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Vistra (TXU Parent) Reports Increased Residential Customer Count, Strong Retail Margins
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Vistra's Retail segment reported second quarter 2024 Adjusted EBITDA of $789 million, $291 million higher than the $498 million recorded in the year-ago quarter, primarily driven by, "strong margin and customer count performance," the impacts of expected intra-year timing/seasonality of margins, and inclusion of Energy Harbor’s retail results, including default service
contracts
Vistra reported that its total residential customer count on June 30, 2024 reached 2.764 million, up from 2.739 million as of March 31, 2024, with the growth including organic growth. Although Vistra did not in a second quarter presentation specifically define the residential customer count as it has in past quarterly presentations, typically this residential customer metric reflects direct-to-consumer electric/gas residential counts excluding municipal aggregation customers
Additionally, Vistra reported 15% year-over-year residential customer growth as of the second quarter of 2024, driven by organic growth, the launch of the Lubbock, Texas market, and the
integration of Energy Harbor
Vistra further listed Retail segment highlights as:
• "Continued strong financial performance in Texas and the Midwest / Northeast"
• "Large business markets sales performance well ahead of expectations in all regions"
Vistra announced two new power purchase agreements, together totaling over 600 MW, with Amazon (200 MW in Texas) and Microsoft (405 MW in Illinois)
On a consolidated basis, Vistra reported Ongoing Operations Adjusted EBITDA for the second quarter of 2024 of $1,414 million, an increase of $406 million compared to the $1,008 million recorded in the second quarter of 2023, driven primarily by the inclusion of results from the acquisition of Energy Harbor, favorable commercial optimization of the fleet, and strong retail margins and customer count performance in Texas
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Vistra Announces 600 MW In PPAs With Amazon, Microsoft
August 8, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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