NRG · 10-Q · 2026Q2 · Full report
Commodity Price Risk Hedging
NRG ENERGY, INC. · 2026-08-04 · Importance 35 · Surprise 22 · In source text
NRG uses power purchase and sales contracts, fuel purchase contracts and other energy-related financial instruments to hedge fuel requirements at power plants and retail load obligations. As of June 30, 2026, the company reported a $358 million net derivative asset, down $39 million from December 31, 2025, primarily due to fair-value losses and LSP Portfolio contracts acquired, partly offset by settled trades. A $0.50 per MMBtu change in natural gas prices would change the net value of derivatives by approximately $879 million, indicating substantial exposure to natural-gas market movements.
Key facts
- Based on a sensitivity analysis, a $0.50 per MMBtu increase or decrease in natural gas prices across the term of the derivative contracts would result in a change of approximately $879 million in the net value of derivatives as of June 30, 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | mixed | contingent | 0.0% | Based on a sensitivity analysis, a $0.50 per MMBtu increase or decrease in natural gas prices across the term of the derivative contracts… |