☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Delaware | 36-4833255 | |||||||||||||||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||||||||||||||
6555 Sierra Drive | Irving, | Texas | 75039 | (214) | 812-4600 | |||||||||||||||
(Address of principal executive offices) (Zip Code) | (Registrant's telephone number, including area code) |
Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||||||||
Common stock, par value $0.01 per share | VST | New York Stock Exchange | ||||||||||||
Warrants | VST.WS.A | New York Stock Exchange |
Large accelerated filer | ☒ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
PAGE | ||||||||
Item 15.
|
||||||||
2019 Form 10-K | Vistra's annual report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 28, 2020 | |||||||
Ambit or Ambit Energy | Ambit Holdings, LLC, and/or its subsidiaries (d/b/a Ambit), depending on context | |||||||
ARO | asset retirement and mining reclamation obligation | |||||||
CAA | Clean Air Act | |||||||
CAISO | The California Independent System Operator | |||||||
CARES Act | Coronavirus Aid, Relief, and Economic Security Act | |||||||
CCGT | combined cycle gas turbine | |||||||
CFTC | U.S. Commodity Futures Trading Commission | |||||||
Chapter 11 Cases | Cases in the U.S. Bankruptcy Court for the District of Delaware (Bankruptcy Court) concerning voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankruptcy Code) filed on April 29, 2014 (Petition Date) by Energy Future Holdings Corp. (EFH Corp.) and the majority of its direct and indirect subsidiaries, including Energy Future Intermediate Holding Company LLC, Energy Future Competitive Holdings Company LLC and TCEH but excluding Oncor Electric Delivery Holdings Company LLC and its direct and indirect subsidiaries (Debtors). On the Effective Date, subsidiaries of TCEH that were Debtors in the Chapter 11 Cases (TCEH Debtors), along with certain other Debtors that became subsidiaries of Vistra on that date (Contributed EFH Debtors) emerged from the Chapter 11 Cases. | |||||||
CME | Chicago Mercantile Exchange | |||||||
CO2
|
carbon dioxide | |||||||
CPUC | California Public Utilities Commission | |||||||
Crius | Crius Energy Trust and/or its subsidiaries, depending on context | |||||||
CT | combustion turbine | |||||||
Dynegy | Dynegy Inc., and/or its subsidiaries, depending on context | |||||||
Dynegy Energy Services | Dynegy Energy Services, LLC and Dynegy Energy Services (East), LLC (each d/b/a Dynegy, Better Buy Energy, Brighten Energy, Honor Energy and True Fit Energy), indirect, wholly owned subsidiaries of Vistra, that are REPs in certain areas of MISO and PJM, respectively, and are engaged in the retail sale of electricity to residential and business customers. | |||||||
EBITDA | earnings (net income) before interest expense, income taxes, depreciation and amortization | |||||||
Effective Date | October 3, 2016, the date the TCEH Debtors and the Contributed EFH Debtors completed their reorganization under the Bankruptcy Code and emerged from the Chapter 11 Cases | |||||||
Emergence | emergence of the TCEH Debtors and the Contributed EFH Debtors from the Chapter 11 Cases as subsidiaries of a newly formed company, Vistra, on the Effective Date | |||||||
EPA | U.S. Environmental Protection Agency | |||||||
ERCOT | Electric Reliability Council of Texas, Inc. | |||||||
ESS | energy storage system | |||||||
Exchange Act | Securities Exchange Act of 1934, as amended | |||||||
FERC | U.S. Federal Energy Regulatory Commission | |||||||
Fitch | Fitch Ratings Inc. (a credit rating agency) | |||||||
FTC | Federal Trade Commission | |||||||
GAAP | generally accepted accounting principles | |||||||
GHG | greenhouse gas | |||||||
GWh | gigawatt-hours | |||||||
Homefield Energy | Illinois Power Marketing Company (d/b/a Homefield Energy), an indirect, wholly owned subsidiary of Vistra, a REP in certain areas of MISO that is engaged in the retail sale of electricity to municipal customers | |||||||
ICE | Intercontinental Exchange | |||||||
IRC | Internal Revenue Code of 1986, as amended |
IRS | U.S. Internal Revenue Service | |||||||
ISO | independent system operator | |||||||
ISO-NE | ISO New England Inc. | |||||||
kW | kilowatt | |||||||
LIBOR | London Interbank Offered Rate, an interest rate at which banks can borrow funds, in marketable size, from other banks in the London interbank market | |||||||
load | demand for electricity | |||||||
LTSA | long-term service agreements for plant maintenance | |||||||
Luminant | subsidiaries of Vistra engaged in competitive market activities consisting of electricity generation and wholesale energy sales and purchases as well as commodity risk management | |||||||
market heat rate | Heat rate is a measure of the efficiency of converting a fuel source to electricity. Market heat rate is the implied relationship between wholesale electricity prices and natural gas prices and is calculated by dividing the wholesale market price of electricity, which is based on the price offer of the marginal supplier (generally natural gas plants), by the market price of natural gas. | |||||||
Merger | the merger of Dynegy with and into Vistra, with Vistra as the surviving corporation | |||||||
Merger Agreement | the Agreement and Plan of Merger, dated as of October 29, 2017, by and between Vistra and Dynegy | |||||||
Merger Date | April 9, 2018, the date Vistra and Dynegy completed the transactions contemplated by the Merger Agreement | |||||||
MISO | Midcontinent Independent System Operator, Inc. | |||||||
MMBtu | million British thermal units | |||||||
Moody's | Moody's Investors Service, Inc. (a credit rating agency) | |||||||
MSHA | U.S. Mine Safety and Health Administration | |||||||
MW | megawatts | |||||||
MWh | megawatt-hours | |||||||
NELP | Northeast Energy, LP, a joint venture between Dynegy Northeast Generation GP, Inc. and Dynegy Northeast Associates LP, Inc., both indirect subsidiaries of Vistra, and certain subsidiaries of NextEra Energy, Inc. Prior to the NELP Transaction, NELP indirectly owned Bellingham NEA facility and the Sayreville facility. | |||||||
NELP Transaction | a transaction among Dynegy Northeast Generation GP, Inc., Dynegy Northeast Associates LP, Inc. and certain subsidiaries of NextEra Energy, Inc. wherein the indirect subsidiaries of Vistra redeemed their ownership interest in NELP partnership in exchange for 100% ownership interest in NJEA, the entity which owns the Sayreville facility | |||||||
NERC | North American Electric Reliability Corporation | |||||||
NJEA | North Jersey Energy Associates, A Limited Partnership | |||||||
NOX
|
nitrogen oxide | |||||||
NRC | U.S. Nuclear Regulatory Commission | |||||||
NYISO | New York Independent System Operator, Inc. | |||||||
NYMEX | the New York Mercantile Exchange, a commodity derivatives exchange | |||||||
NYSE | New York Stock Exchange | |||||||
Oncor | Oncor Electric Delivery Company LLC, a direct, majority-owned subsidiary of Oncor Holdings and formerly an indirect subsidiary of EFH Corp., that is engaged in regulated electricity transmission and distribution activities | |||||||
OPEB | postretirement employee benefits other than pensions | |||||||
Parent | Vistra Corp. | |||||||
PJM | PJM Interconnection, LLC | |||||||
Plan of Reorganization | Third Amended Joint Plan of Reorganization filed by the Debtors in August 2016 and confirmed by the Bankruptcy Court in August 2016 solely with respect to the TCEH Debtors and the Contributed EFH Debtors | |||||||
PrefCo | Vistra Preferred Inc. |
PrefCo Preferred Stock Sale | as part of the Spin-Off, the contribution of certain of the assets of the Predecessor and its subsidiaries by a subsidiary of TEX Energy LLC to PrefCo in exchange for all of PrefCo's authorized preferred stock, consisting of 70,000 shares, par value $0.01 per share | |||||||
Public Power | Public Power, LLC (d/b/a Public Power), an indirect, wholly owned subsidiary of Vistra, a REP in certain areas of PJM, ISO-NE, NYISO and MISO that is engaged in the retail sale of electricity to residential and business customers | |||||||
PUCT | Public Utility Commission of Texas | |||||||
PURA | Texas Public Utility Regulatory Act | |||||||
REP | retail electric provider | |||||||
RCT | Railroad Commission of Texas, which among other things, has oversight of lignite mining activity in Texas | |||||||
RTO | regional transmission organization | |||||||
S&P | Standard & Poor's Ratings (a credit rating agency) | |||||||
SEC | U.S. Securities and Exchange Commission | |||||||
Securities Act | Securities Act of 1933, as amended | |||||||
SG&A | selling, general and administrative | |||||||
SO2
|
sulfur dioxide | |||||||
Spin-Off | the tax-free spin-off from EFH Corp. executed pursuant to the Plan of Reorganization on the Effective Date by the TCEH Debtors and the Contributed EFH Debtors | |||||||
ST | steam turbine | |||||||
Tax Matters Agreement | Tax Matters Agreement, dated as of the Effective Date, by and among EFH Corp., Energy Future Intermediate Holding Company LLC, EFIH Finance Inc. and EFH Merger Co. LLC | |||||||
TCJA | The Tax Cuts and Jobs Act of 2017, federal income tax legislation enacted in December 2017, which significantly changed the tax laws applicable to business entities | |||||||
TCEH or Predecessor | Texas Competitive Electric Holdings Company LLC, a direct, wholly owned subsidiary of Energy Future Competitive Holdings Company LLC, and, prior to the Effective Date, the parent company of the TCEH Debtors whose major subsidiaries included Luminant and TXU Energy | |||||||
TCEH Debtors | the subsidiaries of TCEH that were Debtors in the Chapter 11 Cases | |||||||
TCEQ | Texas Commission on Environmental Quality | |||||||
TRA |
Tax Receivables Agreement, containing certain rights (TRA Rights) to receive payments from Vistra related to certain tax benefits, including benefits realized as a result of certain transactions entered into at Emergence (see Note 8 to the Financial Statements)
|
|||||||
TRE | Texas Reliability Entity, Inc., an independent organization that develops reliability standards for the ERCOT region and monitors and enforces compliance with NERC standards and monitors compliance with ERCOT protocols | |||||||
TriEagle Energy | TriEagle Energy, LP (d/b/a TriEagle Energy, TriEagle Energy Services, Eagle Energy, Energy Rewards, Power House Energy and Viridian Energy), an indirect, wholly owned subsidiary of Vistra, a REP in certain areas of ERCOT and PJM that is engaged in the retail sale of electricity to residential and business customers | |||||||
TWh | terawatt-hours | |||||||
TXU Energy | TXU Energy Retail Company LLC (d/b/a TXU), an indirect, wholly owned subsidiary of Vistra that is a REP in competitive areas of ERCOT and is engaged in the retail sale of electricity to residential and business customers | |||||||
U.S. | United States of America | |||||||
U.S. Gas & Electric | U.S. Gas and Electric, Inc. (d/b/a USG&E, Illinois Gas & Electric and ILG&E), an indirect, wholly owned subsidiary of Vistra, a REP in certain areas of PJM, ISO-NE, NYISO and MISO that is engaged in the retail sale of electricity to residential and business customers | |||||||
Value Based Brands | Value Based Brands LLC (d/b/a 4Change Energy, Express Energy and Veteran Energy), an indirect, wholly owned subsidiary of Vistra that is a REP in competitive areas of ERCOT and is engaged in the retail sale of electricity to residential and business customers | |||||||
Vistra | Vistra Corp., formerly known as TCEH Corp., and/or its subsidiaries, depending on context. On the Effective Date, the TCEH Debtors and the Contributed EFH Debtors emerged from Chapter 11 and became subsidiaries of Vistra Energy Corp. Effective July 2, 2020, Vistra Energy Corp. changed its name to Vistra Corp. | |||||||
Vistra Intermediate | Vistra Intermediate Company LLC, a direct, wholly owned subsidiary of Vistra |
Vistra Operations |
Vistra Operations Company LLC, an indirect, wholly owned subsidiary of Vistra that is the issuer of certain series of notes (see Note 11 to the Financial Statements) and borrower under the Vistra Operations Credit Facilities
|
|||||||
Vistra Operations Credit Facilities |
Vistra Operations Company LLC's $5.297 billion senior secured financing facilities (see Note 11 to the Financial Statements)
|
ISO/RTO | Technology | Primary Fuel | Number of Facilities | Net Capacity (MW) | ||||||||||||||||||||||
ERCOT | CCGT | Natural Gas | 7 | 7,838 | ||||||||||||||||||||||
ERCOT | ST | Coal | 2 | 3,850 | ||||||||||||||||||||||
ERCOT | CT or ST | Natural Gas | 7 | 3,455 | ||||||||||||||||||||||
ERCOT | Nuclear | Nuclear | 1 | 2,300 | ||||||||||||||||||||||
ERCOT | Solar/Battery | Renewable | 1 | 180 | ||||||||||||||||||||||
Total Texas Segment | 18 | 17,623 |
ISO/RTO | Technology | Primary Fuel | Number of Facilities | Net Capacity (MW) | ||||||||||||||||||||||
PJM | CCGT | Natural Gas | 8 | 6,081 | ||||||||||||||||||||||
PJM | CT | Natural Gas | 4 | 1,346 | ||||||||||||||||||||||
PJM | CT | Fuel Oil | 2 | 93 | ||||||||||||||||||||||
ISO-NE | CCGT | Natural Gas | 6 | 3,361 | ||||||||||||||||||||||
NYISO | CCGT | Natural Gas | 1 | 1,212 | ||||||||||||||||||||||
Total East Segment | 21 | 12,093 |
ISO/RTO | Technology | Primary Fuel | Number of Facilities | Net Capacity (MW) | ||||||||||||||||||||||
CAISO | CCGT | Natural Gas | 1 | 1,020 | ||||||||||||||||||||||
CAISO | Battery | Renewable | 1 | 300 | ||||||||||||||||||||||
CAISO | CT | Fuel Oil | 1 | 165 | ||||||||||||||||||||||
Total West Segment | 3 | 1,485 |
ISO/RTO | Technology | Primary Fuel | Number of Facilities | Net Capacity (MW) | ||||||||||||||||||||||
ERCOT | ST | Coal | 1 | 650 | ||||||||||||||||||||||
MISO | ST | Coal | 4 | 3,187 | ||||||||||||||||||||||
MISO | CT | Natural Gas | 2 | 221 | ||||||||||||||||||||||
PJM | ST | Coal | 3 | 3,428 | ||||||||||||||||||||||
Total Sunset Segment | 10 | 7,486 |
Facility | Location | ISO/RTO | Technology | Primary Fuel (a) | Net Capacity (MW) (b) | Ownership Interest (c) | ||||||||||||||||||||||||||||||||
Ennis | Ennis, TX | ERCOT | CCGT | Natural Gas | 366 | 100% | ||||||||||||||||||||||||||||||||
Forney | Forney, TX | ERCOT | CCGT | Natural Gas | 1,912 | 100% | ||||||||||||||||||||||||||||||||
Hays | San Marcos, TX | ERCOT | CCGT | Natural Gas | 1,047 | 100% | ||||||||||||||||||||||||||||||||
Lamar | Paris, TX | ERCOT | CCGT | Natural Gas | 1,076 | 100% | ||||||||||||||||||||||||||||||||
Midlothian | Midlothian, TX | ERCOT | CCGT | Natural Gas | 1,596 | 100% | ||||||||||||||||||||||||||||||||
Odessa | Odessa, TX | ERCOT | CCGT | Natural Gas | 1,054 | 100% | ||||||||||||||||||||||||||||||||
Wise | Poolville, TX | ERCOT | CCGT | Natural Gas | 787 | 100% | ||||||||||||||||||||||||||||||||
Martin Lake | Tatum, TX | ERCOT | ST | Coal | 2,250 | 100% | ||||||||||||||||||||||||||||||||
Oak Grove | Franklin, TX | ERCOT | ST | Coal | 1,600 | 100% | ||||||||||||||||||||||||||||||||
DeCordova | Granbury, TX | ERCOT | CT | Natural Gas | 260 | 100% | ||||||||||||||||||||||||||||||||
Graham | Graham, TX | ERCOT | ST | Natural Gas | 630 | 100% | ||||||||||||||||||||||||||||||||
Lake Hubbard | Dallas, TX | ERCOT | ST | Natural Gas | 921 | 100% | ||||||||||||||||||||||||||||||||
Morgan Creek | Colorado City, TX | ERCOT | CT | Natural Gas | 390 | 100% | ||||||||||||||||||||||||||||||||
Permian Basin | Monahans, TX | ERCOT | CT | Natural Gas | 325 | 100% | ||||||||||||||||||||||||||||||||
Stryker Creek | Rusk, TX | ERCOT | ST | Natural Gas | 685 | 100% | ||||||||||||||||||||||||||||||||
Trinidad | Trinidad, TX | ERCOT | ST | Natural Gas | 244 | 100% | ||||||||||||||||||||||||||||||||
Comanche Peak | Glen Rose, TX | ERCOT | Nuclear | Nuclear | 2,300 | 100% | ||||||||||||||||||||||||||||||||
Upton 2 | Upton County, TX | ERCOT | Solar/Battery | Renewable | 180 | 100% | ||||||||||||||||||||||||||||||||
Total Texas Segment | 17,623 | |||||||||||||||||||||||||||||||||||||
Fayette | Masontown, PA | PJM | CCGT | Natural Gas | 726 | 100% | ||||||||||||||||||||||||||||||||
Hanging Rock | Ironton, OH | PJM | CCGT | Natural Gas | 1,430 | 100% | ||||||||||||||||||||||||||||||||
Hopewell | Hopewell, VA | PJM | CCGT | Natural Gas | 370 | 100% | ||||||||||||||||||||||||||||||||
Kendall | Minooka, IL | PJM | CCGT | Natural Gas | 1,288 | 100% | ||||||||||||||||||||||||||||||||
Liberty | Eddystone, PA | PJM | CCGT | Natural Gas | 607 | 100% | ||||||||||||||||||||||||||||||||
Ontelaunee | Reading, PA | PJM | CCGT | Natural Gas | 600 | 100% | ||||||||||||||||||||||||||||||||
Sayreville | Sayreville, NJ | PJM | CCGT | Natural Gas | 349 | 100% | ||||||||||||||||||||||||||||||||
Washington | Beverly, OH | PJM | CCGT | Natural Gas | 711 | 100% | ||||||||||||||||||||||||||||||||
Calumet | Chicago, IL | PJM | CT | Natural Gas | 380 | 100% | ||||||||||||||||||||||||||||||||
Dicks Creek | Monroe, OH | PJM | CT | Natural Gas | 155 | 100% | ||||||||||||||||||||||||||||||||
Miami Fort (CT) | North Bend, OH | PJM | CT | Fuel Oil | 77 | 100% | ||||||||||||||||||||||||||||||||
Pleasants | Saint Marys, WV | PJM | CT | Natural Gas | 388 | 100% | ||||||||||||||||||||||||||||||||
Richland | Defiance, OH | PJM | CT | Natural Gas | 423 | 100% |
Facility | Location | ISO/RTO | Technology | Primary Fuel (a) | Net Capacity (MW) (b) | Ownership Interest (c) | ||||||||||||||||||||||||||||||||
Stryker | Stryker, OH | PJM | CT | Fuel Oil | 16 | 100% | ||||||||||||||||||||||||||||||||
Bellingham | Bellingham, MA | ISO-NE | CCGT | Natural Gas | 566 | 100% | ||||||||||||||||||||||||||||||||
Blackstone | Blackstone, MA | ISO-NE | CCGT | Natural Gas | 544 | 100% | ||||||||||||||||||||||||||||||||
Casco Bay | Veazie, ME | ISO-NE | CCGT | Natural Gas | 543 | 100% | ||||||||||||||||||||||||||||||||
Lake Road | Dayville, CT | ISO-NE | CCGT | Natural Gas | 827 | 100% | ||||||||||||||||||||||||||||||||
Masspower | Indian Orchard, MA | ISO-NE | CCGT | Natural Gas | 281 | 100% | ||||||||||||||||||||||||||||||||
Milford | Milford, CT | ISO-NE | CCGT | Natural Gas | 600 | 100% | ||||||||||||||||||||||||||||||||
Independence | Oswego, NY | NYISO | CCGT | Natural Gas | 1,212 | 100% | ||||||||||||||||||||||||||||||||
Total East Segment | 12,093 | |||||||||||||||||||||||||||||||||||||
Moss Landing 1 & 2 | Moss Landing, CA | CAISO | CCGT | Natural Gas | 1,020 | 100% | ||||||||||||||||||||||||||||||||
Moss Landing | Moss Landing, CA | CAISO | Battery | Renewable | 300 | 100% | ||||||||||||||||||||||||||||||||
Oakland | Oakland, CA | CAISO | CT | Fuel Oil | 165 | 100% | ||||||||||||||||||||||||||||||||
Total West Segment | 1,485 | |||||||||||||||||||||||||||||||||||||
Coleto Creek | Goliad, TX | ERCOT | ST | Coal | 650 | 100% | ||||||||||||||||||||||||||||||||
Baldwin | Baldwin, IL | MISO | ST | Coal | 1,185 | 100% | ||||||||||||||||||||||||||||||||
Edwards | Bartonville, IL | MISO | ST | Coal | 585 | 100% | ||||||||||||||||||||||||||||||||
Newton | Newton, IL | MISO | ST | Coal | 615 | 100% | ||||||||||||||||||||||||||||||||
Joppa/EEI | Joppa, IL | MISO | ST | Coal | 802 | 80% | ||||||||||||||||||||||||||||||||
Joppa CT 1-3 | Joppa, IL | MISO | CT | Natural Gas | 165 | 100% | ||||||||||||||||||||||||||||||||
Joppa CT 4-5 | Joppa, IL | MISO | CT | Natural Gas | 56 | 80% | ||||||||||||||||||||||||||||||||
Kincaid | Kincaid, IL | PJM | ST | Coal | 1,108 | 100% | ||||||||||||||||||||||||||||||||
Miami Fort 7 & 8 | North Bend, OH | PJM | ST | Coal | 1,020 | 100% | ||||||||||||||||||||||||||||||||
Zimmer | Moscow, OH | PJM | ST | Coal | 1,300 | 100% | ||||||||||||||||||||||||||||||||
Total Sunset Segment | 7,486 | |||||||||||||||||||||||||||||||||||||
Total capacity | 38,687 |
Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of a Publicly Announced Program | Maximum Dollar Amount of Shares that may yet be Purchased under the Program (in millions) | |||||||||||||||||||||||
October 1 - October 31, 2020 | — | $ | — | — | $ | 332 | ||||||||||||||||||||
November 1 - November 30, 2020 | — | $ | — | — | $ | 332 | ||||||||||||||||||||
December 1 - December 31, 2020 | — | $ | — | — | $ | 332 | ||||||||||||||||||||
For the quarter ended December 31, 2020 | — | $ | — | — | $ | 332 |
2020-2021 | 2021-2022 | ||||||||||
(average price per MW-day) | |||||||||||
RTO zone (a) | $ | 88.32 | $ | 140.00 | |||||||
ComEd zone | 188.12 | 195.55 | |||||||||
MAAC zone | 86.04 | 140.00 | |||||||||
EMAAC zone | 187.87 | 165.73 | |||||||||
ATSI zone | 76.53 | 171.33 | |||||||||
PPL zone | 86.04 | 140.00 |
2020-2021 | 2021-2022 | 2022-2023 | |||||||||||||||||||||
CP auction capacity sold, net (MW) | 9,065 | 9,309 | 125 | ||||||||||||||||||||
Bilateral capacity sold, net (MW) | 100 | 250 | 200 | ||||||||||||||||||||
Total segment capacity sold, net (MW)
|
9,165 | 9,559 | 325 | ||||||||||||||||||||
Average price per MW-day | $ | 128.24 | $ | 157.30 | $ | 165.77 |
Summer
2021 |
Winter
2021 - 2022 |
||||||||||
Price per kW-month | $ | 2.71 | $ | 0.10 |
Winter
2020 - 2021 |
Summer
2021 |
Winter
2021 - 2022 |
Summer
2022 |
Winter
2022 - 2023 |
|||||||||||||||||||||||||||||||
Auction capacity sold (MW) | 144 | — | — | — | — | ||||||||||||||||||||||||||||||
Bilateral capacity sold (MW) | 747 | 843 | 305 | 210 | 71 | ||||||||||||||||||||||||||||||
Total capacity sold (MW)
|
891 | 843 | 305 | 210 | 71 | ||||||||||||||||||||||||||||||
Average price per kW-month | $ | 0.72 | $ | 2.43 | $ | 0.97 | $ | 1.13 | $ | 1.13 |
2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | ||||||||||||||||||||||||||
Price per kW-month | $ | 5.30 | $ | 4.63 | $ | 3.80 | $ | 2.00 |
2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | |||||||||||||||||||||||||
Auction capacity sold (MW) | 3,085 | 2,798 | 2,996 | 2,496 | — | ||||||||||||||||||||||||
Bilateral capacity sold (MW) | 191 | 170 | 95 | 20 | 20 | ||||||||||||||||||||||||
Total capacity sold (MW)
|
3,276 | 2,968 | 3,091 | 2,516 | 20 | ||||||||||||||||||||||||
Average price per kW-month | $ | 5.11 | $ | 4.57 | $ | 3.92 | $ | 2.16 | $ | 4.93 |
2020-2021 | |||||||||||
Price per MW-day | $ | 5.00 |
2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | ||||||||||||||||||||
Bilateral capacity sold in MISO (MW) | 2,672 | 2,098 | 573 | 251 | |||||||||||||||||||
CP auction capacity sold in PJM (MW) | — | 15 | — | — | |||||||||||||||||||
Total MISO segment capacity sold (MW)
|
2,672 | 2,113 | 573 | 251 | |||||||||||||||||||
Average price per kW-month | $ | 3.04 | $ | 3.12 | $ | 4.05 | $ | 3.69 |
2021 | 2022 | ||||||||||||||||
Bilateral capacity sold (Avg MW) | 1,020 | 831 |
2021 | 2022 | ||||||||||
Nuclear/Renewable/Coal Generation: | |||||||||||
Texas | 91 | % | 46 | % | |||||||
Sunset | 98 | % | 57 | % | |||||||
Gas Generation: | |||||||||||
Texas | 76 | % | 16 | % | |||||||
East | 92 | % | 23 | % | |||||||
West | 99 | % | 9 | % |
2021 | 2022 | ||||||||||
Texas: | |||||||||||
Nuclear/Renewable/Coal Generation: $2.50/MWh increase in power price | $ | 12 | $ | 63 | |||||||
Nuclear/Renewable/Coal Generation: $2.50/MWh decrease in power price | $ | (9) | $ | (59) | |||||||
Gas Generation: $1.00/MWh increase in spark spread | $ | 12 | $ | 33 | |||||||
Gas Generation: $1.00/MWh decrease in spark spread | $ | (9) | $ | (30) | |||||||
Residual Natural Gas Position: $0.25/MMBtu increase in natural gas price | $ | (13) | $ | (15) | |||||||
Residual Natural Gas Position: $0.25/MMBtu decrease in natural gas price | $ | 1 | $ | 3 | |||||||
East: | |||||||||||
Gas Generation: $1.00/MWh increase in spark spread | $ | 5 | $ | 38 | |||||||
Gas Generation: $1.00/MWh decrease in spark spread | $ | (3) | $ | (35) | |||||||
Residual Natural Gas Position: $0.25/MMBtu increase in natural gas price | $ | (5) | $ | (4) | |||||||
Residual Natural Gas Position: $0.25/MMBtu decrease in natural gas price | $ | 5 | $ | 4 | |||||||
West: | |||||||||||
Gas Generation: $1.00/MWh increase in spark spread | $ | — | $ | 4 | |||||||
Gas Generation: $1.00/MWh decrease in spark spread | $ | — | $ | (4) | |||||||
Residual Natural Gas Position: $0.25/MMBtu increase in natural gas price | $ | 1 | $ | 1 | |||||||
Residual Natural Gas Position: $0.25/MMBtu decrease in natural gas price | $ | (1) | $ | (1) | |||||||
Sunset: | |||||||||||
Coal Generation: $2.50/MWh increase in power price | $ | 5 | $ | 40 | |||||||
Coal Generation: $2.50/MWh decrease in power price | $ | (1) | $ | (34) |
Year Ended December 31, |
2020 vs 2019
Favorable (Unfavorable) $ Change |
2019 vs 2018
Favorable (Unfavorable) $ Change |
|||||||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||||||||
Operating revenues | $ | 11,443 | $ | 11,809 | $ | 9,144 | $ | (366) | $ | 2,665 | |||||||||||||||||||
Fuel, purchased power costs and delivery fees | (5,174) | (5,742) | (5,036) | 568 | (706) | ||||||||||||||||||||||||
Operating costs | (1,622) | (1,530) | (1,297) | (92) | (233) | ||||||||||||||||||||||||
Depreciation and amortization | (1,737) | (1,640) | (1,394) | (97) | (246) | ||||||||||||||||||||||||
Selling, general and administrative expenses | (1,035) | (904) | (926) | (131) | 22 | ||||||||||||||||||||||||
Impairment of long-lived assets | (356) | — | — | (356) | — | ||||||||||||||||||||||||
Operating income
|
1,519 | 1,993 | 491 | (474) | 1,502 | ||||||||||||||||||||||||
Other income | 34 | 56 | 47 | (22) | 9 | ||||||||||||||||||||||||
Other deductions | (42) | (15) | (5) | (27) | (10) | ||||||||||||||||||||||||
Interest expense and related charges | (630) | (797) | (572) | 167 | (225) | ||||||||||||||||||||||||
Impacts of Tax Receivable Agreement | 5 | (37) | (79) | 42 | 42 | ||||||||||||||||||||||||
Equity in earnings of unconsolidated investment | 4 | 16 | 17 | (12) | (1) | ||||||||||||||||||||||||
Income (loss) before income taxes
|
890 | 1,216 | (101) | (326) | 1,317 | ||||||||||||||||||||||||
Income tax (expense) benefit | (266) | (290) | 45 | 24 | (335) | ||||||||||||||||||||||||
Net income (loss)
|
$ | 624 | $ | 926 | $ | (56) | $ | (302) | $ | 982 | |||||||||||||||||||
Year Ended December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other | Vistra Consolidated | ||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 8,270 | $ | 4,116 | $ | 2,415 | $ | 282 | $ | 1,252 | $ | 3 | $ | (4,895) | $ | 11,443 | |||||||||||||||||||||||||||||||
Fuel, purchased power costs and delivery fees | (6,857) | (1,078) | (1,262) | (168) | (704) | — | 4,895 | (5,174) | |||||||||||||||||||||||||||||||||||||||
Operating costs | (123) | (727) | (270) | (30) | (408) | (63) | (1) | (1,622) | |||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | (303) | (475) | (721) | (19) | (133) | (22) | (64) | (1,737) | |||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | (675) | (75) | (89) | (26) | (71) | (27) | (72) | (1,035) | |||||||||||||||||||||||||||||||||||||||
Impairment of long-lived assets | — | — | — | — | (356) | — | — | (356) | |||||||||||||||||||||||||||||||||||||||
Operating income (loss) | 312 | 1,761 | 73 | 39 | (420) | (109) | (137) | 1,519 | |||||||||||||||||||||||||||||||||||||||
Other income | 6 | 3 | 1 | 1 | 6 | 10 | 7 | 34 | |||||||||||||||||||||||||||||||||||||||
Other deductions | 1 | (12) | (30) | — | 2 | (2) | (1) | (42) | |||||||||||||||||||||||||||||||||||||||
Interest expense and related charges | (10) | 8 | (7) | 10 | (2) | — | (629) | (630) | |||||||||||||||||||||||||||||||||||||||
Impacts of Tax Receivable Agreement | — | — | — | — | — | — | 5 | 5 | |||||||||||||||||||||||||||||||||||||||
Equity in earnings of unconsolidated investment | — | — | 4 | — | — | — | — | 4 | |||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes
|
309 | 1,760 | 41 | 50 | (414) | (101) | (755) | 890 | |||||||||||||||||||||||||||||||||||||||
Income tax expense | — | — | — | — | — | — | (266) | (266) | |||||||||||||||||||||||||||||||||||||||
Net income (loss)
|
$ | 309 | $ | 1,760 | $ | 41 | $ | 50 | $ | (414) | $ | (101) | $ | (1,021) | $ | 624 |
Year Ended December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other | Vistra Consolidated | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 6,872 | $ | 3,836 | $ | 2,790 | $ | 338 | $ | 1,602 | $ | 341 | $ | (3,970) | $ | 11,809 | |||||||||||||||||||||||||||||||||||||||||||||||||
Fuel, purchased power costs and delivery fees | (5,816) | (1,283) | (1,393) | (187) | (767) | (267) | 3,971 | (5,742) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating costs | (71) | (691) | (236) | (27) | (366) | (138) | (1) | (1,530) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | (292) | (472) | (680) | (19) | (120) | — | (57) | (1,640) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | (538) | (76) | (83) | (17) | (78) | (43) | (69) | (904) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | 155 | 1,314 | 398 | 88 | 271 | (107) | (126) | 1,993 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other income | — | 28 | — | — | 7 | 3 | 18 | 56 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other deductions | — | (8) | (1) | — | — | (5) | (1) | (15) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense and related charges | (21) | 8 | (13) | — | (4) | — | (767) | (797) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impacts of Tax Receivable Agreement | — | — | — | — | — | — | (37) | (37) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity in earnings of unconsolidated investment | — | — | 16 | — | — | — | — | 16 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes
|
134 | 1,342 | 400 | 88 | 274 | (109) | (913) | 1,216 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income tax expense | — | — | — | — | — | — | (290) | (290) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss)
|
$ | 134 | $ | 1,342 | $ | 400 | $ | 88 | $ | 274 | $ | (109) | $ | (1,203) | $ | 926 |
Year Ended December 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other | Vistra Consolidated | ||||||||||||||||||||||||||||||||||||||||
Operating revenues | $ | 5,597 | $ | 2,497 | $ | 1,895 | $ | 208 | $ | 1,183 | $ | 371 | $ | (2,607) | $ | 9,144 | |||||||||||||||||||||||||||||||
Fuel, purchased power costs and delivery fees | (4,126) | (1,461) | (1,131) | (134) | (505) | (286) | 2,607 | (5,036) | |||||||||||||||||||||||||||||||||||||||
Operating costs | (39) | (661) | (164) | (17) | (305) | (109) | (2) | (1,297) | |||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | (318) | (390) | (519) | (14) | (81) | — | (72) | (1,394) | |||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | (424) | (88) | (71) | (8) | (50) | (39) | (246) | (926) | |||||||||||||||||||||||||||||||||||||||
Operating income (loss) | 690 | (103) | 10 | 35 | 242 | (63) | (320) | 491 | |||||||||||||||||||||||||||||||||||||||
Other income | 29 | 34 | 1 | — | — | 2 | (19) | 47 | |||||||||||||||||||||||||||||||||||||||
Other deductions | — | (7) | (1) | — | 1 | (1) | 3 | (5) | |||||||||||||||||||||||||||||||||||||||
Interest expense and related charges | (7) | (12) | (10) | (1) | (1) | — | (541) | (572) | |||||||||||||||||||||||||||||||||||||||
Impacts of Tax Receivable Agreement | — | — | — | — | — | — | (79) | (79) | |||||||||||||||||||||||||||||||||||||||
Equity in earnings of unconsolidated investment | — | — | 18 | — | — | — | (1) | 17 | |||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes
|
712 | (88) | 18 | 34 | 242 | (62) | (957) | (101) | |||||||||||||||||||||||||||||||||||||||
Income tax benefit | — | — | — | — | — | — | 45 | 45 | |||||||||||||||||||||||||||||||||||||||
Net income (loss)
|
$ | 712 | $ | (88) | $ | 18 | $ | 34 | $ | 242 | $ | (62) | $ | (912) | $ | (56) |
Year Ended December 31, |
2020 vs 2019
Favorable (Unfavorable) $ Change |
2019 vs 2018
Favorable (Unfavorable) $ Change |
|||||||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||||||||
Net income (loss) | $ | 624 | $ | 926 | $ | (56) | $ | (302) | $ | 982 | |||||||||||||||||||
Income tax expense (benefit) | 266 | 290 | (45) | (24) | 335 | ||||||||||||||||||||||||
Interest expense and related charges (a) | 630 | 797 | 572 | (167) | 225 | ||||||||||||||||||||||||
Depreciation and amortization (b) | 1,812 | 1,713 | 1,472 | 99 | 241 | ||||||||||||||||||||||||
EBITDA | 3,332 | 3,726 | 1,943 | (394) | 1,783 | ||||||||||||||||||||||||
Unrealized net (gain) loss resulting from commodity hedging transactions | (231) | (696) | 380 | 465 | (1,076) | ||||||||||||||||||||||||
Generation plant retirement expenses | 43 | 54 | — | (11) | 54 | ||||||||||||||||||||||||
Fresh start/purchase accounting impacts | 38 | 30 | 41 | 8 | (11) | ||||||||||||||||||||||||
Impacts of Tax Receivable Agreement | (5) | 37 | 79 | (42) | (42) | ||||||||||||||||||||||||
Non-cash compensation expenses | 63 | 48 | 73 | 15 | (25) | ||||||||||||||||||||||||
Transition and merger expenses | 16 | 115 | 233 | (99) | (118) | ||||||||||||||||||||||||
Impairment of long-lived assets | 356 | — | — | 356 | — | ||||||||||||||||||||||||
Loss on disposal of investment in NELP | 29 | — | — | 29 | — | ||||||||||||||||||||||||
COVID-19-related expenses (c) | 25 | — | — | 25 | — | ||||||||||||||||||||||||
Odessa earnout buybacks | — | — | 18 | — | (18) | ||||||||||||||||||||||||
Other, net | 19 | 11 | (7) | 8 | 18 | ||||||||||||||||||||||||
Adjusted EBITDA | $ | 3,685 | $ | 3,325 | $ | 2,760 | $ | 360 | $ | 565 |
Year Ended December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 309 | $ | 1,760 | $ | 41 | $ | 50 | $ | (414) | $ | (101) | $ | (1,021) | $ | 624 | |||||||||||||||||||||||||||||||
Income tax expense | — | — | — | — | — | — | 266 | 266 | |||||||||||||||||||||||||||||||||||||||
Interest expense and related charges (a) | 10 | (8) | 7 | (10) | 2 | — | 629 | 630 | |||||||||||||||||||||||||||||||||||||||
Depreciation and amortization (b) | 303 | 550 | 721 | 19 | 133 | 22 | 64 | 1,812 | |||||||||||||||||||||||||||||||||||||||
EBITDA | 622 | 2,302 | 769 | 59 | (279) | (79) | (62) | 3,332 | |||||||||||||||||||||||||||||||||||||||
Unrealized net (gain) loss resulting from commodity hedging transactions | 340 | (691) | 15 | 10 | 95 | — | — | (231) | |||||||||||||||||||||||||||||||||||||||
Generation plant retirement expenses | — | — | — | — | 43 | — | — | 43 | |||||||||||||||||||||||||||||||||||||||
Fresh start/purchase accounting impacts | 5 | (8) | 22 | — | 19 | — | — | 38 | |||||||||||||||||||||||||||||||||||||||
Impacts of Tax Receivable Agreement | — | — | — | — | — | — | (5) | (5) | |||||||||||||||||||||||||||||||||||||||
Non-cash compensation expenses | — | — | — | — | — | — | 63 | 63 | |||||||||||||||||||||||||||||||||||||||
Transition and merger expenses | 5 | 2 | 1 | — | — | (3) | 11 | 16 | |||||||||||||||||||||||||||||||||||||||
Impairment of long-lived assets | — | — | — | — | 356 | — | — | 356 | |||||||||||||||||||||||||||||||||||||||
Loss on disposal of investment in NELP | — | — | 29 | — | — | — | — | 29 | |||||||||||||||||||||||||||||||||||||||
COVID-19-related expenses (c) | — | 15 | 3 | — | 5 | — | 2 | 25 | |||||||||||||||||||||||||||||||||||||||
Other, net | 11 | 26 | 10 | 4 | 3 | 1 | (36) | 19 | |||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | $ | 983 | $ | 1,646 | $ | 849 | $ | 73 | $ | 242 | $ | (81) | $ | (27) | $ | 3,685 |
Year Ended December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 134 | $ | 1,342 | $ | 400 | $ | 88 | $ | 274 | $ | (109) | $ | (1,203) | $ | 926 | |||||||||||||||||||||||||||||||
Income tax expense | — | — | — | — | — | — | 290 | 290 | |||||||||||||||||||||||||||||||||||||||
Interest expense and related charges (a) | 21 | (8) | 13 | — | 4 | — | 767 | 797 | |||||||||||||||||||||||||||||||||||||||
Depreciation and amortization (b) | 292 | 545 | 680 | 19 | 120 | — | 57 | 1,713 | |||||||||||||||||||||||||||||||||||||||
EBITDA | 447 | 1,879 | 1,093 | 107 | 398 | (109) | (89) | 3,726 | |||||||||||||||||||||||||||||||||||||||
Unrealized net (gain) loss resulting from commodity hedging transactions | 278 | (591) | (196) | (41) | (146) | — | — | (696) | |||||||||||||||||||||||||||||||||||||||
Generation plant retirement expenses | — | — | — | — | 12 | 42 | — | 54 | |||||||||||||||||||||||||||||||||||||||
Fresh start/purchase accounting impacts | 23 | (4) | 4 | (4) | 14 | (3) | — | 30 | |||||||||||||||||||||||||||||||||||||||
Impacts of Tax Receivable Agreement | — | — | — | — | — | — | 37 | 37 | |||||||||||||||||||||||||||||||||||||||
Non-cash compensation expenses | — | — | — | — | — | — | 48 | 48 | |||||||||||||||||||||||||||||||||||||||
Transition and merger expenses | 49 | 11 | 9 | 1 | 22 | — | 23 | 115 | |||||||||||||||||||||||||||||||||||||||
Other, net | 10 | 12 | 15 | — | 8 | 2 | (36) | 11 | |||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | $ | 807 | $ | 1,307 | $ | 925 | $ | 63 | $ | 308 | $ | (68) | $ | (17) | $ | 3,325 |
Year Ended December 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 712 | $ | (88) | $ | 18 | $ | 34 | $ | 242 | $ | (62) | $ | (912) | $ | (56) | |||||||||||||||||||||||||||||||
Income tax benefit | — | — | — | — | — | — | (45) | (45) | |||||||||||||||||||||||||||||||||||||||
Interest expense and related charges (a) | 7 | 12 | 10 | (1) | 1 | — | 543 | 572 | |||||||||||||||||||||||||||||||||||||||
Depreciation and amortization (b) | 318 | 468 | 519 | 14 | 81 | — | 72 | 1,472 | |||||||||||||||||||||||||||||||||||||||
EBITDA | 1,037 | 392 | 547 | 47 | 324 | (62) | (342) | 1,943 | |||||||||||||||||||||||||||||||||||||||
Unrealized net (gain) loss resulting from commodity hedging transactions | (206) | 498 | 81 | 15 | (8) | — | — | 380 | |||||||||||||||||||||||||||||||||||||||
Fresh start/purchase accounting impacts | 26 | (4) | 11 | — | 7 | 1 | — | 41 | |||||||||||||||||||||||||||||||||||||||
Impacts of Tax Receivable Agreement | — | — | — | — | — | — | 79 | 79 | |||||||||||||||||||||||||||||||||||||||
Non-cash compensation expenses | — | — | — | — | — | — | 73 | 73 | |||||||||||||||||||||||||||||||||||||||
Transition and merger expenses | 1 | 9 | 16 | 1 | 9 | 2 | 195 | 233 | |||||||||||||||||||||||||||||||||||||||
Odessa earnout buybacks | — | 18 | — | — | — | — | — | 18 | |||||||||||||||||||||||||||||||||||||||
Other, net | (13) | (1) | 25 | 2 | 9 | (4) | (25) | (7) | |||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | $ | 845 | $ | 912 | $ | 680 | $ | 65 | $ | 341 | $ | (63) | $ | (20) | $ | 2,760 |
Year Ended December 31, |
Favorable (Unfavorable)
Change |
||||||||||||||||||||||||||||||||||
2020 | 2019 | ||||||||||||||||||||||||||||||||||
Operating revenues: | |||||||||||||||||||||||||||||||||||
Revenues in ERCOT | $ | 5,880 | $ | 5,061 | $ | 819 | |||||||||||||||||||||||||||||
Revenues in Northeast/Midwest | 2,406 | 1,818 | 588 | ||||||||||||||||||||||||||||||||
Amortization expense | (5) | (15) | 10 | ||||||||||||||||||||||||||||||||
Other revenues | (11) | 8 | (19) | ||||||||||||||||||||||||||||||||
Total operating revenues | $ | 8,270 | $ | 6,872 | $ | 1,398 | |||||||||||||||||||||||||||||
Fuel, purchased power costs and delivery fees: | |||||||||||||||||||||||||||||||||||
Purchases from affiliates | (4,566) | (3,571) | (995) | ||||||||||||||||||||||||||||||||
Unrealized net losses on hedging activities with affiliates | (329) | (305) | (24) | ||||||||||||||||||||||||||||||||
Unrealized net gains on hedging activities | — | 19 | (19) | ||||||||||||||||||||||||||||||||
Delivery fees | (1,893) | (1,629) | (264) | ||||||||||||||||||||||||||||||||
Other costs (a) | (69) | (330) | 261 | ||||||||||||||||||||||||||||||||
Total fuel, purchased power costs and delivery fees | $ | (6,857) | $ | (5,816) | $ | (1,041) | |||||||||||||||||||||||||||||
Net income
|
$ | 309 | $ | 134 | $ | 175 | |||||||||||||||||||||||||||||
Adjusted EBITDA | $ | 983 | $ | 807 | $ | 176 | |||||||||||||||||||||||||||||
Retail sales volumes (GWh): | |||||||||||||||||||||||||||||||||||
Retail electricity sales volumes: | |||||||||||||||||||||||||||||||||||
Sales volumes in ERCOT | 54,075 | 47,345 | 6,730 | ||||||||||||||||||||||||||||||||
Sales volumes in Northeast/Midwest | 36,274 | 30,255 | 6,019 | ||||||||||||||||||||||||||||||||
Total retail electricity sales volumes | 90,349 | 77,600 | 12,749 | ||||||||||||||||||||||||||||||||
Weather (North Texas average) - percent of normal (b): | |||||||||||||||||||||||||||||||||||
Cooling degree days | 90.0 | % | 96.0 | % | |||||||||||||||||||||||||||||||
Heating degree days | 91.0 | % | 113.0 | % |
Year Ended December 31, 2020 Compared to 2019 | |||||
Margin primarily driven by the addition of Crius acquired in July 2019 and Ambit acquired in November 2019 | $ | 339 | |||
Other driven by higher operating costs and SG&A expense (including bad debt expense) primarily due to the addition of Crius and Ambit
|
(162) | ||||
Change in Adjusted EBITDA | $ | 177 | |||
Change in depreciation and amortization expenses driven by Crius/Ambit intangibles | (11) | ||||
(Unfavorable) impact of higher unrealized net losses on commodity hedging activities | (62) | ||||
Lower transition and merger and other expenses | 71 | ||||
Change in Net income | $ | 175 |
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||
Texas | East | West | Sunset | ||||||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | ||||||||||||||||||||||||||||||||||||||||
Operating revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
Electricity sales | $ | 896 | $ | 1,048 | $ | 833 | $ | 1,355 | $ | 289 | $ | 293 | $ | 883 | $ | 969 | |||||||||||||||||||||||||||||||
Capacity revenue from ISO/RTO | — | — | (52) | 170 | — | — | 164 | 197 | |||||||||||||||||||||||||||||||||||||||
Sales to affiliates | 2,543 | 2,213 | 1,655 | 1,074 | 3 | — | 365 | 285 | |||||||||||||||||||||||||||||||||||||||
Rolloff of unrealized net gains (losses) representing positions settled in the current period | 2 | 371 | 159 | 59 | (22) | (10) | (205) | (74) | |||||||||||||||||||||||||||||||||||||||
Unrealized net gains (losses) on hedging activities | 217 | 72 | (121) | (44) | 12 | 51 | 133 | 249 | |||||||||||||||||||||||||||||||||||||||
Unrealized net gains (losses) on hedging activities with affiliates | 458 | 132 | (61) | 180 | — | — | (68) | (7) | |||||||||||||||||||||||||||||||||||||||
Other revenues | — | — | 2 | (4) | — | 4 | (20) | (17) | |||||||||||||||||||||||||||||||||||||||
Operating revenues | 4,116 | 3,836 | 2,415 | 2,790 | 282 | 338 | 1,252 | 1,602 | |||||||||||||||||||||||||||||||||||||||
Fuel, purchased power costs and delivery fees: | |||||||||||||||||||||||||||||||||||||||||||||||
Fuel for generation facilities and purchased power costs | (960) | (1,117) | (1,225) | (1,381) | (166) | (187) | (744) | (739) | |||||||||||||||||||||||||||||||||||||||
Fuel for generation facilities and purchased power costs from affiliates | 6 | — | (8) | (2) | — | — | 2 | 2 | |||||||||||||||||||||||||||||||||||||||
Unrealized (gains) losses from hedging activities | 14 | 16 | 8 | 1 | — | — | 45 | (22) | |||||||||||||||||||||||||||||||||||||||
Ancillary and other costs | (138) | (182) | (37) | (11) | (2) | — | (7) | (8) | |||||||||||||||||||||||||||||||||||||||
Fuel, purchased power costs and delivery fees | (1,078) | (1,283) | (1,262) | (1,393) | (168) | (187) | (704) | (767) | |||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 1,760 | $ | 1,342 | $ | 41 | $ | 400 | $ | 50 | $ | 88 | $ | (414) | $ | 274 | |||||||||||||||||||||||||||||||
Adjusted EBITDA | $ | 1,646 | $ | 1,307 | $ | 849 | $ | 925 | $ | 73 | $ | 63 | $ | 242 | $ | 308 | |||||||||||||||||||||||||||||||
Production volumes (GWh): | |||||||||||||||||||||||||||||||||||||||||||||||
Natural gas facilities | 35,093 | 39,433 | 55,938 | 55,555 | 5,284 | 5,228 | |||||||||||||||||||||||||||||||||||||||||
Lignite and coal facilities | 26,013 | 24,558 | 29,971 | 34,424 | |||||||||||||||||||||||||||||||||||||||||||
Nuclear facilities | 19,480 | 19,305 | |||||||||||||||||||||||||||||||||||||||||||||
Solar/Battery facilities | 432 | 439 | |||||||||||||||||||||||||||||||||||||||||||||
Capacity factors: | |||||||||||||||||||||||||||||||||||||||||||||||
CCGT facilities | 49.2 | % | 55.0 | % | 57.9 | % | 58.4 | % | 59.1 | % | 58.5 | % | |||||||||||||||||||||||||||||||||||
Lignite and coal facilities | 77.1 | % | 72.8 | % | 47.1 | % | 54.1 | % | |||||||||||||||||||||||||||||||||||||||
Nuclear facilities | 96.7 | % | 95.8 | % | |||||||||||||||||||||||||||||||||||||||||||
Weather - percent of normal (a): | |||||||||||||||||||||||||||||||||||||||||||||||
Cooling degree days | 98 | % | 99 | % | 105 | % | 103 | % | 130 | % | 104 | % | 102 | % | 110 | % | |||||||||||||||||||||||||||||||
Heating degree days | 85 | % | 111 | % | 92 | % | 101 | % | 95 | % | 105 | % | 89 | % | 99 | % |
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||||||||||||
Market pricing | Average Market On-Peak Power Prices ($MWh) (b): | |||||||||||||||||||||||||
Average ERCOT North power price ($/MWh) | $ | 21.46 | $ | 35.93 | PJM West Hub | $ | 24.55 | $ | 30.87 | |||||||||||||||||
AEP Dayton Hub | $ | 24.49 | $ | 31.02 | ||||||||||||||||||||||
Average NYMEX Henry Hub natural gas price ($/MMBtu) | $ | 1.99 | $ | 2.51 | NYISO Zone C | $ | 19.37 | $ | 25.90 | |||||||||||||||||
Massachusetts Hub | $ | 26.57 | $ | 34.89 | ||||||||||||||||||||||
Average natural gas price (a): | Indiana Hub | $ | 26.77 | $ | 31.23 | |||||||||||||||||||||
TetcoM3 ($/MMBtu) | $ | 1.59 | $ | 2.39 | Northern Illinois Hub | $ | 22.47 | $ | 28.16 | |||||||||||||||||
Algonquin Citygates ($/MMBtu) | $ | 2.00 | $ | 3.17 |
Year Ended December 31, 2020 Compared to 2019 | |||||||||||||||||||||||
Texas | East | West | Sunset | ||||||||||||||||||||
Favorable/(unfavorable) change in revenue net of fuel | $ | 390 | $ | (35) | $ | 18 | $ | (39) | |||||||||||||||
Favorable/(unfavorable) change in other operating costs | (20) | (15) | (3) | (4) | |||||||||||||||||||
Favorable/(unfavorable) change in SG&A expenses | (7) | (7) | (6) | (22) | |||||||||||||||||||
Other | (24) | (19) | 1 | (1) | |||||||||||||||||||
Change in Adjusted EBITDA | $ | 339 | $ | (76) | $ | 10 | $ | (66) | |||||||||||||||
Unfavorable change in depreciation and amortization | (5) | (41) | — | (13) | |||||||||||||||||||
Change in unrealized net gains/(losses) on commodity hedging activities | 100 | (211) | (51) | (241) | |||||||||||||||||||
Fresh start/purchase accounting impacts | 4 | (18) | (4) | (5) | |||||||||||||||||||
Transition and merger expenses | 9 | 8 | 1 | 22 | |||||||||||||||||||
Impairment of long-lived assets | — | — | — | (356) | |||||||||||||||||||
Generation plant retirement expenses | — | — | — | (31) | |||||||||||||||||||
Loss on disposal of investment in NELP | — | (29) | — | — | |||||||||||||||||||
Other (including interest and COVID-19 related expenses) | (29) | 8 | 6 | 2 | |||||||||||||||||||
Change in Net income | $ | 418 | $ | (359) | $ | (38) | $ | (688) |
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||
Texas | East | West | Sunset | ||||||||||||||||||||||||||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | ||||||||||||||||||||||||||||||||||||||||
Operating revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
Electricity sales | $ | 1,048 | $ | 1,162 | $ | 1,355 | $ | 990 | $ | 293 | $ | 193 | $ | 969 | $ | 769 | |||||||||||||||||||||||||||||||
Capacity revenue from ISO/RTO | — | — | 170 | 375 | — | 30 | 197 | 258 | |||||||||||||||||||||||||||||||||||||||
Sales to affiliates | 2,213 | 1,819 | 1,074 | 614 | — | — | 285 | 168 | |||||||||||||||||||||||||||||||||||||||
Rolloff of unrealized net gains (losses) representing positions settled in the current period | 371 | 404 | 59 | 3 | (10) | 20 | (74) | 60 | |||||||||||||||||||||||||||||||||||||||
Unrealized net gains (losses) on hedging activities | 72 | (689) | (44) | (43) | 51 | (35) | 249 | (87) | |||||||||||||||||||||||||||||||||||||||
Unrealized net gains (losses) on hedging activities with affiliates | 132 | (198) | 180 | (36) | — | — | (7) | 16 | |||||||||||||||||||||||||||||||||||||||
Other revenues | — | (1) | (4) | (8) | 4 | — | (17) | (1) | |||||||||||||||||||||||||||||||||||||||
Operating revenues | 3,836 | 2,497 | 2,790 | 1,895 | 338 | 208 | 1,602 | 1,183 | |||||||||||||||||||||||||||||||||||||||
Fuel, purchased power costs and delivery fees: | |||||||||||||||||||||||||||||||||||||||||||||||
Fuel for generation facilities and purchased power costs | (1,117) | (1,307) | (1,381) | (1,111) | (187) | (132) | (739) | (547) | |||||||||||||||||||||||||||||||||||||||
Fuel for generation facilities and purchased power costs from affiliates | — | — | (2) | (8) | — | — | 2 | 30 | |||||||||||||||||||||||||||||||||||||||
Unrealized (gains) losses from hedging activities | 16 | (15) | 1 | (5) | — | — | (22) | 19 | |||||||||||||||||||||||||||||||||||||||
Ancillary and other costs | (182) | (139) | (11) | (7) | — | (2) | (8) | (7) | |||||||||||||||||||||||||||||||||||||||
Fuel, purchased power costs and delivery fees | (1,283) | (1,461) | (1,393) | (1,131) | (187) | (134) | (767) | (505) | |||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 1,342 | $ | (88) | $ | 400 | $ | 18 | $ | 88 | $ | 34 | $ | 274 | $ | 242 | |||||||||||||||||||||||||||||||
Adjusted EBITDA | $ | 1,307 | $ | 912 | $ | 925 | $ | 680 | $ | 63 | $ | 65 | $ | 308 | $ | 341 | |||||||||||||||||||||||||||||||
Production volumes (GWh): | |||||||||||||||||||||||||||||||||||||||||||||||
Natural gas facilities | 39,433 | 35,790 | 55,555 | 41,036 | 5,228 | 3,664 | |||||||||||||||||||||||||||||||||||||||||
Lignite and coal facilities | 24,558 | 26,243 | 34,424 | 29,734 | |||||||||||||||||||||||||||||||||||||||||||
Nuclear facilities | 19,305 | 20,416 | |||||||||||||||||||||||||||||||||||||||||||||
Solar/Battery facilities | 439 | 344 | |||||||||||||||||||||||||||||||||||||||||||||
Capacity factors: | |||||||||||||||||||||||||||||||||||||||||||||||
CCGT facilities | 55.0 | % | 58.8 | % | 58.4 | % | 59.1 | % | 58.5 | % | 56.1 | % | |||||||||||||||||||||||||||||||||||
Lignite and coal facilities | 72.8 | % | 77.8 | % | 54.1 | % | 63.4 | % | |||||||||||||||||||||||||||||||||||||||
Nuclear facilities | 95.8 | % | 101.3 | % | |||||||||||||||||||||||||||||||||||||||||||
Weather - percent of normal (a): | |||||||||||||||||||||||||||||||||||||||||||||||
Cooling degree days | 99 | % | 100 | % | 103 | % | 120 | % | 105 | % | 105 | % | 110 | % | 134 | % | |||||||||||||||||||||||||||||||
Heating degree days | 111 | % | 113 | % | 101 | % | 103 | % | 105 | % | 86 | % | 99 | % | 97 | % |
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||||||||||||||||
Market pricing | Average Market On-Peak Power Prices ($MWh) (b): | |||||||||||||||||||||||||
Average ERCOT North power price ($/MWh) | $ | 35.93 | $ | 29.96 | PJM West Hub | $ | 30.87 | $ | 41.79 | |||||||||||||||||
AEP Dayton Hub | $ | 31.02 | $ | 40.47 | ||||||||||||||||||||||
Average NYMEX Henry Hub natural gas price ($/MMBtu) | $ | 2.51 | $ | 3.12 | NYISO Zone C | $ | 25.90 | $ | 37.03 | |||||||||||||||||
Massachusetts Hub | $ | 34.89 | $ | 50.11 | ||||||||||||||||||||||
Average natural gas price (a): | Indiana Hub | $ | 31.23 | $ | 39.01 | |||||||||||||||||||||
TetcoM3 ($/MMBtu) | $ | 2.39 | $ | 3.69 | Northern Illinois Hub | $ | 28.16 | $ | 34.46 | |||||||||||||||||
Algonquin Citygates ($/MMBtu) | $ | 3.17 | $ | 4.84 |
Year Ended December 31, 2019 Compared to 2018 | |||||||||||||||||||||||
Texas | East | West | Sunset | ||||||||||||||||||||
Favorable impact related to operations acquired in the Merger (a) | $ | — | $ | 268 | $ | 20 | $ | 84 | |||||||||||||||
Favorable/(unfavorable) change in revenue net of fuel | 421 | 10 | (11) | (159) | |||||||||||||||||||
Favorable/(unfavorable) change in other operating costs | (28) | (13) | (4) | 41 | |||||||||||||||||||
Favorable/(unfavorable) change in SG&A expenses | 9 | (11) | (7) | 1 | |||||||||||||||||||
Other | (7) | (9) | — | — | |||||||||||||||||||
Change in Adjusted EBITDA | $ | 395 | $ | 245 | $ | (2) | $ | (33) | |||||||||||||||
Unfavorable change in depreciation and amortization | (77) | (161) | (5) | (39) | |||||||||||||||||||
Change in unrealized net gains on commodity hedging activities | 1,089 | 277 | 56 | 138 | |||||||||||||||||||
Fresh start/purchase accounting impacts | — | 7 | 4 | (7) | |||||||||||||||||||
Transition and merger expenses | (2) | 7 | — | (13) | |||||||||||||||||||
Generation plant retirement expenses | — | — | — | (12) | |||||||||||||||||||
Impact of Odessa earnout buybacks | 18 | — | — | — | |||||||||||||||||||
Other (including interest) | 7 | 7 | 1 | (2) | |||||||||||||||||||
Change in Net income | $ | 1,430 | $ | 382 | $ | 54 | $ | 32 |
Year Ended December 31, |
Favorable (Unfavorable)
Change |
||||||||||||||||||||||||||||||||||
2020 | 2019 | ||||||||||||||||||||||||||||||||||
Operating revenues | $ | 3 | $ | 341 | $ | (338) | |||||||||||||||||||||||||||||
Fuel, purchased power costs and delivery fees | — | (267) | 267 | ||||||||||||||||||||||||||||||||
Operating costs | (63) | (138) | 75 | ||||||||||||||||||||||||||||||||
Depreciation and amortization | (22) | — | (22) | ||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | (27) | (43) | 16 | ||||||||||||||||||||||||||||||||
Operating loss | (109) | (107) | (2) | ||||||||||||||||||||||||||||||||
Other income | 10 | 3 | 7 | ||||||||||||||||||||||||||||||||
Other deductions | (2) | (5) | 3 | ||||||||||||||||||||||||||||||||
Net loss
|
$ | (101) | $ | (109) | $ | 8 | |||||||||||||||||||||||||||||
Adjusted EBITDA | $ | (81) | $ | (68) | $ | (13) | |||||||||||||||||||||||||||||
Production volumes (GWh) | — | 7,484 | (7,484) |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | ||||||||||||||||
Commodity contract net liability at beginning of period | $ | (279) | $ | (850) | |||||||||||||
Settlements/termination of positions (a) | (14) | 358 | |||||||||||||||
Changes in fair value of positions in the portfolio (b) | 245 | 338 | |||||||||||||||
Acquired commodity contracts (c) | — | (28) | |||||||||||||||
Other activity (d) | (27) | (97) | |||||||||||||||
Commodity contract net liability at end of period | $ | (75) | $ | (279) |
Maturity dates of unrealized commodity contract net liability at December 31, 2020 | ||||||||||||||||||||||||||||||||
Source of fair value |
Less than
1 year |
1-3 years | 4-5 years |
Excess of
5 years |
Total | |||||||||||||||||||||||||||
Prices actively quoted | $ | (41) | $ | (80) | $ | (5) | $ | — | $ | (126) | ||||||||||||||||||||||
Prices provided by other external sources | 30 | (2) | 1 | — | 29 | |||||||||||||||||||||||||||
Prices based on models | 107 | 23 | (43) | (65) | 22 | |||||||||||||||||||||||||||
Total | $ | 96 | $ | (59) | $ | (47) | $ | (65) | $ | (75) | ||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | ||||||||||||||||
Capital expenditures, including LTSA prepayments | $ | 770 | $ | 520 | |||||||||||||
Nuclear fuel purchases | 88 | 89 | |||||||||||||||
Growth and development expenditures | 401 | 104 | |||||||||||||||
Capital expenditures | 1,259 | $ | 713 |
December 31, 2020 | December 31, 2019 | Change | |||||||||||||||
Cash and cash equivalents | $ | 406 | $ | 300 | $ | 106 | |||||||||||
Vistra Operations Credit Facilities — Revolving Credit Facility | 1,988 | 1,426 | 562 | ||||||||||||||
Vistra Operations — Alternate Letter of Credit Facility | 5 | — | 5 | ||||||||||||||
Total available liquidity (a) | $ | 2,399 | $ | 1,726 | $ | 673 |
Year Ended
December 31, 2020 |
|||||
Revenues | $ | 10,954 | |||
Operating income | $ | 1,592 | |||
Net income | $ | 678 | |||
Net income attributable to Vistra | $ | 678 |
December 31, 2020 | December 31, 2020 | |||||||||||||
Current assets | $ | 2,404 | Current liabilities | $ | 1,828 | |||||||||
Noncurrent assets | 21,307 | Noncurrent liabilities | 13,599 | |||||||||||
Total assets | $ | 23,711 | Total liabilities | $ | 15,427 | |||||||||
Noncontrolling interest | $ | — |
Year Ended December 31, | |||||||||||
2020 | 2019 | ||||||||||
Month-end average VaR | $ | 234 | $ | 263 | |||||||
Month-end high VaR | $ | 361 | $ | 520 | |||||||
Month-end low VaR | $ | 164 | $ | 103 |
Expected Maturity Date |
2020
Total Carrying Amount |
2020
Total Fair Value |
2019
Total Carrying Amount |
2019
Total Fair Value |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2022 | 2023 | 2024 | 2025 | There-after | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt, including current maturities (a):
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Variable rate debt amount | $ | 28 | $ | 29 | $ | 28 | $ | 29 | $ | 2,458 | $ | — | $ | 2,572 | $ | 2,565 | $ | 2,700 | $ | 2,717 | |||||||||||||||||||||||||||||||||||||||
Average interest rate (b) | 1.90 | % | 1.90 | % | 1.90 | % | 1.90 | % | 1.90 | % | — | % | 1.90 | % | 3.55 | % | |||||||||||||||||||||||||||||||||||||||||||
Debt swapped to fixed (c):
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notional amount | $ | — | $ | — | $ | 2,300 | $ | — | $ | — | $ | 2,300 | $ | 4,600 | $ | 4,600 | |||||||||||||||||||||||||||||||||||||||||||
Average pay rate | 3.76 | % | 3.76 | % | 4.18 | % | 4.77 | % | 4.77 | % | 4.77 | % | |||||||||||||||||||||||||||||||||||||||||||||||
Average receive rate | 1.90 | % | 1.90 | % | 1.97 | % | 2.06 | % | 2.06 | % | 2.06 | % | |||||||||||||||||||||||||||||||||||||||||||||||
Exposure
Before Credit Collateral |
Credit
Collateral |
Net
Exposure |
|||||||||||||||||||||||||||||||||||||||
Investment grade | $ | 254 | $ | 5 | $ | 249 | |||||||||||||||||||||||||||||||||||
Below investment grade or no rating | 38 | 6 | 32 | ||||||||||||||||||||||||||||||||||||||
Totals
|
$ | 292 | $ | 11 | $ | 281 | |||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Operating revenues (Note 5) | $ | 11,443 | $ | 11,809 | $ | 9,144 | |||||||||||
Fuel, purchased power costs and delivery fees | (5,174) | (5,742) | (5,036) | ||||||||||||||
Operating costs | (1,622) | (1,530) | (1,297) | ||||||||||||||
Depreciation and amortization | (1,737) | (1,640) | (1,394) | ||||||||||||||
Selling, general and administrative expenses | (1,035) | (904) | (926) | ||||||||||||||
Impairment of long-lived assets | (356) | — | — | ||||||||||||||
Operating income | 1,519 | 1,993 | 491 | ||||||||||||||
Other income (Note 21) | 34 | 56 | 47 | ||||||||||||||
Other deductions (Note 21) | (42) | (15) | (5) | ||||||||||||||
Interest expense and related charges (Note 21) | (630) | (797) | (572) | ||||||||||||||
Impacts of Tax Receivable Agreement (Note 8) | 5 | (37) | (79) | ||||||||||||||
Equity in earnings of unconsolidated investment (Note 21) | 4 | 16 | 17 | ||||||||||||||
Income (loss) before income taxes | 890 | 1,216 | (101) | ||||||||||||||
Income tax (expense) benefit (Note 7) | (266) | (290) | 45 | ||||||||||||||
Net income (loss) | 624 | 926 | (56) | ||||||||||||||
Net loss attributable to noncontrolling interest | 12 | 2 | 2 | ||||||||||||||
Net income (loss) attributable to Vistra | $ | 636 | $ | 928 | $ | (54) | |||||||||||
Weighted average shares of common stock outstanding: | |||||||||||||||||
Basic
|
488,668,263 | 494,146,268 | 504,954,371 | ||||||||||||||
Diluted
|
491,090,468 | 499,935,490 | 504,954,371 | ||||||||||||||
Net income (loss) per weighted average share of common stock outstanding: | |||||||||||||||||
Basic | $ | 1.30 | $ | 1.88 | $ | (0.11) | |||||||||||
Diluted | $ | 1.30 | $ | 1.86 | $ | (0.11) |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Net income (loss) | $ | 624 | $ | 926 | $ | (56) | |||||||||||
Other comprehensive loss, net of tax effects: | |||||||||||||||||
Effects related to pension and other retirement benefit obligations (net of tax benefit of $5, $4 and $2)
|
(18) | (8) | (6) | ||||||||||||||
Adoption of new accounting standard | — | — | 1 | ||||||||||||||
Total other comprehensive loss | (18) | (8) | (5) | ||||||||||||||
Comprehensive income (loss) | 606 | 918 | (61) | ||||||||||||||
Comprehensive loss attributable to noncontrolling interest | 12 | 2 | 2 | ||||||||||||||
Comprehensive income (loss) attributable to Vistra | $ | 618 | $ | 920 | $ | (59) |
VISTRA CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Millions of Dollars) |
|||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Cash flows — operating activities: | |||||||||||||||||
Net income (loss) | $ | 624 | $ | 926 | $ | (56) | |||||||||||
Adjustments to reconcile net income (loss) to cash provided by operating activities: | |||||||||||||||||
Depreciation and amortization | 2,048 | 1,876 | 1,533 | ||||||||||||||
Deferred income tax expense (benefit), net | 230 | 281 | (62) | ||||||||||||||
Impairment of long-lived assets (Note 4) | 356 | — | — | ||||||||||||||
Loss on disposal of investment in NELP (Note 21) | 29 | — | — | ||||||||||||||
Unrealized net (gain) loss from mark-to-market valuations of commodities | (231) | (696) | 380 | ||||||||||||||
Unrealized net loss from mark-to-market valuations of interest rate swaps | 155 | 220 | 5 | ||||||||||||||
Change in asset retirement obligation liability | 7 | (48) | (27) | ||||||||||||||
Asset retirement obligation accretion expense | 43 | 53 | 50 | ||||||||||||||
Impacts of Tax Receivable Agreement (Note 8) | (5) | 37 | 79 | ||||||||||||||
Bad debt expense | 110 | 82 | 55 | ||||||||||||||
Stock-based compensation | 65 | 47 | 73 | ||||||||||||||
Other, net | (22) | (12) | 37 | ||||||||||||||
Changes in operating assets and liabilities: | |||||||||||||||||
Accounts receivable — trade | (33) | (88) | (207) | ||||||||||||||
Inventories | (59) | (44) | 61 | ||||||||||||||
Accounts payable — trade | (40) | (221) | 90 | ||||||||||||||
Commodity and other derivative contractual assets and liabilities | 27 | 98 | (80) | ||||||||||||||
Margin deposits, net | (20) | 170 | (221) | ||||||||||||||
Accrued interest | (20) | 80 | (105) | ||||||||||||||
Accrued taxes | 22 | (4) | (64) | ||||||||||||||
Accrued employee incentive | 39 | 1 | 40 | ||||||||||||||
Tax Receivable Agreement payment (Note 8) | — | (2) | (16) | ||||||||||||||
Asset retirement obligation settlement | (118) | (121) | (100) | ||||||||||||||
Major plant outage deferral | 2 | (19) | (22) | ||||||||||||||
Other — net assets | 219 | (22) | 73 | ||||||||||||||
Other — net liabilities | (91) | 142 | (45) | ||||||||||||||
Cash provided by operating activities | 3,337 | 2,736 | 1,471 | ||||||||||||||
Cash flows — investing activities: | |||||||||||||||||
Capital expenditures, including nuclear fuel purchases and LTSA prepayments | (1,259) | (713) | (530) | ||||||||||||||
Ambit acquisition (net of cash acquired) (Note 2) | — | (506) | — | ||||||||||||||
Crius acquisition (net of cash acquired) (Note 2) | — | (374) | — | ||||||||||||||
Cash acquired in the Merger (Note 2) | — | — | 445 | ||||||||||||||
Proceeds from sales of nuclear decommissioning trust fund securities (Note 21) | 433 | 431 | 252 | ||||||||||||||
Investments in nuclear decommissioning trust fund securities (Note 21) | (455) | (453) | (274) | ||||||||||||||
Proceeds from sales of environmental allowances | 165 | 197 | 1 | ||||||||||||||
Purchases of environmental allowances | (504) | (322) | (5) | ||||||||||||||
Proceeds from sales of assets | 24 | 6 | 7 |
VISTRA CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Millions of Dollars) |
|||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Other, net | 24 | 17 | 3 | ||||||||||||||
Cash used in investing activities | (1,572) | (1,717) | (101) | ||||||||||||||
Cash flows — financing activities: | |||||||||||||||||
Issuances of long-term debt (Note 11) | — | 6,507 | 1,000 | ||||||||||||||
Repayments/repurchases of debt (Note 11) | (1,008) | (7,109) | (3,075) | ||||||||||||||
Net borrowings/(payments) under accounts receivable securitization program (Note 10) | (150) | 111 | 339 | ||||||||||||||
Borrowings under Revolving Credit Facility (Note 11) | 1,075 | 650 | — | ||||||||||||||
Repayments under Revolving Credit Facility (Note 11) | (1,425) | (300) | — | ||||||||||||||
Debt tender offer and other debt financing fees (Note 11) | (17) | (203) | (236) | ||||||||||||||
Stock repurchase (Note 14) | — | (656) | (763) | ||||||||||||||
Dividends paid to stockholders (Note 14) | (266) | (243) | — | ||||||||||||||
Other, net | (5) | 6 | 12 | ||||||||||||||
Cash used in financing activities | (1,796) | (1,237) | (2,723) | ||||||||||||||
Net change in cash, cash equivalents and restricted cash | (31) | (218) | (1,353) | ||||||||||||||
Cash, cash equivalents and restricted cash — beginning balance | 475 | 693 | 2,046 | ||||||||||||||
Cash, cash equivalents and restricted cash — ending balance | $ | 444 | $ | 475 | $ | 693 |
VISTRA CORP.
CONSOLIDATED BALANCE SHEETS (Millions of Dollars) |
|||||||||||
December 31, | |||||||||||
2020 | 2019 | ||||||||||
ASSETS | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 406 | $ | 300 | |||||||
Restricted cash (Note 21) | 19 | 147 | |||||||||
Trade accounts receivable — net (Note 21) | 1,279 | 1,365 | |||||||||
Inventories (Note 21) | 515 | 469 | |||||||||
Commodity and other derivative contractual assets (Note 16) | 748 | 1,333 | |||||||||
Margin deposits related to commodity contracts | 257 | 202 | |||||||||
Prepaid expense and other current assets | 205 | 298 | |||||||||
Total current assets | 3,429 | 4,114 | |||||||||
Restricted cash (Note 21) | 19 | 28 | |||||||||
Investments (Note 21) | 1,759 | 1,537 | |||||||||
Investment in unconsolidated subsidiary (Note 21) | — | 124 | |||||||||
Operating lease right-of-use assets (Note 12) | 45 | 44 | |||||||||
Property, plant and equipment — net (Note 21) | 13,499 | 13,914 | |||||||||
Goodwill (Note 6) | 2,583 | 2,553 | |||||||||
Identifiable intangible assets — net (Note 6) | 2,446 | 2,748 | |||||||||
Commodity and other derivative contractual assets (Note 16) | 258 | 136 | |||||||||
Accumulated deferred income taxes (Note 7) | 838 | 1,066 | |||||||||
Other noncurrent assets | 332 | 352 | |||||||||
Total assets | $ | 25,208 | $ | 26,616 | |||||||
LIABILITIES AND EQUITY | |||||||||||
Current liabilities: | |||||||||||
Short-term borrowings (Note 11) | $ | — | $ | 350 | |||||||
Accounts receivable securitization program (Note 10) | 300 | 450 | |||||||||
Long-term debt due currently (Note 11) | 95 | 277 | |||||||||
Trade accounts payable | 880 | 947 | |||||||||
Commodity and other derivative contractual liabilities (Note 16) | 789 | 1,529 | |||||||||
Margin deposits related to commodity contracts | 33 | 8 | |||||||||
Accrued income taxes | 16 | 1 | |||||||||
Accrued taxes other than income | 210 | 200 | |||||||||
Accrued interest | 131 | 151 | |||||||||
Asset retirement obligations (Note 21) | 103 | 141 | |||||||||
Operating lease liabilities (Note 12) | 8 | 14 | |||||||||
Other current liabilities | 471 | 506 | |||||||||
Total current liabilities | 3,036 | 4,574 | |||||||||
Long-term debt, less amounts due currently (Note 11) | 9,235 | 10,102 | |||||||||
Operating lease liabilities (Note 12) | 40 | 41 | |||||||||
Commodity and other derivative contractual liabilities (Note 16) | 624 | 396 | |||||||||
Accumulated deferred income taxes (Note 7) | 1 | 2 | |||||||||
Tax Receivable Agreement obligation (Note 8) | 447 | 455 | |||||||||
Asset retirement obligations (Note 21) | 2,333 | 2,097 | |||||||||
Other noncurrent liabilities and deferred credits (Note 21) | 1,131 | 989 | |||||||||
Total liabilities | 16,847 | 18,656 |
VISTRA CORP.
CONSOLIDATED BALANCE SHEETS (Millions of Dollars) |
|||||||||||
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Commitments and Contingencies (Note 13) | |||||||||||
Total equity (Note 14): | |||||||||||
Common stock (par value — $0.01; number of shares authorized — 1,800,000,000)
(shares outstanding: December 31, 2020 — 489,305,888; December 31, 2019 — 487,698,111)
|
5 | 5 | |||||||||
Treasury stock, at cost (shares: December 31, 2020 — 41,043,224; December 31, 2019 — 41,043,224)
|
(973) | (973) | |||||||||
Additional paid-in-capital
|
9,786 | 9,721 | |||||||||
Retained deficit
|
(399) | (764) | |||||||||
Accumulated other comprehensive loss | (48) | (30) | |||||||||
Stockholders' equity
|
8,371 | 7,959 | |||||||||
Noncontrolling interest in subsidiary
|
(10) | 1 | |||||||||
Total equity
|
8,361 | 7,960 | |||||||||
Total liabilities and equity | $ | 25,208 | $ | 26,616 |
Common Stock | Treasury Stock | Additional Paid-In Capital | Retained Deficit | Accumulated Other Comprehensive Income (Loss) | Total Stockholders' Equity | Noncontrolling Interest in Subsidiary | Total Equity | ||||||||||||||||||||||||||||||||||||||||
Balances at December 31, 2017 | $ | 4 | $ | — | $ | 7,765 | $ | (1,410) | $ | (17) | $ | 6,342 | $ | — | $ | 6,342 | |||||||||||||||||||||||||||||||
Stock and stock compensation awards issued in connection with the Merger | 1 | — | 1,901 | — | — | 1,902 | — | 1,902 | |||||||||||||||||||||||||||||||||||||||
Stock repurchases | — | (778) | — | — | — | (778) | — | (778) | |||||||||||||||||||||||||||||||||||||||
Effects of stock-based compensation | — | — | 72 | — | — | 72 | — | 72 | |||||||||||||||||||||||||||||||||||||||
Tangible equity units acquired | — | — | 369 | — | — | 369 | — | 369 | |||||||||||||||||||||||||||||||||||||||
Warrants acquired | — | — | 2 | — | — | 2 | — | 2 | |||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | (54) | — | (54) | (2) | (56) | |||||||||||||||||||||||||||||||||||||||
Adoption of new accounting standards | — | — | — | 16 | 1 | 17 | — | 17 | |||||||||||||||||||||||||||||||||||||||
Pension and OPEB liability — change in funded status | — | — | — | — | (6) | (6) | — | (6) | |||||||||||||||||||||||||||||||||||||||
Investment by noncontrolling interest | — | — | — | — | — | — | 6 | 6 | |||||||||||||||||||||||||||||||||||||||
Other | — | — | (2) | (1) | — | (3) | — | (3) | |||||||||||||||||||||||||||||||||||||||
Balances at December 31, 2018 | $ | 5 | $ | (778) | $ | 10,107 | $ | (1,449) | $ | (22) | $ | 7,863 | $ | 4 | $ | 7,867 | |||||||||||||||||||||||||||||||
Stock repurchases | — | (641) | — | — | — | (641) | — | (641) | |||||||||||||||||||||||||||||||||||||||
Shares issued for tangible equity unit contracts | — | 446 | (446) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Effects of stock-based compensation | — | — | 62 | — | — | 62 | — | 62 | |||||||||||||||||||||||||||||||||||||||
Net income (loss) | — | — | — | 928 | — | 928 | (2) | 926 | |||||||||||||||||||||||||||||||||||||||
Dividends declared on common stock | — | — | — | (243) | — | (243) | — | (243) | |||||||||||||||||||||||||||||||||||||||
Adoption of new accounting standard | — | — | — | (2) | — | (2) | — | (2) | |||||||||||||||||||||||||||||||||||||||
Pension and OPEB liability — change in funded status | — | — | — | — | (8) | (8) | — | (8) | |||||||||||||||||||||||||||||||||||||||
Other | — | — | (2) | 2 | — | — | (1) | (1) | |||||||||||||||||||||||||||||||||||||||
Balances at December 31, 2019 | $ | 5 | $ | (973) | $ | 9,721 | $ | (764) | $ | (30) | $ | 7,959 | $ | 1 | $ | 7,960 | |||||||||||||||||||||||||||||||
Effects of stock-based compensation | — | — | 65 | — | — | 65 | — | 65 | |||||||||||||||||||||||||||||||||||||||
Net income (loss) | — | — | — | 636 | — | 636 | (12) | 624 | |||||||||||||||||||||||||||||||||||||||
Dividends declared on common stock | — | — | — | (266) | — | (266) | — | (266) | |||||||||||||||||||||||||||||||||||||||
Adoption of new accounting standard | — | — | — | (4) | — | (4) | — | (4) | |||||||||||||||||||||||||||||||||||||||
Pension and OPEB liability — change in funded status | — | — | — | — | (18) | (18) | — | (18) | |||||||||||||||||||||||||||||||||||||||
Investment by noncontrolling interest | — | 1 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | (1) | — | (1) | — | (1) | |||||||||||||||||||||||||||||||||||||||
Balances at December 31, 2020 | $ | 5 | $ | (973) | $ | 9,786 | $ | (399) | $ | (48) | $ | 8,371 | $ | (10) | $ | 8,361 |
Ambit Transaction and Crius Transactions Final Purchase Price Allocations | |||||||||||||||||||||||
Ambit Transaction | Crius Transaction | ||||||||||||||||||||||
Final
Purchase Price Allocation |
Measurement Period Adjustments recorded through September 30, 2020 |
Final
Purchase Price Allocation |
Measurement Period Adjustments recorded through June 30, 2020 | ||||||||||||||||||||
Cash and cash equivalents | $ | 49 | $ | — | $ | 26 | $ | — | |||||||||||||||
Net working capital | 32 | 3 | (9) | (42) | |||||||||||||||||||
Accumulated deferred income taxes | — | — | — | (36) | |||||||||||||||||||
Identifiable intangible assets | 218 | (45) | 317 | 23 | |||||||||||||||||||
Goodwill | 258 | 44 | 243 | 38 | |||||||||||||||||||
Commodity and other derivative contractual assets | 23 | — | 18 | — | |||||||||||||||||||
Other noncurrent assets | 13 | — | 17 | (3) | |||||||||||||||||||
Total assets acquired | 593 | 2 | 612 | (20) | |||||||||||||||||||
Identifiable intangible liabilities | — | — | 2 | (34) | |||||||||||||||||||
Long-term debt, including amounts due currently | — | — | 140 | — | |||||||||||||||||||
Commodity and other derivative contractual liabilities | 28 | — | 40 | — | |||||||||||||||||||
Accumulated deferred income taxes | — | — | 14 | 14 | |||||||||||||||||||
Other noncurrent liabilities and deferred credits | 10 | 2 | 16 | — | |||||||||||||||||||
Total liabilities assumed | 38 | 2 | 212 | (20) | |||||||||||||||||||
Identifiable net assets acquired | $ | 555 | $ | — | $ | 400 | $ | — |
Ambit Transaction | Crius Transaction | ||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | ||||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||||||||||
Revenues | $ | 12,931 | $ | 10,446 | $ | 12,373 | $ | 10,379 | |||||||||||||||
Net income (loss) (a) | $ | 949 | $ | (95) | $ | 876 | $ | (43) | |||||||||||||||
Net income (loss) attributable to Vistra | $ | 951 | $ | (93) | $ | 878 | $ | (41) | |||||||||||||||
Net income (loss) attributable to Vistra per weighted average share of common stock outstanding — basic | $ | 1.92 | $ | (0.18) | $ | 1.78 | $ | (0.08) | |||||||||||||||
Net income (loss) attributable to Vistra per weighted average share of common stock outstanding — diluted | $ | 1.90 | $ | (0.18) | $ | 1.76 | $ | (0.08) |
Dynegy shares outstanding as of April 9, 2018 (in millions) | 144.8 | ||||
Exchange Ratio | 0.652 | ||||
Vistra shares issued for Dynegy shares outstanding (in millions) | 94.4 | ||||
Opening price of Vistra common stock on April 9, 2018 | $ | 19.87 | |||
Purchase price for common stock | $ | 1,876 | |||
Fair value of equity component of tangible equity units | 369 | ||||
Fair value of outstanding stock compensation awards attributable to pre-combination service | 26 | ||||
Fair value of outstanding warrants | 2 | ||||
Total purchase price | $ | 2,273 |
Dynegy Merger Final Purchase Price Allocation | |||||
Cash and cash equivalents | $ | 445 | |||
Trade accounts receivables, inventories, prepaid expenses and other current assets | 853 | ||||
Property, plant and equipment | 10,535 | ||||
Accumulated deferred income taxes | 518 | ||||
Identifiable intangible assets | 351 | ||||
Goodwill | 175 | ||||
Other noncurrent assets | 419 | ||||
Total assets acquired | 13,296 | ||||
Trade accounts payable and other current liabilities | 733 | ||||
Commodity and other derivative contractual assets and liabilities, net | 422 | ||||
Asset retirement obligations, including amounts due currently | 475 | ||||
Long-term debt, including amounts due currently | 8,919 | ||||
Other noncurrent liabilities | 469 | ||||
Total liabilities assumed | 11,018 | ||||
Identifiable net assets acquired | 2,278 | ||||
Noncontrolling interest in subsidiary | 5 | ||||
Total purchase price | $ | 2,273 |
Year Ended December 31, 2018 | |||||||||||
Revenues | $ | 10,595 | |||||||||
Net loss | $ | (268) | |||||||||
Net loss attributable to Vistra | $ | (265) | |||||||||
Net loss attributable to Vistra per weighted average share of common stock outstanding — basic | $ | (0.52) | |||||||||
Net loss attributable to Vistra per weighted average share of common stock outstanding — diluted | $ | (0.52) |
Name | Location | ISO/RTO | Fuel Type | Net Generation Capacity (MW) |
Dates Units Retired or
Expected Retirement Date |
|||||||||||||||||||||||||||
Wharton | Boling, TX | ERCOT | Natural Gas | 83 | November 30, 2020 | |||||||||||||||||||||||||||
Trinidad | Trinidad, TX | ERCOT | Natural Gas | 244 | By April 30, 2021 | |||||||||||||||||||||||||||
Total | 327 |
Name | Location | ISO/RTO | Fuel Type | Net Generation Capacity (MW) | Expected Retirement Date (a) | |||||||||||||||||||||||||||
Baldwin | Baldwin, IL | MISO | Coal | 1,185 | By the end of 2025 | |||||||||||||||||||||||||||
Coleto Creek | Goliad, TX | ERCOT | Coal | 650 | By the end of 2027 | |||||||||||||||||||||||||||
Joppa | Joppa, IL | MISO | Coal | 802 | By the end of 2025 | |||||||||||||||||||||||||||
Joppa | Joppa, IL | MISO | Natural Gas | 221 | By the end of 2025 | |||||||||||||||||||||||||||
Kincaid | Kincaid, IL | PJM | Coal | 1,108 | By the end of 2027 | |||||||||||||||||||||||||||
Miami Fort | North Bend, OH | PJM | Coal | 1,020 | By the end of 2027 | |||||||||||||||||||||||||||
Newton | Newton, IL | MISO/PJM | Coal | 615 | By the end of 2027 | |||||||||||||||||||||||||||
Zimmer | Moscow, OH | PJM | Coal | 1,300 | By the end of 2027 | |||||||||||||||||||||||||||
Total | 6,901 |
Name | Location | ISO/RTO | Fuel Type | Net Generation Capacity (MW) |
Dates Units Retired or
Expected Retirement Date |
|||||||||||||||||||||||||||
Coffeen | Coffeen, IL | MISO | Coal | 915 | November 1, 2019 | |||||||||||||||||||||||||||
Duck Creek | Canton, IL | MISO | Coal | 425 | December 15, 2019 | |||||||||||||||||||||||||||
Havana | Havana, IL | MISO | Coal | 434 | November 1, 2019 | |||||||||||||||||||||||||||
Hennepin | Hennepin, IL | MISO | Coal | 294 | November 1, 2019 | |||||||||||||||||||||||||||
Edwards | Bartonville, IL | MISO | Coal | 585 | By the end of 2022 | |||||||||||||||||||||||||||
Total | 2,653 |
Name | Location | ISO/RTO | Fuel Type | Net Generation Capacity (MW) | Ownership Interest | Date Units Retired | ||||||||||||||||||||||||||||||||
Killen | Manchester, Ohio | PJM | Coal | 204 | 33% | May 31, 2018 | ||||||||||||||||||||||||||||||||
Stuart | Aberdeen, Ohio | PJM | Coal | 679 | 39% | May 24, 2018 | ||||||||||||||||||||||||||||||||
Total
|
883 |
Name | Location (all in the state of Texas) | ISO/RTO | Fuel Type | Installed Nameplate Generation Capacity (MW) | Date Units Retired | |||||||||||||||||||||||||||
Monticello | Titus County | ERCOT | Lignite/Coal | 1,880 | January 4, 2018 | |||||||||||||||||||||||||||
Sandow | Milam County | ERCOT | Lignite | 1,137 | January 11, 2018 | |||||||||||||||||||||||||||
Big Brown | Freestone County | ERCOT | Lignite/Coal | 1,150 | February 12, 2018 | |||||||||||||||||||||||||||
Total
|
4,167 |
Year Ended December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail | Texas | East | West | Sunset | Asset Closure | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||
Revenue from contracts with customers: | |||||||||||||||||||||||||||||||||||||||||||||||
Retail energy charge in ERCOT | $ | 5,813 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 5,813 | |||||||||||||||||||||||||||||||
Retail energy charge in Northeast/Midwest | 2,406 | — | — | — | — | — | — | 2,406 | |||||||||||||||||||||||||||||||||||||||
Wholesale generation revenue from ISO/RTO | — | 475 | 310 | 124 | 473 | 1 | — | 1,383 | |||||||||||||||||||||||||||||||||||||||
Capacity revenue from ISO/RTO (a) | — | — | (52) | — | 164 | — | — | 112 | |||||||||||||||||||||||||||||||||||||||
Revenue from other wholesale contracts | — | 226 | 668 | 54 | 187 | 1 | — | 1,136 | |||||||||||||||||||||||||||||||||||||||
Total revenue from contracts with customers | 8,219 | 701 | 926 | 178 | 824 | 2 | — | 10,850 | |||||||||||||||||||||||||||||||||||||||
Other revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
Intangible amortization | (5) | — | 2 | — | (21) | — | — | (24) | |||||||||||||||||||||||||||||||||||||||
Hedging and other revenues (b) | 56 | 416 | (108) | 101 | 151 | 1 | — | 617 | |||||||||||||||||||||||||||||||||||||||
Affiliate sales | — | 2,999 | 1,595 | 3 | 298 | — | (4,895) | — | |||||||||||||||||||||||||||||||||||||||
Total other revenues | 51 | 3,415 | 1,489 | 104 | 428 | 1 | (4,895) | 593 | |||||||||||||||||||||||||||||||||||||||
Total revenues | $ | 8,270 | $ | 4,116 | $ | 2,415 | $ | 282 | $ | 1,252 | $ | 3 | $ | (4,895) | $ | 11,443 |
Year Ended December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail | Texas | East | West | Sunset | Asset Closure | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||
Revenue from contracts with customers: | |||||||||||||||||||||||||||||||||||||||||||||||
Retail energy charge in ERCOT | $ | 4,983 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,983 | |||||||||||||||||||||||||||||||
Retail energy charge in Northeast/Midwest | 1,818 | — | — | — | — | — | — | 1,818 | |||||||||||||||||||||||||||||||||||||||
Wholesale generation revenue from ISO/RTO | — | 1,477 | 629 | 193 | 751 | 194 | — | 3,244 | |||||||||||||||||||||||||||||||||||||||
Capacity revenue from ISO/RTO | — | — | 170 | — | 197 | 11 | — | 378 | |||||||||||||||||||||||||||||||||||||||
Revenue from other wholesale contracts | — | 264 | 702 | 9 | 147 | 2 | — | 1,124 | |||||||||||||||||||||||||||||||||||||||
Total revenue from contracts with customers | 6,801 | 1,741 | 1,501 | 202 | 1,095 | 207 | — | 11,547 | |||||||||||||||||||||||||||||||||||||||
Other revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
Intangible amortization | (15) | — | (4) | 4 | (17) | — | — | (32) | |||||||||||||||||||||||||||||||||||||||
Hedging and other revenues (a) | 86 | (250) | 37 | 132 | 247 | 42 | — | 294 | |||||||||||||||||||||||||||||||||||||||
Affiliate sales | — | 2,345 | 1,256 | — | 277 | 92 | (3,970) | — | |||||||||||||||||||||||||||||||||||||||
Total other revenues | 71 | 2,095 | 1,289 | 136 | 507 | 134 | (3,970) | 262 | |||||||||||||||||||||||||||||||||||||||
Total revenues | $ | 6,872 | $ | 3,836 | $ | 2,790 | $ | 338 | $ | 1,602 | $ | 341 | $ | (3,970) | $ | 11,809 |
Year Ended December 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||
Retail | Texas | East | West | Sunset | Asset Closure | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||
Revenue from contracts with customers: | |||||||||||||||||||||||||||||||||||||||||||||||
Retail energy charge in ERCOT | $ | 4,426 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,426 | |||||||||||||||||||||||||||||||
Retail energy charge in Northeast/Midwest | 1,123 | — | — | — | — | — | — | 1,123 | |||||||||||||||||||||||||||||||||||||||
Wholesale generation revenue from ISO/RTO | — | 1,049 | 867 | 167 | 825 | 218 | — | 3,126 | |||||||||||||||||||||||||||||||||||||||
Capacity revenue from ISO/RTO | — | — | 376 | 30 | 258 | 34 | — | 698 | |||||||||||||||||||||||||||||||||||||||
Revenue from other wholesale contracts | — | 214 | 67 | 6 | 137 | — | — | 424 | |||||||||||||||||||||||||||||||||||||||
Total revenue from contracts with customers | 5,549 | 1,263 | 1,310 | 203 | 1,220 | 252 | — | 9,797 | |||||||||||||||||||||||||||||||||||||||
Other revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
Intangible amortization | (26) | (1) | (9) | — | (7) | — | — | (43) | |||||||||||||||||||||||||||||||||||||||
Hedging and other revenues (a) | 74 | (387) | 16 | 5 | (214) | (106) | 2 | (610) | |||||||||||||||||||||||||||||||||||||||
Affiliate sales | — | 1,622 | 578 | — | 184 | 225 | (2,609) | — | |||||||||||||||||||||||||||||||||||||||
Total other revenues | 48 | 1,234 | 585 | 5 | (37) | 119 | (2,607) | (653) | |||||||||||||||||||||||||||||||||||||||
Total revenues | $ | 5,597 | $ | 2,497 | $ | 1,895 | $ | 208 | $ | 1,183 | $ | 371 | $ | (2,607) | $ | 9,144 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Trade accounts receivable from contracts with customers — net | $ | 1,169 | $ | 1,246 | |||||||
Other trade accounts receivable — net | 110 | 119 | |||||||||
Total trade accounts receivable — net | $ | 1,279 | $ | 1,365 |
Balance at December 31, 2018 | $ | 2,068 | ||||||
Measurement period adjustments recorded in connection with the Merger | 14 | |||||||
Goodwill recorded in connection with the Crius Transaction | 257 | |||||||
Goodwill recorded in connection with the Ambit Transaction | 214 | |||||||
Balance at December 31, 2019 | 2,553 | |||||||
Measurement period adjustments recorded in connection with the Crius Transaction | (14) | |||||||
Measurement period adjustments recorded in connection with the Ambit Transaction | 44 | |||||||
Balance at December 31, 2020 | $ | 2,583 |
December 31, 2020 | December 31, 2019 | |||||||||||||||||||||||||||||||||||||
Identifiable Intangible Asset |
Gross
Carrying Amount |
Accumulated
Amortization |
Net |
Gross
Carrying Amount |
Accumulated
Amortization |
Net | ||||||||||||||||||||||||||||||||
Retail customer relationship | $ | 2,082 | $ | 1,434 | $ | 648 | $ | 2,078 | $ | 1,151 | $ | 927 | ||||||||||||||||||||||||||
Software and other technology-related assets | 414 | 186 | 228 | 341 | 125 | 216 | ||||||||||||||||||||||||||||||||
Retail and wholesale contracts | 272 | 204 | 68 | 315 | 182 | 133 | ||||||||||||||||||||||||||||||||
Contractual service agreements (a) | 51 | 1 | 50 | 59 | 5 | 54 | ||||||||||||||||||||||||||||||||
Other identifiable intangible assets (b) | 96 | 19 | 77 | 40 | 15 | 25 | ||||||||||||||||||||||||||||||||
Total identifiable intangible assets subject to amortization | $ | 2,915 | $ | 1,844 | 1,071 | $ | 2,833 | $ | 1,478 | 1,355 | ||||||||||||||||||||||||||||
Retail trade names (not subject to amortization) | 1,374 | 1,391 | ||||||||||||||||||||||||||||||||||||
Mineral interests (not currently subject to amortization) | 1 | 2 | ||||||||||||||||||||||||||||||||||||
Total identifiable intangible assets | $ | 2,446 | $ | 2,748 |
Year Ended December 31, | ||||||||||||||
Identifiable Intangible Liability | 2020 | 2019 | ||||||||||||
Contractual service agreements
|
$ | 129 | $ | 110 | ||||||||||
Purchase and sale of power and capacity
|
87 | 100 | ||||||||||||
Fuel and transportation purchase contracts | 73 | 76 | ||||||||||||
Total identifiable intangible liabilities | $ | 289 | $ | 286 |
Year | Estimated Amortization Expense | |||||||
2021 | $ | 276 | ||||||
2022 | $ | 183 | ||||||
2023 | $ | 128 | ||||||
2024 | $ | 78 | ||||||
2025 | $ | 54 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Current: | |||||||||||||||||
U.S. Federal | $ | (5) | $ | (1) | $ | (13) | |||||||||||
State | 41 | 10 | 30 | ||||||||||||||
Total current | 36 | 9 | 17 | ||||||||||||||
Deferred: | |||||||||||||||||
U.S. Federal | 171 | 260 | (8) | ||||||||||||||
State | 59 | 21 | (54) | ||||||||||||||
Total deferred | 230 | 281 | (62) | ||||||||||||||
Total | $ | 266 | $ | 290 | $ | (45) |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Income (loss) before income taxes | $ | 890 | $ | 1,216 | $ | (101) | |||||||||||
U.S. federal statutory rate | 21 | % | 21 | % | 21 | % | |||||||||||
Income taxes at the U.S. federal statutory rate | 187 | 255 | (20) | ||||||||||||||
Nondeductible TRA accretion | (7) | 5 | 8 | ||||||||||||||
State tax, net of federal benefit | 32 | 48 | 22 | ||||||||||||||
Federal and State return to provision adjustment | 13 | (17) | (12) | ||||||||||||||
Remeasurement of historical Vistra deferred taxes for expanded state footprint | — | — | (54) | ||||||||||||||
Effect of refundable minimum tax credits no longer subject to sequestration | — | — | (15) | ||||||||||||||
Nondeductible compensation | — | 3 | 8 | ||||||||||||||
Nondeductible transaction costs | — | 2 | 3 | ||||||||||||||
Equity awards | — | (4) | (3) | ||||||||||||||
Valuation allowance on state NOLs | 41 | 13 | 20 | ||||||||||||||
Lignite depletion | (3) | (6) | — | ||||||||||||||
Texas gross margin amended return | — | (3) | — | ||||||||||||||
Other | 3 | (6) | (2) | ||||||||||||||
Income tax expense (benefit) | $ | 266 | $ | 290 | $ | (45) | |||||||||||
Effective tax rate | 29.9 | % | 23.8 | % | 44.6 | % |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Noncurrent Deferred Income Tax Assets | |||||||||||
Tax credit carryforwards | $ | 75 | $ | 73 | |||||||
Loss carryforwards | 953 | 921 | |||||||||
Identifiable intangible assets | 293 | 214 | |||||||||
Long-term debt | 19 | 257 | |||||||||
Employee benefit obligations | 129 | 112 | |||||||||
Commodity contracts and interest rate swaps | 96 | 108 | |||||||||
Other | 47 | 43 | |||||||||
Total deferred tax assets | $ | 1,612 | $ | 1,728 | |||||||
Noncurrent Deferred Income Tax Liabilities | |||||||||||
Property, plant and equipment | 632 | 554 | |||||||||
Total deferred tax liabilities | 632 | 554 | |||||||||
Valuation allowance | 143 | 110 | |||||||||
Net Deferred Income Tax Asset | $ | 837 | $ | 1,064 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Balance at beginning of period, excluding interest and penalties | $ | 126 | $ | 39 | $ | — | |||||||||||
Additions allocated in the Merger | — | — | 39 | ||||||||||||||
Additions based on tax positions related to prior years | 3 | 3 | — | ||||||||||||||
Reductions based on tax positions related to prior years | (90) | — | — | ||||||||||||||
Additions based on tax positions related to the current year | — | 87 | — | ||||||||||||||
Settlements with taxing authorities | — | (3) | — | ||||||||||||||
Balance at end of period, excluding interest and penalties | $ | 39 | $ | 126 | $ | 39 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
TRA obligation at the beginning of the period | $ | 455 | $ | 420 | $ | 357 | |||||||||||
Accretion expense | 64 | 59 | 65 | ||||||||||||||
Changes in tax assumptions impacting timing of payments (a) | (69) | (22) | 14 | ||||||||||||||
Impacts of Tax Receivable Agreement | (5) | 37 | 79 | ||||||||||||||
Payments | — | (2) | (16) | ||||||||||||||
TRA obligation at the end of the period | 450 | 455 | 420 | ||||||||||||||
Less amounts due currently | (3) | — | — | ||||||||||||||
Noncurrent TRA obligation at the end of the period | $ | 447 | $ | 455 | $ | 420 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Net income (loss) attributable to common stock — basic | $ | 636 | $ | 928 | $ | (54) | |||||||||||
Weighted average shares of common stock outstanding — basic | 488,668,263 | 494,146,268 | 504,954,371 | ||||||||||||||
Net income (loss) per weighted average share of common stock outstanding — basic | $ | 1.30 | $ | 1.88 | $ | (0.11) | |||||||||||
Dilutive securities: Stock-based incentive compensation plan | 2,422,205 | 5,789,223 | — | ||||||||||||||
Weighted average shares of common stock outstanding — diluted | 491,090,468 | 499,935,490 | 504,954,371 | ||||||||||||||
Net income (loss) per weighted average share of common stock outstanding — diluted | $ | 1.30 | $ | 1.86 | $ | (0.11) |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Vistra Operations Credit Facilities | $ | 2,572 | $ | 2,700 | |||||||
Vistra Operations Senior Secured Notes: | |||||||||||
3.550% Senior Secured Notes, due July 15, 2024
|
1,500 | 1,500 | |||||||||
3.700% Senior Secured Notes, due January 30, 2027
|
800 | 800 | |||||||||
4.300% Senior Secured Notes, due July 15, 2029
|
800 | 800 | |||||||||
Total Vistra Operations Senior Secured Notes | 3,100 | 3,100 | |||||||||
Vistra Operations Senior Unsecured Notes: | |||||||||||
5.500% Senior Unsecured Notes, due September 1, 2026
|
1,000 | 1,000 | |||||||||
5.625% Senior Unsecured Notes, due February 15, 2027
|
1,300 | 1,300 | |||||||||
5.000% Senior Unsecured Notes, due July 31, 2027
|
1,300 | 1,300 | |||||||||
Total Vistra Operations Senior Unsecured Notes | 3,600 | 3,600 | |||||||||
Vistra Senior Unsecured Notes: | |||||||||||
5.875% Senior Unsecured Notes, due June 1, 2023
|
— | 500 | |||||||||
8.000% Senior Unsecured Notes, due January 15, 2025
|
— | 81 | |||||||||
8.125% Senior Unsecured Notes, due January 30, 2026
|
— | 166 | |||||||||
Total Vistra Senior Unsecured Notes | — | 747 | |||||||||
Other: | |||||||||||
Forward Capacity Agreements | 45 | 161 | |||||||||
Equipment Financing Agreements | 68 | 99 | |||||||||
8.82% Building Financing due semiannually through February 11, 2022 (a)
|
10 | 15 | |||||||||
Other | 3 | 12 | |||||||||
Total other long-term debt | 126 | 287 | |||||||||
Unamortized debt premiums, discounts and issuance costs (b) | (68) | (55) | |||||||||
Total long-term debt including amounts due currently | 9,330 | 10,379 | |||||||||
Less amounts due currently | (95) | (277) | |||||||||
Total long-term debt less amounts due currently | $ | 9,235 | $ | 10,102 |
December 31, 2020 | ||||||||||||||||||||||||||||||||
Vistra Operations Credit Facilities | Maturity Date |
Facility
Limit |
Cash
Borrowings |
Letters of Credit Outstanding |
Available
Capacity |
|||||||||||||||||||||||||||
Revolving Credit Facility (a) | June 14, 2023 | $ | 2,725 | $ | — | $ | 737 | $ | 1,988 | |||||||||||||||||||||||
Term Loan B-3 Facility (b) | December 31, 2025 | 2,572 | 2,572 | — | ||||||||||||||||||||||||||||
Total Vistra Operations Credit Facilities | $ | 5,297 | $ | 2,572 | $ | 737 | $ | 1,988 |
Notional Amount | Expiration Date | Rate Range | ||||||||||||||||||||||||
Swapped to fixed | $3,000 | July 2023 | 3.67 | % | - | 3.91% | ||||||||||||||||||||
Swapped to variable | $700 | July 2023 | 3.20 | % | - | 3.23% | ||||||||||||||||||||
Swapped to fixed (a) | $720 | February 2024 | 3.71 | % | - | 3.72% | ||||||||||||||||||||
Swapped to variable | $720 | February 2024 | 3.20 | % | - | 3.20% | ||||||||||||||||||||
Swapped to fixed (b) | $3,000 | July 2026 | 4.72 | % | - | 4.79% | ||||||||||||||||||||
Swapped to variable (b) | $700 | July 2026 | 3.28 | % | - | 3.33% |
Senior Secured Notes | Maturity Year |
Interest Terms
(Due Semiannually in Arrears) |
June 2019
Senior Secured Notes Offering (a) |
November 2019 Senior Secured Notes Offering (b) | ||||||||||||||||||||||
3.550% Senior Secured Notes
|
2024 | January 15 and July 15 | $ | 1,200 | $ | 300 | ||||||||||||||||||||
3.700% Senior Secured Notes
|
2027 | January 30 and July 30 | — | 800 | ||||||||||||||||||||||
4.300% Senior Secured Notes
|
2029 | January 15 and July 15 | 800 | — | ||||||||||||||||||||||
Total senior secured notes | $ | 2,000 | $ | 1,100 | ||||||||||||||||||||||
Net proceeds | $ | 1,976 | $ | 1,099 | ||||||||||||||||||||||
Debt issuance and other fees (c) | $ | 20 | $ | 10 |
Senior Unsecured Notes | Maturity Year |
Interest Terms
(Due Semiannually in Arrears) |
August 2018 Senior Unsecured Notes Offering (a) | February 2019 Senior Unsecured Notes Offering (b) |
June 2019
Senior Unsecured Notes Offering (c) |
|||||||||||||||||||||||||||
5.500% Senior Unsecured Notes
|
2026 | March 1 and September 1 | $ | 1,000 | $ | — | $ | — | ||||||||||||||||||||||||
5.625% Senior Unsecured Notes
|
2027 | February 15 and August 15 | — | 1,300 | — | |||||||||||||||||||||||||||
5.000% Senior Unsecured Notes
|
2027 | January 31 and July 31 | — | — | 1,300 | |||||||||||||||||||||||||||
Total | $ | 1,000 | $ | 1,300 | $ | 1,300 | ||||||||||||||||||||||||||
Net Proceeds | $ | 990 | $ | 1,287 | $ | 1,287 | ||||||||||||||||||||||||||
Debt issuance and other fees (d) | $ | 12 | $ | 16 | $ | 13 |
Vistra Senior Unsecured Notes | Maturity Year | 2018 Redemptions/Repurchases (a) |
August
2018 Tender Offer (b) |
February 2019 Tender Offer (c) |
June
2019 Tender Offer (d) |
2019 Redemptions (e) | 2020 Redemptions (f) | |||||||||||||||||||||||||||||||||||||
6.750%Senior Unsecured Notes
|
2019 | $ | 850 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
7.375% Senior Unsecured Notes
|
2022 | 43 | — | 1,193 | 173 | 341 | — | |||||||||||||||||||||||||||||||||||||
5.875% Senior Unsecured Notes
|
2023 | — | — | — | — | — | 500 | |||||||||||||||||||||||||||||||||||||
7.625% Senior Unsecured Notes
|
2024 | 77 | 26 | — | 672 | 475 | — | |||||||||||||||||||||||||||||||||||||
8.034% Senior Unsecured Notes
|
2024 | — | 163 | — | — | 25 | — | |||||||||||||||||||||||||||||||||||||
8.000% Senior Unsecured Notes
|
2025 | — | 669 | — | — | — | 81 | |||||||||||||||||||||||||||||||||||||
8.125%Senior Unsecured Notes
|
2026 | — | 684 | — | — | — | 166 | |||||||||||||||||||||||||||||||||||||
Total | $ | 970 | $ | 1,542 | $ | 1,193 | $ | 845 | $ | 841 | $ | 747 | ||||||||||||||||||||||||||||||||
Extinguishment gain/(loss) | $ | — | $ | (27) | $ | 7 | $ | 7 | $ | 11 | $ | 11 |
December 31, 2020 | |||||
2021 | $ | 98 | |||
2022 | 44 | ||||
2023 | 40 | ||||
2024 | 1,540 | ||||
2025 | 2,470 | ||||
Thereafter | 5,206 | ||||
Unamortized premiums, discounts and debt issuance costs | (68) | ||||
Total long-term debt, including amounts due currently | $ | 9,330 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | ||||||||||||||||
Operating lease cost | $ | 14 | $ | 14 | |||||||||||||
Finance lease: | |||||||||||||||||
Finance lease right-of-use asset amortization | 7 | 4 | |||||||||||||||
Interest on lease liabilities | 7 | 4 | |||||||||||||||
Total finance lease cost | 14 | 8 | |||||||||||||||
Variable lease cost (a) | 29 | 26 | |||||||||||||||
Short-term lease cost | 31 | 19 | |||||||||||||||
Sublease income (b) | (8) | (8) | |||||||||||||||
Net lease cost | $ | 80 | $ | 59 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Lease assets: | |||||||||||
Operating lease right-of-use assets | $ | 45 | $ | 44 | |||||||
Finance lease right-of-use assets (net of accumulated depreciation) | 182 | $ | 59 | ||||||||
Total lease right-of-use assets | 227 | 103 | |||||||||
Current lease liabilities: | |||||||||||
Operating lease liabilities | 8 | 14 | |||||||||
Finance lease liabilities | 8 | 8 | |||||||||
Total current lease liabilities | 16 | 22 | |||||||||
Noncurrent lease liabilities: | |||||||||||
Operating lease liabilities | 40 | 41 | |||||||||
Finance lease liabilities | 206 | 78 | |||||||||
Total noncurrent lease liabilities | 246 | 119 | |||||||||
Total lease liabilities | $ | 262 | $ | 141 |
Year Ended December 31, | |||||||||||
2020 | 2019 | ||||||||||
Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||
Operating cash flows from operating leases | $ | 17 | $ | 17 | |||||||
Operating cash flows from finance leases | 5 | 4 | |||||||||
Finance cash flows from finance leases | 10 | 4 | |||||||||
Non-cash disclosure upon commencement of new lease: | |||||||||||
Right-of-use assets obtained in exchange for new operating lease liabilities | 14 | 95 | |||||||||
Right-of-use assets obtained in exchange for new finance lease liabilities | 108 | 13 | |||||||||
Non-cash disclosure upon modification of existing lease: | |||||||||||
Modification of operating lease right-of-use assets | (1) | (41) | |||||||||
Modification of finance lease right-of-use assets | 23 | 50 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Weighted average remaining lease term: | |||||||||||
Operating lease | 12.3 years | 7.5 years | |||||||||
Finance lease | 24.2 years | 16.2 years | |||||||||
Weighted average discount rate: | |||||||||||
Operating lease | 5.80% | 5.34 | % | ||||||||
Finance lease | 4.92% | 5.84 | % |
Operating Lease | Finance Lease | Total Lease | |||||||||||||||
2021 | $ | 11 | $ | 14 | $ | 25 | |||||||||||
2022 | 8 | 20 | 28 | ||||||||||||||
2023 | 9 | 19 | 28 | ||||||||||||||
2024 | 5 | 19 | 24 | ||||||||||||||
2025 | 3 | 19 | 22 | ||||||||||||||
Thereafter | 41 | 385 | 426 | ||||||||||||||
Total lease payments | 77 | 476 | 553 | ||||||||||||||
Less: Interest | (29) | (262) | (291) | ||||||||||||||
Present value of lease liabilities | $ | 48 | $ | 214 | $ | 262 |
Long-Term Service and Maintenance Contracts |
Coal purchase and
transportation agreements |
Pipeline transportation and storage reservation fees |
Nuclear
Fuel Contracts |
Other
Contracts |
|||||||||||||||||||||||||
2021 | $ | 165 | $ | 516 | $ | 100 | $ | 92 | $ | 256 | |||||||||||||||||||
2022 | 186 | 47 | 73 | 43 | 49 | ||||||||||||||||||||||||
2023 | 137 | 34 | 49 | 57 | 29 | ||||||||||||||||||||||||
2024 | 142 | 36 | 36 | 40 | 24 | ||||||||||||||||||||||||
2025 | 170 | 37 | 30 | 36 | 11 | ||||||||||||||||||||||||
Thereafter | 1,824 | 79 | 111 | 107 | 80 | ||||||||||||||||||||||||
Total | $ | 2,624 | $ | 749 | $ | 399 | $ | 375 | $ | 449 |
Shares
Issued |
Treasury
Shares |
Shares Outstanding | |||||||||||||||
Balance at December 31, 2017 | 428,398,802 | — | 428,398,802 | ||||||||||||||
Shares issued (a) (b) | 97,639,105 | — | 97,639,105 | ||||||||||||||
Shares retired | (6,815) | — | (6,815) | ||||||||||||||
Shares repurchased | — | (32,815,783) | (32,815,783) | ||||||||||||||
Balance at December 31, 2018 | 526,031,092 | (32,815,783) | 493,215,309 | ||||||||||||||
Shares issued (a) (c) | 2,716,349 | 18,773,958 | 21,490,307 | ||||||||||||||
Shares retired | (6,106) | — | (6,106) | ||||||||||||||
Shares repurchased | — | (27,001,399) | (27,001,399) | ||||||||||||||
Balance at December 31, 2019 | 528,741,335 | (41,043,224) | 487,698,111 | ||||||||||||||
Shares issued (a) | 1,611,462 | — | 1,611,462 | ||||||||||||||
Shares retired | (3,685) | — | (3,685) | ||||||||||||||
Balance at December 31, 2020 | 530,349,112 | (41,043,224) | 489,305,888 |
$500 Million Board Authorization | $1.250 Billion Board Authorization | ||||||||||||||||||||||||||||||||||
Total Number of Shares Repurchased | Average Price Paid Share | Amount Paid for Shares Repurchased | Total Number of Shares Repurchased | Average Price Paid Share | Amount Paid for Shares Repurchased | ||||||||||||||||||||||||||||||
Year Ended December 31, 2018 | 21,421,925 | $ | 23.36 | $ | 500 | 12,073,091 | $ | 22.99 | $ | 278 | |||||||||||||||||||||||||
Year Ended December 31, 2019 | — | $ | — | $ | — | 26,322,166 | $ | 24.34 | $ | 640 | |||||||||||||||||||||||||
Year Ended December 31, 2020 | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Totals | 21,421,925 | $ | 23.36 | $ | 500 | 38,395,257 | $ | 23.91 | $ | 918 |
December 31, 2020 | December 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Level
1 |
Level
2 |
Level
3 (a) |
Reclass (b) | Total |
Level
1 |
Level
2 |
Level
3 (a) |
Reclass (b) | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity contracts | $ | 452 | $ | 201 | $ | 205 | $ | 76 | $ | 934 | $ | 1,047 | $ | 172 | $ | 239 | $ | 11 | $ | 1,469 | |||||||||||||||||||||||||||||||||||||||
Interest rate swaps | — | 72 | — | — | 72 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Nuclear decommissioning trust – equity securities (c) | 623 | — | — | — | 623 | 564 | — | — | — | 564 | |||||||||||||||||||||||||||||||||||||||||||||||||
Nuclear decommissioning trust – debt securities (c) | — | 618 | — | — | 618 | — | 521 | — | — | 521 | |||||||||||||||||||||||||||||||||||||||||||||||||
Sub-total | $ | 1,075 | $ | 891 | $ | 205 | $ | 76 | 2,247 | $ | 1,611 | $ | 693 | $ | 239 | $ | 11 | 2,554 | |||||||||||||||||||||||||||||||||||||||||
Assets measured at net asset value (d): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nuclear decommissioning trust – equity securities (c) | 433 | 366 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 2,680 | $ | 2,920 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity contracts | $ | 578 | $ | 172 | $ | 183 | $ | 76 | $ | 1,009 | $ | 985 | $ | 439 | $ | 313 | $ | 11 | $ | 1,748 | |||||||||||||||||||||||||||||||||||||||
Interest rate swaps | — | 404 | — | — | 404 | — | 177 | — | — | 177 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | $ | 578 | $ | 576 | $ | 183 | $ | 76 | $ | 1,413 | $ | 985 | $ | 616 | $ | 313 | $ | 11 | $ | 1,925 |
December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||
Contract Type (a) | Assets | Liabilities | Total | Valuation Technique | Significant Unobservable Input | Range (b) | Average (b) | |||||||||||||||||||||||||||||||||||||||||||
Electricity purchases and sales | $ | 61 | $ | (90) | $ | (29) | Income Approach | Hourly price curve shape (c) | $ | — | to | $ | 85 | $ | 43 | |||||||||||||||||||||||||||||||||||
MWh | ||||||||||||||||||||||||||||||||||||||||||||||||||
Illiquid delivery periods for hub power prices and heat rates (d) | $ | 25 | to | $ | 125 | $ | 75 | |||||||||||||||||||||||||||||||||||||||||||
MWh | ||||||||||||||||||||||||||||||||||||||||||||||||||
Options | 38 | (56) | (18) | Option Pricing Model | Gas to power correlation (e) | 30 | % | to | 100 | % | 64 | % | ||||||||||||||||||||||||||||||||||||||
Power and gas volatility (e) | 5 | % | to | 665 | % | 336 | % | |||||||||||||||||||||||||||||||||||||||||||
Financial transmission rights | 92 | (16) | 76 | Market Approach (f) | Illiquid price differences between settlement points (g) | $ | (5) | to | $ | 50 | $ | 22 | ||||||||||||||||||||||||||||||||||||||
MWh | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other (h) | 14 | (21) | (7) | |||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 205 | $ | (183) | $ | 22 |
December 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||
Contract Type (a) | Assets | Liabilities | Total | Valuation Technique | Significant Unobservable Input | Range (b) | Average (b) | |||||||||||||||||||||||||||||||||||||||||||
Electricity purchases and sales | $ | 64 | $ | (53) | $ | 11 | Income Approach | Hourly price curve shape (c) | $ | — | to | $ | 115 | $ | 58 | |||||||||||||||||||||||||||||||||||
MWh | ||||||||||||||||||||||||||||||||||||||||||||||||||
Illiquid delivery periods for ERCOT hub power prices and heat rates (d) | $ | 20 | to | $ | 120 | $ | 70 | |||||||||||||||||||||||||||||||||||||||||||
MWh | ||||||||||||||||||||||||||||||||||||||||||||||||||
Options | 38 | (188) | (150) | Option Pricing Model | Gas to power correlation (e) | 10 | % | to | 100 | % | 55 | % | ||||||||||||||||||||||||||||||||||||||
Power and gas volatility (e) | 5 | % | to | 440 | % | 223 | % | |||||||||||||||||||||||||||||||||||||||||||
Financial transmission rights | 120 | (26) | 94 | Market Approach (f) | Illiquid price differences between settlement points (g) | $ | (10) | to | $ | 40 | $ | 15 | ||||||||||||||||||||||||||||||||||||||
MWh | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other (h) | 17 | (46) | (29) | |||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 239 | $ | (313) | $ | (74) |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Net liability balance at beginning of period | $ | (74) | $ | (135) | $ | (53) | |||||||||||
Total unrealized valuation gains (losses) | (5) | 8 | (363) | ||||||||||||||
Purchases, issuances and settlements (a): | |||||||||||||||||
Purchases | 164 | 176 | 146 | ||||||||||||||
Issuances | (28) | (81) | (41) | ||||||||||||||
Settlements | (90) | (64) | 76 | ||||||||||||||
Transfers into Level 3 (b) | (2) | 10 | 4 | ||||||||||||||
Transfers out of Level 3 (b) | 57 | 12 | 133 | ||||||||||||||
Net liabilities assumed in connection with the Merger | — | — | (37) | ||||||||||||||
Net change (c) | 96 | 61 | (82) | ||||||||||||||
Net asset (liability) balance at end of period | $ | 22 | $ | (74) | $ | (135) | |||||||||||
Unrealized valuation gains (losses) relating to instruments held at end of period | $ | 18 | $ | (61) | $ | (174) |
December 31, 2020 | |||||||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||||||
Commodity Contracts | Interest Rate Swaps | Commodity Contracts | Interest Rate Swaps | Total | |||||||||||||||||||||||||
Current assets | $ | 665 | $ | 19 | $ | 64 | $ | — | $ | 748 | |||||||||||||||||||
Noncurrent assets | 197 | 53 | 8 | — | 258 | ||||||||||||||||||||||||
Current liabilities | (1) | — | (717) | (71) | (789) | ||||||||||||||||||||||||
Noncurrent liabilities | (3) | — | (288) | (333) | (624) | ||||||||||||||||||||||||
Net assets (liabilities) | $ | 858 | $ | 72 | $ | (933) | $ | (404) | $ | (407) |
December 31, 2019 | |||||||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||||||
Commodity Contracts | Interest Rate Swaps | Commodity Contracts | Interest Rate Swaps | Total | |||||||||||||||||||||||||
Current assets | $ | 1,323 | $ | — | $ | 10 | $ | — | $ | 1,333 | |||||||||||||||||||
Noncurrent assets | 136 | — | — | — | 136 | ||||||||||||||||||||||||
Current liabilities | (1) | — | (1,510) | (18) | (1,529) | ||||||||||||||||||||||||
Noncurrent liabilities | — | — | (237) | (159) | (396) | ||||||||||||||||||||||||
Net assets (liabilities) | $ | 1,458 | $ | — | $ | (1,737) | $ | (177) | $ | (456) |
Year Ended December 31, | |||||||||||||||||
Derivative (consolidated statements of operations presentation) | 2020 | 2019 | 2018 | ||||||||||||||
Commodity contracts (Operating revenues) | $ | 241 | $ | 339 | $ | (855) | |||||||||||
Commodity contracts (Fuel, purchased power costs and delivery fees) | 4 | (1) | 18 | ||||||||||||||
Interest rate swaps (Interest expense and related charges) | (196) | (217) | (11) | ||||||||||||||
Net gain (loss) | $ | 49 | $ | 121 | $ | (848) |
December 31, 2020 | December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Assets
and Liabilities |
Offsetting Instruments (a) | Cash Collateral (Received) Pledged (b) | Net Amounts |
Derivative Assets
and Liabilities |
Offsetting Instruments (a) | Cash Collateral (Received) Pledged (b) | Net Amounts | |||||||||||||||||||||||||||||||||||||||||||
Derivative assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity contracts | $ | 858 | $ | (667) | $ | (11) | $ | 180 | $ | 1,458 | $ | (1,113) | $ | — | $ | 345 | ||||||||||||||||||||||||||||||||||
Interest rate swaps | 72 | (72) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Total derivative assets | 930 | (739) | (11) | 180 | 1,458 | (1,113) | — | 345 | ||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity contracts | (933) | 667 | 138 | (128) | (1,737) | 1,113 | 40 | (584) | ||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps | (404) | 72 | — | (332) | (177) | — | — | (177) | ||||||||||||||||||||||||||||||||||||||||||
Total derivative liabilities | (1,337) | 739 | 138 | (460) | (1,914) | 1,113 | 40 | (761) | ||||||||||||||||||||||||||||||||||||||||||
Net amounts | $ | (407) | $ | — | $ | 127 | $ | (280) | $ | (456) | $ | — | $ | 40 | $ | (416) |
December 31, 2020 | December 31, 2019 | |||||||||||||||||||
Derivative type | Notional Volume | Unit of Measure | ||||||||||||||||||
Natural gas (a) | 5,264 | 6,160 | Million MMBtu | |||||||||||||||||
Electricity | 438,863 | 428,367 | GWh | |||||||||||||||||
Financial transmission rights (b) | 217,350 | 199,648 | GWh | |||||||||||||||||
Coal | 20 | 22 | Million U.S. tons | |||||||||||||||||
Fuel oil | 176 | 33 | Million gallons | |||||||||||||||||
Emissions | 8 | 20 | Million tons | |||||||||||||||||
Renewable energy certificates | 18 | 11 | Million certificates | |||||||||||||||||
Interest rate swaps – variable/fixed (c) | $ | 6,720 | $ | 6,720 | Million U.S. dollars | |||||||||||||||
Interest rate swaps - fixed/variable (c) | $ | 2,120 | $ | 2,120 | Million U.S. dollars |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Fair value of derivative contract liabilities (a) | $ | (679) | $ | (692) | |||||||
Offsetting fair value under netting arrangements (b) | 262 | 167 | |||||||||
Cash collateral and letters of credit | 35 | 67 | |||||||||
Liquidity exposure | $ | (382) | $ | (458) |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Pension costs | $ | 11 | $ | 9 | $ | 14 | |||||||||||
OPEB costs | 7 | 11 | 9 | ||||||||||||||
Total benefit costs recognized as expense | $ | 18 | $ | 20 | $ | 23 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Assumptions Used to Determine Net Periodic Pension Cost: | |||||||||||||||||
Discount rate (Vistra Plan) | 3.24 | % | 4.37 | % | 3.74 | % | |||||||||||
Discount rate (Dynegy Plan and EEI Plan) | 3.24 | % | 4.37 | % | 4.05 | % | |||||||||||
Expected return on plan assets (Vistra Plan) | 4.44 | % | 4.80 | % | 4.56 | % | |||||||||||
Expected return on plan assets (Dynegy Plan) | 5.28 | % | 5.31 | % | 5.94 | % | |||||||||||
Expected return on plan assets (EEI Plan) | 5.45 | % | 5.56 | % | 4.74 | % | |||||||||||
Expected rate of compensation increase (Vistra Plan) | 3.29 | % | 3.35 | % | 3.62 | % | |||||||||||
Expected rate of compensation increase (Dynegy Plan and EEI Plan) | 3.29 | % | 3.35 | % | 3.50 | % | |||||||||||
Interest crediting rate for cash balance plans (Vistra Plan) | 3.50 | % | 3.50 | % | 3.50 | % | |||||||||||
Interest crediting rate for cash balance plans (Dynegy Plan and EEI Plan) | 3.50 | % | 3.50 | % | 4.25 | % | |||||||||||
Components of Net Pension Cost: | |||||||||||||||||
Service cost | $ | 6 | $ | 7 | $ | 15 | |||||||||||
Interest cost | 20 | 25 | 21 | ||||||||||||||
Expected return on assets | (23) | (26) | (23) | ||||||||||||||
Amortization of unrecognized amounts | 1 | — | — | ||||||||||||||
Immediate pension cost | 7 | 3 | 1 | ||||||||||||||
Net periodic pension cost | $ | 11 | $ | 9 | $ | 14 | |||||||||||
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income: | |||||||||||||||||
Net loss | $ | 17 | $ | 11 | $ | 14 | |||||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | 28 | $ | 20 | $ | 28 | |||||||||||
Assumptions Used to Determine Benefit Obligations: | |||||||||||||||||
Discount rate | 2.50 | % | 3.24 | % | 4.37 | % | |||||||||||
Expected rate of compensation increase | 3.41 | % | 3.29 | % | 3.35 | % | |||||||||||
Interest crediting rate for cash balance plans | 3.00 | % | 3.50 | % | 3.50 | % | |||||||||||
Year Ended December 31, | |||||||||||
2020 | 2019 | ||||||||||
Change in Pension Obligation: | |||||||||||
Projected benefit obligation at beginning of period | $ | 674 | $ | 615 | |||||||
Service cost | 6 | 7 | |||||||||
Interest cost | 20 | 25 | |||||||||
Lump-sum window | (6) | — | |||||||||
Annuity purchase | (29) | (18) | |||||||||
Actuarial loss | 46 | 93 | |||||||||
Benefits paid | (68) | (48) | |||||||||
Projected benefit obligation at end of year | $ | 643 | $ | 674 | |||||||
Accumulated benefit obligation at end of year | $ | 639 | $ | 669 | |||||||
Change in Plan Assets: | |||||||||||
Fair value of assets at beginning of period | $ | 528 | $ | 490 | |||||||
Employer contributions | 16 | — | |||||||||
Lump-sum window | (6) | — | |||||||||
Annuity purchase | (29) | (18) | |||||||||
Actual gain on assets | 40 | 102 | |||||||||
Benefits paid | (64) | (46) | |||||||||
Fair value of assets at end of year | $ | 485 | $ | 528 | |||||||
Funded Status: | |||||||||||
Projected pension benefit obligation | $ | (643) | $ | (674) | |||||||
Fair value of assets | 485 | 528 | |||||||||
Funded status at end of year | $ | (158) | $ | (146) | |||||||
Amounts Recognized in the Balance Sheet Consist of: | |||||||||||
Other noncurrent liabilities | $ | (158) | $ | (146) | |||||||
Net liability recognized | $ | (158) | $ | (146) | |||||||
Amounts Recognized in Accumulated Other Comprehensive Income Consist of: | |||||||||||
Net (loss) | $ | (42) | $ | (24) |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Pension Plans with PBO and ABO in Excess Of Plan Assets: | |||||||||||
Projected benefit obligations | $ | 643 | $ | 674 | |||||||
Accumulated benefit obligation | $ | 639 | $ | 669 | |||||||
Plan assets | $ | 485 | $ | 528 |
Target Allocation Ranges | |||||||||||||||||||||||||||||||||||
Asset Category: | Vistra Plan | Dynegy Plan | EEI Plan | ||||||||||||||||||||||||||||||||
Fixed income | 65 | % | - | 75% | 45 | % | - | 55% | 40 | % | - | 50% | |||||||||||||||||||||||
Global equity securities | 16 | % | - | 24% | 30 | % | - | 38% | 34 | % | - | 42% | |||||||||||||||||||||||
Real estate | 4 | % | - | 8% | 8 | % | - | 12% | 10 | % | - | 14% | |||||||||||||||||||||||
Credit strategies | 3 | % | - | 7% | 6 | % | - | 10% | 7 | % | - | 11% |
Retirement Plan | |||||||||||||||||
Expected Long-Term Rate of Return | |||||||||||||||||
Asset Class: | Vistra Plan | Dynegy Plan | EEI Plan | ||||||||||||||
Fixed income securities | 2.4 | % | 2.3 | % | 2.3 | % | |||||||||||
Global equity securities | 7.3 | % | 7.3 | % | 7.3 | % | |||||||||||
Real estate | 5.6 | % | 5.6 | % | 5.6 | % | |||||||||||
Credit strategies | 4.8 | % | 4.8 | % | 4.8 | % | |||||||||||
Weighted average | 3.8 | % | 4.4 | % | 4.7 | % |
Year Ended December 31, | |||||||||||
2020 | 2019 | ||||||||||
Asset Category: | |||||||||||
Cash commingled trusts | 11 | 10 | |||||||||
Equity securities: | |||||||||||
Global equities | 153 | 169 | |||||||||
Fixed income securities: | |||||||||||
Corporate bonds (a) | 207 | 211 | |||||||||
Government bonds | 37 | 50 | |||||||||
Other (b) | 32 | 37 | |||||||||
Real estate | 45 | 51 | |||||||||
Total assets measured at net asset value | $ | 485 | $ | 528 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Assumptions Used to Determine Net Periodic Benefit Cost: | |||||||||||||||||
Discount rate (Vistra Plan) | 3.25 | % | 4.35 | % | 3.67 | % | |||||||||||
Discount rate (Split-Participant Plan) | 3.25 | % | 4.35 | % | 3.67 | % | |||||||||||
Discount rate (Dynegy Plan) | 3.25 | % | 4.35 | % | 4.04 | % | |||||||||||
Expected return on plan assets (EEI Union) | 7.07 | % | 5.36 | % | 5.10 | % | |||||||||||
Expected return on plan assets (EEI Salaried) | 3.43 | % | 4.70 | % | 4.47 | % | |||||||||||
Components of Net Postretirement Benefit Cost: | |||||||||||||||||
Service cost | $ | 2 | $ | 2 | $ | 2 | |||||||||||
Interest cost | 4 | 6 | 5 | ||||||||||||||
Expected return on plan assets | (2) | (1) | (1) | ||||||||||||||
Amortization of unrecognized amounts | 4 | 3 | 3 | ||||||||||||||
Immediate postretirement benefit cost | (1) | 1 | — | ||||||||||||||
Net periodic OPEB cost | $ | 7 | $ | 11 | $ | 9 | |||||||||||
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income: | |||||||||||||||||
Net (gain) loss and prior service (credit) cost | $ | 5 | $ | — | $ | (6) | |||||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | 12 | $ | 11 | $ | 3 | |||||||||||
Assumptions Used to Determine Benefit Obligations at Period End: | |||||||||||||||||
Discount rate | 2.51 | % | 3.25 | % | 4.35 | % | |||||||||||
Year Ended December 31, | |||||||||||
2020 | 2019 | ||||||||||
Change in Postretirement Benefit Obligation: | |||||||||||
Benefit obligation at beginning of year | $ | 151 | $ | 144 | |||||||
Service cost | 2 | 2 | |||||||||
Interest cost | 4 | 6 | |||||||||
Participant contributions | 3 | 3 | |||||||||
Actuarial loss | 12 | 10 | |||||||||
Benefits paid | (15) | (14) | |||||||||
Benefit obligation at end of year | $ | 157 | $ | 151 | |||||||
Change in Plan Assets: | |||||||||||
Fair value of assets at beginning of year | $ | 34 | $ | 29 | |||||||
Employer contributions | 9 | 9 | |||||||||
Participant contributions | 3 | 3 | |||||||||
Benefits paid | (13) | (13) | |||||||||
Actual gain on assets | 4 | 6 | |||||||||
Fair value of assets at end of year | $ | 37 | $ | 34 | |||||||
Funded Status: | |||||||||||
Benefit obligation | $ | (157) | $ | (151) | |||||||
Fair value of assets | 37 | 34 | |||||||||
Funded status at end of year | $ | (120) | $ | (117) | |||||||
Amounts Recognized on the Balance Sheet Consist of: | |||||||||||
Other noncurrent assets | $ | 23 | $ | 18 | |||||||
Other current liabilities | $ | (9) | $ | (9) | |||||||
Other noncurrent liabilities | (134) | (126) | |||||||||
Net liability recognized | $ | (120) | $ | (117) | |||||||
Amounts Recognized in Accumulated Other Comprehensive Income Consist of: | |||||||||||
Net loss and prior service cost | $ | 20 | $ | 15 | |||||||
December 31, 2020 | December 31, 2019 | ||||||||||
Assumed Health Care Cost Trend Rates-Not Medicare Eligible: | |||||||||||
Health care cost trend rate assumed for next year | 6.20 | % | 6.40 | % | |||||||
Rate to which the cost trend is expected to decline (the ultimate trend rate) | 4.50 | % | 4.50 | % | |||||||
Year that the rate reaches the ultimate trend rate | 2029 | 2029 | |||||||||
Assumed Health Care Cost Trend Rates-Medicare Eligible: | |||||||||||
Health care cost trend rate assumed for next year (Vistra Plan, EEI Union and EEI Salaried) | 9.10 | % | 8.60 | % | |||||||
Health care cost trend rate assumed for next year (Split-Participant Plan) | 8.80 | % | 8.30 | % | |||||||
Rate to which the cost trend is expected to decline (the ultimate trend rate) | 4.50 | % | 4.50 | % | |||||||
Year that the rate reaches the ultimate trend rate | 2030 | 2029 |
2021 | 2022 | 2023 | 2024 | 2025 | 2026-2030 | ||||||||||||||||||||||||||||||
Pension benefits | $ | 49 | $ | 43 | $ | 43 | $ | 40 | $ | 52 | $ | 188 | |||||||||||||||||||||||
OPEB | $ | 10 | $ | 10 | $ | 10 | $ | 10 | $ | 9 | $ | 41 |
Instrument Type | Dynegy Awards Prior to the Merger Date | Vistra Awards Converted at the Merger Date | Fair Value of Awards (a) at the Merger Date | ||||||||
Stock Options | 4,096,027 | 2,670,610 | $ | 10 | |||||||
Restricted Stock Units | 5,718,148 | 3,056,689 | 61 | ||||||||
Performance Units | 1,538,133 | 938,721 | 18 | ||||||||
Total | $ | 89 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Total stock-based compensation expense | $ | 63 | $ | 47 | $ | 73 | |||||||||||
Income tax benefit | (15) | (9) | (15) | ||||||||||||||
Stock based-compensation expense, net of tax | $ | 48 | $ | 38 | $ | 58 |
Year Ended December 31, 2020 | |||||||||||||||||||||||
Stock Options
(in thousands) |
Weighted
Average Exercise Price |
Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (in millions) | ||||||||||||||||||||
Total outstanding at beginning of period | 13,535 | $ | 18.73 | 7.3 | $ | 69.3 | |||||||||||||||||
Granted | 3,014 | $ | 22.98 | ||||||||||||||||||||
Exercised | (251) | $ | 13.62 | ||||||||||||||||||||
Forfeited or expired | (268) | $ | 20.74 | ||||||||||||||||||||
Total outstanding at end of period | 16,030 | $ | 19.58 | 6.7 | $ | 30.8 | |||||||||||||||||
Exercisable at December 31, 2020 | 6,871 | $ | 16.83 | 5.9 | $ | 30.5 |
Year Ended December 31, 2020 | |||||||||||||||||||||||
Restricted Stock Units
(in thousands) |
Weighted
Average Grant Date Fair Value |
||||||||||||||||||||||
Total nonvested at beginning of period | 2,538 | $ | 20.99 | ||||||||||||||||||||
Granted | 1,209 | $ | 22.50 | ||||||||||||||||||||
Vested | (1,456) | $ | 19.48 | ||||||||||||||||||||
Forfeited | (39) | $ | 21.89 | ||||||||||||||||||||
Total nonvested at end of period | 2,252 | $ | 22.35 | ||||||||||||||||||||
Year Ended December 31, 2020 | |||||||||||||||||||||||
Performance Stock Units
(in thousands) |
Weighted
Average Grant Date Fair Value |
||||||||||||||||||||||
Total nonvested at beginning of period | — | $ | — | ||||||||||||||||||||
Granted | 473 | $ | 23.43 | ||||||||||||||||||||
Vested | (21) | $ | 23.43 | ||||||||||||||||||||
Forfeited | (1) | $ | 23.43 | ||||||||||||||||||||
Total nonvested at end of period | 451 | $ | 23.43 | ||||||||||||||||||||
For the year ended |
Retail | Texas | East | West | Sunset | Asset Closure | Corporate and Other (b) | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||
Operating revenues (a): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | $ | 8,270 | $ | 4,116 | $ | 2,415 | $ | 282 | $ | 1,252 | $ | 3 | $ | — | $ | (4,895) | $ | 11,443 | ||||||||||||||||||||||||||||||||||||||
December 31, 2019 | 6,872 | 3,836 | 2,790 | 338 | 1,602 | 341 | — | (3,970) | 11,809 | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2018 | 5,597 | 2,497 | 1,895 | 208 | 1,183 | 371 | — | (2,607) | 9,144 | |||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | $ | (303) | $ | (475) | $ | (721) | $ | (19) | $ | (133) | $ | (22) | $ | (64) | $ | — | $ | (1,737) | ||||||||||||||||||||||||||||||||||||||
December 31, 2019 | (292) | (472) | (680) | (19) | (120) | — | (57) | — | (1,640) | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2018 | (318) | (390) | (519) | (14) | (81) | — | (72) | — | (1,394) | |||||||||||||||||||||||||||||||||||||||||||||||
Operating income (loss): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | $ | 312 | $ | 1,761 | $ | 73 | $ | 39 | $ | (420) | $ | (109) | $ | (137) | $ | — | $ | 1,519 | ||||||||||||||||||||||||||||||||||||||
December 31, 2019 | 155 | 1,314 | 398 | 88 | 271 | (107) | (127) | 1 | 1,993 | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2018 | 690 | (103) | 10 | 35 | 242 | (63) | (320) | — | 491 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest expense and related charges: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | $ | (10) | $ | 8 | $ | (7) | $ | 10 | $ | (2) | $ | — | $ | (632) | $ | 3 | $ | (630) | ||||||||||||||||||||||||||||||||||||||
December 31, 2019 | (21) | 8 | (13) | — | (4) | — | (770) | 3 | (797) | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2018 | (7) | (12) | (10) | (1) | (1) | — | (612) | 71 | (572) | |||||||||||||||||||||||||||||||||||||||||||||||
Income tax (expense) benefit: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (266) | $ | — | $ | (266) | ||||||||||||||||||||||||||||||||||||||
December 31, 2019 | — | — | — | — | — | — | (290) | — | (290) | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2018 | — | — | — | — | — | — | 45 | — | 45 | |||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | $ | 309 | $ | 1,760 | $ | 41 | $ | 50 | $ | (414) | $ | (101) | $ | (1,021) | $ | — | $ | 624 | ||||||||||||||||||||||||||||||||||||||
December 31, 2019 | 134 | 1,342 | 400 | 88 | 274 | (109) | (1,204) | 1 | 926 | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2018 | 712 | (88) | 18 | 34 | 242 | (62) | (912) | — | (56) | |||||||||||||||||||||||||||||||||||||||||||||||
Capital expenditures, including nuclear fuel and excluding LTSA prepayments and development and growth expenditures:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | $ | 2 | $ | 388 | $ | 71 | $ | 2 | $ | 46 | $ | — | $ | 91 | $ | — | $ | 600 | ||||||||||||||||||||||||||||||||||||||
December 31, 2019 | 1 | 296 | 61 | 2 | 58 | — | 69 | — | 487 | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2018 | 1 | 280 | 21 | 8 | 36 | — | 50 | — | 396 |
For the year ended | Retail | Texas | East | West | Sunset | Asset Closure | Corporate and Other | Eliminations (1) | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | $ | (11) | $ | 677 | $ | (23) | $ | (10) | $ | (140) | $ | — | $ | — | $ | (329) | $ | 164 | ||||||||||||||||||||||||||||||||||||||
December 31, 2019 | 8 | 575 | 195 | 41 | 168 | — | — | (305) | 682 | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2018 | (12) | (483) | (76) | (15) | (11) | — | — | 217 | (380) |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Interest paid/accrued | $ | 467 | $ | 576 | $ | 537 | |||||||||||
Unrealized mark-to-market net losses on interest rate swaps | 155 | 220 | 5 | ||||||||||||||
Amortization of debt issuance costs, discounts and premiums | 18 | 9 | — | ||||||||||||||
Debt extinguishment (gain) loss | (17) | (21) | 27 | ||||||||||||||
Capitalized interest | (21) | (12) | (12) | ||||||||||||||
Other | 28 | 25 | 15 | ||||||||||||||
Total interest expense and related charges | $ | 630 | $ | 797 | $ | 572 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Other income: | |||||||||||||||||
Insurance settlement (a) | $ | 6 | $ | 22 | $ | 16 | |||||||||||
Funds released from escrow to settle pre-petition claims of our predecessor (b) | — | 9 | — | ||||||||||||||
Office space sublease rental income (b) | — | — | 8 | ||||||||||||||
Sale of land (c) | 8 | — | 3 | ||||||||||||||
Interest income | 2 | 10 | 18 | ||||||||||||||
All other | 18 | 15 | 2 | ||||||||||||||
Total other income | $ | 34 | $ | 56 | $ | 47 | |||||||||||
Other deductions: | |||||||||||||||||
Loss on disposal of investment in NELP (d) | $ | 29 | $ | — | $ | — | |||||||||||
All other | 13 | 15 | 5 | ||||||||||||||
Total other deductions | $ | 42 | $ | 15 | $ | 5 |
December 31, 2020 | December 31, 2019 | ||||||||||||||||||||||
Current
Assets |
Noncurrent Assets |
Current
Assets |
Noncurrent Assets | ||||||||||||||||||||
Amounts related to remediation escrow accounts | $ | 19 | $ | 19 | $ | 15 | $ | 28 | |||||||||||||||
Amounts related to restructuring escrow accounts | — | — | 43 | — | |||||||||||||||||||
Amounts related to Ambit customer deposits | — | — | 19 | — | |||||||||||||||||||
Amounts related to Ambit commodity trading agreement | — | — | 62 | — | |||||||||||||||||||
Amounts related to Ambit letters of credit (Note 11) | — | — | 8 | — | |||||||||||||||||||
Total restricted cash | $ | 19 | $ | 19 | $ | 147 | $ | 28 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Wholesale and retail trade accounts receivable | $ | 1,324 | $ | 1,401 | |||||||
Allowance for uncollectible accounts | (45) | (36) | |||||||||
Trade accounts receivable — net | $ | 1,279 | $ | 1,365 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Allowance for uncollectible accounts receivable at beginning of period (a) | $ | 42 | $ | 19 | $ | 14 | |||||||||||
Increase for bad debt expense | 110 | 82 | 56 | ||||||||||||||
Decrease for account write-offs | (107) | (65) | (51) | ||||||||||||||
Allowance for uncollectible accounts receivable at end of period | $ | 45 | $ | 36 | $ | 19 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Materials and supplies | $ | 260 | $ | 278 | |||||||
Fuel stock | 236 | 172 | |||||||||
Natural gas in storage | 19 | 19 | |||||||||
Total inventories | $ | 515 | $ | 469 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Nuclear plant decommissioning trust | $ | 1,674 | $ | 1,451 | |||||||
Assets related to employee benefit plans (Note 17) | 41 | 37 | |||||||||
Land | 44 | 49 | |||||||||
Total investments | $ | 1,759 | $ | 1,537 |
Year Ended December 31, | |||||||||||||||||||||||||||||
2020 | 2019 | ||||||||||||||||||||||||||||
Debt securities (a) | $ | 618 | $ | 521 | |||||||||||||||||||||||||
Equity securities (b) | 1,056 | 930 | |||||||||||||||||||||||||||
Total | $ | 1,674 | $ | 1,451 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Proceeds from sales of securities | $ | 433 | $ | 431 | $ | 252 | |||||||||||
Investments in securities | $ | (455) | $ | (453) | $ | (274) |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Power generation and structures | $ | 15,222 | $ | 15,205 | |||||||
Land | 617 | 622 | |||||||||
Office and other equipment | 173 | 164 | |||||||||
Total | 16,012 | 15,991 | |||||||||
Less accumulated depreciation | (3,614) | (2,553) | |||||||||
Net of accumulated depreciation | 12,398 | 13,438 | |||||||||
Finance lease right-of-use assets (net of accumulated depreciation) | 182 | 59 | |||||||||
Nuclear fuel (net of accumulated amortization of $91 million and $216 million)
|
207 | 197 | |||||||||
Construction work in progress | 712 | 220 | |||||||||
Property, plant and equipment — net | $ | 13,499 | $ | 13,914 |
Nuclear Plant Decommissioning | Mining Land Reclamation | Coal Ash and Other | Total | ||||||||||||||||||||
Liability at December 31, 2017 | $ | 1,233 | $ | 438 | $ | 265 | $ | 1,936 | |||||||||||||||
Additions: | |||||||||||||||||||||||
Accretion | 43 | 22 | 28 | 93 | |||||||||||||||||||
Adjustment for change in estimates | — | 56 | (89) | (33) | |||||||||||||||||||
Obligations assumed in the Merger | — | 2 | 475 | 477 | |||||||||||||||||||
Reductions: | |||||||||||||||||||||||
Payments | — | (76) | (24) | (100) | |||||||||||||||||||
Liability at December 31, 2018 | 1,276 | 442 | 655 | 2,373 | |||||||||||||||||||
Additions: | |||||||||||||||||||||||
Accretion | 44 | 22 | 31 | 97 | |||||||||||||||||||
Adjustment for change in estimates | — | 16 | (1) | 15 | |||||||||||||||||||
Adjustment for obligations assumed through acquisitions | — | — | (3) | (3) | |||||||||||||||||||
Reductions: | |||||||||||||||||||||||
Payments | — | (70) | (39) | (109) | |||||||||||||||||||
Liability transfers (a) | — | — | (135) | (135) | |||||||||||||||||||
Liability at December 31, 2019 | 1,320 | 410 | 508 | 2,238 | |||||||||||||||||||
Additions: | |||||||||||||||||||||||
Accretion | 46 | 20 | 23 | 89 | |||||||||||||||||||
Adjustment for change in estimates (b) | 219 | (6) | 25 | 238 | |||||||||||||||||||
Reductions: | |||||||||||||||||||||||
Payments | — | (65) | (49) | (114) | |||||||||||||||||||
Liability transfers (a) | — | — | (15) | (15) | |||||||||||||||||||
Liability at December 31, 2020 | 1,585 | 359 | 492 | 2,436 | |||||||||||||||||||
Less amounts due currently | — | (92) | (11) | (103) | |||||||||||||||||||
Noncurrent liability at December 31, 2020 | $ | 1,585 | $ | 267 | $ | 481 | $ | 2,333 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Retirement and other employee benefits (Note 17) | $ | 312 | $ | 295 | |||||||
Identifiable intangible liabilities (Note 6) | 289 | 286 | |||||||||
Regulatory liability | 89 | 131 | |||||||||
Finance lease liabilities | 206 | 78 | |||||||||
Uncertain tax positions, including accrued interest | 12 | 10 | |||||||||
Liability for third-party remediation | 31 | 41 | |||||||||
Environmental allowances | — | 52 | |||||||||
Accrued severance costs | 54 | 12 | |||||||||
Other accrued expenses | 138 | 84 | |||||||||
Total other noncurrent liabilities and deferred credits | $ | 1,131 | $ | 989 |
December 31, 2020 | December 31, 2019 | |||||||||||||||||||||||||||||||
Long-term debt (see Note 11): | Fair Value Hierarchy | Carrying Amount |
Fair
Value |
Carrying Amount |
Fair
Value |
|||||||||||||||||||||||||||
Long-term debt under the Vistra Operations Credit Facilities | Level 2 | $ | 2,579 | $ | 2,565 | $ | 2,715 | $ | 2,717 | |||||||||||||||||||||||
Vistra Operations Senior Notes | Level 2 | 6,634 | 7,204 | 6,620 | 6,926 | |||||||||||||||||||||||||||
Vistra Senior Notes | Level 2 | — | — | 774 | 772 | |||||||||||||||||||||||||||
Forward Capacity Agreements | Level 3 | 45 | 45 | 155 | 155 | |||||||||||||||||||||||||||
Equipment Financing Agreements | Level 3 | 59 | 59 | 87 | 87 | |||||||||||||||||||||||||||
Building Financing | Level 2 | 10 | 10 | 16 | 16 | |||||||||||||||||||||||||||
Other debt | Level 3 | 3 | 3 | 12 | 12 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
Cash and cash equivalents | $ | 406 | $ | 300 | |||||||
Restricted cash included in current assets | 19 | 147 | |||||||||
Restricted cash included in noncurrent assets | 19 | 28 | |||||||||
Total cash, cash equivalents and restricted cash | $ | 444 | $ | 475 |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Cash payments related to: | |||||||||||||||||
Interest paid | $ | 503 | $ | 525 | $ | 651 | |||||||||||
Capitalized interest | (21) | (12) | (12) | ||||||||||||||
Interest paid (net of capitalized interest) | $ | 482 | $ | 513 | $ | 639 | |||||||||||
Income taxes paid / (refunds received) (a) | $ | (140) | $ | (76) | $ | 67 | |||||||||||
Noncash investing and financing activities: | |||||||||||||||||
Accrued property, plant and equipment additions (b) | $ | 19 | $ | 67 | $ | 84 | |||||||||||
Disposition of investment in NELP | $ | 123 | $ | — | $ | — | |||||||||||
Acquisition of investment in NJEA | $ | 90 | $ | — | $ | — | |||||||||||
Shares issued for tangible equity unit contracts (Note 14) | $ | — | $ | 446 | $ | — | |||||||||||
Land transferred with liability transfers | $ | — | $ | 16 | $ | — | |||||||||||
Vistra common stock issued in the Merger (Notes 2 and 14) | $ | — | $ | — | $ | 2,245 |
/s/ CURTIS A. MORGAN | /s/ JAMES A. BURKE | |||||||
Curtis A. Morgan | James A. Burke | |||||||
Chief Executive Officer | President and Chief Financial Officer | |||||||
(Principal Executive Officer) | (Principal Financial Officer) |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Depreciation and amortization | $ | (15) | $ | (7) | $ | — | |||||||||||
Selling, general and administrative expenses | (72) | (62) | (266) | ||||||||||||||
Operating loss | (87) | (69) | (266) | ||||||||||||||
Other income | 5 | 12 | 9 | ||||||||||||||
Interest expense and related charges | (7) | (88) | (257) | ||||||||||||||
Impacts of Tax Receivable Agreement | 5 | (37) | (79) | ||||||||||||||
Loss before income tax benefit | (84) | (182) | (593) | ||||||||||||||
Income tax benefit | 25 | 42 | 282 | ||||||||||||||
Equity in earnings of subsidiaries, net of tax | 695 | 1,068 | 257 | ||||||||||||||
Net income (loss) | $ | 636 | $ | 928 | $ | (54) |
Year Ended December 31, | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Cash flows — operating activities: | |||||||||||||||||
Cash used in operating activities | $ | (86) | $ | (58) | $ | (125) | |||||||||||
Cash flows — investing activities: | |||||||||||||||||
Capital expenditures | (15) | (36) | (24) | ||||||||||||||
Dividend received from subsidiaries | 1,105 | 3,890 | 4,668 | ||||||||||||||
Other, net | — | — | (1) | ||||||||||||||
Cash provided by investing activities | 1,090 | 3,854 | 4,643 | ||||||||||||||
Cash flows — financing activities: | |||||||||||||||||
Repayments/repurchases of debt | (747) | (2,903) | (4,543) | ||||||||||||||
Debt tender offer and other debt financing fees | (17) | (123) | (179) | ||||||||||||||
Stock repurchases | — | (656) | (763) | ||||||||||||||
Dividends paid to stockholders | (266) | (243) | — | ||||||||||||||
Other, net | — | — | 12 | ||||||||||||||
Cash used in financing activities | (1,030) | (3,925) | (5,473) | ||||||||||||||
Net change in cash, cash equivalents and restricted cash | (26) | (129) | (955) | ||||||||||||||
Cash, cash equivalents and restricted cash — beginning balance | 99 | 228 | 1,183 | ||||||||||||||
Cash, cash equivalents and restricted cash — ending balance | $ | 73 | $ | 99 | $ | 228 |
December 31, | |||||||||||
2020 | 2019 | ||||||||||
ASSETS | |||||||||||
Cash and cash equivalents | $ | 73 | $ | 56 | |||||||
Restricted cash | — | 43 | |||||||||
Trade accounts receivable — net | 7 | 5 | |||||||||
Prepaid expense and other current assets | 5 | 100 | |||||||||
Total current assets | 85 | 204 | |||||||||
Investment in affiliated companies | 8,005 | 8,364 | |||||||||
Property, plant and equipment — net | 3 | 4 | |||||||||
Identifiable intangible assets — net | 47 | 49 | |||||||||
Accumulated deferred income taxes | 783 | 729 | |||||||||
Other noncurrent assets | 2 | 67 | |||||||||
Total assets | $ | 8,925 | $ | 9,417 | |||||||
LIABILITIES AND EQUITY | |||||||||||
Long-term debt due currently | $ | — | $ | 87 | |||||||
Trade accounts payable | 2 | 1 | |||||||||
Accounts payable —affiliates | 74 | 145 | |||||||||
Accrued taxes | 14 | 1 | |||||||||
Accrued interest | — | 11 | |||||||||
Other current liabilities | 4 | 46 | |||||||||
Total current liabilities | 94 | 291 | |||||||||
Long-term debt, less amounts due currently | — | 689 | |||||||||
Tax Receivable Agreement obligations | 447 | 455 | |||||||||
Other noncurrent liabilities and deferred debits | 23 | 22 | |||||||||
Total liabilities | 564 | 1,457 | |||||||||
Total stockholders' equity | 8,361 | 7,960 | |||||||||
Total liabilities and equity | $ | 8,925 | $ | 9,417 |
Exhibits | Previously Filed With File Number* |
As
Exhibit |
||||||||||||||||||||||||
(2) | Plan of Acquisition, Reorganization, Arrangement, Liquidation, or Succession | |||||||||||||||||||||||||
2.1 |
333-215288
Form S-1
(filed December 23, 2016)
|
2.1 | — | |||||||||||||||||||||||
2.2 |
001-38086
Form 8-K
(filed October 31, 2017)
|
2.1 | — | |||||||||||||||||||||||
(3(i)) | Articles of Incorporation | |||||||||||||||||||||||||
3.1 |
001-38086
Form 8-K
(filed May 4, 2020)
|
3.1 | ||||||||||||||||||||||||
3.2 |
001-38086
Form 8-K
(filed June 29, 2020)
|
3.1 | — | |||||||||||||||||||||||
(3(ii)) | By-laws | |||||||||||||||||||||||||
3.3 | ** | — | ||||||||||||||||||||||||
Exhibits | Previously Filed With File Number* |
As
Exhibit |
||||||||||||||||||||||||
(4) | Instruments Defining the Rights of Security Holders, Including Indentures | |||||||||||||||||||||||||
4.1 |
001-38086
Form 8-K (filed on August 23, 2018) |
4.1 | — | |||||||||||||||||||||||
4.2 |
001-38086
Form 8-K (filed on August 23, 2018) |
4.2 | — | |||||||||||||||||||||||
4.3 |
001-38086
Form 8-K (filed on August 23, 2018) |
4.3 | — | |||||||||||||||||||||||
4.4 |
001-38086
Form 10-Q (Quarter ended September 30, 2019) (filed on November 5, 2019) |
4.5 | — | |||||||||||||||||||||||
4.5 |
001-38086
Form 10-K (filed on February 28, 2020) |
4.36 | — | |||||||||||||||||||||||
4.6 |
001-38086
Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) |
4.5 | — | |||||||||||||||||||||||
4.7 |
001-38086
Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) |
4.6 | — | |||||||||||||||||||||||
4.8 | ** | — | ||||||||||||||||||||||||
4.9 | ** | — | ||||||||||||||||||||||||
4.10 |
001-38086
Form 8-K (filed on February 6, 2019) |
4.1 | — |
|
||||||||||||||||||||||
4.11 |
001-38086
Form 8-K (filed on February 6, 2019) |
4.2 | — |
|
||||||||||||||||||||||
4.12 |
001-38086
Form 8-K (filed on February 6, 2019) |
4.3 | — |
|
||||||||||||||||||||||
4.13 |
001-38086
Form 10-Q (Quarter ended September 30, 2019) (filed on November 5, 2019) |
4.6 | — | |||||||||||||||||||||||
4.14 |
001-38086
Form 10-K (filed on February 28, 2020) |
4.41 | — | |||||||||||||||||||||||
Exhibits | Previously Filed With File Number* |
As
Exhibit |
||||||||||||||||||||||||
4.15 |
001-38086
Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) |
4.7 | — | |||||||||||||||||||||||
4.16 |
001-38086
Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) |
4.8 | — | |||||||||||||||||||||||
4.17 | ** | — | ||||||||||||||||||||||||
4.18 | ** | |||||||||||||||||||||||||
4.19 |
001-38086
Form 8-K (filed on June 24, 2019) |
4.1 | — | |||||||||||||||||||||||
4.20 |
001-38086
Form 8-K (filed on June 24, 2019) |
4.2 | — | |||||||||||||||||||||||
4.21 |
001-38086
Form 8-K (filed on June 24, 2019) |
4.3 | — | |||||||||||||||||||||||
4.22 |
001-38086
Form 10-Q (Quarter ended September 30, 2019) (filed on November 5, 2019) |
4.7 | — | |||||||||||||||||||||||
4.23 |
001-38086
Form 10-K (filed on February 28, 2020) |
4.46 | — | |||||||||||||||||||||||
4.24 |
001-38086
Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) |
4.9 | — | |||||||||||||||||||||||
4.25 |
001-38086
Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) |
4.10 | — | |||||||||||||||||||||||
4.26 | ** | — | ||||||||||||||||||||||||
4.27 | ** | — | ||||||||||||||||||||||||
4.28 |
001-38086
Form 8-K (filed on June 17, 2019) |
4.1 | — | |||||||||||||||||||||||
4.29 |
001-38086
Form 8-K (filed on June 17, 2019) |
4.2 | — | |||||||||||||||||||||||
Exhibits | Previously Filed With File Number* |
As
Exhibit |
||||||||||||||||||||||||
4.30 |
001-38086
Form 8-K (filed on June 17, 2019) |
4.3 | — | |||||||||||||||||||||||
4.31 |
001-38086
Form 8-K (filed on June 17, 2019) |
4.4 | — | |||||||||||||||||||||||
4.32 |
001-38086
Form 8-K (filed on June 17, 2019) |
4.5 | — | |||||||||||||||||||||||
4.33 |
001-38086
Form 8-K (filed on June 17, 2019) |
4.6 | — | |||||||||||||||||||||||
4.34 |
001-38086
Form 10-Q (Quarter ended September 30, 2019) (filed on November 5, 2019) |
4.8 | — | |||||||||||||||||||||||
4.35 |
001-38086
Form 8-K (filed on November 21, 2019) |
4.1 | — | |||||||||||||||||||||||
4.36 |
001-38086
Form 8-K (filed on November 21, 2019) |
4.2 | — | |||||||||||||||||||||||
4.37 |
001-38086
Form 8-K (filed on November 21, 2019) |
4.3 | — | |||||||||||||||||||||||
4.38 |
001-38086
Form 8-K (filed on November 21, 2019) |
4.4 | — | |||||||||||||||||||||||
4.39 |
001-38086
Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) |
4.11 | — | |||||||||||||||||||||||
4.40 |
001-38086
Form 10-Q (Quarter ended March 31, 2020) (filed on May 5, 2020) |
4.12 | — | |||||||||||||||||||||||
4.41 | ** | — | ||||||||||||||||||||||||
4.42 | ** | — | ||||||||||||||||||||||||
4.43 |
001-38086
Form 8-K (filed on August 23, 2018) |
4.7 | — | |||||||||||||||||||||||
Exhibits | Previously Filed With File Number* |
As
Exhibit |
||||||||||||||||||||||||
4.44 |
001-38086
Form 8-K (filed on August 23, 2018) |
4.8 | — | |||||||||||||||||||||||
4.45 |
001-38086
Form 8-K (filed on April 5, 2019) |
4.1 | — | |||||||||||||||||||||||
4.46 |
001-38086
Form 10-Q (Quarter ended June 30, 2019) (filed on August 2, 2019) |
4.12 | — | |||||||||||||||||||||||
4.47 |
001-38086
Form 8-K (filed on July 19, 2019) |
4.1 | — | |||||||||||||||||||||||
4.48 |
001-38086
Form 8-K (filed on October 16, 2020) |
4.1 | — | |||||||||||||||||||||||
4.49 |
001-38086
Form 8-K (filed on December 28, 2020) |
4.1 | — | |||||||||||||||||||||||
4.50 |
001-38086
Form 8-K (filed on April 5, 2019) |
4.2 | — | |||||||||||||||||||||||
4.51 |
001-38086
Form 10-Q (Quarter ended June 30, 2019) (filed on August 2, 2019) |
4.13 | — | |||||||||||||||||||||||
4.52 |
001-38086
Form 8-K (filed on July 19, 2019) |
4.2 | — | |||||||||||||||||||||||
4.53 |
001-38086
Form 8-K (filed on July 16, 2020) |
4.1 | — | |||||||||||||||||||||||
Exhibits | Previously Filed With File Number* |
As
Exhibit |
||||||||||||||||||||||||
10.6 | ** | — | ||||||||||||||||||||||||
10.7 | ** | — | ||||||||||||||||||||||||
10.8 | ** | — | ||||||||||||||||||||||||
10.9 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.9 | — | |||||||||||||||||||||||
10.10 |
001-33443
Form10-K (Year ended December 31, 2018) (filed on February 28, 2019) |
10.6 | — | |||||||||||||||||||||||
10.11 |
001-38086
Form 8-K (filed on May 23, 2019) |
10.1 | — | |||||||||||||||||||||||
10.12 |
001-33443
Form10-K (Year ended December 31, 2018) (filed on February 28, 2019) |
10.7 | — | |||||||||||||||||||||||
10.13 | ** | — | ||||||||||||||||||||||||
10.14 |
001-38086
Form 8-K
(filed May 4, 2018)
|
10.1 | — |
|
||||||||||||||||||||||
10.15 |
001-33443
Form 10-Q (Quarter ended March 31, 2019) (filed on May 3, 2019) |
10.5 | — | |||||||||||||||||||||||
10.16 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.22 | — | |||||||||||||||||||||||
10.17 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.23 | — | |||||||||||||||||||||||
10.18 |
001-38086
Form 8-K
(filed February 27, 2020)
|
10.2 | — | |||||||||||||||||||||||
10.19 |
001-38086
Form 8-K
(filed February 27, 2020)
|
10.1 | — | |||||||||||||||||||||||
10.20 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.26 | — | |||||||||||||||||||||||
Exhibits | Previously Filed With File Number* |
As
Exhibit |
||||||||||||||||||||||||
10.31 |
001-38086
Form 8-K
(filed May 29, 2019)
|
10.1 | — | |||||||||||||||||||||||
10.32 |
001-38086
Form 8-K (filed on November 21, 2019) |
10.1 | — | |||||||||||||||||||||||
10.33 |
001-38086
Form 8-K (filed on August 7, 2018) |
10.1 | — | |||||||||||||||||||||||
10.34 |
001-38086
Form 8-K (filed on January 24, 2019) |
10.1 | — | |||||||||||||||||||||||
10.35 |
001-38086
Form 8-K (filed on June 7, 2019) |
10.1 | — | |||||||||||||||||||||||
10.36 |
001-38086
Form 8-K (filed on June 7, 2019) |
10.2 | — | |||||||||||||||||||||||
10.37 |
001-38086
Form 8-K (filed on November 13, 2019) |
10.1 | — | |||||||||||||||||||||||
10.38 |
001-38086
Form 8-K
(filed on April 9, 2018)
|
10.10 | — | |||||||||||||||||||||||
10.39 |
001-38086
Form 8-K
(filed on April 9, 2018)
|
10.11 | — | |||||||||||||||||||||||
10.40 |
001-38086
Form 8-K
(filed on April 9, 2018)
|
10.12 | — | |||||||||||||||||||||||
10.41 |
001-38086
Form 8-K
(filed on April 9, 2018)
|
10.13 | — | |||||||||||||||||||||||
Exhibits | Previously Filed With File Number* |
As
Exhibit |
||||||||||||||||||||||||
Other Material Contracts | ||||||||||||||||||||||||||
10.42 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.5 | — | |||||||||||||||||||||||
10.43 |
001-38086
Form 8-K (filed on June 15, 2018) |
10.2 | — | |||||||||||||||||||||||
10.44 |
001-38086
Form 8-K (filed on June 15, 2018) |
10.3 | — |
Collateral Trust Joinder, dated June 14, 2018, between the Additional Grantors party thereto and Delaware Trust Company, as Collateral Trustee, to the Collateral Trust Agreement, effective pursuant to the Seventh Amendment as of June 14, 2018, among Vistra Operations Company LLC, the other Grantors from time to time party thereto, Railroad Commission of Texas, as First-Out Representative, Credit Suisse AG, Cayman Islands Branch, as Senior Credit Agreement Agent, and Delaware Trust Company, as Collateral Trustee.
|
||||||||||||||||||||||
10.45 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.13 | — | |||||||||||||||||||||||
10.46 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.14 | — | |||||||||||||||||||||||
10.47 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.15 | — | |||||||||||||||||||||||
10.48 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.16 | — | |||||||||||||||||||||||
10.49 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.17 | — | |||||||||||||||||||||||
10.50 |
333-215288
Amendment No. 2
to Form S-1
(filed April 5, 2017)
|
10.18 | — | |||||||||||||||||||||||
10.51 |
001-38086
Form 8-K
(filed July 7, 2017)
|
10(a) | — | |||||||||||||||||||||||
10.52 |
001-38086
Form 8-K (filed on October 16, 2020) |
10.1 | — | |||||||||||||||||||||||
Exhibits | Previously Filed With File Number* |
As
Exhibit |
||||||||||||||||||||||||
10.53 |
001-38086
Form 8-K (filed on October 16, 2020) |
10.2 | — | |||||||||||||||||||||||
10.54 |
001-38086
Form 8-K (filed on December 28, 2020) |
10.1 | — | |||||||||||||||||||||||
(21) | Subsidiaries of the Registrant | |||||||||||||||||||||||||
21.1 | ** | — | ||||||||||||||||||||||||
(23) | Consent of Experts | |||||||||||||||||||||||||
23.1 | ** | — | ||||||||||||||||||||||||
(31) | Rule 13a-14(a) / 15d-14(a) Certifications | |||||||||||||||||||||||||
31.1 | ** | — | ||||||||||||||||||||||||
31.2 | ** | — | ||||||||||||||||||||||||
(32) | Section 1350 Certifications | |||||||||||||||||||||||||
32.1 | *** | — | ||||||||||||||||||||||||
32.2 | *** | — | ||||||||||||||||||||||||
(95) | Mine Safety Disclosures | |||||||||||||||||||||||||
95.1 | ** | — | ||||||||||||||||||||||||
XBRL Data Files | ||||||||||||||||||||||||||
101.INS | ** | — | The following financial information from Vistra Corp.'s Annual Report on Form 10-K for the year ended December 31, 2020 formatted in Inline XBRL (Extensible Business Reporting Language) includes: (i) the Consolidated Statements of Operations, (ii) the Consolidated Statements of Comprehensive Income, (iii) the Consolidated Statements of Cash Flows, (iv) the Consolidated Balance Sheets, (v) the Consolidated Statement of Changes in Equity (vi) the Notes to the Consolidated Financial Statements. | |||||||||||||||||||||||
101.SCH | ** | — | XBRL Taxonomy Extension Schema Document | |||||||||||||||||||||||
101.CAL | ** | — | XBRL Taxonomy Extension Calculation Linkbase Document | |||||||||||||||||||||||
101.DEF | ** | — | XBRL Taxonomy Extension Definition Linkbase Document | |||||||||||||||||||||||
101.LAB | ** | — | XBRL Taxonomy Extension Label Linkbase Document | |||||||||||||||||||||||
101.PRE | ** | — | XBRL Taxonomy Extension Presentation Linkbase Document | |||||||||||||||||||||||
104 | — | The Cover Page Interactive Data File does not appear in Exhibit 104 because its XBRL tags are embedded within the inline XBRL document. |
VISTRA CORP. | |||||||||||
Date: | February 26, 2021 | By | /s/ CURTIS A. MORGAN | ||||||||
Curtis A. Morgan (Chief Executive Officer) |
Signature | Title | Date | ||||||
/s/ CURTIS A. MORGAN | Principal Executive Officer and Director | February 26, 2021 | ||||||
(Curtis A. Morgan, Chief Executive Officer) | ||||||||
/s/ JAMES A. BURKE | Principal Financial Officer | February 26, 2021 | ||||||
(James A. Burke, President and Chief Financial Officer) | ||||||||
/s/ CHRISTY DOBRY | Principal Accounting Officer | February 26, 2021 | ||||||
(Christy Dobry, Senior Vice President and Controller) | ||||||||
/s/ SCOTT B. HELM | Chairman of the Board and Director | February 26, 2021 | ||||||
(Scott B. Helm, Chairman of the Board) | ||||||||
/s/ HILARY E. ACKERMANN | Director | February 26, 2021 | ||||||
(Hilary E. Ackermann) | ||||||||
/s/ ARCILIA C. ACOSTA | Director | February 26, 2021 | ||||||
(Arcilia C. Acosta) | ||||||||
/s/ GAVIN R. BAIERA | Director | February 26, 2021 | ||||||
(Gavin R. Baiera) | ||||||||
/s/ PAUL M. BARBAS | Director | February 26, 2021 | ||||||
(Paul M. Barbas) | ||||||||
/s/ LISA M. CRUTCHFIELD | Director | February 26, 2021 | ||||||
(Lisa M. Crutchfield) | ||||||||
/s/ BRIAN K. FERRAIOLI | Director | February 26, 2021 | ||||||
(Brian K. Ferraioli) | ||||||||
/s/ JEFF D. HUNTER | Director | February 26, 2021 | ||||||
(Jeff D. Hunter) | ||||||||
/s/ JOHN R. SULT | Director | February 26, 2021 | ||||||
(John R. Sult) |
TABLE OF CONTENTS | ||||||||
Page | ||||||||
ARTICLE I CORPORATE OFFICES | 1 | |||||||
Section 1.1 Registered Office | 1 | |||||||
Section 1.2 Other Offices | 1 | |||||||
ARTICLE II MEETINGS OF STOCKHOLDERS | 1 | |||||||
Section 2.1 Annual Meeting | 1 | |||||||
Section 2.2 Special Meeting | 1 | |||||||
Section 2.3 Notice of Stockholders' Meetings | 2 | |||||||
Section 2.4 Organization | 3 | |||||||
Section 2.5 List of Stockholders | 3 | |||||||
Section 2.6 Quorum | 4 | |||||||
Section 2.7 Adjourned or Recessed Meeting | 4 | |||||||
Section 2.8 Voting | 5 | |||||||
Section 2.9 Proxies | 5 | |||||||
Section 2.10 Notice of Stockholder Business and Nominations | 5 | |||||||
Section 2.11 No Action by Written Consent | 10 | |||||||
Section 2.12 Inspectors of Elections | 10 | |||||||
Section 2.13 Meetings by Remote Communications | 11 | |||||||
ARTICLE III DIRECTORS | 11 | |||||||
Section 3.1 Powers | 11 | |||||||
Section 3.2 Number and Election | 11 | |||||||
Section 3.3 Vacancies | 12 | |||||||
Section 3.4 Resignations and Removal | 12 | |||||||
Section 3.5 Regular Meetings | 13 | |||||||
Section 3.6 Special Meetings | 13 | |||||||
Section 3.7 Participation in Meetings by Conference Telephone | 13 | |||||||
Section 3.8 Quorum and Voting | 13 | |||||||
Section 3.9 Board of Directors Action by Written Consent Without a Meeting | 13 | |||||||
Section 3.10 Chairman of the Board | 14 | |||||||
Section 3.11 Rules and Regulations | 14 | |||||||
Section 3.12 Fees and Compensation of Directors | 14 | |||||||
Section 3.13 Emergency Bylaws | 14 | |||||||
ARTICLE IV COMMITTEES | 14 | |||||||
Section 4.1 Committees of the Board of Directors | 14 | |||||||
Section 4.2 Meetings and Action of Committees | 15 | |||||||
ARTICLE V OFFICERS | 15 | |||||||
Section 5.1 Officers | 15 | |||||||
Section 5.2 Removal, Resignation and Vacancies | 15 | |||||||
Section 5.3 Chief Executive Officer | 15 |
TABLE OF CONTENTS | ||||||||
Page | ||||||||
Section 5.4 President | 15 | |||||||
Section 5.5 Chief Financial Officer | 16 | |||||||
Section 5.6 Treasurer | 16 | |||||||
Section 5.7 Secretary | 16 | |||||||
Section 5.8 Additional Matters | 16 | |||||||
Section 5.9 Checks; Drafts; Evidences of Indebtedness | 16 | |||||||
Section 5.10 Corporate Contracts and Instruments; How Executed | 17 | |||||||
Section 5.11 Action with Respect to Securities of Other Corporations and Entities | 17 | |||||||
Section 5.12 Delegation | 17 | |||||||
ARTICLE VI INDEMNIFICATION AND ADVANCEMENT OF EXPENSES | 17 | |||||||
Section 6.1 Right to Indemnification | 17 | |||||||
Section 6.2 Right to Advancement of Expenses | 18 | |||||||
Section 6.3 Non-Exclusivity of Rights | 18 | |||||||
Section 6.4 Insurance | 18 | |||||||
Section 6.5 Indemnitor of First Resort | 18 | |||||||
Section 6.6 Indemnification of Employees and Agents of the Corporation | 19 | |||||||
Section 6.7 Nature of Rights | 19 | |||||||
Section 6.8 Settlement of Claims | 19 | |||||||
Section 6.9 Subrogation | 19 | |||||||
Section 6.10 Severability | 19 | |||||||
ARTICLE VII CAPITAL STOCK | 19 | |||||||
Section 7.1 Certificates of Stock | 19 | |||||||
Section 7.2 Special Designation on Certificates | 20 | |||||||
Section 7.3 Transfers of Stock | 20 | |||||||
Section 7.4 Lost Certificates | 21 | |||||||
Section 7.5 Registered Stockholders | 21 | |||||||
Section 7.6 Record Date for Determining Stockholders | 21 | |||||||
Section 7.7 Regulations | 22 | |||||||
Section 7.8 Waiver of Notice | 22 | |||||||
ARTICLE VIII GENERAL MATTERS | 22 | |||||||
Section 8.1 Fiscal year | 22 | |||||||
Section 8.2 Corporate Seal | 22 | |||||||
Section 8.3 Reliance Upon Books, Reports and Records | 22 | |||||||
Section 8.4 Subject to Law and Certificate of Incorporation | 22 | |||||||
ARTICLE IX AMENDMENTS | 23 | |||||||
Section 9.1 Amendments | 23 |
AMBIT CALIFORNIA, LLC | EVERYDAY ENERGY NJ, LLC | ||||
AMBIT ENERGY HOLDINGS, LLC | EVERYDAY ENERGY, LLC | ||||
AMBIT HOLDINGS US, LLC | GENERATION SVC COMPANY | ||||
AMBIT HOLDINGS, LLC | HALLMARK SOLAR, LLC | ||||
AMBIT ILLINOIS, LLC | HAVANA DOCK ENTERPRISES, LLC | ||||
AMBIT MANAGEMENT, LLC | HAYS ENERGY, LLC | ||||
AMBIT MARKETING, LLC | HOPEWELL POWER GENERATION, LLC | ||||
AMBIT MIDWEST, LLC | ILLINOIS POWER GENERATING COMPANY | ||||
AMBIT NEW YORK, LLC | ILLINOIS POWER MARKETING COMPANY | ||||
AMBIT NORTHEAST, LLC | ILLINOIS POWER RESOURCES GENERATING, LLC | ||||
AMBIT OHIO, LLC | ILLINOIS POWER RESOURCES, LLC | ||||
AMBIT SOUTHEAST, LLC | ILLINOVA CORPORATION | ||||
AMBIT SOUTHWEST, LLC | IPH, LLC | ||||
AMBIT TEXAS, LLC | KINCAID GENERATION, L.L.C. | ||||
ANP BELLINGHAM ENERGY COMPANY, LLC | LA FRONTERA HOLDINGS, LLC | ||||
ANP BLACKSTONE ENERGY COMPANY, LLC | LAKE ROAD GENERATING COMPANY, LLC | ||||
BIG BROWN POWER COMPANY LLC | LIBERTY ELECTRIC POWER, LLC | ||||
BIG SKY GAS, LLC | LONE STAR ENERGY COMPANY, INC. | ||||
BIG SKY GAS HOLDINGS, LLC | LONE STAR PIPELINE COMPANY, INC. | ||||
BLUENET HOLDINGS, LLC | LUMINANT ENERGY COMPANY LLC | ||||
BRIGHTSIDE SOLAR, LLC | LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ||||
CALUMET ENERGY TEAM, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
CASCO BAY ENERGY COMPANY, LLC | LUMINANT GENERATION COMPANY LLC | ||||
CINCINNATI BELL ENERGY, LLC | LUMINANT MINING COMPANY LLC | ||||
COFFEEN AND WESTERN RAILROAD COMPANY | MASSPOWER, LLC | ||||
COLETO CREEK POWER, LLC | MIDLOTHIAN ENERGY, LLC | ||||
COMANCHE PEAK POWER COMPANY LLC | MILFORD POWER COMPANY, LLC | ||||
CORE SOLAR SPV I, LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
CRIUS ENERGY, LLC | NCA RESOURCES DEVELOPMENT COMPANY LLC | ||||
CRIUS ENERGY CORPORATION | NEPCO SERVICES COMPANY | ||||
CRIUS ENERGY MANAGEMENT, LLC | NORTHEASTERN POWER COMPANY | ||||
CRIUS ENERGY MANAGEMENT 2, LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
CRIUS SOLAR FULFILLMENT, LLC | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
CRIUS SOLAR HOLDINGS, LLC | PLEASANTS ENERGY, LLC | ||||
CRIUS SOLAR, LLC | PEOPLE’S CHOICE ENERGY, LLC | ||||
DALLAS POWER & LIGHT COMPANY, INC. | PUBLIC POWER & UTILITY OF MARYLAND, LLC | ||||
DYNEGY ADMINISTRATIVE SERVICES COMPANY | PUBLIC POWER & UTILITY OF NY, INC. | ||||
DYNEGY ASSOCIATES NORTHEAST LP, INC. |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
DYNEGY COAL GENERATION, LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
DYNEGY COAL HOLDCO, LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
DYNEGY COAL TRADING & TRANSPORTATION, L.L.C. | RICHLAND-STRYKER GENERATION LLC | ||||
DYNEGY COMMERCIAL ASSET MANAGEMENT, LLC | SANDOW POWER COMPANY LLC |
DYNEGY CONESVILLE, LLC | SITHE ENERGIES, INC. | ||||
DYNEGY DICKS CREEK, LLC | SITHE/INDEPENDENCE LLC | ||||
DYNEGY ENERGY SERVICES (EAST), LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY ENERGY SERVICES, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY FAYETTE II, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
DYNEGY GAS IMPORTS, LLC | TEXAS POWER & LIGHT COMPANY, INC. | ||||
DYNEGY HANGING ROCK II, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
DYNEGY KENDALL ENERGY, LLC | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
DYNEGY KILLEN, LLC | TRIEAGLE 1, LLC | ||||
DYNEGY MARKETING AND TRADE, LLC | TRIEAGLE 2, LLC | ||||
DYNEGY MIAMI FORT, LLC | TRIEAGLE ENERGY LP | ||||
DYNEGY MIDWEST GENERATION, LLC | TXU ELECTRIC COMPANY, INC. | ||||
DYNEGY MORRO BAY, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
DYNEGY MOSS LANDING, LLC | TXU RETAIL SERVICES COMPANY | ||||
DYNEGY NORTHEAST GENERATION GP, INC. | UPTON COUNTY SOLAR 2, LLC | ||||
DYNEGY OAKLAND, LLC | VALUE BASED BRANDS LLC | ||||
DYNEGY OPERATING COMPANY | VIRIDIAN ENERGY, LLC | ||||
DYNEGY POWER GENERATION INC. | VIRIDIAN ENERGY PA LLC | ||||
DYNEGY POWER MARKETING, LLC | VIRIDIAN ENERGY NY, LLC | ||||
DYNEGY POWER, LLC | VIRIDIAN NETWORK, LLC | ||||
DYNEGY RESOURCE II, LLC | VISTRA ASSET COMPANY LLC | ||||
DYNEGY RESOURCES GENERATING HOLDCO, LLC | VISTRA CORPORATE SERVICES COMPANY | ||||
DYNEGY SOUTH BAY, LLC | VISTRA EP PROPERTIES COMPANY | ||||
DYNEGY STUART, LLC | VISTRA FINANCE CORP. | ||||
DYNEGY WASHINGTON II, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
DYNEGY ZIMMER, LLC | VISTRA PREFERRED INC. | ||||
EMERALD GROVE SOLAR, LLC | VOLT ASSET COMPANY, INC. | ||||
ENERGY REWARDS, LLC | WHARTON COUNTY GENERATION, LLC | ||||
ENERGY SOLUTIONS GROUP, LLC | WISE COUNTY POWER COMPANY, LLC | ||||
ENNIS POWER COMPANY, LLC |
WISE-FUELS PIPELINE, INC.,
|
||||
EQUIPOWER RESOURCES CORP. |
Name | Jurisdiction | ||||
Moss Landing Energy Storage 2, LLC | Delaware | ||||
North Jersey Energy Holdings, LLC | Delaware | ||||
North Jersey Energy Associates, A Limited Partnership | New Jersey |
COLETO CREEK ENERGY STORAGE LLC | ||
FOREST GROVE SOLAR LLC | ||
MORRO BAY ENERGY STORAGE 1, LLC | ||
MORRO BAY ENERGY STORAGE 2, LLC | ||
MOSS LANDING ENERGY STORAGE 3, LLC | ||
MOSS LANDING ENERGY STORAGE 4, LLC | ||
OAK HILL SOLAR LLC | ||
OAKLAND ENERGY STORAGE 1, LLC | ||
OAKLAND ENERGY STORAGE 2, LLC | ||
OAKLAND ENERGY STORAGE 3, LLC | ||
RENEWABLE ENERGY VENTURES, LLC
TRINIDAD POWER STORAGE LLC,
|
||
as the Guaranteeing Subsidiaries |
AMBIT CALIFORNIA, LLC | KINCAID GENERATION, L.L.C. | ||||
AMBIT ENERGY HOLDINGS, LLC | LA FRONTERA HOLDINGS, LLC | ||||
AMBIT HOLDINGS, LLC | LAKE ROAD GENERATING COMPANY, LLC | ||||
AMBIT ILLINOIS, LLC | LIBERTY ELECTRIC POWER, LLC | ||||
AMBIT MARKETING, LLC | LONE STAR ENERGY COMPANY, INC. | ||||
AMBIT MIDWEST, LLC | LONE STAR PIPELINE COMPANY, INC. | ||||
AMBIT NEW YORK, LLC | LUMINANT ENERGY COMPANY LLC | ||||
AMBIT NORTHEAST, LLC | LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ||||
AMBIT TEXAS, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
ANP BELLINGHAM ENERGY COMPANY, LLC | LUMINANT GENERATION COMPANY LLC | ||||
ANP BLACKSTONE ENERGY COMPANY, LLC | LUMINANT MINING COMPANY LLC | ||||
BIG BROWN POWER COMPANY LLC | LUMINANT POWER GENERATION INC. | ||||
BIG SKY GAS, LLC | LUMINANT POWER LLC | ||||
BIG SKY GAS HOLDINGS, LLC | MASSPOWER, LLC | ||||
BLUENET HOLDINGS, LLC | MIDLOTHIAN ENERGY, LLC | ||||
BRIGHTSIDE SOLAR, LLC | MILFORD POWER COMPANY, LLC | ||||
CALUMET ENERGY TEAM, LLC | MORRO BAY POWER COMPANY LLC | ||||
CASCO BAY ENERGY COMPANY, LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
CINCINNATI BELL ENERGY LLC | MOSS LANDING ENERGY STORAGE 2, LLC | ||||
COFFEEN AND WESTERN RAILROAD COMPANY | MOSS LANDING POWER COMPANY LLC | ||||
COLETO CREEK POWER, LLC | NCA RESOURCES DEVELOPMENT COMPANY LLC | ||||
COMANCHE PEAK POWER COMPANY LLC | NEPCO SERVICES COMPANY | ||||
CORE SOLAR SPV I, LLC | NORTHEASTERN POWER COMPANY | ||||
CRIUS ENERGY, LLC | NORTH JERSEY ENERGY HOLDINGS, LLC | ||||
CRIUS ENERGY CORPORATION | NORTH JERSEY ENERGY ASSOCIATES, A LIMITED PARTNERSHIP | ||||
CRIUS SOLAR FULFILLMENT, LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
DALLAS POWER & LIGHT COMPANY, INC. | OAKLAND POWER COMPANY LLC | ||||
DYNEGY ADMINISTRATIVE SERVICES COMPANY | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
DYNEGY COAL GENERATION, LLC | PLEASANTS ENERGY, LLC | ||||
DYNEGY COAL HOLDCO, LLC | PUBLIC POWER & UTILITY OF MARYLAND, LLC | ||||
DYNEGY COAL TRADING & TRANSPORTATION, L.L.C. | PUBLIC POWER & UTILITY OF NY, INC. | ||||
DYNEGY COMMERCIAL ASSET MANAGEMENT, LLC |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
DYNEGY CONESVILLE, LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
DYNEGY DICKS CREEK, LLC | RENEWABLE ENERGY VENTURES, LLC | ||||
DYNEGY ENERGY SERVICES (EAST), LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
DYNEGY ENERGY SERVICES, LLC | RICHLAND-STRYKER GENERATION LLC | ||||
DYNEGY FAYETTE II, LLC | SANDOW POWER COMPANY LLC | ||||
DYNEGY GAS IMPORTS, LLC | SITHE ENERGIES, INC. | ||||
DYNEGY HANGING ROCK II, LLC | SITHE/INDEPENDENCE LLC | ||||
DYNEGY KENDALL ENERGY, LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. |
DYNEGY KILLEN, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY MARKETING AND TRADE, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
DYNEGY MIAMI FORT, LLC | TEXAS POWER & LIGHT COMPANY, INC. | ||||
DYNEGY MIDWEST GENERATION, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
DYNEGY NORTHEAST GENERATION GP, INC. | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
DYNEGY OPERATING COMPANY | TRIEAGLE 1, LLC | ||||
DYNEGY POWER MARKETING, LLC | TRIEAGLE 2, LLC | ||||
DYNEGY RESOURCES GENERATING HOLDCO, LLC | TRIEAGLE ENERGY LP | ||||
DYNEGY SOUTH BAY, LLC | TXU ELECTRIC COMPANY, INC. | ||||
DYNEGY STUART, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
DYNEGY WASHINGTON II, LLC | TXU RETAIL SERVICES COMPANY | ||||
DYNEGY ZIMMER, LLC | UPTON COUNTY SOLAR 2, LLC | ||||
EMERALD GROVE SOLAR, LLC | VALUE BASED BRANDS LLC | ||||
ENERGY REWARDS, LLC | VIRIDIAN ENERGY, LLC | ||||
ENNIS POWER COMPANY, LLC | VIRIDIAN ENERGY PA LLC | ||||
EQUIPOWER RESOURCES CORP. | VIRIDIAN ENERGY NY, LLC | ||||
EVERYDAY ENERGY NJ, LLC | VIRIDIAN NETWORK, LLC | ||||
EVERYDAY ENERGY, LLC | VISTRA ASSET COMPANY LLC | ||||
GENERATION SVC COMPANY | VISTRA CORPORATE SERVICES COMPANY | ||||
HALLMARK SOLAR, LLC | VISTRA EP PROPERTIES COMPANY | ||||
HAYS ENERGY, LLC | VISTRA FINANCE CORP. | ||||
HOPEWELL POWER GENERATION, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
ILLINOIS POWER GENERATING COMPANY | VISTRA PREFERRED INC. | ||||
ILLINOIS POWER MARKETING COMPANY | VOLT ASSET COMPANY, INC. | ||||
ILLINOIS POWER RESOURCES GENERATING, LLC | WHARTON COUNTY GENERATION, LLC | ||||
ILLINOIS POWER RESOURCES, LLC | WISE COUNTY POWER COMPANY, LLC | ||||
ILLINOVA CORPORATION |
WISE-FUELS PIPELINE, INC.,
|
||||
IPH, LLC |
Name | Jurisdiction | ||||
Coleto Creek Energy Storage LLC | Delaware | ||||
Forest Grove Solar LLC | Delaware | ||||
Morro Bay Energy Storage 1, LLC | Delaware | ||||
Morro Bay Energy Storage 2, LLC | Delaware | ||||
Moss Landing Energy Storage 3, LLC | Delaware | ||||
Moss Landing Energy Storage 4, LLC | Delaware | ||||
Oak Hill Solar LLC | Delaware | ||||
Oakland Energy Storage 1, LLC | Delaware | ||||
Oakland Energy Storage 2, LLC | Delaware | ||||
Oakland Energy Storage 3, LLC | Delaware | ||||
Renewable Energy Ventures, LLC | Delaware | ||||
Trinidad Power Storage LLC | Delaware |
AMBIT CALIFORNIA, LLC | EVERYDAY ENERGY NJ, LLC | ||||
AMBIT ENERGY HOLDINGS, LLC | EVERYDAY ENERGY, LLC | ||||
AMBIT HOLDINGS US, LLC | GENERATION SVC COMPANY | ||||
AMBIT HOLDINGS, LLC | HALLMARK SOLAR, LLC | ||||
AMBIT ILLINOIS, LLC | HAVANA DOCK ENTERPRISES, LLC | ||||
AMBIT MANAGEMENT, LLC | HAYS ENERGY, LLC | ||||
AMBIT MARKETING, LLC | HOPEWELL POWER GENERATION, LLC | ||||
AMBIT MIDWEST, LLC | ILLINOIS POWER GENERATING COMPANY | ||||
AMBIT NEW YORK, LLC | ILLINOIS POWER MARKETING COMPANY | ||||
AMBIT NORTHEAST, LLC | ILLINOIS POWER RESOURCES GENERATING, LLC | ||||
AMBIT OHIO, LLC | ILLINOIS POWER RESOURCES, LLC | ||||
AMBIT SOUTHEAST, LLC | ILLINOVA CORPORATION | ||||
AMBIT SOUTHWEST, LLC | IPH, LLC | ||||
AMBIT TEXAS, LLC | KINCAID GENERATION, L.L.C. | ||||
ANP BELLINGHAM ENERGY COMPANY, LLC | LA FRONTERA HOLDINGS, LLC | ||||
ANP BLACKSTONE ENERGY COMPANY, LLC | LAKE ROAD GENERATING COMPANY, LLC | ||||
BIG BROWN POWER COMPANY LLC | LIBERTY ELECTRIC POWER, LLC | ||||
BIG SKY GAS, LLC | LONE STAR ENERGY COMPANY, INC. | ||||
BIG SKY GAS HOLDINGS, LLC | LONE STAR PIPELINE COMPANY, INC. | ||||
BLUENET HOLDINGS, LLC | LUMINANT ENERGY COMPANY LLC | ||||
BRIGHTSIDE SOLAR, LLC | LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ||||
CALUMET ENERGY TEAM, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
CASCO BAY ENERGY COMPANY, LLC | LUMINANT GENERATION COMPANY LLC | ||||
CINCINNATI BELL ENERGY, LLC | LUMINANT MINING COMPANY LLC | ||||
COFFEEN AND WESTERN RAILROAD COMPANY | MASSPOWER, LLC | ||||
COLETO CREEK POWER, LLC | MIDLOTHIAN ENERGY, LLC | ||||
COMANCHE PEAK POWER COMPANY LLC | MILFORD POWER COMPANY, LLC | ||||
CORE SOLAR SPV I, LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
CRIUS ENERGY, LLC | NCA RESOURCES DEVELOPMENT COMPANY LLC | ||||
CRIUS ENERGY CORPORATION | NEPCO SERVICES COMPANY | ||||
CRIUS ENERGY MANAGEMENT, LLC | NORTHEASTERN POWER COMPANY | ||||
CRIUS ENERGY MANAGEMENT 2, LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
CRIUS SOLAR FULFILLMENT, LLC | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
CRIUS SOLAR HOLDINGS, LLC | PLEASANTS ENERGY, LLC | ||||
CRIUS SOLAR, LLC | PEOPLE’S CHOICE ENERGY, LLC | ||||
DALLAS POWER & LIGHT COMPANY, INC. | PUBLIC POWER & UTILITY OF MARYLAND, LLC | ||||
DYNEGY ADMINISTRATIVE SERVICES COMPANY | PUBLIC POWER & UTILITY OF NY, INC. | ||||
DYNEGY ASSOCIATES NORTHEAST LP, INC. |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
DYNEGY COAL GENERATION, LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
DYNEGY COAL HOLDCO, LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
DYNEGY COAL TRADING & TRANSPORTATION, L.L.C. | RICHLAND-STRYKER GENERATION LLC |
DYNEGY COMMERCIAL ASSET MANAGEMENT, LLC | SANDOW POWER COMPANY LLC | ||||
DYNEGY CONESVILLE, LLC | SITHE ENERGIES, INC. | ||||
DYNEGY DICKS CREEK, LLC | SITHE/INDEPENDENCE LLC | ||||
DYNEGY ENERGY SERVICES (EAST), LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY ENERGY SERVICES, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY FAYETTE II, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
DYNEGY GAS IMPORTS, LLC | TEXAS POWER & LIGHT COMPANY, INC. | ||||
DYNEGY HANGING ROCK II, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
DYNEGY KENDALL ENERGY, LLC | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
DYNEGY KILLEN, LLC | TRIEAGLE 1, LLC | ||||
DYNEGY MARKETING AND TRADE, LLC | TRIEAGLE 2, LLC | ||||
DYNEGY MIAMI FORT, LLC | TRIEAGLE ENERGY LP | ||||
DYNEGY MIDWEST GENERATION, LLC | TXU ELECTRIC COMPANY, INC. | ||||
DYNEGY MORRO BAY, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
DYNEGY MOSS LANDING, LLC | TXU RETAIL SERVICES COMPANY | ||||
DYNEGY NORTHEAST GENERATION GP, INC. | UPTON COUNTY SOLAR 2, LLC | ||||
DYNEGY OAKLAND, LLC | VALUE BASED BRANDS LLC | ||||
DYNEGY OPERATING COMPANY | VIRIDIAN ENERGY, LLC | ||||
DYNEGY POWER GENERATION INC. | VIRIDIAN ENERGY PA LLC | ||||
DYNEGY POWER MARKETING, LLC | VIRIDIAN ENERGY NY, LLC | ||||
DYNEGY POWER, LLC | VIRIDIAN NETWORK, LLC | ||||
DYNEGY RESOURCE II, LLC | VISTRA ASSET COMPANY LLC | ||||
DYNEGY RESOURCES GENERATING HOLDCO, LLC | VISTRA CORPORATE SERVICES COMPANY | ||||
DYNEGY SOUTH BAY, LLC | VISTRA EP PROPERTIES COMPANY | ||||
DYNEGY STUART, LLC | VISTRA FINANCE CORP. | ||||
DYNEGY WASHINGTON II, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
DYNEGY ZIMMER, LLC | VISTRA PREFERRED INC. | ||||
EMERALD GROVE SOLAR, LLC | VOLT ASSET COMPANY, INC. | ||||
ENERGY REWARDS, LLC | WHARTON COUNTY GENERATION, LLC | ||||
ENERGY SOLUTIONS GROUP, LLC | WISE COUNTY POWER COMPANY, LLC | ||||
ENNIS POWER COMPANY, LLC |
WISE-FUELS PIPELINE, INC.,
|
||||
EQUIPOWER RESOURCES CORP. |
Name | Jurisdiction | ||||
Moss Landing Energy Storage 2, LLC | Delaware | ||||
North Jersey Energy Holdings, LLC | Delaware | ||||
North Jersey Energy Associates, A Limited Partnership | New Jersey |
COLETO CREEK ENERGY STORAGE LLC | ||
FOREST GROVE SOLAR LLC | ||
MORRO BAY ENERGY STORAGE 1, LLC | ||
MORRO BAY ENERGY STORAGE 2, LLC | ||
MOSS LANDING ENERGY STORAGE 3, LLC | ||
MOSS LANDING ENERGY STORAGE 4, LLC | ||
OAK HILL SOLAR LLC | ||
OAKLAND ENERGY STORAGE 1, LLC | ||
OAKLAND ENERGY STORAGE 2, LLC | ||
OAKLAND ENERGY STORAGE 3, LLC | ||
RENEWABLE ENERGY VENTURES, LLC
TRINIDAD POWER STORAGE LLC,
|
||
TRINIDAD POWER STORAGE LLC
TRINIDAD POWER STORAGE LLC
,
|
||
as the Guaranteeing Subsidiaries |
AMBIT CALIFORNIA, LLC | KINCAID GENERATION, L.L.C. | ||||
AMBIT ENERGY HOLDINGS, LLC | LA FRONTERA HOLDINGS, LLC | ||||
AMBIT HOLDINGS, LLC | LAKE ROAD GENERATING COMPANY, LLC | ||||
AMBIT ILLINOIS, LLC | LIBERTY ELECTRIC POWER, LLC | ||||
AMBIT MARKETING, LLC | LONE STAR ENERGY COMPANY, INC. | ||||
AMBIT MIDWEST, LLC | LONE STAR PIPELINE COMPANY, INC. | ||||
AMBIT NEW YORK, LLC | LUMINANT ENERGY COMPANY LLC | ||||
AMBIT NORTHEAST, LLC | LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ||||
AMBIT TEXAS, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
ANP BELLINGHAM ENERGY COMPANY, LLC | LUMINANT GENERATION COMPANY LLC | ||||
ANP BLACKSTONE ENERGY COMPANY, LLC | LUMINANT MINING COMPANY LLC | ||||
BIG BROWN POWER COMPANY LLC | LUMINANT POWER GENERATION INC. | ||||
BIG SKY GAS, LLC | LUMINANT POWER LLC | ||||
BIG SKY GAS HOLDINGS, LLC | MASSPOWER, LLC | ||||
BLUENET HOLDINGS, LLC | MIDLOTHIAN ENERGY, LLC | ||||
BRIGHTSIDE SOLAR, LLC | MILFORD POWER COMPANY, LLC | ||||
CALUMET ENERGY TEAM, LLC | MORRO BAY POWER COMPANY LLC | ||||
CASCO BAY ENERGY COMPANY, LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
CINCINNATI BELL ENERGY LLC | MOSS LANDING ENERGY STORAGE 2, LLC | ||||
COFFEEN AND WESTERN RAILROAD COMPANY | MOSS LANDING POWER COMPANY LLC | ||||
COLETO CREEK POWER, LLC | NCA RESOURCES DEVELOPMENT COMPANY LLC | ||||
COMANCHE PEAK POWER COMPANY LLC | NEPCO SERVICES COMPANY | ||||
CORE SOLAR SPV I, LLC | NORTHEASTERN POWER COMPANY | ||||
CRIUS ENERGY, LLC | NORTH JERSEY ENERGY HOLDINGS, LLC | ||||
CRIUS ENERGY CORPORATION | NORTH JERSEY ENERGY ASSOCIATES, A LIMITED PARTNERSHIP | ||||
CRIUS SOLAR FULFILLMENT, LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
DALLAS POWER & LIGHT COMPANY, INC. | OAKLAND POWER COMPANY LLC | ||||
DYNEGY ADMINISTRATIVE SERVICES COMPANY | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
DYNEGY COAL GENERATION, LLC | PLEASANTS ENERGY, LLC | ||||
DYNEGY COAL HOLDCO, LLC | PUBLIC POWER & UTILITY OF MARYLAND, LLC | ||||
DYNEGY COAL TRADING & TRANSPORTATION, L.L.C. | PUBLIC POWER & UTILITY OF NY, INC. | ||||
DYNEGY COMMERCIAL ASSET MANAGEMENT, LLC |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
DYNEGY CONESVILLE, LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
DYNEGY DICKS CREEK, LLC | RENEWABLE ENERGY VENTURES, LLC | ||||
DYNEGY ENERGY SERVICES (EAST), LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
DYNEGY ENERGY SERVICES, LLC | RICHLAND-STRYKER GENERATION LLC | ||||
DYNEGY FAYETTE II, LLC | SANDOW POWER COMPANY LLC | ||||
DYNEGY GAS IMPORTS, LLC | SITHE ENERGIES, INC. | ||||
DYNEGY HANGING ROCK II, LLC | SITHE/INDEPENDENCE LLC | ||||
DYNEGY KENDALL ENERGY, LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. |
DYNEGY KILLEN, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY MARKETING AND TRADE, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
DYNEGY MIAMI FORT, LLC | TEXAS POWER & LIGHT COMPANY, INC. | ||||
DYNEGY MIDWEST GENERATION, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
DYNEGY NORTHEAST GENERATION GP, INC. | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
DYNEGY OPERATING COMPANY | TRIEAGLE 1, LLC | ||||
DYNEGY POWER MARKETING, LLC | TRIEAGLE 2, LLC | ||||
DYNEGY RESOURCES GENERATING HOLDCO, LLC | TRIEAGLE ENERGY LP | ||||
DYNEGY SOUTH BAY, LLC | TXU ELECTRIC COMPANY, INC. | ||||
DYNEGY STUART, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
DYNEGY WASHINGTON II, LLC | TXU RETAIL SERVICES COMPANY | ||||
DYNEGY ZIMMER, LLC | UPTON COUNTY SOLAR 2, LLC | ||||
EMERALD GROVE SOLAR, LLC | VALUE BASED BRANDS LLC | ||||
ENERGY REWARDS, LLC | VIRIDIAN ENERGY, LLC | ||||
ENNIS POWER COMPANY, LLC | VIRIDIAN ENERGY PA LLC | ||||
EQUIPOWER RESOURCES CORP. | VIRIDIAN ENERGY NY, LLC | ||||
EVERYDAY ENERGY NJ, LLC | VIRIDIAN NETWORK, LLC | ||||
EVERYDAY ENERGY, LLC | VISTRA ASSET COMPANY LLC | ||||
GENERATION SVC COMPANY | VISTRA CORPORATE SERVICES COMPANY | ||||
HALLMARK SOLAR, LLC | VISTRA EP PROPERTIES COMPANY | ||||
HAYS ENERGY, LLC | VISTRA FINANCE CORP. | ||||
HOPEWELL POWER GENERATION, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
ILLINOIS POWER GENERATING COMPANY | VISTRA PREFERRED INC. | ||||
ILLINOIS POWER MARKETING COMPANY | VOLT ASSET COMPANY, INC. | ||||
ILLINOIS POWER RESOURCES GENERATING, LLC | WHARTON COUNTY GENERATION, LLC | ||||
ILLINOIS POWER RESOURCES, LLC | WISE COUNTY POWER COMPANY, LLC | ||||
ILLINOVA CORPORATION |
WISE-FUELS PIPELINE, INC.,
|
||||
IPH, LLC | |||||
Name | Jurisdiction | ||||
Coleto Creek Energy Storage LLC | Delaware | ||||
Forest Grove Solar LLC | Delaware | ||||
Morro Bay Energy Storage 1, LLC | Delaware | ||||
Morro Bay Energy Storage 2, LLC | Delaware | ||||
Moss Landing Energy Storage 3, LLC | Delaware | ||||
Moss Landing Energy Storage 4, LLC | Delaware | ||||
Oak Hill Solar LLC | Delaware | ||||
Oakland Energy Storage 1, LLC | Delaware | ||||
Oakland Energy Storage 2, LLC | Delaware | ||||
Oakland Energy Storage 3, LLC | Delaware | ||||
Renewable Energy Ventures, LLC | Delaware | ||||
Trinidad Power Storage LLC | Delaware |
AMBIT CALIFORNIA, LLC | EVERYDAY ENERGY NJ, LLC | ||||
AMBIT ENERGY HOLDINGS, LLC | EVERYDAY ENERGY, LLC | ||||
AMBIT HOLDINGS US, LLC | GENERATION SVC COMPANY | ||||
AMBIT HOLDINGS, LLC | HALLMARK SOLAR, LLC | ||||
AMBIT ILLINOIS, LLC | HAVANA DOCK ENTERPRISES, LLC | ||||
AMBIT MANAGEMENT, LLC | HAYS ENERGY, LLC | ||||
AMBIT MARKETING, LLC | HOPEWELL POWER GENERATION, LLC | ||||
AMBIT MIDWEST, LLC | ILLINOIS POWER GENERATING COMPANY | ||||
AMBIT NEW YORK, LLC | ILLINOIS POWER MARKETING COMPANY | ||||
AMBIT NORTHEAST, LLC | ILLINOIS POWER RESOURCES GENERATING, LLC | ||||
AMBIT OHIO, LLC | ILLINOIS POWER RESOURCES, LLC | ||||
AMBIT SOUTHEAST, LLC | ILLINOVA CORPORATION | ||||
AMBIT SOUTHWEST, LLC | IPH, LLC | ||||
AMBIT TEXAS, LLC | KINCAID GENERATION, L.L.C. | ||||
ANP BELLINGHAM ENERGY COMPANY, LLC | LA FRONTERA HOLDINGS, LLC | ||||
ANP BLACKSTONE ENERGY COMPANY, LLC | LAKE ROAD GENERATING COMPANY, LLC | ||||
BIG BROWN POWER COMPANY LLC | LIBERTY ELECTRIC POWER, LLC | ||||
BIG SKY GAS, LLC | LONE STAR ENERGY COMPANY, INC. | ||||
BIG SKY GAS HOLDINGS, LLC | LONE STAR PIPELINE COMPANY, INC. | ||||
BLUENET HOLDINGS, LLC | LUMINANT ENERGY COMPANY LLC | ||||
BRIGHTSIDE SOLAR, LLC | LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ||||
CALUMET ENERGY TEAM, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
CASCO BAY ENERGY COMPANY, LLC | LUMINANT GENERATION COMPANY LLC | ||||
CINCINNATI BELL ENERGY, LLC | LUMINANT MINING COMPANY LLC | ||||
COFFEEN AND WESTERN RAILROAD COMPANY | MASSPOWER, LLC | ||||
COLETO CREEK POWER, LLC | MIDLOTHIAN ENERGY, LLC | ||||
COMANCHE PEAK POWER COMPANY LLC | MILFORD POWER COMPANY, LLC | ||||
CORE SOLAR SPV I, LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
CRIUS ENERGY, LLC | NCA RESOURCES DEVELOPMENT COMPANY LLC | ||||
CRIUS ENERGY CORPORATION | NEPCO SERVICES COMPANY | ||||
CRIUS ENERGY MANAGEMENT, LLC | NORTHEASTERN POWER COMPANY | ||||
CRIUS ENERGY MANAGEMENT 2, LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
CRIUS SOLAR FULFILLMENT, LLC | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
CRIUS SOLAR HOLDINGS, LLC | PLEASANTS ENERGY, LLC | ||||
CRIUS SOLAR, LLC | PEOPLE’S CHOICE ENERGY, LLC | ||||
DALLAS POWER & LIGHT COMPANY, INC. | PUBLIC POWER & UTILITY OF MARYLAND, LLC | ||||
DYNEGY ADMINISTRATIVE SERVICES COMPANY | PUBLIC POWER & UTILITY OF NY, INC. | ||||
DYNEGY ASSOCIATES NORTHEAST LP, INC. |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
DYNEGY COAL GENERATION, LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
DYNEGY COAL HOLDCO, LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
DYNEGY COAL TRADING & TRANSPORTATION, L.L.C. | RICHLAND-STRYKER GENERATION LLC |
DYNEGY COMMERCIAL ASSET MANAGEMENT, LLC | SANDOW POWER COMPANY LLC | ||||
DYNEGY CONESVILLE, LLC | SITHE ENERGIES, INC. | ||||
DYNEGY DICKS CREEK, LLC | SITHE/INDEPENDENCE LLC | ||||
DYNEGY ENERGY SERVICES (EAST), LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY ENERGY SERVICES, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY FAYETTE II, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
DYNEGY GAS IMPORTS, LLC | TEXAS POWER & LIGHT COMPANY, INC. | ||||
DYNEGY HANGING ROCK II, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
DYNEGY KENDALL ENERGY, LLC | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
DYNEGY KILLEN, LLC | TRIEAGLE 1, LLC | ||||
DYNEGY MARKETING AND TRADE, LLC | TRIEAGLE 2, LLC | ||||
DYNEGY MIAMI FORT, LLC | TRIEAGLE ENERGY LP | ||||
DYNEGY MIDWEST GENERATION, LLC | TXU ELECTRIC COMPANY, INC. | ||||
DYNEGY MORRO BAY, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
DYNEGY MOSS LANDING, LLC | TXU RETAIL SERVICES COMPANY | ||||
DYNEGY NORTHEAST GENERATION GP, INC. | UPTON COUNTY SOLAR 2, LLC | ||||
DYNEGY OAKLAND, LLC | VALUE BASED BRANDS LLC | ||||
DYNEGY OPERATING COMPANY | VIRIDIAN ENERGY, LLC | ||||
DYNEGY POWER GENERATION INC. | VIRIDIAN ENERGY PA LLC | ||||
DYNEGY POWER MARKETING, LLC | VIRIDIAN ENERGY NY, LLC | ||||
DYNEGY POWER, LLC | VIRIDIAN NETWORK, LLC | ||||
DYNEGY RESOURCE II, LLC | VISTRA ASSET COMPANY LLC | ||||
DYNEGY RESOURCES GENERATING HOLDCO, LLC | VISTRA CORPORATE SERVICES COMPANY | ||||
DYNEGY SOUTH BAY, LLC | VISTRA EP PROPERTIES COMPANY | ||||
DYNEGY STUART, LLC | VISTRA FINANCE CORP. | ||||
DYNEGY WASHINGTON II, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
DYNEGY ZIMMER, LLC | VISTRA PREFERRED INC. | ||||
EMERALD GROVE SOLAR, LLC | VOLT ASSET COMPANY, INC. | ||||
ENERGY REWARDS, LLC | WHARTON COUNTY GENERATION, LLC | ||||
ENERGY SOLUTIONS GROUP, LLC | WISE COUNTY POWER COMPANY, LLC | ||||
ENNIS POWER COMPANY, LLC |
WISE-FUELS PIPELINE, INC.,
|
||||
EQUIPOWER RESOURCES CORP. |
Name | Jurisdiction | ||||
Moss Landing Energy Storage 2, LLC | Delaware | ||||
North Jersey Energy Holdings, LLC | Delaware | ||||
North Jersey Energy Associates, A Limited Partnership | New Jersey |
COLETO CREEK ENERGY STORAGE LLC | ||
FOREST GROVE SOLAR LLC | ||
MORRO BAY ENERGY STORAGE 1, LLC | ||
MORRO BAY ENERGY STORAGE 2, LLC | ||
MOSS LANDING ENERGY STORAGE 3, LLC | ||
MOSS LANDING ENERGY STORAGE 4, LLC | ||
OAK HILL SOLAR LLC | ||
OAKLAND ENERGY STORAGE 1, LLC | ||
OAKLAND ENERGY STORAGE 2, LLC | ||
OAKLAND ENERGY STORAGE 3, LLC | ||
RENEWABLE ENERGY VENTURES, LLC
TRINIDAD POWER STORAGE LLC,
|
||
as the Guaranteeing Subsidiaries |
AMBIT CALIFORNIA, LLC | KINCAID GENERATION, L.L.C. | ||||
AMBIT ENERGY HOLDINGS, LLC | LA FRONTERA HOLDINGS, LLC | ||||
AMBIT HOLDINGS, LLC | LAKE ROAD GENERATING COMPANY, LLC | ||||
AMBIT ILLINOIS, LLC | LIBERTY ELECTRIC POWER, LLC | ||||
AMBIT MARKETING, LLC | LONE STAR ENERGY COMPANY, INC. | ||||
AMBIT MIDWEST, LLC | LONE STAR PIPELINE COMPANY, INC. | ||||
AMBIT NEW YORK, LLC | LUMINANT ENERGY COMPANY LLC | ||||
AMBIT NORTHEAST, LLC | LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ||||
AMBIT TEXAS, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
ANP BELLINGHAM ENERGY COMPANY, LLC | LUMINANT GENERATION COMPANY LLC | ||||
ANP BLACKSTONE ENERGY COMPANY, LLC | LUMINANT MINING COMPANY LLC | ||||
BIG BROWN POWER COMPANY LLC | LUMINANT POWER GENERATION INC. | ||||
BIG SKY GAS, LLC | LUMINANT POWER LLC | ||||
BIG SKY GAS HOLDINGS, LLC | MASSPOWER, LLC | ||||
BLUENET HOLDINGS, LLC | MIDLOTHIAN ENERGY, LLC | ||||
BRIGHTSIDE SOLAR, LLC | MILFORD POWER COMPANY, LLC | ||||
CALUMET ENERGY TEAM, LLC | MORRO BAY POWER COMPANY LLC | ||||
CASCO BAY ENERGY COMPANY, LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
CINCINNATI BELL ENERGY LLC | MOSS LANDING ENERGY STORAGE 2, LLC | ||||
COFFEEN AND WESTERN RAILROAD COMPANY | MOSS LANDING POWER COMPANY LLC | ||||
COLETO CREEK POWER, LLC | NCA RESOURCES DEVELOPMENT COMPANY LLC | ||||
COMANCHE PEAK POWER COMPANY LLC | NEPCO SERVICES COMPANY | ||||
CORE SOLAR SPV I, LLC | NORTHEASTERN POWER COMPANY | ||||
CRIUS ENERGY, LLC | NORTH JERSEY ENERGY HOLDINGS, LLC | ||||
CRIUS ENERGY CORPORATION | NORTH JERSEY ENERGY ASSOCIATES, A LIMITED PARTNERSHIP | ||||
CRIUS SOLAR FULFILLMENT, LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
DALLAS POWER & LIGHT COMPANY, INC. | OAKLAND POWER COMPANY LLC | ||||
DYNEGY ADMINISTRATIVE SERVICES COMPANY | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
DYNEGY COAL GENERATION, LLC | PLEASANTS ENERGY, LLC | ||||
DYNEGY COAL HOLDCO, LLC | PUBLIC POWER & UTILITY OF MARYLAND, LLC | ||||
DYNEGY COAL TRADING & TRANSPORTATION, L.L.C. | PUBLIC POWER & UTILITY OF NY, INC. | ||||
DYNEGY COMMERCIAL ASSET MANAGEMENT, LLC |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
DYNEGY CONESVILLE, LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
DYNEGY DICKS CREEK, LLC | RENEWABLE ENERGY VENTURES, LLC | ||||
DYNEGY ENERGY SERVICES (EAST), LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
DYNEGY ENERGY SERVICES, LLC | RICHLAND-STRYKER GENERATION LLC | ||||
DYNEGY FAYETTE II, LLC | SANDOW POWER COMPANY LLC | ||||
DYNEGY GAS IMPORTS, LLC | SITHE ENERGIES, INC. | ||||
DYNEGY HANGING ROCK II, LLC | SITHE/INDEPENDENCE LLC | ||||
DYNEGY KENDALL ENERGY, LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. |
DYNEGY KILLEN, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY MARKETING AND TRADE, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
DYNEGY MIAMI FORT, LLC | TEXAS POWER & LIGHT COMPANY, INC. | ||||
DYNEGY MIDWEST GENERATION, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
DYNEGY NORTHEAST GENERATION GP, INC. | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
DYNEGY OPERATING COMPANY | TRIEAGLE 1, LLC | ||||
DYNEGY POWER MARKETING, LLC | TRIEAGLE 2, LLC | ||||
DYNEGY RESOURCES GENERATING HOLDCO, LLC | TRIEAGLE ENERGY LP | ||||
DYNEGY SOUTH BAY, LLC | TXU ELECTRIC COMPANY, INC. | ||||
DYNEGY STUART, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
DYNEGY WASHINGTON II, LLC | TXU RETAIL SERVICES COMPANY | ||||
DYNEGY ZIMMER, LLC | UPTON COUNTY SOLAR 2, LLC | ||||
EMERALD GROVE SOLAR, LLC | VALUE BASED BRANDS LLC | ||||
ENERGY REWARDS, LLC | VIRIDIAN ENERGY, LLC | ||||
ENNIS POWER COMPANY, LLC | VIRIDIAN ENERGY PA LLC | ||||
EQUIPOWER RESOURCES CORP. | VIRIDIAN ENERGY NY, LLC | ||||
EVERYDAY ENERGY NJ, LLC | VIRIDIAN NETWORK, LLC | ||||
EVERYDAY ENERGY, LLC | VISTRA ASSET COMPANY LLC | ||||
GENERATION SVC COMPANY | VISTRA CORPORATE SERVICES COMPANY | ||||
HALLMARK SOLAR, LLC | VISTRA EP PROPERTIES COMPANY | ||||
HAYS ENERGY, LLC | VISTRA FINANCE CORP. | ||||
HOPEWELL POWER GENERATION, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
ILLINOIS POWER GENERATING COMPANY | VISTRA PREFERRED INC. | ||||
ILLINOIS POWER MARKETING COMPANY | VOLT ASSET COMPANY, INC. | ||||
ILLINOIS POWER RESOURCES GENERATING, LLC | WHARTON COUNTY GENERATION, LLC | ||||
ILLINOIS POWER RESOURCES, LLC | WISE COUNTY POWER COMPANY, LLC | ||||
ILLINOVA CORPORATION |
WISE-FUELS PIPELINE, INC.,
|
||||
IPH, LLC | |||||
Name | Jurisdiction | ||||
Coleto Creek Energy Storage LLC | Delaware | ||||
Forest Grove Solar LLC | Delaware | ||||
Morro Bay Energy Storage 1, LLC | Delaware | ||||
Morro Bay Energy Storage 2, LLC | Delaware | ||||
Moss Landing Energy Storage 3, LLC | Delaware | ||||
Moss Landing Energy Storage 4, LLC | Delaware | ||||
Oak Hill Solar LLC | Delaware | ||||
Oakland Energy Storage 1, LLC | Delaware | ||||
Oakland Energy Storage 2, LLC | Delaware | ||||
Oakland Energy Storage 3, LLC | Delaware | ||||
Renewable Energy Ventures, LLC | Delaware | ||||
Trinidad Power Storage LLC | Delaware |
MOSS LANDING ENERGY STORAGE 2, LLC
NORTH JERSEY ENERGY HOLDINGS, LLC
NORTH JERSEY ENERGY ASSOCIATES, A LIMITED PARTNERSHIP, by its general partner,
NORTH JERSEY ENERGY HOLDINGS, LLC,
|
||
as the Guaranteeing Subsidiaries |
AMBIT CALIFORNIA, LLC | EVERYDAY ENERGY NJ, LLC | ||||
AMBIT ENERGY HOLDINGS, LLC | EVERYDAY ENERGY, LLC | ||||
AMBIT HOLDINGS US, LLC | GENERATION SVC COMPANY | ||||
AMBIT HOLDINGS, LLC | HALLMARK SOLAR, LLC | ||||
AMBIT ILLINOIS, LLC | HAVANA DOCK ENTERPRISES, LLC | ||||
AMBIT MANAGEMENT, LLC | HAYS ENERGY, LLC | ||||
AMBIT MARKETING, LLC | HOPEWELL POWER GENERATION, LLC | ||||
AMBIT MIDWEST, LLC | ILLINOIS POWER GENERATING COMPANY | ||||
AMBIT NEW YORK, LLC | ILLINOIS POWER MARKETING COMPANY | ||||
AMBIT NORTHEAST, LLC | ILLINOIS POWER RESOURCES GENERATING, LLC | ||||
AMBIT OHIO, LLC | ILLINOIS POWER RESOURCES, LLC | ||||
AMBIT SOUTHEAST, LLC | ILLINOVA CORPORATION | ||||
AMBIT SOUTHWEST, LLC | IPH, LLC | ||||
AMBIT TEXAS, LLC | KINCAID GENERATION, L.L.C. | ||||
ANP BELLINGHAM ENERGY COMPANY, LLC | LA FRONTERA HOLDINGS, LLC | ||||
ANP BLACKSTONE ENERGY COMPANY, LLC | LAKE ROAD GENERATING COMPANY, LLC | ||||
BIG BROWN POWER COMPANY LLC | LIBERTY ELECTRIC POWER, LLC | ||||
BIG SKY GAS, LLC | LONE STAR ENERGY COMPANY, INC. | ||||
BIG SKY GAS HOLDINGS, LLC | LONE STAR PIPELINE COMPANY, INC. | ||||
BLUENET HOLDINGS, LLC | LUMINANT ENERGY COMPANY LLC | ||||
BRIGHTSIDE SOLAR, LLC | LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ||||
CALUMET ENERGY TEAM, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
CASCO BAY ENERGY COMPANY, LLC | LUMINANT GENERATION COMPANY LLC | ||||
CINCINNATI BELL ENERGY, LLC | LUMINANT MINING COMPANY LLC | ||||
COFFEEN AND WESTERN RAILROAD COMPANY | MASSPOWER, LLC | ||||
COLETO CREEK POWER, LLC | MIDLOTHIAN ENERGY, LLC | ||||
COMANCHE PEAK POWER COMPANY LLC | MILFORD POWER COMPANY, LLC | ||||
CORE SOLAR SPV I, LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
CRIUS ENERGY, LLC | NCA RESOURCES DEVELOPMENT COMPANY LLC | ||||
CRIUS ENERGY CORPORATION | NEPCO SERVICES COMPANY | ||||
CRIUS ENERGY MANAGEMENT, LLC | NORTHEASTERN POWER COMPANY | ||||
CRIUS ENERGY MANAGEMENT 2, LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
CRIUS SOLAR FULFILLMENT, LLC | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
CRIUS SOLAR HOLDINGS, LLC | PLEASANTS ENERGY, LLC | ||||
CRIUS SOLAR, LLC | PEOPLE’S CHOICE ENERGY, LLC | ||||
DALLAS POWER & LIGHT COMPANY, INC. | PUBLIC POWER & UTILITY OF MARYLAND, LLC | ||||
DYNEGY ADMINISTRATIVE SERVICES COMPANY | PUBLIC POWER & UTILITY OF NY, INC. | ||||
DYNEGY ASSOCIATES NORTHEAST LP, INC. |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
DYNEGY COAL GENERATION, LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
DYNEGY COAL HOLDCO, LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
DYNEGY COAL TRADING & TRANSPORTATION, L.L.C. | RICHLAND-STRYKER GENERATION LLC |
DYNEGY COMMERCIAL ASSET MANAGEMENT, LLC | SANDOW POWER COMPANY LLC | ||||
DYNEGY CONESVILLE, LLC | SITHE ENERGIES, INC. | ||||
DYNEGY DICKS CREEK, LLC | SITHE/INDEPENDENCE LLC | ||||
DYNEGY ENERGY SERVICES (EAST), LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY ENERGY SERVICES, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY FAYETTE II, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
DYNEGY GAS IMPORTS, LLC | TEXAS POWER & LIGHT COMPANY, INC. | ||||
DYNEGY HANGING ROCK II, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
DYNEGY KENDALL ENERGY, LLC | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
DYNEGY KILLEN, LLC | TRIEAGLE 1, LLC | ||||
DYNEGY MARKETING AND TRADE, LLC | TRIEAGLE 2, LLC | ||||
DYNEGY MIAMI FORT, LLC | TRIEAGLE ENERGY LP | ||||
DYNEGY MIDWEST GENERATION, LLC | TXU ELECTRIC COMPANY, INC. | ||||
DYNEGY MORRO BAY, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
DYNEGY MOSS LANDING, LLC | TXU RETAIL SERVICES COMPANY | ||||
DYNEGY NORTHEAST GENERATION GP, INC. | UPTON COUNTY SOLAR 2, LLC | ||||
DYNEGY OAKLAND, LLC | VALUE BASED BRANDS LLC | ||||
DYNEGY OPERATING COMPANY | VIRIDIAN ENERGY, LLC | ||||
DYNEGY POWER GENERATION INC. | VIRIDIAN ENERGY PA LLC | ||||
DYNEGY POWER MARKETING, LLC | VIRIDIAN ENERGY NY, LLC | ||||
DYNEGY POWER, LLC | VIRIDIAN NETWORK, LLC | ||||
DYNEGY RESOURCE II, LLC | VISTRA ASSET COMPANY LLC | ||||
DYNEGY RESOURCES GENERATING HOLDCO, LLC | VISTRA CORPORATE SERVICES COMPANY | ||||
DYNEGY SOUTH BAY, LLC | VISTRA EP PROPERTIES COMPANY | ||||
DYNEGY STUART, LLC | VISTRA FINANCE CORP. | ||||
DYNEGY WASHINGTON II, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
DYNEGY ZIMMER, LLC | VISTRA PREFERRED INC. | ||||
EMERALD GROVE SOLAR, LLC | VOLT ASSET COMPANY, INC. | ||||
ENERGY REWARDS, LLC | WHARTON COUNTY GENERATION, LLC | ||||
ENERGY SOLUTIONS GROUP, LLC | WISE COUNTY POWER COMPANY, LLC | ||||
ENNIS POWER COMPANY, LLC |
WISE-FUELS PIPELINE, INC.,
|
||||
EQUIPOWER RESOURCES CORP. |
Name | Jurisdiction | ||||
Moss Landing Energy Storage 2, LLC | Delaware | ||||
North Jersey Energy Holdings, LLC | Delaware | ||||
North Jersey Energy Associates, A Limited Partnership | New Jersey |
COLETO CREEK ENERGY STORAGE LLC | ||
FOREST GROVE SOLAR LLC | ||
MORRO BAY ENERGY STORAGE 1, LLC | ||
MORRO BAY ENERGY STORAGE 2, LLC | ||
MOSS LANDING ENERGY STORAGE 3, LLC | ||
MOSS LANDING ENERGY STORAGE 4, LLC | ||
OAK HILL SOLAR LLC | ||
OAKLAND ENERGY STORAGE 1, LLC | ||
OAKLAND ENERGY STORAGE 2, LLC | ||
OAKLAND ENERGY STORAGE 3, LLC | ||
RENEWABLE ENERGY VENTURES, LLC
TRINIDAD POWER STORAGE LLC,
|
||
TRINIDAD POWER STORAGE LLC
TRINIDAD POWER STORAGE LLC
,
|
||
as the Guaranteeing Subsidiaries |
AMBIT CALIFORNIA, LLC | KINCAID GENERATION, L.L.C. | ||||
AMBIT ENERGY HOLDINGS, LLC | LA FRONTERA HOLDINGS, LLC | ||||
AMBIT HOLDINGS, LLC | LAKE ROAD GENERATING COMPANY, LLC | ||||
AMBIT ILLINOIS, LLC | LIBERTY ELECTRIC POWER, LLC | ||||
AMBIT MARKETING, LLC | LONE STAR ENERGY COMPANY, INC. | ||||
AMBIT MIDWEST, LLC | LONE STAR PIPELINE COMPANY, INC. | ||||
AMBIT NEW YORK, LLC | LUMINANT ENERGY COMPANY LLC | ||||
AMBIT NORTHEAST, LLC | LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ||||
AMBIT TEXAS, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
ANP BELLINGHAM ENERGY COMPANY, LLC | LUMINANT GENERATION COMPANY LLC | ||||
ANP BLACKSTONE ENERGY COMPANY, LLC | LUMINANT MINING COMPANY LLC | ||||
BIG BROWN POWER COMPANY LLC | LUMINANT POWER GENERATION INC. | ||||
BIG SKY GAS, LLC | LUMINANT POWER LLC | ||||
BIG SKY GAS HOLDINGS, LLC | MASSPOWER, LLC | ||||
BLUENET HOLDINGS, LLC | MIDLOTHIAN ENERGY, LLC | ||||
BRIGHTSIDE SOLAR, LLC | MILFORD POWER COMPANY, LLC | ||||
CALUMET ENERGY TEAM, LLC | MORRO BAY POWER COMPANY LLC | ||||
CASCO BAY ENERGY COMPANY, LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
CINCINNATI BELL ENERGY LLC | MOSS LANDING ENERGY STORAGE 2, LLC | ||||
COFFEEN AND WESTERN RAILROAD COMPANY | MOSS LANDING POWER COMPANY LLC | ||||
COLETO CREEK POWER, LLC | NCA RESOURCES DEVELOPMENT COMPANY LLC | ||||
COMANCHE PEAK POWER COMPANY LLC | NEPCO SERVICES COMPANY | ||||
CORE SOLAR SPV I, LLC | NORTHEASTERN POWER COMPANY | ||||
CRIUS ENERGY, LLC | NORTH JERSEY ENERGY HOLDINGS, LLC | ||||
CRIUS ENERGY CORPORATION | NORTH JERSEY ENERGY ASSOCIATES, A LIMITED PARTNERSHIP | ||||
CRIUS SOLAR FULFILLMENT, LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
DALLAS POWER & LIGHT COMPANY, INC. | OAKLAND POWER COMPANY LLC | ||||
DYNEGY ADMINISTRATIVE SERVICES COMPANY | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
DYNEGY COAL GENERATION, LLC | PLEASANTS ENERGY, LLC | ||||
DYNEGY COAL HOLDCO, LLC | PUBLIC POWER & UTILITY OF MARYLAND, LLC | ||||
DYNEGY COAL TRADING & TRANSPORTATION, L.L.C. | PUBLIC POWER & UTILITY OF NY, INC. | ||||
DYNEGY COMMERCIAL ASSET MANAGEMENT, LLC |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
DYNEGY CONESVILLE, LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
DYNEGY DICKS CREEK, LLC | RENEWABLE ENERGY VENTURES, LLC | ||||
DYNEGY ENERGY SERVICES (EAST), LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
DYNEGY ENERGY SERVICES, LLC | RICHLAND-STRYKER GENERATION LLC | ||||
DYNEGY FAYETTE II, LLC | SANDOW POWER COMPANY LLC | ||||
DYNEGY GAS IMPORTS, LLC | SITHE ENERGIES, INC. | ||||
DYNEGY HANGING ROCK II, LLC | SITHE/INDEPENDENCE LLC | ||||
DYNEGY KENDALL ENERGY, LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. |
DYNEGY KILLEN, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
DYNEGY MARKETING AND TRADE, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
DYNEGY MIAMI FORT, LLC | TEXAS POWER & LIGHT COMPANY, INC. | ||||
DYNEGY MIDWEST GENERATION, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
DYNEGY NORTHEAST GENERATION GP, INC. | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
DYNEGY OPERATING COMPANY | TRIEAGLE 1, LLC | ||||
DYNEGY POWER MARKETING, LLC | TRIEAGLE 2, LLC | ||||
DYNEGY RESOURCES GENERATING HOLDCO, LLC | TRIEAGLE ENERGY LP | ||||
DYNEGY SOUTH BAY, LLC | TXU ELECTRIC COMPANY, INC. | ||||
DYNEGY STUART, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
DYNEGY WASHINGTON II, LLC | TXU RETAIL SERVICES COMPANY | ||||
DYNEGY ZIMMER, LLC | UPTON COUNTY SOLAR 2, LLC | ||||
EMERALD GROVE SOLAR, LLC | VALUE BASED BRANDS LLC | ||||
ENERGY REWARDS, LLC | VIRIDIAN ENERGY, LLC | ||||
ENNIS POWER COMPANY, LLC | VIRIDIAN ENERGY PA LLC | ||||
EQUIPOWER RESOURCES CORP. | VIRIDIAN ENERGY NY, LLC | ||||
EVERYDAY ENERGY NJ, LLC | VIRIDIAN NETWORK, LLC | ||||
EVERYDAY ENERGY, LLC | VISTRA ASSET COMPANY LLC | ||||
GENERATION SVC COMPANY | VISTRA CORPORATE SERVICES COMPANY | ||||
HALLMARK SOLAR, LLC | VISTRA EP PROPERTIES COMPANY | ||||
HAYS ENERGY, LLC | VISTRA FINANCE CORP. | ||||
HOPEWELL POWER GENERATION, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
ILLINOIS POWER GENERATING COMPANY | VISTRA PREFERRED INC. | ||||
ILLINOIS POWER MARKETING COMPANY | VOLT ASSET COMPANY, INC. | ||||
ILLINOIS POWER RESOURCES GENERATING, LLC | WHARTON COUNTY GENERATION, LLC | ||||
ILLINOIS POWER RESOURCES, LLC | WISE COUNTY POWER COMPANY, LLC | ||||
ILLINOVA CORPORATION |
WISE-FUELS PIPELINE, INC.,
|
||||
IPH, LLC | |||||
Name | Jurisdiction | ||||
Coleto Creek Energy Storage LLC | Delaware | ||||
Forest Grove Solar LLC | Delaware | ||||
Morro Bay Energy Storage 1, LLC | Delaware | ||||
Morro Bay Energy Storage 2, LLC | Delaware | ||||
Moss Landing Energy Storage 3, LLC | Delaware | ||||
Moss Landing Energy Storage 4, LLC | Delaware | ||||
Oak Hill Solar LLC | Delaware | ||||
Oakland Energy Storage 1, LLC | Delaware | ||||
Oakland Energy Storage 2, LLC | Delaware | ||||
Oakland Energy Storage 3, LLC | Delaware | ||||
Renewable Energy Ventures, LLC | Delaware | ||||
Trinidad Power Storage LLC | Delaware |
Party | Capacity |
Period 1 Commitment
|
||||||
Credit Agricole Corporate and
Investment Bank
|
Committed Purchaser
|
$250,000,000 |
Party | Capacity |
Period 2 Commitment
|
||||||
Credit Agricole Corporate and
Investment Bank
|
Committed Purchaser
|
$325,000,000 |
Party | Capacity |
Period 3 Commitment
|
||||||
Credit Agricole Corporate and
Investment Bank
|
Committed Purchaser
|
$275,000,0000 |
Party | Capacity |
Period 4 Commitment
|
||||||
Credit Agricole Corporate and
Investment Bank
|
Committed Purchaser
|
$220,000,000 |
Party | Capacity |
Period 5 Commitment
|
||||||
Credit Agricole Corporate and
Investment Bank
|
Committed Purchaser
|
$262,167,392.98 |
Party | Capacity |
Period 1 Commitment
|
||||||
Royal Bank of Canada
|
Committed Purchaser
|
$250,000,000 |
Party | Capacity |
Period 2 Commitment
|
||||||
Royal Bank of Canada
|
Committed Purchaser
|
$250,000,000 |
Party | Capacity |
Period 3 Commitment
|
||||||
Royal Bank of Canada
|
Committed Purchaser
|
$225,000,000 |
Party | Capacity |
Period 4 Commitment
|
||||||
Royal Bank of Canada
|
Committed Purchaser
|
$210,000,000 |
Party | Capacity |
Period 5 Commitment
|
||||||
Royal Bank of Canada
|
Committed Purchaser
|
$250,250,693.30 |
Party | Capacity |
Period 1 Commitment
|
||||||
MUFG Bank, Ltd. |
Committed Purchaser
|
$50,000,000 |
Party | Capacity |
Period 2 Commitment
|
||||||
MUFG Bank, Ltd. |
Committed Purchaser
|
$50,000,000 |
Party | Capacity |
Period 3 Commitment
|
||||||
MUFG Bank, Ltd. |
Committed Purchaser
|
$50,000,0000 |
Party | Capacity |
Period 4 Commitment
|
||||||
MUFG Bank, Ltd. |
Committed Purchaser
|
$70,000,000 |
Party | Capacity |
Period 5 Commitment
|
||||||
MUFG Bank, Ltd. |
Committed Purchaser
|
$83,416,897.77 |
Vesting Date | Percentage of Option Shares | ||||
First Anniversary of Grant Date
Second Anniversary of Grant Date
Third Anniversary of Grant Date
|
33.33%
33.33%
33.34%
|
2
|
3
|
4
|
5
|
6
|
7
|
Vesting Date | Percentage of RSUs | ||||
First Anniversary of Grant Date
Second Anniversary of Grant Date
Third Anniversary of Grant Date
|
33.33%
33.33%
33.34%
|
2
|
3
|
4
|
5
|
6
|
7
|
2
|
3
|
4
|
5
|
6
|
7
|
Date of Termination | Percentage | ||||
Between Grant Date and First Anniversary of Grant Date | 33.33% | ||||
Between First and Second Anniversaries of Grant Date | 66.66% | ||||
On or after Second Anniversary of Grant Date | 100.00% |
SUBSIDIARY | STATE OR COUNTRY OF INCORPORATION OR ORGANIZATION | ||||||||||
1 | Ambit Energy Holdings, LLC | Texas | |||||||||
2 | Ambit Holdings, LLC | Texas | |||||||||
3 | Ambit Northeast, LLC | Delaware | |||||||||
4 | Ambit Texas, LLC | Texas | |||||||||
5 | Coleto Creek Power, LLC | Delaware | |||||||||
6 | Comanche Peak Power Company LLC | Delaware | |||||||||
7 | Crius Energy, LLC | Delaware | |||||||||
8 | Crius Energy Corporation | Delaware | |||||||||
9 | Dynegy Coal Generation, LLC | Delaware | |||||||||
10 | Dynegy Coal Holdco, LLC | Delaware | |||||||||
11 | Dynegy Commercial Asset Management, LLC | Delaware | |||||||||
12 | Dynegy Energy Services (East), LLC | Delaware | |||||||||
13 | Dynegy Energy Services, LLC | Delaware | |||||||||
14 | Dynegy Fayette II, LLC | Delaware | |||||||||
15 | Dynegy Hanging Rock II, LLC | Delaware | |||||||||
16 | Dynegy Kendall Energy, LLC | Delaware | |||||||||
17 | Dynegy Marketing and Trade, LLC | Delaware | |||||||||
18 | Dynegy Miami Fort, LLC | Delaware | |||||||||
19 | Dynegy Midwest Generation, LLC | Delaware | |||||||||
20 | Dynegy Resources Generating Holdco, LLC | Delaware | |||||||||
21 | Dynegy Washington II, LLC | Delaware | |||||||||
22 | Dynegy Zimmer, LLC | Delaware | |||||||||
23 | EquiPower Resources Corp. | Delaware | |||||||||
24 | Illinois Power Marketing Company | Illinois | |||||||||
25 | Illinois Power Resources, LLC | Delaware | |||||||||
26 | IPH, LLC | Delaware | |||||||||
27 | Kincaid Generation, L.L.C. | Virginia | |||||||||
28 | La Frontera Holdings, LLC | Delaware | |||||||||
29 | Luminant Energy Company LLC | Texas | |||||||||
30 | Luminant Generation Company LLC | Texas | |||||||||
31 | Luminant Mining Company LLC | Texas | |||||||||
32 | Luminant Power LLC | Delaware | |||||||||
33 | Midlothian Energy, LLC | Delaware | |||||||||
34 | Oak Grove Management Company LLC | Delaware | |||||||||
35 | Ontelaunee Power Poperating Company, LLC | Delaware | |||||||||
36 | Public Power, LLC | Connecticut | |||||||||
37 | Regional Energy Holdings, Inc. | Nevada | |||||||||
38 | Sithe Energies, Inc. | Delaware | |||||||||
39 | Sithe Independence Power Partners, L.P. | Delaware | |||||||||
40 | TriEagle 2, LLC | Nevada | |||||||||
41 | TriEagle Energy LP | Texas | |||||||||
42 | TXU Energy Retail Company LLC | Texas | |||||||||
43 | Viridian Energy, LLC | Nevada | |||||||||
44 | Vistra Asset Company LLC | Delaware | |||||||||
45 | Vistra Intermediate Company LLC | Delaware | |||||||||
46 | Vistra Operations Company LLC | Delaware | |||||||||
47 | Vistra Preferred Inc. | Delaware | |||||||||
48 | Volt Asset Company, Inc. | Delaware |
Date: February 26, 2021 | /s/ Curtis A. Morgan | ||||
Curtis A. Morgan | |||||
Chief Executive Officer | |||||
(Principal Executive Officer) |
Date: February 26, 2021 | /s/ James A. Burke | ||||
James A. Burke | |||||
President and Chief Financial Officer | |||||
(Principal Financial Officer) |
Date: February 26, 2021 | /s/ Curtis A. Morgan | ||||
Curtis A. Morgan | |||||
Chief Executive Officer | |||||
(Principal Executive Officer) |
Date: February 26, 2021 | /s/ James A. Burke | ||||
James A. Burke | |||||
President and Chief Financial Officer | |||||
(Principal Financial Officer) |
Mine (a) |
Section 104
S and S Citations (b) |
Section 104(b)
Orders |
Section 104(d)
Citations and Orders |
Section 110(b)(2)
Violations |
Section 107(a)
Orders |
Total Dollar Value of MSHA Assessments Proposed (c) | Total Number of Mining Related Fatalities | Received Notice of Pattern of Violations Under Section 104(e) | Received Notice of Potential to Have Pattern Under Section 104(e) | Legal Actions Pending at Last Day of Period (d) | Legal Actions Initiated During Period | Legal Actions Resolved During Period | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beckville | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Big Brown | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bremond | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Honeybrook Refuse Operation | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kosse | 6 | — | — | — | — | 3 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leesburg | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liberty | 1 | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northeastern Power Cogeneration Facility | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Oak Hill | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sulphur Springs | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tatum | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Oaks | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Winfield North | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Winfield South | — | — | — | — | — | — | — | — | — | — | — | — |