Energy generation company NRG Energy Inc. (NRG) announced that its subsidiary Reliant Energy is working toward a cost effective way of lowering green house gas emission by introducing the Reliant EcoShareSM program.
The Reliant EcoShareSM program involves the purchase of carbon offsets as well as support to EarthShare of Texas. EarthShare of Texas is a non-profit foundation that provides funds to different local and state-wide environmental organizations.
The carbon offset purchased by consumers will help to lower green house emission and Reliant Energy on its part will purchase and retire an equal amount of carbon offset which the consumers purchase.
The consumers who are willing to participate in the Reliant EcoShareSM drive can select from two pricing levels – Reliant EcoShareSM Sliver and Reliant EcoShareSM Gold. These two programs can be combined with any other existing program of the company.
The first plan comes with a flat monthly price of $3.95, a donation of $1 per month to EarthShare of Texas and a resultant purchase of 500 pounds of carbon offset while the second plan comes with a flat monthly price of $5.95, a donation of $2 per month to EarthShare of Texas and the purchase of 1,000 pounds of carbon offset.
NRG Energy is also working on new technology that would ensure effective usage of energy. The company joined hands with General Electric Co. (GE) and ConocoPhillips (COP) to form Energy Technology Ventures. The venture will work toward developing technology in renewable power generation and emission controls among other things.
NRG Energy currently retains a Zacks #3 Rank (short-term Hold rating).
Based in Princeton, New Jersey, NRG Energy Inc. operates as a wholesale power generation company. The company is also involved in trade of fuel and transportation services, and trade of energy, capacity, and related products in the United States and internationally.
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