Upon receiving a pivotal endorsement, Vistra Corp. (NYSE: VST) shares are witnessing a notable surge. As of the latest update, VST shares have ascended 13.68% to trade at $78.44.
Winning Extended Plant Operation Approval
Vistra (VST) has announced that the Nuclear Regulatory Commission (NRC) has granted its request for a 20-year extension on the operation of the Comanche Peak Nuclear Power Plant, extending its operational life through 2053. This extension follows the company’s application for license renewal submitted to the NRC in October 2022.
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The extension is crucial as demand for electricity continues to increase rapidly. Reliable power sources, such as Comanche Peak, will be vital in meeting this demand. This demand surge occurs simultaneously with the nation’s transition to cleaner energy sources and the retirement of numerous fossil fuel plants.
Carbon-Free Commitments
Electricity remains a fundamental component of the economy, and the extension of Vistra’s nuclear fleet supports both existing and expanding sectors for decades to come. Vistra proudly acknowledges its role in delivering carbon-free energy and highlights the exceptional performance and safety record of its Comanche Peak team, which has contributed to securing this operational extension.
Operational Excellence
An April report from NRC staff praised Vistra’s “proactive and voluntary efforts” in expediting the license renewal process. The company’s submission of three additional supplements to its application led to a 70% reduction in information requests compared to previous renewals. With this approval, Comanche Peak, a two-unit facility, becomes the third of Vistra’s four nuclear plants to secure a license extension.
Units 1 and 2 are now authorized to operate until 2050 and 2053, respectively. Vistra’s Beaver Valley Nuclear Power Plant units 1 and 2 in Pennsylvania are licensed until 2036 and 2047, and Davis-Besse in Ohio is licensed until 2037. Perry Nuclear Power Plant in Ohio, having filed its renewal application in 2023, is currently under NRC review.
