IRVING,
Texas, Feb. 28, 2023 /PRNewswire/ -- Vistra
(NYSE: VST) today reported its results from the PJM capacity
auction for 2024/2025 planning year: the company cleared a total of
6,905 megawatts (MW) at a weighted average clearing price of
$43.25 per megawatt-day, equating to
approximately $109 million in
capacity revenue for the 2024/2025 planning year. Including
Vistra's incremental revenue of approximately $11-15 million from existing retail and other
third-party bilateral sales above the capacity auction clearing
price, Vistra's total estimated revenues for the 2024/2025 planning
year as of Feb. 28, 2023 are
projected to be approximately $120-124 million.
The table below lists Vistra's cleared capacity and associated
clearing price for the 2024/2025 capacity auction by zone and
reporting segment.
Zone
|
|
Clearing Price per
MW-Day
|
|
East MWs
Cleared
|
|
Sunset MWs
Cleared
|
|
Total MWs
Cleared
|
|
|
|
|
|
|
|
|
|
RTO
|
|
$28.92
|
|
2,756
|
|
-
|
|
2,756
|
|
|
|
|
|
|
|
|
|
ComEd
|
|
$28.92
|
|
1,206
|
|
415
|
|
1,621
|
|
|
|
|
|
|
|
|
|
DEOK
|
|
$96.24
|
|
72
|
|
923
|
|
995
|
|
|
|
|
|
|
|
|
|
EMAAC
|
|
$54.95
|
|
833
|
|
-
|
|
833
|
|
|
|
|
|
|
|
|
|
MAAC
|
|
$49.49
|
|
541
|
|
-
|
|
541
|
|
|
|
|
|
|
|
|
|
ATSI
|
|
$28.92
|
|
160
|
|
-
|
|
160
|
|
|
|
|
|
|
|
|
|
Total1
|
|
$43.25
|
|
5,567
|
|
1,338
|
|
6,905
|
1 Total
may not sum due to rounding.
|
About Vistra
Vistra (NYSE: VST) is a leading Fortune 500 integrated retail
electricity and power generation company based in Irving, Texas, providing essential resources
for customers, commerce, and communities. Vistra combines an
innovative, customer-centric approach to retail with safe,
reliable, diverse, and efficient power generation. The company
brings its products and services to market in 20 states and the
District of Columbia, including
six of the seven competitive wholesale markets in the U.S. Serving
approximately 4 million residential, commercial, and industrial
retail customers with electricity and natural gas, Vistra is one of
the largest competitive electricity providers in the country and
offers over 50 renewable energy plans. The company is also the
largest competitive power generator in the U.S. with a capacity of
approximately 37,000 megawatts powered by a diverse portfolio,
including natural gas, nuclear, solar, and battery energy storage
facilities. In addition, Vistra is a large purchaser of wind power.
The company owns and operates the 400-MW/1,600-MWh battery energy
storage system in Moss Landing,
California, the largest of its kind in the world. Vistra is
guided by four core principles: we do business the right way, we
work as a team, we compete to win, and we care about our
stakeholders, including our customers, our communities where we
work and live, our employees, and our investors. Learn more about
our environmental, social, and governance efforts and read the
company's sustainability report at
https://www.vistracorp.com/sustainability/.
Cautionary Note Regarding Forward-Looking Statements
The information presented herein includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements, which are
based on current expectations, estimates and projections about the
industry and markets in which Vistra Corp. ("Vistra") operates and
beliefs of and assumptions made by Vistra's management, involve
risks and uncertainties, which are difficult to predict and are not
guarantees of future performance, that could significantly affect
the financial results of Vistra. All statements, other than
statements of historical facts, that are presented herein, or in
response to questions or otherwise, that address activities, events
or developments that may occur in the future, including such
matters as activities related to our financial or operational
projections, financial condition and cash flows, projected synergy,
value lever and net debt targets, capital allocation, capital
expenditures, liquidity, projected Adjusted EBITDA to free cash
flow conversion rate, dividend policy, business strategy,
competitive strengths, goals, future acquisitions or dispositions,
development or operation of power generation assets, market and
industry developments and the growth of our businesses and
operations (often, but not always, through the use of words or
phrases, or the negative variations of those words or other
comparable words of a future or forward-looking nature, including,
but not limited to: "intends," "plans," "will likely," "unlikely,"
"believe," "confident", "expect," "seek," "anticipate," "estimate,"
"continue," "will," "shall," "should," "could," "may," "might,"
"predict," "project," "forecast," "target," "potential," "goal,"
"objective," "guidance" and "outlook"),are forward-looking
statements. Readers are cautioned not to place undue reliance on
forward-looking statements. Although Vistra believes that in making
any such forward-looking statement, Vistra's expectations are based
on reasonable assumptions, any such forward-looking statement
involves uncertainties and risks that could cause results to differ
materially from those projected in or implied by any such
forward-looking statement, including, but not limited to: (i)
adverse changes in general economic or market conditions (including
changes in interest rates) or changes in political conditions or
federal or state laws and regulations; (ii) the ability of Vistra
to execute upon its contemplated strategic, capital allocation,
performance, and cost-saving initiatives and to successfully
integrate acquired businesses; (iii) actions by credit ratings
agencies; (iv) the severity, magnitude and duration of pandemics,
and the resulting effects on our results of operations, financial
condition and cash flows; (v) the severity, magnitude and duration
of extreme weather events, contingencies and uncertainties relating
thereto, most of which are difficult to predict and many of which
are beyond our control, and the resulting effects on our results of
operations, financial condition and cash flows; and (vi) those
additional risks and factors discussed in reports filed with the
Securities and Exchange Commission by Vistra from time to time,
including the uncertainties and risks discussed in the sections
entitled "Risk Factors" and "Forward-Looking Statements" in
Vistra's annual report on Form 10-K for the year ended December 31, 2021 and any subsequently filed
quarterly reports on Form 10-Q.
Any forward-looking statement speaks only at the date on which
it is made, and except as may be required by law, Vistra will not
undertake any obligation to update any forward-looking statement to
reflect events or circumstances after the date on which it is made
or to reflect the occurrence of unanticipated events. New factors
emerge from time to time, and it is not possible to predict all of
them; nor can Vistra assess the impact of each such factor or the
extent to which any factor, or combination of factors, may cause
results to differ materially from those contained in any
forward-looking statement.
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SOURCE Vistra Corp.