NRG Energy to buy Green Mountain Energy Co.

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Princeton, N.J., September 17, 2010 — NRG Energy, Inc. formed a definitive agreement to acquire Green Mountain Energy Co., a retail provider of clean energy products and services, for $350 million in cash.

Green Mountain will be run as a standalone business within NRG. This acquisition, with an anticipated annual EBITDA contribution of $70 million, is immediately accretive to EBITDA and free cash flow. NRG anticipates funding the transaction with cash on hand upon transaction close, which is expected by mid-November.

“A permanent and fast-growing portion of the American population is seeking to live sustainably across all key phases of their lifestyle, including the energy they use in their homes, at work and in their personal transportation. Green Mountain understands that customer base and serves it better than any other retail energy provider,” said David Crane, NRG President and CEO.

“Increasingly NRG, with our expanding portfolio of wind, solar and biomass initiatives, working with and through Green Mountain, is poised to become the clean energy provider of choice for Americans who want to make a difference for the environment,” Crane said.

Aligning Green Mountain’s green retail franchise with NRG’s growing portfolio of renewable power assets and development pipeline creates the foundation for what will be the preeminent platform of clean energy solutions in Texas, New York and ultimately, other core markets served by Green Mountain and NRG.

“Our acquisition by NRG strengthens Green Mountain’s ability to provide the clean energy products that our customers value, while allowing us to reach new markets and offer greater consumer choice — all while preserving our founding ideals,” said Paul Thomas, Green Mountain President and CEO. “Our customers will continue to be Green Mountain customers.”

Green Mountain ranked highest in J.D. Power and Associates 2009 Texas Business Retail Electric Provider Satisfaction Study. Austin-based Green Mountain has residential and commercial customers primarily in Texas and the New York metro region.

Green Mountain also delivers green products and services to select utilities, including Portland General Electric — ranked as the number one green utility program by the Department of Energy’s National Renewable Energy Laboratory — as well as providers in New York and New Jersey.

The transaction is subject to customary closing conditions and regulatory approvals, including Department of Justice (Hart Scott Rodino) and the Federal Energy Regulatory Commission as well as other regulatory notices.

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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