Vistra Energy Supports Texas PUC’s Market Changes for Reliability

Written By: Jen Neville
January 21, 2019

power market

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 How are forward market curves interacting with the new credit provisions to create a credit crisis rather than a capacity crisis?
 What is happening regarding the void between retail and wholesale rates?
 What are the implications for the Texas energy market?

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The Public Utility Commission of Texas (PUCT) recently took an important and necessary step to ensure the long-term reliability of the electric market while balancing the cost to consumers. The state's electric system is critical to the strength of the Texas economy and this decision sends the proper signal of confidence that the competitive electric market can deliver reliable and affordable electricity for Texans. Vistra Energy supports this reasoned action and is appreciative of the careful consideration and substantial time the PUCT has given to this significant effort.

Since 2002, competition in Texas has produced among the lowest wholesale electric prices and one of the most reliable systems in the United States. Residential and business customers have benefited greatly from the competitive electric market.

As the Texas electric system evolves from older, less-efficient technology, proper price signals must be sent to incentivize investment in maintaining the existing generation facilities and developing new, more efficient technology to continue the reliable and competitively priced access to electricity by Texas consumers.

"This thoughtful move by the PUCT is all about the continued reliability of the electric market and support for the growing Texas economy, and was made after significant, broad-based input," stated Curt Morgan, President and CEO of Vistra Energy. "We believe this is the right decision for the long-term success of the competitive electric market and for consumers in Texas."

Vistra has recently invested in new technology in the Texas electric market including a significant solar facility in Upton County and an associated 10 MW / 42 MWh battery storage facility.

Vistra has over 1500 MW of projects under consideration to expand its current operations and potentially invest in new electric generation facilities over the next few years. We expect that the PUCT's decision will help to support these potential market-based investments.

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