IRVING, Texas, June 3, 2021 /PRNewswire/ -- Ahead of a
summer predicted to be hotter and drier than normal in Texas, Vistra is offering its Texas residential customers the opportunity to
save money and reduce demand on the grid with TXU Energy Free
Nights & Solar DaysSM. Initially launched in
2017, the popular first-of-its-kind plan gives customers 100%
solar every day and free electricity every night, encouraging a
shift of energy use to times outside of the state's typical
peak-demand periods. All of the energy purchased comes from solar
and wind renewable energy credits and solar farms, including the
company's Upton 2 Solar and Energy
Storage Facility. This innovative offering from Vistra's flagship
retail electricity brand, TXU Energy, couples the company's retail
business with its rapidly growing renewable generation
portfolio.
Vistra, which already operates a 180-MW solar and energy storage
facility in Upton County, Texas,
previously announced several new solar projects in the Texas ERCOT
market, two of which will come online this year. These zero-carbon
solar developments, totaling nearly 600 megawatts, along with its
other emission-free generation assets, are part of its Vistra Zero
portfolio and further support the company's strategic plan to meet
retail needs with renewable generation development.
"TXU Energy Free Nights & Solar Days is a prime example of
Vistra's integrated business model at work – bringing renewable
products to our retail customers while turning to our own
generation to meet a growing demand for solar," said Scott Hudson, president of Vistra Retail. "As
these customers shift electricity use to their free nighttime
hours, the plan is working to ease the strain on the state's
electric grid during high-demand, afternoon and early evening time
periods – and all with 100% renewable energy."
With Free Nights & Solar Days, Vistra utilizes advanced
metering infrastructure (AMI) data to turn customer usage
information into greener savings. Customers get free electricity
all night from 8 p.m. to 5 a.m. and
solar electricity all day from 5 a.m. to 8
p.m., resulting in ~40% free energy usage for the average
household.
Hudson continued, "Access to our own generation allows us to
offer renewable electricity products at scale, year-after-year. Our
customers, whether they are residential, commercial or industrial,
are looking for renewable solutions, and our integrated model
enables us to meet those needs."
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 5
million residential, commercial, and industrial retail customers
with electricity and natural gas, Vistra is the largest competitive
residential electricity provider 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, which will be the largest of its kind in the
world when it comes online. 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 Corp.