IRVING, Texas, June 3, 2021 /PRNewswire/ -- Vistra (NYSE: VST)
today reported its results from the PJM capacity auction for
planning year 2022/2023. The company cleared a total of 7,218
megawatts (MW) at a weighted average clearing price of $66.89
per megawatt-day, equating to approximately $176
million in capacity revenue for the 2022/2023 planning year.
Including Vistra's incremental revenue of $55-$60 million
from existing retail bilateral sales above the capacity auction
clearing price, Vistra's total revenues for the period as of
June 2, 2021 are approximately
$231-$236
million.
The table below lists Vistra's cleared capacity and
associated clearing price for the 2022/2023 capacity auction by
zone and reporting segment.
Zone
|
|
Clearing Price
per MW-day
|
|
East MW
Cleared
|
|
Sunset MW
Cleared
|
|
Total MW
Cleared
|
RTO
|
|
$50.00
|
|
2,967
|
|
-
|
|
2,967
|
ComEd
|
|
$68.96
|
|
1,255
|
|
649
|
|
1,904
|
DEOK
|
|
$71.69
|
|
99
|
|
870
|
|
968
|
EMAAC
|
|
$97.86
|
|
831
|
|
-
|
|
831
|
MAAC
|
|
$95.79
|
|
548
|
|
-
|
|
548
|
ATSI
|
|
$50.00
|
|
-
|
|
-
|
|
-
|
Total
|
|
$66.90
|
|
5,700
|
|
1,519
|
|
7,218
|
|
|
|
|
|
|
|
|
|
Media
Meranda Cohn
214-875-8004
Media.Relations@vistracorp.com
Analysts
Molly Sorg
214-812-0046
Investor@vistracorp.com
About Vistra
Vistra (NYSE: VST) is a leading, Fortune 275 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. and
markets in Canada and Japan, as well. Serving nearly 4.3 million
residential, commercial, and industrial retail customers with
electricity and natural gas, Vistra is one of the largest
competitive residential 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 39,000 megawatts powered by a diverse portfolio,
including natural gas, nuclear, solar, and battery energy storage
facilities. In addition, the company is a large purchaser of wind
power. The company is currently constructing a 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, the potential impacts of the
COVID-19 pandemic on our results of operations, 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,
including the COVID-19 pandemic, and the resulting effects on our
results of operations, financial condition and cash flows; (v) the
severity, magnitude and duration of extreme weather events
(including winter storm Uri), 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, 2020 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