0001013871-22-000027 | 10-Q | XBRL Viewer

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Summary of Significant Accounting Policies - Securitization Proceeds (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Accounting Policies [Abstract]
Uplift securitization proceeds received from ERCOT	$ 689	$ 689	$ 0

Summary of Significant Accounting Policies - Adoption of New Accounting Policy (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jan. 01, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of new accounting guidance	$ 5,130	$ 5,300	$ 5,030		$ 3,600	$ 4,078	$ 2,544	$ 1,517	$ 1,680
Additional Paid-In Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of new accounting guidance	8,450	8,442	8,433		8,531	8,525	8,519	8,513	8,517
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of new accounting guidance	$ 2,584	$ 2,600	$ 2,171		464	$ 971	$ (567)	$ (1,565)	$ (1,403)
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of new accounting guidance					(43)
Debt discount				$ 57
Deferred tax liabilities				14
Cumulative Effect, Period of Adoption, Adjustment \| Additional Paid-In Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of new accounting guidance				(100)	(100)
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of new accounting guidance				$ 57	$ 57

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

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+ Details

Acquisitions and Dispositions - Acquisitions Narrative (Details) $ in Millions	Jan. 05, 2021 USD ($) state province customer
Canada
Business Acquisition [Line Items]
Provinces in which entity operates \| province	8
Direct Energy
Business Acquisition [Line Items]
Customers added (over) \| customer	3,000,000
Purchase price	$ 3,625
Purchase price adjustment	99
Adjusted purchase price	$ 3,724
Direct Energy \| U.S.
Business Acquisition [Line Items]
States in which entity operates \| state	50

Changes in Capital Structure - NRG Common Stock Dividends (Details) - $ / shares		3 Months Ended							12 Months Ended
	Oct. 20, 2022	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021
Subsequent Event [Line Items]
Common stock dividends proposed annual amount (in usd per share)					$ 1.40				$ 1.30
Dividends per common share (in usd per share)			$ 0.35	$ 0.35	$ 0.35	$ 0.325	$ 0.325	$ 0.325
Subsequent Event
Subsequent Event [Line Items]
Common stock dividends declared (in usd per share)	$ 0.35
Subsequent Event \| Forecast
Subsequent Event [Line Items]
Common stock dividends proposed annual amount (in usd per share)		$ 1.51
Annual dividends increase percentage		8.00%
Minimum
Subsequent Event [Line Items]
Common stock, annual dividend growth rate, percentage					7.00%
Maximum
Subsequent Event [Line Items]
Common stock, annual dividend growth rate, percentage					9.00%

Summary of Significant Accounting Policies - Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 333	$ 250
Funds deposited by counterparties	3,134	845
Restricted cash	46	15
Cash and cash equivalents, funds deposited by counterparties and restricted cash shown in the statement of cash flows	$ 3,513	$ 1,110	$ 2,021	$ 3,930

Long-term Debt and Finance Leases - Receivable Securitization and Bilateral Letter of Credit Facilities (Details) - Secured Debt - USD ($)						9 Months Ended
	Oct. 13, 2022	Jul. 26, 2022	May 27, 2022	Apr. 29, 2022	Feb. 09, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Repurchase Facility
Line of Credit Facility [Line Items]
Credit facility borrowing available					$ 150,000,000		$ 800,000,000	$ 75,000,000
Commitment fee						$ 0
Outstanding borrowing						0
Repurchase Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate					1.30%
Receivable Facility
Line of Credit Facility [Line Items]
Credit facility borrowing available		$ 1,000,000,000
Outstanding borrowing						$ 0
Extension of termination, period		1 year
Weighted average interest rate on usage under receivable facility						0.836%
Receivable Facility \| Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit issued						$ 884,000,000
Bilateral Credit Facilities
Line of Credit Facility [Line Items]
Increase to existing revolving facility			$ 50,000,000	$ 100,000,000
Bilateral Credit Facilities \| Subsequent Event
Line of Credit Facility [Line Items]
Increase to existing revolving facility	$ 50,000,000
Bilateral Credit Facilities \| Letter of Credit
Line of Credit Facility [Line Items]
Credit facility borrowing available			$ 675,000,000
Letters of credit issued						$ 592,000,000

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 8,359	$ 6,490	$ 23,825	$ 19,687
Mark-to-market for economic hedging activities	(89)	1,785	2,907	4,023
Revenue	8,510	6,609	23,688	19,943
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	16	(1)	22	(13)
Derivative revenue	(80)	1,793	2,900	4,025
Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(1)	0	(11)	(5)
Revenue	12	14	29	15
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	(1)	0	(1)	0
Retail revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	7,858	5,951	22,379	16,929
Derivative revenue	90
Retail revenue \| Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	1	(1)	(1)
Derivative revenue	0
Energy revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	450	336	1,034	989
Derivative revenue	(1)	41	(2)	120
Energy revenue \| Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	10	4	24	6
Derivative revenue	11	1	24	2
Capacity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	38	189	244	615
Derivative revenue	7	42	29	119
Capacity revenue \| Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
Derivative revenue	0	0	0	0
Derivative revenue
Disaggregation of Revenue [Line Items]
Mark-to-market for economic hedging activities	33	3	(248)	(99)
Less: Realized and unrealized ASC 815 revenue	135	120	(159)	269
Derivative revenue \| Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Mark-to-market for economic hedging activities	4	13	18	19
Less: Realized and unrealized ASC 815 revenue	14	14	41	20
Other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	137	133	307	1,528
Contract amortization	(6)	(3)	(28)	(19)
Other revenue \| Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(2)	(4)	(12)	(9)
Contract amortization	0	0	0	0
Total operating revenue
Disaggregation of Revenue [Line Items]
Revenue	8,510	6,609	23,688	19,943
Total operating revenue \| Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Revenue	12	14	29	15
Other revenue, derivative
Disaggregation of Revenue [Line Items]
Derivative revenue	6	34	(28)	129
Other revenue, derivative \| Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Derivative revenue	(1)	0	(1)	(1)
Home \| Retail revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,049	2,646	8,360	7,391
Home \| Retail revenue \| Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	1	(1)	(1)
Business \| Retail revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4,809	3,305	14,019	9,538
Business \| Retail revenue \| Corporate/Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
Texas \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,134	2,597	7,873	8,233
Revenue	3,149	2,635	7,868	8,362
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	0	0	0	0
Texas \| Retail revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,005	2,503	7,528	6,575
Derivative revenue	0
Texas \| Energy revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	48	18	101	317
Derivative revenue	0	0	0	0
Texas \| Capacity revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0	0
Derivative revenue	0	0	0	0
Texas \| Derivative revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Mark-to-market for economic hedging activities	4	(1)	1	(5)
Less: Realized and unrealized ASC 815 revenue	15	38	(5)	129
Texas \| Other revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	92	115	238	1,475
Contract amortization	0	0	0	0
Texas \| Total operating revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	3,149	2,635	7,868	8,362
Texas \| Other revenue, derivative \| Operating Segments
Disaggregation of Revenue [Line Items]
Derivative revenue	11	39	(6)	134
Texas \| Other revenue, ancillary \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		1,200
Texas \| Home \| Retail revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,074	1,776	5,024	4,484
Texas \| Business \| Retail revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	931	727	2,504	2,091
East \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4,084	3,008	12,520	8,823
Revenue	4,180	3,077	12,414	9,002
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	3	(7)	(10)	(14)
East \| Retail revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,863	2,698	11,784	8,029
Derivative revenue	90
East \| Energy revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	212	201	544	428
Derivative revenue	(39)	38	(13)	122
East \| Capacity revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	38	172	242	568
Derivative revenue	7	42	29	119
East \| Derivative revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Mark-to-market for economic hedging activities	32	(3)	(204)	(53)
Less: Realized and unrealized ASC 815 revenue	93	76	(96)	193
East \| Other revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	45	16	78	45
Contract amortization	(10)	(7)	(30)	(15)
East \| Total operating revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	4,180	3,077	12,414	9,002
East \| Other revenue, derivative \| Operating Segments
Disaggregation of Revenue [Line Items]
Derivative revenue	3	(1)	2	5
East \| Home \| Retail revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	546	470	1,674	1,469
East \| Business \| Retail revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,317	2,228	10,110	6,560
West/Services/Other \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,142	885	3,443	2,636
Revenue	1,169	883	3,377	2,564
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	14	6	33	1
West/Services/Other \| Retail revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	990	749	3,068	2,326
Derivative revenue	0
West/Services/Other \| Energy revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	180	113	365	238
Derivative revenue	27	2	(13)	(4)
West/Services/Other \| Capacity revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	17	2	47
Derivative revenue	0	0	0	0
West/Services/Other \| Derivative revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Mark-to-market for economic hedging activities	(7)	(6)	(63)	(60)
Less: Realized and unrealized ASC 815 revenue	13	(8)	(99)	(73)
West/Services/Other \| Other revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2	6	3	17
Contract amortization	4	4	2	(4)
West/Services/Other \| Total operating revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	1,169	883	3,377	2,564
West/Services/Other \| Other revenue, derivative \| Operating Segments
Disaggregation of Revenue [Line Items]
Derivative revenue	(7)	(4)	(23)	(9)
West/Services/Other \| Home \| Retail revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	429	399	1,663	1,439
West/Services/Other \| Business \| Retail revenue \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 561	$ 350	$ 1,405	$ 887

Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2022

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 and nine months ended September 30, 2022 and 2021:


	Three months ended September 30, 2022
(In millions)	Texas		East		West/Services/Other		Corporate/Eliminations		Total
Retail revenue:
Home(a)	$	2,074	$	546	$	429	$	—	$	3,049
Business	931		3,317		561		—		4,809
Total retail revenue(b)	3,005		3,863		990		—		7,858
Energy revenue(b)	48		212		180		10		450
Capacity revenue(b)	—		38		—		—		38
Mark-to-market for economic hedging activities(c)	4		32		(7)		4		33
Contract amortization	—		(10)		4		—		(6)
Other revenue(b)	92		45		2		(2)		137
Total revenue	3,149		4,180		1,169		12		8,510
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	—		3		14		(1)		16
Less: Realized and unrealized ASC 815 revenue	15		93		13		14		135
Total revenue from contracts with customers	$	3,134	$	4,084	$	1,142	$	(1)	$	8,359
(a) Home includes Services
(b) 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/Services/Other		Corporate/Eliminations		Total
Retail revenue	$	—	$	90	$	—	$	—	$	90
Energy revenue	—		(39)		27		11		(1)
Capacity revenue	—		7		—		—		7
Other revenue	11		3		(7)		(1)		6
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815


	Three months ended September 30, 2021
(In millions)	Texas		East		West/Services/Other		Corporate/Eliminations		Total
Retail revenue:
Home(a)	$	1,776	$	470	$	399	$	1	$	2,646
Business	727		2,228		350		—		3,305
Total retail revenue	2,503		2,698		749		1		5,951
Energy revenue(b)	18		201		113		4		336
Capacity revenue(b)	—		172		17		—		189
Mark-to-market for economic hedging activities(c)	(1)		(3)		(6)		13		3
Contract amortization	—		(7)		4		—		(3)
Other revenue(b)	115		16		6		(4)		133
Total revenue	2,635		3,077		883		14		6,609
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	—		(7)		6		—		(1)
Less: Realized and unrealized ASC 815 revenue	38		76		(8)		14		120
Total revenue from contracts with customers	$	2,597	$	3,008	$	885	$	—	$	6,490
(a) Home includes Services
(b) 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/Services/Other		Corporate/Eliminations		Total
Energy revenue	$	—	$	38	$	2	$	1	$	41
Capacity revenue	—		42		—		—		42
Other revenue	39		(1)		(4)		—		34
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815


	Nine months ended September 30, 2022
(In millions)	Texas		East		West/Services/Other		Corporate/Eliminations		Total
Retail revenue:
Home(a)	$	5,024	$	1,674	$	1,663	$	(1)	$	8,360
Business	2,504		10,110		1,405		—		14,019
Total retail revenue(b)	7,528		11,784		3,068		(1)		22,379
Energy revenue(b)	101		544		365		24		1,034
Capacity revenue(b)	—		242		2		—		244
Mark-to-market for economic hedging activities(c)	1		(204)		(63)		18		(248)
Contract amortization	—		(30)		2		—		(28)
Other revenue(b)	238		78		3		(12)		307
Total revenue	7,868		12,414		3,377		29		23,688
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	—		(10)		33		(1)		22
Less: Realized and unrealized ASC 815 revenue	(5)		(96)		(99)		41		(159)
Total revenue from contracts with customers	$	7,873	$	12,520	$	3,443	$	(11)	$	23,825
(a) Home includes Services
(b) 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/Services/Other		Corporate/Eliminations		Total
Retail revenue	$	—	$	90	$	—	$	—	$	90
Energy revenue	—		(13)		(13)		24		(2)
Capacity revenue	—		29		—		—		29
Other revenue	(6)		2		(23)		(1)		(28)
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815


	Nine months ended September 30, 2021
(In millions)	Texas		East		West/Services/Other		Corporate/Eliminations		Total
Retail revenue:
Home(a)	$	4,484	$	1,469	$	1,439	$	(1)	$	7,391
Business	2,091		6,560		887		—		9,538
Total retail revenue	6,575		8,029		2,326		(1)		16,929
Energy revenue(c)	317		428		238		6		989
Capacity revenue(c)	—		568		47		—		615
Mark-to-market for economic hedging activities(d)	(5)		(53)		(60)		19		(99)
Contract amortization	—		(15)		(4)		—		(19)
Other revenue(b)(c)	1,475		45		17		(9)		1,528
Total revenue	8,362		9,002		2,564		15		19,943
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	—		(14)		1		—		(13)
Less: Realized and unrealized ASC 815 revenue	129		193		(73)		20		269
Total revenue from contracts with customers	$	8,233	$	8,823	$	2,636	$	(5)	$	19,687
(a) Home includes Services
(b) Other Revenue in Texas includes ancillary revenues of $1.2 billion driven by high pricing during Winter Storm Uri
(c) 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/Services/Other		Corporate/Eliminations		Total
Energy revenue	$	—	$	122	$	(4)	$	2	$	120
Capacity revenue	—		119		—		—		119
Other revenue	134		5		(9)		(1)		129
(d) 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 September 30, 2022 and December 31, 2021:


(In millions)	September 30, 2022		December 31, 2021
Deferred customer acquisition costs	$	117	$	133

Accounts receivable, net - Contracts with customers	3,768		3,057
Accounts receivable, net - Accounted for under topics other than ASC 606	290		182
Accounts receivable, net - Affiliate	3		6
Total accounts receivable, net	$	4,061	$	3,245

Unbilled revenues (included within Accounts receivable, net - Contracts with customers)	$	1,464	$	1,574

Deferred revenues(a)	213		227

(a) Deferred revenues from contracts with customers for the nine months ended September 30, 2022 and the year ended December 31, 2021 were approximately $207 million and $224 million, respectively

Summary of Significant Accounting Policies - Other Balance Sheet Information (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Property, plant and equipment accumulated depreciation	$ 1,456	$ 1,308
Intangible assets accumulated amortization	$ 1,989	$ 1,636

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 67	$ 1,618	$ 2,316	$ 2,614
Other Comprehensive (Loss)/Income
Foreign currency translation adjustments	(32)	(11)	(45)	(6)
Defined benefit plans	(2)	1	17	20
Other comprehensive (loss)/income	(34)	(10)	(28)	14
Comprehensive Income	$ 33	$ 1,608	$ 2,288	$ 2,628

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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

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+ Details

Segment Reporting

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Reporting

The Company’s segment structure reflects how management currently makes financial decisions and allocates resources. The Company manages its operations based on the combined results of the retail and wholesale generation businesses with a geographical focus.

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 September 30, 2022
(In millions)	Texas		East		West/Services/Other		Corporate		Eliminations		Total
Revenue	$	3,149	$	4,180	$	1,169	$	—	$	12	$	8,510
Depreciation and amortization	77		39		22		7		—		145
Impairment losses	—		43		—		—		—		43

Gain on sale of assets	22		—		—		—		—		22
Equity in (losses)/earnings of unconsolidated affiliates	(1)		—		12		—		—		11

(Loss)/Income before income taxes	(475)		555		106		(103)		—		83



Net (loss)/income	$	(475)	$	555	$	88	$	(101)	$	—	$	67


	Three months ended September 30, 2021
(In millions)	Texas		East		West/Services/Other		Corporate		Eliminations		Total
Revenue	$	2,635	$	3,077	$	883	$	—	$	14	$	6,609
Depreciation and amortization	84		87		21		7		—		199



Equity in (losses)/earnings of unconsolidated affiliates	(2)		—		17		—		—		15

Income/(loss) before income taxes	251		1,980		140		(208)		—		2,163



Net income/(loss)	$	251	$	1,980	$	126	$	(739)	$	—	$	1,618



	Nine months ended September 30, 2022
(In millions)	Texas		East		West/Services/Other		Corporate		Eliminations		Total
Revenue	$	7,868	$	12,414	$	3,377	$	—	$	29	$	23,688
Depreciation and amortization	230		167		65		23		—		485
Impairment losses	—		198		—		—		—		198

Gain/(loss) on sale of assets	10		—		43		(2)		—		51
Equity in (losses)/earnings of unconsolidated affiliates	(2)		—		2		—		—		—


Income/(loss) before income taxes	1,064		2,085		259		(353)		—		3,055




Net income/(loss)	$	1,064	$	2,086	$	231	$	(1,065)	$	—	$	2,316



	Nine months ended September 30, 2021
(In millions)	Texas		East		West/Services/Other		Corporate		Eliminations		Total
Revenue	$	8,362	$	9,002	$	2,564	$	—	$	15	$	19,943
Depreciation and amortization	245		237		66		21		—		569
Impairment losses	—		306		—		—		—		306

Gain on sale of assets	—		—		17		—		—		17
Equity in (losses)/earnings of unconsolidated affiliates	(3)		—		26		—		—		23

Income/(loss) before income taxes	600		3,119		271		(536)		—		3,454



Net income/(loss)	$	600	$	3,119	$	239	$	(1,344)	$	—	$	2,614

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2022

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 September 30,				Nine months ended September 30,
(In millions)	2022		2021		2022		2021
Revenues from Related Parties Included in Revenue
Gladstone	$	1	$	1	$	2	$	2

Ivanpah(a)	10		9		32		30
Midway-Sunset	2		1		5		4


Total	$	13	$	11	$	39	$	36

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

Long-term Debt and Finance Leases (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Long-term Debt and Finance Leases

Long-term debt and finance leases consisted of the following:


(In millions, except rates)	September 30, 2022		December 31, 2021		Interest rate %
Recourse debt:
Senior Notes, due 2027	$	375	$	375	6.625
Senior Notes, due 2028	821		821		5.750
Senior Notes, due 2029	733		733		5.250
Senior Notes, due 2029	500		500		3.375
Senior Notes, due 2031	1,030		1,030		3.625
Senior Notes, due 2032	1,100		1,100		3.875
Convertible Senior Notes, due 2048(a)	575		575		2.750
Senior Secured First Lien Notes, due 2024	600		600		3.750
Senior Secured First Lien Notes, due 2025	500		500		2.000
Senior Secured First Lien Notes, due 2027	900		900		2.450
Senior Secured First Lien Notes, due 2029	500		500		4.450

Tax-exempt bonds	466		466		1.250 - 4.750

Subtotal recourse debt	8,100		8,100




Finance leases	12		13		various
Subtotal long-term debt and finance leases (including current maturities)	8,112		8,113
Less current maturities	(62)		(4)
Less debt issuance costs	(74)		(83)
Discounts	(2)		(60)
Total long-term debt and finance leases	$	7,974	$	7,966

(a)As of the ex-dividend date of October 31, 2022, the Convertible Senior Notes were convertible at a price of $43.46, which is equivalent to a conversion rate of approximately 23.0116 shares of common stock per $1,000 principal amount.

Schedule of Debt Instrument, Interest Expense

The following table details the interest expense recorded in connection with the Convertible Senior Notes, due 2048:


	Three months ended September 30,						Nine months ended September 30,
($ In millions)	2022			2021			2022			2021
Contractual interest expense	$	4		$	4		$	12		$	12
Amortization of discount and deferred finance costs	—			4			1			12
Total	$	4		$	8		$	13		$	24

Effective Interest Rate	0.76		%	1.34		%	2.28		%	3.99		%

Fair Value of Financial Instruments - Counterparty Credit Risk (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2022
Concentration of Credit Risk
Counterparty credit exposure to a portion of the Company's counterparties		$ 3,200
Collateral held (cash and letters of credit) against counterparty credit exposure to a portion of the Company's counterparties		1,800
Net counterparty credit exposure to a portion of the Company's counterparties		$ 1,400
Company's exposure before collateral expected to roll off (as a percent)		75.00%
Net exposure (as a percent)		100.00%
Counterparty credit risk exposure to certain counterparties, threshold (as a percent)		10.00%
Estimated counterparty credit risk exposure under certain long term agreements for the next 5 years		$ 1,100
Period of estimated counterparty credit risk exposure under certain long term agreements, including California tolling agreements, South Central load obligations and solar power purchase agreements (in years)		5 years
Designated as Hedging Instrument
Concentration of Credit Risk
Counterparty credit exposure to a portion of the Company's counterparties	$ 403
Investment grade
Concentration of Credit Risk
Net exposure (as a percent)		68.00%
Non-Investment grade/Non-Rated
Concentration of Credit Risk
Net exposure (as a percent)		32.00%
Utilities, energy merchants, marketers and other
Concentration of Credit Risk
Net exposure (as a percent)		61.00%
Financial Institutions
Concentration of Credit Risk
Net exposure (as a percent)		39.00%

Impairments	9 Months Ended
Impairments	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Impairments	Impairments 2022 Impairment Losses Astoria Redevelopment Impairment — During the third quarter of 2022, the Company entered into a purchase and sale agreement for the sale of the land and related assets at the Astoria generating site and the planned withdrawal and cancellation of its proposed Astoria redevelopment project. As a result, the Company impaired $43 million of Astoria project spend in the East segment. PJM Asset Impairments — During the second quarter of 2022, the results of the PJM Base Residual Auction for the 2023/2024 delivery year were released leading the Company to revise its long-term view of certain facilities and announce the planned retirement of the Joliet generating facility in May 2023. The Company considered the near-term retirement date of Joliet and the decline in PJM capacity prices to be a trigger for impairment and performed impairment tests on the PJM generating assets and the goodwill associated with Midwest Generation. The Company measured the impairment losses on the PJM generating assets and Midwest Generation goodwill as the difference between the carrying amount and the fair value of the PJM generating assets and Midwest Generation reporting unit, respectively. Fair values were determined using an income approach in which the Company applied a discounted cash flow methodology to the long-term budgets for the plants and reporting unit. Significant inputs impacting the income approach include the Company's long-term view of capacity and fuel prices, projected generation, the physical and economic characteristics of each plant and the reporting unit as a whole, and the discount rate applied to the after-tax cash flow projections. Impairment losses of $20 million and $130 million were recorded in the East segment on the PJM generating assets and Midwest Generation goodwill, respectively. 2021 Impairment Losses PJM Asset Impairments — During the second quarter of 2021, the results of the PJM Base Residual Auction for the 2022/2023 delivery year were released leading the Company to announce the near-term retirement of a significant portion of its PJM coal generating assets in June 2022. The Company considered the decline in PJM capacity prices and the near-term retirement dates of certain assets to be a trigger for impairment and performed impairment tests on the PJM generating assets and the goodwill associated with Midwest Generation. The Company measured the impairment losses on the PJM generating assets and Midwest Generation goodwill as the difference between the carrying amount and the fair value of the PJM generating assets and Midwest Generation reporting unit, respectively. Fair values were determined using an income approach in which the Company applied a discounted cash flow methodology to the long-term budgets for the plants and reporting unit. Significant inputs impacting the income approach include the Company's long-term view of capacity and fuel prices, projected generation, the physical and economic characteristics of each plant, and the discount rate applied to the after-tax cash flow projections. Impairment losses of $271 million and $35 million were recorded in the East segment on the PJM generating assets and Midwest Generation goodwill, respectively.

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

Total

Cumulative Effect, Period of Adoption, Adjustment

Common Stock

Additional Paid-In Capital

Cumulative Effect, Period of Adoption, Adjustment

Retained Earnings/Accumulated Deficit

Cumulative Effect, Period of Adoption, Adjustment

Treasury Stock

Accumulated Other Comprehensive Loss

Beginning balance at Dec. 31, 2020

$ 1,680

$ 4

$ 8,517

$ (1,403)

$ (5,232)

$ (206)

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

Net (loss) income

(82)

Other comprehensive income (loss)

Equity-based awards activity, net

^[1]

(5)

Issuance of common stock

Common stock dividends and dividend equivalents declared

^[2]

(80)

Ending balance at Mar. 31, 2021

1,517

8,513

(1,565)

(5,232)

(203)

Beginning balance at Dec. 31, 2020

1,680

8,517

(1,403)

(5,232)

(206)

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

Net (loss) income

2,614

Other comprehensive income (loss)

Ending balance at Sep. 30, 2021

4,078

8,525

971

(5,230)

(192)

Beginning balance at Mar. 31, 2021

1,517

8,513

(1,565)

(5,232)

(203)

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

Net (loss) income

1,078

Other comprehensive income (loss)

Shares reissuance for ESPP

Equity-based awards activity, net

Common stock dividends and dividend equivalents declared

(80)

Ending balance at Jun. 30, 2021

2,544

8,519

(567)

(5,230)

(182)

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

Net (loss) income

1,618

Other comprehensive income (loss)

(10)

Equity-based awards activity, net

Common stock dividends and dividend equivalents declared

(80)

Ending balance at Sep. 30, 2021

4,078

8,525

971

(5,230)

(192)

Beginning balance at Dec. 31, 2021

3,600

$ (43)

8,531

$ (100)

464

$ 57

(5,273)

(126)

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

Net (loss) income

1,736

Other comprehensive income (loss)

Share repurchases

(187)

Equity-based awards activity, net

^[1]

Common stock dividends and dividend equivalents declared

^[2]

(86)

Ending balance at Mar. 31, 2022

5,030

8,433

2,171

(5,460)

(118)

Beginning balance at Dec. 31, 2021

3,600

$ (43)

8,531

$ (100)

464

$ 57

(5,273)

(126)

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

Net (loss) income

2,316

Other comprehensive income (loss)

(28)

Ending balance at Sep. 30, 2022

5,130

8,450

2,584

(5,754)

(154)

Beginning balance at Mar. 31, 2022

5,030

8,433

2,171

(5,460)

(118)

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

Net (loss) income

513

Other comprehensive income (loss)

$ (2)

(2)

Shares reissuance for ESPP (in shares)

Shares reissuance for ESPP

$ 3

Share repurchases

(168)

Equity-based awards activity, net

Common stock dividends and dividend equivalents declared

(84)

Ending balance at Jun. 30, 2022

5,300

8,442

2,600

(5,626)

(120)

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

Net (loss) income

Other comprehensive income (loss)

(34)

Share repurchases

(128)

Equity-based awards activity, net

Common stock dividends and dividend equivalents declared

(83)

Ending balance at Sep. 30, 2022

$ 5,130

$ 4

$ 8,450

$ 2,584

$ (5,754)

$ (154)

[1]	Includes $(6) million and $(9) million of equivalent shares purchased in lieu of tax withholding on equity compensation issuances for the quarters ended March 31, 2022 and 2021, respectively
[2]	Dividends per common share were $0.35 for the quarters ended September 30, June 30 and March 31, 2022 and $0.325 for the quarters ended September 30, June 30 and March 31, 2021

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]

- Definition

Indicates amendment to accounting standards.

+ References

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+ Details

Accounting for Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Accounting for Derivative Instruments and Hedging Activities

Energy-Related Commodities

As of September 30, 2022, NRG had energy-related derivative instruments extending through 2036. The Company marks these derivatives to market through the statement of operations. NRG has executed energy-related contracts extending through 2038 that qualified for the NPNS exception and were therefore exempt from fair value accounting treatment.

Foreign Exchange Contracts

NRG is exposed to changes in foreign currency primarily associated with the purchase of USD denominated natural gas for its Canadian business. In order to manage the Company's foreign exchange risk, NRG entered into foreign exchange contracts. As of September 30, 2022, NRG had foreign exchange contracts extending through 2026. The Company marks these derivatives to market through the statement of operations.

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 September 30, 2022 and December 31, 2021. 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	September 30, 2022		December 31, 2021
Emissions	Short Ton	1		1
Renewable Energy Certificates	Certificates	11		13
Coal	Short Ton	13		19
Natural Gas	MMBtu	748		813
Oil	Barrels	—		1
Power	MWh	176		185

Foreign Exchange	Dollars	$	502	$	279

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)	September 30, 2022		December 31, 2021		September 30, 2022		December 31, 2021




Derivatives Not Designated as Cash Flow or Fair Value Hedges:


Foreign exchange contracts - current	$	16	$	—	$	—	$	1
Foreign exchange contracts - long-term	14		1		—		—
Commodity contracts - current	9,922		4,613		6,841		3,386
Commodity contracts - long-term	4,900		2,526		2,802		1,412
Total Derivatives Not Designated as Cash Flow or Fair Value Hedges	$	14,852	$	7,140	$	9,643	$	4,799

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 September 30, 2022
Foreign exchange contracts:

Derivative assets	$	30	$	—	$	—	$	30

Commodity contracts:
Derivative assets	$	14,822	$	(8,987)	$	(3,081)	$	2,754
Derivative liabilities	(9,643)		8,987		29		(627)
Total commodity contracts	$	5,179	$	—	$	(3,052)	$	2,127




Total derivative instruments	$	5,209	$	—	$	(3,052)	$	2,157


	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, 2021
Foreign exchange contracts:
Derivative assets	$	1	$	(1)	$	—	$	—
Derivative liabilities	(1)		1		—		—
Total foreign exchange contracts	$	—	$	—	$	—	$	—
Commodity contracts:
Derivative assets	$	7,139	$	(4,440)	$	(831)	$	1,868
Derivative liabilities	(4,798)		4,440		17		(341)
Total commodity contracts	$	2,341	$	—	$	(814)	$	1,527






Total derivative instruments	$	2,341	$	—	$	(814)	$	1,527

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 foreign exchange and commodity hedges are included within revenues and cost of operations.


(In millions)	Three months ended September 30,				Nine months ended September 30,
Unrealized mark-to-market results	2022		2021		2022		2021
Reversal of previously recognized unrealized (gains) on settled positions related to economic hedges	$	(387)	$	(97)	$	(992)	$	(58)
Reversal of acquired (gain)/loss positions related to economic hedges	(15)		(42)		(27)		206
Net unrealized gains on open positions related to economic hedges	313		1,924		3,926		3,875
Total unrealized mark-to-market (losses)/gains for economic hedging activities	(89)		1,785		2,907		4,023
Reversal of previously recognized unrealized losses/(gains) on settled positions related to trading activity	2		(6)		11		(16)

Net unrealized gains/(losses) on open positions related to trading activity	7		14		(18)		18
Total unrealized mark-to-market gains/(losses) for trading activity	9		8		(7)		2
Total unrealized (losses)/gains	$	(80)	$	1,793	$	2,900	$	4,025


	Three months ended September 30,				Nine months ended September 30,
(In millions)	2022		2021		2022		2021
Unrealized gains/(losses) included in revenues - commodities	$	42	$	11	$	(255)	$	(97)
Unrealized (losses)/gains included in cost of operations - commodities	(148)		1,777		3,124		4,121
Unrealized gains included in cost of operations - foreign exchange	26		5		31		1
Total impact to statement of operations - commodities	$	(80)	$	1,793	$	2,900	$	4,025

The reversals of acquired 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 revenue or cost of operations during the same period.

For the nine months ended September 30, 2022 and 2021, the unrealized gains from open economic hedge positions of $3.9 billion and $3.9 billion, respectively, were primarily due to increases in the value of forward positions as a result of increases in natural gas and power prices.

Credit Risk Related Contingent Features

Certain of the Company's trading agreements contain provisions that entitle the counterparty to demand that the Company post additional collateral if the counterparty determines that there has been deterioration in the Company's credit quality, generally termed “adequate assurance” under the agreements, or require the Company to post additional collateral if there were a downgrade in the Company's credit rating. The collateral potentially required for all contracts with adequate assurance clauses that are in a net liability position as of September 30, 2022 was $1.3 billion. The Company is also party to certain marginable agreements under which it has net liability position, but the counterparty has not called for the collateral due, which was approximately $131 million as of September 30, 2022. In the event of a downgrade in the Company's credit rating and if called for by the counterparty, $30 million of additional collateral would be required for all contracts with credit rating contingent features as of September 30, 2022.

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

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
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	ReclassificationsCertain prior period amounts have been reclassified for comparative purposes. The reclassifications did not affect consolidated results from operations, net assets or consolidated cash flows
Credit Losses	Credit Losses Retail trade receivables are reported on the balance sheet net of the allowance for credit losses. The Company accrues a provision 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.
Funds Deposited by Counterparties and Restricted Cash	Funds deposited by counterparties consist of cash held by the Company as a result of collateral posting obligations from its counterparties related to NRG's hedging program. The increase in funds deposited by counterparties is driven by the significant increase in forward positions as a result of increases in natural gas and power prices compared to December 31, 2021. Though some amounts are segregated into separate accounts, not all funds are contractually restricted. Based on the Company's intention, these funds are not available for the payment of general corporate obligations; however, they are available for liquidity management. Depending on market fluctuations and the settlement of the underlying contracts, the Company will refund this collateral to the 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 uses.
Winter Storm Uri Uplift Securitization Proceeds	Winter Storm Uri Uplift Securitization Proceeds The Texas Legislature passed House Bill ("HB") 4492 in May of 2021 for ERCOT to mitigate exceptionally high price adders and ancillary service costs incurred by LSEs during Winter Storm Uri. HB 4492 authorized ERCOT to obtain $2.1 billion of financing to distribute to LSEs that were charged and paid to ERCOT those highly priced ancillary service and ORDPA during Winter Storm Uri. In December 2021, ERCOT filed with the PUCT a calculation of each LSE’s share of proceeds based on the settlement methodology. The Company accounted for the proceeds by analogy to the contribution model within ASC 958-605, Not-for-Profit Entities- Revenue Recognition and the grant model within IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, as a reduction to cost of operations within its consolidated statements of operations in the 2021 annual period for which the proceeds were intended to compensate. The Company received proceeds of $689 million from ERCOT in June 2022.
Recent Accounting Developments	Recent Accounting Developments - Guidance Adopted in 2022 ASU 2020-06 — In August 2020, the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40), or ASU 2020-06. The guidance in ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock. In addition, ASU 2020-06 improves and amends the related earnings per share guidance. The Company adopted this standard on January 1, 2022 using the modified retrospective approach. As a result of the provisions of the amended guidance, the Company recorded a $100 million decrease to additional paid-in capital, a $57 million decrease to debt discount, a $57 million increase to retained earnings and a $14 million decrease to long-term deferred tax liabilities. The adoption of ASU 2020-06 did not have a material impact on the Company's statement of operations, statement of cash flow or earnings per share amounts.
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.
Segment Reporting	The Company’s segment structure reflects how management currently makes financial decisions and allocates resources. The Company manages its operations based on the combined results of the retail and wholesale generation businesses with a geographical focus. 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).

- Definition

Disclosure of accounting policy for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security. Includes, but is not limited to, methodology used to estimate allowance for credit loss, how writeoff of uncollectible amount is recognized, and determination of past due status and nonaccrual status.

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+ Details

Nuclear Decommissioning Trust Fund (Tables)

9 Months Ended

Sep. 30, 2022

Regulated Operations [Abstract]

Summary of aggregate fair values and unrealized gains and losses for the securities held in the trust fund

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 September 30, 2022							As of December 31, 2021
(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	$	17	$	—	$	—	—	$	33	$	—	$	—	—
U.S. government and federal agency obligations	85		—		10		11	112		5		1		10
Federal agency mortgage-backed securities	101		—		12		25	100		2		—		25
Commercial mortgage-backed securities	37		—		4		28	44		1		—		27
Corporate debt securities	104		—		15		13	122		7		1		14
Equity securities	443		301		—		—	593		456		—		—
Foreign government fixed income securities	2		—		—		18	4		—		—		13
Total	$	789	$	301	$	41		$	1,008	$	471	$	2

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

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.


	Nine months ended September 30,
(In millions)	2022		2021
Realized gains	$	12	$	10
Realized losses	(19)		(6)
Proceeds from sale of securities	363		424

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Schedule Of Contract Assets And Liabilities [Line Items]
Deferred customer acquisition costs	$ 117		$ 117		$ 133
Total accounts receivable, net	4,061		4,061		3,245
Unbilled revenues (included within Accounts receivable, net - Contracts with customers)	1,464		1,464		1,574
Deferred revenues	213		213		227
Deferred revenue from contract with customers			207		224
Revenue recognized	159	$ 162	173	$ 23
Accounts receivable, net - Contracts with customers
Schedule Of Contract Assets And Liabilities [Line Items]
Total accounts receivable, net	3,768		3,768		3,057
Accounts receivable, net - Accounted for under topics other than ASC 606
Schedule Of Contract Assets And Liabilities [Line Items]
Total accounts receivable, net	290		290		182
Accounts receivable, net - Affiliate
Schedule Of Contract Assets And Liabilities [Line Items]
Total accounts receivable, net	$ 3		$ 3		$ 6

Changes in Capital Structure - Narrative (Details) - USD ($)	1 Months Ended	9 Months Ended	10 Months Ended	12 Months Ended
	Oct. 31, 2022	Sep. 30, 2022	Oct. 31, 2022	Dec. 31, 2021	Dec. 06, 2021
Class of Stock [Line Items]
ESPP, minimum percentage of eligible compensation to purchase shares		1.00%
ESPP, maximum percentage of eligible compensation		10.00%
ESPP, exercise price as percentage of fair value		95.00%
Subsequent Event
Class of Stock [Line Items]
Stock repurchase program, increase in authorized amount	$ 600,000,000
Capital Allocation Plan
Class of Stock [Line Items]
Stock repurchase program, authorized amount					$ 1,000,000,000
Amounts paid for shares purchased		$ 489,000,000		$ 44,000,000
Average price paid per share (in usd per share)		$ 40.07
Capital Allocation Plan \| Subsequent Event
Class of Stock [Line Items]
Amounts paid for shares purchased			$ 565,000,000
Average price paid per share (in usd per share)			$ 40.28
Capital Allocation Plan, Open Market Repurchases
Class of Stock [Line Items]
Amounts paid for shares purchased		$ 483,000,000
Average price paid per share (in usd per share)		$ 40.04
Capital Allocation Plan, Open Market Repurchases \| Subsequent Event
Class of Stock [Line Items]
Amounts paid for shares purchased	$ 76,000,000
Average price paid per share (in usd per share)	$ 41.71

Investments Accounted for Using the Equity Method and Variable Interest Entities, or VIEs - Summarized Financial Information (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investments Accounted for by the Equity Method
Accounts receivable and Other current assets	$ 18,963	$ 10,841
Current liabilities	14,366	7,915
Variable Interest Entity, Primary Beneficiary
Investments Accounted for by the Equity Method
Accounts receivable and Other current assets	1,269	939
Current liabilities	153	78
Net assets	$ 1,116	$ 861

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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- Definition

Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

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+ Details

Long-term Debt and Finance Leases - Schedule of Long-term Debt and Finance Leases (Details) $ / shares in Units, $ in Millions		9 Months Ended
	Oct. 31, 2022 $ / shares	Sep. 30, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Finance leases		$ 12	$ 13
Subtotal long-term debt and finance leases (including current maturities)		8,112	8,113
Less current maturities		(62)	(4)
Less debt issuance costs		(74)	(83)
Discounts		(2)	(60)
Total long-term debt and finance leases		7,974	7,966
Recourse Debt
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		8,100	8,100
Recourse Debt \| Senior Notes, due 2027
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 375	375
Interest rate, stated percentage		6.625%
Recourse Debt \| Senior Notes, due 2028
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 821	821
Interest rate, stated percentage		5.75%
Recourse Debt \| Senior Notes, due 2029
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 733	733
Interest rate, stated percentage		5.25%
Recourse Debt \| Senior Notes, due 2029
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 500	500
Interest rate, stated percentage		3.375%
Recourse Debt \| Senior Notes, due 2031
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 1,030	1,030
Interest rate, stated percentage		3.625%
Recourse Debt \| Senior Notes, due 2032
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 1,100	1,100
Interest rate, stated percentage		3.875%
Recourse Debt \| Convertible Senior Notes due 2048
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 575	575
Interest rate, stated percentage		2.75%
Convertible notes, conversion price (in usd per share) \| $ / shares		$ 43.77
Conversion rate		0.0228467
Recourse Debt \| Convertible Senior Notes due 2048 \| Subsequent Event
Debt Instrument [Line Items]
Convertible notes, conversion price (in usd per share) \| $ / shares	$ 43.46
Conversion rate	0.0230116
Recourse Debt \| Senior Secured First Lien Notes, due 2024
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 600	600
Interest rate, stated percentage		3.75%
Recourse Debt \| Senior Secured First Lien Notes, due 2025
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 500	500
Interest rate, stated percentage		2.00%
Recourse Debt \| Senior Secured First Lien Notes, due 2027
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 900	900
Interest rate, stated percentage		2.45%
Recourse Debt \| Senior Secured First Lien Notes, due 2029
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 500	500
Interest rate, stated percentage		4.45%
Recourse Debt \| Tax-exempt bonds
Debt Instrument [Line Items]
Subtotal long-term debt (including current maturities)		$ 466	$ 466
Recourse Debt \| Tax-exempt bonds \| Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage		1.25%
Recourse Debt \| Tax-exempt bonds \| Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage		4.75%

Fair Value of Financial Instruments - Estimated Carrying Amounts and Fair Value of Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Total long-term debt, including current portion	$ 8,098	$ 8,040
Carrying Amount \| Convertible Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Total long-term debt, including current portion	575	518
Carrying Amount \| Other long-term debt, including current portion
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Total long-term debt, including current portion	7,523	7,522
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Total long-term debt, including current portion	7,084	8,327
Fair Value \| Convertible Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Total long-term debt, including current portion	611	677
Fair Value \| Other long-term debt, including current portion
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Total long-term debt, including current portion	$ 6,473	$ 7,650

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Fair Value of Financial Instruments - Assets and Liabilities Measured and Recorded at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in securities (classified within other current and non-current assets)	$ 19	$ 32
Other trust fund investments (classified within other non-current assets):
U.S. government and federal agency obligations	1	1
Measured using net asset value practical expedient:
Total assets	15,667	8,188
Derivative liabilities:
Commodity contracts	9,643	4,799
Foreign exchange contract
Derivative assets:
Derivative contracts	30	1
Derivative liabilities:
Commodity contracts		1
Commodity contracts
Derivative assets:
Derivative contracts	14,822	7,139
Derivative liabilities:
Commodity contracts	9,643	4,798
Cash and cash equivalents
Nuclear trust fund investments:
Nuclear trust fund investments	17	33
U.S. government and federal agency obligations
Nuclear trust fund investments:
Nuclear trust fund investments	85	112
Federal agency mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	101	100
Commercial mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	37	44
Corporate debt securities
Nuclear trust fund investments:
Nuclear trust fund investments	104	122
Equity securities
Nuclear trust fund investments:
Nuclear trust fund investments	372	494
Measured using net asset value practical expedient:
Equity securities	6	7
Foreign government fixed income securities
Nuclear trust fund investments:
Nuclear trust fund investments	2	4
Equity securities — nuclear trust fund investments
Measured using net asset value practical expedient:
Equity securities	71	99
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	15
Other trust fund investments (classified within other non-current assets):
U.S. government and federal agency obligations	1	1
Measured using net asset value practical expedient:
Total assets	3,346	1,635
Derivative liabilities:
Commodity contracts	1,228	626
Level 1 \| Foreign exchange contract
Derivative assets:
Derivative contracts	0	0
Derivative liabilities:
Commodity contracts		0
Level 1 \| Commodity contracts
Derivative assets:
Derivative contracts	2,873	981
Derivative liabilities:
Commodity contracts	1,228	626
Level 1 \| Cash and cash equivalents
Nuclear trust fund investments:
Nuclear trust fund investments	17	33
Level 1 \| U.S. government and federal agency obligations
Nuclear trust fund investments:
Nuclear trust fund investments	83	111
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	372	494
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)	19	17
Other trust fund investments (classified within other non-current assets):
U.S. government and federal agency obligations	0	0
Measured using net asset value practical expedient:
Total assets	11,231	5,990
Derivative liabilities:
Commodity contracts	8,084	4,009
Level 2 \| Foreign exchange contract
Derivative assets:
Derivative contracts	30	1
Derivative liabilities:
Commodity contracts		1
Level 2 \| Commodity contracts
Derivative assets:
Derivative contracts	10,936	5,701
Derivative liabilities:
Commodity contracts	8,084	4,008
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	2	1
Level 2 \| Federal agency mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	101	100
Level 2 \| Commercial mortgage-backed securities
Nuclear trust fund investments:
Nuclear trust fund investments	37	44
Level 2 \| Corporate debt securities
Nuclear trust fund investments:
Nuclear trust fund investments	104	122
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	2	4
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 (classified within other non-current assets):
U.S. government and federal agency obligations	0	0
Measured using net asset value practical expedient:
Total assets	1,013	457
Derivative liabilities:
Commodity contracts	331	164
Level 3 \| Foreign exchange contract
Derivative assets:
Derivative contracts	0	0
Derivative liabilities:
Commodity contracts		0
Level 3 \| Commodity contracts
Derivative assets:
Derivative contracts	1,013	457
Derivative liabilities:
Commodity contracts	331	164
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

Nuclear Decommissioning Trust Fund - Summary of Proceeds from Sales of Available-for-sale Securities and Related Gains and Losses (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Regulated Operations [Abstract]
Realized gains	$ 12	$ 10
Realized losses	(19)	(6)
Proceeds from sale of securities	$ 363	$ 424

Income Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

NRG's basic and diluted (loss)/income per share

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


	Three months ended September 30,				Nine months ended September 30,
(In millions, except per share data)	2022		2021		2022		2021
Basic and diluted income per share:
Net income	$	67	$	1,618	$	2,316	$	2,614
Weighted average number of common shares outstanding - basic and diluted	235		245		238		245
Income per weighted average common share — basic and diluted	$	0.29	$	6.60	$	9.73	$	10.67

Accounting for Derivative Instruments and Hedging Activities - Fair Value within the Derivative Instrument Valuation (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative Liabilities	$ 9,643	$ 4,799
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Assets	14,852	7,140
Derivative Liabilities	9,643	4,799
Not Designated as Hedging Instrument \| Foreign exchange contracts - current
Derivative [Line Items]
Derivative Assets	16	0
Derivative Liabilities	0	1
Not Designated as Hedging Instrument \| Foreign exchange contracts - long-term
Derivative [Line Items]
Derivative Assets	14	1
Derivative Liabilities	0	0
Not Designated as Hedging Instrument \| Commodity contracts - current
Derivative [Line Items]
Derivative Assets	9,922	4,613
Derivative Liabilities	6,841	3,386
Not Designated as Hedging Instrument \| Commodity contracts - long-term
Derivative [Line Items]
Derivative Assets	4,900	2,526
Derivative Liabilities	$ 2,802	$ 1,412

Summary of Significant Accounting Policies - Goodwill (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2022
Goodwill [Roll Forward]
Balance beginning of period			$ 1,795
Impairment	$ (130)		(130)
Asset sales			(6)
Foreign Currency Translation			9
Balance end of period			1,650
Texas
Goodwill [Roll Forward]
Balance beginning of period			751
Impairment			0
Asset sales			(6)
Foreign Currency Translation			0
Balance end of period			745
East
Goodwill [Roll Forward]
Balance beginning of period			853
Impairment		$ (35)	(130)
Asset sales			0
Foreign Currency Translation			0
Balance end of period			723
West/Services/Other
Goodwill [Roll Forward]
Balance beginning of period			191
Impairment			0
Asset sales			0
Foreign Currency Translation			9
Balance end of period			$ 182

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Summary of Significant Accounting Policies - Activity in the Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 627	$ 761	$ 683	$ 67
Acquired balance from Direct Energy	0	0	0	112
Provision for credit losses	52	64	103	715
Write-offs	(50)	(41)	(171)	(124)
Recoveries collected	9	8	23	22
Ending balance	$ 638	$ 792	638	$ 792
Decrease in provision for credit losses due finance hedge risk			403
Decrease in provision for credit losses due to counterparty credit risk			152
Decrease in provision for credit losses due to shortfall payments			$ 83

Changes in Capital Structure - Schedule of Repurchases Under Share Repurchase Programs (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	9 Months Ended	10 Months Ended	12 Months Ended
	Oct. 31, 2022	Sep. 30, 2022	Oct. 31, 2022	Dec. 31, 2021
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)		12,045,068
Accrued stock repurchases		$ 10
Subsequent Event
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)	1,817,278
Accrued stock repurchases	$ 6		$ 6
Capital Allocation Plan, Open Market Repurchases
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)		12,045,068
Average price paid per share (in usd per share)		$ 40.04
Amounts paid for shares and share equivalents purchased		$ 483
Capital Allocation Plan, Open Market Repurchases \| Subsequent Event
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)	1,817,278
Average price paid per share (in usd per share)	$ 41.71
Amounts paid for shares and share equivalents purchased	$ 76
Equivalent Shares in Lieu of Tax Withholding on Equity Compensation Issuances
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)		150,448
Average price paid per share (in usd per share)		$ 42.75
Amounts paid for shares and share equivalents purchased		$ 6
Equivalent Shares in Lieu of Tax Withholding on Equity Compensation Issuances \| Subsequent Event
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)	793
Average price paid per share (in usd per share)	$ 41.04
Amounts paid for shares and share equivalents purchased	$ 0
Capital Allocation Plan
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)		12,195,516
Average price paid per share (in usd per share)		$ 40.07
Amounts paid for shares and share equivalents purchased		$ 489		$ 44
Capital Allocation Plan \| Subsequent Event
Schedule of Capitalization, Equity [Line Items]
Total number of shares purchased (in shares)			14,013,587
Average price paid per share (in usd per share)			$ 40.28
Amounts paid for shares and share equivalents purchased			$ 565

Accounting for Derivative Instruments and Hedging Activities - Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid
Cash collateral received in support of energy risk management activities	$ (3,134)	$ (845)
Derivative liabilities	(9,643)	(4,799)
Cash Collateral Posted	262	291
Total Derivative Contracts
Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid
Gross Amounts of Recognized Assets / Liabilities	5,209	2,341
Derivative Instruments	0	0
Cash Collateral (Held) / Posted	(3,052)	(814)
Net Amount	2,157	1,527
Foreign exchange contract
Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid
Derivative assets	30	1
Derivative Instruments	0	(1)
Cash collateral received in support of energy risk management activities	0	0
Net Amount	30	0
Derivative liabilities		(1)
Derivative Instruments		1
Cash Collateral Posted		0
Net Amount		0
Gross Amounts of Recognized Assets / Liabilities		0
Derivative Instruments		0
Cash Collateral (Held) / Posted		0
Net Amount		0
Commodity contracts
Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid
Derivative assets	14,822	7,139
Derivative Instruments	(8,987)	(4,440)
Cash collateral received in support of energy risk management activities	(3,081)	(831)
Net Amount	2,754	1,868
Derivative liabilities	(9,643)	(4,798)
Derivative Instruments	8,987	4,440
Cash Collateral Posted	29	17
Net Amount	(627)	(341)
Gross Amounts of Recognized Assets / Liabilities	5,179	2,341
Derivative Instruments	0	0
Cash Collateral (Held) / Posted	(3,052)	(814)
Net Amount	$ 2,127	$ 1,527

Regulatory Matters	9 Months Ended
Regulatory Matters	Sep. 30, 2022
Regulatory Matters Disclosure [Abstract]
Regulatory Matters	Regulatory Matters Environmental regulatory matters are discussed within Note 18, Environmental Matters. NRG operates in a highly regulated industry and is subject to regulation by various federal, state and provincial agencies. As such, NRG is affected by regulatory developments at the federal, state and provincial 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 wholesale and retail operations. In addition to the regulatory proceeding 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.

Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Reporting (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information
Revenues	$ 8,510	$ 6,609	$ 23,688	$ 19,943
Depreciation and amortization	145	199	485	569
Impairment losses	43	0	198	306
Gain (loss) on sale of assets	22		51	17
Equity in (losses)/earnings of unconsolidated affiliates	11	15	0	23
Income/(loss) before income taxes	83	2,163	3,055	3,454
Net income /(loss)	67	1,618	2,316	2,614
Corporate
Segment Reporting Information
Revenues	0	0	0	0
Depreciation and amortization	7	7	23	21
Impairment losses	0		0	0
Gain (loss) on sale of assets	0		(2)	0
Equity in (losses)/earnings of unconsolidated affiliates	0	0	0	0
Income/(loss) before income taxes	(103)	(208)	(353)	(536)
Net income /(loss)	(101)	(739)	(1,065)	(1,344)
Eliminations
Segment Reporting Information
Revenues	12	14	29	15
Depreciation and amortization	0	0	0	0
Impairment losses	0		0	0
Gain (loss) on sale of assets	0		0	0
Equity in (losses)/earnings of unconsolidated affiliates	0	0	0	0
Income/(loss) before income taxes	0	0	0	0
Net income /(loss)	0	0	0	0
Texas \| Operating Segments
Segment Reporting Information
Revenues	3,149	2,635	7,868	8,362
Depreciation and amortization	77	84	230	245
Impairment losses	0		0	0
Gain (loss) on sale of assets	22		10	0
Equity in (losses)/earnings of unconsolidated affiliates	(1)	(2)	(2)	(3)
Income/(loss) before income taxes	(475)	251	1,064	600
Net income /(loss)	(475)	251	1,064	600
East \| Operating Segments
Segment Reporting Information
Revenues	4,180	3,077	12,414	9,002
Depreciation and amortization	39	87	167	237
Impairment losses	43		198	306
Gain (loss) on sale of assets	0		0	0
Equity in (losses)/earnings of unconsolidated affiliates	0	0	0	0
Income/(loss) before income taxes	555	1,980	2,085	3,119
Net income /(loss)	555	1,980	2,086	3,119
West/Services/Other \| Operating Segments
Segment Reporting Information
Revenues	1,169	883	3,377	2,564
Depreciation and amortization	22	21	65	66
Impairment losses	0		0	0
Gain (loss) on sale of assets	0		43	17
Equity in (losses)/earnings of unconsolidated affiliates	12	17	2	26
Income/(loss) before income taxes	106	140	259	271
Net income /(loss)	$ 88	$ 126	$ 231	$ 239

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

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 value and fair value of the Company's financial instruments not carried at fair market value are as follows:


	September 30, 2022				December 31, 2021
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value




Convertible Senior Notes	$	575	$	611	$	518	$	677
Other long-term debt, including current portion	7,523		6,473		7,522		7,650
Total long-term debt, including current portion(a)	$	8,098	$	7,084	$	8,040	$	8,327

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

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

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:


	September 30, 2022

(In millions)	Total		Level 1		Level 2		Level 3
Investments in securities (classified within other current and non-current assets)	$	19	$	—	$	19	$	—

Nuclear trust fund investments:
Cash and cash equivalents	17		17		—		—
U.S. government and federal agency obligations	85		83		2		—
Federal agency mortgage-backed securities	101		—		101		—
Commercial mortgage-backed securities	37		—		37		—
Corporate debt securities	104		—		104		—
Equity securities	372		372		—		—
Foreign government fixed income securities	2		—		2		—
Other trust fund investments (classified within other non-current assets):
U.S. government and federal agency obligations	1		1		—		—
Derivative assets:
Foreign exchange contracts	30		—		30		—
Commodity contracts	14,822		2,873		10,936		1,013


Measured using net asset value practical expedient:
Equity securities — nuclear trust fund investments	71
Equity securities (classified within other non-current assets)	6
Total assets	$	15,667	$	3,346	$	11,231	$	1,013
Derivative liabilities:

Commodity contracts	9,643		1,228		8,084		331
Total liabilities	$	9,643	$	1,228	$	8,084	$	331


	December 31, 2021

(In millions)	Total		Level 1		Level 2		Level 3
Investments in securities (classified within other current and non-current assets)	$	32	$	15	$	17	$	—
Nuclear trust fund investments:
Cash and cash equivalents	33		33		—		—
U.S. government and federal agency obligations	112		111		1		—
Federal agency mortgage-backed securities	100		—		100		—
Commercial mortgage-backed securities	44		—		44		—
Corporate debt securities	122		—		122		—
Equity securities	494		494		—		—
Foreign government fixed income securities	4		—		4		—
Other trust fund investments (classified within other non-current assets):
U.S. government and federal agency obligations	1		1		—		—
Derivative assets:
Foreign exchange contracts	1		—		1		—
Commodity contracts	7,139		981		5,701		457


Measured using net asset value practical expedient:
Equity securities — nuclear trust fund investments	99
Equity securities (classified within other non-current assets)	7
Total assets	$	8,188	$	1,635	$	5,990	$	457
Derivative liabilities:
Foreign exchange contracts	$	1	$	—	$	1	$	—
Commodity contracts	4,798		626		4,008		164

Total liabilities	$	4,799	$	626	$	4,009	$	164

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

The following table reconciles, for the three and nine months ended September 30, 2022 and 2021, 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)
	Derivatives(a)
(In millions)	Three months ended September 30, 2022		Three months ended September 30, 2021		Nine months ended September 30, 2022		Nine months ended September 30, 2021

Beginning balance	$	1,403	$	574	$	293	$	(16)
Contracts added from Direct Energy acquisition	—		—		—		(15)

Total (losses)/gains realized/unrealized — included in earnings	(314)		(175)		145		187


Purchases	60		—		89		78
Transfers into Level 3(b)	(466)		(108)		155		64
Transfers out of Level 3(b)	(1)		20		—		13
Ending balance	$	682	$	311	$	682	$	311
(Losses)/gains 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	$	(240)	$	(237)	$	294	$	184

(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 September 30, 2022 and December 31, 2021:



	September 30, 2022
	Fair Value						Input/Range
(In millions)	Assets		Liabilities		Valuation Technique	Significant Unobservable Input	Low		High		Weighted Average
Natural Gas Contracts	$	90	$	46	Discounted Cash Flow	Forward Market Price (per MMBtu)	$	3	$	35	$	11
Power Contracts	842		221		Discounted Cash Flow	Forward Market Price (per MWh)	20		263		55
FTRs	81		64		Discounted Cash Flow	Auction Prices (per MWh)	(67)		46		1
	$	1,013	$	331



	December 31, 2021
	Fair Value						Input/Range
(In millions)	Assets		Liabilities		Valuation Technique	Significant Unobservable Input	Low		High		Weighted Average
Natural Gas Contracts	$	16	$	1	Discounted Cash Flow	Forward Market Price (per MMBtu)	$	3	$	40	$	15
Power Contracts	392		121		Discounted Cash Flow	Forward Market Price (per MWh)	3		212		35
FTRs	49		42		Discounted Cash Flow	Auction Prices (per MWh)	(122)		43		0
	$	457	$	164

Fair value inputs, sensitivity analysis

The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of September 30, 2022 and December 31, 2021:

Significant Unobservable Input

Position

Change In Input

Impact on Fair Value Measurement

Forward Market Price Natural Gas/Power

Buy

Increase/(Decrease)

Higher/(Lower)

Forward Market Price Natural Gas/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	61	%
Financial institutions	39

Total as of September 30, 2022	100	%


	Net Exposure (a)(b)
Category by Counterparty Credit Quality	(% of Total)
Investment grade	68	%
Non-investment grade/non-rated	32
Total as of September 30, 2022	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

Investments Accounted for Using the Equity Method and Variable Interest Entities, or VIEs - Narrative (Details) - Watson Facility $ in Millions	Jun. 01, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Ownership interest	49.00%
Proceeds from sale of investment	$ 59

Income Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Income 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 relative performance stock units, non-vested restricted stock units, market stock units, and non-qualified stock options 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 for periods when we have net income. The Convertible Senior Notes are convertible, under certain circumstances, into cash or combination of cash and Company’s common stock. Prior to adoption of ASU 2020-06, there was no dilutive effect for the Convertible Senior Notes due to the Company’s expectation to settle the liability in cash. Upon adoption of ASU 2020-06, on January 1, 2022, the Company is including the potential share settlements, if any, in the denominator for purposes of computing diluted income per share under the if converted method for periods when we have net income. The potential shares settlements are calculated as the excess of the Company's conversion obligation over the aggregate principal amount (which will be settled in cash), divided by the average share price for the period. For the periods ended September 30, 2022, there was no dilutive effect for the Convertible Senior Notes since there were no potential share settlements for these periods.

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


	Three months ended September 30,				Nine months ended September 30,
(In millions, except per share data)	2022		2021		2022		2021
Basic and diluted income per share:
Net income	$	67	$	1,618	$	2,316	$	2,614
Weighted average number of common shares outstanding - basic and diluted	235		245		238		245
Income per weighted average common share — basic and diluted	$	0.29	$	6.60	$	9.73	$	10.67

As of September 30, 2022, and 2021, the Company had an insignificant number of outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company’s diluted income per share.

Acquisitions and Dispositions	9 Months Ended
Acquisitions and Dispositions	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Dispositions	Acquisitions and Dispositions Acquisitions 2021 Acquisition of Direct Energy On January 5, 2021, the Company acquired all of the issued and outstanding common shares of Direct Energy, which had been a North American subsidiary of Centrica. Direct Energy is a leading retail provider of electricity, natural gas, and home and business energy related products and services in North America, with operations in all 50 U.S. states and 8 Canadian provinces. The acquisition increased NRG's retail portfolio by over 3 million customers and strengthens its integrated model. It also broadens the Company's presence in the Northeast and into states and locales where it did not previously operate, supporting NRG's objective to diversify its business. The Company paid an aggregate purchase price of $3.625 billion in cash and total purchase price adjustment of $99 million, resulting in an adjusted purchase price of $3.724 billion. For additional information refer to Note 4, Acquisitions, Discontinued Operations and Dispositions, to the Company's 2021 Form 10-K. Dispositions On September 9, 2022, the Company entered into a definitive purchase agreement to sell land and related assets from the Astoria site, within the East region of operations, for initial proceeds of $212 million subject to purchase price adjustments and certain other indemnifications. As part of the transaction, NRG will enter into an agreement to lease the land back for the purpose of operating the Astoria facility through the planned April 30, 2023 retirement date. The operating lease agreement is expected to end six months after the facility's actual retirement date. The transaction is expected to close in the fourth quarter of 2022 and is subject to various closing conditions. On June 1, 2022, the Company closed on the sale of its 49% ownership in the Watson natural gas generating facility for $59 million. The Company recorded a gain on the sale of $46 million. On February 3, 2021, the Company closed on the sale of its 35% ownership in the Agua Caliente solar project to Clearway Energy, Inc. for $202 million. NRG recognized a gain on the sale of $17 million, including cash disposed of $7 million.

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

9 Months Ended

Sep. 30, 2022

Variable Interest Entities Disclosure [Abstract]

Financial Information for Consolidated VIEs

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


(In millions)	September 30, 2022		December 31, 2021
Accounts receivable and Other current assets	$	1,269	$	939




Current liabilities	153		78







Net assets	$	1,116	$	861

- 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

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2022
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 hedges. To the extent that the underlying hedge positions for a counterparty are out-of-the-money to NRG, the counterparty would have a claim under the first lien program. As of September 30, 2022, hedges under the first lien program were out-of-the-money for NRG on a counterparty aggregate basis. 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 differences 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. Environmental Lawsuits 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 in an interim order 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. Consumer Lawsuits Similar to other energy service companies (“ESCOs”) operating in the industry, from time-to-time, the Company and/or its subsidiaries may be subject to consumer lawsuits in various jurisdictions where they sell natural gas and electricity. Variable Price Cases — In the cases set forth below, referred to as the Variable Price Cases, such actions involve consumers alleging that one of the Company’s ESCOs promised that consumers would pay the same or less than they would have paid if they stayed with their default utility or previous energy supplier. The underlying claims of each case are similar and the Company continues to deny the allegations and is vigorously defending these matters. These matters were known and accrued for at the time of each acquisition. XOOM Energy XOOM Energy is a defendant in a putative class action lawsuit pending in New York. This case is in the discovery phase. Direct Energy There are four putative class actions pending against Direct Energy: (1) Linda Stanley v. Direct Energy (S.D.N.Y Apr. 2019) - The parties mediated in June 2021 and agreed on a settlement. In April 2022, the Court granted final approval of the settlement, which was primarily paid during the second quarter of 2022; (2) Martin Forte v. Direct Energy (N.D.N.Y. Mar. 2017) - In December 2021, the Court granted Direct Energy's Motion for summary judgment effectively ending the matter at the district court level. In January 2022, Forte appealed. The briefing is complete. Oral arguments are anticipated for late 2022 or early 2023; (3) Richard Schafer v. Direct Energy (W.D.N.Y. Dec. 2019; on appeal 2nd Cir. N.Y.) - The 2nd Circuit sent the matter back to the trial court in December 2021. After discovery, Direct Energy filed summary judgment; and (4) Andrew Gant v. Direct Energy and NRG (D.N.J. Aug. 2022) - Direct Energy and NRG filed a Motion to Dismiss on October 18, 2022. Telephone Consumer Protection Act ("TCPA") Cases — In the cases set forth below, referred to as the TCPA Cases, such actions involve consumers alleging violations of the Telephone Consumer Protection Act of 1991, as amended, by receiving calls, texts or voicemails without consent in violation of the federal Telemarketing Sales Rule, and/or state counterpart legislation. The underlying claims of each case are similar. The Company denies the allegations asserted by plaintiffs and intends to vigorously defend these matters. These matters were known and accrued for at the time of the acquisition. There are two putative class actions pending against Direct Energy: (1) Holly Newman v. Direct Energy, LP (D. Md Sept 2021) - Direct Energy filed its Motion to Dismiss asserting the ruling in the Brittany Burk v. Direct Energy (S.D. Tex. Feb 2019) preempts the Plaintiff's ability to file suit based on the same facts. The Court denied Direct Energy's motion stating the Court does not have the benefit of all of the facts that were in front of the Burk court to issue a similar ruling. On October 19, 2022, Direct Energy filed a Motion to Transfer Venue asking the Court to transfer the case to the Southern District where the Buck case was filed. Direct Energy will await the court's ruling before moving forward with written discovery; and (2) Matthew Dickson v. Direct Energy (N.D. Ohio Jan. 2018) - The case was stayed pending the outcome of an appeal to the Sixth Circuit based on the unconstitutionality of the TCPA during the period from 2015-2020. The Sixth Circuit found the TCPA was in effect during that period and remanded the case back to the trial court. Direct Energy refiled its motions along with supplements. On March 25, 2022, the Court granted summary judgment in favor of Direct Energy and dismissed the case. Dickson appealed, and the parties are in the briefing process. Winter Storm Uri Lawsuits The Company has been named in certain property damage and wrongful death claims that have been filed in connection with Winter Storm Uri in its capacity as a generator and a retail electric provider. As a power generator, the Company is named in 161 cases with claims ranging from: wrongful death; personal injury only; property damage and personal injury; property damage only; and subrogation. As a retail electric provider, the Company is named in 27 lawsuits with similar claims: wrongful death; property damage only; personal injury only; and both personal injury and property damage. The power generators and retail electric providers filed five motions to dismiss that represent the breadth of the claims filed against them. Briefing is complete and oral arguments occurred on October 11-12, 2022. All of the lawsuits related to Winter Storm Uri are consolidated into a single multi-district litigation matter in Harris County District Court. The Company intends to vigorously defend these matters. Indemnifications and Other Contractual Arrangements 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 LaGen in the United States District Court for the Middle District of Louisiana. The plaintiffs claimed 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 sought damages for the alleged improper charges and a declaration as to which charges were proper under the contract. In February 2020, the court dismissed this lawsuit without prejudice for lack of subject matter jurisdiction. On March 17, 2020, plaintiffs filed a lawsuit in the Nineteenth Judicial District Court for the Parish of East Baton Rouge in Louisiana alleging substantially the same matters. 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.

Environmental Matters	9 Months Ended
Environmental Matters	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Environmental Matters	Environmental Matters NRG is subject to a wide range of environmental laws in the development, construction, ownership and operation of power plants. These laws generally require that governmental permits and approvals be obtained before construction and maintained during operation of power plants. The electric generation industry has been facing increasingly stringent requirements regarding air quality, GHG emissions, combustion byproducts, water discharge and use, and threatened and endangered species. In general, future laws are expected to require the addition of emissions controls or other environmental controls or to impose additional 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. The Company has elected to use a $1 million disclosure threshold, as permitted, for environmental proceedings to which the government is a party. Air CPP/ACE Rules — On July 8, 2019, the EPA promulgated the ACE rule, which rescinded the CPP, which had sought to broadly regulate CO2 emissions from the power sector. The ACE rule required states that have coal-fired EGUs to develop plans to seek heat rate improvements from coal-fired EGUs. On January 19, 2021, the D.C. Circuit vacated the ACE rule (but on February 22, 2021, at the EPA's request, stayed the issuance of the portion of the mandate that would have vacated the repeal of the CPP). On June 30, 2022, the U.S. Supreme Court held that the "generation shifting" approach in the CPP exceeded the powers granted to the EPA by Congress. The Court did not address the related issues of whether the EPA may adopt only measures applied at each source. The Company anticipates that there will be additional proceedings at the D.C. Circuit and additional rulemaking by the EPA over the next several years. Cross-State Air Pollution Rule ("CSAPR") — In April 2022, the EPA proposed revising the CSAPR to address the good-neighbor provisions of the 2015 ozone NAAQS. If the rule were finalized as proposed, it would apply to 25 states (including Texas) beginning in 2023. In 2023, the revised Group 3 trading program (previously established in the Revised CSAPR Update Rule) would have emission budgets based on NOx emission rates that the EPA says are achievable by existing controls at power plants. Starting in 2026, the NOx budgets would be reduced significantly based on levels achievable if selective catalytic reduction ("SCR") controls were installed at coal-fueled power plants that do not currently have such controls. Starting in 2025, the budgets would be updated annually to account for retirements, changes to operations and new units. The proposal also contemplates heightened surrender requirements for units that exceed certain NOx emission rate thresholds. Comments on the proposed rule were due in June 2022 and numerous detailed comments were submitted. The Company cannot predict the outcome of this proposed revision and anticipates that this rulemaking will be subject to legal challenges after it is finalized. Water Effluent Limitations Guidelines — In November 2015, the EPA revised the Effluent Limitations Guidelines ("ELG") for Steam Electric Generating Facilities, which 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, postponed 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 amended the rule. On October 13, 2020, the EPA amended the 2015 ELG rule by: (i) altering the stringency of certain limits for FGD wastewater; (ii) relaxing the zero-discharge requirement for bottom ash transport water; and (iii) changing several deadlines. On July 26, 2021, the EPA announced that it is initiating a new rulemaking to evaluate revising the ELG rule. While the EPA is developing the new rule, the existing rule (as amended in 2020) will stay in place, and the EPA expects permitting authorities to continue to implement the current regulation. The Company anticipates that the EPA will release a proposed rule in the first quarter of 2023. In October 2021, NRG informed its regulators that the Company intends to comply with the ELG by ceasing combustion of coal by the end of 2028 at its domestic coal units outside of Texas, and installing appropriate controls by the end of 2025 at its two plants that have coal-fired units in Texas. 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 September 2017, the EPA agreed to reconsider the rule. On July 30, 2018, the EPA promulgated a rule that amended 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. In 2019 and 2020, the EPA proposed several changes to this rule. On August 28, 2020, the EPA finalized "A Holistic Approach to Close Part A: Deadline to Initiate Closure," which amended the April 2015 Rule to address the August 2018 D.C. Circuit decision and extend some of the deadlines. On November 12, 2020, the EPA finalized "A Holistic Approach to Closure Part B," which further amended the April 2015 Rule to, among other things, provide procedures for requesting approval to operate existing impoundments with an alternative liner.

- Definition

The entire disclosure for environmental loss contingencies, such as presence of hazardous waste, relevant information from reports issued by regulators, and estimated costs to achieve compliance with regulatory requirements. This element may be used for all of an entity's disclosures about environmental loss contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (d)(5)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 55
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=6571209&loc=d3e13644-110860

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=6571209&loc=d3e13718-110860

Reference 4: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13328-110859

Reference 5: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 6: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (d)(4)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 55
-Paragraph 16
-URI https://asc.fasb.org/extlink&oid=6571209&loc=d3e13703-110860

Reference 8: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (d)(3)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 9: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13319-110859

Reference 10: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
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-URI https://asc.fasb.org/subtopic&trid=2175709

Reference 12: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (d)(2)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 13: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 14: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
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-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13283-110859

+ Details

Fair Value of Financial Instruments - Derivative Fair Value Measurements (Details) $ in Millions	Sep. 30, 2022 USD ($) $ / MWh	Dec. 31, 2021 USD ($) $ / MWh
Liabilities
Commodity contracts	$ 9,643	$ 4,799
Level 3
Liabilities
Commodity contracts	331	164
Commodity contracts
Assets
Derivative assets	14,822	7,139
Liabilities
Commodity contracts	9,643	4,798
Commodity contracts \| Level 3
Assets
Derivative assets	1,013	457
Liabilities
Commodity contracts	331	164
Commodity contracts \| Level 3 \| Natural Gas Contracts
Assets
Derivative assets	90	16
Liabilities
Commodity contracts	$ 46	$ 1
Commodity contracts \| Level 3 \| Natural Gas Contracts \| Low
Fair Value Inputs / Range
Forward Market Price (per MWh) \| $ / MWh	3	3
Commodity contracts \| Level 3 \| Natural Gas Contracts \| High
Fair Value Inputs / Range
Forward Market Price (per MWh) \| $ / MWh	35	40
Commodity contracts \| Level 3 \| Natural Gas Contracts \| Weighted Average
Fair Value Inputs / Range
Forward Market Price (per MWh) \| $ / MWh	11	15
Commodity contracts \| Level 3 \| Power Contracts
Assets
Derivative assets	$ 842	$ 392
Liabilities
Commodity contracts	$ 221	$ 121
Commodity contracts \| Level 3 \| Power Contracts \| Low
Fair Value Inputs / Range
Forward Market Price (per MWh) \| $ / MWh	20	3
Commodity contracts \| Level 3 \| Power Contracts \| High
Fair Value Inputs / Range
Forward Market Price (per MWh) \| $ / MWh	263	212
Commodity contracts \| Level 3 \| Power Contracts \| Weighted Average
Fair Value Inputs / Range
Forward Market Price (per MWh) \| $ / MWh	55	35
Commodity contracts \| Level 3 \| FTRs
Assets
Derivative assets	$ 81	$ 49
Liabilities
Commodity contracts	$ 64	$ 42
Commodity contracts \| Level 3 \| FTRs \| Low
Fair Value Inputs / Range
Auction Prices (per MWh) \| $ / MWh	(67)	(122)
Commodity contracts \| Level 3 \| FTRs \| High
Fair Value Inputs / Range
Auction Prices (per MWh) \| $ / MWh	46	43
Commodity contracts \| Level 3 \| FTRs \| Weighted Average
Fair Value Inputs / Range
Auction Prices (per MWh) \| $ / MWh	1	0

Fair Value of Financial Instruments - Derivative Fair Value Measurements, Narrative (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Total derivative assets valued with prices provided by models and other valuation techniques (as a percent)	7.00%
Total derivative liabilities valued with prices provided by models and other valuation techniques (as a percent)	3.00%
Change in credit reserve	$ 11	$ 11

Related Party Transactions

9 Months Ended

Sep. 30, 2022

Related Party Transactions

NRG provides services to some of its related parties, who are accounted for as 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 September 30,				Nine months ended September 30,
(In millions)	2022		2021		2022		2021
Revenues from Related Parties Included in Revenue
Gladstone	$	1	$	1	$	2	$	2

Ivanpah(a)	10		9		32		30
Midway-Sunset	2		1		5		4


Total	$	13	$	11	$	39	$	36

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

Impairments (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
Impairments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2022
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill impairment loss		$ 130		$ 130
East
Impaired Long-Lived Assets Held and Used [Line Items]
Property plant and equipment impairment loss	$ 43	$ 20	$ 271
Goodwill impairment loss			$ 35	$ 130

Changes in Capital Structure

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Changes in Capital Structure

As of September 30, 2022 and December 31, 2021, 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, 2021	423,547,174	(179,793,275)	243,753,899
Shares issued under LTIPs	347,365	—	347,365
Shares issued under ESPP	—	68,941	68,941
Shares repurchased	—	(12,045,068)	(12,045,068)
Balance as of September 30, 2022	423,894,539	(191,769,402)	232,125,137
Shares issued under LTIPs	2,462	—	2,462
Shares issued under ESPP	—	73,884	73,884
Shares repurchased	—	(1,817,278)	(1,817,278)
Balance as of October 31, 2022	423,897,001	(193,512,796)	230,384,205

Share Repurchases

On December 6, 2021 the Company announced that the Board of Directors has authorized $1 billion for share repurchases, as part of NRG’s capital allocation program. During 2021, $44 million of share repurchases were completed under this authorization. During the nine months ended September 30, 2022, the Company completed additional $483 million of share repurchases at an average price of $40.04. Through October 31, 2022, an additional $76 million of share repurchases were executed at an average price of $41.71 per share. In October 2022, the Board of Directors approved an additional $600 million in share repurchases.

The following repurchases have been made during the nine months ended September 30, 2022, and through October 31, 2022:


	Total number of shares and share equivalents purchased	Average price paid per share and share equivalent	Amounts paid for shares and share equivalents purchased (in millions)
2022 repurchases
Repurchases(a)	12,045,068		$	483
Equivalent shares purchased in lieu of tax withholdings on equity compensation issuances(b)	150,448		6

Total Share Repurchases during the nine months ended September 30, 2022	12,195,516	$40.07	489
Repurchases made during October(a)	1,817,278		$	76
Equivalent shares purchased in October in lieu of tax withholdings on equity compensation issuances(b)	793		—
Total Share Repurchases January 1, 2022 through October 31, 2022	14,013,587	$40.28	$	565

(a)Includes $10 million and $6 million accrued as of September 30, 2022 and October 31, 2022, respectively

(b)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 $42.75 and $41.04 for the nine months ended September 30, 2022 and for October 2022, respectively

Employee Stock Purchase Plan

The Company offers 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 occurs each April 1 and October 1. An exercise date occurs each September 30 and March 31.

NRG Common Stock Dividends

During the first quarter of 2022, NRG increased the annual dividend to $1.40 from $1.30 per share and expects to target an annual dividend growth rate of 7%-9% per share in subsequent years. A quarterly dividend of $0.35 per share was paid on the Company's common stock during the three months ended September 30, 2022. On October 21, 2022, NRG declared a quarterly dividend on the Company's common stock of $0.35 per share, payable on November 15, 2022 to stockholders of record as of November 1, 2022. Beginning in the first quarter of 2023, NRG will increase the annual dividend by 8% to $1.51 per share.

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

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Acquisitions and Dispositions - Dispositions (Details) - USD ($) $ in Millions			3 Months Ended		9 Months Ended
	Jun. 01, 2022	Feb. 03, 2021	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale				$ 22	$ 51	$ 17
Watson Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest	49.00%
Proceeds from sale of investment	$ 59
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Agua Caliente Solar Project
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of ownership sold		35.00%
Cash consideration		$ 202
Gain on sale		17
Cash disposed		$ 7
East \| Subsequent Event \| Forecast \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of land and related assets			$ 212
West/Services/Other \| Watson Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale	$ 46

Income Per Share - Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic and diluted income per share:
Net Income, basic	$ 67	$ 1,618	$ 2,316	$ 2,614
Net income, diluted	$ 67	$ 1,618	$ 2,316	$ 2,614
Weighted average number of common shares outstanding — basic (in shares)	235,000	245,000	238,000	245,000
Weighted average number of common shares outstanding — diluted (in shares)	235,000	245,000	238,000	245,000
Income per weighted average common share — basic (in usd per share)	$ 0.29	$ 6.60	$ 9.73	$ 10.67
Income per weighted average common share — diluted (in usd per share)	$ 0.29	$ 6.60	$ 9.73	$ 10.67

- Definition

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

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+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue
Revenue	$ 8,510	$ 6,609	$ 23,688	$ 19,943
Operating Costs and Expenses
Cost of operations (excluding depreciation and amortization shown below)	7,802	3,692	18,619	13,496
Depreciation and amortization	145	199	485	569
Impairment losses	43	0	198	306
Selling, general and administrative costs	326	318	973	973
Provision for credit losses	52	64	103	715
Acquisition-related transaction and integration costs	8	17	26	81
Total operating costs and expenses	8,376	4,290	20,404	16,140
Gain on sale of assets	22	0	51	17
Operating Income	156	2,319	3,335	3,820
Other Income/(Expense)
Equity in earnings of unconsolidated affiliates	11	15	0	23
Other income, net	21	8	33	42
Loss on debt extinguishment	0	(57)	0	(57)
Interest expense	(105)	(122)	(313)	(374)
Total other expense	(73)	(156)	(280)	(366)
Income Before Income Taxes	83	2,163	3,055	3,454
Income tax expense	16	545	739	840
Net Income	$ 67	$ 1,618	$ 2,316	$ 2,614
Income per Share
Weighted average number of common shares outstanding — basic (in shares)	235,000	245,000	238,000	245,000
Weighted average number of common shares outstanding — diluted (in shares)	235,000	245,000	238,000	245,000
Income/(loss) per Weighted Average Common Share — Basic (in usd per share)	$ 0.29	$ 6.60	$ 9.73	$ 10.67
Income/(loss) per Weighted Average Common Share — Diluted (in usd per share)	$ 0.29	$ 6.60	$ 9.73	$ 10.67

Nuclear Decommissioning Trust Fund

9 Months Ended

Sep. 30, 2022

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.


	As of September 30, 2022							As of December 31, 2021
(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	$	17	$	—	$	—	—	$	33	$	—	$	—	—
U.S. government and federal agency obligations	85		—		10		11	112		5		1		10
Federal agency mortgage-backed securities	101		—		12		25	100		2		—		25
Commercial mortgage-backed securities	37		—		4		28	44		1		—		27
Corporate debt securities	104		—		15		13	122		7		1		14
Equity securities	443		301		—		—	593		456		—		—
Foreign government fixed income securities	2		—		—		18	4		—		—		13
Total	$	789	$	301	$	41		$	1,008	$	471	$	2


	Nine months ended September 30,
(In millions)	2022		2021
Realized gains	$	12	$	10
Realized losses	(19)		(6)
Proceeds from sale of securities	363		424

Nuclear Decommissioning Trust Fund - Summary of Aggregate Fair Values and Realized Gains and Losses (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Nuclear decommissioning trust fund
Fair Value	$ 789	$ 1,008
Unrealized Gains	301	471
Unrealized Losses	41	2
Cash and cash equivalents
Nuclear decommissioning trust fund
Fair Value	17	33
Unrealized Gains	0	0
Unrealized Losses	0	0
U.S. government and federal agency obligations
Nuclear decommissioning trust fund
Fair Value	85	112
Unrealized Gains	0	5
Unrealized Losses	$ 10	$ 1
Weighted-average Maturities (In years)	11 years	10 years
Federal agency mortgage-backed securities
Nuclear decommissioning trust fund
Fair Value	$ 101	$ 100
Unrealized Gains	0	2
Unrealized Losses	$ 12	$ 0
Weighted-average Maturities (In years)	25 years	25 years
Commercial mortgage-backed securities
Nuclear decommissioning trust fund
Fair Value	$ 37	$ 44
Unrealized Gains	0	1
Unrealized Losses	$ 4	$ 0
Weighted-average Maturities (In years)	28 years	27 years
Corporate debt securities
Nuclear decommissioning trust fund
Fair Value	$ 104	$ 122
Unrealized Gains	0	7
Unrealized Losses	$ 15	$ 1
Weighted-average Maturities (In years)	13 years	14 years
Equity securities
Nuclear decommissioning trust fund
Fair Value	$ 443	$ 593
Unrealized Gains	301	456
Unrealized Losses	0	0
Foreign government fixed income securities
Nuclear decommissioning trust fund
Fair Value	2	4
Unrealized Gains	0	0
Unrealized Losses	$ 0	$ 0
Weighted-average Maturities (In years)	18 years	13 years

Income Taxes

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Effective Income Tax Rate

The income tax provision consisted of the following:


	Three months ended September 30,						Nine months ended September 30,
(In millions, except rates)	2022			2021			2022			2021
Income before income taxes	$	83		$	2,163		$	3,055		$	3,454
Income tax expense	16			545			739			840

Effective income tax rate	19.3		%	25.2		%	24.2		%	24.3		%

For the three months ended September 30, 2022, the effective tax rate was lower than the statutory rate of 21% primarily due to the benefit resulting from carbon capture tax credits and the reduction in statutory state tax rates. For the nine months ended September 30, 2022, the effective tax rate was higher than the statutory rate of 21% primarily due to state tax expense partially offset by tax benefit resulting from the release of valuation allowance on state net operating losses and carbon capture tax credits. For the three months ended September 30, 2021, the effective tax rate was higher than the statutory rate of 21% primarily due to state tax expense. For the nine months ended September 30, 2021 the effective tax rate was higher than the statutory rate of 21% primarily due to state tax expense partially offset by one-time tax benefits, as a result of the acquisition of Direct Energy, on the revaluation of state deferred tax assets, NOLs and valuation allowance.

The Inflation Reduction Act ("IRA") enacted on August 16, 2022, introduced new provisions including a 15% corporate book minimum tax and a 1% excise tax on net share repurchases with both taxes effective beginning in fiscal year 2023 for NRG. Additionally, the IRA establishes a tax credit associated with existing nuclear facilities which begins in 2024 and terminates at the end of 2031. The tax credit will fully apply when gross revenues are at or below $25 per MWh and phases out completely at $43.75 per MWh. The U.S. Treasury is now taking comments on what should be included in the definition of gross revenues.

Uncertain Tax Benefits

As of September 30, 2022, NRG had a non-current tax liability of $23 million for uncertain tax benefits from positions taken on various federal and state income tax returns inclusive of accrued interest. For the nine months ended September 30, 2022, NRG accrued an immaterial amount of interest relating to the uncertain tax benefits. As of September 30, 2022, NRG had cumulative interest and penalties related to these uncertain tax benefits of $1 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 2019. With few exceptions, state and local income tax examinations are no longer open for years prior to 2013.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
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-Section S99
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Long-term Debt and Finance Leases - Senior Notes (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jan. 01, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Discount amortization period	7 years
Adjustment for adoption of new accounting guidance	$ 5,130	$ 5,300	$ 5,030		$ 3,600	$ 4,078	$ 2,544	$ 1,517	$ 1,680
Additional Paid-In Capital
Debt Instrument [Line Items]
Adjustment for adoption of new accounting guidance	8,450	8,442	8,433		8,531	8,525	8,519	8,513	8,517
Retained Earnings
Debt Instrument [Line Items]
Adjustment for adoption of new accounting guidance	$ 2,584	$ 2,600	$ 2,171		464	$ 971	$ (567)	$ (1,565)	$ (1,403)
Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument [Line Items]
Adjustment for adoption of new accounting guidance					(43)
Debt discount				$ 57
Deferred tax liabilities				14
Cumulative Effect, Period of Adoption, Adjustment \| Additional Paid-In Capital
Debt Instrument [Line Items]
Adjustment for adoption of new accounting guidance				(100)	(100)
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
Debt Instrument [Line Items]
Adjustment for adoption of new accounting guidance				$ 57	$ 57
Recourse Debt \| Convertible Senior Notes due 2048
Debt Instrument [Line Items]
Convertible notes, conversion price (in usd per share)	$ 43.77

Accounting for Derivative Instruments and Hedging Activities - Pre-tax Effects of Economic Hedges Not Designated as Cash Flow Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Unrealized mark-to-market results
Reversal of previously recognized unrealized (gains) on settled positions related to economic hedges	$ (387)	$ (97)	$ (992)	$ (58)
Reversal of acquired (gain)/loss positions related to economic hedges	(15)	(42)	(27)	206
Net unrealized gains on open positions related to economic hedges	313	1,924	3,926	3,875
Total unrealized mark-to-market (losses)/gains for economic hedging activities	(89)	1,785	2,907	4,023
Reversal of previously recognized unrealized losses/(gains) on settled positions related to trading activity	2	(6)	11	(16)
Net unrealized gains/(losses) on open positions related to trading activity	7	14	(18)	18
Total unrealized mark-to-market gains/(losses) for trading activity	9	8	(7)	2
Total unrealized (losses)/gains	(80)	1,793	2,900	4,025
Credit Risk Related Contingent Features
Collateral due on net liability position that has not been called by a certain marginable agreement counterparty	131		131
Additional collateral required	30		30
Not Designated as Hedging Instrument, Economic Hedge
Unrealized mark-to-market results
Total unrealized (losses)/gains			3,900	3,900
Adequate Assurance Clauses
Credit Risk Related Contingent Features
Derivative net liability position, collateral required for contracts with credit rating contingent feature	1,300		1,300
Commodity contracts
Unrealized mark-to-market results
Total unrealized (losses)/gains	(80)	1,793	2,900	4,025
Commodity contracts \| Operating revenues
Unrealized mark-to-market results
Total unrealized (losses)/gains	42	11	(255)	(97)
Commodity contracts \| Cost of operations
Unrealized mark-to-market results
Total unrealized (losses)/gains	(148)	1,777	3,124	4,121
Foreign exchange contract \| Cost of operations
Unrealized mark-to-market results
Total unrealized (losses)/gains	$ 26	$ 5	$ 31	$ 1

Related Party Transactions - Schedule of NRG's Material Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transaction [Line Items]
Revenue from related parties	$ 13	$ 11	$ 39	$ 36
Gladstone
Related Party Transaction [Line Items]
Revenue from related parties	1	1	2	2
Ivanpah
Related Party Transaction [Line Items]
Revenue from related parties	10	9	32	30
Midway-Sunset
Related Party Transaction [Line Items]
Revenue from related parties	$ 2	$ 1	$ 5	$ 4

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 1B
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-Subparagraph (SX 210.5-03.1(e))
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+ Details

Nuclear Decommissioning Trust Fund - Narrative (Details)	Sep. 30, 2022
STP
Nuclear decommissioning trust fund
Ownership interest as percentage	44.00%

Fair Value of Financial Instruments - Reconciliation of Level 3 Financial Instruments (Details) - Level 3 - Derivatives - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 1,403	$ 574	$ 293	$ (16)
Contracts added from Direct Energy acquisition	0	0	0	(15)
Total (losses)/gains realized/unrealized — included in earnings	(314)	(175)	145	187
Purchases	60	0	89	78
Transfers into Level 3	(466)	(108)	155	64
Transfers out of Level 3	(1)	20	0	13
Ending balance	682	311	682	311
(Losses)/gains 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	$ (240)	$ (237)	$ 294	$ 184

Environmental Matters (Details)	Oct. 31, 2021 facility
Commitments and Contingencies Disclosure [Abstract]
Number of plants	2

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

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)	September 30, 2022		December 31, 2021
Property, plant and equipment accumulated depreciation	$	1,456	$	1,308
Intangible assets accumulated amortization	1,989		1,636

Activity in Allowance for Credit Losses

The following table represents the activity in the allowance for credit losses for the three and nine months ended September 30, 2022 and 2021:


	Three months ended September 30,				Nine months ended September 30,
(In millions)	2022		2021		2022		2021
Beginning balance	$	627	$	761	$	683	$	67
Acquired balance from Direct Energy	—		—		—		112
Provision for credit losses	52		64		103		715
Write-offs	(50)		(41)		(171)		(124)
Recoveries collected	9		8		23		22
Ending balance	$	638	$	792	$	638	$	792

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)	September 30, 2022		December 31, 2021
Cash and cash equivalents	$	333	$	250
Funds deposited by counterparties	3,134		845
Restricted cash	46		15
Cash and cash equivalents, funds deposited by counterparties and restricted cash shown in the statement of cash flows	$	3,513	$	1,110

Schedule of Goodwill

The following table represents the changes in goodwill during the nine months ended September 30, 2022:


(In millions)	Texas		East		West/Services/Other		Total
Balance as of December 31, 2021	$	751	$	853	$	191	$	1,795
Impairment	—		(130)		—		(130)
Asset sales	(6)		—		—		(6)
Foreign Currency Translation	—		—		(9)		(9)
Balance as of September 30, 2022	$	745	$	723	$	182	$	1,650

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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-Name Accounting Standards Codification
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+ Details

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Three months ended September 30, 2022
(In millions)	Texas		East		West/Services/Other		Corporate		Eliminations		Total
Revenue	$	3,149	$	4,180	$	1,169	$	—	$	12	$	8,510
Depreciation and amortization	77		39		22		7		—		145
Impairment losses	—		43		—		—		—		43

Gain on sale of assets	22		—		—		—		—		22
Equity in (losses)/earnings of unconsolidated affiliates	(1)		—		12		—		—		11

(Loss)/Income before income taxes	(475)		555		106		(103)		—		83



Net (loss)/income	$	(475)	$	555	$	88	$	(101)	$	—	$	67


	Three months ended September 30, 2021
(In millions)	Texas		East		West/Services/Other		Corporate		Eliminations		Total
Revenue	$	2,635	$	3,077	$	883	$	—	$	14	$	6,609
Depreciation and amortization	84		87		21		7		—		199



Equity in (losses)/earnings of unconsolidated affiliates	(2)		—		17		—		—		15

Income/(loss) before income taxes	251		1,980		140		(208)		—		2,163



Net income/(loss)	$	251	$	1,980	$	126	$	(739)	$	—	$	1,618



	Nine months ended September 30, 2022
(In millions)	Texas		East		West/Services/Other		Corporate		Eliminations		Total
Revenue	$	7,868	$	12,414	$	3,377	$	—	$	29	$	23,688
Depreciation and amortization	230		167		65		23		—		485
Impairment losses	—		198		—		—		—		198

Gain/(loss) on sale of assets	10		—		43		(2)		—		51
Equity in (losses)/earnings of unconsolidated affiliates	(2)		—		2		—		—		—


Income/(loss) before income taxes	1,064		2,085		259		(353)		—		3,055




Net income/(loss)	$	1,064	$	2,086	$	231	$	(1,065)	$	—	$	2,316



	Nine months ended September 30, 2021
(In millions)	Texas		East		West/Services/Other		Corporate		Eliminations		Total
Revenue	$	8,362	$	9,002	$	2,564	$	—	$	15	$	19,943
Depreciation and amortization	245		237		66		21		—		569
Impairment losses	—		306		—		—		—		306

Gain on sale of assets	—		—		17		—		—		17
Equity in (losses)/earnings of unconsolidated affiliates	(3)		—		26		—		—		23

Income/(loss) before income taxes	600		3,119		271		(536)		—		3,454



Net income/(loss)	$	600	$	3,119	$	239	$	(1,344)	$	—	$	2,614

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2022	Oct. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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	910 Louisiana Street
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	537-3000
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		230,384,205
Entity Central Index Key	0001013871
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3

Commitments and Contingencies - Narrative (Details)	9 Months Ended
Commitments and Contingencies - Narrative (Details)	Sep. 30, 2022 counterparty motion	Oct. 31, 2021 facility	Jun. 30, 2019 facility	Apr. 30, 2019 case	Feb. 28, 2019 case
Loss Contingencies
Number of facilities \| facility		2
Sierra Club Et Al V. Midwest Generation LLC
Loss Contingencies
Number of facilities \| facility			4
Direct Energy vs. Stanley, Forte, Schafer and Lane
Loss Contingencies
Pending lawsuits \| case				4
Direct Energy vs. Burk and Dickson
Loss Contingencies
Pending lawsuits \| case					2
Winter Storm Uri claims vs. Company as power generator
Loss Contingencies
Pending lawsuits \| counterparty	161
Winter Storm Uri, claims vs. Company as retail electric provider
Loss Contingencies
Pending lawsuits \| counterparty	27
Motions filed to dismiss claims \| motion	5

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 333	$ 250
Funds deposited by counterparties	3,134	845
Restricted cash	46	15
Accounts receivable, net	4,061	3,245
Uplift securitization proceeds receivable from ERCOT	0	689
Inventory	772	498
Derivative instruments	9,938	4,613
Cash collateral paid in support of energy risk management activities	262	291
Prepayments and other current assets	417	395
Total current assets	18,963	10,841
Property, plant and equipment, net	1,598	1,688
Other Assets
Equity investments in affiliates	126	157
Operating lease right-of-use assets, net	236	271
Goodwill	1,650	1,795
Intangible assets, net	2,227	2,511
Nuclear decommissioning trust fund	789	1,008
Derivative instruments	4,914	2,527
Deferred income taxes	1,516	2,155
Other non-current assets	224	229
Total other assets	11,682	10,653
Total Assets	32,243	23,182
Current Liabilities
Current portion of long-term debt and finance leases	62	4
Current portion of operating lease liabilities	82	81
Accounts payable	2,871	2,274
Derivative instruments	6,841	3,387
Cash collateral received in support of energy risk management activities	3,134	845
Accrued expenses and other current liabilities	1,376	1,324
Total current liabilities	14,366	7,915
Other Liabilities
Long-term debt and finance leases	7,974	7,966
Non-current operating lease liabilities	197	236
Nuclear decommissioning reserve	335	321
Nuclear decommissioning trust liability	433	666
Derivative instruments	2,802	1,412
Deferred income taxes	84	73
Other non-current liabilities	922	993
Total other liabilities	12,747	11,667
Total Liabilities	27,113	19,582
Commitments and Contingencies
Stockholders' Equity
Common stock; $0.01 par value; 500,000,000 shares authorized; 423,894,539 and 423,547,174 shares issued and 232,125,137 and 243,753,899 shares outstanding at September 30, 2022 and December 31, 2021, respectively	4	4
Additional paid-in-capital	8,450	8,531
Retained earnings	2,584	464
Treasury stock, at cost 191,769,402 and 179,793,275 shares at September 30, 2022 and December 31, 2021, respectively	(5,754)	(5,273)
Accumulated other comprehensive loss	(154)	(126)
Total Stockholders' Equity	5,130	3,600
Total Liabilities and Stockholders' Equity	$ 32,243	$ 23,182

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision

The income tax provision consisted of the following:


	Three months ended September 30,						Nine months ended September 30,
(In millions, except rates)	2022			2021			2022			2021
Income before income taxes	$	83		$	2,163		$	3,055		$	3,454
Income tax expense	16			545			739			840

Effective income tax rate	19.3		%	25.2		%	24.2		%	24.3		%

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2022

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)	September 30, 2022		December 31, 2021
Property, plant and equipment accumulated depreciation	$	1,456	$	1,308
Intangible assets accumulated amortization	1,989		1,636

Credit Losses

Retail trade receivables are reported on the balance sheet net of the allowance for credit losses. The Company accrues a provision 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 and nine months ended September 30, 2022 and 2021:


	Three months ended September 30,				Nine months ended September 30,
(In millions)	2022		2021		2022		2021
Beginning balance	$	627	$	761	$	683	$	67
Acquired balance from Direct Energy	—		—		—		112
Provision for credit losses	52		64		103		715
Write-offs	(50)		(41)		(171)		(124)
Recoveries collected	9		8		23		22
Ending balance	$	638	$	792	$	638	$	792

The decrease in the provision for credit losses during the nine months ended September 30, 2022, compared to the same period in 2021 was primarily due to the impacts of Winter Storm Uri during the prior year on bilateral finance hedging risk of $403 million, counterparty credit risk of $152 million and ERCOT default shortfall payments of $83 million.

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


(In millions)	September 30, 2022		December 31, 2021
Cash and cash equivalents	$	333	$	250
Funds deposited by counterparties	3,134		845
Restricted cash	46		15
Cash and cash equivalents, funds deposited by counterparties and restricted cash shown in the statement of cash flows	$	3,513	$	1,110

Funds deposited by counterparties consist of cash held by the Company as a result of collateral posting obligations from its counterparties related to NRG's hedging program. The increase in funds deposited by counterparties is driven by the significant increase in forward positions as a result of increases in natural gas and power prices compared to December 31, 2021. Though some amounts are segregated into separate accounts, not all funds are contractually restricted. Based on the Company's intention, these funds are not available for the payment of general corporate obligations; however, they are available for liquidity management. Depending on market fluctuations and the settlement of the underlying contracts, the Company will refund this collateral to the 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 uses.

Winter Storm Uri Uplift Securitization Proceeds

The Texas Legislature passed House Bill ("HB") 4492 in May of 2021 for ERCOT to mitigate exceptionally high price adders and ancillary service costs incurred by LSEs during Winter Storm Uri. HB 4492 authorized ERCOT to obtain $2.1 billion of financing to distribute to LSEs that were charged and paid to ERCOT those highly priced ancillary service and ORDPA during Winter Storm Uri.

In December 2021, ERCOT filed with the PUCT a calculation of each LSE’s share of proceeds based on the settlement methodology. The Company accounted for the proceeds by analogy to the contribution model within ASC 958-605, Not-for-Profit Entities- Revenue Recognition and the grant model within IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, as a reduction to cost of operations within its consolidated statements of operations in the 2021 annual period for which the proceeds were intended to compensate. The Company received proceeds of $689 million from ERCOT in June 2022.

Goodwill

The following table represents the changes in goodwill during the nine months ended September 30, 2022:


(In millions)	Texas		East		West/Services/Other		Total
Balance as of December 31, 2021	$	751	$	853	$	191	$	1,795
Impairment	—		(130)		—		(130)
Asset sales	(6)		—		—		(6)
Foreign Currency Translation	—		—		(9)		(9)
Balance as of September 30, 2022	$	745	$	723	$	182	$	1,650

Recent Accounting Developments - Guidance Adopted in 2022

ASU 2020-06 — In August 2020, the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40), or ASU 2020-06. The guidance in ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock. In addition, ASU 2020-06 improves and amends the related earnings per share guidance. The Company adopted this standard on January 1, 2022 using the modified retrospective approach. As a result of the provisions of the amended guidance, the Company recorded a $100 million decrease to additional paid-in capital, a $57 million decrease to debt discount, a $57 million increase to retained earnings and a $14 million decrease to long-term deferred tax liabilities. The adoption of ASU 2020-06 did not have a material impact on the Company's statement of operations, statement of cash flow or earnings per share amounts.

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Effective Tax Rate
Income before income taxes	$ 83	$ 2,163	$ 3,055	$ 3,454
Income tax expense	$ 16	$ 545	$ 739	$ 840
Effective income tax rate	19.30%	25.20%	24.20%	24.30%
Uncertain Tax Benefits
Non-current tax liability for uncertain tax benefits	$ 23		$ 23
Uncertain tax benefits, penalties and interest accrued	$ 1		$ 1

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126941158&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Nature of Business and Basis of Presentation	9 Months Ended
Nature of Business and Basis of Presentation	Sep. 30, 2022
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 a consumer services company built on dynamic retail brands. NRG brings the power of energy to customers by producing and selling energy and related products and services, nation-wide in the U.S. and Canada in a manner that delivers value to all of NRG's stakeholders. NRG sells power, natural gas, home and power services, and develops innovative, sustainable solutions, predominately under the brand names NRG, Reliant, Direct Energy, Green Mountain Energy, Stream, and XOOM Energy. The Company has a customer base that includes approximately 5.5 million Home customers as well as commercial, industrial, and wholesale customers, supported by approximately 16 GW of generation. The Company manages its operations based on the combined results of the retail and wholesale generation businesses with a geographical focus. The Company's business is segmented as follows: •Texas, which includes all activity related to customer, plant and market operations in Texas, other than Cottonwood; •East, which includes all activity related to customer, plant and market operations in the East; •West/Services/Other, which includes the following assets and activities: (i) all activity related to customer, plant and market operations in the West and Canada, (ii) the Services businesses (iii) activity related to the Cottonwood facility, (iv) the remaining renewables activity, including the Company’s equity method investment in Ivanpah Master Holdings, LLC, and (v) activity related to the Company’s equity method investment for the Gladstone power plant in Australia; and •Corporate activities. 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 consolidated financial statements in the Company's 2021 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 September 30, 2022, and the results of operations, comprehensive income, cash flows and statements of stockholders' equity for the three and nine months ended September 30, 2022 and 2021. 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 period amounts have been reclassified for comparative purposes. The reclassifications did not affect consolidated results from operations, net assets or consolidated cash flows.

Revenue Recognition - Performance Obligations Expected Timing of Satisfaction (Details) $ in Millions	Sep. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated future fixed fee performance obligations	$ 31
Revenue remaining performance obligation period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated future fixed fee performance obligations	$ 77
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]
Estimated future fixed fee performance obligations	$ 23
Revenue remaining performance obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated future fixed fee performance obligations	$ 2
Revenue remaining performance obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation period	1 year

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

9 Months Ended

Sep. 30, 2022

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. On June 1, 2022, the Company sold its 49% ownership in the Watson natural gas generating facility for $59 million as further described in Note 4, Acquisitions and Dispositions.

Variable Interest Entities that are Consolidated

The Company has a controlling financial interest that has been identified as a VIE under ASC 810 in NRG Receivables LLC, which has entered into financing transactions related to the Receivables Facility as further described in Note 13, Long-term Debt and Finance Leases, to the Company’s 2021 Form 10-K.

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


(In millions)	September 30, 2022		December 31, 2021
Accounts receivable and Other current assets	$	1,269	$	939




Current liabilities	153		78







Net assets	$	1,116	$	861

Nature of Business and Basis of Presentation - General (Details) counterparty in Millions	9 Months Ended
	Sep. 30, 2022 counterparty GW
Business Acquisition [Line Items]
Generation capacity (in GW) \| GW	16
Home
Business Acquisition [Line Items]
Customers \| counterparty	5.5

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

For cash and cash equivalents, funds deposited by counterparties, restricted cash, accounts and other receivables, accounts payable, and cash collateral paid 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 value and fair value of the Company's financial instruments not carried at fair market value are as follows:


	September 30, 2022				December 31, 2021
(In millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value




Convertible Senior Notes	$	575	$	611	$	518	$	677
Other long-term debt, including current portion	7,523		6,473		7,522		7,650
Total long-term debt, including current portion(a)	$	8,098	$	7,084	$	8,040	$	8,327

(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.

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.


	September 30, 2022

(In millions)	Total		Level 1		Level 2		Level 3
Investments in securities (classified within other current and non-current assets)	$	19	$	—	$	19	$	—

Nuclear trust fund investments:
Cash and cash equivalents	17		17		—		—
U.S. government and federal agency obligations	85		83		2		—
Federal agency mortgage-backed securities	101		—		101		—
Commercial mortgage-backed securities	37		—		37		—
Corporate debt securities	104		—		104		—
Equity securities	372		372		—		—
Foreign government fixed income securities	2		—		2		—
Other trust fund investments (classified within other non-current assets):
U.S. government and federal agency obligations	1		1		—		—
Derivative assets:
Foreign exchange contracts	30		—		30		—
Commodity contracts	14,822		2,873		10,936		1,013


Measured using net asset value practical expedient:
Equity securities — nuclear trust fund investments	71
Equity securities (classified within other non-current assets)	6
Total assets	$	15,667	$	3,346	$	11,231	$	1,013
Derivative liabilities:

Commodity contracts	9,643		1,228		8,084		331
Total liabilities	$	9,643	$	1,228	$	8,084	$	331


	December 31, 2021

(In millions)	Total		Level 1		Level 2		Level 3
Investments in securities (classified within other current and non-current assets)	$	32	$	15	$	17	$	—
Nuclear trust fund investments:
Cash and cash equivalents	33		33		—		—
U.S. government and federal agency obligations	112		111		1		—
Federal agency mortgage-backed securities	100		—		100		—
Commercial mortgage-backed securities	44		—		44		—
Corporate debt securities	122		—		122		—
Equity securities	494		494		—		—
Foreign government fixed income securities	4		—		4		—
Other trust fund investments (classified within other non-current assets):
U.S. government and federal agency obligations	1		1		—		—
Derivative assets:
Foreign exchange contracts	1		—		1		—
Commodity contracts	7,139		981		5,701		457


Measured using net asset value practical expedient:
Equity securities — nuclear trust fund investments	99
Equity securities (classified within other non-current assets)	7
Total assets	$	8,188	$	1,635	$	5,990	$	457
Derivative liabilities:
Foreign exchange contracts	$	1	$	—	$	1	$	—
Commodity contracts	4,798		626		4,008		164

Total liabilities	$	4,799	$	626	$	4,009	$	164


	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
	Derivatives(a)
(In millions)	Three months ended September 30, 2022		Three months ended September 30, 2021		Nine months ended September 30, 2022		Nine months ended September 30, 2021

Beginning balance	$	1,403	$	574	$	293	$	(16)
Contracts added from Direct Energy acquisition	—		—		—		(15)

Total (losses)/gains realized/unrealized — included in earnings	(314)		(175)		145		187


Purchases	60		—		89		78
Transfers into Level 3(b)	(466)		(108)		155		64
Transfers out of Level 3(b)	(1)		20		—		13
Ending balance	$	682	$	311	$	682	$	311
(Losses)/gains 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	$	(240)	$	(237)	$	294	$	184

(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

Realized and unrealized gains and losses included in earnings that are related to the energy derivatives are recorded in revenues and cost of operations.

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 September 30, 2022, contracts valued with prices provided by models and other valuation techniques make up 7% of derivative assets and 3% of derivative liabilities.

NRG's significant positions classified as Level 3 include physical and financial natural gas and power contracts executed in illiquid markets, as well as FTRs. The significant unobservable inputs used in developing fair value include illiquid natural gas and 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 September 30, 2022 and December 31, 2021:



	September 30, 2022
	Fair Value						Input/Range
(In millions)	Assets		Liabilities		Valuation Technique	Significant Unobservable Input	Low		High		Weighted Average
Natural Gas Contracts	$	90	$	46	Discounted Cash Flow	Forward Market Price (per MMBtu)	$	3	$	35	$	11
Power Contracts	842		221		Discounted Cash Flow	Forward Market Price (per MWh)	20		263		55
FTRs	81		64		Discounted Cash Flow	Auction Prices (per MWh)	(67)		46		1
	$	1,013	$	331



	December 31, 2021
	Fair Value						Input/Range
(In millions)	Assets		Liabilities		Valuation Technique	Significant Unobservable Input	Low		High		Weighted Average
Natural Gas Contracts	$	16	$	1	Discounted Cash Flow	Forward Market Price (per MMBtu)	$	3	$	40	$	15
Power Contracts	392		121		Discounted Cash Flow	Forward Market Price (per MWh)	3		212		35
FTRs	49		42		Discounted Cash Flow	Auction Prices (per MWh)	(122)		43		0
	$	457	$	164

The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of September 30, 2022 and December 31, 2021:

Significant Unobservable Input

Position

Change In Input

Impact on Fair Value Measurement

Forward Market Price Natural Gas/Power

Buy

Increase/(Decrease)

Higher/(Lower)

Forward Market Price Natural Gas/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 September 30, 2022, the credit reserve resulted in a $11 million decrease primarily within cost of operations. As of December 31, 2021, the credit reserve resulted in a $11 million decrease primarily within 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 2021 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 2021 Form 10-K. As of September 30, 2022, counterparty credit exposure, excluding credit exposure from RTOs, ISOs, registered commodity exchanges and certain long-term agreements, was $3.2 billion and NRG held collateral (cash and letters of credit) against those positions of $1.8 billion, resulting in a net exposure of $1.4 billion. 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 75% of the Company's exposure before collateral is expected to roll off by the end of 2023. 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	61	%
Financial institutions	39

Total as of September 30, 2022	100	%


	Net Exposure (a)(b)
Category by Counterparty Credit Quality	(% of Total)
Investment grade	68	%
Non-investment grade/non-rated	32
Total as of September 30, 2022	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 exposure to one wholesale counterparty in excess of 10% of total net exposure discussed above as of September 30, 2022. Changes in hedge positions and market prices will affect credit exposure and counterparty concentration.

During the first quarter of 2021, during Winter Storm Uri, the Company experienced a nonperformance by a counterparty in one of its bilateral financial hedging transactions, resulting in exposure of $403 million. The Company is pursuing all means available to enforce its obligations under this transaction but, given the size of the exposure and the counterparty filing for Chapter 11 bankruptcy protection, cannot determine with certainty what the amount of its ultimate recovery will be. The full exposure was provided for in the allowance for credit losses since March 31, 2021.

RTOs and ISOs

The Company participates in the organized markets of CAISO, ERCOT, AESO, IESO, ISO-NE, MISO, NYISO and PJM, known as RTOs or ISOs. Trading in the majority of these markets is approved by FERC, whereas in the case of ERCOT, it is approved by the PUCT, and whereas in the case of AESO and IESO, both exist provincially with AESO primarily subject to Alberta Utilities Commission and the IESO to the Ontario Energy Board. These ISOs may include 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 always 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 September 30, 2022, aggregate credit risk exposure managed by NRG to these counterparties was approximately $1.1 billion for the next five years.

Retail Customer Credit Risk

The Company is exposed to retail credit risk through the Company's retail electricity and gas providers, which serve Home and Business customers. 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 September 30, 2022, the Company's retail customer credit exposure to Home and Business customers was diversified across many customers and various industries, as well as government entities. 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

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Shares purchased for tax withholding obligation (in shares)	(6)	(9)
Dividends per common share (in usd per share)	$ 0.35	$ 0.325

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from Operating Activities
Net Income	$ 2,316	$ 2,614
Adjustments to reconcile net income to cash provided by operating activities:
Distributions from and equity in earnings of unconsolidated affiliates	7	8
Depreciation and amortization	485	569
Accretion of asset retirement obligations	20	21
Provision for credit losses	103	715
Amortization of nuclear fuel	42	39
Amortization of financing costs and debt discounts	17	30
Loss on debt extinguishment	0	57
Amortization of in-the-money contracts and emissions allowances	122	111
Amortization of unearned equity compensation	21	16
Net gain on sale and disposal of assets	(82)	(29)
Impairment losses	198	306
Changes in derivative instruments	(4,480)	(4,419)
Changes in deferred income taxes and liability for uncertain tax benefits	688	782
Changes in collateral deposits in support of energy risk management activities	2,321	1,970
Changes in nuclear decommissioning trust liability	2	38
Uplift securitization proceeds received from ERCOT	689	0
Changes in other working capital	(711)	(973)
Cash provided by operating activities	1,758	1,855
Cash Flows from Investing Activities
Payments for acquisitions of businesses and assets, net of cash acquired	(60)	(3,534)
Capital expenditures	(250)	(219)
Net (purchases)/sales of emission allowances	(4)	6
Investments in nuclear decommissioning trust fund securities	(361)	(460)
Proceeds from the sale of nuclear decommissioning trust fund securities	363	424
Proceeds from sales of assets, net of cash disposed	107	198
Cash used by investing activities	(205)	(3,585)
Cash Flows from Financing Activities
Payments of dividends to common stockholders	(252)	(239)
Payments for share repurchase activity	(484)	(9)
Net receipts from settlement of acquired derivatives that include financing elements	1,596	396
Repayments of long-term debt and finance leases	(4)	(1,360)
Proceeds from issuance of long-term debt	0	1,100
Payments for debt extinguishment costs	0	(48)
Payments of debt issuance costs	(1)	(18)
Proceeds from issuance of common stock	0	1
Net Cash Provided/(Used) by Financing Activities	855	(177)
Effect of exchange rate changes on cash and cash equivalents	(5)	(2)
Net Increase/(Decrease) in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	2,403	(1,909)
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	1,110	3,930
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	$ 3,513	$ 2,021

Revenue Recognition

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Performance Obligations

As of September 30, 2022, estimated future fixed fee performance obligations are $31 million for the remaining three months of fiscal year 2022, and $77 million, $23 million and $2 million for the fiscal years 2023, 2024 and 2025, 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 and nine months ended September 30, 2022 and 2021:


	Three months ended September 30, 2022
(In millions)	Texas		East		West/Services/Other		Corporate/Eliminations		Total
Retail revenue:
Home(a)	$	2,074	$	546	$	429	$	—	$	3,049
Business	931		3,317		561		—		4,809
Total retail revenue(b)	3,005		3,863		990		—		7,858
Energy revenue(b)	48		212		180		10		450
Capacity revenue(b)	—		38		—		—		38
Mark-to-market for economic hedging activities(c)	4		32		(7)		4		33
Contract amortization	—		(10)		4		—		(6)
Other revenue(b)	92		45		2		(2)		137
Total revenue	3,149		4,180		1,169		12		8,510
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	—		3		14		(1)		16
Less: Realized and unrealized ASC 815 revenue	15		93		13		14		135
Total revenue from contracts with customers	$	3,134	$	4,084	$	1,142	$	(1)	$	8,359
(a) Home includes Services
(b) 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/Services/Other		Corporate/Eliminations		Total
Retail revenue	$	—	$	90	$	—	$	—	$	90
Energy revenue	—		(39)		27		11		(1)
Capacity revenue	—		7		—		—		7
Other revenue	11		3		(7)		(1)		6
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815


	Three months ended September 30, 2021
(In millions)	Texas		East		West/Services/Other		Corporate/Eliminations		Total
Retail revenue:
Home(a)	$	1,776	$	470	$	399	$	1	$	2,646
Business	727		2,228		350		—		3,305
Total retail revenue	2,503		2,698		749		1		5,951
Energy revenue(b)	18		201		113		4		336
Capacity revenue(b)	—		172		17		—		189
Mark-to-market for economic hedging activities(c)	(1)		(3)		(6)		13		3
Contract amortization	—		(7)		4		—		(3)
Other revenue(b)	115		16		6		(4)		133
Total revenue	2,635		3,077		883		14		6,609
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	—		(7)		6		—		(1)
Less: Realized and unrealized ASC 815 revenue	38		76		(8)		14		120
Total revenue from contracts with customers	$	2,597	$	3,008	$	885	$	—	$	6,490
(a) Home includes Services
(b) 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/Services/Other		Corporate/Eliminations		Total
Energy revenue	$	—	$	38	$	2	$	1	$	41
Capacity revenue	—		42		—		—		42
Other revenue	39		(1)		(4)		—		34
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815


	Nine months ended September 30, 2022
(In millions)	Texas		East		West/Services/Other		Corporate/Eliminations		Total
Retail revenue:
Home(a)	$	5,024	$	1,674	$	1,663	$	(1)	$	8,360
Business	2,504		10,110		1,405		—		14,019
Total retail revenue(b)	7,528		11,784		3,068		(1)		22,379
Energy revenue(b)	101		544		365		24		1,034
Capacity revenue(b)	—		242		2		—		244
Mark-to-market for economic hedging activities(c)	1		(204)		(63)		18		(248)
Contract amortization	—		(30)		2		—		(28)
Other revenue(b)	238		78		3		(12)		307
Total revenue	7,868		12,414		3,377		29		23,688
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	—		(10)		33		(1)		22
Less: Realized and unrealized ASC 815 revenue	(5)		(96)		(99)		41		(159)
Total revenue from contracts with customers	$	7,873	$	12,520	$	3,443	$	(11)	$	23,825
(a) Home includes Services
(b) 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/Services/Other		Corporate/Eliminations		Total
Retail revenue	$	—	$	90	$	—	$	—	$	90
Energy revenue	—		(13)		(13)		24		(2)
Capacity revenue	—		29		—		—		29
Other revenue	(6)		2		(23)		(1)		(28)
(c) Revenue relates entirely to unrealized gains and losses on derivative instruments accounted for under ASC 815


	Nine months ended September 30, 2021
(In millions)	Texas		East		West/Services/Other		Corporate/Eliminations		Total
Retail revenue:
Home(a)	$	4,484	$	1,469	$	1,439	$	(1)	$	7,391
Business	2,091		6,560		887		—		9,538
Total retail revenue	6,575		8,029		2,326		(1)		16,929
Energy revenue(c)	317		428		238		6		989
Capacity revenue(c)	—		568		47		—		615
Mark-to-market for economic hedging activities(d)	(5)		(53)		(60)		19		(99)
Contract amortization	—		(15)		(4)		—		(19)
Other revenue(b)(c)	1,475		45		17		(9)		1,528
Total revenue	8,362		9,002		2,564		15		19,943
Less: Revenues accounted for under topics other than ASC 606 and ASC 815	—		(14)		1		—		(13)
Less: Realized and unrealized ASC 815 revenue	129		193		(73)		20		269
Total revenue from contracts with customers	$	8,233	$	8,823	$	2,636	$	(5)	$	19,687
(a) Home includes Services
(b) Other Revenue in Texas includes ancillary revenues of $1.2 billion driven by high pricing during Winter Storm Uri
(c) 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/Services/Other		Corporate/Eliminations		Total
Energy revenue	$	—	$	122	$	(4)	$	2	$	120
Capacity revenue	—		119		—		—		119
Other revenue	134		5		(9)		(1)		129
(d) 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 September 30, 2022 and December 31, 2021:


(In millions)	September 30, 2022		December 31, 2021
Deferred customer acquisition costs	$	117	$	133

Accounts receivable, net - Contracts with customers	3,768		3,057
Accounts receivable, net - Accounted for under topics other than ASC 606	290		182
Accounts receivable, net - Affiliate	3		6
Total accounts receivable, net	$	4,061	$	3,245

Unbilled revenues (included within Accounts receivable, net - Contracts with customers)	$	1,464	$	1,574

Deferred revenues(a)	213		227

(a) Deferred revenues from contracts with customers for the nine months ended September 30, 2022 and the year ended December 31, 2021 were approximately $207 million and $224 million, respectively

The revenue recognized from contracts with customers during the nine months ended September 30, 2022 and 2021 relating to the deferred revenue balance at the beginning of each period was $173 million and $23 million, respectively. The revenue recognized from contracts with customers during the three months ended September 30, 2022 and 2021 relating to the deferred revenue balance at the beginning of each period was $159 million and $162 million, respectively. The change in deferred revenue balances during the three and nine months ended September 30, 2022 and 2021 was primarily due to the usage of customer bill credits by certain C&I customers, which were as a result of power pricing during Winter Storm Uri.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Long-term Debt and Finance Leases

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Long-term Debt and Finance Leases

Long-term debt and finance leases consisted of the following:


(In millions, except rates)	September 30, 2022		December 31, 2021		Interest rate %
Recourse debt:
Senior Notes, due 2027	$	375	$	375	6.625
Senior Notes, due 2028	821		821		5.750
Senior Notes, due 2029	733		733		5.250
Senior Notes, due 2029	500		500		3.375
Senior Notes, due 2031	1,030		1,030		3.625
Senior Notes, due 2032	1,100		1,100		3.875
Convertible Senior Notes, due 2048(a)	575		575		2.750
Senior Secured First Lien Notes, due 2024	600		600		3.750
Senior Secured First Lien Notes, due 2025	500		500		2.000
Senior Secured First Lien Notes, due 2027	900		900		2.450
Senior Secured First Lien Notes, due 2029	500		500		4.450

Tax-exempt bonds	466		466		1.250 - 4.750

Subtotal recourse debt	8,100		8,100




Finance leases	12		13		various
Subtotal long-term debt and finance leases (including current maturities)	8,112		8,113
Less current maturities	(62)		(4)
Less debt issuance costs	(74)		(83)
Discounts	(2)		(60)
Total long-term debt and finance leases	$	7,974	$	7,966

2048 Convertible Senior Notes

Accounting for Convertible Senior Notes — Upon issuance in 2018, the Convertible Senior Notes were separated into liability and equity components for accounting purposes. The carrying amounts of the liability component was initially calculated by measuring the fair value of similar liabilities that do not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the Convertible Senior Notes. This difference represented the debt discount that was amortized to interest expense over seven years, which was determined to be the expected life of the Convertible Senior Notes, using the effective interest rate method. The equity component was recorded in additional paid-in capital and was not remeasured as it continued to meet the conditions for equity classification.

Following the adoption of ASU 2020-06 as of January 1, 2022, the Company no longer records the conversion feature of its convertible senior notes in equity. Instead, the Company combined the previously separated equity component with the liability component, which together is now classified as debt, thereby eliminating the subsequent amortization of the debt discount as interest expense. As a result of the provisions of the amended guidance, the Company recorded a $100 million decrease to additional paid-in capital, a $57 million decrease to debt discount, a $57 million increase to retained earnings and a $14 million decrease to long-term deferred tax liabilities. For more information on the adoption of ASU 2020-06, refer to Note 2, Summary of Significant Accounting Policies.

Modification to Convertible Senior Notes — On February 22, 2022, the Company irrevocably elected to eliminate the right to settle conversions only in shares of the Company's common stock, such that any conversion after such date, the Company will pay cash per $1,000 principal amount and will settle in cash or a combination of cash and the Company's common stock for the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount.

Convertible Senior Notes Features — As of September 30, 2022, the Convertible Senior Notes were convertible, under certain circumstances, into cash or a combination of cash and the Company’s common stock at a price of $43.77 per common share, which is equivalent to a conversion rate of approximately 22.8467 shares of common stock per $1,000 principal amount of Convertible Senior Notes. The Convertible Senior Notes mature on June 1, 2048, unless earlier repurchased, redeemed or converted in accordance with their terms. The Convertible Senior notes are convertible at the option of the holders under certain circumstances. Prior to the close of business on the business day immediately preceding December 1, 2024, the Convertible

Senior Notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter during specified periods as follows:

•from December 1, 2024 until the close of business on the second scheduled trading day immediately before June 1, 2025; and

•from December 1, 2047 until the close of business on the second scheduled trading day immediately before the maturity date

The following table details the interest expense recorded in connection with the Convertible Senior Notes, due 2048:


	Three months ended September 30,						Nine months ended September 30,
($ In millions)	2022			2021			2022			2021
Contractual interest expense	$	4		$	4		$	12		$	12
Amortization of discount and deferred finance costs	—			4			1			12
Total	$	4		$	8		$	13		$	24

Effective Interest Rate	0.76		%	1.34		%	2.28		%	3.99		%

Receivables Securitization Facilities

On February 9, 2022, the Company entered into amendments to its existing Repurchase Facility to, among other things, (i) increase the size of the facility from $75 million to $150 million and (ii) replace LIBOR with term SOFR as the benchmark for the pricing rate. The Repurchase Facility has no commitment fee and borrowings will be drawn at SOFR + 1.30%. On July 26, 2022, the Company renewed its existing Repurchase Facility to, among other things, extend the maturity date to July 26, 2023. As of September 30, 2022, there were no outstanding borrowings.

On July 26, 2022, NRG Receivables LLC, a wholly-owned indirect subsidiary of the Company, entered into an amendment to its Receivables Facility dated September 22, 2020 with a group of conduit lenders and banks and Royal Bank of Canada, as Administrative Agent to, among other things, (i) extend the scheduled termination date by one year, (ii) increase the aggregate commitments from $800 million to $1.0 billion, (iii) increase the letter of credit sublimit to equal the aggregate commitments, (iv) replace LIBOR with Term SOFR as the benchmark for borrowings and (v) add new originators. The weighted average interest rate related to usage under the Receivables Facility as of September 30, 2022 was 0.836%. As of September 30, 2022, there were no outstanding borrowings and there were $884 million in letters of credit issued under the Receivables Facility.

Bilateral Letter of Credit Facilities

On April 29, 2022, May 27, 2022 and October 13, 2022, the Company increased the size of the facilities by $100 million, $50 million and $50 million respectively, to provide additional liquidity, allowing for the issuance of up to $675 million of letters of credit. As of September 30, 2022, $592 million was issued under these facilities.

Accounting for Derivative Instruments and Hedging Activities - Net Notional Volume Buy/Sell of Open Derivative Transactions (Details) - Long certificate in Millions, bbl in Millions, T in Millions, MWh in Millions, MMBTU in Millions, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) MMBTU MWh certificate T bbl	Dec. 31, 2021 USD ($) MMBTU MWh certificate T bbl
Emissions
Volumetric Underlying Derivative Transactions
Derivative, nonmonetary notional amount, mass (ton)	1	1
Renewable Energy Certificates
Volumetric Underlying Derivative Transactions
Derivative, non-monetary notional amount (in shares) \| certificate	11	13
Coal
Volumetric Underlying Derivative Transactions
Derivative, nonmonetary notional amount, mass (ton)	13	19
Natural Gas
Volumetric Underlying Derivative Transactions
Derivative, nonmonetary notional amount, energy measure (MMBtu/MW/Day) \| MMBTU	748	813
Oil
Volumetric Underlying Derivative Transactions
Derivative, nonmonetary notional amount (in barrels) \| bbl	0	1
Power
Volumetric Underlying Derivative Transactions
Derivative, nonmonetary notional amount, energy measure (MMBtu/MW/Day) \| MWh	176	185
Foreign Exchange
Volumetric Underlying Derivative Transactions
Derivative, notional amount \| $	$ 502	$ 279

Long-term Debt and Finance Leases - Interest Expense in Connection with Convertible Senior Notes, due 2048 (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Amortization of financing costs and debt discounts			$ 17	$ 30
Convertible Senior Notes due 2048 \| Recourse Debt
Debt Instrument [Line Items]
Contractual interest expense	$ 4	$ 4	12	12
Amortization of financing costs and debt discounts	0	4	1	12
Total	$ 4	$ 8	$ 13	$ 24
Effective Interest Rate	0.76%	1.34%	2.28%	3.99%

Accounting for Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2022

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	September 30, 2022		December 31, 2021
Emissions	Short Ton	1		1
Renewable Energy Certificates	Certificates	11		13
Coal	Short Ton	13		19
Natural Gas	MMBtu	748		813
Oil	Barrels	—		1
Power	MWh	176		185

Foreign Exchange	Dollars	$	502	$	279

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)	September 30, 2022		December 31, 2021		September 30, 2022		December 31, 2021




Derivatives Not Designated as Cash Flow or Fair Value Hedges:


Foreign exchange contracts - current	$	16	$	—	$	—	$	1
Foreign exchange contracts - long-term	14		1		—		—
Commodity contracts - current	9,922		4,613		6,841		3,386
Commodity contracts - long-term	4,900		2,526		2,802		1,412
Total Derivatives Not Designated as Cash Flow or Fair Value Hedges	$	14,852	$	7,140	$	9,643	$	4,799

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 September 30, 2022
Foreign exchange contracts:

Derivative assets	$	30	$	—	$	—	$	30

Commodity contracts:
Derivative assets	$	14,822	$	(8,987)	$	(3,081)	$	2,754
Derivative liabilities	(9,643)		8,987		29		(627)
Total commodity contracts	$	5,179	$	—	$	(3,052)	$	2,127




Total derivative instruments	$	5,209	$	—	$	(3,052)	$	2,157


	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, 2021
Foreign exchange contracts:
Derivative assets	$	1	$	(1)	$	—	$	—
Derivative liabilities	(1)		1		—		—
Total foreign exchange contracts	$	—	$	—	$	—	$	—
Commodity contracts:
Derivative assets	$	7,139	$	(4,440)	$	(831)	$	1,868
Derivative liabilities	(4,798)		4,440		17		(341)
Total commodity contracts	$	2,341	$	—	$	(814)	$	1,527






Total derivative instruments	$	2,341	$	—	$	(814)	$	1,527

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 September 30, 2022
Foreign exchange contracts:

Derivative assets	$	30	$	—	$	—	$	30

Commodity contracts:
Derivative assets	$	14,822	$	(8,987)	$	(3,081)	$	2,754
Derivative liabilities	(9,643)		8,987		29		(627)
Total commodity contracts	$	5,179	$	—	$	(3,052)	$	2,127




Total derivative instruments	$	5,209	$	—	$	(3,052)	$	2,157


	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, 2021
Foreign exchange contracts:
Derivative assets	$	1	$	(1)	$	—	$	—
Derivative liabilities	(1)		1		—		—
Total foreign exchange contracts	$	—	$	—	$	—	$	—
Commodity contracts:
Derivative assets	$	7,139	$	(4,440)	$	(831)	$	1,868
Derivative liabilities	(4,798)		4,440		17		(341)
Total commodity contracts	$	2,341	$	—	$	(814)	$	1,527






Total derivative instruments	$	2,341	$	—	$	(814)	$	1,527

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 September 30,				Nine months ended September 30,
Unrealized mark-to-market results	2022		2021		2022		2021
Reversal of previously recognized unrealized (gains) on settled positions related to economic hedges	$	(387)	$	(97)	$	(992)	$	(58)
Reversal of acquired (gain)/loss positions related to economic hedges	(15)		(42)		(27)		206
Net unrealized gains on open positions related to economic hedges	313		1,924		3,926		3,875
Total unrealized mark-to-market (losses)/gains for economic hedging activities	(89)		1,785		2,907		4,023
Reversal of previously recognized unrealized losses/(gains) on settled positions related to trading activity	2		(6)		11		(16)

Net unrealized gains/(losses) on open positions related to trading activity	7		14		(18)		18
Total unrealized mark-to-market gains/(losses) for trading activity	9		8		(7)		2
Total unrealized (losses)/gains	$	(80)	$	1,793	$	2,900	$	4,025


	Three months ended September 30,				Nine months ended September 30,
(In millions)	2022		2021		2022		2021
Unrealized gains/(losses) included in revenues - commodities	$	42	$	11	$	(255)	$	(97)
Unrealized (losses)/gains included in cost of operations - commodities	(148)		1,777		3,124		4,121
Unrealized gains included in cost of operations - foreign exchange	26		5		31		1
Total impact to statement of operations - commodities	$	(80)	$	1,793	$	2,900	$	4,025

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par or value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	423,894,539	423,547,174
Common stock, shares outstanding (in shares)	232,125,137	243,753,899
Treasury stock, shares (in shares)	191,769,402	179,793,275

Changes in Capital Structure - Changes in NRG's Common Stock Issued and Outstanding (Details) - shares	1 Months Ended	3 Months Ended	9 Months Ended	10 Months Ended
	Oct. 31, 2022	Jun. 30, 2022	Sep. 30, 2022	Oct. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			500,000,000		500,000,000
Schedule of Stock by Class, Equity [Roll Forward]
Balance as of beginning of period (in shares)	423,894,539		423,547,174	423,547,174
Treasury shares, balance as of beginning of period (in shares)	(191,769,402)		(179,793,275)	(179,793,275)
Outstanding, as of beginning of period (in shares)	232,125,137		243,753,899	243,753,899
Stock issued under ESPP (in shares)		1,000,000
Shares repurchased (in shares)			(12,045,068)
Balance as of end of period (in shares)			423,894,539
Treasury shares, balance as of end of the period (in shares)			(191,769,402)
Outstanding, as of end of period (in shares)			232,125,137
Shares issued under LTIPs
Schedule of Stock by Class, Equity [Roll Forward]
Shares issued under LTIPs (in shares)			347,365
Shares issued under ESPP
Schedule of Stock by Class, Equity [Roll Forward]
Stock issued under ESPP (in shares)			68,941
Subsequent Event
Schedule of Stock by Class, Equity [Roll Forward]
Shares repurchased (in shares)	(1,817,278)
Outstanding, as of end of period (in shares)	230,384,205			230,384,205
Subsequent Event \| Shares issued under LTIPs
Schedule of Stock by Class, Equity [Roll Forward]
Shares issued under LTIPs (in shares)	2,462
Subsequent Event \| Shares issued under ESPP
Schedule of Stock by Class, Equity [Roll Forward]
Stock issued under ESPP (in shares)	73,884
Common Stock
Schedule of Stock by Class, Equity [Roll Forward]
Balance as of beginning of period (in shares)	423,894,539		423,547,174	423,547,174
Shares repurchased (in shares)			0
Balance as of end of period (in shares)			423,894,539
Common Stock \| Shares issued under LTIPs
Schedule of Stock by Class, Equity [Roll Forward]
Shares issued under LTIPs (in shares)			347,365
Common Stock \| Shares issued under ESPP
Schedule of Stock by Class, Equity [Roll Forward]
Stock issued under ESPP (in shares)			0
Common Stock \| Subsequent Event
Schedule of Stock by Class, Equity [Roll Forward]
Shares repurchased (in shares)	0
Balance as of end of period (in shares)	423,897,001			423,897,001
Common Stock \| Subsequent Event \| Shares issued under LTIPs
Schedule of Stock by Class, Equity [Roll Forward]
Shares issued under LTIPs (in shares)	2,462
Common Stock \| Subsequent Event \| Shares issued under ESPP
Schedule of Stock by Class, Equity [Roll Forward]
Stock issued under ESPP (in shares)	0
Treasury
Schedule of Stock by Class, Equity [Roll Forward]
Treasury shares, balance as of beginning of period (in shares)	(191,769,402)		(179,793,275)	(179,793,275)
Shares repurchased (in shares)			(12,045,068)
Treasury shares, balance as of end of the period (in shares)			(191,769,402)
Treasury \| Shares issued under LTIPs
Schedule of Stock by Class, Equity [Roll Forward]
Shares issued under LTIPs (in shares)			0
Treasury \| Shares issued under ESPP
Schedule of Stock by Class, Equity [Roll Forward]
Stock issued under ESPP (in shares)			68,941
Treasury \| Subsequent Event
Schedule of Stock by Class, Equity [Roll Forward]
Shares repurchased (in shares)	(1,817,278)
Treasury shares, balance as of end of the period (in shares)	(193,512,796)			(193,512,796)
Treasury \| Subsequent Event \| Shares issued under LTIPs
Schedule of Stock by Class, Equity [Roll Forward]
Shares issued under LTIPs (in shares)	0
Treasury \| Subsequent Event \| Shares issued under ESPP
Schedule of Stock by Class, Equity [Roll Forward]
Stock issued under ESPP (in shares)	73,884

Changes in Capital Structure (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Changes in NRG's common shares issued and outstanding

As of September 30, 2022 and December 31, 2021, 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, 2021	423,547,174	(179,793,275)	243,753,899
Shares issued under LTIPs	347,365	—	347,365
Shares issued under ESPP	—	68,941	68,941
Shares repurchased	—	(12,045,068)	(12,045,068)
Balance as of September 30, 2022	423,894,539	(191,769,402)	232,125,137
Shares issued under LTIPs	2,462	—	2,462
Shares issued under ESPP	—	73,884	73,884
Shares repurchased	—	(1,817,278)	(1,817,278)
Balance as of October 31, 2022	423,897,001	(193,512,796)	230,384,205

Shares Repurchased

The following repurchases have been made during the nine months ended September 30, 2022, and through October 31, 2022:


	Total number of shares and share equivalents purchased	Average price paid per share and share equivalent	Amounts paid for shares and share equivalents purchased (in millions)
2022 repurchases
Repurchases(a)	12,045,068		$	483
Equivalent shares purchased in lieu of tax withholdings on equity compensation issuances(b)	150,448		6

Total Share Repurchases during the nine months ended September 30, 2022	12,195,516	$40.07	489
Repurchases made during October(a)	1,817,278		$	76
Equivalent shares purchased in October in lieu of tax withholdings on equity compensation issuances(b)	793		—
Total Share Repurchases January 1, 2022 through October 31, 2022	14,013,587	$40.28	$	565

(a)Includes $10 million and $6 million accrued as of September 30, 2022 and October 31, 2022, respectively