available Mass everyone, our morning, Operations. questions Thank of you, of and for Chris morning in your we interest I Head thank Kevin. Good have and Killinger, Retail am Kirk our for and on Moser, Chief call Also the you Andrews, NRG. Elizabeth by this joined Business; Head Financial Officer.
power debt. excess operations. We rebalanced on customers. our our made portfolio. We Over an a in credit metrics. IPP transforming achieved focused the progress streamlined slashed our our significant integrated from have our traditional our generation targeted our we monetized years company We to We and past X.X company
more it all perfecting financial these flexibility. created And make through are our business of efforts, to we stable. tremendous We
opportunities that we our can and lie long the have way with ahead. pleased come progress I excited am you very about a see, As and
However, does deliver in of not price performance model the our and to stock results. predictable resiliency reflect integrated the recent robust confidence our
remains Our the business confidence in absolutely unchanged.
the continue We demonstrate business to year-after-year. will of value our
we So key today's have outlined Slide presentation. with that for on messages X, the
First, another And stable our results our we during full are a of volatile platform integrated the delivered of demonstrating value our period quarter today, guidance. year of business prices. reaffirming financial
to Energy allocation making Second, of we're and Stream integrated approximately PPA we the gigawatts solar of continue our on of perfect with plan. the progress acquisition execution our And X.X capital generator. platform third, good
we finally During investment fully have the quarter, we debt targeted achieved grade credit our completed metrics. program and reduction our
incremental $XXX In to addition, billion. XXXX are we repurchases total brings which announcing program, an $X.X million repurchase share share our
financial quarter decile and top results on million safety for X, of we $XXX adjusted to operational Moving EBITDA. performance Slide achieved the delivered and the second
by by primarily retail of Generation and were quarter businesses. driven supply prices, power second and results complementary offset nature weather, mild costs The higher our wholesale higher demonstrating Retail the
basis and hand On have slide, sales the our we of right side for EBITDA similar quarter, asset consolidations. to same-store on a the last the adjusted provided
our business year, $XXX higher can last the than delivered year. the first half or you for million As of see, X%
better of Generation integrated financials, these XX our signing further of to years, and portfolio, Difficulty] length We an previously announced allows our platform. average made we complements further beyond Now and our balances us X.X serve of capital-light predictability significant perfecting our the customers approximately stability launched gigawatts which platform. at PPA our [Technical strategy generator solar
rate million. national leadership EBITDA more RCEs our closed of we multi-brand of This with the acquisition Residential adds increases and a Energy. addition, $XX than XXX,XXX acquisition or position retail Customer on In Stream Equivalents run
completes markets metrics his credit our at a balance in million total number levels. strengthening of by executed on and achieved investment reducing debt transactions and in This details Kirk debt our will additional our provide grade sheet also the section. We by very program $XXX attractive
repurchase total billion during the $X latest bringing program, completed our we year-to-date the to quarter, Also share $X.XX billion.
be In $XXX are completed year by to addition, share announcing million end. we repurchase program an incremental
the on We of $XXX as cash, our XXXX for quarter will million we call. third usually the remaining excess plans address earnings do,
However, we’re capital a of to reserving Nova Petra $XXX for this project. million up the
to Let to me JX service NRG ratio financial financing support closed we the test place lenders. a Petra Back below give XX-XX this prepayment one-time fell remain ratio proscribe a principal event the Nova’s some in partner in you threshold. the context. XXXX, to guarantees of guarantee provided project, our These for Nippon the when were which a debt in and
in and lenders the We to active in quarter. expect now the project have been we third negotiation fund with prepayment the
amount prepayment obligation will the become yet non-recourse is guarantee final to the Once guarantee limited is our debt made, determined, and to not has the terminate the Although, prepayment debt been the will amount. remaining NRG.
you So on on a brief the though model, now update wanted are provide our integrated Slide our of the of update we only moving in I to position middle to even summer. X, summer the on
quarter hand loads. than you the prices side, can on see normal weather impacted particularly and milder As both in was second left June which
far portfolio so performing is well. Our
Retail, with as Starting load. expected
We’re any sell also The help we and lower product, business, it during in second our other of will resulted weather impact demand results. Unlike less quarter consumer providing volumes. if programs energy consumers hours. load management milder manage during has our alerts conversation which the peak
XXX are additional and pre-summer withstand plant, For increased platform We summer. tight length to combined to and maintenance help which reliability outages ensure ERCOT against maintaining times. cycle units can ahead load run of to our this provides excess expanded our our And returned the unplanned Generation, we Gregory our system spikes. a to megawatt plant to we program service ensure
across We organization ensuring middle high-load the summer. and rest volatility we the ERCOT focused reliable portfolio, in of on to volumetric we’re still of we’re expect remain seeing summer, a or of this ahead operations the the our and exposure high limited I is through with week, rich] [how period, price halfway only a successful Given August us. to have is know risk. as
balance Now newbuilds. to tightened retirements remained turning you lack provide I ERCOT their outlines of never to it given and demand supply and asset X, has report semiannual expected CDR, the load The this and than Capacity update is side previous Slide in slide. on supply Research released which strong system in the upper balance demand ERCOT want growth, In an the been, market. of Demand or left May shown the
dependent wind you on reserve see, margins can solar. are particularly and As newbuilds, future
poor While the in build understanding or planned what of report what been current in year. helpful gets possible, CDR historically has is a indicator actually is it the
than of included project CDR the XX% renewal we reports in completed. fact, less In seen have
retire. little X that plans announced these more average X% closer the nearly financial three at to five no gigawatts natural And of look the included plants has interconnection. are than X.X for generation half already put delayed moving that report that security thermal a already of X.X gigawatts posted of signs reveal by forward. report Keep with yet of of solar the report an gigawatts included the been that gas The include margin. also in not years of from Together, reserve accounts does mind have a in have
we the margin of side, a these estimate the left solar factors In of to hand is for to megawatts lower XX% XX%. and amount the reserve to from some tried what table on adjust required of maintain
prices. are to power next we and table those in margins years. challenging over backward see estimate dated gigawatts necessary XX given new can this you the of in achieve As forward We signing reserve as three our PPAs recent the see experience a renewables the solar
reserve clear, margin me Let a amount be just the currently tremendous the it has. to of maintain ERCOT investment low needs simply
platforms This our the solar improve they for financing customers. to Now to PPAs our develop cost structure portfolio help the medium enable us, lower to we’re newbuilds developers project. a obtain from and to cost-effective allows PPAs. looking our perspective, tax And better facilitate profile, rebalance grid term into entering generation and us and complement by serve equity our to economically reliability
From prove future, of pure difficult generators the and volatile build-up. foreseeable market. be remain even will the or for renewable in This the large ERCOT retailers price to to for tight we a swings market should environment exposed in perspective, face a that expect
volatile And to strong cycle. deliver well integrated during platform this renewable Our emerging is results. positioned can us newbuild expect and predictable and you thrive to
give comment to our last want regarding one markets. I
know FERC auction. order August earlier As issued you an month all this capacity the delay directing to PJM
order final a uncertain. hopeful the end year, the be we’re issued the of action FERC will While by remains timeline
to subsidies on view and harmful effective market. strong continue capacity most the simplest the way of We reduce a to cost impact MOPR the at
as I way long in we beginning mentioned our And of have call, come the achieving a goals. at the
Slide how business. our summarizes we have transformed X
various cyclical have market businesses our and streamlined We operations. portfolio predictable complementary earnings and under have a rebalanced two provides stable encounter that Today, significantly conditions. we our
with are that We less operations. business the between have the crossing more Retail. and our more supports exposure on market the two Generation more achieve the to it fleet the are, with perfecting can focused even more businesses and generation The making retail we we our synergies balanced by we stable
our investment exposed cycles. risk no balance business, achieved changed By realigned and and grade power IPP your the we having longer We sheet also of traditional are feast metrics. the to have credit deliberately profile famine our of
platform. investment working Now, new recognize model demonstrate the will hard business rating. we’re achieving our grade to turn this We our but of relatively is focus into that stability
our of have we flexibility our Finally, with actions. created tremendous business financial
excess our model in deleveraging Now, and behind our cash perfecting returning beyond we focus XXXX to will and with program capital on our shareholders. our us,
to I it financial over will that, the turn for Kirk With review.
