Vistra Energy completes merger with Dynegy
The combination of Dynegy's generation capacity and existing retail footprint with Vistra Energy's integrated ERCOT model...
Vistra Energy Corp., the parent company for TXU Energy and Luminant, revealed it has completed its previously announced merger with Dynegy Inc. The closing of the transaction follows the overwhelming approval from stockholders of both Vistra Energy Corp. and Dynegy Inc. in March, and the receipt of all required regulatory approvals. Vistra Energy Corp. will be the name of the combined company moving forward, and the combined company's stock will continue to trade on the New York Stock Exchange under the current ticker symbol for Vistra Energy.
The combination of Dynegy's generation capacity and existing retail footprint with Vistra Energy's integrated ERCOT model creates the lowest-cost integrated power company in the industry and positions the combined company as the leading integrated retail and generation platform throughout key competitive power markets in the United States.
With the transaction complete, Vistra Energy now:
• Employs about 6,000 people across 12 states.
• Serves approximately 2.7 million residential customers in five top retail states.
• Serves approximately 240,000 commercial and industrial retail customers.
• Owns approximately 40,000 megawatts of installed generation capacity.
• Has power generation capacity that is more than 60 % natural gas-fueled, with 84 % located within the ERCOT, PJM, and ISO-NE competitive power markets.
• Projects that it will produce approximately 50 % of gross margin from more stable capacity payments and retail operations, as well as approximately 50 % of adjusted EBITDA from the ERCOT market.