DALLAS, Nov. 4, 2016 /PRNewswire/ -- TCEH Corp. (OTCQX: THHH) today announced a new name, Vistra Energy, that builds upon the company's 130-year track record of serving Texans and launches toward a revitalized future as a leading, dynamic energy player in Texas. As the parent company of TXU Energy and Luminant, Vistra Energy will provide customer-focused service as the state's largest electric retailer backed by safe, reliable power generation for the growing Texas market. Vistra Energy will also continue a long-standing commitment to support the communities in which its subsidiaries and predecessor companies have operated for many decades.
TCEH Corp. recently emerged from Chapter 11 as a standalone company, effected through a tax-free spinoff from Energy Future Holdings Corp. 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," Mr. 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. With a foundation of customer service and operational excellence going back generations, the company is now well-capitalized and well-positioned to take advantage of near- and long-term opportunities to grow.
In connection with today's 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.
About Vistra Energy
Vistra Energy is a premier Texas-based energy company focused on the competitive energy and power generation markets through operation as the largest retailer of electricity and generator in the growing Texas market. Our integrated portfolio of competitive businesses consists primarily of TXU Energy and Luminant. TXU Energy sells retail electricity and value-added services (primarily through our market-leading TXU Energy™ brand) to approximately 1.7 million residential and business customers in Texas. Luminant generates and sells electricity and related products from our diverse fleet of generation facilities totaling approximately 17,000 MW of generation in Texas, including 2,300 MW fueled by nuclear power, 8,000 MW fueled by coal and 6,000 MW fueled by natural gas, and is a large purchaser of wind-generated electricity.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements, which are subject to risks and uncertainties. All statements, other than statements of historical facts, are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "will likely result," "expect," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "project," "forecast," "goal," "target," "would" and "outlook," or the negative variations of those words or other comparable words of a future or forward-looking nature. Readers are cautioned not to place undue reliance on forward-looking statements. Any such forward-looking statement involves uncertainties and is qualified in its entirety by reference to the discussion of risk factors under "Risk Factors" and the discussion under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed by Energy Future Competitive Holdings Company LLC and other important factors that could cause actual results to differ materially from those implied by such forward-looking statements, including changes in the Texas energy market; economic, regulatory and environmental conditions; and any strategies the company employs to pursue growth opportunities in any particular market.
Any forward-looking statement speaks only at the date on which it is made, and except as may be required by law, Vistra Energy undertakes no 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