Skip to main content

NRG ENERGY INC

For the period ended Dec 31, 2024. Filed Feb 26, 2025.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 26, 2025

NRG$88.29+9.6%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits

Cover page

Show cover page

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K

☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the Fiscal Year ended December 31, 2024.
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the Transition period from to .

Commission file No.001-15891

NRG Energy, Inc.

(Exact name of registrant as specified in its charter)

Delaware(State or other jurisdiction of incorporation or organization)41-1724239(I.R.S. Employer Identification No.)
910 Louisiana Street, Houston, Texas(Address of principal executive offices)77002(Zip Code)

(713)537-3000

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading Symbol(s)Name of Exchange on Which Registered
Common Stock, par value $0.01NRGNew York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer ☒Accelerated filer☐
Non-accelerated filer ☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C 7262(b)) by the registered public accounting firm that prepared or issued its audit report☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐ No ☒

As of the last business day of the most recently completed second fiscal quarter, the aggregate market value of the common stock of the registrant held by non-affiliates was approximately $12,225,722,798 based on the closing sale price of $77.86 as reported on the New York Stock Exchange.

Indicate the number of shares outstanding of each of the registrant's classes of common stock as of the latest practicable date.

ClassOutstanding at January 31, 2025
Common Stock, par value $0.01 per share198,068,576

Documents Incorporated by Reference:

Portions of the Registrant's definitive Proxy Statement relating to its 2025 Annual Meeting of Stockholders

are incorporated by reference into Part III of this Annual Report on Form 10-K

TABLE OF CONTENTS

GLOSSARY OF TERMS3
PART I7
Item 1 — Business7
Item 1A — Risk Factors24
Item 1B — Unresolved Staff Comments40
Item 1C — Cybersecurity40
Item 2 — Properties42
Item 3 — Legal Proceedings43
Item 4 — Mine Safety Disclosures43
PART II44
Item 5 — Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities44
Item 6 — Reserved45
Item 7 — Management's Discussion and Analysis of Financial Condition and Results of Operations46
Item 7A — Quantitative and Qualitative Disclosures About Market Risk77
Item 8 — Financial Statements and Supplementary Data79
Item 9 — Changes in and Disagreements With Accountants on Accounting and Financial Disclosure79
Item 9A — Controls and Procedures80
Item 9B — Other Information82
Item 9C— Disclosure Regarding Foreign Jurisdictions that Prevent Inspections82
PART III83
Item 10 — Directors, Executive Officers and Corporate Governance83
Item 11 — Executive Compensation83
Item 12 — Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters83
Item 13 — Certain Relationships and Related Transactions, and Director Independence84
Item 14 — Principal Accounting Fees and Services84
PART IV85
Item 15 — Exhibits, Financial Statement Schedules85
EXHIBIT INDEX164
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.