| ☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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| ☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Delaware
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36-4833255 | |||||||||||||||||||
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(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification No.)
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6555 Sierra Drive,
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Irving,
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Texas
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75039 | (214) | 812-4600 | |||||||||||||||
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(Address of principal executive offices) (Zip Code)
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(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 | ||||||||||||
| PAGE | ||||||||
| PART I. | ||||||||
| Item 1. | ||||||||
| Item 2. | ||||||||
| Item 3. | ||||||||
| Item 4. | ||||||||
| PART II. | ||||||||
| Item 1. | ||||||||
| Item 1A. | ||||||||
| Item 2. | ||||||||
| Item 3. | ||||||||
| Item 4. | ||||||||
| Item 5. | ||||||||
| Item 6. | ||||||||
| 2020 Form 10-K | Vistra's annual report on Form 10-K for the year ended December 31, 2020, filed with the SEC on February 26, 2021 | |||||||
| 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 | |||||||
| CAISO | The California Independent System Operator | |||||||
| CARES Act | Coronavirus Aid, Relief, and Economic Security Act | |||||||
| CCGT | combined cycle gas turbine | |||||||
| CCR | coal combustion residuals | |||||||
| CFTC | U.S. Commodity Futures Trading Commission | |||||||
| CME | Chicago Mercantile Exchange | |||||||
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CO2
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carbon dioxide | |||||||
| CPUC | California Public Utilities Commission | |||||||
| Crius | Crius Energy Trust and/or its subsidiaries, depending on context | |||||||
| 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 our predecessor completed its reorganization under Chapter 11 of the U.S. Bankruptcy Code | |||||||
| Emergence | emergence of our predecessor from reorganization under Chapter 11 of the U.S. Bankruptcy Code 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 | |||||||
| 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 | |||||||
| IEPA | Illinois Environmental Protection Agency | |||||||
| IPCB | Illinois Pollution Control Board | |||||||
| IRC | Internal Revenue Code of 1986, as amended | |||||||
| IRS | U.S. Internal Revenue Service | |||||||
| ISO | independent system operator | |||||||
| ISO-NE | ISO New England Inc. | |||||||
| 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 Date | April 9, 2018, the date Vistra and Dynegy completed the transactions contemplated by the Agreement and Plan of Merger, dated as of October 29, 2017, by and between Vistra and Dynegy | |||||||
| 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 | |||||||
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NOX
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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 | |||||||
| 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 parent company of our predecessor in August 2016 and confirmed by the U.S. Bankruptcy Court for the District of Delaware in August 2016 solely with respect to our predecessor | |||||||
| PrefCo | Vistra Preferred Inc. | |||||||
| PrefCo Preferred Stock Sale | as part of the tax-free spin-off from Energy Future Holdings Corp., executed pursuant to the Plan of Reorganization on the Effective Date by our predecessor, the contribution of certain of the assets of our 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 | |||||||
| REP | retail electric provider | |||||||
| RCT | Railroad Commission of Texas, which among other things, has oversight of lignite mining activity in Texas, and has jurisdiction over oil and natural gas exploration and production, permitting and inspecting intrastate pipelines, and overseeing natural gas utility rates and compliance | |||||||
| RTO | regional transmission organization | |||||||
| S&P | Standard & Poor's Ratings (a credit rating agency) | |||||||
| Series A Preferred Stock | Vistra's 8.0% Series A Fixed Rate Reset Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value, with a liquidation preference of $1,000 per share | |||||||
| SEC | U.S. Securities and Exchange Commission | |||||||
| Securities Act | Securities Act of 1933, as amended | |||||||
| SG&A | selling, general and administrative | |||||||
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SO2
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sulfur dioxide | |||||||
| Tax Matters Agreement | Tax Matters Agreement, dated as of the Effective Date, by and among Energy Future Holdings Corp. (EFH Corp.), Energy Future Intermediate Holding Company LLC, EFIH Finance Inc. and EFH Merger Co. LLC | |||||||
| TCEH | 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 our predecessor, depending on context, that were engaged in electricity generation and wholesale and retail energy market activities, and whose major subsidiaries included Luminant and TXU Energy | |||||||
| 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 7 to the Financial Statements)
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| 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. and/or its subsidiaries, depending on context. 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 10 to the Financial Statements) and borrower under the Vistra Operations Credit Facilities
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| Vistra Operations Credit Facilities |
Vistra Operations senior secured financing facilities (see Note 10 to the Financial Statements)
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| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| Operating revenues (Note 4) | $ | 2,991 | $ | 3,552 | $ | 8,763 | $ | 8,919 | |||||||||||||||
| Fuel, purchased power costs and delivery fees | (1,763) | (1,469) | (7,827) | (3,832) | |||||||||||||||||||
| Operating costs | (372) | (457) | (1,173) | (1,249) | |||||||||||||||||||
| Depreciation and amortization | (468) | (410) | (1,355) | (1,284) | |||||||||||||||||||
| Selling, general and administrative expenses | (269) | (268) | (771) | (755) | |||||||||||||||||||
| Impairment of long-lived assets (Note 17) | — | (272) | (38) | (356) | |||||||||||||||||||
| Operating income (loss) | 119 | 676 | (2,401) | 1,443 | |||||||||||||||||||
| Other income (Note 17) | 16 | 8 | 108 | 19 | |||||||||||||||||||
| Other deductions (Note 17) | (5) | — | (13) | (35) | |||||||||||||||||||
| Interest expense and related charges (Note 17) | (124) | (101) | (288) | (541) | |||||||||||||||||||
| Impacts of Tax Receivable Agreement (Note 7) | 35 | 58 | 31 | 44 | |||||||||||||||||||
| Equity in earnings of unconsolidated investment | — | — | — | 4 | |||||||||||||||||||
| Income (loss) before income taxes | 41 | 641 | (2,563) | 934 | |||||||||||||||||||
| Income tax (expense) benefit (Note 6) | (31) | (199) | 569 | (283) | |||||||||||||||||||
| Net income (loss) | $ | 10 | $ | 442 | $ | (1,994) | $ | 651 | |||||||||||||||
| Net (income) loss attributable to noncontrolling interest | (3) | 1 | (6) | 14 | |||||||||||||||||||
| Net income (loss) attributable to Vistra | $ | 7 | $ | 443 | $ | (2,000) | $ | 665 | |||||||||||||||
| Weighted average shares of common stock outstanding: | |||||||||||||||||||||||
| Basic | 482,516,965 | 488,824,580 | 483,150,213 | 488,484,441 | |||||||||||||||||||
| Diluted | 484,494,546 | 491,025,940 | 483,150,213 | 490,914,478 | |||||||||||||||||||
| Net income (loss) per weighted average share of common stock outstanding: | |||||||||||||||||||||||
| Basic | $ | 0.01 | $ | 0.91 | $ | (4.14) | $ | 1.36 | |||||||||||||||
| Diluted | $ | 0.01 | $ | 0.90 | $ | (4.14) | $ | 1.35 | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| Net income (loss) | $ | 10 | $ | 442 | $ | (1,994) | $ | 651 | |||||||||||||||
| Other comprehensive income (loss), net of tax effects: | |||||||||||||||||||||||
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Effects related to pension and other retirement benefit obligations (net of tax (expense) benefit of $(4), $1, $(5) and $8)
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14 | (4) | 17 | (26) | |||||||||||||||||||
| Total other comprehensive income (loss) | 14 | (4) | 17 | (26) | |||||||||||||||||||
| Comprehensive income (loss) | $ | 24 | $ | 438 | $ | (1,977) | $ | 625 | |||||||||||||||
| Comprehensive (income) loss attributable to noncontrolling interest | (3) | 1 | (6) | 14 | |||||||||||||||||||
| Comprehensive income (loss) attributable to Vistra | $ | 21 | $ | 439 | $ | (1,983) | $ | 639 | |||||||||||||||
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VISTRA CORP.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Millions of Dollars) |
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| Nine Months Ended September 30, | |||||||||||
| 2021 | 2020 | ||||||||||
| Cash flows — operating activities: | |||||||||||
| Net income (loss) | $ | (1,994) | $ | 651 | |||||||
| Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | |||||||||||
| Depreciation and amortization | 1,551 | 1,512 | |||||||||
| Deferred income tax expense (benefit), net | (587) | 264 | |||||||||
| Impairment of long-lived assets (Note 17) | 38 | 356 | |||||||||
| Loss on disposal of investment in NELP (Note 17) | — | 29 | |||||||||
| Unrealized net (gain) loss from mark-to-market valuations of commodities | 771 | (444) | |||||||||
| Unrealized net (gain) loss from mark-to-market valuations of interest rate swaps | (92) | 181 | |||||||||
| Asset retirement obligation accretion expense | 27 | 33 | |||||||||
| Impacts of Tax Receivable Agreement (Note 7) | (31) | (44) | |||||||||
| Stock-based compensation | 36 | 46 | |||||||||
| Other, net | 79 | 115 | |||||||||
| Changes in operating assets and liabilities: | |||||||||||
| Margin deposits, net | (767) | 60 | |||||||||
| Accrued interest | (55) | (97) | |||||||||
| Accrued taxes | (63) | (35) | |||||||||
| Accrued employee incentive | (86) | (20) | |||||||||
| Other operating assets and liabilities | 680 | (257) | |||||||||
| Cash provided by (used in) operating activities | (493) | 2,350 | |||||||||
| Cash flows — investing activities: | |||||||||||
| Capital expenditures, including nuclear fuel purchases and LTSA prepayments | (790) | (838) | |||||||||
| Proceeds from sales of nuclear decommissioning trust fund securities (Note 17) | 366 | 291 | |||||||||
| Investments in nuclear decommissioning trust fund securities (Note 17) | (382) | (307) | |||||||||
| Proceeds from sales of environmental allowances | 102 | 91 | |||||||||
| Purchases of environmental allowances | (247) | (210) | |||||||||
| Insurance proceeds | 74 | 15 | |||||||||
| Proceeds from sale of assets | 7 | 23 | |||||||||
| Other, net | 27 | 8 | |||||||||
| Cash used in investing activities | (843) | (927) | |||||||||
| Cash flows — financing activities: | |||||||||||
| Issuances of long-term debt (Note 10) | 1,250 | — | |||||||||
| Borrowings under Term Loan A (Note 10) | 1,250 | — | |||||||||
| Repayment under Term Loan A (Note 10) | (1,250) | — | |||||||||
| Proceeds from forward capacity agreement (Note 10) | 500 | — | |||||||||
| Repayments/repurchases of debt (Note 10) | (234) | (955) | |||||||||
| Net borrowings under accounts receivable financing (Note 9) | 175 | 175 | |||||||||
| Borrowings under Revolving Credit Facility (Note 10) | 1,300 | 1,075 | |||||||||
| Repayments under Revolving Credit Facility (Note 10) | (1,300) | (1,425) | |||||||||
| Share repurchases (Note 12) | (175) | — | |||||||||
| Dividends paid to stockholders (Note 12) | (219) | (198) | |||||||||
| Debt tender offer and other financing fees (Note 10) | (13) | (17) | |||||||||
| Other, net | (5) | (3) | |||||||||
| Cash provided by (used in) financing activities | 1,279 | (1,348) | |||||||||
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VISTRA CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Millions of Dollars) |
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September 30,
2021 |
December 31,
2020 |
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| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 351 | $ | 406 | |||||||
| Restricted cash (Note 17) | 22 | 19 | |||||||||
| Trade accounts receivable — net (Note 17) | 1,529 | 1,279 | |||||||||
| Income taxes receivable | 7 | — | |||||||||
| Inventories (Note 17) | 471 | 515 | |||||||||
| Commodity and other derivative contractual assets (Note 14) | 4,187 | 748 | |||||||||
| Margin deposits related to commodity contracts | 1,048 | 257 | |||||||||
| Prepaid expense and other current assets | 231 | 205 | |||||||||
| Total current assets | 7,846 | 3,429 | |||||||||
| Restricted cash (Note 17) | 14 | 19 | |||||||||
| Investments (Note 17) | 1,915 | 1,759 | |||||||||
| Property, plant and equipment — net (Note 17) | 13,100 | 13,499 | |||||||||
| Operating lease right-of-use assets | 35 | 45 | |||||||||
| Goodwill (Note 5) | 2,583 | 2,583 | |||||||||
| Identifiable intangible assets — net (Note 5) | 2,229 | 2,446 | |||||||||
| Commodity and other derivative contractual assets (Note 14) | 454 | 258 | |||||||||
| Accumulated deferred income taxes | 1,421 | 838 | |||||||||
| Other noncurrent assets | 335 | 332 | |||||||||
| Total assets | $ | 29,932 | $ | 25,208 | |||||||
| LIABILITIES AND EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts receivable financing (Note 9) | 475 | 300 | |||||||||
| Long-term debt due currently (Note 10) | 382 | 95 | |||||||||
| Trade accounts payable | 1,172 | 880 | |||||||||
| Commodity and other derivative contractual liabilities (Note 14) | 4,948 | 789 | |||||||||
| Margin deposits related to commodity contracts | 57 | 33 | |||||||||
| Accrued income taxes | — | 16 | |||||||||
| Accrued taxes other than income | 163 | 210 | |||||||||
| Accrued interest | 76 | 131 | |||||||||
| Asset retirement obligations (Note 17) | 110 | 103 | |||||||||
| Operating lease liabilities | 5 | 8 | |||||||||
| Other current liabilities | 534 | 471 | |||||||||
| Total current liabilities | 7,922 | 3,036 | |||||||||
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VISTRA CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Millions of Dollars) |
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|
September 30,
2021 |
December 31,
2020 |
||||||||||
| Long-term debt, less amounts due currently (Note 10) | 10,493 | 9,235 | |||||||||
| Operating lease liabilities | 33 | 40 | |||||||||
| Commodity and other derivative contractual liabilities (Note 14) | 896 | 624 | |||||||||
| Accumulated deferred income taxes | 1 | 1 | |||||||||
| Tax Receivable Agreement obligation (Note 7) | 416 | 447 | |||||||||
| Asset retirement obligations (Note 17) | 2,326 | 2,333 | |||||||||
| Other noncurrent liabilities and deferred credits (Note 17) | 1,814 | 1,131 | |||||||||
| Total liabilities | 23,901 | 16,847 | |||||||||
| Commitments and Contingencies (Note 11) | |||||||||||
| Total equity (Note 12): | |||||||||||
|
Common stock (par value — $0.01; number of shares authorized — 1,800,000,000)
(shares outstanding: September 30, 2021 — 482,551,344; December 31, 2020 — 489,305,888)
|
5 | 5 | |||||||||
|
Treasury stock, at cost (shares: September 30, 2021 — 49,701,377; December 31, 2020 — 41,043,224)
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(1,148) | (973) | |||||||||
| Additional paid-in-capital | 9,829 | 9,786 | |||||||||
| Retained deficit | (2,619) | (399) | |||||||||
| Accumulated other comprehensive loss | (31) | (48) | |||||||||
| Stockholders' equity | 6,036 | 8,371 | |||||||||
| Noncontrolling interest in subsidiary | (5) | (10) | |||||||||
| Total equity | 6,031 | 8,361 | |||||||||
| Total liabilities and equity | $ | 29,932 | $ | 25,208 | |||||||
| 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 | |||||||||||||||||||||||||||
| Edwards | Bartonville, IL | MISO | Coal | 585 | By the end of 2022 | |||||||||||||||||||||||||||
| Joppa | Joppa, IL | MISO | Coal | 802 | By September 1, 2022 | |||||||||||||||||||||||||||
| Joppa | Joppa, IL | MISO | Natural Gas | 221 | By September 1, 2022 | |||||||||||||||||||||||||||
| 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 May 31, 2022 | |||||||||||||||||||||||||||
| Total | 7,486 | |||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||
| Revenue from contracts with customers: | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail energy charge in ERCOT | $ | 1,896 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,896 | |||||||||||||||||||||||||||||||
| Retail energy charge in Northeast/Midwest | 624 | — | — | — | — | — | — | 624 | |||||||||||||||||||||||||||||||||||||||
| Wholesale generation revenue from ISO/RTO | — | 211 | 191 | 89 | 322 | — | — | 813 | |||||||||||||||||||||||||||||||||||||||
| Capacity revenue from ISO/RTO (a) | — | — | (13) | 1 | 51 | — | — | 39 | |||||||||||||||||||||||||||||||||||||||
| Revenue from other wholesale contracts | — | 88 | 167 | 29 | 46 | — | — | 330 | |||||||||||||||||||||||||||||||||||||||
| Total revenue from contracts with customers | 2,520 | 299 | 345 | 119 | 419 | — | — | 3,702 | |||||||||||||||||||||||||||||||||||||||
| Other revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
| Intangible amortization | 2 | — | — | — | (2) | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Hedging and other revenues (b) | (362) | (7) | 222 | (30) | (534) | — | — | (711) | |||||||||||||||||||||||||||||||||||||||
| Affiliate sales (c) | — | 551 | (59) | 1 | (5) | — | (488) | — | |||||||||||||||||||||||||||||||||||||||
| Total other revenues | (360) | 544 | 163 | (29) | (541) | — | (488) | (711) | |||||||||||||||||||||||||||||||||||||||
| Total revenues | $ | 2,160 | $ | 843 | $ | 508 | $ | 90 | $ | (122) | $ | — | $ | (488) | $ | 2,991 | |||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||
| Revenue from contracts with customers: | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail energy charge in ERCOT | $ | 1,824 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,824 | |||||||||||||||||||||||||||||||
| Retail energy charge in Northeast/Midwest | 683 | — | — | — | — | — | — | 683 | |||||||||||||||||||||||||||||||||||||||
| Wholesale generation revenue from ISO/RTO | — | 125 | 78 | 37 | 165 | 1 | — | 406 | |||||||||||||||||||||||||||||||||||||||
| Capacity revenue from ISO/RTO (a) | — | — | (25) | — | 40 | — | — | 15 | |||||||||||||||||||||||||||||||||||||||
| Revenue from other wholesale contracts | — | 68 | 183 | 16 | 43 | — | — | 310 | |||||||||||||||||||||||||||||||||||||||
| Total revenue from contracts with customers | 2,507 | 193 | 236 | 53 | 248 | 1 | — | 3,238 | |||||||||||||||||||||||||||||||||||||||
| Other revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
| Intangible amortization | 7 | — | 1 | — | (4) | — | — | 4 | |||||||||||||||||||||||||||||||||||||||
| Hedging and other revenues (b) | 7 | 230 | 57 | 30 | (14) | — | — | 310 | |||||||||||||||||||||||||||||||||||||||
| Affiliate sales | — | 1,118 | 350 | 1 | 69 | — | (1,538) | — | |||||||||||||||||||||||||||||||||||||||
| Total other revenues | 14 | 1,348 | 408 | 31 | 51 | — | (1,538) | 314 | |||||||||||||||||||||||||||||||||||||||
| Total revenues | $ | 2,521 | $ | 1,541 | $ | 644 | $ | 84 | $ | 299 | $ | 1 | $ | (1,538) | $ | 3,552 | |||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||
| Revenue from contracts with customers: | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail energy charge in ERCOT | $ | 4,460 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,460 | |||||||||||||||||||||||||||||||
| Retail energy charge in Northeast/Midwest | 1,715 | — | — | — | — | — | — | 1,715 | |||||||||||||||||||||||||||||||||||||||
| Wholesale generation revenue from ISO/RTO | — | 3,585 | 442 | 158 | 1,230 | — | — | 5,415 | |||||||||||||||||||||||||||||||||||||||
| Capacity revenue from ISO/RTO (a) | — | — | (14) | 1 | 133 | — | — | 120 | |||||||||||||||||||||||||||||||||||||||
| Revenue from other wholesale contracts | — | 2,172 | 459 | 75 | 148 | — | — | 2,854 | |||||||||||||||||||||||||||||||||||||||
| Total revenue from contracts with customers | 6,175 | 5,757 | 887 | 234 | 1,511 | — | — | 14,564 | |||||||||||||||||||||||||||||||||||||||
| Other revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
| Intangible amortization | (1) | — | 74 | — | (10) | — | — | 63 | |||||||||||||||||||||||||||||||||||||||
| Hedging and other revenues (b) | (345) | (4,457) | 418 | (66) | (1,414) | — | — | (5,864) | |||||||||||||||||||||||||||||||||||||||
| Affiliate sales (c) | — | 158 | 359 | 3 | 22 | — | (542) | — | |||||||||||||||||||||||||||||||||||||||
| Total other revenues | (346) | (4,299) | 851 | (63) | (1,402) | — | (542) | (5,801) | |||||||||||||||||||||||||||||||||||||||
| Total revenues | $ | 5,829 | $ | 1,458 | $ | 1,738 | $ | 171 | $ | 109 | $ | — | $ | (542) | $ | 8,763 | |||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from contracts with customers: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retail energy charge in ERCOT | $ | 4,489 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,489 | |||||||||||||||||||||||||||||||||||||
| Retail energy charge in Northeast/Midwest | 1,862 | — | — | — | — | — | — | 1,862 | |||||||||||||||||||||||||||||||||||||||||||||
| Wholesale generation revenue from ISO/RTO | — | 283 | 177 | 83 | 305 | 1 | — | 849 | |||||||||||||||||||||||||||||||||||||||||||||
| Capacity revenue from ISO/RTO (a) | — | — | (34) | — | 124 | — | — | 90 | |||||||||||||||||||||||||||||||||||||||||||||
| Revenue from other wholesale contracts | — | 183 | 508 | 40 | 146 | — | — | 877 | |||||||||||||||||||||||||||||||||||||||||||||
| Total revenue from contracts with customers | 6,351 | 466 | 651 | 123 | 575 | 1 | — | 8,167 | |||||||||||||||||||||||||||||||||||||||||||||
| Other revenues: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible amortization | (1) | — | 1 | — | (16) | — | — | (16) | |||||||||||||||||||||||||||||||||||||||||||||
| Hedging and other revenues (b) | 35 | 529 | 25 | 85 | 92 | 2 | — | 768 | |||||||||||||||||||||||||||||||||||||||||||||
| Affiliate sales | — | 2,250 | 1,168 | 3 | 212 | — | (3,633) | — | |||||||||||||||||||||||||||||||||||||||||||||
| Total other revenues | 34 | 2,779 | 1,194 | 88 | 288 | 2 | (3,633) | 752 | |||||||||||||||||||||||||||||||||||||||||||||
| Total revenues | $ | 6,385 | $ | 3,245 | $ | 1,845 | $ | 211 | $ | 863 | $ | 3 | $ | (3,633) | $ | 8,919 | |||||||||||||||||||||||||||||||||||||
|
September 30,
2021 |
December 31, 2020 | ||||||||||
| Trade accounts receivable from contracts with customers — net | $ | 1,377 | $ | 1,169 | |||||||
| Other trade accounts receivable — net | 152 | 110 | |||||||||
| Total trade accounts receivable — net | $ | 1,529 | $ | 1,279 | |||||||
| September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||
| Identifiable Intangible Asset |
Gross
Carrying
Amount
|
Accumulated
Amortization |
Net |
Gross
Carrying
Amount
|
Accumulated
Amortization |
Net | ||||||||||||||||||||||||||||||||
| Retail customer relationship | $ | 2,082 | $ | 1,581 | $ | 501 | $ | 2,082 | $ | 1,434 | $ | 648 | ||||||||||||||||||||||||||
| Software and other technology-related assets | 410 | 197 | 213 | 414 | 186 | 228 | ||||||||||||||||||||||||||||||||
| Retail and wholesale contracts | 248 | 199 | 49 | 272 | 204 | 68 | ||||||||||||||||||||||||||||||||
| Contractual service agreements (a) | 31 | — | 31 | 51 | 1 | 50 | ||||||||||||||||||||||||||||||||
| Other identifiable intangible assets (b) | 80 | 20 | 60 | 96 | 19 | 77 | ||||||||||||||||||||||||||||||||
| Total identifiable intangible assets subject to amortization | $ | 2,851 | $ | 1,997 | 854 | $ | 2,915 | $ | 1,844 | 1,071 | ||||||||||||||||||||||||||||
| Retail trade names (not subject to amortization) | 1,374 | 1,374 | ||||||||||||||||||||||||||||||||||||
| Mineral interests (not currently subject to amortization) | 1 | 1 | ||||||||||||||||||||||||||||||||||||
| Total identifiable intangible assets | $ | 2,229 | $ | 2,446 | ||||||||||||||||||||||||||||||||||
| Identifiable Intangible Liability |
September 30,
2021 |
December 31, 2020 | ||||||||||||
| Contractual service agreements | $ | 125 | $ | 129 | ||||||||||
| Purchase and sale of power and capacity | 10 | 87 | ||||||||||||
| Fuel and transportation purchase contracts | 15 | 73 | ||||||||||||
| Total identifiable intangible liabilities | $ | 150 | $ | 289 | ||||||||||
| Identifiable Intangible Assets and Liabilities | Condensed Consolidated Statements of Operations | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||
| Retail customer relationship | Depreciation and amortization | $ | 49 | $ | 62 | $ | 147 | $ | 214 | ||||||||||||||||||||
| Software and other technology-related assets | Depreciation and amortization | 20 | 19 | 58 | 56 | ||||||||||||||||||||||||
| Retail and wholesale contracts/purchase and sale/fuel and transportation contracts | Operating revenues/fuel, purchased power costs and delivery fees | 1 | (4) | (60) | 11 | ||||||||||||||||||||||||
| Other identifiable intangible assets | Operating revenues/fuel, purchased power costs and delivery fees/depreciation and amortization | 91 | 66 | 196 | 162 | ||||||||||||||||||||||||
| Total intangible asset expense (a) | $ | 161 | $ | 143 | $ | 341 | $ | 443 | |||||||||||||||||||||
| Year | Estimated Amortization Expense | |||||||
| 2021 | $ | 212 | ||||||
| 2022 | $ | 192 | ||||||
| 2023 | $ | 137 | ||||||
| 2024 | $ | 88 | ||||||
| 2025 | $ | 63 | ||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| Income (loss) before income taxes | $ | 41 | $ | 641 | $ | (2,563) | $ | 934 | |||||||||||||||
| Income tax (expense) benefit | $ | (31) | $ | (199) | $ | 569 | $ | (283) | |||||||||||||||
| Effective tax rate | 75.6 | % | 31.0 | % | 22.2 | % | 30.3 | % | |||||||||||||||
| Nine Months Ended September 30, | |||||||||||
| 2021 | 2020 | ||||||||||
| TRA obligation at the beginning of the period | $ | 450 | $ | 455 | |||||||
| Accretion expense | 48 | 50 | |||||||||
| Changes in tax assumptions impacting timing of payments (a) | (79) | (94) | |||||||||
| Impacts of Tax Receivable Agreement | (31) | (44) | |||||||||
| TRA obligation at the end of the period | 419 | 411 | |||||||||
| Less amounts due currently | (3) | — | |||||||||
| Noncurrent TRA obligation at the end of the period | $ | 416 | $ | 411 | |||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| Net income (loss) attributable to common stock — basic | $ | 7 | $ | 443 | $ | (2,000) | $ | 665 | |||||||||||||||
| Weighted average shares of common stock outstanding — basic | 482,516,965 | 488,824,580 | 483,150,213 | 488,484,441 | |||||||||||||||||||
| Net income (loss) per weighted average share of common stock outstanding — basic | $ | 0.01 | $ | 0.91 | $ | (4.14) | $ | 1.36 | |||||||||||||||
| Dilutive securities: Stock-based incentive compensation plan | 1,977,581 | 2,201,360 | — | 2,430,037 | |||||||||||||||||||
| Weighted average shares of common stock outstanding — diluted | 484,494,546 | 491,025,940 | 483,150,213 | 490,914,478 | |||||||||||||||||||
| Net income (loss) per weighted average share of common stock outstanding — diluted | $ | 0.01 | $ | 0.90 | $ | (4.14) | $ | 1.35 | |||||||||||||||
|
September 30,
2021 |
December 31,
2020 |
||||||||||
| Vistra Operations Credit Facilities | $ | 2,550 | $ | 2,572 | |||||||
| 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 | |||||||||
|
4.375% Senior Secured Notes, due May 15, 2029
|
1,250 | — | |||||||||
| Total Vistra Operations Senior Unsecured Notes | 4,850 | 3,600 | |||||||||
| Other: | |||||||||||
| Forward Capacity Agreements | 343 | 45 | |||||||||
| Equipment Financing Agreements | 105 | 68 | |||||||||
|
8.82% Building Financing due semiannually through February 11, 2022 (a)
|
3 | 10 | |||||||||
| Other | 3 | 3 | |||||||||
| Total other long-term debt | 454 | 126 | |||||||||
| Unamortized debt premiums, discounts and issuance costs (b) | (79) | (68) | |||||||||
| Total long-term debt including amounts due currently | 10,875 | 9,330 | |||||||||
| Less amounts due currently | (382) | (95) | |||||||||
| Total long-term debt less amounts due currently | $ | 10,493 | $ | 9,235 | |||||||
| September 30, 2021 | ||||||||||||||||||||||||||||||||
| 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 | $ | — | $ | 1,005 | $ | 1,720 | |||||||||||||||||||||||
| Term Loan B-3 Facility (b) | December 31, 2025 | 2,550 | 2,550 | — | — | |||||||||||||||||||||||||||
| Total Vistra Operations Credit Facilities | $ | 5,275 | $ | 2,550 | $ | 1,005 | $ | 1,720 | ||||||||||||||||||||||||
| 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 | $720 | February 2024 | 3.71 | % | - | 3.72% | ||||||||||||||||||||
| Swapped to variable | $720 | February 2024 | 3.20 | % | - | 3.20% | ||||||||||||||||||||
| Swapped to fixed (a) | $3,000 | July 2026 | 4.72 | % | - | 4.79% | ||||||||||||||||||||
| Swapped to variable (a) | $700 | July 2026 | 3.28 | % | - | 3.33% | ||||||||||||||||||||
| September 30, 2021 | |||||
| Remainder of 2021 | $ | 151 | |||
| 2022 | 257 | ||||
| 2023 | 40 | ||||
| 2024 | 1,540 | ||||
| 2025 | 2,470 | ||||
| Thereafter | 6,496 | ||||
| Unamortized premiums, discounts and debt issuance costs | (79) | ||||
| Total long-term debt, including amounts due currently | $ | 10,875 | |||
|
Common
Stock (a) |
Treasury Stock | Additional Paid-in Capital | Retained Earnings (Deficit) | Accumulated Other Comprehensive Income (Loss) | Total Stockholders' Equity | Noncontrolling Interest | Total Equity | ||||||||||||||||||||||||||||||||||||||||
| Balance at June 30, 2021 | $ | 5 | $ | (1,148) | $ | 9,816 | $ | (2,552) | $ | (45) | $ | 6,076 | $ | (8) | $ | 6,068 | |||||||||||||||||||||||||||||||
| Stock repurchases | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Dividends declared on common stock | — | — | — | (72) | — | (72) | — | (72) | |||||||||||||||||||||||||||||||||||||||
| Effects of stock-based incentive compensation plans | — | — | 12 | — | — | 12 | — | 12 | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | — | — | — | 7 | — | 7 | 3 | 10 | |||||||||||||||||||||||||||||||||||||||
| Change in accumulated other comprehensive income (loss) | — | — | — | — | 14 | 14 | — | 14 | |||||||||||||||||||||||||||||||||||||||
| Other | — | — | 1 | (2) | — | (1) | — | (1) | |||||||||||||||||||||||||||||||||||||||
|
Balance at September 30, 2021
|
$ | 5 | $ | (1,148) | $ | 9,829 | $ | (2,619) | $ | (31) | $ | 6,036 | $ | (5) | $ | 6,031 | |||||||||||||||||||||||||||||||
|
Common
Stock (a) |
Treasury Stock | Additional Paid-in Capital | Retained Earnings (Deficit) | Accumulated Other Comprehensive Income (Loss) | Total Stockholders' Equity | Noncontrolling Interest in Subsidiary | Total Equity | ||||||||||||||||||||||||||||||||||||||||
|
Balance at
December 31, 2020
|
$ | 5 | $ | (973) | $ | 9,786 | $ | (399) | $ | (48) | $ | 8,371 | $ | (10) | $ | 8,361 | |||||||||||||||||||||||||||||||
| Stock repurchases | — | (175) | — | — | — | (175) | — | (175) | |||||||||||||||||||||||||||||||||||||||
| Dividends declared on common stock | — | — | — | (219) | — | (219) | — | (219) | |||||||||||||||||||||||||||||||||||||||
| Effects of stock-based incentive compensation plans | — | — | 39 | — | — | 39 | — | 39 | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | — | — | — | (2,000) | — | (2,000) | 6 | (1,994) | |||||||||||||||||||||||||||||||||||||||
| Change in accumulated other comprehensive income (loss) | — | — | — | — | 17 | 17 | — | 17 | |||||||||||||||||||||||||||||||||||||||
| Other | — | — | 4 | (1) | — | 3 | (1) | 2 | |||||||||||||||||||||||||||||||||||||||
|
Balance at September 30, 2021
|
$ | 5 | $ | (1,148) | $ | 9,829 | $ | (2,619) | $ | (31) | $ | 6,036 | $ | (5) | $ | 6,031 | |||||||||||||||||||||||||||||||
|
Common
Stock |
Treasury Stock | Additional Paid-in Capital | Retained Earnings (Deficit) | Accumulated Other Comprehensive Income (Loss) | Total Stockholders' Equity | Noncontrolling Interest | Total Equity | ||||||||||||||||||||||||||||||||||||||||
| Balance at June 30, 2020 | $ | 5 | $ | (973) | $ | 9,754 | $ | (678) | $ | (52) | $ | 8,056 | $ | (12) | $ | 8,044 | |||||||||||||||||||||||||||||||
| Dividends declared on common stock | — | — | — | (66) | — | (66) | — | (66) | |||||||||||||||||||||||||||||||||||||||
| Effects of stock-based incentive compensation plans | — | — | 18 | — | — | 18 | — | 18 | |||||||||||||||||||||||||||||||||||||||
| Net income | — | — | — | 443 | — | 443 | (1) | 442 | |||||||||||||||||||||||||||||||||||||||
| Change in accumulated other comprehensive income (loss) | — | — | — | — | (4) | (4) | — | (4) | |||||||||||||||||||||||||||||||||||||||
| Other | — | — | (1) | (2) | — | (3) | — | (3) | |||||||||||||||||||||||||||||||||||||||
|
Balance at September 30, 2020
|
$ | 5 | $ | (973) | $ | 9,771 | $ | (303) | $ | (56) | $ | 8,444 | $ | (13) | $ | 8,431 | |||||||||||||||||||||||||||||||
|
Common
Stock (a) |
Treasury Stock | Additional Paid-in Capital | Retained Earnings (Deficit) | Accumulated Other Comprehensive Income (Loss) | Total Stockholders' Equity | Noncontrolling Interest in Subsidiary | Total Equity | ||||||||||||||||||||||||||||||||||||||||
|
Balance at
December 31, 2019
|
$ | 5 | $ | (973) | $ | 9,721 | $ | (764) | $ | (30) | $ | 7,959 | $ | 1 | $ | 7,960 | |||||||||||||||||||||||||||||||
| Dividends declared on common stock | — | — | — | (198) | — | (198) | — | (198) | |||||||||||||||||||||||||||||||||||||||
| Effects of stock-based incentive compensation plans | — | — | 48 | — | — | 48 | — | 48 | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | — | — | — | 665 | — | 665 | (14) | 651 | |||||||||||||||||||||||||||||||||||||||
| Adoption of accounting standard | — | — | — | (4) | — | (4) | — | (4) | |||||||||||||||||||||||||||||||||||||||
| Change in accumulated other comprehensive income (loss) | — | — | — | — | (26) | (26) | — | (26) | |||||||||||||||||||||||||||||||||||||||
| Other | — | — | 2 | (2) | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
|
Balance at September 30, 2020
|
$ | 5 | $ | (973) | $ | 9,771 | $ | (303) | $ | (56) | $ | 8,444 | $ | (13) | $ | 8,431 | |||||||||||||||||||||||||||||||
| September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Level
1 |
Level
2 |
Level
3 (a) |
Reclass
(b) |
Total |
Level
1 |
Level
2 |
Level
3 (a) |
Reclass
(b) |
Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commodity contracts | $ | 2,881 | $ | 1,165 | $ | 440 | $ | 116 | $ | 4,602 | $ | 452 | $ | 201 | $ | 205 | $ | 76 | $ | 934 | |||||||||||||||||||||||||||||||||||||||
| Interest rate swaps | — | 39 | — | — | 39 | — | 72 | — | — | 72 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Nuclear decommissioning trust – equity securities (c) | 671 | — | — | 671 | 623 | — | — | 623 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Nuclear decommissioning trust – debt securities (c) | — | 654 | — | 654 | — | 618 | — | 618 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Sub-total | $ | 3,552 | $ | 1,858 | $ | 440 | $ | 116 | 5,966 | $ | 1,075 | $ | 891 | $ | 205 | $ | 76 | 2,247 | |||||||||||||||||||||||||||||||||||||||||
| Assets measured at net asset value (d): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Nuclear decommissioning trust – equity securities (c) | 502 | 433 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 6,468 | $ | 2,680 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commodity contracts | $ | 3,519 | $ | 1,265 | $ | 664 | $ | 116 | $ | 5,564 | $ | 578 | $ | 172 | $ | 183 | $ | 76 | $ | 1,009 | |||||||||||||||||||||||||||||||||||||||
| Interest rate swaps | — | 280 | — | — | 280 | — | 404 | — | — | 404 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities | $ | 3,519 | $ | 1,545 | $ | 664 | $ | 116 | $ | 5,844 | $ | 578 | $ | 576 | $ | 183 | $ | 76 | $ | 1,413 | |||||||||||||||||||||||||||||||||||||||
| September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Contract Type (a) | Assets | Liabilities | Total | Valuation Technique | Significant Unobservable Input | Range (b) | Average (b) | |||||||||||||||||||||||||||||||||||||||||||
| Electricity purchases and sales | $ | 283 | $ | (462) | $ | (179) | Income Approach | Hourly price curve shape (c) | $ | — | to | $60 | $30 | |||||||||||||||||||||||||||||||||||||
| MWh | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Illiquid delivery periods for hub power prices and heat rates (d) | $ | 20 | to | $160 | $90 | |||||||||||||||||||||||||||||||||||||||||||||
| MWh | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Options | 16 | (97) | (81) | Option Pricing Model | Gas to power correlation (e) | 10 | % | to | 100% | 55% | ||||||||||||||||||||||||||||||||||||||||
| Power and gas volatility (e) | 5 | % | to | 500% | 248% | |||||||||||||||||||||||||||||||||||||||||||||
| Financial transmission rights | 81 | (29) | 52 | Market Approach (f) | Illiquid price differences between settlement points (g) | $ | (30) | to | $15 | $(6) | ||||||||||||||||||||||||||||||||||||||||
| MWh | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Natural gas | 17 | (70) | (53) | Income Approach | Gas basis (h) | $ | — | to | $15 | $6 | ||||||||||||||||||||||||||||||||||||||||
| MMBtu | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Coal | 28 | — | 28 | Income Approach | Probability of default (i) | —% | to | 40% | 20 | % | ||||||||||||||||||||||||||||||||||||||||
| Recovery rate (j) | —% | to | 40% | 20 | % | |||||||||||||||||||||||||||||||||||||||||||||
| Other (k) | 15 | (6) | 9 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 440 | $ | (664) | $ | (224) | ||||||||||||||||||||||||||||||||||||||||||||
| 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 ERCOT 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Natural gas | 7 | (14) | (7) | Income Approach | Gas basis (h) | $ | (1) | to | $— | $— | ||||||||||||||||||||||||||||||||||||||||
| MMBtu | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Coal | 1 | (5) | (4) | Income Approach | Probability of default (i) | —% | to | 40% | 20 | % | ||||||||||||||||||||||||||||||||||||||||
| Recovery rate (j) | —% | to | 40% | 20 | % | |||||||||||||||||||||||||||||||||||||||||||||
| Other (k) | 6 | (2) | 4 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 205 | $ | (183) | $ | 22 | ||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| Net asset (liability) balance at beginning of period | $ | 46 | $ | 114 | $ | 22 | $ | (74) | |||||||||||||||
| Total unrealized valuation gains (losses) (a) | (174) | (22) | — | 77 | |||||||||||||||||||
| Purchases, issuances and settlements (b): | |||||||||||||||||||||||
| Purchases | 33 | 39 | 73 | 129 | |||||||||||||||||||
| Issuances | (12) | (6) | (22) | (12) | |||||||||||||||||||
| Settlements | (72) | (20) | (238) | (68) | |||||||||||||||||||
| Transfers into Level 3 (c) | (28) | 4 | (26) | 3 | |||||||||||||||||||
| Transfers out of Level 3 (c) | (17) | 7 | (33) | 61 | |||||||||||||||||||
| Net change (d) | (270) | 2 | (246) | 190 | |||||||||||||||||||
| Net asset balance at end of period | $ | (224) | $ | 116 | $ | (224) | $ | 116 | |||||||||||||||
| Unrealized valuation gains (losses) relating to instruments held at end of period | $ | (224) | $ | (12) | $ | (240) | $ | 119 | |||||||||||||||
| September 30, 2021 | |||||||||||||||||||||||||||||
| Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||||||
| Commodity Contracts | Interest Rate Swaps | Commodity Contracts | Interest Rate Swaps | Total | |||||||||||||||||||||||||
| Current assets | $ | 4,106 | $ | 19 | $ | 62 | $ | — | $ | 4,187 | |||||||||||||||||||
| Noncurrent assets | 424 | 20 | 10 | — | 454 | ||||||||||||||||||||||||
| Current liabilities | (15) | — | (4,861) | (72) | (4,948) | ||||||||||||||||||||||||
| Noncurrent liabilities | (29) | — | (659) | (208) | (896) | ||||||||||||||||||||||||
| Net assets (liabilities) | $ | 4,486 | $ | 39 | $ | (5,448) | $ | (280) | $ | (1,203) | |||||||||||||||||||
| 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) | |||||||||||||||||||
| Derivative (condensed consolidated statements of operations presentation) | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| Commodity contracts (Operating revenues) | $ | (919) | $ | 147 | $ | (1,017) | $ | 410 | |||||||||||||||
| Commodity contracts (Fuel, purchased power costs and delivery fees) | 333 | 18 | 448 | (40) | |||||||||||||||||||
| Interest rate swaps (Interest expense and related charges) | (1) | (2) | 53 | (209) | |||||||||||||||||||
| Net gain (loss) | $ | (587) | $ | 163 | $ | (516) | $ | 161 | |||||||||||||||
| September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||
|
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 | $ | 4,486 | $ | (3,947) | $ | (49) | $ | 490 | $ | 858 | $ | (667) | $ | (11) | $ | 180 | ||||||||||||||||||||||||||||||||||
| Interest rate swaps | 39 | (39) | — | — | 72 | (72) | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Total derivative assets | 4,525 | (3,986) | (49) | 490 | 930 | (739) | (11) | 180 | ||||||||||||||||||||||||||||||||||||||||||
| Derivative liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Commodity contracts | (5,448) | 3,947 | 681 | (820) | (933) | 667 | 138 | (128) | ||||||||||||||||||||||||||||||||||||||||||
| Interest rate swaps | (280) | 39 | — | (241) | (404) | 72 | — | (332) | ||||||||||||||||||||||||||||||||||||||||||
| Total derivative liabilities | (5,728) | 3,986 | 681 | (1,061) | (1,337) | 739 | 138 | (460) | ||||||||||||||||||||||||||||||||||||||||||
| Net amounts | $ | (1,203) | $ | — | $ | 632 | $ | (571) | $ | (407) | $ | — | $ | 127 | $ | (280) | ||||||||||||||||||||||||||||||||||
| September 30, 2021 | December 31, 2020 | |||||||||||||||||||
| Derivative type | Notional Volume | Unit of Measure | ||||||||||||||||||
| Natural gas (a) | 5,030 | 5,264 | Million MMBtu | |||||||||||||||||
| Electricity | 437,475 | 438,863 | GWh | |||||||||||||||||
| Financial transmission rights (b) | 210,432 | 217,350 | GWh | |||||||||||||||||
| Coal | 32 | 20 | Million U.S. tons | |||||||||||||||||
| Fuel oil | 106 | 176 | Million gallons | |||||||||||||||||
| Emissions | 32 | 8 | Million tons | |||||||||||||||||
| Renewable energy certificates | 31 | 18 | 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 | |||||||||||||||
|
September 30,
2021 |
December 31,
2020 |
||||||||||
| Fair value of derivative contract liabilities (a) | $ | (1,706) | $ | (679) | |||||||
| Offsetting fair value under netting arrangements (b) | 1,069 | 262 | |||||||||
| Cash collateral and letters of credit | 52 | 35 | |||||||||
| Liquidity exposure | $ | (585) | $ | (382) | |||||||
| Three months ended | Retail | Texas | East | West | Sunset | Asset Closure | Corporate and Other (c) | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||
| Three months ended | Retail | Texas | East | West | Sunset | Asset Closure | Corporate and Other | Eliminations (1) | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||
|
September 30, 2021
|
$ | (383) | $ | (697) | $ | (303) | $ | (46) | $ | (549) | $ | — | $ | — | $ | 1,117 | $ | (861) | ||||||||||||||||||||||||||||||||||||||
|
September 30, 2020
|
(8) | 79 | 23 | 5 | (133) | — | — | 321 | $ | 287 | ||||||||||||||||||||||||||||||||||||||||||||||
|
Nine Months ended
|
Retail | Texas | East | West | Sunset | Asset Closure | Corporate and Other | Eliminations (1) | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||
|
September 30, 2021
|
$ | (406) | $ | (2,354) | $ | (486) | $ | (135) | $ | (1,009) | $ | — | $ | — | $ | 3,244 | $ | (1,146) | ||||||||||||||||||||||||||||||||||||||
|
September 30, 2020
|
(12) | 462 | 9 | 4 | (172) | — | — | 127 | $ | 418 | ||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| Interest paid/accrued | $ | 124 | $ | 113 | $ | 354 | $ | 362 | |||||||||||||||
| Unrealized mark-to-market net (gains) losses on interest rate swaps | (13) | (11) | (92) | 181 | |||||||||||||||||||
| Amortization of debt issuance costs, discounts and premiums | 9 | 5 | 23 | 12 | |||||||||||||||||||
| Debt extinguishment (gain) loss | — | (6) | 1 | (17) | |||||||||||||||||||
| Capitalized interest | (4) | (5) | (22) | (14) | |||||||||||||||||||
| Other | 8 | 5 | 24 | 17 | |||||||||||||||||||
| Total interest expense and related charges | $ | 124 | $ | 101 | $ | 288 | $ | 541 | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| Other income: | |||||||||||||||||||||||
| Insurance settlement (a) | $ | 9 | $ | 1 | $ | 74 | $ | 6 | |||||||||||||||
| Gain on settlement of rail transportation disputes (b) | — | — | 15 | — | |||||||||||||||||||
| Sale of land (c) | 1 | 6 | 2 | 6 | |||||||||||||||||||
| Interest income | — | — | — | 1 | |||||||||||||||||||
| All other | 6 | 1 | 17 | 6 | |||||||||||||||||||
| Total other income | $ | 16 | $ | 8 | $ | 108 | $ | 19 | |||||||||||||||
| Other deductions: | |||||||||||||||||||||||
| Loss on disposal of investment in NELP (d) | $ | — | $ | — | $ | — | $ | 29 | |||||||||||||||
| All other | 5 | — | 13 | 6 | |||||||||||||||||||
| Total other deductions | $ | 5 | $ | — | $ | 13 | $ | 35 | |||||||||||||||
| September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
| Current Assets | Noncurrent Assets | Current Assets | Noncurrent Assets | ||||||||||||||||||||
| Amounts related to remediation escrow accounts | $ | 22 | $ | 14 | $ | 19 | $ | 19 | |||||||||||||||
| Total restricted cash | $ | 22 | $ | 14 | $ | 19 | $ | 19 | |||||||||||||||
|
September 30,
2021 |
December 31,
2020 |
||||||||||
| Wholesale and retail trade accounts receivable | $ | 1,588 | $ | 1,324 | |||||||
| Allowance for uncollectible accounts | (59) | (45) | |||||||||
| Trade accounts receivable — net | $ | 1,529 | $ | 1,279 | |||||||
| Nine Months Ended September 30, | |||||||||||
| 2021 | 2020 | ||||||||||
| Allowance for uncollectible accounts receivable at beginning of period | $ | 45 | $ | 42 | |||||||
| Increase for bad debt expense | 86 | 85 | |||||||||
| Decrease for account write-offs | (72) | (69) | |||||||||
| Allowance for uncollectible accounts receivable at end of period | $ | 59 | $ | 58 | |||||||
|
September 30,
2021 |
December 31,
2020 |
||||||||||
| Materials and supplies | $ | 260 | $ | 260 | |||||||
| Fuel stock | 173 | 236 | |||||||||
| Natural gas in storage | 38 | 19 | |||||||||
| Total inventories | $ | 471 | $ | 515 | |||||||
|
September 30,
2021 |
December 31,
2020 |
||||||||||
| Nuclear plant decommissioning trust | $ | 1,827 | $ | 1,674 | |||||||
| Assets related to employee benefit plans | 41 | 41 | |||||||||
| Land | 44 | 44 | |||||||||
| Miscellaneous other | 3 | — | |||||||||
| Total investments | $ | 1,915 | $ | 1,759 | |||||||
|
September 30,
2021 |
December 31, 2020 | ||||||||||
| Debt securities (a) | $ | 654 | $ | 618 | |||||||
| Equity securities (b) | 1,173 | 1,056 | |||||||||
| Total | $ | 1,827 | $ | 1,674 | |||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| Proceeds from sales of securities | $ | 99 | $ | 67 | $ | 366 | $ | 291 | |||||||||||||||
| Investments in securities | $ | (105) | $ | (73) | $ | (382) | $ | (307) | |||||||||||||||
|
September 30,
2021 |
December 31,
2020 |
||||||||||
| Power generation and structures | $ | 16,079 | $ | 15,222 | |||||||
| Land | 615 | 617 | |||||||||
| Office and other equipment | 177 | 173 | |||||||||
| Total | 16,871 | 16,012 | |||||||||
| Less accumulated depreciation | (4,556) | (3,614) | |||||||||
| Net of accumulated depreciation | 12,315 | 12,398 | |||||||||
| Finance lease right-of-use assets (net of accumulated depreciation) | 175 | 182 | |||||||||
|
Nuclear fuel (net of accumulated amortization of $153 million and $91 million)
|
191 | 207 | |||||||||
| Construction work in progress | 419 | 712 | |||||||||
| Property, plant and equipment — net | $ | 13,100 | $ | 13,499 | |||||||
| Nine Months Ended September 30, 2021 | Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
|
Nuclear Plant Decom-
missioning |
Mining Land Reclamation | Coal Ash and Other | Total |
Nuclear Plant Decom-
missioning |
Mining Land Reclamation | Coal Ash and Other | Total | ||||||||||||||||||||||||||||||||||||||||
| Liability at beginning of period | $ | 1,585 | $ | 359 | $ | 492 | $ | 2,436 | $ | 1,320 | $ | 410 | $ | 508 | $ | 2,238 | |||||||||||||||||||||||||||||||
| Additions: | |||||||||||||||||||||||||||||||||||||||||||||||
| Accretion | 38 | 12 | 15 | 65 | 34 | 15 | 18 | 67 | |||||||||||||||||||||||||||||||||||||||
| Adjustment for change in estimates | — | (16) | 10 | (6) | 219 | (10) | 36 | 245 | |||||||||||||||||||||||||||||||||||||||
| Reductions: | |||||||||||||||||||||||||||||||||||||||||||||||
| Payments | — | (48) | (11) | (59) | — | (48) | (34) | (82) | |||||||||||||||||||||||||||||||||||||||
| Liability at end of period | 1,623 | 307 | 506 | 2,436 | 1,573 | 367 | 528 | 2,468 | |||||||||||||||||||||||||||||||||||||||
| Less amounts due currently | — | (88) | (22) | (110) | — | (98) | (17) | (115) | |||||||||||||||||||||||||||||||||||||||
| Noncurrent liability at end of period | $ | 1,623 | $ | 219 | $ | 484 | $ | 2,326 | 1,573 | 269 | 511 | 2,353 | |||||||||||||||||||||||||||||||||||
|
September 30,
2021 |
December 31,
2020 |
||||||||||
| Retirement and other employee benefits | $ | 296 | $ | 312 | |||||||
| Winter Storm Uri impact (a) | 670 | — | |||||||||
|
Identifiable intangible liabilities (Note 5)
|
150 | 289 | |||||||||
| Regulatory liability | 204 | 89 | |||||||||
| Finance lease liabilities | 234 | 206 | |||||||||
| Uncertain tax positions, including accrued interest | 13 | 12 | |||||||||
| Liability for third-party remediation | 21 | 31 | |||||||||
| Accrued severance costs | 40 | 54 | |||||||||
| Other accrued expenses | 186 | 138 | |||||||||
| Total other noncurrent liabilities and deferred credits | $ | 1,814 | $ | 1,131 | |||||||
| September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||
|
Long-term debt (see Note 10):
|
Fair Value Hierarchy | Carrying Amount |
Fair
Value |
Carrying Amount |
Fair
Value |
|||||||||||||||||||||||||||
| Long-term debt under the Vistra Operations Credit Facilities | Level 2 | $ | 2,556 | $ | 2,531 | $ | 2,579 | $ | 2,565 | |||||||||||||||||||||||
| Vistra Operations Senior Notes | Level 2 | 7,877 | 8,241 | 6,634 | 7,204 | |||||||||||||||||||||||||||
| Forward Capacity Agreements | Level 3 | 338 | 338 | 45 | 45 | |||||||||||||||||||||||||||
| Equipment Financing Agreements | Level 3 | 97 | 97 | 59 | 59 | |||||||||||||||||||||||||||
| Building Financing | Level 2 | 4 | 4 | 10 | 10 | |||||||||||||||||||||||||||
| Other debt | Level 3 | 3 | 3 | 3 | 3 | |||||||||||||||||||||||||||
|
September 30,
2021 |
December 31,
2020 |
||||||||||
| Cash and cash equivalents | $ | 351 | $ | 406 | |||||||
| Restricted cash included in current assets | 22 | 19 | |||||||||
| Restricted cash included in noncurrent assets | 14 | 19 | |||||||||
| Total cash, cash equivalents and restricted cash | $ | 387 | $ | 444 | |||||||
| Nine Months Ended September 30, | |||||||||||
| 2021 | 2020 | ||||||||||
| Cash payments related to: | |||||||||||
| Interest paid | $ | 425 | $ | 468 | |||||||
| Capitalized interest | (22) | (14) | |||||||||
| Interest paid (net of capitalized interest) | $ | 403 | $ | 454 | |||||||
| Income taxes paid (refunds received) (a) | $ | 44 | $ | (11) | |||||||
| Noncash investing and financing activities: | |||||||||||
| Disposition of investment in NELP | $ | — | $ | 123 | |||||||
| Acquisition of investment in NJEA | $ | — | $ | 90 | |||||||
| 2021 | 2022 | ||||||||||
| Nuclear/Renewable/Coal Generation: | |||||||||||
| Texas | 97 | % | 85 | % | |||||||
| Sunset | 100 | % | 93 | % | |||||||
| Gas Generation: | |||||||||||
| Texas | 89 | % | 53 | % | |||||||
| East | 98 | % | 89 | % | |||||||
| West | 100 | % | 92 | % | |||||||
| Balance 2021 | 2022 | ||||||||||
| Texas: | |||||||||||
| Nuclear/Renewable/Coal Generation: $2.50/MWh increase in power price | $ | 1 | $ | 18 | |||||||
| Nuclear/Renewable/Coal Generation: $2.50/MWh decrease in power price | $ | (1) | $ | (18) | |||||||
| Gas Generation: $1.00/MWh increase in spark spread | $ | 1 | $ | 20 | |||||||
| Gas Generation: $1.00/MWh decrease in spark spread | $ | (1) | $ | (18) | |||||||
| Residual Natural Gas Position: $0.25/MMBtu increase in natural gas price | $ | 1 | $ | (22) | |||||||
| Residual Natural Gas Position: $0.25/MMBtu decrease in natural gas price | $ | (1) | $ | 15 | |||||||
| East: | |||||||||||
| Gas Generation: $1.00/MWh increase in spark spread | $ | — | $ | 6 | |||||||
| Gas Generation: $1.00/MWh decrease in spark spread | $ | — | $ | (4) | |||||||
| Residual Natural Gas Position: $0.25/MMBtu increase in natural gas price | $ | — | $ | (3) | |||||||
| Residual Natural Gas Position: $0.25/MMBtu decrease in natural gas price | $ | — | $ | 3 | |||||||
| West: | |||||||||||
| Gas Generation: $1.00/MWh increase in spark spread | $ | — | $ | 1 | |||||||
| Gas Generation: $1.00/MWh decrease in spark spread | $ | — | $ | — | |||||||
| Sunset: | |||||||||||
| Coal Generation: $2.50/MWh increase in power price | $ | — | $ | 7 | |||||||
| Coal Generation: $2.50/MWh decrease in power price | $ | — | $ | (5) | |||||||
| Clearing Price per MW-day | East Segment MW Cleared | Sunset Segment MW Cleared |
Total
MW Cleared |
||||||||||||||||||||
| RTO zone | $ | 50.00 | 2,967 | — | 2,967 | ||||||||||||||||||
| ComEd zone | $ | 68.96 | 1,255 | 649 | 1,904 | ||||||||||||||||||
| DEOK zone | $ | 71.69 | 99 | 870 | 969 | ||||||||||||||||||
| MAAC zone | $ | 95.79 | 548 | — | 548 | ||||||||||||||||||
| EMAAC zone | $ | 97.86 | 831 | — | 831 | ||||||||||||||||||
| ATSI zone | $ | 50.00 | — | — | — | ||||||||||||||||||
| Total | $ | 66.90 | 5,700 | 1,519 | 7,219 | ||||||||||||||||||
| East Segment | Sunset Segment | Total | |||||||||||||||||||||
| Total capacity sold, net (MW) | 5,700 | 1,519 | 7,219 | ||||||||||||||||||||
| Average price per MW-day | $ | 68.54 | $ | 70.52 | $ | 68.95 | |||||||||||||||||
|
Three Months Ended
September 30, |
Favorable (Unfavorable)
$ Change |
Nine Months Ended
September 30, |
Favorable (Unfavorable)
$ Change |
||||||||||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||
| Operating revenues | $ | 2,991 | $ | 3,552 | $ | (561) | $ | 8,763 | $ | 8,919 | $ | (156) | |||||||||||||||||||||||
| Fuel, purchased power costs and delivery fees | (1,763) | (1,469) | (294) | (7,827) | (3,832) | (3,995) | |||||||||||||||||||||||||||||
| Operating costs | (372) | (457) | 85 | (1,173) | (1,249) | 76 | |||||||||||||||||||||||||||||
| Depreciation and amortization | (468) | (410) | (58) | (1,355) | (1,284) | (71) | |||||||||||||||||||||||||||||
| Selling, general and administrative expenses | (269) | (268) | (1) | (771) | (755) | (16) | |||||||||||||||||||||||||||||
| Impairment of long-lived assets | — | (272) | 272 | (38) | (356) | 318 | |||||||||||||||||||||||||||||
| Operating income (loss) | 119 | 676 | (557) | (2,401) | 1,443 | (3,844) | |||||||||||||||||||||||||||||
| Other income | 16 | 8 | 8 | 108 | 19 | 89 | |||||||||||||||||||||||||||||
| Other deductions | (5) | — | (5) | (13) | (35) | 22 | |||||||||||||||||||||||||||||
| Interest expense and related charges | (124) | (101) | (23) | (288) | (541) | 253 | |||||||||||||||||||||||||||||
| Impacts of Tax Receivable Agreement | 35 | 58 | (23) | 31 | 44 | (13) | |||||||||||||||||||||||||||||
| Equity in earnings of unconsolidated investment | — | — | — | — | 4 | (4) | |||||||||||||||||||||||||||||
| Income (loss) before income taxes | 41 | 641 | (600) | (2,563) | 934 | (3,497) | |||||||||||||||||||||||||||||
| Income tax (expense) benefit | (31) | (199) | 168 | 569 | (283) | 852 | |||||||||||||||||||||||||||||
| Net income (loss) | $ | 10 | $ | 442 | $ | (432) | $ | (1,994) | $ | 651 | $ | (2,645) | |||||||||||||||||||||||
| Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
| Operating revenues | $ | 2,160 | $ | 843 | $ | 508 | $ | 90 | $ | (122) | $ | — | $ | (488) | $ | 2,991 | |||||||||||||||||||||||||||||||
| Fuel, purchased power costs and delivery fees | (1,095) | (482) | (496) | (78) | (100) | — | 488 | (1,763) | |||||||||||||||||||||||||||||||||||||||
| Operating costs | (38) | (163) | (57) | (9) | (104) | (1) | — | (372) | |||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | (53) | (179) | (164) | (15) | (40) | — | (17) | (468) | |||||||||||||||||||||||||||||||||||||||
| Selling, general and administrative expenses | (192) | (23) | (19) | (7) | (14) | (5) | (9) | (269) | |||||||||||||||||||||||||||||||||||||||
| Operating income (loss) | 782 | (4) | (228) | (19) | (380) | (6) | (26) | 119 | |||||||||||||||||||||||||||||||||||||||
| Other income | 1 | 7 | — | — | 7 | 1 | — | 16 | |||||||||||||||||||||||||||||||||||||||
| Other deductions | — | (2) | — | — | (1) | — | (2) | (5) | |||||||||||||||||||||||||||||||||||||||
| Interest expense and related charges | (2) | 3 | (5) | 1 | (1) | (1) | (119) | (124) | |||||||||||||||||||||||||||||||||||||||
| Impacts of Tax Receivable Agreement | — | — | — | — | — | — | 35 | 35 | |||||||||||||||||||||||||||||||||||||||
| Income (loss) before income taxes | 781 | 4 | (233) | (18) | (375) | (6) | (112) | 41 | |||||||||||||||||||||||||||||||||||||||
| Income tax expense | (2) | — | — | — | — | — | (29) | (31) | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 779 | $ | 4 | $ | (233) | $ | (18) | $ | (375) | $ | (6) | $ | (141) | $ | 10 | |||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
| Operating revenues | $ | 2,521 | $ | 1,541 | $ | 644 | $ | 84 | $ | 299 | $ | 1 | $ | (1,538) | $ | 3,552 | |||||||||||||||||||||||||||||||
| Fuel, purchased power costs and delivery fees | (2,119) | (328) | (295) | (38) | (227) | — | 1,538 | (1,469) | |||||||||||||||||||||||||||||||||||||||
| Operating costs | (35) | (180) | (54) | (8) | (133) | (47) | — | (457) | |||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | (67) | (107) | (181) | (5) | (22) | (11) | (17) | (410) | |||||||||||||||||||||||||||||||||||||||
| Selling, general and administrative expenses | (190) | (18) | (12) | (8) | (15) | (8) | (17) | (268) | |||||||||||||||||||||||||||||||||||||||
| Impairment of long-lived assets | — | — | — | — | (272) | — | — | (272) | |||||||||||||||||||||||||||||||||||||||
| Operating income (loss) | 110 | 908 | 102 | 25 | (370) | (65) | (34) | 676 | |||||||||||||||||||||||||||||||||||||||
| Other income | 1 | 1 | — | 1 | — | 5 | — | 8 | |||||||||||||||||||||||||||||||||||||||
| Other deductions | — | (3) | — | — | 3 | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Interest expense and related charges | (2) | 2 | (2) | 3 | (1) | — | (101) | (101) | |||||||||||||||||||||||||||||||||||||||
| Impacts of Tax Receivable Agreement | — | — | — | — | — | — | 58 | 58 | |||||||||||||||||||||||||||||||||||||||
| Income (loss) before income taxes | 109 | 908 | 100 | 29 | (368) | (60) | (77) | 641 | |||||||||||||||||||||||||||||||||||||||
| Income tax expense | — | — | — | — | — | — | (199) | (199) | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 109 | $ | 908 | $ | 100 | $ | 29 | $ | (368) | $ | (60) | $ | (276) | $ | 442 | |||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
| Operating revenues | $ | 5,829 | $ | 1,458 | $ | 1,738 | $ | 171 | $ | 109 | $ | — | $ | (542) | $ | 8,763 | |||||||||||||||||||||||||||||||
| Fuel, purchased power costs and delivery fees | (2,345) | (4,133) | (1,269) | (164) | (458) | — | 542 | (7,827) | |||||||||||||||||||||||||||||||||||||||
| Operating costs | (96) | (527) | (181) | (26) | (323) | (19) | (1) | (1,173) | |||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | (160) | (462) | (553) | (30) | (99) | — | (51) | (1,355) | |||||||||||||||||||||||||||||||||||||||
| Selling, general and administrative expenses | (539) | (62) | (56) | (22) | (42) | (20) | (30) | (771) | |||||||||||||||||||||||||||||||||||||||
| Impairment of long-lived assets | — | — | — | — | (38) | — | — | (38) | |||||||||||||||||||||||||||||||||||||||
| Operating income (loss) | 2,689 | (3,726) | (321) | (71) | (851) | (39) | (82) | (2,401) | |||||||||||||||||||||||||||||||||||||||
| Other income | 1 | 72 | — | — | 11 | 20 | 4 | 108 | |||||||||||||||||||||||||||||||||||||||
| Other deductions | (4) | (7) | — | — | — | — | (2) | (13) | |||||||||||||||||||||||||||||||||||||||
| Interest expense and related charges | (7) | 10 | (11) | 9 | (1) | (1) | (287) | (288) | |||||||||||||||||||||||||||||||||||||||
| Impacts of Tax Receivable Agreement | — | — | — | — | — | — | 31 | 31 | |||||||||||||||||||||||||||||||||||||||
| Income (loss) before income taxes | 2,679 | (3,651) | (332) | (62) | (841) | (20) | (336) | (2,563) | |||||||||||||||||||||||||||||||||||||||
| Income tax (expense) benefit | (2) | — | — | — | — | — | 571 | 569 | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 2,677 | $ | (3,651) | $ | (332) | $ | (62) | $ | (841) | $ | (20) | $ | 235 | $ | (1,994) | |||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
| Operating revenues | $ | 6,385 | $ | 3,245 | $ | 1,845 | $ | 211 | $ | 863 | $ | 3 | $ | (3,633) | $ | 8,919 | |||||||||||||||||||||||||||||||
| Fuel, purchased power costs and delivery fees | (5,133) | (805) | (897) | (115) | (515) | — | 3,633 | (3,832) | |||||||||||||||||||||||||||||||||||||||
| Operating costs | (94) | (560) | (192) | (22) | (314) | (66) | (1) | (1,249) | |||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | (229) | (340) | (540) | (14) | (101) | (12) | (48) | (1,284) | |||||||||||||||||||||||||||||||||||||||
| Selling, general and administrative expenses | (489) | (58) | (66) | (18) | (52) | (20) | (52) | (755) | |||||||||||||||||||||||||||||||||||||||
| Impairment of long-lived assets | — | — | — | — | (356) | — | — | (356) | |||||||||||||||||||||||||||||||||||||||
| Operating income (loss) | 440 | 1,482 | 150 | 42 | (475) | (95) | (101) | 1,443 | |||||||||||||||||||||||||||||||||||||||
| Other income | 1 | 3 | 1 | 1 | 4 | 8 | 1 | 19 | |||||||||||||||||||||||||||||||||||||||
| Other deductions | — | (7) | (30) | — | 4 | (2) | — | (35) | |||||||||||||||||||||||||||||||||||||||
| Interest expense and related charges | (8) | 6 | (6) | 6 | (2) | — | (537) | (541) | |||||||||||||||||||||||||||||||||||||||
| Impacts of Tax Receivable Agreement | — | — | — | — | — | — | 44 | 44 | |||||||||||||||||||||||||||||||||||||||
| Equity in earnings of unconsolidated investment | — | — | 4 | — | — | — | — | 4 | |||||||||||||||||||||||||||||||||||||||
| Income (loss) before income taxes | 433 | 1,484 | 119 | 49 | (469) | (89) | (593) | 934 | |||||||||||||||||||||||||||||||||||||||
| Income tax expense | — | — | — | — | — | — | (283) | (283) | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 433 | $ | 1,484 | $ | 119 | $ | 49 | $ | (469) | $ | (89) | $ | (876) | $ | 651 | |||||||||||||||||||||||||||||||
|
Three Months Ended
September 30, |
Favorable (Unfavorable)
$ Change |
Nine Months Ended
September 30, |
Favorable (Unfavorable)
$ Change |
||||||||||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 10 | $ | 442 | $ | (432) | $ | (1,994) | $ | 651 | $ | (2,645) | |||||||||||||||||||||||
| Income tax expense (benefit) | 31 | 199 | (168) | (569) | 283 | (852) | |||||||||||||||||||||||||||||
| Interest expense and related charges (a) | 124 | 101 | 23 | 288 | 541 | (253) | |||||||||||||||||||||||||||||
| Depreciation and amortization (b) | 489 | 431 | 58 | 1,416 | 1,341 | 75 | |||||||||||||||||||||||||||||
| EBITDA before Adjustments | 654 | 1,173 | (519) | (859) | 2,816 | (3,675) | |||||||||||||||||||||||||||||
| Unrealized net (gain) loss resulting from hedging transactions | 589 | (321) | 910 | 771 | (444) | 1,215 | |||||||||||||||||||||||||||||
| Generation plant retirement expenses | 5 | 43 | (38) | 19 | 43 | (24) | |||||||||||||||||||||||||||||
| Fresh start/purchase accounting impacts | (17) | — | (17) | (96) | 34 | (130) | |||||||||||||||||||||||||||||
| Impacts of Tax Receivable Agreement | (35) | (58) | 23 | (31) | (44) | 13 | |||||||||||||||||||||||||||||
| Non-cash compensation expenses | 11 | 16 | (5) | 40 | 46 | (6) | |||||||||||||||||||||||||||||
| Transition and merger expenses | (2) | (2) | — | (17) | 17 | (34) | |||||||||||||||||||||||||||||
| Impairment of long-lived assets | 2 | 272 | (270) | 40 | 356 | (316) | |||||||||||||||||||||||||||||
| Loss on disposal of investment in NELP | — | — | — | — | 29 | (29) | |||||||||||||||||||||||||||||
| COVID-19-related expenses (c) | 1 | 3 | (2) | 6 | 18 | (12) | |||||||||||||||||||||||||||||
| Winter Storm Uri impact (d) | (33) | — | (33) | 866 | — | 866 | |||||||||||||||||||||||||||||
| Other, net | (2) | 11 | (13) | 5 | 14 | (9) | |||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 1,173 | $ | 1,137 | $ | 36 | $ | 744 | $ | 2,885 | $ | (2,141) | |||||||||||||||||||||||
| Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 779 | $ | 4 | $ | (233) | $ | (18) | $ | (375) | $ | (6) | $ | (141) | $ | 10 | |||||||||||||||||||||||||||||||
| Income tax expense | 2 | — | — | — | — | — | 29 | 31 | |||||||||||||||||||||||||||||||||||||||
| Interest expense and related charges (a) | 2 | (3) | 5 | (1) | 1 | 1 | 119 | 124 | |||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization (b) | 53 | 200 | 164 | 15 | 40 | — | 17 | 489 | |||||||||||||||||||||||||||||||||||||||
| EBITDA before Adjustments | 836 | 201 | (64) | (4) | (334) | (5) | 24 | 654 | |||||||||||||||||||||||||||||||||||||||
| Unrealized net (gain) loss resulting from hedging transactions | (739) | 654 | 254 | 39 | 381 | — | — | 589 | |||||||||||||||||||||||||||||||||||||||
| Generation plant retirement expenses | — | — | — | — | 4 | — | 1 | 5 | |||||||||||||||||||||||||||||||||||||||
| Fresh start/purchase accounting impacts | (2) | (2) | — | — | (13) | — | — | (17) | |||||||||||||||||||||||||||||||||||||||
| Impacts of Tax Receivable Agreement | — | — | — | — | — | — | (35) | (35) | |||||||||||||||||||||||||||||||||||||||
| Non-cash compensation expenses | — | — | — | — | — | — | 11 | 11 | |||||||||||||||||||||||||||||||||||||||
| Transition and merger expenses | (4) | — | — | — | — | — | 2 | (2) | |||||||||||||||||||||||||||||||||||||||
| Impairment of long lived assets | — | 2 | — | — | — | — | — | 2 | |||||||||||||||||||||||||||||||||||||||
| COVID-19-related expenses (c) | — | 1 | — | — | — | — | — | 1 | |||||||||||||||||||||||||||||||||||||||
| Winter Storm Uri impacts (d) | (31) | (2) | — | — | — | — | — | (33) | |||||||||||||||||||||||||||||||||||||||
| Other, net | 5 | 4 | 3 | 1 | (2) | 1 | (14) | (2) | |||||||||||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 65 | $ | 858 | $ | 193 | $ | 36 | $ | 36 | $ | (4) | $ | (11) | $ | 1,173 | |||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 109 | $ | 908 | $ | 100 | $ | 29 | $ | (368) | $ | (60) | $ | (276) | $ | 442 | |||||||||||||||||||||||||||||||
| Income tax expense | — | — | — | 199 | 199 | ||||||||||||||||||||||||||||||||||||||||||
| Interest expense and related charges (a) | 2 | (2) | 2 | (3) | 1 | — | 101 | 101 | |||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization (b) | 67 | 127 | 181 | 5 | 22 | 12 | 17 | 431 | |||||||||||||||||||||||||||||||||||||||
| EBITDA before Adjustments | 178 | 1,033 | 283 | 31 | (345) | (48) | 41 | 1,173 | |||||||||||||||||||||||||||||||||||||||
| Unrealized net (gain) loss resulting from hedging transactions | (316) | (78) | (40) | (9) | 122 | — | — | (321) | |||||||||||||||||||||||||||||||||||||||
| Generation plant retirement expenses | — | — | — | — | 43 | — | — | 43 | |||||||||||||||||||||||||||||||||||||||
| Fresh start/purchase accounting impacts | (6) | — | 6 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Impacts of Tax Receivable Agreement | — | — | — | — | — | — | (58) | (58) | |||||||||||||||||||||||||||||||||||||||
| Non-cash compensation expenses | — | — | — | — | — | — | 16 | 16 | |||||||||||||||||||||||||||||||||||||||
| Transition and merger expenses | 1 | — | (5) | — | — | — | 2 | (2) | |||||||||||||||||||||||||||||||||||||||
| Impairment of long-lived assets | — | — | — | — | 272 | — | — | 272 | |||||||||||||||||||||||||||||||||||||||
| COVID-19-related expenses (c) | — | 2 | — | — | 1 | — | — | 3 | |||||||||||||||||||||||||||||||||||||||
| Other, net | 3 | 15 | 1 | 1 | — | 2 | (11) | 11 | |||||||||||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | (140) | $ | 972 | $ | 245 | $ | 23 | $ | 93 | $ | (46) | $ | (10) | $ | 1,137 | |||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 2,677 | $ | (3,651) | $ | (332) | $ | (62) | $ | (841) | $ | (20) | $ | 235 | $ | (1,994) | |||||||||||||||||||||||||||||||
| Income tax expense (benefit) | 2 | — | — | — | — | — | (571) | (569) | |||||||||||||||||||||||||||||||||||||||
| Interest expense and related charges (a) | 7 | (10) | 11 | (9) | 1 | 1 | 287 | 288 | |||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization (b) | 160 | 523 | 553 | 30 | 99 | — | 51 | 1,416 | |||||||||||||||||||||||||||||||||||||||
| EBITDA before Adjustments | 2,846 | (3,138) | 232 | (41) | (741) | (19) | 2 | (859) | |||||||||||||||||||||||||||||||||||||||
| Unrealized net (gain) loss resulting from hedging transactions | (2,840) | 2,269 | 407 | 120 | 815 | — | — | 771 | |||||||||||||||||||||||||||||||||||||||
| Generation plant retirement expenses | — | — | — | — | 19 | — | — | 19 | |||||||||||||||||||||||||||||||||||||||
| Fresh start/purchase accounting impacts | 1 | (3) | (74) | — | (20) | — | — | (96) | |||||||||||||||||||||||||||||||||||||||
| Impacts of Tax Receivable Agreement | — | — | — | — | — | — | (31) | (31) | |||||||||||||||||||||||||||||||||||||||
| Non-cash compensation expenses | — | — | — | — | — | — | 40 | 40 | |||||||||||||||||||||||||||||||||||||||
| Transition and merger expenses | (2) | — | — | — | — | (15) | — | (17) | |||||||||||||||||||||||||||||||||||||||
| Impairment of long-lived assets | — | 2 | — | — | 38 | — | — | 40 | |||||||||||||||||||||||||||||||||||||||
| COVID-19-related expenses (c) | — | 3 | 1 | — | 1 | — | 1 | 6 | |||||||||||||||||||||||||||||||||||||||
| Winter Storm Uri impacts (d) | 354 | 511 | — | — | 1 | — | — | 866 | |||||||||||||||||||||||||||||||||||||||
| Other, net | 17 | 6 | 7 | 2 | 2 | 2 | (31) | 5 | |||||||||||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 376 | $ | (350) | $ | 573 | $ | 81 | $ | 115 | $ | (32) | $ | (19) | $ | 744 | |||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
| Retail | Texas | East | West | Sunset |
Asset
Closure |
Eliminations / Corporate and Other |
Vistra
Consolidated |
||||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 433 | $ | 1,484 | $ | 119 | $ | 49 | $ | (469) | $ | (89) | $ | (876) | $ | 651 | |||||||||||||||||||||||||||||||
| Income tax expense | — | — | — | — | — | — | 283 | 283 | |||||||||||||||||||||||||||||||||||||||
| Interest expense and related charges (a) | 8 | (6) | 6 | (6) | 2 | — | 537 | 541 | |||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization (b) | 229 | 397 | 540 | 14 | 101 | 12 | 48 | 1,341 | |||||||||||||||||||||||||||||||||||||||
| EBITDA before Adjustments | 670 | 1,875 | 665 | 57 | (366) | (77) | (8) | 2,816 | |||||||||||||||||||||||||||||||||||||||
| Unrealized net (gain) loss resulting from hedging transactions | (114) | (449) | (37) | (1) | 157 | — | — | (444) | |||||||||||||||||||||||||||||||||||||||
| Generation plant retirement expenses | — | — | — | — | 43 | — | — | 43 | |||||||||||||||||||||||||||||||||||||||
| Fresh start/purchase accounting impacts | 1 | (4) | 23 | — | 14 | — | — | 34 | |||||||||||||||||||||||||||||||||||||||
| Impacts of Tax Receivable Agreement | — | — | — | — | — | — | (44) | (44) | |||||||||||||||||||||||||||||||||||||||
| Non-cash compensation expenses | — | — | — | — | — | — | 46 | 46 | |||||||||||||||||||||||||||||||||||||||
| Transition and merger expenses | 8 | 1 | 1 | — | — | (3) | 10 | 17 | |||||||||||||||||||||||||||||||||||||||
| Impairment of long-lived assets | — | — | — | — | 356 | — | — | 356 | |||||||||||||||||||||||||||||||||||||||
| Loss on disposal of investment in NELP | — | — | 29 | — | — | — | — | 29 | |||||||||||||||||||||||||||||||||||||||
| COVID-19-related expenses (c) | — | 12 | 2 | — | 3 | — | 1 | 18 | |||||||||||||||||||||||||||||||||||||||
| Other, net | 7 | 17 | 8 | 3 | 2 | 2 | (25) | 14 | |||||||||||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 572 | $ | 1,452 | $ | 691 | $ | 59 | $ | 209 | $ | (78) | $ | (20) | $ | 2,885 | |||||||||||||||||||||||||||||||
|
Three Months Ended
September 30, |
Favorable (Unfavorable)
Change |
Nine Months Ended
September 30, |
Favorable (Unfavorable)
Change |
||||||||||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||
| Operating revenues: | |||||||||||||||||||||||||||||||||||
| Revenues in ERCOT | $ | 1,917 | $ | 1,839 | $ | 78 | $ | 4,521 | $ | 4,536 | $ | (15) | |||||||||||||||||||||||
| Revenues in Northeast/Midwest | 624 | 683 | (59) | 1,715 | 1,862 | (147) | |||||||||||||||||||||||||||||
| Amortization expense | 2 | 7 | (5) | (1) | (1) | — | |||||||||||||||||||||||||||||
| Unrealized net losses on hedging activities (a) | (383) | (8) | (375) | (406) | (12) | (394) | |||||||||||||||||||||||||||||
| Total operating revenues | 2,160 | 2,521 | (361) | 5,829 | 6,385 | (556) | |||||||||||||||||||||||||||||
| Fuel, purchased power costs and delivery fees: | |||||||||||||||||||||||||||||||||||
| Purchases from affiliates | (1,607) | (1,859) | 252 | (3,784) | (3,761) | (23) | |||||||||||||||||||||||||||||
| Unrealized net gains (losses) on hedging activities with affiliates | 1,117 | 323 | 794 | 3,244 | 127 | 3,117 | |||||||||||||||||||||||||||||
| Unrealized net gains (losses) on hedging activities | 5 | 1 | 4 | 2 | (1) | 3 | |||||||||||||||||||||||||||||
| Delivery fees | (595) | (570) | (25) | (1,472) | (1,446) | (26) | |||||||||||||||||||||||||||||
| Other costs (b) | (15) | (14) | (1) | (335) | (52) | (283) | |||||||||||||||||||||||||||||
| Total fuel, purchased power costs and delivery fees | (1,095) | (2,119) | 1,024 | (2,345) | (5,133) | 2,788 | |||||||||||||||||||||||||||||
| Net income | $ | 779 | $ | 109 | $ | 670 | $ | 2,677 | $ | 433 | $ | 2,244 | |||||||||||||||||||||||
|
Three Months Ended
September 30, |
Favorable (Unfavorable)
Change |
Nine Months Ended
September 30, |
Favorable (Unfavorable)
Change |
||||||||||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 65 | $ | (140) | $ | 205 | $ | 376 | $ | 572 | $ | (196) | |||||||||||||||||||||||
| Retail sales volumes (GWh): | |||||||||||||||||||||||||||||||||||
| Retail electricity sales volumes: | |||||||||||||||||||||||||||||||||||
| Sales volumes in ERCOT | 17,732 | 16,573 | 1,159 | 44,215 | 41,547 | 2,668 | |||||||||||||||||||||||||||||
| Sales volumes in Northeast/Midwest | 10,034 | 11,103 | (1,069) | 27,558 | 28,640 | (1,082) | |||||||||||||||||||||||||||||
| Total retail electricity sales volumes | 27,766 | 27,676 | 90 | 71,773 | 70,187 | 1,586 | |||||||||||||||||||||||||||||
| Weather (North Texas average) - percent of normal (c): | |||||||||||||||||||||||||||||||||||
| Cooling degree days | 91.2 | % | 89.0 | % | 86.9 | % | 91.0 | % | |||||||||||||||||||||||||||
| Heating degree days | — | % | — | % | 117.1 | % | 88.0 | % | |||||||||||||||||||||||||||
|
Three Months Ended September 30, 2021
Compared to 2020 |
Nine Months Ended
September 30, 2021 Compared to 2020 |
||||||||||
| Monetization of certain commercial positions | $ | 30 | $ | 145 | |||||||
| Winter Storm Uri, including bill credits | 13 | (551) | |||||||||
| Higher margins | 167 | 246 | |||||||||
| Other driven by higher SG&A | (5) | (36) | |||||||||
| Change in Adjusted EBITDA | $ | 205 | $ | (196) | |||||||
| Favorable impact of higher unrealized net gains on hedging activities | 423 | 2,726 | |||||||||
| Future bill credits and other costs related to Winter Storm Uri | 31 | (354) | |||||||||
| Decrease in depreciation and amortization expenses | 14 | 69 | |||||||||
| Change in transition and merger and other expenses | (3) | (1) | |||||||||
| Change in net income | $ | 670 | $ | 2,244 | |||||||
| Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||
| Texas | East | West | Sunset | ||||||||||||||||||||||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||
| Operating revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
| Electricity sales | $ | 462 | $ | 155 | $ | 411 | $ | 210 | $ | 134 | $ | 78 | $ | 265 | $ | 280 | |||||||||||||||||||||||||||||||
| Capacity revenue from ISO/RTO | — | — | (13) | (25) | 1 | — | 51 | 40 | |||||||||||||||||||||||||||||||||||||||
| Sales to affiliates | 1,078 | 1,307 | 413 | 436 | 1 | 1 | 113 | 116 | |||||||||||||||||||||||||||||||||||||||
| Rolloff of unrealized net gains (losses) representing positions settled in the current period | (17) | 138 | (56) | 41 | 55 | 4 | 69 | (41) | |||||||||||||||||||||||||||||||||||||||
| Unrealized net gains (losses) on hedging activities | (153) | 129 | 225 | 67 | (101) | 1 | (500) | (44) | |||||||||||||||||||||||||||||||||||||||
| Unrealized net (losses) on hedging activities with affiliates | (527) | (188) | (472) | (85) | — | — | (118) | (48) | |||||||||||||||||||||||||||||||||||||||
| Other revenues | — | — | — | — | — | — | (2) | (4) | |||||||||||||||||||||||||||||||||||||||
| Operating revenues | 843 | 1,541 | 508 | 644 | 90 | 84 | (122) | 299 | |||||||||||||||||||||||||||||||||||||||
| Fuel, purchased power costs and delivery fees: | |||||||||||||||||||||||||||||||||||||||||||||||
| Fuel for generation facilities and purchased power costs | (458) | (293) | (536) | (301) | (84) | (41) | (265) | (235) | |||||||||||||||||||||||||||||||||||||||
| Fuel for generation facilities and purchased power costs from affiliates | 1 | 2 | 1 | (4) | — | — | (1) | 1 | |||||||||||||||||||||||||||||||||||||||
| Unrealized gains (losses) from hedging activities | 43 | (1) | 49 | 19 | 7 | 4 | 168 | 11 | |||||||||||||||||||||||||||||||||||||||
| Unrealized net losses on hedging activities with affiliates | — | — | — | (2) | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Ancillary and other costs | (68) | (36) | (10) | (7) | (1) | (1) | (2) | (4) | |||||||||||||||||||||||||||||||||||||||
| Fuel, purchased power costs and delivery fees | (482) | (328) | (496) | (295) | (78) | (38) | (100) | (227) | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 4 | $ | 908 | $ | (233) | $ | 100 | $ | (18) | $ | 29 | $ | (375) | $ | (368) | |||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 858 | $ | 972 | $ | 193 | $ | 245 | $ | 36 | $ | 23 | $ | 36 | $ | 93 | |||||||||||||||||||||||||||||||
| Production volumes (GWh): | |||||||||||||||||||||||||||||||||||||||||||||||
| Natural gas facilities | 9,597 | 10,722 | 14,760 | 16,248 | 1,635 | 1,347 | |||||||||||||||||||||||||||||||||||||||||
| Lignite and coal facilities | 7,969 | 7,226 | 11,454 | 9,510 | |||||||||||||||||||||||||||||||||||||||||||
| Nuclear facilities | 5,254 | 5,270 | |||||||||||||||||||||||||||||||||||||||||||||
| Solar/Battery facilities | 135 | 133 | — | ||||||||||||||||||||||||||||||||||||||||||||
| Capacity factors: | |||||||||||||||||||||||||||||||||||||||||||||||
| CCGT facilities | 52.7 | % | 58.7 | % | 60.7 | % | 66.4 | % | 72.6 | % | 59.7 | % | |||||||||||||||||||||||||||||||||||
| Lignite and coal facilities | 93.7 | % | 85.0 | % | 71.2 | % | 59.2 | % | |||||||||||||||||||||||||||||||||||||||
| Nuclear facilities | 103.5 | % | 103.8 | % | |||||||||||||||||||||||||||||||||||||||||||
| Weather - percent of normal (a): | |||||||||||||||||||||||||||||||||||||||||||||||
| Cooling degree days | 92.4 | % | 96.0 | % | 101.3 | % | 108.0 | % | 94.5 | % | 114.0 | % | 109.6 | % | 102.0 | % | |||||||||||||||||||||||||||||||
| Heating degree days | — | % | — | % | 37.2 | % | 144.0 | % | — | % | — | % | 47.7 | % | 98.0 | % | |||||||||||||||||||||||||||||||
|
Three Months Ended
September 30, |
Three Months Ended
September 30, |
|||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| Market pricing | Average Market On-Peak Power Prices ($MWh) (b): | |||||||||||||||||||||||||
| Average ERCOT North power price ($/MWh) | $ | 38.64 | $ | 24.87 | PJM West Hub | $ | 51.37 | $ | 28.35 | |||||||||||||||||
| AEP Dayton Hub | $ | 50.29 | $ | 28.44 | ||||||||||||||||||||||
| Average NYMEX Henry Hub natural gas price ($/MMBtu) | $ | 4.27 | $ | 1.95 | NYISO Zone C | $ | 43.95 | $ | 23.09 | |||||||||||||||||
| Massachusetts Hub | $ | 52.69 | $ | 27.22 | ||||||||||||||||||||||
| Average natural gas price (a): | Indiana Hub | $ | 51.59 | $ | 29.84 | |||||||||||||||||||||
| TetcoM3 ($/MMBtu) | $ | 3.75 | $ | 1.45 | Northern Illinois Hub | $ | 48.19 | $ | 25.80 | |||||||||||||||||
| Algonquin Citygates ($/MMBtu) | $ | 3.86 | $ | 1.52 | ||||||||||||||||||||||
|
Three Months Ended September 30, 2021 Compared to 2020
|
|||||||||||||||||||||||
| Texas | East | West | Sunset | ||||||||||||||||||||
| Favorable/(unfavorable) change in revenue net of fuel | $ | (144) | $ | (44) | $ | 14 | $ | (49) | |||||||||||||||
| Winter Storm Uri impact | (3) | — | — | — | |||||||||||||||||||
| Favorable/(unfavorable) change in other operating costs | 26 | (6) | (1) | (11) | |||||||||||||||||||
| Favorable change in selling, general and administrative expenses | 5 | 1 | 1 | 6 | |||||||||||||||||||
| Other (a) | 2 | (3) | (1) | (3) | |||||||||||||||||||
| Change in Adjusted EBITDA | $ | (114) | $ | (52) | $ | 13 | $ | (57) | |||||||||||||||
| Favorable/(unfavorable) change in depreciation and amortization | (73) | 17 | (10) | (18) | |||||||||||||||||||
| Change in unrealized net losses on hedging activities | (732) | (294) | (48) | (259) | |||||||||||||||||||
| Impairment of long-lived assets | (2) | — | — | 272 | |||||||||||||||||||
| Generation plant retirement expenses | — | — | — | 39 | |||||||||||||||||||
| Fresh start/purchase accounting impacts | 2 | 6 | — | 13 | |||||||||||||||||||
| Transition and merger expenses | — | (5) | — | — | |||||||||||||||||||
| Winter Storm Uri impact (ERCOT default uplift and legal disputes) | 2 | — | — | — | |||||||||||||||||||
| Other (including interest and COVID-19 related expenses) | 13 | (5) | (2) | 3 | |||||||||||||||||||
| Change in Net income (loss) | $ | (904) | $ | (333) | $ | (47) | $ | (7) | |||||||||||||||
| Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||
| Texas | East | West | Sunset | ||||||||||||||||||||||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||
| Operating revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
| Electricity sales | $ | 1,502 | $ | 598 | $ | 986 | $ | 582 | $ | 302 | $ | 204 | $ | 701 | $ | 641 | |||||||||||||||||||||||||||||||
| Capacity revenue from ISO/RTO | — | — | (14) | (34) | 1 | — | 133 | 124 | |||||||||||||||||||||||||||||||||||||||
| Sales to affiliates | 2,310 | 2,185 | 1,178 | 1,287 | 3 | 3 | 294 | 286 | |||||||||||||||||||||||||||||||||||||||
| Rolloff of unrealized net gains (losses) representing positions settled in the current period | (170) | 74 | (24) | 138 | 44 | (21) | 15 | (173) | |||||||||||||||||||||||||||||||||||||||
| Unrealized net gains (losses) on hedging activities | (31) | 322 | 357 | (10) | (179) | 25 | (752) | 75 | |||||||||||||||||||||||||||||||||||||||
| Unrealized net gains (losses) on hedging activities with affiliates | (2,153) | 66 | (819) | (119) | — | — | (272) | (74) | |||||||||||||||||||||||||||||||||||||||
| Other revenues | — | — | 74 | 1 | — | — | (10) | (16) | |||||||||||||||||||||||||||||||||||||||
| Operating revenues | 1,458 | 3,245 | 1,738 | 1,845 | 171 | 211 | 109 | 863 | |||||||||||||||||||||||||||||||||||||||
| Fuel, purchased power costs and delivery fees: | |||||||||||||||||||||||||||||||||||||||||||||||
| Fuel for generation facilities and purchased power costs | (2,439) | (695) | (1,321) | (888) | (176) | (110) | (644) | (527) | |||||||||||||||||||||||||||||||||||||||
| Fuel for generation facilities and purchased power costs from affiliates | (1) | 5 | — | (8) | — | — | (2) | 2 | |||||||||||||||||||||||||||||||||||||||
| Unrealized gains (losses) from hedging activities | 85 | (13) | 79 | 28 | 15 | (3) | 194 | 15 | |||||||||||||||||||||||||||||||||||||||
| Ancillary and other costs | (1,778) | (102) | (27) | (29) | (3) | (2) | (6) | (5) | |||||||||||||||||||||||||||||||||||||||
| Fuel, purchased power costs and delivery fees | (4,133) | (805) | (1,269) | (897) | (164) | (115) | (458) | (515) | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | (3,651) | $ | 1,484 | $ | (332) | $ | 119 | $ | (62) | $ | 49 | $ | (841) | $ | (469) | |||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | (350) | $ | 1,452 | $ | 573 | $ | 691 | $ | 81 | $ | 59 | $ | 115 | $ | 209 | |||||||||||||||||||||||||||||||
| Production volumes (GWh): | |||||||||||||||||||||||||||||||||||||||||||||||
| Natural gas facilities | 23,142 | 27,111 | 40,781 | 41,682 | 3,998 | 3,755 | |||||||||||||||||||||||||||||||||||||||||
| Lignite and coal facilities | 19,441 | 18,717 | 28,582 | 20,696 | |||||||||||||||||||||||||||||||||||||||||||
| Nuclear facilities | 15,343 | 15,045 | |||||||||||||||||||||||||||||||||||||||||||||
| Solar/Battery facilities | 357 | 341 | 3 | ||||||||||||||||||||||||||||||||||||||||||||
| Capacity factors: | |||||||||||||||||||||||||||||||||||||||||||||||
| CCGT facilities | 43.1 | % | 50.7 | % | 56.7 | % | 57.8 | % | 59.8 | % | 56.1 | % | |||||||||||||||||||||||||||||||||||
| Lignite and coal facilities | 77.1 | % | 74.2 | % | 60.0 | % | 43.4 | % | |||||||||||||||||||||||||||||||||||||||
| Nuclear facilities | 101.8 | % | 99.8 | % | |||||||||||||||||||||||||||||||||||||||||||
| Weather - percent of normal (a): | |||||||||||||||||||||||||||||||||||||||||||||||
| Cooling degree days | 89.8 | % | 98.0 | % | 107.2 | % | 106.0 | % | 95.5 | % | 126.0 | % | 112.1 | % | 103.0 | % | |||||||||||||||||||||||||||||||
| Heating degree days | 122.9 | % | 81.0 | % | 95.3 | % | 93.0 | % | 108.2 | % | 91.0 | % | 94.4 | % | 89.0 | % | |||||||||||||||||||||||||||||||
|
Nine Months Ended
September 30, |
Nine Months Ended
September 30, |
|||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| Market pricing | Average Market On-Peak Power Prices ($MWh) (b): | |||||||||||||||||||||||||
|
Average ERCOT North power price
($/MWh) |
$ | 186.71 | $ | 20.25 | PJM West Hub | $ | 39.95 | $ | 23.91 | |||||||||||||||||
| AEP Dayton Hub | $ | 40.15 | $ | 24.06 | ||||||||||||||||||||||
| Average NYMEX Henry Hub natural gas price ($/MMBtu) | $ | 3.52 | $ | 1.82 | NYISO Zone C | $ | 31.94 | $ | 19.26 | |||||||||||||||||
| Massachusetts Hub | $ | 46.96 | $ | 24.06 | ||||||||||||||||||||||
| Average natural gas price (a): | Indiana Hub | $ | 43.99 | $ | 26.23 | |||||||||||||||||||||
| TetcoM3 ($/MMBtu) | $ | 3.11 | $ | 1.55 | Northern Illinois Hub | $ | 37.77 | $ | 22.12 | |||||||||||||||||
| Algonquin Citygates ($/MMBtu) | $ | 3.93 | $ | 1.75 | ||||||||||||||||||||||
|
Nine Months Ended September 30, 2021 Compared to 2020
|
|||||||||||||||||||||||
| Texas | East | West | Sunset | ||||||||||||||||||||
| Favorable/(unfavorable) change in revenue net of fuel | $ | (362) | $ | (160) | $ | 31 | $ | (88) | |||||||||||||||
| Winter Storm Uri impact | (1,551) | 50 | — | 17 | |||||||||||||||||||
| Favorable/(unfavorable) change in other operating costs | 42 | (9) | (5) | (33) | |||||||||||||||||||
| Change in selling, general and administrative expenses | 68 | 5 | (4) | 17 | |||||||||||||||||||
| Other (a) | 1 | (4) | — | (7) | |||||||||||||||||||
| Change in Adjusted EBITDA | $ | (1,802) | $ | (118) | $ | 22 | $ | (94) | |||||||||||||||
| Favorable/(unfavorable) change in depreciation and amortization | (126) | (13) | (16) | 2 | |||||||||||||||||||
| Change in unrealized net losses on hedging activities | (2,718) | (444) | (121) | (658) | |||||||||||||||||||
| Impairment of long-lived assets | (2) | — | — | 318 | |||||||||||||||||||
| Generation plant retirement expenses | — | — | — | 24 | |||||||||||||||||||
| Fresh start/purchase accounting impacts | (1) | 97 | — | 34 | |||||||||||||||||||
| Transition and merger expenses | 1 | 1 | — | — | |||||||||||||||||||
| Loss on disposal of investment in NELP | — | 29 | — | — | |||||||||||||||||||
| Winter Storm Uri impact (ERCOT default uplift and legal disputes) | (511) | — | — | (1) | |||||||||||||||||||
| Other (including interest and COVID-19 related expenses) | 24 | (3) | 4 | 3 | |||||||||||||||||||
| Change in Net income (loss) | $ | (5,135) | $ | (451) | $ | (111) | $ | (372) | |||||||||||||||
|
Three Months Ended
September 30, |
Favorable (Unfavorable)
Change |
Nine Months Ended
September 30, |
Favorable (Unfavorable)
Change |
||||||||||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||
| Operating revenues | $ | — | $ | 1 | $ | (1) | $ | — | $ | 3 | $ | (3) | |||||||||||||||||||||||
| Operating costs | (1) | (47) | 46 | $ | (19) | $ | (66) | $ | 47 | ||||||||||||||||||||||||||
| Depreciation and amortization | — | (11) | 11 | — | (12) | 12 | |||||||||||||||||||||||||||||
| Selling, general and administrative expenses | (5) | (8) | 3 | (20) | (20) | — | |||||||||||||||||||||||||||||
| Operating loss | (6) | (65) | 59 | (39) | (95) | 56 | |||||||||||||||||||||||||||||
| Other income | 1 | 5 | (4) | 20 | 8 | 12 | |||||||||||||||||||||||||||||
| Other deductions | — | — | — | — | (2) | 2 | |||||||||||||||||||||||||||||
| Interest expense and related charges | (1) | — | (1) | (1) | — | (1) | |||||||||||||||||||||||||||||
| Loss before income taxes | (6) | (60) | 54 | (20) | (89) | 69 | |||||||||||||||||||||||||||||
| Net loss | $ | (6) | $ | (60) | $ | 54 | $ | (20) | $ | (89) | $ | 69 | |||||||||||||||||||||||
| Adjusted EBITDA | $ | (4) | $ | (46) | $ | 42 | $ | (32) | $ | (78) | $ | 46 | |||||||||||||||||||||||
|
Nine Months Ended
September 30, |
|||||||||||
| 2021 | 2020 | ||||||||||
| Commodity contract net liability at beginning of period | $ | (75) | $ | (279) | |||||||
| Settlements/termination of positions (a) | (202) | 74 | |||||||||
| Changes in fair value of positions in the portfolio (b) | (569) | 370 | |||||||||
| Other activity (c) | (116) | 7 | |||||||||
| Commodity contract net asset (liability) at end of period | $ | (962) | $ | 172 | |||||||
|
Maturity dates of unrealized commodity contract net liability at September 30, 2021
|
||||||||||||||||||||||||||||||||
|
Less than
1 year |
1-3 years | 4-5 years |
Excess of
5 years |
Total | ||||||||||||||||||||||||||||
| Prices actively quoted | $ | (554) | $ | (85) | $ | 1 | $ | — | $ | (638) | ||||||||||||||||||||||
| Prices provided by other external sources | (13) | (90) | 5 | (2) | (100) | |||||||||||||||||||||||||||
| Prices based on models | (57) | 2 | (80) | (89) | (224) | |||||||||||||||||||||||||||
| Total | $ | (624) | $ | (173) | $ | (74) | $ | (91) | $ | (962) | ||||||||||||||||||||||
|
Nine Months Ended
September 30, |
|||||||||||
| 2021 | 2020 | ||||||||||
| Capital expenditures, including LTSA prepayments | $ | 437 | $ | 439 | |||||||
| Nuclear fuel purchases | $ | 30 | $ | 69 | |||||||
| Growth and development expenditures | $ | 323 | $ | 330 | |||||||
| Capital expenditures | $ | 790 | $ | 838 | |||||||
| September 30, 2021 | December 31, 2020 | Change | |||||||||||||||
| Cash and cash equivalents | $ | 351 | $ | 406 | $ | (55) | |||||||||||
| Vistra Operations Credit Facilities — Revolving Credit Facility | 1,720 | 1,988 | (268) | ||||||||||||||
| Vistra Operations — Alternate Letter of Credit Facility | — | 5 | (5) | ||||||||||||||
| Total available liquidity (a) | $ | 2,071 | $ | 2,399 | $ | (328) | |||||||||||
|
Nine Months
Ended September 30, 2021 |
Year Ended December 31, 2020 | ||||||||||
| Month-end average VaR | $ | 474 | $ | 234 | |||||||
| Month-end high VaR | $ | 684 | $ | 361 | |||||||
| Month-end low VaR | $ | 280 | $ | 164 | |||||||
|
Exposure
Before Credit Collateral |
Credit
Collateral |
Net
Exposure |
|||||||||||||||||||||||||||||||||||||||
| Investment grade | $ | 379 | $ | 46 | $ | 333 | |||||||||||||||||||||||||||||||||||
| Below investment grade or no rating | 295 | 9 | 286 | ||||||||||||||||||||||||||||||||||||||
| Totals | $ | 674 | $ | 55 | $ | 619 | |||||||||||||||||||||||||||||||||||
| Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of a Publicly Announced Program | ||||||||||||||||||||||||
| July 1 - July 31, 2021 | — | $ | — | — | ||||||||||||||||||||||
| August 1 - August 31, 2021 | — | $ | — | — | ||||||||||||||||||||||
| September 1 - September 30, 2021 | — | $ | — | — | ||||||||||||||||||||||
|
For the quarter ended September 30, 2021
|
— | $ | — | — | ||||||||||||||||||||||
| Exhibits | Previously Filed With File Number* |
As
Exhibit
|
||||||||||||||||||||||||
| (3(i)) | Articles of Incorporation | |||||||||||||||||||||||||
| 3.1 |
0001-38086
Form 8-K (filed May 4, 2020) |
3.1 | — | |||||||||||||||||||||||
| 3.2 |
0001-38086
Form 8-K (filed June 29, 2020) |
3.1 | — | |||||||||||||||||||||||
| 3.3 |
0001-38086
Form 8-K (filed October 15, 2021) |
3.1 | — | |||||||||||||||||||||||
| (3(ii)) | By-laws | |||||||||||||||||||||||||
| 3.3 |
001-38086
Form 10-K (Year ended December 31, 2020) (filed February 23, 2021) |
3.3 | — | |||||||||||||||||||||||
| (4) | Instruments Defining the Rights of Security Holders, Including Indentures | |||||||||||||||||||||||||
| 4.1 |
0001-38086
Form 8-K (filed July 15, 2021) |
4.1 | — | |||||||||||||||||||||||
| 4.2 | ** | — | ||||||||||||||||||||||||
| 4.3 | ** | — | ||||||||||||||||||||||||
| 4.4 | ** | — | ||||||||||||||||||||||||
| 4.5 | ** | — | ||||||||||||||||||||||||
| 4.6 | ** | — | ||||||||||||||||||||||||
| 4.7 | ** | — | ||||||||||||||||||||||||
| Exhibits | Previously Filed With File Number* |
As
Exhibit
|
||||||||||||||||||||||||
| (10) | Material Contracts | |||||||||||||||||||||||||
| 10.1 |
0001-38086
Form 8-K (filed July 15, 2021) |
10.1 | — | |||||||||||||||||||||||
| 10.2 | ** | — | ||||||||||||||||||||||||
| 10.3 | ** | — | ||||||||||||||||||||||||
| 10.4 |
0001-38086
Form 8-K (filed October 15, 2021) |
10.1 | — | |||||||||||||||||||||||
| (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 Quarterly Report on Form 10-Q for the period ended September 30, 2021 formatted in Inline XBRL (Extensible Business Reporting Language) includes: (i) the Condensed Consolidated Statements of Operations, (ii) the Condensed Consolidated Statements of Comprehensive Income (Loss), (iii) the Condensed Consolidated Statements of Cash Flows, (iv) the Condensed Consolidated Balance Sheets and (v) the Notes to the Condensed 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 | |||||||||||||||||||||||
| Exhibits | Previously Filed With File Number* |
As
Exhibit
|
||||||||||||||||||||||||
| 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. | ||||||||||||||
| By: | /s/ CHRISTY DOBRY | |||||||||||||
| Name: | Christy Dobry | |||||||||||||
| Title: | Senior Vice President and Controller | |||||||||||||
| (Principal Accounting Officer) | ||||||||||||||
|
VIRIDIAN INTERNATIONAL MANAGEMENT LLC,
|
||
| as the Guaranteeing Subsidiary | ||
| AMBIT CALIFORNIA, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
| AMBIT ENERGY HOLDINGS, LLC | LUMINANT GAS IMPORTS LLC | ||||
| AMBIT HOLDINGS, LLC | LUMINANT GENERATION COMPANY LLC | ||||
| AMBIT ILLINOIS, LLC | LUMINANT MINING COMPANY LLC | ||||
| AMBIT MARKETING, LLC | LUMINANT POWER GENERATION INC. | ||||
| AMBIT MIDWEST, LLC | LUMINANT POWER LLC | ||||
| AMBIT NEW YORK, LLC | MASSPOWER, LLC | ||||
| AMBIT NORTHEAST, LLC | MIAMI FORT POWER COMPANY LLC | ||||
| AMBIT TEXAS, LLC | MIDLOTHIAN ENERGY, LLC | ||||
| BELLINGHAM POWER GENERATION LLC | MILFORD POWER COMPANY, LLC | ||||
| BIG BROWN POWER COMPANY LLC | MORRO BAY ENERGY STORAGE 1, LLC | ||||
| BIG SKY GAS, LLC | MORRO BAY ENERGY STORAGE 2, LLC | ||||
| BIG SKY GAS HOLDINGS, LLC | MORRO BAY POWER COMPANY LLC | ||||
| BLACKSTONE POWER GENERATION LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
| BLUENET HOLDINGS, LLC | MOSS LANDING ENERGY STORAGE 2, LLC | ||||
| BRIGHTSIDE SOLAR, LLC | MOSS LANDING ENERGY STORAGE 3, LLC | ||||
| CALUMET ENERGY TEAM, LLC | MOSS LANDING ENERGY STORAGE 4, LLC | ||||
| CASCO BAY ENERGY COMPANY, LLC | MOSS LANDING POWER COMPANY LLC | ||||
| CINCINNATI BELL ENERGY LLC |
NCA RESOURCES DEVELOPMENT COMPANY LLC
|
||||
| COFFEEN AND WESTERN RAILROAD COMPANY | NEPCO SERVICES COMPANY | ||||
| COLETO CREEK POWER, LLC | NORTHEASTERN POWER COMPANY | ||||
| COLETO CREEK ENERGY STORAGE LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
| COMANCHE PEAK POWER COMPANY LLC | OAK HILL SOLAR LLC | ||||
| CORE SOLAR SPV I, LLC | OAKLAND ENERGY STORAGE 1, LLC | ||||
| CRIUS ENERGY, LLC | OAKLAND ENERGY STORAGE 2, LLC | ||||
| CRIUS ENERGY CORPORATION | OAKLAND ENERGY STORAGE 3, LLC | ||||
| CRIUS SOLAR FULFILLMENT, LLC |
OAKLAND POWER COMPANY LLC
|
||||
| DALLAS POWER & LIGHT COMPANY, INC. | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
| DICKS CREEK POWER COMPANY 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 CONESVILLE, LLC |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
| DYNEGY ENERGY SERVICES (EAST), LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
| DYNEGY ENERGY SERVICES, LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
| DYNEGY KILLEN, LLC | RENEWABLE ENERGY VENTURES, LLC | ||||
| DYNEGY MARKETING AND TRADE, LLC | RICHLAND-STRYKER GENERATION LLC | ||||
| DYNEGY MIDWEST GENERATION, LLC | SANDOW POWER COMPANY LLC | ||||
| DYNEGY OPERATING COMPANY | SAYREVILLE POWER GP INC. | ||||
| DYNEGY POWER MARKETING, LLC | SAYREVILLE POWER HOLDINGS LLC | ||||
| DYNEGY RESOURCES GENERATING HOLDCO, LLC | SAYREVILLE POWER LP | ||||
| DYNEGY SOUTH BAY, LLC | SITHE ENERGIES, INC. | ||||
| DYNEGY STUART, LLC | SITHE/INDEPENDENCE LLC | ||||
| EMERALD GROVE SOLAR, LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. | ||||
| ENERGY REWARDS, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
| ENNIS POWER COMPANY, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
| EQUIPOWER RESOURCES CORP. | TEXAS POWER & LIGHT COMPANY, INC. | ||||
| EVERYDAY ENERGY NJ, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
| EVERYDAY ENERGY, LLC | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
| FAYETTE POWER COMPANY LLC | TRIEAGLE 1, LLC | ||||
| FOREST GROVE SOLAR LLC | TRIEAGLE 2, LLC | ||||
| GENERATION SVC COMPANY | TRIEAGLE ENERGY LP | ||||
| HALLMARK SOLAR, LLC | TRINIDAD POWER STORAGE LLC | ||||
| HANGING ROCK POWER COMPANY LLC | TXU ELECTRIC COMPANY, INC. | ||||
| HAYS ENERGY, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
| HOPEWELL POWER GENERATION, LLC | TXU RETAIL SERVICES COMPANY | ||||
| ILLINOIS POWER GENERATING COMPANY | UPTON COUNTY SOLAR 2, LLC | ||||
| ILLINOIS POWER MARKETING COMPANY | VALUE BASED BRANDS LLC | ||||
| ILLINOIS POWER RESOURCES GENERATING, LLC | VIRIDIAN ENERGY, LLC | ||||
| ILLINOIS POWER RESOURCES, LLC | VIRIDIAN ENERGY PA LLC | ||||
| ILLINOVA CORPORATION | VIRIDIAN ENERGY NY, LLC | ||||
| IPH, LLC | VIRIDIAN NETWORK, LLC | ||||
| KINCAID GENERATION, L.L.C. | VISTRA ASSET COMPANY LLC | ||||
| KENDALL POWER COMPANY LLC | VISTRA CORPORATE SERVICES COMPANY | ||||
| LA FRONTERA HOLDINGS, LLC | VISTRA EP PROPERTIES COMPANY | ||||
| LAKE ROAD GENERATING COMPANY, LLC | VISTRA FINANCE CORP. | ||||
| LIBERTY ELECTRIC POWER, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
| LONE STAR ENERGY COMPANY, INC. | VISTRA PREFERRED INC. | ||||
| LONE STAR PIPELINE COMPANY, INC. | VOLT ASSET COMPANY, INC. | ||||
| LUMINANT ADMINISTRATIVE SERVICES COMPANY | WASHINGTON POWER GENERATION LLC | ||||
| LUMINANT COAL GENERATION LLC | WHARTON COUNTY GENERATION, LLC | ||||
| LUMINANT COMMERCIAL ASSET MANAGEMENT LLC | WISE COUNTY POWER COMPANY, LLC | ||||
| LUMINANT ENERGY COMPANY LLC | WISE-FUELS PIPELINE, INC. | ||||
| LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ZIMMER POWER COMPANY LLC | ||||
| Name | Jurisdiction | ||||
| Viridian International Management LLC | Delaware | ||||
|
VIRIDIAN INTERNATIONAL MANAGEMENT LLC,
|
||
| as the Guaranteeing Subsidiary | ||
| AMBIT CALIFORNIA, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
| AMBIT ENERGY HOLDINGS, LLC | LUMINANT GAS IMPORTS LLC | ||||
| AMBIT HOLDINGS, LLC | LUMINANT GENERATION COMPANY LLC | ||||
| AMBIT ILLINOIS, LLC | LUMINANT MINING COMPANY LLC | ||||
| AMBIT MARKETING, LLC | LUMINANT POWER GENERATION INC. | ||||
| AMBIT MIDWEST, LLC | LUMINANT POWER LLC | ||||
| AMBIT NEW YORK, LLC | MASSPOWER, LLC | ||||
| AMBIT NORTHEAST, LLC | MIAMI FORT POWER COMPANY LLC | ||||
| AMBIT TEXAS, LLC | MIDLOTHIAN ENERGY, LLC | ||||
| BELLINGHAM POWER GENERATION LLC | MILFORD POWER COMPANY, LLC | ||||
| BIG BROWN POWER COMPANY LLC | MORRO BAY ENERGY STORAGE 1, LLC | ||||
| BIG SKY GAS, LLC | MORRO BAY ENERGY STORAGE 2, LLC | ||||
| BIG SKY GAS HOLDINGS, LLC | MORRO BAY POWER COMPANY LLC | ||||
| BLACKSTONE POWER GENERATION LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
| BLUENET HOLDINGS, LLC | MOSS LANDING ENERGY STORAGE 2, LLC | ||||
| BRIGHTSIDE SOLAR, LLC | MOSS LANDING ENERGY STORAGE 3, LLC | ||||
| CALUMET ENERGY TEAM, LLC | MOSS LANDING ENERGY STORAGE 4, LLC | ||||
| CASCO BAY ENERGY COMPANY, LLC | MOSS LANDING POWER COMPANY LLC | ||||
| CINCINNATI BELL ENERGY LLC |
NCA RESOURCES DEVELOPMENT COMPANY LLC
|
||||
| COFFEEN AND WESTERN RAILROAD COMPANY | NEPCO SERVICES COMPANY | ||||
| COLETO CREEK POWER, LLC | NORTHEASTERN POWER COMPANY | ||||
| COLETO CREEK ENERGY STORAGE LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
| COMANCHE PEAK POWER COMPANY LLC | OAK HILL SOLAR LLC | ||||
| CORE SOLAR SPV I, LLC | OAKLAND ENERGY STORAGE 1, LLC | ||||
| CRIUS ENERGY, LLC | OAKLAND ENERGY STORAGE 2, LLC | ||||
| CRIUS ENERGY CORPORATION | OAKLAND ENERGY STORAGE 3, LLC | ||||
| CRIUS SOLAR FULFILLMENT, LLC |
OAKLAND POWER COMPANY LLC
|
||||
| DALLAS POWER & LIGHT COMPANY, INC. | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
| DICKS CREEK POWER COMPANY 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 CONESVILLE, LLC |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
| DYNEGY ENERGY SERVICES (EAST), LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
| DYNEGY ENERGY SERVICES, LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
| DYNEGY KILLEN, LLC | RENEWABLE ENERGY VENTURES, LLC | ||||
| DYNEGY MARKETING AND TRADE, LLC | RICHLAND-STRYKER GENERATION LLC | ||||
| DYNEGY MIDWEST GENERATION, LLC | SANDOW POWER COMPANY LLC | ||||
| DYNEGY OPERATING COMPANY | SAYREVILLE POWER GP INC. | ||||
| DYNEGY POWER MARKETING, LLC | SAYREVILLE POWER HOLDINGS LLC | ||||
| DYNEGY RESOURCES GENERATING HOLDCO, LLC | SAYREVILLE POWER LP | ||||
| DYNEGY SOUTH BAY, LLC | SITHE ENERGIES, INC. | ||||
| DYNEGY STUART, LLC | SITHE/INDEPENDENCE LLC | ||||
| EMERALD GROVE SOLAR, LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. | ||||
| ENERGY REWARDS, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
| ENNIS POWER COMPANY, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
| EQUIPOWER RESOURCES CORP. | TEXAS POWER & LIGHT COMPANY, INC. | ||||
| EVERYDAY ENERGY NJ, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
| EVERYDAY ENERGY, LLC | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
| FAYETTE POWER COMPANY LLC | TRIEAGLE 1, LLC | ||||
| FOREST GROVE SOLAR LLC | TRIEAGLE 2, LLC | ||||
| GENERATION SVC COMPANY | TRIEAGLE ENERGY LP | ||||
| HALLMARK SOLAR, LLC | TRINIDAD POWER STORAGE LLC | ||||
| HANGING ROCK POWER COMPANY LLC | TXU ELECTRIC COMPANY, INC. | ||||
| HAYS ENERGY, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
| HOPEWELL POWER GENERATION, LLC | TXU RETAIL SERVICES COMPANY | ||||
| ILLINOIS POWER GENERATING COMPANY | UPTON COUNTY SOLAR 2, LLC | ||||
| ILLINOIS POWER MARKETING COMPANY | VALUE BASED BRANDS LLC | ||||
| ILLINOIS POWER RESOURCES GENERATING, LLC | VIRIDIAN ENERGY, LLC | ||||
| ILLINOIS POWER RESOURCES, LLC | VIRIDIAN ENERGY PA LLC | ||||
| ILLINOVA CORPORATION | VIRIDIAN ENERGY NY, LLC | ||||
| IPH, LLC | VIRIDIAN NETWORK, LLC | ||||
| KINCAID GENERATION, L.L.C. | VISTRA ASSET COMPANY LLC | ||||
| KENDALL POWER COMPANY LLC | VISTRA CORPORATE SERVICES COMPANY | ||||
| LA FRONTERA HOLDINGS, LLC | VISTRA EP PROPERTIES COMPANY | ||||
| LAKE ROAD GENERATING COMPANY, LLC | VISTRA FINANCE CORP. | ||||
| LIBERTY ELECTRIC POWER, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
| LONE STAR ENERGY COMPANY, INC. | VISTRA PREFERRED INC. | ||||
| LONE STAR PIPELINE COMPANY, INC. | VOLT ASSET COMPANY, INC. | ||||
| LUMINANT ADMINISTRATIVE SERVICES COMPANY | WASHINGTON POWER GENERATION LLC | ||||
| LUMINANT COAL GENERATION LLC | WHARTON COUNTY GENERATION, LLC | ||||
| LUMINANT COMMERCIAL ASSET MANAGEMENT LLC | WISE COUNTY POWER COMPANY, LLC | ||||
| LUMINANT ENERGY COMPANY LLC | WISE-FUELS PIPELINE, INC. | ||||
| LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ZIMMER POWER COMPANY LLC | ||||
| Name | Jurisdiction | ||||
| Viridian International Management LLC | Delaware | ||||
|
VIRIDIAN INTERNATIONAL MANAGEMENT LLC,
|
||
| as the Guaranteeing Subsidiary | ||
| AMBIT CALIFORNIA, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
| AMBIT ENERGY HOLDINGS, LLC | LUMINANT GAS IMPORTS LLC | ||||
| AMBIT HOLDINGS, LLC | LUMINANT GENERATION COMPANY LLC | ||||
| AMBIT ILLINOIS, LLC | LUMINANT MINING COMPANY LLC | ||||
| AMBIT MARKETING, LLC | LUMINANT POWER GENERATION INC. | ||||
| AMBIT MIDWEST, LLC | LUMINANT POWER LLC | ||||
| AMBIT NEW YORK, LLC | MASSPOWER, LLC | ||||
| AMBIT NORTHEAST, LLC | MIAMI FORT POWER COMPANY LLC | ||||
| AMBIT TEXAS, LLC | MIDLOTHIAN ENERGY, LLC | ||||
| BELLINGHAM POWER GENERATION LLC | MILFORD POWER COMPANY, LLC | ||||
| BIG BROWN POWER COMPANY LLC | MORRO BAY ENERGY STORAGE 1, LLC | ||||
| BIG SKY GAS, LLC | MORRO BAY ENERGY STORAGE 2, LLC | ||||
| BIG SKY GAS HOLDINGS, LLC | MORRO BAY POWER COMPANY LLC | ||||
| BLACKSTONE POWER GENERATION LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
| BLUENET HOLDINGS, LLC | MOSS LANDING ENERGY STORAGE 2, LLC | ||||
| BRIGHTSIDE SOLAR, LLC | MOSS LANDING ENERGY STORAGE 3, LLC | ||||
| CALUMET ENERGY TEAM, LLC | MOSS LANDING ENERGY STORAGE 4, LLC | ||||
| CASCO BAY ENERGY COMPANY, LLC | MOSS LANDING POWER COMPANY LLC | ||||
| CINCINNATI BELL ENERGY LLC |
NCA RESOURCES DEVELOPMENT COMPANY LLC
|
||||
| COFFEEN AND WESTERN RAILROAD COMPANY | NEPCO SERVICES COMPANY | ||||
| COLETO CREEK POWER, LLC | NORTHEASTERN POWER COMPANY | ||||
| COLETO CREEK ENERGY STORAGE LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
| COMANCHE PEAK POWER COMPANY LLC | OAK HILL SOLAR LLC | ||||
| CORE SOLAR SPV I, LLC | OAKLAND ENERGY STORAGE 1, LLC | ||||
| CRIUS ENERGY, LLC | OAKLAND ENERGY STORAGE 2, LLC | ||||
| CRIUS ENERGY CORPORATION | OAKLAND ENERGY STORAGE 3, LLC | ||||
| CRIUS SOLAR FULFILLMENT, LLC |
OAKLAND POWER COMPANY LLC
|
||||
| DALLAS POWER & LIGHT COMPANY, INC. | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
| DICKS CREEK POWER COMPANY 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 CONESVILLE, LLC |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
| DYNEGY ENERGY SERVICES (EAST), LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
| DYNEGY ENERGY SERVICES, LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
| DYNEGY KILLEN, LLC | RENEWABLE ENERGY VENTURES, LLC | ||||
| DYNEGY MARKETING AND TRADE, LLC | RICHLAND-STRYKER GENERATION LLC | ||||
| DYNEGY MIDWEST GENERATION, LLC | SANDOW POWER COMPANY LLC | ||||
| DYNEGY OPERATING COMPANY | SAYREVILLE POWER GP INC. | ||||
| DYNEGY POWER MARKETING, LLC | SAYREVILLE POWER HOLDINGS LLC | ||||
| DYNEGY RESOURCES GENERATING HOLDCO, LLC | SAYREVILLE POWER LP | ||||
| DYNEGY SOUTH BAY, LLC | SITHE ENERGIES, INC. | ||||
| DYNEGY STUART, LLC | SITHE/INDEPENDENCE LLC | ||||
| EMERALD GROVE SOLAR, LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. | ||||
| ENERGY REWARDS, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
| ENNIS POWER COMPANY, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
| EQUIPOWER RESOURCES CORP. | TEXAS POWER & LIGHT COMPANY, INC. | ||||
| EVERYDAY ENERGY NJ, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
| EVERYDAY ENERGY, LLC | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
| FAYETTE POWER COMPANY LLC | TRIEAGLE 1, LLC | ||||
| FOREST GROVE SOLAR LLC | TRIEAGLE 2, LLC | ||||
| GENERATION SVC COMPANY | TRIEAGLE ENERGY LP | ||||
| HALLMARK SOLAR, LLC | TRINIDAD POWER STORAGE LLC | ||||
| HANGING ROCK POWER COMPANY LLC | TXU ELECTRIC COMPANY, INC. | ||||
| HAYS ENERGY, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
| HOPEWELL POWER GENERATION, LLC | TXU RETAIL SERVICES COMPANY | ||||
| ILLINOIS POWER GENERATING COMPANY | UPTON COUNTY SOLAR 2, LLC | ||||
| ILLINOIS POWER MARKETING COMPANY | VALUE BASED BRANDS LLC | ||||
| ILLINOIS POWER RESOURCES GENERATING, LLC | VIRIDIAN ENERGY, LLC | ||||
| ILLINOIS POWER RESOURCES, LLC | VIRIDIAN ENERGY PA LLC | ||||
| ILLINOVA CORPORATION | VIRIDIAN ENERGY NY, LLC | ||||
| IPH, LLC | VIRIDIAN NETWORK, LLC | ||||
| KINCAID GENERATION, L.L.C. | VISTRA ASSET COMPANY LLC | ||||
| KENDALL POWER COMPANY LLC | VISTRA CORPORATE SERVICES COMPANY | ||||
| LA FRONTERA HOLDINGS, LLC | VISTRA EP PROPERTIES COMPANY | ||||
| LAKE ROAD GENERATING COMPANY, LLC | VISTRA FINANCE CORP. | ||||
| LIBERTY ELECTRIC POWER, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
| LONE STAR ENERGY COMPANY, INC. | VISTRA PREFERRED INC. | ||||
| LONE STAR PIPELINE COMPANY, INC. | VOLT ASSET COMPANY, INC. | ||||
| LUMINANT ADMINISTRATIVE SERVICES COMPANY | WASHINGTON POWER GENERATION LLC | ||||
| LUMINANT COAL GENERATION LLC | WHARTON COUNTY GENERATION, LLC | ||||
| LUMINANT COMMERCIAL ASSET MANAGEMENT LLC | WISE COUNTY POWER COMPANY, LLC | ||||
| LUMINANT ENERGY COMPANY LLC | WISE-FUELS PIPELINE, INC. | ||||
| LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ZIMMER POWER COMPANY LLC | ||||
| Name | Jurisdiction | ||||
| Viridian International Management LLC | Delaware | ||||
|
VIRIDIAN INTERNATIONAL MANAGEMENT LLC,
|
||
| as the Guaranteeing Subsidiary | ||
| AMBIT CALIFORNIA, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
| AMBIT ENERGY HOLDINGS, LLC | LUMINANT GAS IMPORTS LLC | ||||
| AMBIT HOLDINGS, LLC | LUMINANT GENERATION COMPANY LLC | ||||
| AMBIT ILLINOIS, LLC | LUMINANT MINING COMPANY LLC | ||||
| AMBIT MARKETING, LLC | LUMINANT POWER GENERATION INC. | ||||
| AMBIT MIDWEST, LLC | LUMINANT POWER LLC | ||||
| AMBIT NEW YORK, LLC | MASSPOWER, LLC | ||||
| AMBIT NORTHEAST, LLC | MIAMI FORT POWER COMPANY LLC | ||||
| AMBIT TEXAS, LLC | MIDLOTHIAN ENERGY, LLC | ||||
| BELLINGHAM POWER GENERATION LLC | MILFORD POWER COMPANY, LLC | ||||
| BIG BROWN POWER COMPANY LLC | MORRO BAY ENERGY STORAGE 1, LLC | ||||
| BIG SKY GAS, LLC | MORRO BAY ENERGY STORAGE 2, LLC | ||||
| BIG SKY GAS HOLDINGS, LLC | MORRO BAY POWER COMPANY LLC | ||||
| BLACKSTONE POWER GENERATION LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
| BLUENET HOLDINGS, LLC | MOSS LANDING ENERGY STORAGE 2, LLC | ||||
| BRIGHTSIDE SOLAR, LLC | MOSS LANDING ENERGY STORAGE 3, LLC | ||||
| CALUMET ENERGY TEAM, LLC | MOSS LANDING ENERGY STORAGE 4, LLC | ||||
| CASCO BAY ENERGY COMPANY, LLC | MOSS LANDING POWER COMPANY LLC | ||||
| CINCINNATI BELL ENERGY LLC |
NCA RESOURCES DEVELOPMENT COMPANY LLC
|
||||
| COFFEEN AND WESTERN RAILROAD COMPANY | NEPCO SERVICES COMPANY | ||||
| COLETO CREEK POWER, LLC | NORTHEASTERN POWER COMPANY | ||||
| COLETO CREEK ENERGY STORAGE LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
| COMANCHE PEAK POWER COMPANY LLC | OAK HILL SOLAR LLC | ||||
| CORE SOLAR SPV I, LLC | OAKLAND ENERGY STORAGE 1, LLC | ||||
| CRIUS ENERGY, LLC | OAKLAND ENERGY STORAGE 2, LLC | ||||
| CRIUS ENERGY CORPORATION | OAKLAND ENERGY STORAGE 3, LLC | ||||
| CRIUS SOLAR FULFILLMENT, LLC |
OAKLAND POWER COMPANY LLC
|
||||
| DALLAS POWER & LIGHT COMPANY, INC. | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
| DICKS CREEK POWER COMPANY 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 CONESVILLE, LLC |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
| DYNEGY ENERGY SERVICES (EAST), LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
| DYNEGY ENERGY SERVICES, LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
| DYNEGY KILLEN, LLC | RENEWABLE ENERGY VENTURES, LLC | ||||
| DYNEGY MARKETING AND TRADE, LLC | RICHLAND-STRYKER GENERATION LLC | ||||
| DYNEGY MIDWEST GENERATION, LLC | SANDOW POWER COMPANY LLC | ||||
| DYNEGY OPERATING COMPANY | SAYREVILLE POWER GP INC. | ||||
| DYNEGY POWER MARKETING, LLC | SAYREVILLE POWER HOLDINGS LLC | ||||
| DYNEGY RESOURCES GENERATING HOLDCO, LLC | SAYREVILLE POWER LP | ||||
| DYNEGY SOUTH BAY, LLC | SITHE ENERGIES, INC. | ||||
| DYNEGY STUART, LLC | SITHE/INDEPENDENCE LLC | ||||
| EMERALD GROVE SOLAR, LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. | ||||
| ENERGY REWARDS, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
| ENNIS POWER COMPANY, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
| EQUIPOWER RESOURCES CORP. | TEXAS POWER & LIGHT COMPANY, INC. | ||||
| EVERYDAY ENERGY NJ, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
| EVERYDAY ENERGY, LLC | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
| FAYETTE POWER COMPANY LLC | TRIEAGLE 1, LLC | ||||
| FOREST GROVE SOLAR LLC | TRIEAGLE 2, LLC | ||||
| GENERATION SVC COMPANY | TRIEAGLE ENERGY LP | ||||
| HALLMARK SOLAR, LLC | TRINIDAD POWER STORAGE LLC | ||||
| HANGING ROCK POWER COMPANY LLC | TXU ELECTRIC COMPANY, INC. | ||||
| HAYS ENERGY, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
| HOPEWELL POWER GENERATION, LLC | TXU RETAIL SERVICES COMPANY | ||||
| ILLINOIS POWER GENERATING COMPANY | UPTON COUNTY SOLAR 2, LLC | ||||
| ILLINOIS POWER MARKETING COMPANY | VALUE BASED BRANDS LLC | ||||
| ILLINOIS POWER RESOURCES GENERATING, LLC | VIRIDIAN ENERGY, LLC | ||||
| ILLINOIS POWER RESOURCES, LLC | VIRIDIAN ENERGY PA LLC | ||||
| ILLINOVA CORPORATION | VIRIDIAN ENERGY NY, LLC | ||||
| IPH, LLC | VIRIDIAN NETWORK, LLC | ||||
| KINCAID GENERATION, L.L.C. | VISTRA ASSET COMPANY LLC | ||||
| KENDALL POWER COMPANY LLC | VISTRA CORPORATE SERVICES COMPANY | ||||
| LA FRONTERA HOLDINGS, LLC | VISTRA EP PROPERTIES COMPANY | ||||
| LAKE ROAD GENERATING COMPANY, LLC | VISTRA FINANCE CORP. | ||||
| LIBERTY ELECTRIC POWER, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
| LONE STAR ENERGY COMPANY, INC. | VISTRA PREFERRED INC. | ||||
| LONE STAR PIPELINE COMPANY, INC. | VOLT ASSET COMPANY, INC. | ||||
| LUMINANT ADMINISTRATIVE SERVICES COMPANY | WASHINGTON POWER GENERATION LLC | ||||
| LUMINANT COAL GENERATION LLC | WHARTON COUNTY GENERATION, LLC | ||||
| LUMINANT COMMERCIAL ASSET MANAGEMENT LLC | WISE COUNTY POWER COMPANY, LLC | ||||
| LUMINANT ENERGY COMPANY LLC | WISE-FUELS PIPELINE, INC. | ||||
| LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ZIMMER POWER COMPANY LLC | ||||
| Name | Jurisdiction | ||||
| Viridian International Management LLC | Delaware | ||||
|
VIRIDIAN INTERNATIONAL MANAGEMENT LLC,
|
||
| as the Guaranteeing Subsidiary | ||
| AMBIT CALIFORNIA, LLC | LUMINANT ET SERVICES COMPANY LLC | ||||
| AMBIT ENERGY HOLDINGS, LLC | LUMINANT GAS IMPORTS LLC | ||||
| AMBIT HOLDINGS, LLC | LUMINANT GENERATION COMPANY LLC | ||||
| AMBIT ILLINOIS, LLC | LUMINANT MINING COMPANY LLC | ||||
| AMBIT MARKETING, LLC | LUMINANT POWER GENERATION INC. | ||||
| AMBIT MIDWEST, LLC | LUMINANT POWER LLC | ||||
| AMBIT NEW YORK, LLC | MASSPOWER, LLC | ||||
| AMBIT NORTHEAST, LLC | MIAMI FORT POWER COMPANY LLC | ||||
| AMBIT TEXAS, LLC | MIDLOTHIAN ENERGY, LLC | ||||
| BELLINGHAM POWER GENERATION LLC | MILFORD POWER COMPANY, LLC | ||||
| BIG BROWN POWER COMPANY LLC | MORRO BAY ENERGY STORAGE 1, LLC | ||||
| BIG SKY GAS, LLC | MORRO BAY ENERGY STORAGE 2, LLC | ||||
| BIG SKY GAS HOLDINGS, LLC | MORRO BAY POWER COMPANY LLC | ||||
| BLACKSTONE POWER GENERATION LLC | MOSS LANDING ENERGY STORAGE 1, LLC | ||||
| BLUENET HOLDINGS, LLC | MOSS LANDING ENERGY STORAGE 2, LLC | ||||
| BRIGHTSIDE SOLAR, LLC | MOSS LANDING ENERGY STORAGE 3, LLC | ||||
| CALUMET ENERGY TEAM, LLC | MOSS LANDING ENERGY STORAGE 4, LLC | ||||
| CASCO BAY ENERGY COMPANY, LLC | MOSS LANDING POWER COMPANY LLC | ||||
| CINCINNATI BELL ENERGY LLC |
NCA RESOURCES DEVELOPMENT COMPANY LLC
|
||||
| COFFEEN AND WESTERN RAILROAD COMPANY | NEPCO SERVICES COMPANY | ||||
| COLETO CREEK POWER, LLC | NORTHEASTERN POWER COMPANY | ||||
| COLETO CREEK ENERGY STORAGE LLC | OAK GROVE MANAGEMENT COMPANY LLC | ||||
| COMANCHE PEAK POWER COMPANY LLC | OAK HILL SOLAR LLC | ||||
| CORE SOLAR SPV I, LLC | OAKLAND ENERGY STORAGE 1, LLC | ||||
| CRIUS ENERGY, LLC | OAKLAND ENERGY STORAGE 2, LLC | ||||
| CRIUS ENERGY CORPORATION | OAKLAND ENERGY STORAGE 3, LLC | ||||
| CRIUS SOLAR FULFILLMENT, LLC |
OAKLAND POWER COMPANY LLC
|
||||
| DALLAS POWER & LIGHT COMPANY, INC. | ONTELAUNEE POWER OPERATING COMPANY, LLC | ||||
| DICKS CREEK POWER COMPANY 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 CONESVILLE, LLC |
PUBLIC POWER, LLC (a Connecticut limited liability company)
|
||||
| DYNEGY ENERGY SERVICES (EAST), LLC |
PUBLIC POWER, LLC (a Pennsylvania limited liability company)
|
||||
| DYNEGY ENERGY SERVICES, LLC | REGIONAL ENERGY HOLDINGS, INC. | ||||
| DYNEGY KILLEN, LLC | RENEWABLE ENERGY VENTURES, LLC | ||||
| DYNEGY MARKETING AND TRADE, LLC | RICHLAND-STRYKER GENERATION LLC | ||||
| DYNEGY MIDWEST GENERATION, LLC | SANDOW POWER COMPANY LLC | ||||
| DYNEGY OPERATING COMPANY | SAYREVILLE POWER GP INC. | ||||
| DYNEGY POWER MARKETING, LLC | SAYREVILLE POWER HOLDINGS LLC | ||||
| DYNEGY RESOURCES GENERATING HOLDCO, LLC | SAYREVILLE POWER LP | ||||
| DYNEGY SOUTH BAY, LLC | SITHE ENERGIES, INC. | ||||
| DYNEGY STUART, LLC | SITHE/INDEPENDENCE LLC | ||||
| EMERALD GROVE SOLAR, LLC | SOUTHWESTERN ELECTRIC SERVICE COMPANY, INC. | ||||
| ENERGY REWARDS, LLC | TEXAS ELECTRIC SERVICE COMPANY, INC. | ||||
| ENNIS POWER COMPANY, LLC | TEXAS ENERGY INDUSTRIES COMPANY, INC. | ||||
| EQUIPOWER RESOURCES CORP. | TEXAS POWER & LIGHT COMPANY, INC. | ||||
| EVERYDAY ENERGY NJ, LLC | TEXAS UTILITIES COMPANY, INC. | ||||
| EVERYDAY ENERGY, LLC | TEXAS UTILITIES ELECTRIC COMPANY, INC. | ||||
| FAYETTE POWER COMPANY LLC | TRIEAGLE 1, LLC | ||||
| FOREST GROVE SOLAR LLC | TRIEAGLE 2, LLC | ||||
| GENERATION SVC COMPANY | TRIEAGLE ENERGY LP | ||||
| HALLMARK SOLAR, LLC | TRINIDAD POWER STORAGE LLC | ||||
| HANGING ROCK POWER COMPANY LLC | TXU ELECTRIC COMPANY, INC. | ||||
| HAYS ENERGY, LLC | TXU ENERGY RETAIL COMPANY LLC | ||||
| HOPEWELL POWER GENERATION, LLC | TXU RETAIL SERVICES COMPANY | ||||
| ILLINOIS POWER GENERATING COMPANY | UPTON COUNTY SOLAR 2, LLC | ||||
| ILLINOIS POWER MARKETING COMPANY | VALUE BASED BRANDS LLC | ||||
| ILLINOIS POWER RESOURCES GENERATING, LLC | VIRIDIAN ENERGY, LLC | ||||
| ILLINOIS POWER RESOURCES, LLC | VIRIDIAN ENERGY PA LLC | ||||
| ILLINOVA CORPORATION | VIRIDIAN ENERGY NY, LLC | ||||
| IPH, LLC | VIRIDIAN NETWORK, LLC | ||||
| KINCAID GENERATION, L.L.C. | VISTRA ASSET COMPANY LLC | ||||
| KENDALL POWER COMPANY LLC | VISTRA CORPORATE SERVICES COMPANY | ||||
| LA FRONTERA HOLDINGS, LLC | VISTRA EP PROPERTIES COMPANY | ||||
| LAKE ROAD GENERATING COMPANY, LLC | VISTRA FINANCE CORP. | ||||
| LIBERTY ELECTRIC POWER, LLC | VISTRA INSURANCE SOLUTIONS LLC | ||||
| LONE STAR ENERGY COMPANY, INC. | VISTRA PREFERRED INC. | ||||
| LONE STAR PIPELINE COMPANY, INC. | VOLT ASSET COMPANY, INC. | ||||
| LUMINANT ADMINISTRATIVE SERVICES COMPANY | WASHINGTON POWER GENERATION LLC | ||||
| LUMINANT COAL GENERATION LLC | WHARTON COUNTY GENERATION, LLC | ||||
| LUMINANT COMMERCIAL ASSET MANAGEMENT LLC | WISE COUNTY POWER COMPANY, LLC | ||||
| LUMINANT ENERGY COMPANY LLC | WISE-FUELS PIPELINE, INC. | ||||
| LUMINANT ENERGY TRADING CALIFORNIA COMPANY | ZIMMER POWER COMPANY LLC | ||||
| Name | Jurisdiction | ||||
| Viridian International Management LLC | Delaware | ||||
|
[Signature Page to Amendment No. 2 to Master Framework Agreement]
|
||
|
[Signature Page to Amendment No. 2 to Master Framework Agreement]
|
||
|
[Signature Page to Amendment No. 2 to Master Framework Agreement]
|
||
|
[Signature Page to Amendment No. 2 to Master Framework Agreement]
|
||
|
[Signature Page to Amendment No. 2 to Master Framework Agreement]
|
||
| Date: November 5, 2021 | /s/ Curtis A. Morgan | ||||
| Curtis A. Morgan | |||||
| Chief Executive Officer | |||||
| (Principal Executive Officer) | |||||
| Date: November 5, 2021 | /s/ James A. Burke | ||||
| James A. Burke | |||||
| President and Chief Financial Officer | |||||
| (Principal Financial Officer) | |||||
| Date: November 5, 2021 | /s/ Curtis A. Morgan | ||||
| Curtis A. Morgan | |||||
| Chief Executive Officer | |||||
| (Principal Executive Officer) | |||||
| Date: November 5, 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 | 1 | — | — | — | — | 1 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leesburg | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Liberty | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Northeastern Power Cogeneration Facility | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Oak Hill | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sulphur Springs | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tatum | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Three Oaks | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Winfield North | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Winfield South | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||