TXU Parent Reports Organic Residential Customer Growth, "Strong Margin" Performance -- EnergyChoiceMatters.com

TXU Parent Reports Organic Residential Customer Growth, "Strong Margin" Performance

May 8, 2024

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Copyright 2010-24 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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In reporting first quarter 2024 earnings, Vistra Corp. said that it experienced organic customer growth across its Texas and Midwest/Northeast retail markets

Vistra said that it grew its residential customer count organically in the quarter and year-over-year

Vistra cited, "Organic growth in ERCOT, including our flagship TXUE brand," as well as, "Organic growth in Ex-ERCOT markets".

Vistra reports its residential customer count as 2.739 million as of Q1 2024, versus 2.456 million as of Q4 2023 and 2.411 million a year ago. The residential customer count reflects direct-to-consumer Electric/Gas Residential counts excluding municipal-aggregation customers

In addition to the organic growth noted above, Vistra cited the Energy Harbor acquisition, which closed March 1, 2024, and the Lubbock, TX market open for the increase in residential customer count

First quarter 2024 Retail volumes were as follows (TWh):

                  Q1 2023     Q1 2024
Residential          6.1         6.4
Business            13.3        15.1
Muni-Aggregation     1.5         2.0
Energy Harbor        --          2.9

Total               20.9        26.4

For the Retail business, Vistra reported, "Continued strong financial performance in Texas and the Midwest / Northeast".

For the Retail business, Vistra reported, "Large business markets sales performance well ahead of expectations in all regions".

Ongoing Operations Adjusted EBITDA for the Retail segment for the first quarter of 2024 was $(28) million, versus $(29) million a year ago

For the Retail segment, Vistra reported, "Strong margin and customer count performance in ERCOT and Ex- ERCOT, offset by the warmest winter on record".

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