Irving, Texas based Vistra Energy finished its merger with Dynegy, which is also based in Texas.
“With this combination completed, Vistra Energy is now positioned to be the leading integrated power company in the United States,” said Vistra Energy president and CEO Curt Morgan. “We further believe our low-cost structure, diversified business operations, and strong balance sheet create the platform to produce significant shareholder value, as demonstrated by our stated expectation to exceed our previously communicated merger-related synergy and operational improvement targets.”
The merged company will serve 2.7 million residential customers and about 240,000 commercial and industrial customers with about 40,000 MW of power generation capacity.
The company’s power plant fleet is about 60 percent natural gas-fired, and is located mostly across the ERCOT, PJM Interconnection and ISO-New England power markets.
According to reports, three of Dynegy’s directors, Hilary E. Ackermann, Paul M. Barbas, and John R. Sult, are now members of Vistra Energy board of directors.