License renewal would ensure continued
reliable, baseload generation from Vistra's largest source of
zero-carbon electricity
IRVING,
Texas, Oct. 3, 2022 /PRNewswire/ -- Vistra (NYSE:
VST) today announced that it is seeking to extend the operation of
Luminant's Comanche Peak Nuclear Power Plant through 2053, an
additional 20 years beyond its original licenses. The company has
officially submitted its application for license renewal with the
Nuclear Regulatory Commission.
"Comanche Peak is one of the lowest-cost and highest-performing
nuclear power plants in the country and is a large, dispatchable
source of carbon-free electricity," said Jim Burke, president and CEO of Vistra.
"Renewing the licenses of this plant is critical for grid
reliability and our environment and is a benefit to the economy,
the local community, and our company."
The two-unit nuclear plant has a capacity of 2,400 MW – enough
to power about 1.2 million Texas
homes in normal conditions and 480,000 homes in periods of peak
demand. Since it began operating in 1990, Comanche Peak has
generated more than 582 million megawatt-hours of reliable,
emission-free electricity.
Burke continued, "Our country is navigating a massive transition
to cleaner sources of electricity, and at the same time, we cannot
lose sight of reliability. Nuclear energy is uniquely positioned to
provide that balance of emission-free power and always-on baseload
capabilities. Our team stands ready to continue a proud tradition
of safety, dependability, and operational excellence at Comanche
Peak, and we are excited to be filing this application for
extension."
Reliable, Clean, Emission-Free Electricity
Vistra has established a leading role in the energy transition
with Comanche Peak Nuclear Power Plant at the center of Vistra
Zero, its zero-carbon generation portfolio. With a robust pipeline
of development projects, Vistra expects to have at least 7,300 MW
of zero-carbon generation online by 2026 across Texas, California, and Illinois. The company is committed to a 60%
reduction in greenhouse gas emissions by 2030, compared to a 2010
baseline, and we've already achieved more than 72% of that
target.
Economic Engine for Local Economy
Comanche Peak is operated by more than 600 employees and more
than 200 permanent contractors. Refueling outages for the two
reactors, which routinely occur four times over a three-year
period, require supplemental workers and bring in anywhere from
800-1,200 skilled technicians from across the country. These
contractors are a source of substantial additional economic
activity for hotels, restaurants, and related businesses in the
area.
As the largest taxpayer in Somervell
County, Texas, the plant pays more than $30 million a year in state and local taxes.
Additionally, Comanche Peak donates thousands of dollars to
community organizations, funds environmental protection programs,
and takes part in civic engagement activities in both Somervell and Hood counties.
The current licenses for units 1 and 2 extend through 2030 and
2033, respectively. The company is applying to renew the licenses
through 2050 and 2053, respectively.
About Vistra
Vistra (NYSE: VST) is a leading Fortune 500 integrated retail
electricity and power generation company based in Irving, Texas, providing essential resources
for customers, commerce, and communities. Vistra combines an
innovative, customer-centric approach to retail with safe,
reliable, diverse, and efficient power generation. The company
brings its products and services to market in 20 states and the
District of Columbia, including
six of the seven competitive wholesale markets in the U.S. Serving
approximately 4 million residential, commercial, and industrial
retail customers with electricity and natural gas, Vistra is one of
the largest competitive electricity providers in the country and
offers over 50 renewable energy plans. The company is also the
largest competitive power generator in the U.S. with a capacity of
approximately 39,000 megawatts powered by a diverse portfolio,
including natural gas, nuclear, solar, and battery energy storage
facilities. In addition, Vistra is a large purchaser of wind power.
The company owns and operates the 400-MW/1,600-MWh battery energy
storage system in Moss Landing,
California, the largest of its kind in the world. Vistra is
guided by four core principles: we do business the right way, we
work as a team, we compete to win, and we care about our
stakeholders, including our customers, our communities where we
work and live, our employees, and our investors. Learn more about
our environmental, social, and governance efforts and read the
company's sustainability report at
https://www.vistracorp.com/sustainability/.
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SOURCE Vistra Corp.