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.
Vistra announced the retirement of the Joppa Power Plant by Sept. 1, 2022, three years earlier than planned due to legal and economic pressures. This decision settles a complaint from the Sierra Club regarding environmental issues. Vistra aims to invest $550 million in repurposing coal sites into solar and energy storage facilities, significantly boosting the local economy with an estimated $1.7 billion in output and creating thousands of jobs. The company will also pay $1.1 million in property taxes to support the local community.
TXU Energy has launched its new EV Pass service in Texas, offering electric vehicle owners a 50% discount on energy charges during weeknights and weekends. This plan includes automatic bill credits for convenient charging times and utilizes 100% renewable energy. The company emphasizes its commitment to support green lifestyles while providing a price-protected rate throughout the year. TXU Energy aims to cater to the growing number of electric vehicles in Texas, reinforcing its position as a leader in innovative energy solutions.
Dynegy has secured a three-year partnership with Chicago's Metropolitan Pier and Exposition Authority (MPEA) to supply 100% renewable electricity to McCormick Place, North America's largest convention center. This agreement includes purchasing renewable energy credits to offset electricity usage, supporting McCormick Place’s sustainability initiatives such as energy-efficient lighting retrofits. Dynegy also powers notable Chicago landmarks including Willis Tower and Wrigley Field, reflecting its commitment to tailored energy solutions that balance sustainability and cost-effectiveness.
Vistra (NYSE: VST) reported 2020 net income of $624 million, with ongoing operations net income at $725 million. The company's adjusted EBITDA rose to $3,766 million, 11% above 2019, marking five consecutive years of exceeding guidance. Cash flow from operations was $3,337 million, and adjusted free cash flow before growth was $2,582 million. The Winter Storm Uri's impact is projected to cause a one-time financial hit of $900 million to $1.3 billion. Vistra continues its commitment to capital allocation and renewable energy investments.
On February 23, 2021, Vistra (NYSE: VST) announced an increase in its quarterly dividend to $0.15 per share, reflecting an 11% increase from 2020. This puts the annualized dividend at $0.60, exceeding the company's target growth rate of 6-8%. The dividend is payable on March 31, 2021, with a record date of March 17, 2021, and an ex-dividend date of March 16, 2021.
TXU Energy reassures its residential customers that they are protected from extreme fluctuations in wholesale electricity prices following recent market volatility in Texas. Customers will not experience near-term rate increases due to winter weather, although some may see higher bills from increased usage. TXU Energy clarifies that it does not offer risky wholesale plans that can lead to inflated bills. The company's commitment to customer support continues, providing price protection and flexibility during this challenging period.
Vistra (NYSE: VST) announced a $5 million commitment to support Texas communities affected by recent winter storms. The funding will assist social service agencies and provide bill-payment assistance to vulnerable customers. CEO Curt Morgan emphasized the need for quick support due to ongoing hardships, stating that the company aims to alleviate the impact on customers' electricity rates. Vistra assured residential customers that they will not face near-term rate increases as a result of the storm, despite some experiencing higher usage bills.
On February 17, 2021, Vistra (NYSE: VST) addressed the challenges posed by a historic winter storm in Texas. The company reported that only 1,000 of its nearly 19,000 megawatts capacity were offline, thanks to a comprehensive winter preparedness strategy. Vistra estimated it was generating 25-30% of the power on the Texas grid, amidst fuel supply challenges. The CEO emphasized the company's commitment to restoring electricity to affected Texans. Vistra remains dedicated to maximizing electricity production and ensuring service reliability during this crisis.
Vistra (NYSE: VST) will report its fourth quarter and full year 2020 financial results on February 26, 2021. The presentation will take place during a live conference call and webcast starting at 8 a.m. ET (7 a.m. CT). Interested participants can access the webcast via the investor relations section of Vistra's website. A replay of the event will be available for one year post-presentation. Vistra, based in Irving, Texas, is a leading integrated retail electricity and power generation company with a capacity of approximately 39,000 megawatts.
Vistra has successfully brought its Moss Landing Energy Storage Facility online as of December 11, 2020. This facility, located in Monterey County, California, features a capacity of 300 MW/1,200 MWh, making it the largest lithium-ion battery storage system globally. Construction of Phase II, adding an additional 100 MW/400 MWh, is expected to be completed by August 2021. The project aims to enhance grid stability, support California's sustainability goals, and provide affordable, emission-free electricity to approximately 225,000 homes.
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