Vistra moves to extend operation of 2,400 MW Comanche Peak Nuclear Plant

Vistra (NYSE: VST) today announced that it is seeking to extend the operation of Luminant's Comanche Peak Nuclear Power Plant through 2053, an additional 20 years beyond its original licenses. The company has officially submitted its application for license renewal with the Nuclear Regulatory Commission.

"Comanche Peak is one of the lowest-cost and highest-performing nuclear power plants in the country and is a large, dispatchable source of carbon-free electricity," said Jim Burke, president and CEO of Vistra. "Renewing the licenses of this plant is critical for grid reliability and our environment and is a benefit to the economy, the local community, and our company."

The two-unit nuclear plant has a capacity of 2,400 MW – enough to power about 1.2 million Texas homes in normal conditions and 480,000 homes in periods of peak demand. Since it began operating in 1990, Comanche Peak has generated more than 582 million megawatt-hours of reliable, emission-free electricity.

Burke continued, "Our country is navigating a massive transition to cleaner sources of electricity, and at the same time, we cannot lose sight of reliability. Nuclear energy is uniquely positioned to provide that balance of emission-free power and always-on baseload capabilities. Our team stands ready to continue a proud tradition of safety, dependability, and operational excellence at Comanche Peak, and we are excited to be filing this application for extension."

Reliable, Clean, Emission-Free Electricity

Vistra has established a leading role in the energy transition with Comanche Peak Nuclear Power Plant at the center of Vistra Zero, its zero-carbon generation portfolio. With a robust pipeline of development projects, Vistra expects to have at least 7,300 MW of zero-carbon generation online by 2026 across Texas, California, and Illinois. The company is committed to a 60% reduction in greenhouse gas emissions by 2030, compared to a 2010 baseline, and we've already achieved more than 72% of that target.

Economic Engine for Local Economy

Comanche Peak is operated by more than 600 employees and more than 200 permanent contractors. Refueling outages for the two reactors, which routinely occur four times over a three-year period, require supplemental workers and bring in anywhere from 800-1,200 skilled technicians from across the country. These contractors are a source of substantial additional economic activity for hotels, restaurants, and related businesses in the area.

As the largest taxpayer in Somervell County, Texas, the plant pays more than $30 million a year in state and local taxes. Additionally, Comanche Peak donates thousands of dollars to community organizations, funds environmental protection programs, and takes part in civic engagement activities in both Somervell and Hood counties.

The current licenses for units 1 and 2 extend through 2030 and 2033, respectively. The company is applying to renew the licenses through 2050 and 2053, respectively.

Source Link: https://investor.vistracorp.com/2022-10-03-Vistra-Moves-to-Extend-Operation-of-2,400-Megawatt-Comanche-Peak-Nuclear-Plant