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NRG Energy, Inc. is a wholesale power generation company, primarily engaged in the ownership and operation of power generation facilities and the sale of energy, capacity and related products in the United States and internationally. The Company has a diverse portfolio of electric generation facilities in terms of geography, fuel type and dispatch levels. It seeks to maximize operating income through the efficient procurement and management of fuel supplies and maintenance services, and the sale of energy, capacity and ancillary services into attractive spot, intermediate and long-term markets. On May 14, 2003, the Company and 25 of its direct and indirect wholly owned subsidiaries commenced voluntary petitions under Chapter 11 of the bankruptcy code in the United States Bankruptcy Court for the Southern District of New York (the Court). On November 24, 2003, the Court entered an order confirming the Company's plan of reorganization. The plan became effective on December 5, 2003.
For the nine months ended 9/30/04, revenues rose 18% to $1.78 billion. Net income from continuing operations totaled $144.2 million vs. a loss of $966.2 million. Results reflect higher gas and power prices, increased sales from North American operations and improved margins.