"NRG may be the most forward-thinking utility in America," Cramer said Tuesday.
Based in Princeton, N.J., NRG's power plants provide roughly 25,000 megawatts of capacity, which is enough to supply 20 million homes. The company does most of its business in California, Louisiana, New York and Texas. At first glance, NRG looks like a traditional energy company, especially since two-thirds of its generation comes from coal and nuclear power plants.
But at the same time, NRG is building a whole electric vehicle ecosystem in Houston. It has 533 megawatts of renewable generation under construction, which mostly comes from solar and wind. Another 1,000 megawatts is in advanced development. The company is also seeking a loan guarantee from the Department of Energy, so it can build two nuclear reactors in south Texas.
Lower hedge prices, increased fuel costs and weather-related power outages in Texas caused NRG to report disappointing quarterly results on Tuesday. Cramer thinks NRG has a brighter future, though. To be sure, he interviewed CEO David Crane. To see the full conversation, watch the video.
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