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Investments Accounted for by the Equity Method and Variable Interest Entities
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Investments Accounted for by the Equity Method and Variable Interest Entities Investments Accounted for by the Equity Method and Variable Interest Entities
Entities that are not Consolidated
NRG accounts for the Company's significant investments using the equity method of accounting. NRG's carrying value of equity investments can be impacted by a number of elements including impairments and movements in foreign currency exchange rates.
The following table summarizes NRG's equity method investments as of December 31, 2023:
(In millions, except percentages)
Name:Economic
Interest		Investment Balance
Gladstone37.5 %$34 
Midway-Sunset Cogeneration Company50.0 %8 
Total equity investments in affiliates$42 
The following table summarizes the undistributed earnings from NRG's equity method investments as of December 31, 2023:
 As of December 31,
(In millions)20232022
Undistributed earnings$— $42 
Other Equity Investments
Gladstone — Through a joint venture, NRG owns a 37.5% interest in Gladstone, a 1,613 MW coal-fueled power generation facility in Queensland, Australia. The power generation facility is managed by the joint venture participants and the facility is operated by NRG. Operating expenses incurred in connection with the operation of the facility are funded by each of the participants in proportion to their ownership interests. Coal is sourced from local mines in Queensland. NRG and the joint venture participants receive their respective share of revenues directly from the off takers in proportion to the ownership interests in the joint venture. Power generated by the facility is primarily sold to an adjacent aluminum smelter, with excess power sold to the Queensland Government-owned utility under long-term supply contracts. NRG's investment in Gladstone was $34 million as of December 31, 2023.
Entities that are Consolidated
The Company has a controlling financial interest that has been identified as a VIE under ASC 810 in NRG Receivables LLC, which has entered into financing transactions related to the Receivables Facility as further described in Note 13, Long-term Debt and Finance Leases.
The summarized financial information for the Company's consolidated VIEs consisted of the following:
(In millions)December 31, 2023December 31, 2022
Accounts receivable and Other current assets$1,541 $2,108 
Current liabilities153 152 
Net assets$1,388 $1,956