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Article content (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. We apologize, but this video has failed to load. Try refreshing your browser, or Vistra s Losses From Texas Disaster Increase to $1.6 Billion Back to video ....
BP’s ‘exceptional’ trading quarter stamps it as another Texas freeze winner CEO: ‘We were well-positioned for colder-than-normal weather in the U.S.’ During one of the most remarkable weeks in the market’s history, BP, the biggest physical gas supplier in the U.S., took advantage of prices that skyrocketed 300-fold in some areas.(Mel Evans) Two months after a winter freeze that paralyzed Texas and sent electricity and gas prices soaring, another big winner has emerged. BP Plc said Tuesday its gas trading unit had an “exceptional” first quarter, helping to drive profit well above pre-pandemic levels. While executives didn’t spell it out, all signs point to large gains from the frigid weather in Texas. ....
Vistra Updates Financial Impact of Winter Storm Uri and Reissues 2021 Guidance News provided by Share this article Estimating the financial impact of Winter Storm Uri ( Uri ) on 2021 Ongoing Operations Adjusted EBITDA 1 and Ongoing Operations Adjusted Free Cash Flow before Growth (FCFbG) 1 at ~$(1,600) million, including self-help initiatives. Reissuing 2021 Ongoing Operations Adjusted EBITDA 1 and Ongoing Operations Adjusted FCFbG 1 guidance ranges at $1,475 to $1,875 million and $200 to $600 million, respectively. Providing an update on its 2021 capital allocation plan. Hosting an investor update call today at 8 a.m. EDT (7 a.m. CDT) in lieu of its regularly scheduled quarterly earnings conference call; filing its Quarterly Report on Form 10-Q for the first quarter of 2021 and posting the related investor materials to its website on May 5, 2021. ....
More storm damage: Texas freeze losses rise to $1.6 billion for Vistra, turning profits into red ink dallasnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dallasnews.com Daily Mail and Mail on Sunday newspapers.
Vistra says Texas February freeze cost about $1.6 billion leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.