Power producer Vistra stated that, following the US midterm elections, there has been no observed shift in demand from Texas to PJM.

Varun Sahay

Reuters, November 6 - U.S. power producer Vistra VST.N said on Friday that demand from hyperscale enterprises and other large-load customers remains strong, and these demands have not shifted from Texas to the PJM market following the recent U.S. midterm elections.

This statement comes as investors evaluate the potential impact of increased scrutiny for large power users seeking access to the Texas grid—a key destination for artificial intelligence and data center investments.

"We are actively negotiating with large-load customers in both the PJM and ERCOT grid regions for existing and new assets," CEO Jim Burke said during the earnings call.

The company’s stock price rose by 10.2% in afternoon trading.

Vistra said it is in power purchase agreement negotiations for existing gas-fired plants and new gas projects, while executives said they remain confident in signing more nuclear power agreements.

Burke stated that after months of regulatory and political uncertainty, the clarity of election results will facilitate project progress.

"In fact, I think our situation right now is, in some ways, clarity," Burke said, "and that will help eliminate some distractions."

Executives also noted that some clients are increasingly willing to adopt higher-cost "behind-the-meter" power solutions while they wait for grid interconnection.

As policymakers strive to ensure new projects do not increase costs for existing customers or impact grid reliability, Texas regulators have been reviewing large-load interconnection applications.

According to LSEG data, Vistra reported third-quarter adjusted core profit of $2.38 billion, higher than analysts’ average estimate of about $2.1 billion.

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