today's and the Killinger, and X. Andrews, like key call I'd for Kevin, questions, Operations; have on our morning, our you, we start on for of good this call of the Kirk joined Elizabeth available and by Thank Moser, Retail three Chief everyone. to Also slide morning by I'm messages the Financial Officer. Head Chris highlighting business. presentation Head
out we this on First, the we deliver year. track are Transformation earlier Plan objectives on laid to
target third ahead year. we're of of our actually this savings, cost through the XXXX quarter For
is Second, today, guidance, provided Transformation in to we're our XXXX I line Plan. confirm which financial the pleased with in targets am initiating
regulatory of driven positive the competitive initiatives our asset time retirements a seeing core power reforming about multiple to ERCOT be our This in catalysts a to by from optimistic urgency markets. a of certainly Third, recovery we in that are number is markets power. highlight
our we progress Plan to across turning Transformation on Now making are slide all good update areas. X,
reaffirming are a full already accretion cost million have identifying on as we savings the us the have on margin free savings, end were $XXX in rate and savings recurring of in by XXX% And our XXXX focus with for of enhancement I run third at work some flow of year. quarter, starting XXXX. in This targets means we continuous hard led XXXX. cash improvement previously, told a realize cost XXXX. our million cost on has to realized We our Through savings which cost have jump anticipated in the achieved of to you enabled start target $XX plan early we our
addition, enhancing systems currently starting putting next in In transactions, for streamlining includes the offerings to improvements to we're customer and needed This for finalizing foundation analytics. from sophisticated place year. strategies customers, enhancing our margin to expanding for more IT realize everything
track. sales on asset Our remains process
up process very of are tell interest our business can and the of NRG target announced platform. process, sale a majority to vast you to this while in proceeds we anticipating total our XXX% we this Yield, this Renewables I an and is $X With reaffirming XXXX. are We of our to in is currently what ongoing billion respect be anticipate much that
us of consistent These interest to have will with value, clear, to not value any time end and the the assets But our allowed transactions. from level be of expectation We for the we are compromise to prospective buyers. maximize businesses advance with of unique pleased and announcing we significant objective with stages transactions in have our maintain by processes to move the year. created shareholder multiple that and of high-quality, these
On quarter and of million advantage our ourselves debt XXXX taken business to deleverage our we allocation focused on our the other allocation capital excess out future. completing cash call, remain take of front, Since to have our of we second goal. high-return $XXX position using the capital opportunities in structure, capital
Turning achieved our now quarter, results as quarter core Hurricane sustained on well reflects EBITDA as the markets to impacts for weather which third Harvey. million slide our adjusted in of of we X, $XXX the mild
I acquisition and impacts terms Retail have operating the its and the for coming retention, summer of As of and billion. disappointing we efficiencies, in which take our the full had still billion outlook made customer moment, have and our some offsetting of priorities. end and improving $X.X wholesale quarter to to us led want key a to guidance $X.X weather. results however, into business, results pricing the tracking this executing guidance progress low of Despite to to we summer, many continues lower year been on acknowledge strong the do the narrow EBITDA adjusted to opportunities, weather significant
we we execute safety. transformation, our As on remained on focused vigilant and have
better facilities single quarter, injury. This result recordable my we without with decile XXX a is operating every by one of achieved colleagues safety a at safety to embraced out a than performance For culture testament top the NRG. of the XXX
with recycle $XX portfolio proceeds NRG and cash XX-megawatt $XX to execute to through a quickly solar closing for our solar million on Yield, in million on partnership. a continue also partnership forming We capital opportunities new
the offer to addition, Solar XXX-megawatt we our NRG assets today of Buckthorn announcing are Yield. In
Plan retained importantly, the from in is This initiating XXXX of that with to in plants Transformation than this adjusted for more originally presentation, Transformation the Looking billion. projections summer. Petra expected removing are provided provide were several is the ahead included $X billion our XXXX, with targets our $X.X guidance lower announcement the in line later Kirk this associated despite will to field EBITDA our we and but, oil Plan Nova. businesses, guidance details in production
remained up and strong. the both as just But Northeast, and eliminating the below opportunity any drivers weather XXXX summer, X% at shy real-time were, of very the summer closer pricing. see right-hand cooling was load the extreme of settled gigawatts of coolest for August average scarcity weather XX.X below saw ERCOT's lack weak we normal in average, came turning for days this absence XX% ERCOT, ERCOT the you on August. XXXX this for the look prices nearly over summer, normal. resulted This X% In In five-year expectations. on-peak hurricane mild major can across very a prices a peak. experienced the the In key of Now ERCOT, fundamentals to and East peak Texas, July cooling we below upper XXXX X pre-summer weather with degree chart. degree despite XX% and since in days slide on
Coast, an was be summer of our way And for was terms to were say despite States. it storm proud business, Continental consumption, was storm. wettest flat Harvey the my ever we of colleagues major not Gulf while, In August many weather along in of adversity, XXXX United a was more to the the unprecedented devastating. Hurricane responded. total levels I plus In mild, hit for having the living XX hurricane. we XXXX this coolest face could years It historic the the
assistance the during X, a customers to other time women communities slide lights and to supported provided both and of I and the to each recognize take who moment on, of impacted need. men want our to kept a Turning NRG
as engaging But and storm. primary in I to and we beyond offices went pleased our above report by the no retail and concern corporate as emergency with power during safety, at always being our Hurricane am safety and be Harvey. or programs in first is to we could employees responders for First safety We as great be Texas, were foremost, customer community helping services with the assistance on on-site first relief beyond, our to ground, demonstrating our the And showed business the retailer communities, supply. concern their Reliant, programs. offer incidents flagship such have leadership for plants prepared
our to we're assessing to of Today, the all availability and impacts generation Our Gulf return maintained portfolio. XX% the determining offline, and testament and back we're plants of baseload to during of strategy. storm, our resiliency two only XX% Currently, availability reliability are the a generation. service actively of our our worst across
were our be customers. of side, about peak, of its at the Retail all today, estimate X% million businesses, weather XXXX. our and and to customers power in power nearly two the without our Between we storm On restored about $XX impacts to related been of financial has the
the operations, assess days to commitment deepest for situation, provide on across building the with updates. Once to for continue the you and following to As express my support communities I want any their storm. focus the effective in organization resilient to everyone will again, their we and their gratitude weeks safety, we necessary
the to slide gigawatts strong of In markets, a be Looking outlined over as retirement puts many steady, fundamentals. have announced forward, about capacity already we the market of reasons on on further generating pressure X. with recently excited X ERCOT,
For and expected lower the tightening summer delay even for and be further. at quite been lowest which such we reserve that of delays will industrial record, demand new could ERCOT of known to margin these number some new XX% is and ERCOT changes this have something time. The as in XXXX, put between asset alone retirements is on XX%. somewhere Other the builds anticipating market
has estimating earnings a margins reserve close last become XX%, were Just now reality. on our of call, which we to
are as important to past. to build have is prices, other justify it retirements in the (XX:XX) encouraged the the to new below we of are news has note these needed We weeks several prices done that assets these see what economics. generators market disciplined are while past that still is increased in uneconomic being power And during
do improving locational markets retirements power value strengthen ERCOT of recognize market the Now more health, important while are plants. must these to and should in
a is work grid Reliability provided locations important the that generators now recommendations are in they set benefits attributes the where to generators to improve all we load are pricing will for with power to resiliency already ERCOT continue compensated have close provide. and for and We the would ensure of centers to needed.
seeing Beyond calls market, to these positive reform. for we action developments ERCOT in are other the market several
taking to recall such power to for and NOPR, another reforms, has change, energy regulatory DOE where cannot several market the subsidy stat undergo stakeholders significant markets. led and time out-of-market significant competitive there competitive has to to generation, potential ISOs been are gas penetration, improve the proposed and prices, From reach urgency I report and grid This across note. for bodies PJM's attempts low As markets catalysts. continues other on renewable uneconomic
resiliency. market-based Kirk continue things for that capacity, out-of-market our reliability, generators that, a energy, for that subsidies all solutions turn provide: with will to uneconomic existing and over We recognize and generation financial vocal I for advocacy And the against services will review.
