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Vistra's Losses From Texas Disaster Increase to $1.6 Billion


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(Bloomberg) Vistra Corp.’s losses from the historic Texas cold snap deepened and now are estimated to cost the power supplier $1.6 billion.
The company said the loss worsened from the previous worst-case scenario of $1.3 billion after more counter parties failed to pay their bills to the grid manager, according to a statement Monday. The biggest driver of Vistra’s losses were sky-high natural gas costs after suppliers reneged on deliveries amid widespread failures of the state’s fuel and electricity networks.
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