NRG ENERGY, INC. (NRG) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that NRG ENERGY, INC. surfaced in its latest filing.

• Acquisition of the LSP Portfolio comprising 13 GW of natural gas-fired and dual fuel generation assets plus a demand response platform
• Assumption of power purchase agreements, tolling arrangements, O&M contracts, and demand response agreements in connection with the LSP Portfolio acquisition
• One Big Beautiful Bill Act signed into lawJuly 2025
• 15% corporate alternative minimum tax under the Inflation Reduction Act applies to NRG
• Capacity Performance product in PJM market could lead to substantial changes in capacity income and non-performance penalties
• Vivint Smart Home entered into a settlement with the FTC requiring compliance measures and a penalty or fine2021
• Ongoing settlement administration process involving the FTC for Vivint Smart Home
• Approximately 4% of NRG's employees were covered by U.S collective bargaining agreementsDecember 31, 2025
• NRG relies on sole or limited source suppliers for critical components of its smart home products and services
• NRG relies on a single contracted supplier or a small number of suppliers for fuel, chemicals, and other services for certain facilities