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Benefit Plans and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Net Benefit Cost (Credit) Related to Pension and Other Postretirement Benefit Plans Components

The annual net periodic benefit cost/(credit) related to NRG's pension and other postretirement benefit plans include the following components:

			Year Ended December 31,
			Pension Benefits
(In millions)			2023						2022						2021
Service cost benefits earned			$	5					$	7					$	9
Interest cost on benefit obligation			50						41						27
Expected return on plan assets			(39)						(47)						(66)
Amortization of unrecognized net loss			6						3						1
Curtailment and special termination benefits (income)/expense			(1)						14						2
Net periodic benefit cost/(credit)			$	21					$	18					$	(27)

			Year Ended December 31,
			Other Postretirement Benefits
(In millions)			2023						2022						2021
Interest cost on benefit obligation			$	4					$	2					$	2
Amortization of unrecognized prior service cost			(8)						(8)						(10)
Amortization of unrecognized net loss			1						2						1
Curtailment expense			—						—						1
Net periodic benefit credit			$	(3)					$	(4)					$	(6)

Schedule of Comparison of Pension Benefit obligation, Other Postretirement Benefit Obligations and Related Plan Assets on a Combined Basis

A comparison of the pension benefit obligation, other postretirement benefit obligations and related plan assets for NRG's plans on a combined basis is as follows:

			As of December 31,
			Pension Benefits												Other Postretirement Benefits
(In millions)			2023						2022						2023						2022
Benefit obligation at January 1			$	1,036					$	1,452					$	84					$	105
Service cost			5						7						—						—
Interest cost			50						41						4						2
Actuarial loss/(gain)			22						(289)						(5)						(11)
Employee and retiree contributions			—						—						4						3
Curtailment and special termination benefit loss			(2)						—						(1)						—
Benefit payments			(89)						(171)						(11)						(15)
Foreign exchange translation			1						(4)						—						—
Benefit obligation at December 31			1,023						1,036						75						84
Fair value of plan assets at January 1			844						1,336						—						—
Actual return on plan assets			93						(317)						—						—
Employee and retiree contributions			—						—						4						3
Employer contributions			2						—						7						12
Benefit payments			(89)						(171)						(11)						(15)
Foreign exchange translation			1						(4)						—						—
Fair value of plan assets at December 31			851						844						—						—
Funded status at December 31 — excess of obligation over assets			$	(172)					$	(192)					$	(75)					$	(84)

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in NRG's balance sheets were as follows:

			As of December 31,
			Pension Benefits												Other Postretirement Benefits
(In millions)			2023						2022						2023						2022
Other current liabilities			$	—					$	—					$	5					$	7
Other non-current liabilities			172						192						70						77

Schedule of Amounts Recognized in OCI Not Yet Recognized as Components of Net Periodic Benefit Costs

Amounts recognized in NRG's accumulated OCI that have not yet been recognized as components of net periodic benefit cost were as follows:

			As of December 31,
			Pension Benefits												Other Postretirement Benefits
(In millions)			2023						2022						2023						2022
Net loss/(gain)			$	73					$	110					$	(14)					$	(7)
Prior service cost/(credit)			—						1						(4)						(12)
Total accumulated OCI			$	73					$	111					$	(18)					$	(19)

Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income

Other changes in plan assets and benefit obligations recognized in OCI were as follows:

			Year Ended December 31,
			Pension Benefits												Other Postretirement Benefits
(In millions)			2023						2022						2023						2022
Net actuarial (gain)/loss			$	(31)					$	74					$	(5)					$	(11)
Amortization of net actuarial loss			(6)						(3)						(1)						(2)
Amortization of prior service cost			—						—						8						8
Effect of settlement/curtailment			(1)						(14)						(1)						—
Total recognized in OCI			$	(38)					$	57					$	1					$	(5)
Net periodic benefit cost/(credit)			21						18						(3)						(4)
Net recognized in net periodic pension (credit)/cost and OCI			$	(17)					$	75					$	(2)					$	(9)

Schedule of Benefit Obligations Significant Components

The following table presents the balances of significant components of NRG's pension plan:

			As of December 31,
			Pension Benefits
(In millions)			2023						2022
Projected benefit obligation			$	1,023					$	1,036
Accumulated benefit obligation			1,015						1,022
Fair value of plan assets			851						844

Schedule of Fair Value of Pension Plan Assets by Asset Category and Level within the Fair Value Hierarchy

NRG's market-related value of its plan assets is the fair value of the assets. The fair values of the Company's pension plan assets by asset category and their level within the fair value hierarchy are as follows:

			Fair Value Measurements as of December 31, 2023
(In millions)			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Observable Inputs (Level 2)						Total
Common/collective trust investment — U.S. equity			$	—					$	156					$	156
Common/collective trust investment — non-U.S. equity			—						58						58
Common/collective trust investment — non-core assets			—						81						81
Common/collective trust investment — fixed income			—						188						188
Short-term investment fund			19						—						19
Subtotal fair value			$	19					$	483					$	502
Measured at net asset value practical expedient:
Common/collective trust investment — non-U.S. equity															32
Common/collective trust investment — fixed income															243
Common/collective trust investment — non-core assets															47
Partnerships/joint ventures															27
Total fair value															$	851

			Fair Value Measurements as of December 31, 2022
(In millions)			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Observable Inputs (Level 2)						Total
Common/collective trust investment — U.S. equity			$	—					$	155					$	155
Common/collective trust investment — non-U.S. equity			—						65						65
Common/collective trust investment — non-core assets			—						90						90
Common/collective trust investment — fixed income			—						181						181
Short-term investment fund			22						—						22
Subtotal fair value			$	22					$	491					$	513
Measured at net asset value practical expedient:
Common/collective trust investment — non-U.S. equity															33
Common/collective trust investment — fixed income															220
Common/collective trust investment — non-core assets															55
Partnerships/joint ventures															23
Total fair value															$	844

Schedule of Assumptions Used to Calculate Benefit Expense

The following table presents the significant assumptions used to calculate NRG's benefit obligations:

			As of December 31,
			Pension Benefits												Other Postretirement Benefits
Weighted-Average Assumptions			2023						2022						2023						2022
Discount rate			4.97		%				5.18		%				4.96		%				5.19		%
Interest crediting rate			5.67		%				5.21		%				4.66		%				4.00		%
Rate of compensation increase			3.06		%				3.06		%				—						—
Health care trend rate			—						—						7.7% grading to 4.5% in 2033						7% grading to 4.4% in 2031

The following table presents the significant assumptions used to calculate NRG's benefit expense:

			As of December 31,
			Pension Benefits																		Other Postretirement Benefits
Weighted-Average Assumptions			2023						2022						2021						2023						2022						2021
Discount rate			5.18		%				2.89%/4.71%/5.41%						2.55		%				5.19		%				2.82		%				2.81		%
Interest crediting rate			5.21		%				3.07		%				3.13		%				4.00		%				1.94		%				1.62		%
Expected return on plan assets			5.55		%				4.99		%				5.62		%				—						—						—
Rate of compensation increase			3.06		%				3.06		%				3.06		%				—						—						—
Health care trend rate			—						—						—						7.2% grading to 4.5% in 2028						6.9% grading to 4.4% in 2028						7.0% grading to 4.4% in 2028

Schedule of Target Allocation of Pension Plan Assets

The target allocations of NRG's pension plan assets were as follows for the year ended December 31, 2023:

U.S. equity			19		%
Non-U.S. equity			12		%
Non-core assets			17		%
Fixed Income			52		%

Schedule of Performance Benchmarks

Performance benchmarks are composed of the following indices:

Asset Class						Index
U.S. equities						Dow Jones U.S. Total Stock Market Index
Non-U.S. equities						MSCI All Country World Index
Non-core assets(a)						Various (per underlying asset class)
Fixed income securities						Barclays Short, Intermediate and Long Credits/Barclays Strips 20+ Index and FTSE Canada Universe Bond Index

(a)Non-Core Assets are defined as diversifying asset classes approved by the Investment Committee that are intended to enhance returns and/or reduce volatility of the U.S. and non-U.S. equities. Asset classes considered Non-Core include, but may not be limited to: Emerging Market Equity, Emerging Market Debt, Non-US Developed Market Small Cap, High Yield Fixed Income, Real Estate, Bank Loans, Global Infrastructure and other Alternatives

Schedule of Expected Benefit Payments

NRG's expected future benefit payments for each of the next five years, and in the aggregate for the five years thereafter, are as follows:

			Pension						Other Postretirement Benefit
(In millions)			Benefit Payments						Benefit Payments						Medicare Prescription Drug Reimbursements
2024			$	82					$	5					$	—
2025			81						5						—
2026			79						5						—
2027			78						5						—
2028			76						5						—
2029-2033			360						27						2

Schedule of Benefit Costs and Other Changes Recognized in the Financial Statements Related to its Interest in STP

The Company recognized the following in its statement of financial position, statement of operations and accumulated OCI related to its former 44% interest in STP:

									As of December 31,
									Pension Benefits												Other Postretirement Benefits
(In millions)									2022												2022
Funded status — STPNOC benefit plans									$	(7)											$	(13)
Net periodic benefit cost/(credit)									2												(4)
Other changes in plan assets and benefit obligations recognized in other comprehensive income									(27)												1

Defined Contribution Plan Contributions

The Company's costs related to these plans were as follows:

			Year Ended December 31,
(In millions)			2023						2022						2021
Cost recognized for defined contribution plans			$	61					$	37					$	35

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