Company is committed to help meet critical needs in the communities it serves
IRVING, Texas, March 26, 2020 /PRNewswire/ -- Vistra Energy (NYSE: VST) announced today that it is donating $2 million to non-profits and social service agencies, providing direct relief for people with critical needs resulting from the COVID-19 pandemic in the communities it serves. The company recognizes the financial hardship inflicted on millions of Americans in the span of mere weeks. Aside from the stark health impacts, the COVID-19 outbreak has led to a reduction in income for some and job loss for others, making the most essential purchases, like food and electricity, difficult to afford.
"All of us at Vistra are heartbroken to hear how lives have been upended by this pandemic disaster," said Curt Morgan, president and chief executive officer of Vistra. "Many of our neighbors were already dealing with difficult financial circumstances, now made much worse by COVID-19. We want to make sure as many people as possible have access to the things they need most."
Vistra's donation recipients for COVID-19 relief efforts in communities across the country include:
- TXU Energy Aid: The company's signature program is also one of the largest bill-payment assistance programs in the United States. It is funded by donations from employees, customers, and corporate contributions, and distributed through social service agencies across Texas.
- Ambit Cares: The philanthropic program works to change the lives of those in need by fighting hunger. Ambit Cares is funded by employees, customers, and corporate contributions, and is a Supporting Partner of Feeding America®, the nation's largest organization dedicated to fighting domestic hunger through a network of more than 200 food banks and 60,000 food pantries and meal programs.
- United Way: Vistra has a longstanding partnership with United Way, particularly with United Way of Metropolitan Dallas, through the company's annual giving campaign, with donations from employees and a corporate matching program, as well as numerous volunteer events throughout the year. The Covid-19 Community Response and Recovery Fund supports community-based organizations assisting those who have been hit hardest, and bolsters 211, the go-to information resource in times of crisis.
- Numerous partner agencies, food banks, and food pantries: Vistra is supporting organizations in the communities around our Luminant power plants and across the states where Vistra does business through its retail brands – Dynegy, Homefield Energy, USG&E, and Public Power.
"We've always been committed to helping those in need. Doing business the right way is woven into the fabric of who we are as a company," Morgan continued. "We genuinely care about our customers and the communities in which we live and work, and we're determined to deliver meaningful assistance to those who need it most."
About Vistra Energy
Vistra Energy (NYSE: VST) is a premier, integrated, Fortune 350 energy 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 markets in the U.S. and markets in Canada and Japan, as well. Serving nearly 5 million residential, commercial, and industrial retail customers with electricity and gas, Vistra is the largest competitive residential electricity provider in the country and offers over 40 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 of natural gas, nuclear, coal, solar, and battery energy storage facilities. In addition, the company is a large purchaser of wind power. The company is currently developing the largest battery storage system of its kind in the world – a 300-MW/1,200-MWh system in Moss Landing, California. 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 people, our neighbors, and our stakeholders. Learn more about Vistra's environmental, social, and governance efforts and read the company's sustainability report at https://www.vistraenergy.com/sustainability/.
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The information presented herein includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on current expectations, estimates and projections about the industry and markets in which Vistra Energy Corp. ("Vistra Energy") operates and beliefs of and assumptions made by Vistra Energy's management, involve risks and uncertainties, which are difficult to predict and are not guarantees of future performance, that could significantly affect the financial results of Vistra Energy. All statements, other than statements of historical facts, that are presented herein, or in response to questions or otherwise, that address activities, events or developments that may occur in the future, including such matters as activities related to our financial or operational projections, projected synergy, value lever and net debt targets, capital allocation, capital expenditures, liquidity, projected Adjusted EBITDA to free cash flow conversion rate, dividend policy, business strategy, competitive strengths, goals, future acquisitions or dispositions, development or operation of power generation assets, market and industry developments and the growth of our businesses and operations (often, but not always, through the use of words or phrases, or the negative variations of those words or other comparable words of a future or forward-looking nature, including, but not limited to, "intends," "plans," "will likely," "unlikely," "believe," "expect," "seek," "anticipate," "estimate," "continue," "will," "shall," "should," "could," "may," "might," "predict," "project," "forecast," "target," "potential," "forecast," "goal," "objective," "guidance" and "outlook"),are forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Although Vistra Energy believes that in making any such forward-looking statement, Vistra Energy's expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and risks that could cause results to differ materially from those projected in or implied by any such forward-looking statement, including but not limited to (i) adverse changes in general economic or market conditions (including changes in interest rates) or changes in political conditions or federal or state laws and regulations; (ii) the ability of Vistra Energy to execute upon the contemplated strategic and performance initiatives (including the risk that Vistra Energy's and Dynegy's respective businesses will not be integrated successfully or that the cost savings, synergies and growth from the merger will not be fully realized or may take longer than expected to realize); (iii) actions by credit ratings agencies, (iv) with respect to the Crius acquisition, the ability for Vistra to successfully integrate the Crius business as currently projected, and (v) those additional risks and factors discussed in reports filed with the Securities and Exchange Commission ("SEC") by Vistra Energy from time to time, including the uncertainties and risks discussed in the sections entitled "Risk Factors" and "Forward-Looking Statements" in Vistra Energy's annual report on Form 10-K for the year ended December 31, 2018 and any subsequently filed quarterly reports on Form 10-Q.
Any forward-looking statement speaks only at the date on which it is made, and except as may be required by law, Vistra Energy will not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible to predict all of them; nor can Vistra Energy assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.
SOURCE Vistra Energy