Vistra Corp (NYSE: VST) is an integrated retail electricity and power generation company that produces and sells electricity to residential, commercial, and industrial customers. It makes money by generating power from a diversified fleet of assets and selling that electricity through its retail brands as well as into wholesale markets. Vistra is listed on the NYSE and, based on its 10-K filed February 27, 2026, operates primarily in Texas and other competitive U.S. power markets. The company's securities are registered under the NYSE Texas exchange, indicating a significant operational footprint in the Texas deregulated electricity market. Vistra's business spans both the generation and retail segments of the electricity value chain, giving it an integrated position from power production through end-customer billing.

Revenue model

Vistra generates revenue by selling electricity to retail customers under fixed and variable rate contracts and by selling power into wholesale electricity markets. The integrated model allows generation assets to supply the retail book directly while capturing wholesale market margins.

Products and services

Retail electricity supply to residential, commercial, and industrial customers; wholesale electricity generation from a diversified power generation fleet; the filing references multiple segments including retail and generation operations.

Customers and end markets

Residential, commercial, and industrial electricity consumers, primarily in deregulated U.S. power markets including Texas. The 10-K filed February 27, 2026 references segment information, indicating distinct retail and generation end markets.

Value-chain role

Vertically integrated power generator and retail electricity provider, operating from electricity generation through retail customer delivery.

Geographic exposure

Primarily the United States, with a material concentration in Texas based on NYSE Texas exchange registration and filing disclosures in the 10-K filed February 27, 2026.

Source: SEC 10-K, filed 2026-02-27

Industry: Electric Services Peers: AES Corp