DRAFT CONFIDENTIAL AND PROPRIETARY_vFinal NRG Reset Business Update September 18, 2015
Todays Discussion Agenda Business Update Key Takeaways: Core Wholesale / Retail Operations 425 MM: Increase in PJM Capacity Revenue Home Solar Results and Outlook from 16/17 to 18/19 due to Capacity Performance PJM Capacity…
Core Business Update The Core Business Continues to Perform Admirably Forwards -vs- Actuals Retail Customer Count (000s)1 (July - August) Customers 60 3,000 excluding Dominion East On Peak (/MWh) 50 2,500 contracts purchased…
NRG Home Solar:2015 Outlook NRG Cash Requirements Significantly Poised for Strong 2H Performance Reduced From Original Guidance 2015E New Customer Count1 7 Est. 2015 YE 25,000 Target Actuals Projections 20-25K (207%) 20,000…
Announcing Next Drop Down: Edison Mission Wind Portfolio Assets Being Dropped Down1 Transaction Highlights1 (MM) ( millions) Transaction Summary Cash Proceeds 210 to NRG2 Net MW5: 814 Plus: Debt & Tax Equity3 242 Weighted…
NRG Reset 7
NRG Reset Why Now Growth Entrepreneurial Prioritized Industry Trends Opportunities Approach Capital Allocation Societal, sector and These trends create NRGs green NRG and NRG Yields technology trends opportunities for businesses…
Simplifying NRG Disciplined allocation of capital Wholesale1 Retail for growth across all business segments Simplified approach to measure value of company Reduced cost structure GreenCo Prioritized decision making 2…
Part 1: Unique Clean Energy Customer-Facing Platform GreenCo Benefits High double digit top line growth High customer preference correlation GreenCo Internal cost synergies with leaner management and back office economies…
Part 2: The NRG Runway Projected Use of NRG Runway in 2016 Excludes: ( millions) 84 MM for EVgo California litigation settlement 140 NRGs Financial Limit Est. Drawn Revolver Balance 120 Structural Considerations: 100…
Part 3: Streamlined Organization Reducing Overhead Costs1,2 Through Key Efforts ( millions) Targeting 150 MM Streamlined organizational structure in Reductions both at NRG and GreenCo Narrowed focus of new business initiatives…
Part 4: Asset Rebalancing Program 50,000 MW Portfolio Modifications to Planned Investments Underwent Rigorous Review over Past 6 Months Strategic Initiative Announced Today Status Revised Opportunity Cost of Capital Avon Lake Unit…
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Announcing Next Drop Down: RecalibrationEdison of NRGMission Yield Wind Portfolio Focus On: Without Any Further Dropdowns1, NYLD Can Grow its Dividend at Targeted Rate Through 2018 Delivering Target DPS Growth Organic…
Capital Allocation: Focusing on the Balance Sheet 2015 Update1 NRG Reset: Setting up for 2016 Already Committed Plan Confirmed Shareholder Return Debt Reduction By 3Q 15 Call Through 2016 Dividend: 195 MM Cost Reductions Asset…
Summary Increase in PJM Capacity Revenue from 16/17 to 18/19 due to Capacity 425 MM Performance Expected Proceeds from EME Wind Dropdown 210 MM NRGs Financial Limit to GreenCo, Commencing Jan 1, 2016 125 MM Annualized NRG Cost…
Reg. G Appendix Table: 2015 Home Solar Adjusted EBITDA Guidance Home Home ( millions) Solar Solar (08/04/2015) (05/08/2015) Net (Loss) / Income (197) (127) Plus: Interest expense, net 2 - Income tax - - Depreciation,…
Reg. G: Run Rates 75% interest of EME Wind Drop Down ( millions) Run-Rate Income / (Loss) before Tax (1) Plus: Interest expense, net 10 Depreciation, amortization, and ARO 45 expense Adjustment to reflect NRG share of…
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