While Vistra operates across the US, its Texas operations make up the single largest component of its adjusted EBITDA, at $383 million out of $541 million consolidated in 1Q23, although the figure fell short of the Street’s $575 million target for the quarter. Vistra’s generation portfolio includes a mix of natural gas, nuclear, and solar production, and it is also a major purchaser of wind power. The company serves more than 4.3 million residential, commercial, and industrial customers. Vistra’s demonstrated generation capacity allows it to market electricity in 20 states plus DC. In addition, Vistra owns an energy storage system in Moss Landing, California that is rated at 750-MW/3,000MWhbattery, making it the world’s largest such facility. Vistra employs more than 5,000 people and boasts over 37,000 megawatts of total generation capacity – and approximately 3,400 megawatts of that total come from zero-carbon renewable sources. We’ll start with Vistra Energy, a utility company based in Irving, Texas, and one of the largest utility-scale power generation companies in the US. Here are the details, drawn from the TipRanks data files, along with comments from the Street’s analysts. So, let’s take a look at some power companies that can post gains on their Texas business. The high utility prices are one obvious boon, as power companies on the Texas grid will likely see a cash windfall in the aftermath, but renewable energy companies also stand to gain long-term, as the State of Texas faces the need to expand its power generation capacity. Forecasters predict the temperatures are set to rise higher and last into the week of 4 July, meaning there is no prospect of early relief.īut dangerous situations, which this heat wave certainly is, can also bring opportunities – and investors can capitalize on the Texas crisis. Making matters worse, especially near the Gulf Coast, is unusually high humidity. Electricity prices doubled, and earlier this week got as high as $5,000 per megawatt-hour. Meanwhile, the need for air conditioning has seen demand for power spike – and so has the price. Triple digits have been reached across the state, hitting 125F in Corpus Christi and 118F in Rio Grande, as recorded by the heat index – which provides a combination of temperature and humidity. The heatwave in Texas has sent temperatures off the charts.
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