IRVING, Texas, Feb. 20, 2021 /PRNewswire/ -- Vistra (NYSE:
VST) today is announcing a $5 million
commitment to help Texas
communities and customers across its many retail brands, including
TXU Energy and Ambit. The company is providing direct donations to
social service agencies across the state along with bill-payment
assistance for customers in need.
"Even as power has returned and the electric grid has
stabilized, so many Texans are dealing with cleanup and hardships
brought on by the extended winter weather," said Curt Morgan, chief executive officer of Vistra.
"We know that every dollar that can be directed elsewhere is
helpful. By partnering with social service agencies throughout
Texas, we can quickly and
effectively help the most people."
The $5 million donation will
directly assist communities and individuals to meet their most
pressing needs, including support for food banks and food pantries,
critical needs, bill-payment assistance, and more.
Additionally, Vistra is assuring residential customers across
its retail brands that they will not see any near-term impact on
their rates due to this winter weather event. While some may
experience higher than normal bills due to higher usage during this
cold weather period in February, we expect our customers will be
insulated from storm-related rate increases.
Morgan added, "There is a lot of concern and misinformation
about electricity rates in Texas
right now. While some Texas
residents were, unfortunately, with retail electricity providers
that offered variable wholesale rate plans with no price protection
from the historic winter challenges, our residential customers on
fixed and variable pricing plans were insulated from extreme
wholesale power price swings. We do not put our customers at risk.
Fortunately, the Texas governor,
legislature, and regulators are actively discussing ways to help
residents facing outrageous electricity bills as a result of those
wholesale rate plans during the winter storm."
Just as Vistra has done throughout the pandemic, our teams are
here for our residential customers with price protection,
additional payment flexibility, and customer support.
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 more than 4.3 million
residential, commercial, and industrial retail customers with
electricity and natural gas, Vistra is one of the largest
competitive electricity providers 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 is the largest of its kind in the world.
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 the contemplated strategic, capital allocation, and
performance 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; and (v) 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 Dec. 31, 2019 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.