Illinois-based energy company NRG Energy took a $97 million loss in the second quarter.
The company said Thursday that the unusually mild summer weather impacted its bottom line.
Profits were down in all three of NRG’s regional power generation units.
Its retail units were also hit with a net loss of $112 million in the second quarter.
Although NRG’s revenues climbed by 24 percent to about $692 million, its operating costs jumped by 34 percent to $890 million.
“Never before in my 11 years at NRG do I recall a first half of the year where we were so whipsawed by the weather,” NRG CEO David Crane said in an analyst call Thursday.
NRG will be closing or converting its four Illinois coal-fired generating plants, the Chicago Tribune said Friday.
NRG will stop coal operations at its generating unit in Romeoville.
It will convert its Joliet plant to burn natural gas and upgrade its two other plants in Pekin and Waukegan to be in compliance with federal environmental regulations.
About 250 jobs are currently expected to be cut.
The stoppage and conversions are part of Crane’s plan to move NRG away from its coal operations and focus on rooftop solar and other forms of alternative energy.
Crane also said the company is planning a reorganization that would focus its efforts on three new divisions: NRG Home, NRG Business and NRG Renew.
NRG Home will include the company’s retail business and its residential solar company as well as other businesses that Crane didn’t fully elaborate on during the call.
NRG Business will hold the wholesale generation portfolio and services for commercial customers.
NRG Renew will focus on solar and other alternative energy efforts.
The company will also keep its carbon capture business, Petra Nova, and its electric car infrastructure business NRG eVgo.
