Welcome to our dedicated page for Vistra news (Ticker: VST), a resource for investors and traders seeking the latest updates and insights on Vistra stock.
Vistra Corp. (NYSE: VST) is a leading integrated retail electricity and power generation company based in Irving, Texas. With operations spanning 20 states and the District of Columbia, Vistra is committed to providing reliable and affordable energy solutions to approximately 5 million customers, including nearly a third of all Texas electricity consumers.
Vistra's diverse generation portfolio is robust, including nearly 41 gigawatts of nuclear, coal, natural gas, and solar power, supported by one of the largest utility-scale battery projects in the world. The company's power generation assets in Texas alone comprise about 18,000 MW, with a mix of nuclear, coal, and natural gas facilities, as well as significant renewable energy purchases from wind and solar sources.
Recent significant developments include the acquisition of Energy Harbor, which was finalized in March 2024 after receiving the last regulatory approval from the Federal Energy Regulatory Commission (FERC). This acquisition expanded Vistra's zero-carbon generation portfolio by adding over 4,000 MW of nuclear power and approximately 1 million additional retail customers.
Financially, Vistra demonstrates strong performance and stability, with positive cash flows and strategic growth initiatives. The company reported a net income of $1,492 million for the full year 2023, significantly improving over the previous year. Vistra's hedging strategies and comprehensive approach to risk management underscore its ability to navigate market uncertainties and deliver consistent financial results.
Vistra is also at the forefront of energy transformation, with ongoing investments in solar and battery storage projects. In 2024, Vistra announced plans to add up to 2,000 MW of natural gas power capacity in Texas, aimed at bolstering grid reliability amidst increasing power demand driven by economic growth and electrification in various sectors.
The company’s retail arm, TXU Energy, is the #1 electricity choice in Texas, providing innovative plans like TXU Energy Free EV Miles℠, supporting the transition to electric vehicles by offering free home EV charging backed by 100% renewable sources.
Vistra's commitment to operational excellence, customer-centric solutions, and sustainable energy practices makes it a pivotal player in the US energy sector. With a vision for future growth and a strong foundation built on over a century of expertise, Vistra continues to drive forward the energy landscape.
On September 15, 2021, Illinois Governor J.B. Pritzker signed SB 2408, the Energy Transition Act, which aims for 100% clean energy in Illinois. Supported by Vistra (NYSE: VST), the act includes the Coal to Solar & Energy Storage initiative, allowing Vistra to develop up to 300 MW of solar and 150 MW of battery storage at retired coal sites. The project is expected to create over 2,200 jobs and generate $300 million for the state economy by 2025, with an investment exceeding $550 million. Vistra plans to significantly reduce its greenhouse gas emissions by 2027.
Vistra has completed Phase II of its Moss Landing Energy Storage Facility in California, expanding its capacity to 400 MW/1,600 MWh, making it the world's largest battery storage system. The 100 MW expansion addresses California's growing energy demands, particularly during summer peaks. Construction, which began in September 2020, finished ahead of schedule in July 2021. The project features technology from LG Energy Solution and operates under a 10-year agreement with Pacific Gas and Electric Company. Vistra plans to invest $5 billion in renewable energy and battery storage by 2030.
Vistra reported Q2 2021 net income of $35 million, with ongoing operations net income at $49 million. Adjusted EBITDA for ongoing operations was $825 million, reflecting adjustments for Winter Storm Uri, and was in line with expectations. The company reaffirmed its 2021 guidance for ongoing operations adjusted EBITDA between $1,475 million and $1,875 million. Additionally, Vistra's liquidity stood at approximately $2,337 million. The firm is implementing enhanced weatherization measures and plans to retire two coal plants by 2022.
Vistra (NYSE: VST) has launched TXU Business Surge Protect, designed to safeguard small businesses from surge damage. This plan offers reimbursement up to $10,000 for covered electronics without any deductible, enhancing Vistra's suite of customer-focused services. With unpredictable Texas weather, this tool aims to provide business owners peace of mind and control over potential storm-related costs. The plan is backed by Cinch Home Services, a provider with over 35 years of experience.
Vistra (NYSE: VST) has declared a quarterly dividend of $0.15 per share, equivalent to $0.60 annually. Shareholders of record as of September 16, 2021 will receive the dividend on September 30, 2021. The ex-dividend date is set for September 15, 2021. Vistra operates extensively, serving nearly 4.3 million customers in the U.S. and is the largest competitive power generator with approximately 39,000 megawatts of capacity. The company emphasizes sustainability and customer-oriented services in its operational approach.
TXU Energy has partnered with Papa John's Houston to launch the Slice of Solar campaign, offering four winners a year of free solar energy. Customers who order pizza in August will be automatically entered into the sweepstakes. The winners will receive the TXU Energy Free Nights & Solar Days plan, which provides 100% solar energy and free electricity every night. This initiative builds on a long-standing collaboration aimed at promoting sustainability. TXU Energy, a subsidiary of Vistra (NYSE: VST), is committed to renewable energy solutions and customer-centric services.
Vistra announces the early closure of the Zimmer Power Plant in Moscow, Ohio, set for May 31, 2022, three years ahead of schedule. This decision comes after the plant failed to secure capacity revenues in a recent auction, which cleared nearly 50% lower than the previous year. The CEO, Curt Morgan, highlighted ongoing economic struggles and the inability to operate profitably without auction revenues. Vistra plans to evaluate the site for future renewable energy investments while maintaining support for affected workers and the local community.
Vistra (NYSE: VST) will release its second quarter 2021 financial and operating results on August 5, 2021, at 8 a.m. ET. A live conference call and webcast will follow, accessible via the investor relations section of Vistra's website. Participants can join by registering in advance to obtain the call-in number. For those unable to attend, a replay will be available for one year post-event. Vistra is a major retail electricity and power generation company, serving approximately 4.3 million customers across 20 states and having a large capacity of 39,000 megawatts.
TXU Energy, based in Texas, has launched its 23rd annual Beat the Heat program to assist families struggling with high summer temperatures. The initiative includes the distribution of air conditioning units, fans, and summer energy conservation tips. With a contribution of $75,000, TXU Energy supports 10 social service organizations that aid those in need. The program offers substantial bill-payment assistance through government and TXU Energy Aid programs, helping Texans manage their electricity bills amid increased financial hardships.
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