NRG Energy Closes Multiple Strategic Acquisitions

  NRG Energy Closes Multiple Strategic Acquisitions

   — Acquisition of Edison Mission Energy and Dominion’s competitive retail
 electricity business achieves progress across all three components of NRG’s
                               core strategy —

Business Wire

PRINCETON, NJ -- April 1, 2014

NRG Energy, Inc. (NYSE: NRG) has completed its previously announced strategic
acquisitions of substantially all the assets of Edison Mission Energy (EME)
and the competitive retail electricity business of Dominion Resources, Inc.
(NYSE: D) for $2,635 million and $165 million, respectively, both excluding
transaction adjustments for cash and working capital.  With the closing of
these two transactions,  NRG advances its overall strategy of enhancing its
generation fleet, expanding its retail business and growing its green
portfolio.

Enhancing Generation

The addition of EME’s nearly 8,000 megawatts (MW) brings NRG’s total fleet to
more than 53,000 MW of generating capacity – the second-largest in the US. The
addition of EME’s wind capacity, combined with NRG’s existing wind and solar
facilities, further diversifies the company’s renewable portfolio.

Expanding Retail

The acquisition of Dominion’s competitive retail electricity business will
add, after customary transitions, more than 500,000 customer accounts to NRG’s
retail footprint by the end of 2014, doubling  NRG’s northeast retail presence
across eight states and enhancing its leading position in Texas by adding the
Cirro Energy franchise. The acquisition gives NRG a substantially larger
customer platform in markets in which NRG is confident that it can enhance the
depth and breadth of customer relationships through the deployment of
customer-friendly services built around emerging energy technologies.

Growing Green

The closing of EME and Dominion’s retail electric business comes on the heels
of NRG’s acquisition of Roof Diagnostics Solar (RDS), announced on March 27.
NRG acquired RDS, one of largest solar sales and installation companies in
America, to support the company’s strategy to empower its customers who want
to control their own energy destiny through clean self-generation.

“Closing this trio of acquisitions in the past week materially enhances our
capabilities and our economies of scale in all of our key business areas,”
said David Crane, President and CEO of NRG. “By advancing across the full
range of our overall company strategy, we are giving consumers greater access
to clean energy and individual control over their energy future.”

About NRG

NRG is leading a customer-driven change in the U.S. energy industry by
delivering cleaner and smarter energy choices, while building on the strength
of the nation’s largest and most diverse competitive power portfolio. A
Fortune 500 company, we create value through reliable and efficient
conventional generation while driving innovation in solar and renewable power,
electric vehicle ecosystems, carbon capture technology and customer-centric
energy solutions. Our retail electricity providers – Reliant, Green Mountain
Energy, Cirro Energy, Energy Plus and NRG Residential Solutions – serve almost
3 million residential and commercial customers throughout the country. More
information is available at www.nrgenergy.com. Connect with NRG Energy on
Facebook and follow us on Twitter @nrgenergy.

NRG Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Such forward-looking statements are subject to certain
risks, uncertainties and assumptions and include NRG’s expectations regarding
the announced acquisitions and forward-looking statements typically can be
identified by the use of words such as “will,” “expect,” “believe,” and
similar terms. Although NRG believes that its expectations are reasonable, it
can give no assurance that these expectations will prove to have been correct,
and actual results may vary materially. Factors that could cause actual
results to differ materially from those contemplated above include, among
others, general economic conditions, hazards customary in the power industry,
competition in wholesale and retail power markets, the volatility of energy
and fuel prices, failure of customers to perform under contracts, changes in
the wholesale power markets, changes in government regulation of markets and
of environmental emissions, and our ability to achieve the expected benefits
of the announced acquisitions. NRG undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise. The foregoing review of factors that could cause
NRG’s actual results to differ materially from those contemplated in the
forward-looking statements included in this news release should be considered
in connection with information regarding risks and uncertainties that may
affect NRG’s future results included in NRG’s filings with the Securities and
Exchange Commission at www.sec.gov.

Contact:

NRG
Media:
Karen Cleeve, 609.524.4608
David Knox, 832.357.5730
or
Investors:
Chad Plotkin, 609.524.4526
Daniel Keyes, 609.524.4527
 
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