Item 2 — Properties
−Removed: Listed below are descriptions of NRG's interests in facilities, operations and/or projects owned or leased as of December 31, 2024.
+Added: Listed below are descriptions of NRG's interests in facilities, operations and/or projects owned as of December 31, 2025.
The rated MW capacity figures provided represent nominal summer MW capacity of power generated.
−Removed: Net MW capacity is adjusted for the Company's owned or leased interest as of December 31, 2024.
−Removed: The Company believes its existing facilities, operations and/or projects are suitable for the conduct of its business.
+Added: Net MW capacity is adjusted for the Company's owned interest as of December 31, 2025.
+Added: The Company believes its existing facilities, operations and/or projects are suitable for the conduct of its business and sufficient to support its current operations.
The following table summarizes NRG's power production and cogeneration facilities by region:
3 unchanged sentences
Cedar Bayou 4 ERCOT Fossil Natural Gas TX 504 252 50.0
+Added: Chamon ERCOT Fossil Natural Gas TX 92 92 100.0
Greens Bayou ERCOT Fossil Natural Gas TX 327 327 100.0
Limestone ERCOT Fossil Coal TX 1,688 1,688 100.0
+Added: Port Comfort ERCOT Fossil Natural Gas TX 84 84 100.0
San Jacinto ERCOT Fossil Natural Gas TX 160 160 100.0
+Added: SJRR ERCOT Fossil Natural Gas TX 90 90 100.0
+Added: Texas Gulf Sulphur (Wharton) ERCOT Fossil Natural Gas TX 75 75 100.0
Wharton ERCOT Fossil Natural Gas TX 1,002 1,002 100.0
+Added: Victoria ERCOT Fossil Natural Gas TX 288 288 100.0
+Added: Victoria Port II ERCOT Fossil Natural Gas TX 86 86 100.0
Parish ERCOT Fossil Coal TX 2,514 2,514 100.0
3 unchanged sentences
Fisk PJM Fossil Oil IL 171 171 100.0
−Removed: Indian River (c)
−Removed: PJM Fossil Coal DE 410 410 100.0
Indian River PJM Fossil Oil DE 16 16 100.0
3 unchanged sentences
Total East 2,073 2,073
−Removed: West/Services/Other
−Removed: Cottonwood MISO Fossil Natural Gas TX 1,139 1,139 ___(e)
Gladstone Fossil Coal AUS 1,613 605 37.5
2 unchanged sentences
Stadiums and Other Renewable Solar various 4 4 100.0
−Removed: Total West/Services/Other 3,367 2,071
+Added: Total West/Other 2,228 932
Total Fleet 13,824 12,276
2 unchanged sentences
Additionally, ERCOT and PJM require periodic demonstration of capability, and the capacity may vary individually and in the aggregate from time to time
−Removed: (c) The Company previously announced the shut down of the Indian River facility.
−Removed: However, PJM identified reliability impacts resulting from the proposed deactivation and Indian River Unit 4 retired on February 23, 2025
−Removed: (d) Powerton is projected to close by December 31, 2028 to comply with ELG regulations
−Removed: (e) NRG leases 100% interests in the Cottonwood facility through a facility lease agreement expiring in May 2025 and operates the Cottonwood facility
−Removed: (f) On January 17, 2025, PG&E filed an advice letter to the CPUC seeking approval of a termination agreement between the utility and Solar Partners II, LLC and Solar Partners VIII, LLC, which include NRG’s ownership interests.
−Removed: If approved by the CPUC, this would result in the termination of PG&E’s PPAs with Ivanpah Units 1 and 3
−Removed: NRG owns several real properties and facilities related to its generation assets, other vacant real property unrelated to its generation assets, and properties not used for operational purposes.
+Added: (c) Powerton is projected to close by December 31, 2029 to comply with environmental requirements
+Added: (d) On January 17, 2025, PG&E filed an advice letter to the CPUC seeking approval of a termination agreement between the utility and Solar Partners II, LLC and Solar Partners VIII, LLC, which include NRG’s ownership interests.
+Added: On December 4, 2025, the CPUC rejected the contract termination agreement
+Added: NRG owns several real properties and facilities related to its generation assets, interest in construction projects, other vacant real property unrelated to its generation assets, and properties not used for operational purposes.
NRG believes it has satisfactory title to its plants and facilities in accordance with standards generally accepted in the electric power industry, subject to exceptions that, in the Company's opinion, would not have a material adverse effect on the use or value of its portfolio.
NRG leases its operational and corporate headquarters in Houston, Texas, its financial and commercial corporate offices in Princeton, New Jersey, its smart home corporate offices in Provo and Lehi, Utah, as well as its retail operations offices, smart home monitoring stations, call centers, warehouses and various other office space.
−Removed: Item 3 — Legal Proceedings
−Removed: See Item 15 — Note 22, Commitments and Contingencies , to the Consolidated Financial Statements for discussion of the material legal proceedings to which NRG is a party.
−Removed: Item 4 — Mine Safety Disclosures
−Removed: There have been no events that are required to be reported under this Item.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.