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NRG Energy history
NRG Energy company history timeline
NRG Energy was founded in 1989 and is headquartered in Princeton, NJ.“
NRG Energy was formed in 1989 as one of NSP’s wholly owned subsidiaries.
In 1991 it gained half-ownership of Jackson Valley Energy Partners.
The ten-person operation was headed by President Dave Peterson, an NSP veteran who had been vice-president, non-regulated generation, for NSP. NRG Energy, Inc. would then be incorporated in Delaware in May 1992.
In 1993 it became part of the Scudder Latin American Trust for Independent Power, an investment fund that bought and built power plants in Latin America and the Caribbean.
They continued to grow through acquisitions and in 2000, acquired Cajun Electric Power Cooperative’s facilities.
In 2001 NRG grew sales to more than $2.4 billion and net income topped $265 million.
In 2001, NRG Energy had a net ownership of 24,357 MW of generation globally, with 19,077 MW in the United States.
On May 14, 2003, NRG Energy filed for chapter 11 bankruptcy.
In 2003, Xcel Energy paid NRG Energy $752 million for the benefit of NRG Energy’s creditors and took a $2 billion write-off.
Crane succeeded quickly in turning around the new NRG, and in 2004 the company reported revenues of $2.36 billion and net income of $185.6 million, results that exceeded management's expectations.
Progress continued in 2005, when sales increased to more than $2.7 billion and NRG posted net income of $84 million.
By 2005, NRG Energy was expanding again and added 7,600 MW of domestic capacity to its portfolio.
2006 Texas Genco is acquired.
By 2011, NRG Energy’s generation portfolio had 25,135 MW, with only 1,000 MW outside of the United States.
During December 2015, NRG Energy released David Crane of his duty and Mauricio Gutierrez, the Chief Operating Officer at the time, was brought on as Chief Executive and President of NRG Energy.
In March 2018, NRG Energy acquired XOOM Energy, a retail electricity provider, for $210 million.
In a partnership with Cypress Creek Renewables, NRG is offering a long-term, fixed price, consumer solar energy project in June 2018.
The solar project is expected to come online by the first quarter of 2019.
Fortune 500 company6,500+ employeesRoughly 6 million customers6,300+ volunteer hours in 2021$10 MM in donations in 20212021 Newsweek—America’s most responsible companies
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NRG Energy competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| American Electric Power | 1906 | $19.7B | 17,666 | 232 |
| Calpine | 1984 | $10.1B | 2,256 | 81 |
| Duke Energy | 1904 | $30.4B | 27,535 | 146 |
| Exelon | 2000 | $23.0B | 33,383 | 338 |
| Ameren | 1997 | $7.6B | 8,615 | 87 |
| Eversource Energy | 1927 | $11.9B | 8,084 | 379 |
| Dominion Energy | 1909 | $13.9B | 21,000 | 169 |
| FirstEnergy | 1997 | $13.5B | 12,153 | 187 |
| CenterPoint Energy | 1882 | $8.6B | 7,977 | 5 |
| PSEG | 1903 | $10.3B | 12,945 | 222 |
NRG Energy history FAQs
Zippia gives an in-depth look into the details of NRG Energy, including salaries, political affiliations, employee data, and more, in order to inform job seekers about NRG Energy. The employee data is based on information from people who have self-reported their past or current employments at NRG Energy. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by NRG Energy. The data presented on this page does not represent the view of NRG Energy and its employees or that of Zippia.
NRG Energy may also be known as or be related to NRG, NRG Energy, NRG Energy Inc, NRG Energy, Inc. and Nrg Energy.