Vistra Reports "Strong" Margins In Retail Segment, Best Residential Customer Growth Quarter For TXU In Nearly 15 Years -- EnergyChoiceMatters.com

Vistra Reports "Strong" Margins In Retail Segment, Best Residential Customer Growth Quarter For TXU In Nearly 15 Years

August 5, 2022

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Reporting by Paul Ring • ring@energychoicematters.com

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In reporting second quarter earnings today, Vistra Corp. said that its Retail segment, "achieved strong margins and customer counts with the best retail residential customer growth quarter for TXU Energy in nearly 15 years."

As of Q2 2022, Vistra's Retail segment was serving 2.717 million residential customers, up from 2.711 million as of Q1 2022, and 2.716 million a year ago. These totals reflect direct-to-consumer electric/gas residential counts excluding municipal-aggregation and international customers

Retail volumes for the second quarter of 2022 were as follows by customer segment (in TWh):

Vistra Retail Volumes (TWh)
            Q2 2021   Q2 2022
Residential   7.7       8.8
Business     11.9      13.9
Muni Agg.     2.5       2.5

Total        22.1      25.1

For the second quarter of 2022, Vistra reported second quarter 2022 Adjusted EBITDA from Ongoing Operations from the Retail segment of $403 million, approximately $107 million lower than the $510 million posted in the second quarter of 2021, driven by the impact of the "self-help initiatives" in the second quarter of 2021 that were one-time benefits, offset by favorable margins, residential customer counts and weather in Texas in the second quarter of 2022

On a consolidated basis, for the three months ended June 30, 2022, Vistra reported Ongoing Operations Adjusted EBITDA of $761 million, versus $854 million a year ago, with the decline again primarily driven by the positive impacts of "self-help initiatives" in the second quarter of 2021 that were one-time benefits.

As of June 30, 2022, Vistra had total available liquidity of approximately $3,439 million, including cash and cash equivalents of $1,871 million, $368 million of availability under its corporate revolving credit facility, and $1,200 million of availability under its commodity-linked revolving credit facility assuming the borrowing base equals the aggregate commitments of $2.25 billion.

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