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Changes in Capital Structure (Tables)
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Changes in NRG's Preferred Stock and Commons Shares Issued and Outstanding The following table reflects the changes in NRG's preferred and common stock issued and outstanding:
PreferredCommon
Issued and OutstandingIssuedTreasuryOutstanding
Balance as of December 31, 2024650,000 205,064,058 (6,460,055)198,604,003 
Shares issued under LTIPs— 1,068,158 — 1,068,158 
Shares repurchased — — (3,210,036)(3,210,036)
Retirement of treasury stock— (3,070,996)3,070,996 — 
Balance as of March 31, 2025650,000 203,061,220 (6,599,095)196,462,125 
Shares issued under LTIPs— 321,771 — 321,771 
Shares issued under ESPP— — 81,903 81,903 
Shares repurchased— — (1,355,371)(1,355,371)
Retirement of treasury stock— (1,408,580)1,408,580 — 
Balance as of April 30, 2025
650,000 201,974,411 (6,463,983)195,510,428 
Share Repurchases The following table summarizes the share repurchases made under the $3.7 billion authorization through April 30, 2025:
Total number of shares purchasedAverage price paid per shareAmounts paid for shares purchased (in millions)
2023 Repurchases:
Open market repurchases
5,054,798 $39.56 $200 
Repurchases made under the accelerated share repurchase agreements17,676,142 (a)950 
Total Share Repurchases during 202322,730,940 1,150 (b)
2024 Repurchases:
Repurchases made under the accelerated share repurchase agreements1,163,230 (a)— 
Open market repurchases
10,562,333 $87.57 925 
Total Share Repurchases during 202411,725,563 $925 (c)
2025 Repurchases:
Open market repurchases(d)
3,210,036 $99.52 320 (e)
Total Share Repurchases during the three months ended March 31, 20253,210,036 $320 
Open market repurchases April 1, 2025 through April 30, 2025
1,355,371 $92.77 125 
Total Share Repurchases under the $3.7 billion authorization
39,021,910 $64.58 $2,520 
(a)Under the November 6, 2023 ASR, the Company received a total of 18,839,372 shares for an average price per share of $50.43, excluding the impact of the excise tax incurred. See discussion below for further information of the ASR agreements
(b)Excludes $10 million of excise tax accrued in 2023 which was paid in 2024
(c)Excludes $9 million accrued for estimated excise tax for the year ended December 31, 2024
(d)Includes $6 million accrued as of March 31, 2025
(e)Excludes $2 million accrued for estimated excise tax for the three months ended March 31, 2025
Schedule of Retirement of Treasury Stock The Company's accounting policy upon the formal retirement of treasury stock is to deduct its par value from common stock and to reflect any excess of cost over par value as a deduction from additional paid-in-capital.
Total number of treasury shares retiredAverage price per shareCarrying value of treasury shares retired (in millions)
Shares retired during the first quarter of 20253,070,996 $58.23 $179 
Shares retired during the first quarter of 20241,163,230 $32.67 $38