3,265	3,286
Other non-current assets	225	240
Total other assets	6,770	6,850
Total Assets	12,822	12,531
Current Liabilities
Current portion of long-term debt	640	88
Current portion of operating lease liabilities	71	73
Accounts payable	708	722
Derivative instruments	832	781
Cash collateral received in support of energy risk management activities	51	32
Accrued expenses and other current liabilities	550	663
Total current liabilities	2,852	2,359
Other Liabilities
Long-term debt	5,807	5,803
Non-current operating lease liabilities	473	483
Nuclear decommissioning reserve	303	298
Nuclear decommissioning trust liability	390	487
Derivative instruments	370	322
Deferred income taxes	15	17
Other non-current liabilities	1,076	1,084
Total other liabilities	8,434	8,494
Total Liabilities	11,286	10,853
Redeemable noncontrolling interest in subsidiaries	0	20
Commitments and Contingencies
Stockholders' Equity
Common stock; $0.01 par value; 500,000,000 shares authorized; 422,979,893 and 421,890,790 shares issued and 245,623,854 and 248,996,189 shares outstanding at March 31, 2020 and December 31, 2019, respectively	4	4
Additional paid-in-capital	8,498	8,501
Accumulated deficit	(1,570)	(1,616)
Treasury stock, at cost - 177,356,039 and 172,894,601 shares at March 31, 2020 and December 31, 2019, respectively	(5,189)	(5,039)
Accumulated other comprehensive loss	(207)	(192)
Total Stockholders' Equity	1,536	1,658
Total Liabilities and Stockholders' Equity	$ 12,822	$ 12,531

Fair Value of Financial Instruments - Derivative Fair Value Measurements (Details) $ in Millions	Mar. 31, 2020 USD ($) $ / MWh	Dec. 31, 2019 USD ($) $ / MWh
Liabilities
Derivative liabilities	$ 1,202	$ 1,103
Level 3
Liabilities
Derivative liabilities	119	155
Commodity contracts
Assets
Derivative assets	1,318	1,170
Liabilities
Derivative liabilities	1,202	1,103
Commodity contracts \| Level 3
Assets
Derivative assets	192	193
Liabilities
Derivative liabilities	119	155
Commodity contracts \| Level 3 \| Power Contracts
Assets
Derivative assets	150	151
Liabilities
Derivative liabilities	$ 107	$ 139
Commodity contracts \| Level 3 \| Power Contracts \| Low
Fair Value Inputs / Range
Forward Market Price (per MWh) \| $ / MWh	6	8
Commodity contracts \| Level 3 \| Power Contracts \| High
Fair Value Inputs / Range
Forward Market Price (per MWh) \| $ / MWh	165	218
Commodity contracts \| Level 3 \| Power Contracts \| Weighted Average
Fair Value Inputs / Range
Forward Market Price (per MWh) \| $ / MWh	25	24
Commodity contracts \| Level 3 \| FTRs
Assets
Derivative assets	$ 42	$ 42
Liabilities
Derivative liabilities	$ 12	$ 16
Commodity contracts \| Level 3 \| FTRs \| Low
Fair Value Inputs / Range
Derivative, Auction Price \| $ / MWh	(380)	(105)
Commodity contracts \| Level 3 \| FTRs \| High
Fair Value Inputs / Range
Derivative, Auction Price \| $ / MWh	91	213
Commodity contracts \| Level 3 \| FTRs \| Weighted Average
Fair Value Inputs / Range
Derivative, Auction Price \| $ / MWh	0	0

Changes in Capital Structure - NRG Common Stock Dividends (Details) - $ / shares		3 Months Ended		12 Months Ended
	Apr. 15, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Subsequent Event [Line Items]
Common stock dividends proposed annual amount (in usd per share)		$ 1.20		$ 0.12
Dividends per common share (in usd per share)		$ 0.30	$ 0.03
Subsequent Event
Subsequent Event [Line Items]
Common stock dividends declared (in usd per share)	$ 0.30
Minimum
Subsequent Event [Line Items]
Common stock, annual dividend growth rate, percentage		700.00%
Maximum
Subsequent Event [Line Items]
Common stock, annual dividend growth rate, percentage		9.00%

Long-term Debt - Non Recourse Debt (Details) - Credit Agreement - Letter of Credit - USD ($)	Jan. 04, 2019	Mar. 31, 2020
Debt Instrument [Line Items]
Credit agreement	$ 80,000,000
Facility fees	1.33%
Letters of credit issued		$ 80,000,000

Changes in Capital Structure

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Changes in Capital Structure

As of March 31, 2020 and December 31, 2019, the Company had 500,000,000 shares of common stock authorized. The following table reflects the changes in NRG's common stock issued and outstanding:


	Issued	Treasury	Outstanding
Balance as of December 31, 2019	421,890,790	(172,894,601)	248,996,189
Shares issued under LTIPs	1,089,103	—	1,089,103

Shares repurchased	—	(4,461,438)	(4,461,438)
Balance as of March 31, 2020	422,979,893	(177,356,039)	245,623,854
Shares issued under LTIPs	1,096	—	1,096
Shares issued under ESPP	—	63,455	63,455
Shares repurchased	—	(1,601,345)	(1,601,345)
Balance as of May 7, 2020	422,980,989	(178,893,929)	244,087,060

Share Repurchases

The Company adopted in the fourth quarter of 2019 a long-term capital allocation policy that targets allocating 50% of cash available for allocation generated each year to growth investments and 50% to be returned to shareholders. The return of capital to shareholders is expected to be completed through the increased dividend discussed below, supplemented by share repurchases. The following repurchases have been made during the three months ended March 31, 2020 and through May 7, 2020:


	Total number of shares purchased	Average price paid per share	Amounts paid for shares purchased (in millions)
2020 repurchases:
Repurchases	4,461,438		$	150
Equivalent shares purchased in lieu of tax withholdings on equity compensation issuances^(a)	710,063		27

Total Share Repurchases during the three months ended March 31, 2020	5,171,501	$34.20	177
Repurchases made subsequent to March 31, 2020	1,601,345		$	47
Total Share Repurchases January 1, 2020 through May 7, 2020	6,772,846	$33.05	$	224

(a) NRG elected to pay cash for tax withholding on equity awards instead of issuing actual shares to management. The average price per equivalent shares withheld was $38.24

Employee Stock Purchase Plan

In March 2019, the Company reopened participation in the ESPP, which allows eligible employees to elect to withhold between 1% and 10% of their eligible compensation to purchase shares of NRG common stock at the lesser of 95% of its market value on the offering date or 95% of the fair market value on the exercise date. An offering date will occur each April 1 and October 1. An exercise date will occur each September 30 and March 31. In April 2020, 63,455 shares of common stock were issued to employee accounts from treasury stock for the offering period of October 1, 2019 to March 31, 2020.

NRG Common Stock Dividends

Beginning in the first quarter of 2020, NRG increased the annual dividend to $1.20 from $0.12 per share and expects to target an annual dividend growth rate of 7-9% per share in subsequent years. A quarterly dividend of $0.30 per share was paid on the Company's common stock during the three months ended March 31, 2020. On April 15, 2020, NRG declared a quarterly dividend on the Company's common stock of $0.30 per share, payable May 15, 2020 to stockholders of record as of May 1, 2020.

The Company's common stock dividends are subject to available capital, market conditions, and compliance with associated laws, regulations and other contractual obligations.

Nuclear Decommissioning Trust Fund - Narrative (Details)	Mar. 31, 2020
STP
Nuclear decommissioning trust fund
Ownership interest as percentage	44.00%

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2020
Accounting Policies [Abstract]
Segment Reporting	Segments As part of perfecting the integrated model, in which the majority of the Company’s generation serves its retail customers, the Company began managing its operations based on the combined results of the retail and wholesale generation businesses with a geographical focus in 2020. As a result, the Company changed its business segments from Retail and Generation to Texas, East and West/Other beginning in the first quarter of 2020. The Company's updated segment structure reflects how management currently makes financial decisions and allocates resources. The Company's businesses are segregated as follows: •Texas, which includes all activity related to customer, plant and market operations in Texas; •East, which includes the remaining activity related to customer operations and all activity related to plant and market operations in the East; •West/Other, which includes the following assets and activities: (i) all activity related to plant and market operations in the West, (ii) activity related to the Cottonwood power plant that was sold to Cleco on February 4, 2019 and is being leased back until 2025, (iii) the remaining renewables activity, including the Company’s equity method investments in Ivanpah Master Holdings, LLC and Agua Caliente, the remaining Home Solar assets and the NFL stadium solar generating assets, and (iv) activity related to the Company’s equity method investment for the Gladstone power plant in Australia; and •Corporate activities. All affected disclosures have been recast to reflect these changes for all periods presented. For further discussion of segment reporting, refer to Note 13, Segment Reporting. on the combined results of the retail and wholesale generation businesses with a geographical focus in 2020. As a result, the Company changed its business segments from Retail and Generation to Texas, East and West/Other beginning in the first quarter of 2020, as further described in Note 1, Nature of Business. The Company's updated segment structure reflects how management currently makes financial decisions and allocates resources The financial information for the three months ended March 31, 2019 was recast to reflect the current segment structure.In February 2019, as described in Note 4, Discontinued Operations and Dispositions, the Company completed the sales of the South Central Portfolio and Carlsbad. The financial information for the three months ended March 31, 2019 presented below reflects the presentation of these entities as discontinued operations within the corporate segment.NRG’s chief operating decision maker, its chief executive officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, free cash flow and allocation of capital, as well as net income/(loss).
Use of Estimates	Use of EstimatesThe preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified for comparative purposes.
Credit Losses	Credit Losses On January 1, 2020, the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, or ASU No. 2016-13, using the modified retrospective approach. Following the adoption of the new standard, the Company’s process of estimating expected credit losses remains materially consistent with its historical practice. Information prior to January 1, 2020, which was previously referred to as the allowance and provision for bad debt, has not been restated and continues to be reported under the accounting standards in effect for that period. Retail trade receivables are reported on the balance sheet net of the allowance for credit losses. The Company accrues an allowance for current expected credit losses based on (i) estimates of uncollectible revenues by analyzing accounts receivable aging and current and reasonable forecasts of expected economic factors including, but not limited to, unemployment rates and weather-related events, (ii) historical collections and delinquencies, and (iii) counterparty credit ratings for commercial and industrial customers.
Restricted Cash	Funds deposited by counterparties consist of cash held by the Company as a result of collateral posting obligations from its counterparties. Some amounts are segregated into separate accounts that are not contractually restricted but, based on the Company's intention, are not available for the payment of general corporate obligations. Depending on market fluctuations and the settlement of the underlying contracts, the Company will refund this collateral to the hedge counterparties pursuant to the terms and conditions of the underlying trades. Since collateral requirements fluctuate daily and the Company cannot predict if any collateral will be held for more than twelve months, the funds deposited by counterparties are classified as a current asset on the Company's balance sheet, with an offsetting liability for this cash collateral received within current liabilities. Restricted cash consists primarily of funds held to satisfy the requirements of certain debt agreements and funds held within the Company's projects that are restricted in their use.
Recent Accounting Developments	Recent Accounting Developments - Guidance Adopted in 2020 ASU 2018-17 — In October 2018, the FASB issued ASU No. 2018-17, Consolidations (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities, or ASU No. 2018-17, in response to stakeholders’ observations that Topic 810, Consolidations, could be improved thereby improving general purpose financial reporting. Specifically, ASU No. 2018-17 requires application of the variable interest entity (VIE) guidance to private companies under common control and consideration of indirect interest held through related parties under common control for determining whether fees paid to decision makers and service providers are variable interests. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. All entities are required to apply the amendments retrospectively. The adoption did not have a material impact on the Company's results of operations, cash flows, or statement of financial position. ASU 2018-15 — In August 2018, the FASB issued ASU No. 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in Cloud Computing Arrangement That Is a Service Contract, or ASU No. 2018-15. The amendments in ASU No. 2018-15 align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs incurred to develop or obtain internal-use software (and hosting arrangement that include an internal-use software license). The amendment also requires the customer to amortize the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. The Company adopted the amendments effective January 1, 2020 using the prospective approach. The adoption did not have a material impact on the Company's results of operations, cash flows, or statement of financial position. ASU 2018-13 — In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirement for Fair value Measurement), or ASU No. 2018-13. The amendments in ASU No. 2018-13 eliminate such disclosures as the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and add new disclosure requirements for Level 3 measurements. ASU No. 2018-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Certain disclosures in ASU No. 2018-13 are required to be applied on a retrospective basis and others on a prospective basis. The Company adopted the amendments effective January 1, 2020. As the amendments contemplates changes in disclosures only, it did not have an impact on the Company's results of operations, cash flows, or statement of financial position. ASU 2016-13 — In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Statements, or ASU No. 2016-13, which was further amended through various updates issued by the FASB thereafter. The guidance in ASU No. 2016-13 provides a new model for recognizing credit losses on financial assets carried at amortized cost using an estimate of expected credit losses, instead of the "incurred loss" methodology previously required for recognizing credit losses that delayed recognition until it was probable that a loss was incurred. The estimate of expected credit losses is to be based on consideration of past events, current conditions and reasonable and supportable forecasts of future conditions. The Company adopted the standard and its subsequent corresponding updates effective January 1, 2020 using the modified retrospective approach. Results for the reporting periods after January 1, 2020 are presented under Topic 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company's adoption of Topic 326 did not have a material impact on the Company's results of operations, cash flows, or statement of financial position. Recent Accounting Developments - Guidance Not Yet Adopted ASU 2019-12 — In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, or ASU No. 2019-12, to simplify various aspects related to accounting for income taxes. The guidance in ASU 2019-12 amends the general principles in Topic 740 to eliminate certain exceptions for recognizing deferred taxes for investment, performing intraperiod allocation and calculating income taxes in interim periods. This ASU also includes guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years,. Early adoption is permitted, including adoption in an interim period. The Company is currently in the process of assessing the impact of this guidance on the consolidated financial statements.
Nuclear Decommissioning	NRG's Nuclear Decommissioning Trust Fund assets, which are for the decommissioning of its 44% interest in STP, are comprised of securities classified as available-for-sale and recorded at fair value based on actively quoted market prices. NRG accounts for the Nuclear Decommissioning Trust Fund in accordance with ASC 980, Regulated Operations, because the Company's nuclear decommissioning activities are subject to approval by the PUCT with regulated rates that are designed to recover all decommissioning costs and that can be charged to and collected from the ratepayers per PUCT mandate. Since the Company is in compliance with PUCT rules and regulations regarding decommissioning trusts and the cost of decommissioning is the responsibility of the Texas ratepayers, not NRG, all realized and unrealized gains or losses (including other-than-temporary impairments) related to the Nuclear Decommissioning Trust Fund are recorded to the Nuclear Decommissioning Trust liability and are not included in net income or accumulated OCI, consistent with regulatory treatment.

Nature of Business and Basis of Presentation	3 Months Ended
Nature of Business and Basis of Presentation	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Basis of Presentation	Nature of Business and Basis of Presentation General NRG Energy, Inc., or NRG or the Company, is an integrated power company built on dynamic retail brands with diverse generation assets. NRG brings the power of energy to consumers by producing and selling electricity and related products and services in major competitive power markets in the U.S. and Canada in a manner that delivers value to all of NRG's stakeholders. NRG is a customer-driven business focused on perfecting the integrated model by balancing retail load with generation supply within its deregulated markets. The Company sells energy, services, and innovative, sustainable products and services directly to retail customers under the brand names NRG, Reliant, Green Mountain Energy, Stream, and XOOM Energy, as well as other brand names owned by NRG, supported by approximately 23,000 MW of generation as of March 31, 2020. The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with the SEC's regulations for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. The following notes should be read in conjunction with the accounting policies and other disclosures as set forth in the notes to the condensed consolidated financial statements in the Company's 2019 Form 10-K. Interim results are not necessarily indicative of results for a full year. In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements contain all material adjustments consisting of normal and recurring accruals necessary to present fairly the Company's consolidated financial position as of March 31, 2020, and the results of operations, comprehensive income, cash flows and statements of stockholders' equity for the three months ended March 31, 2020 and 2019. Segments As part of perfecting the integrated model, in which the majority of the Company’s generation serves its retail customers, the Company began managing its operations based on the combined results of the retail and wholesale generation businesses with a geographical focus in 2020. As a result, the Company changed its business segments from Retail and Generation to Texas, East and West/Other beginning in the first quarter of 2020. The Company's updated segment structure reflects how management currently makes financial decisions and allocates resources. The Company's businesses are segregated as follows: •Texas, which includes all activity related to customer, plant and market operations in Texas; •East, which includes the remaining activity related to customer operations and all activity related to plant and market operations in the East; •West/Other, which includes the following assets and activities: (i) all activity related to plant and market operations in the West, (ii) activity related to the Cottonwood power plant that was sold to Cleco on February 4, 2019 and is being leased back until 2025, (iii) the remaining renewables activity, including the Company’s equity method investments in Ivanpah Master Holdings, LLC and Agua Caliente, the remaining Home Solar assets and the NFL stadium solar generating assets, and (iv) activity related to the Company’s equity method investment for the Gladstone power plant in Australia; and •Corporate activities. All affected disclosures have been recast to reflect these changes for all periods presented. For further discussion of segment reporting, refer to Note 13, Segment Reporting. COVID-19 In March 2020, the World Health Organization categorized COVID-19 as a pandemic and the President of the United States declared the COVID-19 outbreak a national emergency. Electricity has been deemed a 'critical and essential business operation' under various state and federal governmental COVID-19 mandates. NRG remains focused on protecting the health and well-being of its employees, while supporting its customers and the communities in which it operates and assuring the continuity of its operations. NRG activated its Crisis Management Team ("CMT") in January 2020, which proactively began managing the Company's response to the impacts of COVID-19. The CMT implemented the business continuity plans for the Company and has taken a variety of measures to ensure the ongoing availability of the Company’s services, while maintaining the Company's commitment to its core values of health and safety. Pursuant to the Company’s Infectious Disease & Pandemic Policy, NRG implemented restrictions on business travel and face-to-face sales channels, instituted remote work practices and enhanced cleaning and hygiene protocols in all of its facilities. In order to effectively serve the Company’s customers, select essential employees and contractors are continuing to report to plant and certain office locations. The Company is also requiring pre-entry screening, including temperature checks, separation of work crews, additional personal protective equipment for employees and contractors when social distancing cannot be maintained, and a ban on all non-essential visitors. As a result of these business continuity measures, the Company has not experienced any material disruptions in its ability to continue its business operations to date. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Reclassifications Certain prior year amounts have been reclassified for comparative purposes.

Revenue Recognition

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Performance Obligations

As of March 31, 2020, estimated future fixed fee performance obligations are $442 million for the remaining nine months of fiscal year 2020, and $607 million, $305 million, $42 million and $8 million for the fiscal years 2021, 2022, 2023 and 2024, respectively. These performance obligations are for cleared auction MWs in the PJM, ISO-NE, NYISO and MISO capacity auctions and are subject to penalties for non performance.

Disaggregated Revenues

The following tables represent the Company’s disaggregation of revenue from contracts with customers for the three months ended March 31, 2020 and 2019:


	Three months ended March 31, 2020
(In millions)	Texas		East		West/Other		Corporate/Eliminations		Total
Retail revenue:
Mass Market	$	1,032	$	347	$	—	$	(1)	$	1,378
Business Solutions	260		23		—		—		283
Total retail revenue	1,292		370		—		(1)		1,661
Energy revenue^(a)	5		45		75		(1)		124
Capacity revenue^(a)	—		134		15		—		149
Mark-to-market for economic hedging activities^(b)	—		(20)		15		1		(4)

Other revenue^(a)	61		10		20		(2)		89
Total operating revenue	1,358		539		125		(3)		2,019
Less: Lease revenue	—		—		5		—		5
Less: Realized and unrealized ASC 815 revenue	7		39		44		(1)		89

Total revenue from contracts with customers	$	1,351	$	500	$	76	$	(2)	$	1,925
(a) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)	Texas		East		West/Other		Corporate/Eliminations		Total
Energy revenue	$	—	$	35	$	19	$	(1)	$	53
Capacity revenue	—		24		—		—		24
Other revenue	7		—		10		(1)		16
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815


	Three months ended March 31, 2019
(In millions)	Texas		East		West/Other		Corporate/Eliminations		Total
Retail revenue:
Mass Market	$	995	$	320	$	—	$	(2)	$	1,313
Business Solutions	258		18		—		—		276
Total retail revenue	1,253		338		—		(2)		1,589
Energy revenue^(a)	105		126		58		1		290
Capacity revenue^(a)	—		144		12		—		156
Mark-to-market for economic hedging activities^(b)	31		(15)		4		—		20

Other revenue^(a)	77		16		19		(2)		110
Total operating revenue	1,466		609		93		(3)		2,165
Less: Lease revenue	—		—		5		—		5
Less: Realized and unrealized ASC 815 revenue	315		54		12		—		381

Total revenue from contracts with customers	$	1,151	$	555	$	76	$	(3)	$	1,779
(a) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)	Texas		East		West/Other		Corporate/Eliminations		Total
Energy revenue	$	271	$	47	$	2	$	—	$	320
Capacity revenue	—		18		—		—		18
Other revenue	13		4		6		—		23
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

Contract Balances

The following table reflects the contract assets and liabilities included in the Company’s balance sheet as of March 31, 2020 and December 31, 2019:


(In millions)	March 31, 2020		December 31, 2019
Deferred customer acquisition costs	$	133	$	133

Accounts receivable, net - Contracts with customers	885		1,002

Accounts receivable, net - Derivative instruments	26		18
Accounts receivable, net - Affiliate	4		5
Total accounts receivable, net	$	915	$	1,025

Unbilled revenues (included within Accounts receivable, net - Contracts with customers)	$	328	$	402

Deferred revenues^(a)	87		82

(a) Deferred revenues from contracts with customers for the three months ended March 31, 2020 and the year ended December 31, 2019 were approximately $27 million and $24 million, respectively

The revenue recognized from contracts with customers during both the three months ended March 31, 2020 and 2019 relating to the deferred revenue balance at the beginning of each period was $13 million. The change in deferred revenue balances during the three months ended March 31, 2020 and 2019 was primarily due to the timing difference of when consideration was received and when the performance obligation was transferred.

Fair Value of Financial Instruments - Counterparty Credit Risk (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020 USD ($) counterparty
Concentration of Credit Risk
Counterparty credit exposure to a portion of the Company's counterparties	$ 346
Collateral held (cash and letters of credit) against counterparty credit exposure to a portion of the Company's counterparties	54
Net counterparty credit exposure to a portion of the Company's counterparties	$ 293
Company's exposure before collateral is expected to roll off by the end of 2019 (as a percent)	54.00%
Net exposure (as a percent)	100.00%
Wholesale counterparty with net exposure \| counterparty	47,000,000
Counterparty credit risk exposure to certain counterparties, threshold (as a percent)	10.00%
Estimated counterparty credit risk exposure to certain counterparties	$ 689
Period of estimated counterparty credit risk exposure, years	5 years
Investment grade
Concentration of Credit Risk
Net exposure (as a percent)	53.00%
Non-investment grade/non-rated
Concentration of Credit Risk
Net exposure (as a percent)	47.00%
Utilities, energy merchants, marketers and other
Concentration of Credit Risk
Net exposure (as a percent)	81.00%
Financial institutions
Concentration of Credit Risk
Net exposure (as a percent)	19.00%

Summary of Significant Accounting Policies - Activity in the Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2020	$ 43
Provision for credit losses	24	$ 26
Write-offs	(32)
Recoveries collected	4
Balance at March 31, 2020	$ 39

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Other Balance Sheet Information

The following table presents the accumulated depreciation included in property, plant and equipment, net and accumulated amortization included in intangible assets, net:


(In millions)	March 31, 2020		December 31, 2019

Property, plant and equipment accumulated depreciation	$	1,832	$	1,752
Intangible assets accumulated amortization	1,237		1,262

Activity in Allowance for Credit Losses

The following table represents the activity in the allowance for credit losses for the three months ended March 31, 2020:


	(In millions)
Balance at January 1, 2020	$	43
Provision for credit losses	24
Write-offs	(32)
Recoveries collected	4
Balance at March 31, 2020	$	39

Reconciliation of Cash and Cash Equivalents, Restricted Cash and Funds Deposited by Counterparties

The following table provides a reconciliation of cash and cash equivalents, restricted cash and funds deposited by counterparties reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statements of cash flows:


(In millions)	March 31, 2020		December 31, 2019
Cash and cash equivalents	$	759	$	345
Funds deposited by counterparties	51		32
Restricted cash	8		8
Cash and cash equivalents, funds deposited by counterparties and restricted cash shown in the statement of cash flows	$	818	$	385

Fair Value of Financial Instruments - Derivative Fair Value Measurements, Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020 USD ($)
Fair Value Disclosures [Abstract]
Total derivative assets valued with prices provided by models and other valuation techniques (as a percent)	15.00%
Total derivative liabilities valued with prices provided by models and other valuation techniques (as a percent)	10.00%
Decrease in cost of operations	$ 2

Condensed Consolidating Financial Information

3 Months Ended

Mar. 31, 2020

Condensed Consolidating Financial Information Disclosure [Abstract]

Condensed Consolidating Financial Information

Condensed Consolidating Financial Information As of March 31, 2020, the Company had outstanding $4.4 billion of Senior Notes due from 2026 to 2048 and outstanding $1.1 billion of Senior Secured First Lien Notes due from 2024 to 2029, as shown in Note 9, Long-term Debt. These Senior Notes and Senior Secured First Lien Notes are guaranteed by certain of NRG's current and future 100% owned domestic subsidiaries, or guarantor subsidiaries. These guarantees are both joint and several. The non-guarantor subsidiaries include all of NRG's foreign subsidiaries and certain domestic subsidiaries.

Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes and the Senior Secured First Lien Notes as of March 31, 2020:


Ace Energy, Inc.	NRG Distributed Generation PR LLC	Reliant Energy Power Supply, LLC
Allied Home Warranty GP LLC	NRG Dunkirk Operations Inc.	Reliant Energy Retail Holdings, LLC
Allied Warranty LLC	NRG ECOKAP Holdings LLC	Reliant Energy Retail Services, LLC
Arthur Kill Power LLC	NRG El Segundo Operations Inc.	RERH Holdings, LLC
Astoria Gas Turbine Power LLC	NRG Energy Labor Services LLC	Saguaro Power LLC
BidURenergy, Inc.	NRG Energy Services Group LLC	SGE Energy Sourcing, LLC
Cabrillo Power I LLC	NRG Energy Services LLC	SGE Texas Holdco, LLC
Cabrillo Power II LLC	NRG Generation Holdings Inc.	Somerset Operations Inc.
Carbon Management Solutions LLC	NRG Greenco LLC	Somerset Power LLC
Cirro Energy Services, Inc.	NRG Home & Business Solutions LLC	Stream Energy Columbia, LLC
Cirro Group, Inc.	NRG Home Services LLC	Stream Energy Delaware, LLC
Connecticut Jet Power LLC	NRG Home Solutions LLC	Stream Energy Illinois, LLC
Devon Power LLC	NRG Home Solutions Product LLC	Stream Energy Maryland, LLC
Dunkirk Power LLC	NRG Homer City Services LLC	Stream Energy New Jersey, LLC
Eastern Sierra Energy Company LLC	NRG HQ DG LLC	Stream Energy New York, LLC
El Segundo Power II LLC	NRG Huntley Operations Inc.	Stream Energy Pennsylvania, LLC
El Segundo Power, LLC	NRG Identity Protect LLC	Stream Georgia Gas SPE, LLC
Energy Alternatives Wholesale, LLC	NRG Ilion Limited Partnership	Stream Ohio Gas & Electric, LLC
Energy Choice Solutions LLC	NRG Ilion LP LLC	Stream SPE GP, LLC
Energy Plus Holdings LLC	NRG International LLC	Stream SPE, Ltd.
Energy Plus Natural Gas LLC	NRG Maintenance Services LLC	Texas Genco GP, LLC
Energy Protection Insurance Company	NRG Mextrans Inc.	Texas Genco Holdings, Inc.
Everything Energy LLC	NRG MidAtlantic Affiliate Services Inc.	Texas Genco LP, LLC
Forward Home Security, LLC	NRG Middletown Operations Inc.	Texas Genco Services, LP
GCP Funding Company, LLC	NRG Montville Operations Inc.	US Retailers LLC
Green Mountain Energy Company	NRG North Central Operations Inc.	Vienna Operations Inc.
Gregory Partners, LLC	NRG Northeast Affiliate Services Inc.	Vienna Power LLC
Gregory Power Partners LLC	NRG Norwalk Harbor Operations Inc.	WCP (Generation) Holdings LLC
Huntley Power LLC	NRG Operating Services, Inc.	West Coast Power LLC
Independence Energy Alliance LLC	NRG Oswego Harbor Power Operations Inc.	XOOM Alberta Holdings, LLC
Independence Energy Group LLC	NRG PacGen Inc.	XOOM British Columbia Holdings, LLC
Independence Energy Natural Gas LLC	NRG Portable Power LLC	XOOM Energy California, LLC
Indian River Operations Inc.	NRG Power Marketing LLC	XOOM Energy Connecticut, LLC
Indian River Power LLC	NRG Reliability Solutions LLC	XOOM Energy Delaware, LLC
Meriden Gas Turbines LLC	NRG Renter's Protection LLC	XOOM Energy Georgia, LLC
Middletown Power LLC	NRG Retail LLC	XOOM Energy Global Holdings, LLC
Montville Power LLC	NRG Retail Northeast LLC	XOOM Energy Illinois LLC
NEO Corporation	NRG Rockford Acquisition LLC	XOOM Energy Indiana, LLC
New Genco GP, LLC	NRG Saguaro Operations Inc.	XOOM Energy Kentucky, LLC
Norwalk Power LLC	NRG Security LLC	XOOM Energy Maine, LLC
NRG Advisory Services LLC	NRG Services Corporation	XOOM Energy Maryland, LLC
NRG Affiliate Services Inc.	NRG SimplySmart Solutions LLC	XOOM Energy Massachusetts, LLC
NRG Arthur Kill Operations Inc.	NRG South Central Affiliate Services Inc.	XOOM Energy Michigan, LLC
NRG Astoria Gas Turbine Operations Inc.	NRG South Central Operations Inc.	XOOM Energy New Hampshire, LLC
NRG Business Services LLC	NRG South Texas LP	XOOM Energy New Jersey, LLC
NRG Cabrillo Power Operations Inc.	NRG Texas Gregory LLC	XOOM Energy New York, LLC
NRG California Peaker Operations LLC	NRG Texas Holding Inc.	XOOM Energy Ohio, LLC
NRG Cedar Bayou Development Company, LLC	NRG Texas LLC	XOOM Energy Pennsylvania, LLC
NRG Connected Home LLC	NRG Texas Power LLC	XOOM Energy Rhode Island, LLC
NRG Connecticut Affiliate Services Inc.	NRG Warranty Services LLC	XOOM Energy Texas, LLC
NRG Construction LLC	NRG West Coast LLC	XOOM Energy Virginia, LLC
NRG Curtailment Solutions, Inc.	NRG Western Affiliate Services Inc.	XOOM Energy Washington D.C., LLC
NRG Development Company Inc.	O'Brien Cogeneration, Inc. II	XOOM Energy, LLC
NRG Devon Operations Inc.	Oswego Harbor Power LLC	XOOM Ontario Holdings, LLC
NRG Dispatch Services LLC	Reliant Energy Northeast LLC	XOOM Solar, LLC
NRG Distributed Energy Resources Holdings LLC

NRG conducts much of its business through and derives much of its income from its subsidiaries. Therefore, the Company's ability to make required payments with respect to its indebtedness and other obligations depends on the financial results and condition of its subsidiaries and NRG's ability to receive funds from its subsidiaries. There are no restrictions on the ability of any of the guarantor subsidiaries to transfer funds to NRG. However, there may be restrictions for certain non-guarantor subsidiaries.

The following condensed consolidating financial information presents the financial information of NRG Energy, Inc., the guarantor subsidiaries and the non-guarantor subsidiaries in accordance with Rule 3-10 of Regulation S-X of the Securities Act. The financial information may not necessarily be indicative of results of operations or financial position had the guarantor subsidiaries or non-guarantor subsidiaries operated as independent entities.

In this presentation, NRG Energy, Inc. consists of parent company operations. Guarantor subsidiaries and non-guarantor subsidiaries of NRG are reported on an equity basis. For companies acquired, the fair values of the assets and liabilities acquired have been presented on a push-down accounting basis.

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the three months ended March 31, 2020

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Operating Revenues
Total operating revenues	$	1,778	$	252	$	—	$	(11)	$	2,019
Operating Costs and Expenses
Cost of operations	1,290		202		(24)		(11)		1,457
Depreciation and amortization	80		19		10		—		109

Selling, general and administrative	140		5		64		—		209
Reorganization costs	—		—		3		—		3
Development costs	—		—		3		—		3
Total operating costs and expenses	1,510		226		56		(11)		1,781

Gain on sale of assets	—		1		5		—		6
Operating Income/(Loss)	268		27		(51)		—		244
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries	3		—		262		(265)		—
Equity in losses of unconsolidated affiliates	—		(11)		—		—		(11)
Impairment losses on investments	—		(18)		—		—		(18)
Other income/(loss), net	3		(1)		25		—		27

Interest expense	(5)		(1)		(92)		—		(98)
Total other income/(expense)	1		(31)		195		(265)		(100)
Income/(Loss) from Continuing Operations Before Income Taxes	269		(4)		144		(265)		144
Income tax expense	—		—		23		—		23




Net Income/(Loss)	$	269	$	(4)	$	121	$	(265)	$	121

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

For the three months ended March 31, 2020

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Net Income/(Loss)	$	269	$	(4)	$	121	$	(265)	$	121
Other Comprehensive Loss

Foreign currency translation adjustments, net	(15)		(15)		(15)		30		(15)

Defined benefit plans, net	2		—		—		(2)		—
Other comprehensive loss	(13)		(15)		(15)		28		(15)


Comprehensive Income/(Loss)	$	256	$	(19)	$	106	$	(237)	$	106

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

March 31, 2020

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	—	$	19	$	740	$	—	$	759
Funds deposited by counterparties	51		—		—		—		51
Restricted cash	7		—		1		—		8
Accounts receivable, net	1,684		137		533		(1,439)		915
Inventory	287		85		—		—		372
Derivative instruments	882		35		—		(33)		884
Cash collateral paid in support of energy risk management activities	197		3		—		—		200

Prepayments and other current assets	222		8		60		—		290


Total current assets	3,330		287		1,334		(1,472)		3,479
Property, plant and equipment, net	1,372		1,046		155		—		2,573
Other Assets
Investment in subsidiaries	158		—		5,122		(5,280)		—
Equity investments in affiliates	—		350		—		—		350

Operating lease right-of-use assets, net	79		251		116		—		446
Goodwill	400		179		—		—		579
Intangible assets, net	729		40		—		—		769
Nuclear decommissioning trust fund	702		—		—		—		702
Derivative instruments	434		13		—		(13)		434
Deferred income taxes	435		(32)		2,862		—		3,265
Other non-current assets	163		27		35		—		225


Total other assets	3,100		828		8,135		(5,293)		6,770
Total Assets	$	7,802	$	2,161	$	9,624	$	(6,765)	$	12,822
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt	$	1	$	4	$	635	$	—	$	640
Current portion of operating lease liabilities	20		31		20		—		71
Accounts payable	1,016		125		1,006		(1,439)		708

Derivative instruments	852		13		—		(33)		832
Cash collateral received in support of energy risk management activities	51		—		—		—		51
Accrued expenses and other current liabilities	259		31		260		—		550



Total current liabilities	2,199		204		1,921		(1,472)		2,852
Other Liabilities
Long-term debt	248		24		5,535		—		5,807
Non-current operating lease liabilities	64		295		114		—		473
Nuclear decommissioning reserve	303		—		—		—		303
Nuclear decommissioning trust liability	390		—		—		—		390

Derivative instruments	382		1		—		(13)		370
Deferred income taxes	—		15		—		—		15
Other non-current liabilities	438		120		518		—		1,076


Total other liabilities	1,825		455		6,167		(13)		8,434
Total Liabilities	4,024		659		8,088		(1,485)		11,286

Stockholders’ Equity	3,778		1,502		1,536		(5,280)		1,536
Total Liabilities and Stockholders’ Equity	$	7,802	$	2,161	$	9,624	$	(6,765)	$	12,822

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the three months ended March 31, 2020

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Cash Flows from Operating Activities
Net income/(loss)	$	269	$	(4)	$	121	$	(265)	$	121


Adjustments to reconcile net income/(loss) to cash provided by operating activities:
Distributions from and equity in earnings/(losses) of unconsolidated affiliates and consolidated subsidiaries	(3)		16		(262)		265		16
Depreciation and amortization	80		20		9		—		109
Accretion of asset retirement obligations	4		7		—		—		11
Provision for credit losses	24		—		—		—		24
Amortization of nuclear fuel	13		—		—		—		13
Amortization of financing costs and debt discount/premiums	—		—		6		—		6
Loss on debt extinguishment, net	—		—		1		—		1
Amortization of emission allowances and energy credits	2		5		—		—		7
Amortization of unearned equity compensation	—		—		5		—		5
Net gain on sale of assets and disposal of assets	(8)		(1)		(5)		—		(14)

Impairment losses	—		18		—		—		18
Changes in derivative instruments	(46)		—		—		—		(46)
Changes in deferred income taxes and liability for uncertain tax benefits	(14)		11		22		—		19
Changes in collateral deposits in support of energy risk management activities	4		5		—		—		9
Changes in nuclear decommissioning trust liability	8		—		—		—		8


Changes in other working capital	(130)		(14)		45		—		(99)


Net Cash Provided/(Used) by Operating Activities	203		63		(58)		—		208
Cash Flows from Investing Activities
Intercompany dividends	—		—		757		(757)		—

Capital expenditures	(50)		(6)		(10)		—		(66)

Net purchases of emission allowances	(8)		—		—		—		(8)
Investments in nuclear decommissioning trust fund securities	(121)		—		—		—		(121)
Proceeds from the sale of nuclear decommissioning trust fund securities	112		—		—		—		112
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees	10		—		5				15






Net Cash (Used)/Provided by Investing Activities	(57)		(6)		752		(757)		(68)
Cash Flows from Financing Activities

Intercompany dividends and transfers	(63)		(56)		(638)		757		—
Payments of dividends to common stockholders	—		—		(74)		—		(74)
Payments for share repurchase activity	—		—		(179)		—		(179)


Purchase of and distributions to noncontrolling interests from subsidiaries	—		(2)		—		—		(2)

Proceeds from issuance of long-term debt	—		—		59		—		59

Repayments of long-term debt	(59)		(1)		—		—		(60)
Net proceeds from Revolving Credit Facility	—		—		552		—		552

Other	(3)		—		—		—		(3)


Net Cash (Used)/Provided by Financing Activities	(125)		(59)		(280)		757		293


Net Increase/(Decrease) in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	21		(2)		414		—		433
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	37		21		327		—		385
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	$	58	$	19	$	741	$	—	$	818

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the three months ended March 31, 2019

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Operating Revenues
Total operating revenues	$	1,769	$	395	$	—	$	1	$	2,165
Operating Costs and Expenses
Cost of operations	1,358		283		9		1		1,651
Depreciation and amortization	54		23		8		—		85

Selling, general and administrative	122		16		56		—		194
Reorganization costs	—		—		13		—		13
Development costs	—		—		2		—		2
Total operating costs and expenses	1,534		322		88		1		1,945

Gain on sale of assets	1		—		—		—		1
Operating Income/(Loss)	236		73		(88)		—		221
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries	10		—		299		(309)		—
Equity in losses of unconsolidated affiliates	—		(21)		—		—		(21)

Other income, net	4		1		7		—		12

Interest expense	(4)		(4)		(106)		—		(114)
Total other income/(expense)	10		(24)		200		(309)		(123)
Income from Continuing Operations Before Income Taxes	246		49		112		(309)		98
Income tax expense	—		—		4		—		4
Income from Continuing Operations	246		49		108		(309)		94
Income from discontinued operations, net of income tax	9		5		374		—		388


Net Income	$	255	$	54	$	482	$	(309)	$	482

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the three months ended March 31, 2019

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Net Income	$	255	$	54	$	482	$	(309)	$	482
Other Comprehensive Income/(Loss)

Foreign currency translation adjustments, net	1		1		1		(2)		1

Defined benefit plans, net	—		—		(3)		—		(3)
Other comprehensive income/(loss)	1		1		(2)		(2)		(2)


Comprehensive Income	$	256	$	55	$	480	$	(311)	$	480

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

December 31, 2019


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	—	$	20	$	325	$	—	$	345
Funds deposited by counterparties	32		—		—		—		32
Restricted cash	5		1		2		—		8
Accounts receivable, net	1,293		239		233		(740)		1,025
Inventory	272		111		—		—		383
Derivative instruments	856		45		—		(41)		860
Cash collateral paid in support of energy risk management activities	182		8		—		—		190

Prepayments and other current assets	170		8		67		—		245


Total current assets	2,810		432		627		(781)		3,088
Property, plant and equipment, net	1,483		952		158		—		2,593
Other Assets
Investment in subsidiaries	710		—		4,785		(5,495)		—
Equity investments in affiliates	—		388		—		—		388

Operating lease right-of-use assets, net	81		261		122		—		464
Goodwill	359		220		—		—		579
Intangible assets, net	375		414		—		—		789
Nuclear decommissioning trust fund	794		—		—		—		794
Derivative instruments	308		15		—		(13)		310
Deferred income taxes	421		(19)		2,884		—		3,286
Other non-current assets	145		30		65		—		240


Total other assets	3,193		1,309		7,856		(5,508)		6,850
Total Assets	$	7,486	$	2,693	$	8,641	$	(6,289)	$	12,531
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt	$	—	$	5	$	83	$	—	$	88
Current portion of operating lease liabilities	20		32		21		—		73
Accounts payable	918		141		403		(740)		722

Derivative instruments	797		25		—		(41)		781
Cash collateral received in support of energy risk management activities	32		—		—		—		32
Accrued expenses and other current liabilities	280		44		339		—		663



Total current liabilities	2,047		247		846		(781)		2,359
Other Liabilities
Long-term debt	302		28		5,473		—		5,803
Non-current operating lease liabilities	64		301		118		—		483
Nuclear decommissioning reserve	298		—		—		—		298
Nuclear decommissioning trust liability	487		—		—		—		487

Derivative instruments	334		1		—		(13)		322
Deferred income taxes	—		17		—		—		17
Other non-current liabilities	399		153		532		—		1,084


Total other liabilities	1,884		500		6,123		(13)		8,494
Total Liabilities	3,931		747		6,969		(794)		10,853
Redeemable noncontrolling interest in subsidiaries	—		20		—		—		20
Stockholders’ Equity	3,555		1,926		1,672		(5,495)		1,658
Total Liabilities and Stockholders’ Equity	$	7,486	$	2,693	$	8,641	$	(6,289)	$	12,531

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the three months ended March 31, 2019

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Cash Flows from Operating Activities
Net income	$	255	$	54	$	482	$	(309)	$	482
Income from discontinued operations	9		5		374		—		388
Income from continuing operations	246		49		108		(309)		94
Adjustments to reconcile net income to cash provided by operating activities:
Distributions from and equity in earnings/(losses) of unconsolidated affiliates and consolidated subsidiaries	(10)		21		(299)		309		21
Depreciation and amortization	54		23		8		—		85
Accretion of asset retirement obligations	5		2		—		—		7
Provision for credit losses	23		3		—		—		26
Amortization of nuclear fuel	13		—		—		—		13
Amortization of financing costs and debt discount/premiums	—		—		7		—		7

Amortization of emission allowances and energy credits	6		—		—		—		6
Amortization of unearned equity compensation	—		—		4		—		4
Net loss on sale of assets and disposal of assets	—		—		3		—		3


Changes in derivative instruments	(29)		5		9		—		(15)
Changes in deferred income taxes and liability for uncertain tax benefits	—		1		(3)		—		(2)
Changes in collateral deposits in support of energy risk management activities	(114)		(9)		—		—		(123)
Changes in nuclear decommissioning trust liability	9		—		—		—		9


Changes in other working capital	(211)		(137)		114		—		(234)
Cash used by continuing operations	(8)		(42)		(49)		—		(99)
Cash provided/(used) by discontinued operations	17		(9)		—		—		8
Net Cash Provided/(Used) by Operating Activities	9		(51)		(49)		—		(91)
Cash Flows from Investing Activities
Intercompany dividends	—		—		311		(311)		—
Payments for acquisitions of businesses	(16)		—		—		—		(16)
Capital expenditures	(36)		(6)		(7)		—		(49)


Investments in nuclear decommissioning trust fund securities	(122)		—		—		—		(122)
Proceeds from the sale of nuclear decommissioning trust fund securities	113		—		—		—		113
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees	1		404		908		—		1,313

Net distributions from investments in unconsolidated affiliates	—		4		—		—		4
Contributions to discontinued operations	—		(44)		—		—		(44)
Other	—		—		(1)		—		(1)
Cash (used)/provided by continuing operations	(60)		358		1,211		(311)		1,198
Cash used by discontinued operations	—		(2)		—		—		(2)
Net Cash (Used)/Provided by Investing Activities	(60)		356		1,211		(311)		1,196
Cash Flows from Financing Activities

Intercompany dividends and transfers	(4)		(290)		(17)		311		—
Payment of dividends to common stockholders	—		—		(8)		—		(8)
Payments for share repurchase activity	—		—		(783)		—		(783)


Net distributions to noncontrolling interests from subsidiaries	—		(1)		—		—		(1)
Proceeds from issuance of common stock	—		—		2		—		2


Payments for long-term debt	—		(33)		(4)		—		(37)



Cash used by continuing operations	(4)		(324)		(810)		311		(827)
Cash provided by discontinued operations	—		43		—		—		43
Net Cash Used by Financing Activities	(4)		(281)		(810)		311		(784)

Change in cash from discontinued operations	17		32		—		—		49
Net (Decrease)/Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	(72)		(8)		352		—		272
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	95		38		480		—		613
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	$	23	$	30	$	832	$	—	$	885

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities
Net Income	$ 121	$ 482
Income from discontinued operations, net of income tax	0	388
Income/(loss) from continuing operations	121	94
Adjustments to reconcile net income to cash provided by operating activities:
Distributions from and equity in losses of unconsolidated affiliates	16	21
Depreciation and amortization	109	85
Accretion of asset retirement obligations	11	7
Provision for credit losses	24	26
Amortization of nuclear fuel	13	13
Amortization of financing costs and debt discount/premiums	6	7
Loss on debt extinguishment, net	(1)	0
Amortization of emissions allowances and energy credits	7	6
Amortization of unearned equity compensation	5	4
(Gain)/loss on sale of assets and disposal of assets	(14)	3
Impairment losses	18	0
Changes in derivative instruments	(46)	(15)
Changes in deferred income taxes and liability for uncertain tax benefits	19	(2)
Changes in collateral deposits in support of energy risk management activities	9	(123)
Changes in nuclear decommissioning trust liability	8	9
Changes in other working capital	(99)	(234)
Cash provided/(used) by continuing operations	208	(99)
Cash provided by discontinued operations	0	8
Net Cash Provided/(Used) by Operating Activities	208	(91)
Cash Flows from Investing Activities
Payments for acquisitions of businesses	0	(16)
Capital expenditures	(66)	(49)
Net purchases of emission allowances	(8)	0
Investments in nuclear decommissioning trust fund securities	(121)	(122)
Proceeds from the sale of nuclear decommissioning trust fund securities	112	113
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees	15	1,313
Net distributions from investments in unconsolidated affiliates	0	4
Contributions to discontinued operations	0	(44)
Other	0	1
Cash (used)/provided by continuing operations	(68)	1,198
Cash used by discontinued operations	0	(2)
Net Cash (Used)/Provided by Investing Activities	(68)	1,196
Cash Flows from Financing Activities
Payments of dividends to common stockholders	(74)	(8)
Payments for share repurchase activity	(179)	(783)
Purchase of and distributions to noncontrolling interests from subsidiaries	(2)	(1)
Proceeds from issuance of common stock	0	2
Proceeds from issuance of long-term debt	59	0
Repayments of long-term debt	(60)	(37)
Net proceeds from Revolving Credit Facility	552	0
Other	(3)	0
Cash provided/(used) by continuing operations	293	(827)
Cash provided by discontinued operations	0	43
Net Cash Provided/(Used) by Financing Activities	293	(784)
Change in Cash from discontinued operations	0	49
Net Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	433	272
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	385	613
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	$ 818	$ 885

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The income tax provision consisted of the following:


	Three months ended March 31,
(In millions, except rates)	2020			2019
Income from continuing operations before income taxes	$	144		$	98
Income tax expense from continuing operations	23			4

Effective income tax rate	16.0		%	4.1		%

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Estimated carrying amounts and fair values of NRG's recorded financial instruments not carried at fair market value

The estimated carrying amounts and fair values of NRG's recorded financial instruments not carried at fair market value are as follows:


	March 31, 2020						December 31, 2019
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value

Assets:
Notes receivable	$	10	$	7	$	11	$	8
Liabilities:
Long-term debt, including current portion^(a)	6,510		6,634		5,956		6,504

(a) Excludes deferred financing costs, which are recorded as a reduction to long-term debt in the Company's consolidated balance sheets

Fair value hierarchy for long-term debt

The following table presents the level within the fair value hierarchy for long-term debt, including current portion, as of March 31, 2020 and December 31, 2019:


	March 31, 2020						December 31, 2019
(In millions)	Level 2		Level 3		Level 2		Level 3
Long-term debt, including current portion	$	5,967	$	667	$	6,388	$	116

Assets and liabilities measured and recorded at fair value on the consolidated balance sheets on a recurring basis


	March 31, 2020

(In millions)	Total		Level 1		Level 2		Level 3
Investments in securities (classified within other current and non-current assets)	$	13	$	—	$	13	$	—

Nuclear trust fund investments:
Cash and cash equivalents	21		21		—		—
U.S. government and federal agency obligations	57		56		1		—
Federal agency mortgage-backed securities	93		—		93		—
Commercial mortgage-backed securities	33		—		33		—
Corporate debt securities	125		—		125		—
Equity securities	308		308		—		—
Foreign government fixed income securities	5		—		5		—
Other trust fund investments:
U.S. government and federal agency obligations	1		1		—		—
Derivative assets:
Commodity contracts	1,318		111		1,015		192


Measured using net asset value practical expedient:
Equity securities — nuclear trust fund investments	60
Equity securities	6
Total assets	$	2,040	$	497	$	1,285	$	192
Derivative liabilities:
Commodity contracts	$	1,202	$	193	$	890	$	119

Total liabilities	$	1,202	$	193	$	890	$	119


	December 31, 2019

(In millions)	Total		Level 1		Level 2		Level 3
Investments in securities (classified within other current and non-current assets)	$	20	$	—	$	20	$	—
Nuclear trust fund investments:
Cash and cash equivalents	17		17		—		—
U.S. government and federal agency obligations	68		68		—		—
Federal agency mortgage-backed securities	100		—		100		—
Commercial mortgage-backed securities	29		—		29		—
Corporate debt securities	109		—		109		—
Equity securities	388		388		—		—
Foreign government fixed income securities	5		—		5		—
Other trust fund investments:
U.S. government and federal agency obligations	1		1		—		—
Derivative assets:
Commodity contracts	1,170		84		893		193


Measured using net asset value practical expedient:
Equity securities — nuclear trust fund investments	78
Equity securities	8
Total assets	$	1,993	$	558	$	1,156	$	193
Derivative liabilities:
Commodity contracts	$	1,103	$	143	$	805	$	155

Total liabilities	$	1,103	$	143	$	805	$	155

Reconciliation of beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs


	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
	Three months ended March 31, 2020		Three months ended March 31, 2019
(In millions)	Derivatives^(a)		Debt Securities		Derivatives^(a)		Total
Beginning balance	$	38	$	19	$	20	$	39


Total gains/(losses) realized/unrealized— included in earnings	22		—		(10)		(10)

Cash received	—		(1)		—		(1)
Purchases	8		—		(2)		(2)
Transfers into Level 3^(b)	8		—		17		17
Transfers out of Level 3^(b)	(3)		—		(27)		(27)
Ending balance	$	73	$	18	$	(2)	$	16
(Losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of period end	$	(9)	$	—	$	(12)	$	(12)

(a)Consists of derivative assets and liabilities, net

(b)Transfers into/out of Level 3 are related to the availability of external broker quotes and are valued as of the end of the reporting period. All transfers in/out are with Level 2

Significant unobservable inputs used developing fair values, Quantitative Information

The following tables quantify the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of March 31, 2020 and December 31, 2019:



	March 31, 2020
	Fair Value										Input/Range
(In millions)	Assets		Liabilities		Valuation Technique	Significant Unobservable Input	Low		High		Weighted Average
Power Contracts	$	150	$	107	Discounted Cash Flow	Forward Market Price (per MWh)	$	6	$	165	$	25

FTRs	42		12		Discounted Cash Flow	Auction Prices (per MWh)	(380)		91		0
	$	192	$	119



	December 31, 2019
	Fair Value										Input/Range
(In millions)	Assets		Liabilities		Valuation Technique	Significant Unobservable Input	Low		High		Weighted Average
Power Contracts	$	151	$	139	Discounted Cash Flow	Forward Market Price (per MWh)	$	8	$	218	$	24

FTRs	42		16		Discounted Cash Flow	Auction Prices (per MWh)	(105)		213		0
	$	193	$	155

Fair value inputs, sensitivity analysis

The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of March 31, 2020 and December 31, 2019:

Significant Unobservable Input

Position

Change In Input

Impact on Fair Value Measurement

Forward Market Price Power

Buy

Increase/(Decrease)

Higher/(Lower)

Forward Market Price Power

Sell

Increase/(Decrease)

Lower/(Higher)

FTR Prices

Buy

Increase/(Decrease)

Higher/(Lower)

FTR Prices

Sell

Increase/(Decrease)

Lower/(Higher)

Net counterparty credit exposure by industry sector and by counterparty credit quality

The following tables highlight net counterparty credit exposure by industry sector and by counterparty credit quality. Net counterparty credit exposure is defined as the aggregate net asset position for NRG with counterparties where netting is permitted under the enabling agreement and includes all cash flow, mark-to-market and NPNS, and non-derivative transactions. The exposure is shown net of collateral held and includes amounts net of receivables or payables.


	Net Exposure^(a)(b)
Category by Industry Sector	(% of Total)

Utilities, energy merchants, marketers and other	81	%
Financial institutions	19

Total as of March 31, 2020	100	%


	Net Exposure ^(a)(b)
Category by Counterparty Credit Quality	(% of Total)
Investment grade	53	%
Non-investment grade/non-rated	47
Total as of March 31, 2020	100	%

(a)Counterparty credit exposure excludes uranium and coal transportation contracts because of the unavailability of market prices

(b)The figures in the tables above exclude potential counterparty credit exposure related to RTOs, ISOs, registered commodity exchanges and certain long-term contracts

Condensed Consolidating Financial Information - CONSOLIDATING STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities
Net Income (Loss)	$ 121	$ 482
Income from discontinued operations	0	388
Income from continuing operations	121	94
Adjustments to reconcile net income/(loss) to cash provided by operating activities:
Distributions from and equity in losses of unconsolidated affiliates	16	21
Depreciation and amortization	109	85
Accretion of asset retirement obligations	11	7
Provision for credit losses	24	26
Amortization of nuclear fuel	13	13
Amortization of financing costs and debt discount/premiums	6	7
Loss on debt extinguishment, net	1	0
Amortization of emissions allowances and energy credits	7	6
Amortization of unearned equity compensation	5	4
Net loss on sale of assets and disposal of assets	(14)	3
Impairment losses	18
Changes in derivative instruments	(46)	(15)
Changes in deferred income taxes and liability for uncertain tax benefits	19	(2)
Changes in collateral deposits in support of energy risk management activities	9	(123)
Changes in nuclear decommissioning trust liability	8	9
Changes in other working capital	(99)	(234)
Cash provided/(used) by continuing operations	208	(99)
Cash provided by discontinued operations	0	8
Net Cash Provided/(Used) by Operating Activities	208	(91)
Cash Flows from Investing Activities
Intercompany dividends	0	0
Payments for acquisitions of businesses	0	(16)
Capital expenditures	(66)	(49)
Net purchases of /proceeds from emission allowances	(8)	0
Investments in nuclear decommissioning trust fund securities	(121)	(122)
Proceeds from the sale of nuclear decommissioning trust fund securities	112	113
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees	15	1,313
Net distributions from investments in unconsolidated affiliates	0	4
Contributions to discontinued operations	0	(44)
Other	0	(1)
Cash (used)/provided by continuing operations	(68)	1,198
Cash provided by (Used) discontinued operations	0	(2)
Net Cash (Used)/Provided by Investing Activities	(68)	1,196
Cash Flows from Financing Activities
Intercompany dividends and transfers	0	0
Payments of dividends to common stockholders	(74)	(8)
Payments for share repurchase activity	(179)	(783)
Purchase of and distributions to noncontrolling interests from subsidiaries	(2)	(1)
Proceeds from issuance of common stock	0	2
Proceeds from issuance of long-term debt	59	0
Repayments of long-term debt	(60)	(37)
Net proceeds from Revolving Credit Facility	552	0
Other	(3)	0
Cash provided/(used) by continuing operations	293	(827)
Cash provided by discontinued operations	0	43
Net Cash Provided/(Used) by Financing Activities	293	(784)
Change in Cash from discontinued operations	0	49
Net Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	433	272
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	385	613
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	818	885
Eliminations
Cash Flows from Operating Activities
Net Income (Loss)	(265)	(309)
Income from discontinued operations		0
Income from continuing operations		(309)
Adjustments to reconcile net income/(loss) to cash provided by operating activities:
Distributions from and equity in losses of unconsolidated affiliates	265	309
Depreciation and amortization	0	0
Accretion of asset retirement obligations	0	0
Provision for credit losses	0	0
Amortization of nuclear fuel	0	0
Amortization of financing costs and debt discount/premiums	0	0
Loss on debt extinguishment, net	0
Amortization of emissions allowances and energy credits	0	0
Amortization of unearned equity compensation	0	0
Net loss on sale of assets and disposal of assets	0	0
Impairment losses	0
Changes in derivative instruments	0	0
Changes in deferred income taxes and liability for uncertain tax benefits	0	0
Changes in collateral deposits in support of energy risk management activities	0	0
Changes in nuclear decommissioning trust liability	0	0
Changes in other working capital	0	0
Cash provided/(used) by continuing operations		0
Cash provided by discontinued operations		0
Net Cash Provided/(Used) by Operating Activities	0	0
Cash Flows from Investing Activities
Intercompany dividends	(757)	(311)
Payments for acquisitions of businesses		0
Capital expenditures	0	0
Net purchases of /proceeds from emission allowances	0
Investments in nuclear decommissioning trust fund securities	0	0
Proceeds from the sale of nuclear decommissioning trust fund securities	0	0
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees		0
Net distributions from investments in unconsolidated affiliates		0
Contributions to discontinued operations		0
Other		0
Cash (used)/provided by continuing operations		(311)
Cash provided by (Used) discontinued operations		0
Net Cash (Used)/Provided by Investing Activities	(757)	(311)
Cash Flows from Financing Activities
Intercompany dividends and transfers	757	311
Payments of dividends to common stockholders	0	0
Payments for share repurchase activity	0	0
Purchase of and distributions to noncontrolling interests from subsidiaries	0	0
Proceeds from issuance of common stock		0
Proceeds from issuance of long-term debt	0
Repayments of long-term debt	0	0
Net proceeds from Revolving Credit Facility	0
Other	0
Cash provided/(used) by continuing operations		311
Cash provided by discontinued operations		0
Net Cash Provided/(Used) by Financing Activities	757	311
Change in Cash from discontinued operations		0
Net Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	0	0
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	0	0
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	0	0
Guarantor Subsidiaries
Cash Flows from Operating Activities
Net Income (Loss)	269	255
Income from discontinued operations		9
Income from continuing operations		246
Adjustments to reconcile net income/(loss) to cash provided by operating activities:
Distributions from and equity in losses of unconsolidated affiliates	(3)	(10)
Depreciation and amortization	80	54
Accretion of asset retirement obligations	4	5
Provision for credit losses	24	23
Amortization of nuclear fuel	13	13
Amortization of financing costs and debt discount/premiums	0	0
Loss on debt extinguishment, net	0
Amortization of emissions allowances and energy credits	2	6
Amortization of unearned equity compensation	0	0
Net loss on sale of assets and disposal of assets	(8)	0
Impairment losses	0
Changes in derivative instruments	(46)	(29)
Changes in deferred income taxes and liability for uncertain tax benefits	(14)	0
Changes in collateral deposits in support of energy risk management activities	4	(114)
Changes in nuclear decommissioning trust liability	8	9
Changes in other working capital	(130)	(211)
Cash provided/(used) by continuing operations		(8)
Cash provided by discontinued operations		17
Net Cash Provided/(Used) by Operating Activities	203	9
Cash Flows from Investing Activities
Intercompany dividends	0	0
Payments for acquisitions of businesses		(16)
Capital expenditures	(50)	(36)
Net purchases of /proceeds from emission allowances	(8)
Investments in nuclear decommissioning trust fund securities	(121)	(122)
Proceeds from the sale of nuclear decommissioning trust fund securities	112	113
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees	10	1
Net distributions from investments in unconsolidated affiliates		0
Contributions to discontinued operations		0
Other		0
Cash (used)/provided by continuing operations		(60)
Cash provided by (Used) discontinued operations		0
Net Cash (Used)/Provided by Investing Activities	(57)	(60)
Cash Flows from Financing Activities
Intercompany dividends and transfers	(63)	(4)
Payments of dividends to common stockholders	0	0
Payments for share repurchase activity	0	0
Purchase of and distributions to noncontrolling interests from subsidiaries	0	0
Proceeds from issuance of common stock		0
Proceeds from issuance of long-term debt	0
Repayments of long-term debt	(59)	0
Net proceeds from Revolving Credit Facility	0
Other	(3)
Cash provided/(used) by continuing operations		(4)
Cash provided by discontinued operations		0
Net Cash Provided/(Used) by Financing Activities	(125)	(4)
Change in Cash from discontinued operations		17
Net Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	21	(72)
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	37	95
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	58	23
Non-Guarantor Subsidiaries
Cash Flows from Operating Activities
Net Income (Loss)	(4)	54
Income from discontinued operations		5
Income from continuing operations		49
Adjustments to reconcile net income/(loss) to cash provided by operating activities:
Distributions from and equity in losses of unconsolidated affiliates	16	21
Depreciation and amortization	20	23
Accretion of asset retirement obligations	7	2
Provision for credit losses	0	3
Amortization of nuclear fuel	0	0
Amortization of financing costs and debt discount/premiums	0	0
Loss on debt extinguishment, net	0
Amortization of emissions allowances and energy credits	5	0
Amortization of unearned equity compensation	0	0
Net loss on sale of assets and disposal of assets	(1)	0
Impairment losses	18
Changes in derivative instruments	0	5
Changes in deferred income taxes and liability for uncertain tax benefits	11	1
Changes in collateral deposits in support of energy risk management activities	5	(9)
Changes in nuclear decommissioning trust liability	0	0
Changes in other working capital	(14)	(137)
Cash provided/(used) by continuing operations		(42)
Cash provided by discontinued operations		(9)
Net Cash Provided/(Used) by Operating Activities	63	(51)
Cash Flows from Investing Activities
Intercompany dividends	0	0
Payments for acquisitions of businesses		0
Capital expenditures	(6)	(6)
Net purchases of /proceeds from emission allowances	0
Investments in nuclear decommissioning trust fund securities	0	0
Proceeds from the sale of nuclear decommissioning trust fund securities	0	0
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees	0	404
Net distributions from investments in unconsolidated affiliates		4
Contributions to discontinued operations		(44)
Other		0
Cash (used)/provided by continuing operations		358
Cash provided by (Used) discontinued operations		(2)
Net Cash (Used)/Provided by Investing Activities	(6)	356
Cash Flows from Financing Activities
Intercompany dividends and transfers	(56)	(290)
Payments of dividends to common stockholders	0	0
Payments for share repurchase activity	0	0
Purchase of and distributions to noncontrolling interests from subsidiaries	(2)	(1)
Proceeds from issuance of common stock		0
Proceeds from issuance of long-term debt	0
Repayments of long-term debt	(1)	(33)
Net proceeds from Revolving Credit Facility	0
Other	0
Cash provided/(used) by continuing operations		(324)
Cash provided by discontinued operations		43
Net Cash Provided/(Used) by Financing Activities	(59)	(281)
Change in Cash from discontinued operations		32
Net Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	(2)	(8)
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	21	38
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	19	30
NRG Energy, Inc. (Note Issuer)
Cash Flows from Operating Activities
Net Income (Loss)	121	482
Income from discontinued operations		374
Income from continuing operations		108
Adjustments to reconcile net income/(loss) to cash provided by operating activities:
Distributions from and equity in losses of unconsolidated affiliates	(262)	(299)
Depreciation and amortization	9	8
Accretion of asset retirement obligations	0	0
Provision for credit losses	0	0
Amortization of nuclear fuel	0	0
Amortization of financing costs and debt discount/premiums	6	7
Loss on debt extinguishment, net	1
Amortization of emissions allowances and energy credits	0	0
Amortization of unearned equity compensation	5	4
Net loss on sale of assets and disposal of assets	(5)	3
Impairment losses	0
Changes in derivative instruments	0	9
Changes in deferred income taxes and liability for uncertain tax benefits	22	(3)
Changes in collateral deposits in support of energy risk management activities	0	0
Changes in nuclear decommissioning trust liability	0	0
Changes in other working capital	45	114
Cash provided/(used) by continuing operations		(49)
Cash provided by discontinued operations		0
Net Cash Provided/(Used) by Operating Activities	(58)	(49)
Cash Flows from Investing Activities
Intercompany dividends	757	311
Payments for acquisitions of businesses		0
Capital expenditures	(10)	(7)
Net purchases of /proceeds from emission allowances	0
Investments in nuclear decommissioning trust fund securities	0	0
Proceeds from the sale of nuclear decommissioning trust fund securities	0	0
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees	5	908
Net distributions from investments in unconsolidated affiliates		0
Contributions to discontinued operations		0
Other		(1)
Cash (used)/provided by continuing operations		1,211
Cash provided by (Used) discontinued operations		0
Net Cash (Used)/Provided by Investing Activities	752	1,211
Cash Flows from Financing Activities
Intercompany dividends and transfers	(638)	(17)
Payments of dividends to common stockholders	(74)	(8)
Payments for share repurchase activity	(179)	(783)
Purchase of and distributions to noncontrolling interests from subsidiaries	0	0
Proceeds from issuance of common stock		2
Proceeds from issuance of long-term debt	59
Repayments of long-term debt	0	(4)
Net proceeds from Revolving Credit Facility	552
Other	0
Cash provided/(used) by continuing operations		(810)
Cash provided by discontinued operations		0
Net Cash Provided/(Used) by Financing Activities	(280)	(810)
Change in Cash from discontinued operations		0
Net Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	414	352
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	327	480
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	$ 741	$ 832

Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2020

Condensed Consolidating Financial Information Disclosure [Abstract]

Schedule of Guarantor Subsidiaries

Unless otherwise noted below, each of the following guarantor subsidiaries fully and unconditionally guaranteed the Senior Notes and the Senior Secured First Lien Notes as of March 31, 2020:


Ace Energy, Inc.	NRG Distributed Generation PR LLC	Reliant Energy Power Supply, LLC
Allied Home Warranty GP LLC	NRG Dunkirk Operations Inc.	Reliant Energy Retail Holdings, LLC
Allied Warranty LLC	NRG ECOKAP Holdings LLC	Reliant Energy Retail Services, LLC
Arthur Kill Power LLC	NRG El Segundo Operations Inc.	RERH Holdings, LLC
Astoria Gas Turbine Power LLC	NRG Energy Labor Services LLC	Saguaro Power LLC
BidURenergy, Inc.	NRG Energy Services Group LLC	SGE Energy Sourcing, LLC
Cabrillo Power I LLC	NRG Energy Services LLC	SGE Texas Holdco, LLC
Cabrillo Power II LLC	NRG Generation Holdings Inc.	Somerset Operations Inc.
Carbon Management Solutions LLC	NRG Greenco LLC	Somerset Power LLC
Cirro Energy Services, Inc.	NRG Home & Business Solutions LLC	Stream Energy Columbia, LLC
Cirro Group, Inc.	NRG Home Services LLC	Stream Energy Delaware, LLC
Connecticut Jet Power LLC	NRG Home Solutions LLC	Stream Energy Illinois, LLC
Devon Power LLC	NRG Home Solutions Product LLC	Stream Energy Maryland, LLC
Dunkirk Power LLC	NRG Homer City Services LLC	Stream Energy New Jersey, LLC
Eastern Sierra Energy Company LLC	NRG HQ DG LLC	Stream Energy New York, LLC
El Segundo Power II LLC	NRG Huntley Operations Inc.	Stream Energy Pennsylvania, LLC
El Segundo Power, LLC	NRG Identity Protect LLC	Stream Georgia Gas SPE, LLC
Energy Alternatives Wholesale, LLC	NRG Ilion Limited Partnership	Stream Ohio Gas & Electric, LLC
Energy Choice Solutions LLC	NRG Ilion LP LLC	Stream SPE GP, LLC
Energy Plus Holdings LLC	NRG International LLC	Stream SPE, Ltd.
Energy Plus Natural Gas LLC	NRG Maintenance Services LLC	Texas Genco GP, LLC
Energy Protection Insurance Company	NRG Mextrans Inc.	Texas Genco Holdings, Inc.
Everything Energy LLC	NRG MidAtlantic Affiliate Services Inc.	Texas Genco LP, LLC
Forward Home Security, LLC	NRG Middletown Operations Inc.	Texas Genco Services, LP
GCP Funding Company, LLC	NRG Montville Operations Inc.	US Retailers LLC
Green Mountain Energy Company	NRG North Central Operations Inc.	Vienna Operations Inc.
Gregory Partners, LLC	NRG Northeast Affiliate Services Inc.	Vienna Power LLC
Gregory Power Partners LLC	NRG Norwalk Harbor Operations Inc.	WCP (Generation) Holdings LLC
Huntley Power LLC	NRG Operating Services, Inc.	West Coast Power LLC
Independence Energy Alliance LLC	NRG Oswego Harbor Power Operations Inc.	XOOM Alberta Holdings, LLC
Independence Energy Group LLC	NRG PacGen Inc.	XOOM British Columbia Holdings, LLC
Independence Energy Natural Gas LLC	NRG Portable Power LLC	XOOM Energy California, LLC
Indian River Operations Inc.	NRG Power Marketing LLC	XOOM Energy Connecticut, LLC
Indian River Power LLC	NRG Reliability Solutions LLC	XOOM Energy Delaware, LLC
Meriden Gas Turbines LLC	NRG Renter's Protection LLC	XOOM Energy Georgia, LLC
Middletown Power LLC	NRG Retail LLC	XOOM Energy Global Holdings, LLC
Montville Power LLC	NRG Retail Northeast LLC	XOOM Energy Illinois LLC
NEO Corporation	NRG Rockford Acquisition LLC	XOOM Energy Indiana, LLC
New Genco GP, LLC	NRG Saguaro Operations Inc.	XOOM Energy Kentucky, LLC
Norwalk Power LLC	NRG Security LLC	XOOM Energy Maine, LLC
NRG Advisory Services LLC	NRG Services Corporation	XOOM Energy Maryland, LLC
NRG Affiliate Services Inc.	NRG SimplySmart Solutions LLC	XOOM Energy Massachusetts, LLC
NRG Arthur Kill Operations Inc.	NRG South Central Affiliate Services Inc.	XOOM Energy Michigan, LLC
NRG Astoria Gas Turbine Operations Inc.	NRG South Central Operations Inc.	XOOM Energy New Hampshire, LLC
NRG Business Services LLC	NRG South Texas LP	XOOM Energy New Jersey, LLC
NRG Cabrillo Power Operations Inc.	NRG Texas Gregory LLC	XOOM Energy New York, LLC
NRG California Peaker Operations LLC	NRG Texas Holding Inc.	XOOM Energy Ohio, LLC
NRG Cedar Bayou Development Company, LLC	NRG Texas LLC	XOOM Energy Pennsylvania, LLC
NRG Connected Home LLC	NRG Texas Power LLC	XOOM Energy Rhode Island, LLC
NRG Connecticut Affiliate Services Inc.	NRG Warranty Services LLC	XOOM Energy Texas, LLC
NRG Construction LLC	NRG West Coast LLC	XOOM Energy Virginia, LLC
NRG Curtailment Solutions, Inc.	NRG Western Affiliate Services Inc.	XOOM Energy Washington D.C., LLC
NRG Development Company Inc.	O'Brien Cogeneration, Inc. II	XOOM Energy, LLC
NRG Devon Operations Inc.	Oswego Harbor Power LLC	XOOM Ontario Holdings, LLC
NRG Dispatch Services LLC	Reliant Energy Northeast LLC	XOOM Solar, LLC
NRG Distributed Energy Resources Holdings LLC

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the three months ended March 31, 2020

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Operating Revenues
Total operating revenues	$	1,778	$	252	$	—	$	(11)	$	2,019
Operating Costs and Expenses
Cost of operations	1,290		202		(24)		(11)		1,457
Depreciation and amortization	80		19		10		—		109

Selling, general and administrative	140		5		64		—		209
Reorganization costs	—		—		3		—		3
Development costs	—		—		3		—		3
Total operating costs and expenses	1,510		226		56		(11)		1,781

Gain on sale of assets	—		1		5		—		6
Operating Income/(Loss)	268		27		(51)		—		244
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries	3		—		262		(265)		—
Equity in losses of unconsolidated affiliates	—		(11)		—		—		(11)
Impairment losses on investments	—		(18)		—		—		(18)
Other income/(loss), net	3		(1)		25		—		27

Interest expense	(5)		(1)		(92)		—		(98)
Total other income/(expense)	1		(31)		195		(265)		(100)
Income/(Loss) from Continuing Operations Before Income Taxes	269		(4)		144		(265)		144
Income tax expense	—		—		23		—		23




Net Income/(Loss)	$	269	$	(4)	$	121	$	(265)	$	121

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

For the three months ended March 31, 2019

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Operating Revenues
Total operating revenues	$	1,769	$	395	$	—	$	1	$	2,165
Operating Costs and Expenses
Cost of operations	1,358		283		9		1		1,651
Depreciation and amortization	54		23		8		—		85

Selling, general and administrative	122		16		56		—		194
Reorganization costs	—		—		13		—		13
Development costs	—		—		2		—		2
Total operating costs and expenses	1,534		322		88		1		1,945

Gain on sale of assets	1		—		—		—		1
Operating Income/(Loss)	236		73		(88)		—		221
Other Income/(Expense)
Equity in earnings of consolidated subsidiaries	10		—		299		(309)		—
Equity in losses of unconsolidated affiliates	—		(21)		—		—		(21)

Other income, net	4		1		7		—		12

Interest expense	(4)		(4)		(106)		—		(114)
Total other income/(expense)	10		(24)		200		(309)		(123)
Income from Continuing Operations Before Income Taxes	246		49		112		(309)		98
Income tax expense	—		—		4		—		4
Income from Continuing Operations	246		49		108		(309)		94
Income from discontinued operations, net of income tax	9		5		374		—		388


Net Income	$	255	$	54	$	482	$	(309)	$	482

(a)All significant intercompany transactions have been eliminated in consolidation

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME /(LOSS)

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

For the three months ended March 31, 2020

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Net Income/(Loss)	$	269	$	(4)	$	121	$	(265)	$	121
Other Comprehensive Loss

Foreign currency translation adjustments, net	(15)		(15)		(15)		30		(15)

Defined benefit plans, net	2		—		—		(2)		—
Other comprehensive loss	(13)		(15)		(15)		28		(15)


Comprehensive Income/(Loss)	$	256	$	(19)	$	106	$	(237)	$	106

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

For the three months ended March 31, 2019

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Net Income	$	255	$	54	$	482	$	(309)	$	482
Other Comprehensive Income/(Loss)

Foreign currency translation adjustments, net	1		1		1		(2)		1

Defined benefit plans, net	—		—		(3)		—		(3)
Other comprehensive income/(loss)	1		1		(2)		(2)		(2)


Comprehensive Income	$	256	$	55	$	480	$	(311)	$	480

(a)All significant intercompany transactions have been eliminated in consolidation

CONDENSED CONSOLIDATING BALANCE SHEETS

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

March 31, 2020

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	—	$	19	$	740	$	—	$	759
Funds deposited by counterparties	51		—		—		—		51
Restricted cash	7		—		1		—		8
Accounts receivable, net	1,684		137		533		(1,439)		915
Inventory	287		85		—		—		372
Derivative instruments	882		35		—		(33)		884
Cash collateral paid in support of energy risk management activities	197		3		—		—		200

Prepayments and other current assets	222		8		60		—		290


Total current assets	3,330		287		1,334		(1,472)		3,479
Property, plant and equipment, net	1,372		1,046		155		—		2,573
Other Assets
Investment in subsidiaries	158		—		5,122		(5,280)		—
Equity investments in affiliates	—		350		—		—		350

Operating lease right-of-use assets, net	79		251		116		—		446
Goodwill	400		179		—		—		579
Intangible assets, net	729		40		—		—		769
Nuclear decommissioning trust fund	702		—		—		—		702
Derivative instruments	434		13		—		(13)		434
Deferred income taxes	435		(32)		2,862		—		3,265
Other non-current assets	163		27		35		—		225


Total other assets	3,100		828		8,135		(5,293)		6,770
Total Assets	$	7,802	$	2,161	$	9,624	$	(6,765)	$	12,822
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt	$	1	$	4	$	635	$	—	$	640
Current portion of operating lease liabilities	20		31		20		—		71
Accounts payable	1,016		125		1,006		(1,439)		708

Derivative instruments	852		13		—		(33)		832
Cash collateral received in support of energy risk management activities	51		—		—		—		51
Accrued expenses and other current liabilities	259		31		260		—		550



Total current liabilities	2,199		204		1,921		(1,472)		2,852
Other Liabilities
Long-term debt	248		24		5,535		—		5,807
Non-current operating lease liabilities	64		295		114		—		473
Nuclear decommissioning reserve	303		—		—		—		303
Nuclear decommissioning trust liability	390		—		—		—		390

Derivative instruments	382		1		—		(13)		370
Deferred income taxes	—		15		—		—		15
Other non-current liabilities	438		120		518		—		1,076


Total other liabilities	1,825		455		6,167		(13)		8,434
Total Liabilities	4,024		659		8,088		(1,485)		11,286

Stockholders’ Equity	3,778		1,502		1,536		(5,280)		1,536
Total Liabilities and Stockholders’ Equity	$	7,802	$	2,161	$	9,624	$	(6,765)	$	12,822

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

December 31, 2019


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	—	$	20	$	325	$	—	$	345
Funds deposited by counterparties	32		—		—		—		32
Restricted cash	5		1		2		—		8
Accounts receivable, net	1,293		239		233		(740)		1,025
Inventory	272		111		—		—		383
Derivative instruments	856		45		—		(41)		860
Cash collateral paid in support of energy risk management activities	182		8		—		—		190

Prepayments and other current assets	170		8		67		—		245


Total current assets	2,810		432		627		(781)		3,088
Property, plant and equipment, net	1,483		952		158		—		2,593
Other Assets
Investment in subsidiaries	710		—		4,785		(5,495)		—
Equity investments in affiliates	—		388		—		—		388

Operating lease right-of-use assets, net	81		261		122		—		464
Goodwill	359		220		—		—		579
Intangible assets, net	375		414		—		—		789
Nuclear decommissioning trust fund	794		—		—		—		794
Derivative instruments	308		15		—		(13)		310
Deferred income taxes	421		(19)		2,884		—		3,286
Other non-current assets	145		30		65		—		240


Total other assets	3,193		1,309		7,856		(5,508)		6,850
Total Assets	$	7,486	$	2,693	$	8,641	$	(6,289)	$	12,531
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt	$	—	$	5	$	83	$	—	$	88
Current portion of operating lease liabilities	20		32		21		—		73
Accounts payable	918		141		403		(740)		722

Derivative instruments	797		25		—		(41)		781
Cash collateral received in support of energy risk management activities	32		—		—		—		32
Accrued expenses and other current liabilities	280		44		339		—		663



Total current liabilities	2,047		247		846		(781)		2,359
Other Liabilities
Long-term debt	302		28		5,473		—		5,803
Non-current operating lease liabilities	64		301		118		—		483
Nuclear decommissioning reserve	298		—		—		—		298
Nuclear decommissioning trust liability	487		—		—		—		487

Derivative instruments	334		1		—		(13)		322
Deferred income taxes	—		17		—		—		17
Other non-current liabilities	399		153		532		—		1,084


Total other liabilities	1,884		500		6,123		(13)		8,494
Total Liabilities	3,931		747		6,969		(794)		10,853
Redeemable noncontrolling interest in subsidiaries	—		20		—		—		20
Stockholders’ Equity	3,555		1,926		1,672		(5,495)		1,658
Total Liabilities and Stockholders’ Equity	$	7,486	$	2,693	$	8,641	$	(6,289)	$	12,531

(a)All significant intercompany transactions have been eliminated in consolidation

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the three months ended March 31, 2020

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Cash Flows from Operating Activities
Net income/(loss)	$	269	$	(4)	$	121	$	(265)	$	121


Adjustments to reconcile net income/(loss) to cash provided by operating activities:
Distributions from and equity in earnings/(losses) of unconsolidated affiliates and consolidated subsidiaries	(3)		16		(262)		265		16
Depreciation and amortization	80		20		9		—		109
Accretion of asset retirement obligations	4		7		—		—		11
Provision for credit losses	24		—		—		—		24
Amortization of nuclear fuel	13		—		—		—		13
Amortization of financing costs and debt discount/premiums	—		—		6		—		6
Loss on debt extinguishment, net	—		—		1		—		1
Amortization of emission allowances and energy credits	2		5		—		—		7
Amortization of unearned equity compensation	—		—		5		—		5
Net gain on sale of assets and disposal of assets	(8)		(1)		(5)		—		(14)

Impairment losses	—		18		—		—		18
Changes in derivative instruments	(46)		—		—		—		(46)
Changes in deferred income taxes and liability for uncertain tax benefits	(14)		11		22		—		19
Changes in collateral deposits in support of energy risk management activities	4		5		—		—		9
Changes in nuclear decommissioning trust liability	8		—		—		—		8


Changes in other working capital	(130)		(14)		45		—		(99)


Net Cash Provided/(Used) by Operating Activities	203		63		(58)		—		208
Cash Flows from Investing Activities
Intercompany dividends	—		—		757		(757)		—

Capital expenditures	(50)		(6)		(10)		—		(66)

Net purchases of emission allowances	(8)		—		—		—		(8)
Investments in nuclear decommissioning trust fund securities	(121)		—		—		—		(121)
Proceeds from the sale of nuclear decommissioning trust fund securities	112		—		—		—		112
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees	10		—		5				15






Net Cash (Used)/Provided by Investing Activities	(57)		(6)		752		(757)		(68)
Cash Flows from Financing Activities

Intercompany dividends and transfers	(63)		(56)		(638)		757		—
Payments of dividends to common stockholders	—		—		(74)		—		(74)
Payments for share repurchase activity	—		—		(179)		—		(179)


Purchase of and distributions to noncontrolling interests from subsidiaries	—		(2)		—		—		(2)

Proceeds from issuance of long-term debt	—		—		59		—		59

Repayments of long-term debt	(59)		(1)		—		—		(60)
Net proceeds from Revolving Credit Facility	—		—		552		—		552

Other	(3)		—		—		—		(3)


Net Cash (Used)/Provided by Financing Activities	(125)		(59)		(280)		757		293


Net Increase/(Decrease) in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	21		(2)		414		—		433
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	37		21		327		—		385
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	$	58	$	19	$	741	$	—	$	818

(a)All significant intercompany transactions have been eliminated in consolidation

NRG ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the three months ended March 31, 2019

(Unaudited)


(In millions)	Guarantor Subsidiaries		Non-Guarantor Subsidiaries		NRG Energy, Inc. (Note Issuer)		Eliminations^(a)		Consolidated
Cash Flows from Operating Activities
Net income	$	255	$	54	$	482	$	(309)	$	482
Income from discontinued operations	9		5		374		—		388
Income from continuing operations	246		49		108		(309)		94
Adjustments to reconcile net income to cash provided by operating activities:
Distributions from and equity in earnings/(losses) of unconsolidated affiliates and consolidated subsidiaries	(10)		21		(299)		309		21
Depreciation and amortization	54		23		8		—		85
Accretion of asset retirement obligations	5		2		—		—		7
Provision for credit losses	23		3		—		—		26
Amortization of nuclear fuel	13		—		—		—		13
Amortization of financing costs and debt discount/premiums	—		—		7		—		7

Amortization of emission allowances and energy credits	6		—		—		—		6
Amortization of unearned equity compensation	—		—		4		—		4
Net loss on sale of assets and disposal of assets	—		—		3		—		3


Changes in derivative instruments	(29)		5		9		—		(15)
Changes in deferred income taxes and liability for uncertain tax benefits	—		1		(3)		—		(2)
Changes in collateral deposits in support of energy risk management activities	(114)		(9)		—		—		(123)
Changes in nuclear decommissioning trust liability	9		—		—		—		9


Changes in other working capital	(211)		(137)		114		—		(234)
Cash used by continuing operations	(8)		(42)		(49)		—		(99)
Cash provided/(used) by discontinued operations	17		(9)		—		—		8
Net Cash Provided/(Used) by Operating Activities	9		(51)		(49)		—		(91)
Cash Flows from Investing Activities
Intercompany dividends	—		—		311		(311)		—
Payments for acquisitions of businesses	(16)		—		—		—		(16)
Capital expenditures	(36)		(6)		(7)		—		(49)


Investments in nuclear decommissioning trust fund securities	(122)		—		—		—		(122)
Proceeds from the sale of nuclear decommissioning trust fund securities	113		—		—		—		113
Proceeds from sale of assets, net of cash disposed and sale of discontinued operations, net of fees	1		404		908		—		1,313

Net distributions from investments in unconsolidated affiliates	—		4		—		—		4
Contributions to discontinued operations	—		(44)		—		—		(44)
Other	—		—		(1)		—		(1)
Cash (used)/provided by continuing operations	(60)		358		1,211		(311)		1,198
Cash used by discontinued operations	—		(2)		—		—		(2)
Net Cash (Used)/Provided by Investing Activities	(60)		356		1,211		(311)		1,196
Cash Flows from Financing Activities

Intercompany dividends and transfers	(4)		(290)		(17)		311		—
Payment of dividends to common stockholders	—		—		(8)		—		(8)
Payments for share repurchase activity	—		—		(783)		—		(783)


Net distributions to noncontrolling interests from subsidiaries	—		(1)		—		—		(1)
Proceeds from issuance of common stock	—		—		2		—		2


Payments for long-term debt	—		(33)		(4)		—		(37)



Cash used by continuing operations	(4)		(324)		(810)		311		(827)
Cash provided by discontinued operations	—		43		—		—		43
Net Cash Used by Financing Activities	(4)		(281)		(810)		311		(784)

Change in cash from discontinued operations	17		32		—		—		49
Net (Decrease)/Increase in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	(72)		(8)		352		—		272
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	95		38		480		—		613
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	$	23	$	30	$	832	$	—	$	885

(a)All significant intercompany transactions have been eliminated in consolidation

Related Party Transactions - Schedule of NRG's Material Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Related Party Transaction [Line Items]
Revenue from related parties	$ 15	$ 12
Gladstone
Related Party Transaction [Line Items]
Revenue from related parties	1	1
Ivanpah
Related Party Transaction [Line Items]
Revenue from related parties	13	10
Midway-Sunset
Related Party Transaction [Line Items]
Revenue from related parties	$ 1	$ 1

Accounting for Derivative Instruments and Hedging Activities - Fair value within the derivative instrument valuation (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative Liabilities	$ 1,202	$ 1,103
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Assets	1,318	1,170
Derivative Liabilities	1,202	1,103
Not Designated as Hedging Instrument \| Commodity contracts current
Derivative [Line Items]
Derivative Assets	884	860
Derivative Liabilities	832	781
Not Designated as Hedging Instrument \| Commodity contracts long-term
Derivative [Line Items]
Derivative Assets	434	310
Derivative Liabilities	$ 370	$ 322

Investments Accounted for Using the Equity Method and Variable Interest Entities, or VIEs (Tables)

3 Months Ended

Mar. 31, 2020

Variable Interest Entities Disclosure [Abstract]

Financial Information for Consolidated VIEs

The summarized financial information for the Company's consolidated VIEs consisted of the following:


(In millions)	March 31, 2020		December 31, 2019
Current assets	$	1	$	3
Net property, plant and equipment	—		71
Other long-term assets	26		27
Total assets	27		101
Current liabilities	4		4
Long-term debt	24		24


Other long-term liabilities	4		8
Total liabilities	32		36
Redeemable noncontrolling interest	—		20

Net assets less noncontrolling interest	$	(5)	$	45

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Schedule Of Contract Assets And Liabilities [Line Items]
Deferred customer acquisition costs	$ 133		$ 133
Total accounts receivable, net	915		1,025
Unbilled revenues (included within Accounts receivable, net - Contracts with customers)	328		402
Deferred revenues	87		82
Deferred revenue from contract with customers	27		24
Revenue recognized	13	$ 13
Accounts receivable, net - Contracts with customers
Schedule Of Contract Assets And Liabilities [Line Items]
Total accounts receivable, net	885		1,002
Accounts receivable, net - Derivative instruments
Schedule Of Contract Assets And Liabilities [Line Items]
Total accounts receivable, net	26		18
Accounts receivable, net - Affiliate
Schedule Of Contract Assets And Liabilities [Line Items]
Total accounts receivable, net	$ 4		$ 5

Nuclear Decommissioning Trust Fund - Summary of aggregate fair values and realized gains and losses (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Nuclear decommissioning trust fund
Fair Value	$ 702	$ 794
Unrealized Gains	248	338
Unrealized Losses	6	1
Cash and cash equivalents
Nuclear decommissioning trust fund
Fair Value	21	17
Unrealized Gains	0	0
Unrealized Losses	0	0
U.S. government and federal agency obligations
Nuclear decommissioning trust fund
Fair Value	57	68
Unrealized Gains	10	4
Unrealized Losses	$ 0	$ 0
Weighted-average Maturities (In years)	14 years	11 years
Federal agency mortgage-backed securities
Nuclear decommissioning trust fund
Fair Value	$ 93	$ 100
Unrealized Gains	4	3
Unrealized Losses	$ 0	$ 0
Weighted-average Maturities (In years)	24 years	24 years
Commercial mortgage-backed securities
Nuclear decommissioning trust fund
Fair Value	$ 33	$ 29
Unrealized Gains	1	1
Unrealized Losses	$ 1	$ 1
Weighted-average Maturities (In years)	26 years	24 years
Corporate debt securities
Nuclear decommissioning trust fund
Fair Value	$ 125	$ 109
Unrealized Gains	5	6
Unrealized Losses	$ 4	$ 0
Weighted-average Maturities (In years)	12 years	11 years
Equity securities
Nuclear decommissioning trust fund
Fair Value	$ 368	$ 466
Unrealized Gains	228	324
Unrealized Losses	1	0
Foreign government fixed income securities
Nuclear decommissioning trust fund
Fair Value	5	5
Unrealized Gains	0	0
Unrealized Losses	$ 0	$ 0
Weighted-average Maturities (In years)	10 years	10 years

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Other Balance Sheet Information

The following table presents the accumulated depreciation included in property, plant and equipment, net and accumulated amortization included in intangible assets, net:


(In millions)	March 31, 2020		December 31, 2019

Property, plant and equipment accumulated depreciation	$	1,832	$	1,752
Intangible assets accumulated amortization	1,237		1,262

Credit Losses

On January 1, 2020, the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, or ASU No. 2016-13, using the modified retrospective approach. Following the adoption of the new standard, the Company’s process of estimating expected credit losses remains materially consistent with its historical practice. Information prior to January 1, 2020, which was previously referred to as the allowance and provision for bad debt, has not been restated and continues to be reported under the accounting standards in effect for that period.

Retail trade receivables are reported on the balance sheet net of the allowance for credit losses. The Company accrues an allowance for current expected credit losses based on (i) estimates of uncollectible revenues by analyzing accounts receivable aging and current and reasonable forecasts of expected economic factors including, but not limited to, unemployment rates and weather-related events, (ii) historical collections and delinquencies, and (iii) counterparty credit ratings for commercial and industrial customers.

The following table represents the activity in the allowance for credit losses for the three months ended March 31, 2020:


	(In millions)
Balance at January 1, 2020	$	43
Provision for credit losses	24
Write-offs	(32)
Recoveries collected	4
Balance at March 31, 2020	$	39

Restricted Cash


(In millions)	March 31, 2020		December 31, 2019
Cash and cash equivalents	$	759	$	345
Funds deposited by counterparties	51		32
Restricted cash	8		8
Cash and cash equivalents, funds deposited by counterparties and restricted cash shown in the statement of cash flows	$	818	$	385

Funds deposited by counterparties consist of cash held by the Company as a result of collateral posting obligations from its counterparties. Some amounts are segregated into separate accounts that are not contractually restricted but, based on the Company's intention, are not available for the payment of general corporate obligations. Depending on market fluctuations and the settlement of the underlying contracts, the Company will refund this collateral to the hedge counterparties pursuant to the terms and conditions of the underlying trades. Since collateral requirements fluctuate daily and the Company cannot predict if any collateral will be held for more than twelve months, the funds deposited by counterparties are classified as a current asset on the Company's balance sheet, with an offsetting liability for this cash collateral received within current liabilities.

Restricted cash consists primarily of funds held to satisfy the requirements of certain debt agreements and funds held within the Company's projects that are restricted in their use.

Pension Plan Contributions

On March 27, 2020, the Senate passed the CARES Act to provide necessary emergency relief related to the COVID-19 pandemic. The CARES Act allows NRG and other pension plan sponsors to postpone 2020 contributions until January 1, 2021. As a result, NRG will consider deferring approximately $47 million in cash contributions previously planned to be made to the Company's pension plans in 2020. NRG’s pension and postretirement benefit plans are further described in Note 15, Benefit Plans and Other Postretirement Benefits, to the Company’s 2019 Form 10-K.

Recent Accounting Developments - Guidance Adopted in 2020

ASU 2018-17 — In October 2018, the FASB issued ASU No. 2018-17, Consolidations (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities, or ASU No. 2018-17, in response to stakeholders’ observations that Topic 810, Consolidations, could be improved thereby improving general purpose financial reporting. Specifically, ASU No. 2018-17 requires application of the variable interest entity (VIE) guidance to private companies under common control and consideration of indirect interest held through related parties under common control for determining whether fees paid to decision makers and service providers are variable interests. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. All entities are required to apply the amendments retrospectively. The adoption did not have a material impact on the Company's results of operations, cash flows, or statement of financial position.

ASU 2018-15 — In August 2018, the FASB issued ASU No. 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in Cloud Computing Arrangement That Is a Service Contract, or ASU No. 2018-15. The amendments in ASU No. 2018-15 align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs incurred to develop or obtain internal-use software (and hosting arrangement that include an internal-use software license). The amendment also requires the customer to amortize the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. The Company adopted the amendments effective January 1, 2020 using the prospective approach. The adoption did not have a material impact on the Company's results of operations, cash flows, or statement of financial position.

ASU 2018-13 — In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirement for Fair value Measurement), or ASU No. 2018-13. The amendments in ASU No. 2018-13 eliminate such disclosures as the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and add new disclosure requirements for Level 3 measurements. ASU No. 2018-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Certain disclosures in ASU No. 2018-13 are required to be applied on a retrospective basis and others on a prospective basis. The Company adopted the amendments effective January 1, 2020. As the amendments contemplates changes in disclosures only, it did not have an impact on the Company's results of operations, cash flows, or statement of financial position.

ASU 2016-13 — In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Statements, or ASU No. 2016-13, which was further amended through various updates issued by the FASB thereafter. The guidance in ASU No. 2016-13 provides a new model for recognizing credit losses on financial assets carried at amortized cost using an estimate of expected credit losses, instead of the "incurred loss" methodology previously required for recognizing credit losses that delayed recognition until it was probable that a loss was incurred. The estimate of expected credit losses is to be based on consideration of past events, current conditions and reasonable and supportable forecasts of future conditions. The Company adopted the standard and its subsequent corresponding updates effective January 1, 2020 using the modified retrospective approach. Results for the reporting periods after January 1, 2020 are presented under Topic 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company's adoption of Topic 326 did not have a material impact on the Company's results of operations, cash flows, or statement of financial position.

Recent Accounting Developments - Guidance Not Yet Adopted

ASU 2019-12 — In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, or ASU No. 2019-12, to simplify various aspects related to accounting for income taxes. The guidance in ASU 2019-12 amends the general principles in Topic 740 to eliminate certain exceptions for recognizing deferred taxes for investment, performing intraperiod allocation and calculating income taxes in interim periods. This ASU also includes guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years,. Early adoption is permitted, including adoption in an interim period. The Company is currently in the process of assessing the impact of this guidance on the consolidated financial statements.

Changes in Capital Structure (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Changes in NRG's common shares issued and outstanding

As of March 31, 2020 and December 31, 2019, the Company had 500,000,000 shares of common stock authorized. The following table reflects the changes in NRG's common stock issued and outstanding:


	Issued	Treasury	Outstanding
Balance as of December 31, 2019	421,890,790	(172,894,601)	248,996,189
Shares issued under LTIPs	1,089,103	—	1,089,103

Shares repurchased	—	(4,461,438)	(4,461,438)
Balance as of March 31, 2020	422,979,893	(177,356,039)	245,623,854
Shares issued under LTIPs	1,096	—	1,096
Shares issued under ESPP	—	63,455	63,455
Shares repurchased	—	(1,601,345)	(1,601,345)
Balance as of May 7, 2020	422,980,989	(178,893,929)	244,087,060

Shares Repurchased

The following repurchases have been made during the three months ended March 31, 2020 and through May 7, 2020:


	Total number of shares purchased	Average price paid per share	Amounts paid for shares purchased (in millions)
2020 repurchases:
Repurchases	4,461,438		$	150
Equivalent shares purchased in lieu of tax withholdings on equity compensation issuances^(a)	710,063		27

Total Share Repurchases during the three months ended March 31, 2020	5,171,501	$34.20	177
Repurchases made subsequent to March 31, 2020	1,601,345		$	47
Total Share Repurchases January 1, 2020 through May 7, 2020	6,772,846	$33.05	$	224

(a) NRG elected to pay cash for tax withholding on equity awards instead of issuing actual shares to management. The average price per equivalent shares withheld was $38.24

Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 11, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt amount	$ 6,592		$ 6,042
Long-term Debt, Current Maturities	(640)		(88)
Less debt issuance costs	(63)		(65)
Discounts	(82)		(86)
Total long-term debt	5,807		5,803
Recourse Debt
Debt Instrument [Line Items]
Debt amount	6,560		6,008
Recourse Debt \| Senior Notes, due 2026
Debt Instrument [Line Items]
Debt amount	$ 1,000		1,000
Interest rate, stated percentage	7.25%
Recourse Debt \| Senior Notes, due 2027
Debt Instrument [Line Items]
Debt amount	$ 1,230		1,230
Interest rate, stated percentage	6.625%
Recourse Debt \| Senior Notes, due 2028
Debt Instrument [Line Items]
Debt amount	$ 821		821
Interest rate, stated percentage	5.75%
Recourse Debt \| Senior Notes, due 2029
Debt Instrument [Line Items]
Debt amount	$ 733		733
Interest rate, stated percentage	5.25%
Recourse Debt \| Convertible Senior Notes, due 2048
Debt Instrument [Line Items]
Debt amount	$ 575		575
Interest rate, stated percentage	2.75%
Recourse Debt \| Senior Secured First Lien Notes, due 2024
Debt Instrument [Line Items]
Debt amount	$ 600		600
Interest rate, stated percentage	3.75%
Recourse Debt \| Senior Secured First Lien Notes, due 2029
Debt Instrument [Line Items]
Debt amount	$ 500		500
Interest rate, stated percentage	4.45%
Recourse Debt \| Tax-exempt bonds
Debt Instrument [Line Items]
Debt amount	$ 466		466
Recourse Debt \| Tax-exempt bonds \| Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	1.30%	1.30%
Recourse Debt \| Tax-exempt bonds \| Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	6.00%
Line of Credit \| Revolving Credit Facility \| Revolver Facility
Debt Instrument [Line Items]
Debt amount	$ 635		83
Line of Credit \| Revolving Credit Facility \| Revolver Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Non Recourse Debt
Debt Instrument [Line Items]
Debt amount	$ 32		34
Non Recourse Debt \| Other
Debt Instrument [Line Items]
Debt amount	$ 32		$ 34

Accounting for Derivative Instruments and Hedging Activities - Net notional volume buy/sell of open derivative transactions (Details) shares in Millions, T in Millions, MWh in Millions, MMBTU in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020 MMBTU MWh T shares	Dec. 31, 2019 MMBTU MWh T shares
Short \| Emissions
Volumetric Underlying Derivative Transactions
Derivative, nonmonetary notional amount, mass (ton) \| T	1	3
Short \| Natural Gas
Volumetric Underlying Derivative Transactions
Derivative, nonmonetary notional amount, energy (in MMBtu and MWh) \| MMBTU	152	181
Short \| Capacity
Volumetric Underlying Derivative Transactions
Derivative, nonmonetary notional amount, energy (in MMBtu and MWh) \| MMBTU	1	1
Long \| Renewable Energy Certificates
Volumetric Underlying Derivative Transactions
Derivative, non-monetary notional amount (in shares) \| shares	1	1
Long \| Coal
Volumetric Underlying Derivative Transactions
Derivative, nonmonetary notional amount, mass (ton) \| T	7	10
Long \| Power
Volumetric Underlying Derivative Transactions
Derivative, nonmonetary notional amount, energy (in MMBtu and MWh) \| MWh	46	38

Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue from Contracts with Customer

Disaggregated Revenues

The following tables represent the Company’s disaggregation of revenue from contracts with customers for the three months ended March 31, 2020 and 2019:


	Three months ended March 31, 2020
(In millions)	Texas		East		West/Other		Corporate/Eliminations		Total
Retail revenue:
Mass Market	$	1,032	$	347	$	—	$	(1)	$	1,378
Business Solutions	260		23		—		—		283
Total retail revenue	1,292		370		—		(1)		1,661
Energy revenue^(a)	5		45		75		(1)		124
Capacity revenue^(a)	—		134		15		—		149
Mark-to-market for economic hedging activities^(b)	—		(20)		15		1		(4)

Other revenue^(a)	61		10		20		(2)		89
Total operating revenue	1,358		539		125		(3)		2,019
Less: Lease revenue	—		—		5		—		5
Less: Realized and unrealized ASC 815 revenue	7		39		44		(1)		89

Total revenue from contracts with customers	$	1,351	$	500	$	76	$	(2)	$	1,925
(a) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)	Texas		East		West/Other		Corporate/Eliminations		Total
Energy revenue	$	—	$	35	$	19	$	(1)	$	53
Capacity revenue	—		24		—		—		24
Other revenue	7		—		10		(1)		16
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815


	Three months ended March 31, 2019
(In millions)	Texas		East		West/Other		Corporate/Eliminations		Total
Retail revenue:
Mass Market	$	995	$	320	$	—	$	(2)	$	1,313
Business Solutions	258		18		—		—		276
Total retail revenue	1,253		338		—		(2)		1,589
Energy revenue^(a)	105		126		58		1		290
Capacity revenue^(a)	—		144		12		—		156
Mark-to-market for economic hedging activities^(b)	31		(15)		4		—		20

Other revenue^(a)	77		16		19		(2)		110
Total operating revenue	1,466		609		93		(3)		2,165
Less: Lease revenue	—		—		5		—		5
Less: Realized and unrealized ASC 815 revenue	315		54		12		—		381

Total revenue from contracts with customers	$	1,151	$	555	$	76	$	(3)	$	1,779
(a) The following table represents the realized revenues related to derivative instruments that are accounted for under ASC 815 and included in the amounts above:
(In millions)	Texas		East		West/Other		Corporate/Eliminations		Total
Energy revenue	$	271	$	47	$	2	$	—	$	320
Capacity revenue	—		18		—		—		18
Other revenue	13		4		6		—		23
(b) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815

Contract Asset and Liabilities

The following table reflects the contract assets and liabilities included in the Company’s balance sheet as of March 31, 2020 and December 31, 2019:


(In millions)	March 31, 2020		December 31, 2019
Deferred customer acquisition costs	$	133	$	133

Accounts receivable, net - Contracts with customers	885		1,002

Accounts receivable, net - Derivative instruments	26		18
Accounts receivable, net - Affiliate	4		5
Total accounts receivable, net	$	915	$	1,025

Unbilled revenues (included within Accounts receivable, net - Contracts with customers)	$	328	$	402

Deferred revenues^(a)	87		82

(a) Deferred revenues from contracts with customers for the three months ended March 31, 2020 and the year ended December 31, 2019 were approximately $27 million and $24 million, respectively

Discontinued Operations and Dispositions

3 Months Ended

Mar. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Dispositions

Discontinued Operations

Sale of South Central Portfolio

On February 4, 2019, the Company completed the sale of the South Central Portfolio to Cleco for cash consideration of $1 billion excluding working capital and other adjustments. The Company concluded that the divested business met the criteria for discontinued operations as of December 31, 2018, as the disposition represented a strategic shift in the business in which NRG operates and the criteria for held-for-sale were met. As such, all prior period results for the operations of the South Central Portfolio, except for the Cottonwood facility as discussed below, were reclassified as discontinued operations at

December 31, 2018. In connection with the transaction, NRG also entered into a transition services agreement to provide certain corporate services to the divested business.

The South Central Portfolio includes the 1,153 MW Cottonwood natural gas generating facility. Upon the closing of the sale of the South Central Portfolio, NRG entered into an agreement with Cleco to leaseback the Cottonwood facility through 2025. Due to its continuing involvement with the Cottonwood facility, NRG did not use held-for-sale or discontinued operations treatment in accounting for the Cottonwood facility.

Summarized results of the South Central Portfolio discontinued operations were as follows:


	Three months ended
(In millions)		March 31, 2019
Operating revenues		$	31
Operating costs and expenses		(23)




Gain from operations of discontinued components		8
Gain on disposal of discontinued operations, net of tax		27
Gain from discontinued operations, including disposal, net of tax		$	35

Carlsbad

On February 6, 2018, NRG entered into an agreement with NRG Yield and GIP to sell 100% of its membership interests in Carlsbad Energy Holdings LLC, which owns the Carlsbad project, for $385 million of cash consideration, excluding working capital adjustments. The primary condition to close the Carlsbad transaction was the completion of the sale of NRG Yield and the Renewables Platform. At the time of the sale of NRG Yield and the Renewables Platform in August 2018, the Company concluded that the Carlsbad project met the criteria for discontinued operations and accordingly, all prior period results for Carlsbad were reclassified as discontinued operations. The transaction closed on February 27, 2019. Carlsbad continues to have a ground lease and easement agreement with NRG with an initial term ending in 2039 and two ten year extensions. As a result of the transaction, additional commitments related to the project totaled approximately $23 million as of March 31, 2020 and December 31, 2019.

Summarized results of Carlsbad discontinued operations were as follows:


	Three months ended
(In millions)		March 31, 2019
Operating revenues		$	19
Operating costs and expenses		(9)
Other expenses		(5)
Gain from operations of discontinued components		5


Gain on disposal of discontinued operations, net of tax		348



Gain from discontinued operations, including disposal, net of tax		$	353

Dispositions

The Company completed other asset sales for cash proceeds of $7 million and $10 million during the three months ended March 31, 2020 and 2019, respectively.

Nature of Business and Basis of Presentation - General (Details) MW in Thousands	Mar. 31, 2020 MW
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Generation capacity (in MW)	23

Changes in Capital Structure - Schedule of Repurchases Under Share Repurchase Programs (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended	4 Months Ended
	May 07, 2020	Mar. 31, 2020	May 07, 2020
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)		4,461,438
Subsequent Event
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)	1,601,345
Capital Allocation Plan, Open Market Repurchases
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)		4,461,438
Amounts paid for shares purchased		$ 150
Equivalent Shares In Lieu Of Tax Withholding on Equity Compensation Issuances
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)		710,063
Average price paid per share (in usd per share)		$ 38.24
Amounts paid for shares purchased		$ 27
Capital Allocation Plan
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)		5,171,501
Average price paid per share (in usd per share)		$ 34.20
Amounts paid for shares purchased		$ 177
Capital Allocation Plan \| Subsequent Event
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)	1,601,345		6,772,846
Average price paid per share (in usd per share)			$ 33.05
Amounts paid for shares purchased	$ 47		$ 224

Investments Accounted for Using the Equity Method and Variable Interest Entities, or VIEs (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Investments Accounted for by the Equity Method
Equity investments in affiliates	$ 350	$ 388
Current assets	3,479	3,088
Property, plant and equipment, net	2,573	2,593
Other non-current assets	225	240
Total Assets	12,822	12,531
Current liabilities	2,852	2,359
Long-term debt	6,592	6,042
Other non-current liabilities	1,076	1,084
Total Liabilities	11,286	10,853
Variable Interest Entity, Primary Beneficiary
Investments Accounted for by the Equity Method
Current assets	1	3
Property, plant and equipment, net	0	71
Other non-current assets	26	27
Total Assets	27	101
Current liabilities	4	4
Long-term debt	24	24
Other non-current liabilities	4	8
Total Liabilities	32	36
Redeemable noncontrolling interest	0	20
Net Assets Less Noncontrolling Interest	(5)	$ 45
Agua Caliente
Investments Accounted for by the Equity Method
Equity investments in affiliates	213
Ivampah Master Holdings LLC
Investments Accounted for by the Equity Method
Equity investments in affiliates	$ 6
Economic interest in equity method investments (as a percent)	54.50%