State Sen. Elder Vogel (R-47) said an agreement between Vistra Corp. and Energy Harbor Corp. should be good news for keeping the Beaver Valley Nuclear Power Station open and workers employed.
Through the agreement, Energy Harbor, which owns the plant, will merge with Vistra and form a new subsidiary called Vistra Vision. The transaction will combine Energy Harbor’s nuclear and retail businesses with Vistra’s nuclear and retail businesses and Vistra Zero renewables and storage projects.
This combination creates a retail electricity and zero-carbon generation company with the second-largest competitive nuclear fleet in the country and a growing renewables and energy storage portfolio.
“This is a positive development for area citizens who rely on Beaver Valley for jobs and energy,” Vogel said. “Vistra Vision is expected to be a premier zero-carbon generation and retail growth company, and it’s exciting for the 47th Senate District to be a part of that.”
The Beaver Valley Nuclear Power Station of Shippingport generates enough electricity to power more than one million homes daily. The plant has two units. Unit 1 is licensed to operate until 2036, and Unit 2 is licensed to operate until 2047.
Vistra Vision will operate one of the largest retail businesses in the country, with approximately five million customers across 18 states.
“We look forward to welcoming the Energy Harbor generation and retail teams in Ohio and Pennsylvania to Vistra. We focus on being a preferred place to work and a core member of the communities where our plants, retail offices, and customers are located, which will soon include Akron, among other locations in Ohio and Pennsylvania. Our purpose at Vistra, ‘Lighting up lives, powering a better way forward,’ will be greatly reinforced with this exciting opportunity. I want to thank Energy Harbor for their confidence in our team at Vistra,” Vistra President and CEO Jim Burke said.