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NRG Energy plummets 17% after Texas snowstorm wreaks havoc on its financials

March 17, 2021


NRG Energy led the S&P 500 lower on Wednesday, falling as much as 17% after the utility company said last month’s Texas snowstorm wreaked havoc on its financials.

NRG said it expects to record a $750 million loss related to the storm, and it withdrew its 2021 guidance as it sees additional uncertainties related to pending legislation and its potential impact on the company.

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