Vistra in Q2 had ‘not a good stretch,’ CEO says, but fundamentals supportive

摘要

Investors interested in Vistra Energy have overreacted to the current low-commodity-price environment, which was exacerbated by Texas’ mildest June in 15 years, CEO Curt Morgan said Friday, but his company’s hedging and retail activity will strengthen the company’s fundamentals over time. Over the past three months, news of increased capacity availability in the Electric Reliability Council of Texas, mild weather, the delay in the PJM Interconnection’s capacity auction, potential new combinedcycle gas turbine plants in PJM and nuclear subsidy legislation appear to have prompted investors to cut Vistra’s equity value about $3 billion, said Morgan, who also serves as president.