UPDATE 1-NRG invests $10 mln in Texas car-charging network

* NRG to offer car-charging service at fixed monthly rate

* NRG eVgo network rollout to start in Houston in 2011

HOUSTON, Nov 18 (BestGrowthStock) – NRG Energy (NRG.N: ) plans to
invest $10 million to build a comprehensive charging system in
Houston for electric vehicles next year, NRG Chief Executive
David Crane said on Thursday.

Crane said the debut of new electric vehicle models in the
next year made the time right to launch NRG’s branded “eVgo”
network to help “close the decision gap” for buyers debating
the purchase of an electric vehicle (EV) versus a conventional
gasoline-fueled car.

The network will offer Houston-area EV owners access to
home charging and fast-charging public stations located at
major retailers, employers and along highways for fixed charges
ranging from $49 to $89 per month for the first three years.

“It’s all about convenience,” Crane said.

NRG plans to expand the network in other major Texas cities
and across the United States as electric vehicle use grows.

“One of the huge advantages the electric vehicle has over
other alternative energy vehicles — such as hydrogen or
compressed natural gas — is that the infrastructure for
electric-car fueling already exists.” Crane said. “It’s called
the home electric system.”

“The service station of the future is your garage and all
we need to do to extend that to the transportation system is
the last three feet of extension cord in your garage,” Crane
said.

NRG, which is the second-largest power generator in Texas
and one of the largest electric retailers in the state’s
deregulated market, has agreements to work with automakers
Nissan NorthAmerica (7201.T: ) and Aptera. It’s also working with
retailers like Best Buy Co Inc, Walgreens and others to site
its public charging stations, Crane said.

NRG will also work with competing Texas electric retailers,
including TXU Energy and Centrica’s Direct Energy, as it rolls
out the car-charging network, Crane said.

Transportation accounts for one-quarter of America’s
greenhouse gas emissions and 40 percent of Houston’s nitrogen
oxides emissions, NRG said

Using EVs “fueled” by Texas’ mix of nuclear, wind, coal and
natural gas-fired generation will help reduce emissions from
gas-powered vehicles, NRG said.

Texas’ wind energy resource, which tends to produce more
electricity at night, is viewed as a good match to supply the
equipment used to charge EV batteries overnight.

(Reporting by Eileen O’Grady; Editing by David Gregorio)

UPDATE 1-NRG invests $10 mln in Texas car-charging network