Our world is running on electricity, now more than ever. For 140 years, Vistra, through its predecessor companies, has been providing a product that is the lifeblood of society and fuels the economy. The exciting challenge ahead is to both expand and transition our energy supply as demand continues to grow. Our team at Vistra is not only up for the challenge, but we also have a vision for the future built on our tradition of success.
In 2023, our focus on the expansion of our zero-carbon portfolio was evident. In March, we were excited to announce that we would soon be adding 4,000 megawatts of zero-carbon nuclear generation to our portfolio through the acquisition of Energy Harbor1. Then in July, the team completed a 350-MW expansion at our Moss Landing Energy Storage Facility. With these two accomplishments, Vistra now owns and operates the second-largest competitive nuclear fleet in the U.S. and the second-largest capacity of energy storage in the country.
In this report, you’ll see that Vistra’s overall CO2e emissions decreased year-over-year, getting us 80% of the way to achieving our 20302 emissions targets. With additional coal plant retirements set to occur in 2027, Vistra has a direct path to fully achieving our 2030 targets two years early – by 2028. Even with our 2GW of additional natural-gas fueled capacity in ERCOT (announced May 2024), we do not foresee changes to these 2030 sustainability targets.
Customer preferences drive our retail business. In 2023, we expanded our innovative suite of green products and services to support customer sustainability goals of all kinds. From plans uniquely tailored to the needs of electric vehicle owners, to custom solutions for large business customers that drive efficiency and reduce their carbon footprint, these products are supporting a cleaner energy future.
With our industry and company in a continual state of transformation, Vistra remains focused on what sets us apart – our people. Our unified, ‘One Team’ approach brings together all employees, regardless of their business unit or job site, under the same purpose and goals for success. Our leadership team understands that fostering an environment where differences are valued and respected allows Vistra to recruit and retain the best in the industry, to spark innovation, and make better decisions. Our employees are supported by a range of training and development programs, including mentorships, an online learning community, educational assistance, and employee resource groups.
We believe that employee engagement is key to achieving accountability and ownership of our safety principles. Through continuous learning, Vistra is committed to the highest standards of safety.
Vistra also strives to set the bar in supporting our communities and customers. In 2023, our company donated $10 million to non-profits that support critical community needs, grow local economies, provide educational opportunities, and energy bill payment assistance. And our employees were there every step of the way – contributing thousands of volunteer hours and coming together as One Team to support neighbors in need through many efforts, including Vistra’s annual United Way giving campaign. Employees and the company raised over $1.8 million for the 2023 United Way campaign, continuing a proud tradition of partnership dating back over half a century.
As the largest competitive generator of power in the country, serving more residential customers than any other retail electric provider, Vistra is successfully navigating a fast-changing industry, while taking a leading role in the energy transition and expansion, while supporting our people and delivering for our customers and communities.
It’s how we’re lighting up lives and powering a better way forward. Thank you for your interest in Vistra.
Read the full report here: https://vistracorp.com/sustainability/
Jim Burke, President & Chief Executive Officer