-- NRG to restart power plant in Corpus Christi to help address low reserve margins --
NRG Energy, Inc. (NRG) expects to return to service its inactive 385 MW Gregory natural gas plant, in Corpus Christi, Texas. The Gregory plant ceased operations in late 2016 when its cogeneration partner, Sherwin Alumina, filed for bankruptcy and discontinued operations. Following resolution of certain issues resulting from the Sherwin Alumina bankruptcy, the Gregory plant is expected to return to service as a combined cycle facility in early June 2019.
“I am pleased to announce the return to service of this highly efficient natural gas plant,” said Mauricio Gutierrez, President and CEO of NRG. “The Public Utility Commission of Texas’ recent actions to further strengthen the ERCOT market reinforced our decision to return Gregory to service ahead of summer, providing additional reliability to our customers and Texas’ growing economy.”
At full power, the Gregory plant can meet the needs of approximately 77,000 homes on the hottest days of the year.
At NRG, we’re redefining power by putting customers at the center of everything we do. We create value by generating electricity and serving nearly 3 million residential and commercial customers through our portfolio of retail electricity brands. A Fortune 500 company, NRG delivers customer-focused solutions for managing electricity, while enhancing energy choice and working towards a sustainable energy future. More information is available at www.nrgenergy.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy, @nrginsight.
NRG Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include NRG’s expectations regarding the Gregory cogeneration plant and forward-looking statements typically can be identified by the use of words such as “will,” “expect,” “believe,” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, and changes in government regulation of markets and of environmental emissions. NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the Securities and Exchange Commission at www.sec.gov.