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Exhibit 99.12
[NRG LOGO]
NEWS
RELEASE
FOR IMMEDIATE RELEASE
NRG Energy Raises 3rd Quarter Earnings Estimate to 45 Cents Per Share
MINNEAPOLIS (SEPTEMBER 25, 2000) -- NRG Energy, Inc (NYSE: NRG) today announced
that it expected earnings for the third quarter to be approximately 45 cents per
share, five cents above the First Call consensus estimate of 40 cents per share.
The revised expectation results primarily from the ability of NRG's
generating facilities to satisfy the increased, weather-related demand for
electricity in various regions of the U.S., particularly in the West.
"The availability of our generating facilities to meet customer demand over
the summer months has resulted in income and cash flow that exceed our earlier
expectations," said David H. Peterson, chairman, president and CEO. "Atypically
warm weather in the West has been the driving factor, partially offset by cooler
than normal weather in the Northeast."
NRG also expects calendar year 2000 earnings per share to exceed the First
Call consensus estimate of 95 cents by five cents per share, resulting in a
$1.00 per share estimate for the year. NRG will announce its third quarter
earnings on Tuesday, October 24, 2000 after the close of the New York Stock
Exchange.
NRG Energy is a leading global energy company primarily engaged in the
acquisition, development, construction, ownership and operation of power
generation facilities. NRG owns all or a portion of 63 power generation projects
and its net ownership interest in these projects exceeds 16,000 MW. NRG Energy's
operations utilize such diverse fuel sources as natural gas, oil, coal and coal
seam methane, biomass, landfill gas, and hydro, as well as refuse-derived fuel.
Certain information included in this news release contains statements that
are forward-looking. Such forward-looking information involves risks and
uncertainties that could significantly affect anticipated results in the future
and, accordingly, such results may differ from those expressed in any
forward-looking statements made by or on behalf of NRG Energy. For more
information regarding these risks and uncertainties, review NRG Energy's filings
with the Securities and Exchange Commission.
More information on NRG Energy is available at www.nrgenergy.com.
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Contacts: Meredith Moore
NRG Energy, Inc. Media Relations
612.373.8892
[email protected]
Dan Dokken
NRG Energy, Inc., Investor Relations
612.373.5336
[email protected]
