Cramer Gets a Charge Out of NRG
NRG Energy is rolling out an electric-vehicle charging station ecosystem in the heart of crude country—Houston, Texas. Will this be the catalyst that drives the stock higher?
Cramer had recommended NRG back in February 2009 as a play on nuclear energy’s renaissance, but that seems to have stalled out and the stock is down 11 percent. This electric car play, though, could well be a big boost for this company.
NRG’s a diversified power-generation utility that does most of its business in Texas, New York, California and Louisiana. The company deals in everything from coal to nukes to natural gas, and even some solar and wind power. But it’s the charging stations that have Cramer excited.
NRG plans to install 50 of them across Houston by mid-2011. Plus, consumers who want home charging stations can pay just $49 a month for the privilege—the latter number being about the price of a tank of gas, depending on what kind of car you drive.
Cramer likened NRG to Clean Energy Fuels, which operates natural-gas fueling stations across the U.S. But it looks like this country is headed more toward NRG’s battery-powered car business. So is this stock a buy? Watch the video for Cramer’s interview with CEO David Cramer to find out.
Correction: A previous version of this story incorrectly stated that consumers wanting a home charging station paid an initial fee of $2,000 for it. That fee, in fact, is covered by NRG's eVgo.
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