| Segment | Value | % of Price | Type |
|---|---|---|---|
| Net Cash | $5 | 3% | auditable |
| Power Generation | $80 | 53% | anchored |
| TXU Energy Retail | $50 | 33% | anchored |
| Nuclear/AI Premium | $15 | 10% | anchored |
Anchored: $145/sh (96%) · Speculative: $0/sh (0%)
Vistra's power generation fleet includes ~6.6 GW nuclear (Comanche Peak in ERCOT, plus PJM plants), ~34 GW gas and coal in ERCOT and PJM, and growing solar and battery storage assets. The fleet is expanding to ~49 GW post-Cogentrix (5,500 MW) and Lotus (2,600 MW) acquisitions. The nuclear plants...
Vistra's retail electricity business (primarily TXU Energy and Dynegy brands) serves approximately 4.3 million customers in Texas and other deregulated markets. The retail segment provides a natural hedge against generation exposure: when wholesale power prices rise, generation profits increase but...
The Nuclear/AI Premium represents the incremental value from Vistra's nuclear fleet beyond its current contracted revenue. This includes: (1) Nuclear uprate potential (~660 MW, primarily at Comanche Peak, targeted for early 2030s), (2) optionality from additional hyperscaler PPAs beyond the...