Vistra to Sell Ohio Power Plants to Address Antitrust Concerns Over $6.3 Billion Energy Harbor Deal

Vistra plans to sell two power plants totaling 386 MW in Ohio to ease market power fears from the Energy Harbor deal. The Department of Justice’s antitrust division and others contend the deal may give Vistra the ability to unduly influence power prices in PJM. The companies are seeking Federal Energy Regulatory Commission approval for a $6.3 billion deal to buy Energy Harbor’s nuclear power plants and retail electric business. The deal has prompted letters of concerns to FERC from the Office of the Ohio Consumers’ Counsel, the Northeast Ohio Public Energy Council and Monitoring Analytics, the PJM’s market monitor. After Vistsra buys the Energy Harbour assets to form VistRA Vision, the company will only develop, own and operate non-fossil fuel generating facilities, engage in competitive retail power marketing activities, and conduct related activities such as selling renewable energy credits. The two companies expect to complete their deal in the fourth quarter.