# Who are NRG Energy's customers? Who does NRG Energy earn revenue from?
Canonical: https://valuechain.wiki/nrg-energy · Facet: customers · Updated: 2026-09-24T04:43:24.255219+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: NRG Energy discloses no named confirmed revenue counterparties; 3 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 3 revenue edges, backed by 3 dated sources, 1 of them primary filings (as of 2026-09-24).

### 소매 전력·가스 고객 (약 800만 가구) (high)
- note: Sells power/gas to ~8M homes via Reliant, Direct Energy and Green Mountain — most of revenue (FY2025 retail $29,543M) and the stable cash-flow floor.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-24) https://www.sec.gov/Archives/edgar/data/1013871/000101387126000004/nrg-20251231.htm: "NRG...serves electricity, natural gas, and smart-home technology solutions to approximately 8 million residential customers (comprised of 6 million retail energy and 2 million smart home)... Retail revenue $ 29,543"

### 도매·용량 시장 (ERCOT·PJM) (high)
- note: Sells wholesale energy and capacity from its owned fleet into ISO markets (ERCOT, PJM). FY2025 energy revenue $590M, capacity revenue $280M.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-24) https://www.sec.gov/Archives/edgar/data/1013871/000101387126000004/nrg-20251231.htm: "Energy revenue (a) 590 500 90 Capacity revenue (a) 280 177 103"

### 데이터센터·대형부하 고객 (mid)
- note: Targets AI-datacenter large loads with 5.4GW of gas generation (incl. BYOP) — a new growth axis atop retail cash flow; Jefferies sees ~$1bn of 2030 EBITDA upside.
- [mentions] SEC EDGAR (EN, filing, published 2026-02-24) https://www.sec.gov/Archives/edgar/data/1013871/000101387126000004/nrg-20251231.htm: "The Company is advancing opportunities to meet growing demand, including from data centers, other large load customers, and electrification."
- [mentions] Investing.com (Jefferies) (EN, research, accessed 2026-07-11) https://www.investing.com/news/analyst-ratings/jefferies-raises-nrg-energy-stock-price-target-on-data-center-growth-93CH-4609436: "Jefferies raised NRG's price target on data center growth, projecting 5.4GW of data center upside and $1B of EBITDA upside by 2030."
- [mentions] Seoul Economic Daily (KO, news, accessed 2026-07-11) https://www.sedaily.com/article/20039228: "As the AI race intensifies, stable and cheap natural gas is drawing attention as the near-term fix for the power crunch."

Reverse side: https://valuechain.wiki/nrg-energy/suppliers.md · Ripple: https://valuechain.wiki/nrg-energy/ripple.md

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Full node: https://valuechain.wiki/nrg-energy.md · JSON: https://valuechain.wiki/nrg-energy.json