Mass for Kevin, our we morning have morning, and you, and your and questions, for and Killinger, Moser, call joined Business; available Financial everyone, Chris Operations. Thank also I’m Elizabeth interest of Officer; by thank good NRG. Chief you in Head Andrews, Retail our and this Kirk of on Head the
and predictability our the experienced the weather the volatility. of on Slide in after and highlights the with like the summer simplicity to messages of significant start proposition value Texas X I with call particularly we key our would price platform, our that demonstrate
platform of range, allowing performed during of First, midpoint validating XXXX our to us guidance our our and again business. our around resilience the summer, the narrow the integrated well
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framework a to capital growing introducing shareholders. returned XX% our policy. excess to XX% a of more be supported are with by meaningful and targets These now returning of business, growth framework shareholders, consistent capital goal for our towards significant perfecting We dividend and while
to on quarter moving So our results highlights – Slide third on X.
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the and In record generation model. their demonstrate ability this price of very prices in the given I’m the extreme of volatility. a weather in integrated and It Texas for benefits challenging, platform to our demand. summer extreme resulted the and in a that teams deliver strong exactly retail record was volatility environment our period of proud price particularly that financial price during is performance
$X.X our up $X increase year, to stand range us billion, allowing XXXX now from results EBITDA narrow to billion. a midpoint adjusted the year-to-date Our billion $X.X around XX% to guidance last
megawatts continue of additional year. strategy, execute an our we X.X the signing to this total quarter, on gigawatts the During PPAs, capital-light XXX to solar bringing
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ability later This to billion guidance on EBITDA the growth to flow provide of and guidance ranges $X.XXX billion. to slide, $X.X stable market initiating details this adjusted predictable further guidance we’re Moving billion before will deliver both of Kirk demonstrates free and additional $X.XXX in to the right results billion through side conditions. call. our varying $X.X of XXXX cash guidance
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Slide Now look at in the a for closer turning X to summer Texas.
represented by weather days month. the left a cooling chart, top On we show degree
the resulted from September, their As for the weather see, early prices with forward mixed. was unique grid. in temperatures summer can in presented power and This indications. in Mild are you weather August power challenges summer, different warmer significantly
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meets higher and However, benefit the of to most September, August limiting from prices. unit ability our
price to platform our low stable environments. low load, provided high Now July’s the August slide, commercial supply turning right tools load, management, Underpinning build customer customers. and September’s residential of integrated strong results to and side was the and management outreach, and and risk price enhanced provided success high our through
the example have disappointing summer of predictability of is two underpins what conditions. Now business. of volatile more one now in higher model and of with predictability stability This opposite integrated the strength confidence of prices, XXXX and our with between different the and market very prices, through almost the summer forwards and the our demonstrated XXXX, real-time our real-time we
have on our for X, a we we take record review location flexibility created of capital, as to limited light the XXXX financial Now, particularly our track want on I entered calls moment with capital ourselves. to Slide in
distinct you our we outlined As three have recall, transformation. phases on
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entered Next, focus in X on with XXXX, integrate better the a to we with Phase and retail. generation portfolio align right-sizing
portfolio billion metrics, and over During this investment-grade in XX% creating which our flexibility. by $X our period, reduced balance strengthened generation sheet we credit to sales, financial asset tremendous executed
took excess flexibility, shareholders nearly mid-sized price financial by accretive of completed our And transactions XX% cash by dislocated stock allocating advantage towards our returning reducing and two and with capital over retail allocating XX% by this count of we our share XX%. to
phase priorities. redefining our financial I next with our want into move long-term we flexibility, business capital to provide additional principles as our significant into of and refinement and clarity Now and
our can right-hand side, to excellence balance you the see operational on As and unchanged. remains commitment sheet safety,
Our our in and shareholders. enhancement today calls, overall will is to cash to and value a past I focus meaningfully it capital Like on It discipline ours, predictable have business growing said returning return flow of believe shareholders. I regularly should part and capital creates proposition. like our company
Slide can allocation updated X. on see further on waterfall. capital side, framework Starting our me unpack Let the these left-hand you
way have a goals. come long achieving our We in
and achieved metrics. continue be to have what investment-grade we We credit believe maintain to operational and top excellence decile safety
to traded of establishing investments to XX% of are capital. a mix we target Today, our growth and XX% allocation return
no that For the complemented capital, policy, of creation those commitment capital strong case. base. growth story, returning shareholders viewed NRG unallocated is to value for a through dividend longer our new share listening lens are is broadening which was important the prior today, believe to primarily long-term I repurchases, an a attribute by to and both shareholder the through
growth. on First,
waterfall, see consistent will These either capital that financial and in our change no there with our our our will good, or is sound be can back you in strategy investment thresholds shareholders. on are meet the be returned to investments deployed they As criteria.
on Next, of capital. return
We from to a XXXX beginning rate. dividend of the and quarter growth share are $X.XX increasing our per first $X.XX in targeting to annual X% X% annual
capital of compelling shareholders investor as I predictability validate opportunities, stability of helps most the execute and flows. as cash our significant I investment to returning we also While broaden dividend provides our and see a believe base, in the to continue to one continue more visibility policy, added and stock
also will significant with dividend the complement programmatic We and share repurchases.
On of magnitude rate, free our XX% earnings the of If we and policy. the excess by cash we the this the shrink cash next illustrate the excess share for and our market of the while cash share midpoint remaining purchases, want allocation existing cap, would cash impact you of of over $X of or flow generate business, to our slide, right by maintain the to our side XX% of billion at that grow hurdle this excess before our deploying power annual excess of of the refined can scenario capital and XX% we XX% the XX%. our and years, growth grow five over our used cash, count see in dividend simply
over and stable dividend per growth five are while and and X% that predictable combination company a with next growth. flow share track cash share paying X% increasingly investments free an the flow are our the to years, cash compelling on to affordable We through annual repurchases of double compelling
it financial So over for with turn to will that, Kirk the I review.
