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Benefit Plans and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Net Benefit Cost (Credit) Related to Pension and Other Postretirement Benefit Plans Components
The annual net periodic benefit cost/(credit) related to NRG's pension and other postretirement benefit plans include the following components:
 Year Ended December 31,
 Pension Benefits
 (In millions)202220212020
Service cost benefits earned$7 $9 $10 
Interest cost on benefit obligation41 27 38 
Expected return on plan assets(47)(66)(61)
Amortization of unrecognized net loss3 1 5 
Settlement/curtailment expense14 2 — 
Net periodic benefit cost/(credit)$18 $(27)$(8)
 Year Ended December 31,
 Other Postretirement Benefits
(In millions)202220212020
Interest cost on benefit obligation$2 $2 $3 
Amortization of unrecognized prior service cost(8)(10)(14)
Amortization of unrecognized net loss2 1 1 
Curtailment loss— 1 — 
Net periodic benefit credit$(4)$(6)$(10)
Schedule of Comparison of Pension Benefit obligation, Other Postretirement Benefit Obligations and Related Plan Assets on a Combined Basis
A comparison of the pension benefit obligation, other postretirement benefit obligations and related plan assets for NRG's plans on a combined basis is as follows:
 As of December 31,
 Pension BenefitsOther Postretirement
Benefits
(In millions)2022202120222021
Benefit obligation at January 1$1,452 $1,489 $105 $90 
Acquired benefit obligation from Direct Energy— 74 — 19 
Service cost7 9 — — 
Interest cost41 27 2 2 
Actuarial gain(289)(55)(11)— 
Employee and retiree contributions— — 3 3 
Curtailment loss— — — 1 
Benefit payments(171)(93)(15)(10)
Foreign exchange translation(4)1 — — 
Benefit obligation at December 311,036 1,452 84 105 
Fair value of plan assets at January 11,336 1,272 — — 
Acquired fair value of plan assets from Direct Energy— 64 — — 
Actual return on plan assets(317)85 — — 
Employee and retiree contributions— — 3 3 
Employer contributions— 7 12 7 
Benefit payments(171)(93)(15)(10)
Foreign exchange translation(4)1 — — 
Fair value of plan assets at December 31844 1,336 — — 
Funded status at December 31 — excess of obligation over assets
$(192)$(116)$(84)$(105)
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized in NRG's balance sheets were as follows:
 As of December 31,
 Pension Benefits
Other Postretirement
Benefits
(In millions)2022202120222021
Other current liabilities$— $— $7 $7 
Other non-current liabilities192 116 77 98 
Schedule of Amounts Recognized in OCI Not Yet Recognized as Components of Net Periodic Benefit Costs Amounts recognized in NRG's accumulated OCI that have not yet been recognized as components of net periodic benefit cost were as follows:
 As of December 31,
 Pension Benefits
Other Postretirement
Benefits
(In millions)2022202120222021
Net loss/(gain)$110 $52 $(7)$5 
Prior service cost/(credit)1 2 (12)(19)
Total accumulated OCI$111 $54 $(19)$(14)
Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Other changes in plan assets and benefit obligations recognized in OCI were as follows:
 Year Ended December 31,
 Pension Benefits
Other Postretirement
Benefits
(In millions)2022202120222021
Net actuarial loss/(gain)$74 $(72)$(11)$— 
Amortization of net actuarial loss(3)(1)(2)(1)
Amortization of prior service cost— — 8 10 
Effect of settlement/curtailment(14)(2)— — 
Total recognized in OCI$57 $(75)$(5)$9 
Net periodic benefit cost/(credit)
18 (27)(4)(6)
Net recognized in net periodic pension cost/(credit) and OCI
$75 $(102)$(9)$3 
Schedule of Benefit Obligations Significant Components
The following table presents the balances of significant components of NRG's pension plan:
 As of December 31,
 Pension Benefits
(In millions)20222021
Projected benefit obligation$1,036 $1,452 
Accumulated benefit obligation1,022 1,423 
Fair value of plan assets844 1,336 
Schedule of Fair Value of Pension Plan Assets by Asset Category and Level within the Fair Value Hierarchy
NRG's market-related value of its plan assets is the fair value of the assets. The fair values of the Company's pension plan assets by asset category and their level within the fair value hierarchy are as follows:
 Fair Value Measurements as of December 31, 2022
(In millions)
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Observable Inputs
(Level 2)
Total
Common/collective trust investment — U.S. equity$— $155 $155 
Common/collective trust investment — non-U.S. equity— 65 65 
Common/collective trust investment — non-core assets— 90 90 
Common/collective trust investment — fixed income— 181 181 
Short-term investment fund22 — 22 
Subtotal fair value$22 $491 $513 
Measured at net asset value practical expedient:
Common/collective trust investment — non-U.S. equity33 
Common/collective trust investment — fixed income220 
Common/collective trust investment — non-core assets55 
Partnerships/joint ventures23 
Total fair value$844 
 Fair Value Measurements as of December 31, 2021
(In millions)
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Observable Inputs
(Level 2)
Total
Common/collective trust investment — U.S. equity$— $221 $221 
Common/collective trust investment — non-U.S. equity— 69 69 
Common/collective trust investment — non-core assets— 110 110 
Common/collective trust investment — fixed income— 340 340 
Short-term investment fund13 — 13 
Subtotal fair value$13 $740 $753 
Measured at net asset value practical expedient:
Common/collective trust investment — non-U.S. equity78 
Common/collective trust investment — fixed income405 
Common/collective trust investment — non-core assets65 
Partnerships/joint ventures35 
Total fair value$1,336 
Schedule of Assumptions Used to Calculate Benefit Expense
The following table presents the significant assumptions used to calculate NRG's benefit obligations:
 As of December 31,
 Pension BenefitsOther Postretirement Benefits
Weighted-Average Assumptions2022202120222021
Discount rate5.18 %2.89 %5.19 %2.89 %
Interest crediting rate5.21 %3.07 %4.00 %1.94 %
Rate of compensation increase3.06 %3.06 %— %— %
Health care trend rate— — 
 7.0% grading to 4.4% in 2031
6.8% grading to 4.4% in 2028
The following table presents the significant assumptions used to calculate NRG's benefit expense:
 As of December 31,
 Pension BenefitsOther Postretirement Benefits
Weighted-Average Assumptions202220212020202220212020
Discount rate
2.89%/4.71%/5.41%
2.55 %3.26 %2.82 %2.81 %3.26 %
Interest crediting rate3.07 %3.13 %3.66 %1.94 %1.62 %2.28 %
Expected return on plan assets
4.99 %5.62 %5.93 %— — — 
Rate of compensation increase
3.06 %3.06 %3.00 %— — — 
Health care trend rate— — — 
 6.9% grading to 4.4% in 2028
 7.0% grading to 4.4% in 2028
7.5% grading to 4.5% in 2028
Schedule of Target Allocation of Pension Plan Assets
The target allocations of NRG's pension plan assets were as follows for the year ended December 31, 2022:
U.S. equity21 %
Non-U.S. equity14 %
Non-core assets18 %
Fixed Income47 %
Schedule of Performance Benchmarks Performance benchmarks are composed of the following indices:
Asset ClassIndex
U.S. equitiesDow Jones U.S. Total Stock Market Index
Non-U.S. equities
MSCI All Country World Index
Non-core assets(a)
Various (per underlying asset class)
Fixed income securities
Barclays Short, Intermediate and Long Credits/Barclays Strips 20+ Index and FTSE Canada Universe Bond Index
(a)Non-Core Assets are defined as diversifying asset classes approved by the Investment Committee that are intended to enhance returns and/or reduce volatility of the U.S. and non-U.S. equities. Asset classes considered Non-Core include, but may not be limited to: Emerging Market Equity, Emerging Market Debt, Non-US Developed Market Small Cap, High Yield Fixed Income, Real Estate, Bank Loans, Global Infrastructure and other Alternatives.
Schedule of Expected Benefit Payments
NRG's expected future benefit payments for each of the next five years, and in the aggregate for the five years thereafter, are as follows:
 PensionOther Postretirement Benefit
 (In millions)Benefit PaymentsBenefit PaymentsMedicare Prescription Drug Reimbursements
2023$83 $7 $— 
202481 7 — 
202579 6 — 
202677 6 — 
202776 6 — 
2028-2032361 27 2 
Schedule of Benefit Costs and Other Changes Recognized in the Financial Statements Related to its Interest in STP
The Company has recognized the following in its statement of financial position, statement of operations and accumulated OCI related to its 44% interest in STP:
 As of December 31,
 Pension BenefitsOther Postretirement Benefits
(In millions)2022202120222021
Funded status — STPNOC benefit plans$(7)$(50)$(13)$(18)
Net periodic benefit cost/(credit)2 17 (4)(4)
Other changes in plan assets and benefit obligations recognized in other comprehensive income
(27)(51)1 4 
Defined Contribution Plan Contributions
The Company's contributions to these plans were as follows:
 Year Ended December 31,
(In millions)202220212020
Company contributions to defined contribution plans$26 $25 $22