GenOn
GenOn is a private Houston-based independent power producer operating approximately 1,765 MW of natural gas and oil-fired generation across PJM and CAISO wholesale markets, selling electricity to grid operators and utilities in the Northeast, Mid-Atlantic, and California.
- Company typePrivate
- Founded2010
- HeadquartersHouston, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What GenOn does
GenOn is a Houston-based private independent power producer that generates and sells electricity to wholesale customers primarily in the Northeast, Mid-Atlantic, and California markets. The company operates a fleet of approximately 1,765 MW of generation capacity across three primary sites: the 1,491 MW Ormond Beach natural gas plant and the 54 MW Ellwood natural gas plant, both in the CAISO market, and the 220 MW Morgantown oil-fired plant in the PJM market. GenOn's product is wholesale electricity delivered into two regulated ISO markets, with off-take consisting of grid operators, utilities, and energy providers rather than retail consumers. According to the company, the fleet has the capacity to provide power to over 5 million homes, and the firm describes itself as one of the largest independent power producers in the nation.
The underlying technology is conventional thermal power generation using natural gas, oil, and dual-fuel combustion turbines and steam plants, interconnected into PJM Interconnection and CAISO wholesale markets. GenOn does not operate a software or platform product; its competitive positioning rests on physical generation assets, fuel flexibility, and established market access. The company is pursuing a strategic repositioning of its Morgantown asset through a March 2026 agreement to sell the plant to TeraWulf, which plans to convert it to gas-fired generation with battery storage to serve data center load, with first phase potentially online in late 2028.
GenOn's business model is wholesale electricity generation sold into organized ISO markets under standard market rules, with revenue driven by energy sales, capacity payments, and ancillary services. Pricing is not publicly disclosed. The company emerged from Chapter 11 bankruptcy proceedings initiated in June 2017 and completed in October 2018 through a Restructuring Support Agreement, with GenOn Holdings, Inc. established as the parent entity and GenOn Energy, Inc. as a subsidiary. Financial information access is restricted to existing and prospective debt and equity investors, securities analysts, and market makers, consistent with a concentrated, post-restructuring private ownership structure.
GenOn firmographics
Firmographics- Name
- GenOn
- Legal name
- GenOn Energy, Inc.
- Website
- https://genon.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- GenOn is a private Houston-based independent power producer operating approximately 1,765 MW of natural gas and oil-fired generation across PJM and CAISO wholesale markets, selling electricity to grid operators and utilities in the Northeast, Mid-Atlantic, and California.
- Ownership category
- akta.pro rank
GenOn industry classification
Industry- Product category
- Wholesale Power Generation
- NAICS
- Fossil Fuel Electric Power Generation (221112)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)
- akta.pro secondary industry
- Dual-Fuel Oil & Gas Power Generation (Diesel/HFO + Natural Gas Backup) (EUACACAE)
Keywords
Where GenOn is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
GenOn business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Infrastructure, Personnel, Others
Distribution channels1 record
Marketing channels1 record
GenOn product offering
Product offeringCore offering
GenOn operates a fleet of natural gas, oil, and dual-fuel power plants with approximately 1,765 MW of generation capacity across California (Ormond Beach and Ellwood) and Maryland (Morgantown). The company generates and sells electricity to wholesale customers — including grid operators, utilities, and energy providers — primarily in the Northeast and Mid-Atlantic US markets, with the capacity to power over 5 million homes.
Product overview
GenOn is an independent power producer that operates a fleet of natural gas, oil, and dual-fuel power plants. The company generates electricity and sells it to wholesale customers primarily in the Northeast and Mid-Atlantic markets. As a power generation company rather than a software company, GenOn does not operate a platform-plus-modules architecture but rather a portfolio of generation assets organized by market and fuel type.
Differentiator
Problem solved
Functional benefit
Products and services
- Electricity Generation and Sales
Companies that use GenOn
Customer profileSegments1 record
Ideal customer profiles1 record
GenOn technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
GenOn partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- TeraWulfcoreTeraWulf is acquiring GenOn's 216-MW Morgantown power plant in Maryland for use as a power source for data center operations. The transaction involves the sale of four oil-fired generating units from PJM's market. TeraWulf plans to convert the facility to gas-fired generation with battery storage for data center power needs, with first phase potentially online in late 2028.
Scale indicators4 records
Recent moves5 records
Expansion highlights4 records
GenOn competitors and assessment
Company assessmentDirect peers
- Tenaska: Tenaska is a privately held energy company that develops, owns, and operates natural-gas-fired power generation projects in the US, with merchant exposure across multiple regions. Comparable mid-sized private IPP profile.
- Vistra Corp: Vistra is a large publicly traded IPP with a diversified gas, coal, nuclear, and solar generation fleet operating across multiple US wholesale markets including CAISO and PJM. Comparable to GenOn in merchant wholesale power sales and multi-market positioning.
- Talen Energy Corporation: Talen is a PJM-focused independent power producer with gas, nuclear, and coal assets in the Northeast and Mid-Atlantic. Direct geographic and fuel-mix overlap with GenOn's PJM (Maryland) operations.
- NRG Energy: NRG is a US power generation and retail electricity company with significant merchant and contracted generation in PJM, ERCOT, and other markets. Closely matches GenOn's wholesale-generation focus and PJM presence.
- Calpine Corporation: Calpine is the largest US natural-gas-fired IPP, operating ~26 GW of generation predominantly in California, Texas, and the Northeast. It directly overlaps with GenOn in PJM and CAISO merchant gas-fired generation and pursues a similar wholesale-power business model.
- LS Power: LS Power is a private developer, owner, and operator of power generation and transmission assets across the US, with significant merchant and contracted gas-fired generation in PJM, CAISO-adjacent markets, and elsewhere. Comparable as a privately held multi-region IPP.
Regional players
- DTE Energy: DTE Energy is a Michigan-based regulated utility with its own fossil and renewable generation fleet; it shares the wholesale fossil-generation business model and a similar Mid-Atlantic/Midwest regional footprint, though primarily vertically integrated.
Emerging players
- Invenergy: Invenergy is a privately held global developer and operator of renewable and natural gas generation with US merchant and contracted assets. Overlaps with GenOn in merchant wholesale power and is increasingly competing for data-center power offtake.
Broad incumbents
- Constellation Energy Corporation: Constellation is the largest US competitive power generator, with a broad fleet including nuclear, gas, hydro, and renewables across multiple ISOs. A larger, more diversified incumbent operating in many of the same wholesale markets as GenOn.
- AES Corporation: AES is a global power generation and utility company with US merchant generation in PJM and other markets alongside renewables development. Comparable as a larger diversified IPP/utility with overlapping PJM exposure.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
GenOn social profiles
Digital presenceGenOn financial estimates
Financial estimateRevenue estimate
Valuation estimate
GenOn leadership team
Management profileNumber of profiles
GenOn funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GenOn M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GenOn
What does GenOn do?
GenOn operates a fleet of natural gas, oil, and dual-fuel power plants with approximately 1,765 MW of generation capacity across California (Ormond Beach and Ellwood) and Maryland (Morgantown). The company generates and sells electricity to wholesale customers — including grid operators, utilities, and energy providers — primarily in the Northeast and Mid-Atlantic US markets, with the capacity to power over 5 million homes.
Is GenOn a public or private company?
GenOn is a private company. It is classified as unknown and is currently operating.
When was GenOn founded?
GenOn was founded in 2010. It employs 1,001 to 5,000 people.
Where is GenOn based?
GenOn is headquartered in Houston, United States, in the North America region.
Who are GenOn's main competitors?
Direct peers on record are Tenaska, Vistra Corp, Talen Energy Corporation, NRG Energy, Calpine Corporation and LS Power. DTE Energy is listed as a regional player. Invenergy is listed as an emerging player. Broad incumbents are Constellation Energy Corporation and AES Corporation.
Does GenOn have an API?
No public API is recorded for GenOn.
What industry is GenOn in?
GenOn's product category is Wholesale Power Generation. Its primary akta.pro industry code is EUACABAI, Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield), with a secondary code of EUACACAE, Dual-Fuel Oil & Gas Power Generation (Diesel/HFO + Natural Gas Backup). Its NAICS code is 221112 and its SIC code is 4911.