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JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc.

Nrg Energy Inc. · Jun 15, 2015 · 39 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 1
    NRG Energy, Inc. (NYSE: NRG) Investor Presentation June 2015
  2. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 2
    NRG: Corporate Overview Key Information LTM Financial Highlights Ticker: NRG (NYSE) Revenues: 16.2Bn Market Capitalization1: 8.16Bn Adjusted EBITDA: 3.2Bn Net Generation Capacity2: 51GW Adjusted Cash From Operations: 1.4Bn NRG…
  3. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 3
    NRG: Premium Competitive Energy Business Platform Competitive Energy Business Model Organized Around the NRG Group of Companies Go Green Expand Retail Enhance Core Generation Balanced Capital Allocation Reinvestment…
  4. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 4
    NRG Business: Platform Approach to the Energy Business NRG Business Platform Wholesale Services Platform Distributed B2B Unmatched portfolio Win the crossover value Capabilities in place to positioned to survive between…
  5. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 5
    NRG Business: Leading Wholesale Generation Portfolio Key Markets: East (24,600 MW) Scale 46,100 MW1 Scale and Diversification Insurance Product (Capacity) Maintain Energy Option Wholesale Regional Merit Order Fuel CAISO…
  6. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 6
    NRG Business: Services & Distributed B2B Customer Aggregation Virtual Power Plant Commercial Ancillary Services Aggregate Generation Operations Services Maintenance Services Distributed Technical Services Wholesale Platform…
  7. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 7
    NRG Home: Overview NRG Home: Cross-Marketing Opportunities Geographic Presence SOLAR NRG Retail NRG Retail Security Energy Services NRG Home Solar Management Both Retail and Residential Solar Distributed Protection…
  8. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 8
    NRG Home Retail Industry-Leading Platform 1 Retail Energy Provider in TX; 2 in US 3 million recurring customers in Texas and the Northeast Mass Customer Count1 Home Retail Load Served (millions) (TWh) Leveraging industry-leading…
  9. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 9
    NRG Home Solar A Huge Market and Opportunity with Unique NRG Home Solar Business Model Evolution Competitive Advantage Fast-growing residential solar company with huge market opportunity Positioning within NRG provides a…
  10. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 10
    NRG Renew: Industry-Leading Clean Energy Platform Strategy & Highlights Key Projects Kaiser Permanente: Distributed Solar Program that will include up NRG is the 3rd largest US-based to 170MW across 170 Kaiser Permanente sites in…
  11. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 11
    eVgo: A Distinct Business With Strong NRG Linkages Substantial Partnership Network that will Position eVgo to Capture Substantial Market Share NRG eVgo Value throughout NRG 48 Retail hosts 65 REV hosts Partnerships…
  12. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 12
    Carbon 360: Leveraging NRGs Coal Assets Carbon Capture Opportunity Limestone 10MM Tons of CO2 Value to NRG: annually Big Cajun II 14MM Tons of CO2 Enhances value and useful life of flagship coal fleet annually Provides unique and…
  13. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 13
    NRG Yield Ticker: NYLD (C Shares) Market Cap1: 4.1 BN NYLD.A (A Shares) Estimated Dividend Yield1: Target Dividend Growth2: 3.1% 15% - 18% Project Pipeline Capacity: NRG Energy Ownership Stake: 2.3+ GW 55.3% Conventional…
  14. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 14
    New NRG Yield Share Class Approval Enables efficient NRG capital replenishment and continued robust NRG Yield growth while preserving critical strategic partnership between NRG and NYLD New 1/100th vote class C shares approved on May…
  15. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 15
    ROFO Pipeline 2015 Acquisitions and Investments Project Technology Net MW COD Off-Take University of 12-year PPA with Fuel Cell 1.4 2015 Acquisitions closed Bridgeport University of Bridgeport in Q2 2015 Spring Canyon II & 25-year…
  16. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 16
    NRG Financial Summary Results 2015 2015 Q1 Year-Over-Year Change ( millions) 1st Quarter Guidance 817 MM 840 MM Business & Renew1 552 1,935-2,060 134 MM Home Retail 166 575-650 (250 MM) 139 MM NRG Yield 122 690 Adjusted…
  17. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 17
    NRG Capital Allocation Strategy Capital allocation focus remains in-line with current sources of cash flow while earmarking a modest portion for long-term growth opportunities Conventional Proven Growth High Growth Total NRG 70%…
  18. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 18
    NRG Allocation of Expected 600 million 2015 Dropdowns1 Estimated Proceeds2 from Yield Dropdowns Through End of 2015 2Q15 4Q15 Total 2015 300 MM 300 MM 600 MM (EME Wind/ (CVSR/ Home-Solar/DG)2,3 Home-Solar/DG)2,3 1/3…
  19. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 19
    NRG Capital Expenditures1 2.0B 1.7B 1.6B 9% 10% 500 million 19% decline in 1.2B 18% Committed Capex Beyond…
  20. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 20
    NYLD 2015 Financial Overview ( in millions) Q1 Results 2015 Financial Guidance 1st Quarter 1st Quarter 2nd Quarter Full Year Guidance Adjusted EBITDA 122 125 Adjusted EBITDA 195 690 CAFD 6 (10) CAFD 35 195 1st Quarter CAFD…
  21. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 21
    Appendix 21
  22. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 22
    NRG: Premium Competitive Energy Platform NRG Group of Companies - Organized Around the Customer and Distinct Value Propositions Leading retail energy platform with 3.0 Largest US competitive generation portfolio with over 51 GW of…
  23. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 23
    NRG Q1 Earnings Presentation Managing Commodity Price Risk Coal and Nuclear Generation and Coal and Transport Hedge Position1,4 Retail Hedge Position1,2 109% 97% 100% 100% 95% 100% 84% 76% 58% 43% 40% 33% 31% 21% 20%…
  24. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 24
    NRG Q1 Earnings Presentation NRG Business: Market Outlook East: Robust Energy Market Benefits Existing ERCOT: Integrated Platform Performs Well Under Portfolio Multiple Market Scenarios 30 Historical Forecast ( millions)…
  25. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 25
    NRG Q1 Earnings Presentation NRG Business: Strengthening the Portfolio Project Estimated MW Description COD Repowering / Robinson Peakers 3601 Natural Gas Spring'16 Other Carlsbad Peakers2 533 Natural Gas Fall'17…
  26. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 26
    NRG Q1 Earnings Presentation Fixed Contracted and Capacity Revenue ( millions) 844 954 960 501 964 194 968 139 548 548 545 89 136 74 141 183 147 548 1,318 926 849 156 595 153 154 2015E 2016E 2017E…
  27. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 27
    NRG Q1 Earnings Presentation Residential Solar Monetization for NRG through NYLD Partnership Illustrative Impact of Monetization through NYLD Partnership Total CAPEX: 220 MM1 Tax Equity Proceeds: 170 MM Value to NRG: 100 MM NYLD…
  28. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 28
    Appendix: Reg. G Schedules 28
  29. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 29
    Reg. G: 1Q Free Cash Flow before Growth ( millions) 3/31/2015 3/31/2014 Variance Adjusted EBITDAR 873 845 28 Less: GenOn & EME operating lease expense (33) (28) (5) Adjusted EBITDA 840 817 23 Interest payments (258) (208)…
  30. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 30
    Reg. G: Full-Year Free Cash Flow before Growth ( millions) 12/31/2014 12/31/2013 Variance Adjusted EBITDAR 3,256 2,746 510 Less: GenOn & EME operating lease expense (128) (110) (18) Adjusted EBITDA 3,128 2,636 492 Interest…
  31. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 31
    Reg. G: 2015 Guidance Appendix Table A-1: 2015 Guidance The following table summarizes the calculation of Free Cash Flow before Growth and provides a reconciliation to Adjusted EBITDA ( millions) 2015 Guidance Business and Renew…
  32. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 32
    Reg. G Appendix Table A-1: First Quarter 2015 Adjusted EBITDA Reconciliation by Operating Segment The following table summarizes the calculation of Adjusted EBITDA and provides a reconciliation to net income Home Home ( millions)…
  33. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 33
    Reg. G Appendix Table A-2: First Quarter 2014 Adjusted EBITDA Reconciliation by Operating Segment The following table summarizes the calculation of Adjusted EBITDA and provides a reconciliation to net income Home Home ( millions)…
  34. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 34
    Reg. G Appendix Table A-3: First Quarter 2015 Regional Adjusted EBITDA Reconciliation for NRG Business The following table summarizes the calculation of Adjusted EBITDA and provides a reconciliation to net income ( millions) East Gulf…
  35. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 35
    Reg. G Appendix Table A-4: First Quarter 2014 Regional Adjusted EBITDA Reconciliation for NRG Business The following table summarizes the calculation of Adjusted EBITDA and provides a reconciliation to net income ( millions) East Gulf…
  36. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 36
    Reg. G Appendix Table A-5: Full Year 2014 Regional Adjusted EBITDA Reconciliation The following table summarizes the calculation of Adjusted EBITDA and provides a reconciliation to net income Home Home ( millions) Business Renew NRG…
  37. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 37
    NYLD Reg. G: Actuals Three Months Ended ( millions) 3/31/2015 3/31/2014 Net Income / (Loss) (16) 26 Plus: Income tax (4) 3 Interest expense, net 70 26 Depreciation, amortization, and ARO expense 55 24 Amortization of…
  38. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 38
    NYLD Reg. G: 2015 Guidance Full Year ( millions) Q2 2015 2015 Adjusted EBITDA 195 690 Pro-rata Adjusted EBITDA from unconsolidated affiliates (21) (89) Cash distributions from unconsolidated affiliates 9 79 Cash interest…
  39. JUNE 2015 INVESTOR PRESENTATION – Nrg Energy Inc. – slide 39
    Reg. G EBITDA and Adjusted EBITDA are non-GAAP financial measures. These measurements are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. The presentation of Adjusted…

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