Transcript
Introduction
Zack
I am Zack Fuss, an investor at Irenic Capital. And today, we are breaking down Vistra Corp. Vistra is an integrated retail electricity and power generation company. It was spun out of Energy Future Holdings in its emergence from bankruptcy and subsequently combined with Dynegy in 2018. The company, through its subsidiaries, is involved in electricity generation and wholesale and retail energy sales to commercial, municipal and residential customers across the U.S. The company serves 4 million Americans across 20 states producing 37,000 megawatts of capacity, enough to power 20 million homes.
To break down Vistra, I'm joined by John DeGulis, Partner and Portfolio Manager at Sound Shore Management. We go through the dramatic evolution of the industry, including John's history with Enron and TXU Energy, the acquisition track record of Vistra, including its recent acquisitions of merchant nuclear power provider, Energy Harbor and zoom out on the broader electricity production and distribution business and history in the United States. We hope you enjoy this conversation on Vistra Corp.