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TXU Parent Announces Plans to Add Up to 2,000 MW of Gas-Fueled Dispatchable Power in ERCOT
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Vistra today announced its intention to add up to 2,000 megawatts of dispatchable, natural-gas-fueled power capacity in West, Central, and North Texas.
Vistra's plan includes:
• New gas plants -- Vistra intends to build up to 860 MW of advanced simple-cycle peaker plants to be located in West Texas
• Repowering a retired coal plant -- Vistra's coal-fueled Coleto Creek Power Plant near Goliad is set to retire in 2027 to comply with federal Environmental Protection Agency rules. The company intends to repower it as a gas-fueled plant, enabling up to 600 MW of additional capacity after the coal facility retires.
• Upgrades of existing gas plants -- Vistra will complete several projects at its existing gas plants that will add more than 500 MW of summer capacity and 100 MW of winter capacity. Nearly half of this capacity will come online this summer with the remainder coming by summer 2025.
Vistra is planning to file on Friday, May 31, a Notice of Intent to apply for the Texas Energy Fund for the new peakers described above
"Texas policymakers are implementing several enhancements to our competitive, energy-only electricity market to incentivize construction of much-needed dispatchable generation, and gas plants are able to meet that need. Based on these market enhancements, Vistra is pleased to announce our investment to bring approximately 2,000 MW of dispatchable power generation to the ERCOT grid, and we look forward to being part of the solution as our industry strives to meet the growing power needs of Texas," said Jim Burke, president and CEO of Vistra.
Vistra said, "Vistra is announcing its new peaker plants, the repowered Coleto Creek plant, and the upgrade projects based on the market reforms that policymakers passed in the 2023 Texas legislative session and that ERCOT and the Public Utility Commission of Texas are currently implementing. With successful implementation, this robust set of market reforms, focused on grid reliability and proper market signals, has the potential to offer the regulatory framework that is needed to provide confidence to make the long-term investments Vistra is announcing today. These reforms include a suite of ancillary services, the performance credit mechanism (PCM), and an effective reliability standard -- a first for Texas."
"In addition to ERCOT market design reforms, Vistra's decision to move forward with these projects is contingent upon other various factors, including state and federal environmental regulations and long-term wholesale trends that continue to support gas generation," Vistra said
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May 30, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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