Vistra grabs $94M capacity revenue in PJM auction
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Vistra (NYSE:VST) said on Wednesday it contracted nearly 6.9 GW of generation at a weighted average clearing price of $37.20 per MW-day, totaling $94M in revenue for the 2023-24 planning year, in a capacity auction held by PJM Interconnection.
Including $70M-$75M in incremental revenue from existing retail and other third-party bilateral sales above the capacity auction clearing price, Vistra (VST) estimates revenues for the planning year starting June 2023 at $164M-$169M from the auction.
Separately, Constellation Energy (CEG) said all 16,175 MW of its nuclear capacity in PJM cleared the auction, up from 9,900 MW last year, when its Byron, Dresden and Quad Cities nuclear plants failed to land capacity obligations.
Vistra (VST) is one of "three top utility stocks to buy to help pay your AC bill," according to Steven Cress in a bullish analysis published recently on Seeking Alpha.