Vistra Corp. (NYSE:VST) Q4 2022 Earnings Call Transcript

Jim Burke: Dispatchable assets are core to serving Retail load. In fact, I think we have seen, and this is what Steve Muscato and his commercial team focus on every day is, can you serve Retail loads successfully, simply with renewables and batteries. And it’s a really tough €“ it’s a really tough effort to manage the risk around that. So dispatchable assets clearly are required to be successful with risk management on Retail. Comanche Peak itself, we talked about was the anchor tenant in Vistra Zero when we first announced Vistra Zero. Obviously, it’s got additional support from the production tax credit. We just obviously put in for the relicensing of it, and it operates at one of the lowest cost structures, if not the lowest cost structure, in the industry.

So we do occasionally get inbounds from people that ask that question, Angie, and we are obviously interested in long-term value creation, but we like the Comanche Peak asset. It fits within our portfolio in Texas, given our sizable retail presence. and obviously, nuclear has been given a new level of interest given the Inflation Reduction Act, but we will always engage ideas. But in the core competencies of €“ we run plants well, we serve customers well, and we commercially risk manage the 2, I think it’s a core asset.

Operator: This concludes our question-and-answer session. I would now like to turn the conference over to Jim Burke for any closing remarks.

Jim Burke: I just want to thank everybody for joining. I want to thank the hard-working team at Vistra for a strong 2022, and we have turned our attention, and we’re focused on delivering in 2023. So I hope everybody has a great morning. Look forward to talking to you again soon.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.