TCEH Corp., which holds the power plants in Texas recently bought by creditors of bankrupt Energy Future Holdings, announced Nov. 4 that the Financial Industry Regulatory Authority Inc. (FINRA) has approved its decision to change its name to Vistra Energy Corp.
FINRA also approved the company’s request to change its ticker symbol from THHH to VSTE on the OTCQX market. The common shares will trade under the CUSIP number 92840M102, and the TRA Rights will now reflect a CUSIP number of 92840M110. The changes are anticipated to be effective as of the opening of market trading on Monday, Nov. 7, 2016.
Vistra Energy has an integrated portfolio of competitive businesses that consists primarily of TXU Energy and Luminant. TXU Energy sells retail electricity and value-added services to approximately 1.7 million residential and business customers in Texas. Luminant generates and sells electricity and related products from a diverse fleet of Texas generation facilities totaling approximately 17,000 MW, including 2,300 MW fueled by nuclear power, 8,000 MW fueled by coal and 6,000 MW fueled by natural gas. It is also a large purchaser of wind-generated electricity.
The rebranded entity Vistra Energy includes TCEH’s experienced management team, led by Chief Executive Officer Curt Morgan. “The energy market in Texas – and beyond – has never been more exciting and transformative,” Morgan said. “This includes new technologies that are reimagining how we generate energy, and unprecedented choice and control for today’s energy consumers. The Vistra Energy brand is intended to capture the full opportunity set before us, backed by a proud history, the industry’s best team of professionals, stellar operating assets and a strong balance sheet.”
The name Vistra Energy captures the “vision” of an energy company preparing for the future and the “tradition” of an energy company whose lineage dates more than a century.
In connection with the Nov. 4 announcement, Vistra Energy has launched a new online presence at www.vistraenergy.com. Information concerning TXU Energy and Luminant can be found at www.txu.com and www.luminant.com.