RRI said the sale of the retail business to NRG eliminated $2 billion of current collateral obligations. Under the terms of the transaction, the Reliant Energy name was transferred to NRG.

RRI is now a pure play wholesale generator with more than 14,000 megawatts of power generation assets, according to Mark Jacobs, president and chief executive officer of RRI.

"As a well-capitalized pure play merchant generator, we will be well positioned to manage through an uncertain economic climate and