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...Within months NRG had announced $1.1bn in cost savings and almost $3bn in divestitures — including fossil fuel generation business GenOn, which it had acquired in 2012, and its stake in NRG Yield, which...
...to lure as much generation as possible on to the grid....
...The collapse in generation led some politicians to blame renewable energy sources to the exclusion of others....
...NRG, which owns a dozen Texas gas, coal and nuclear generating units with a capacity of 12GW, said that “power generation from fossil, renewable, and nuclear sources were all affected by the cold”....
...It had been a leader in building out a large renewable generation fleet alongside its legacy gas and coal-fired assets. But the architect of that effort was deposed as chief executive two years ago....
...But the company, whose market cap is $5bn, is the largest independent power producer in the US with operations in Texas, California and the US Northeast....
...It says NRG chose Mr Smitherman for its board because of his deep knowledge of Texas, where the company has about a quarter of its generation capacity and is the largest competitive retail energy provider...
...generation, and covering its costs by using the gas for oil production....
...Wyoming has a small tax on wind generation, and Oklahoma’s governor Mary Fallin has proposed one at a much higher rate....
...Mr Kleinfeld told analysts on a call that the company was “squarely concentrating on improving our operating performance” through cost reduction, margin enhancement and profitable revenue generation....
...NRG, the second-largest US power producer, has about a quarter of its generation capacity in Texas and has been reshaping its business so it relies less on squeezed wholesale power prices....
...Shares of wind-exposed yieldcos such as NextEra Energy Partners, Pattern Energy Group and NRG Yield, controlled by NRG Energy, have declined this year....
...According to Bernstein, NRG Energy will have a revenue increase equal to 62 per cent of earnings, Calpine 18 per cent and Exelon 16 per cent....
...Sir Jonathan, who was born in Chingford in northeast London, was knighted for “services to design and enterprise” three years ago....
...On educational background, the list skews heavily to selective schools in the Northeast....
...That comes from buying generation assets from its parent NRG Energy (which owns two thirds of the yieldco) and third parties....
...NRG Energy’s shares have risen 46 per cent in the past 12 months, almost double the gain in the US power generation sector....
...NRG Yield mainly serves as a vehicle for NRG Energy to own, operate and acquire contracted renewable and conventional generation and thermal infrastructure assets....
...The £82m plant, which will open this year, will be one of northeast England’s most significant industrial investments since Nissan’s arrival in 1984....
...Shares in NRG Energy, the largest IPP, are up a third in the past year. A harsh winter helped it boost its 2014 cash flow outlook by a fifth....
...Many tariffs are below the cost of generation, forcing cross subsidies which are paid for by industrial users....
...He added: “London and the southeast continue to power ahead of the rest of the UK in terms of employment generation.” Additional research by Keith Fray...
...It was best in Northern Ireland and the northeast....
...Cobalt’s sales pitch is based on the northeast’s colder climate, which reduces the cost of cooling IT equipment....
...GenOn, based in Houston but serving customers in the northeast US and California, operates more conventional coal and natural gas power plants, and was valued at $1.4bn on Friday....
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