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Vistra to Install New Gas-Fired Units at Permian Basin Power Plant

LCG, September 30, 2025--Vistra Corp. announced yesterday that it will proceed with the next phase of its capital plan to support grid reliability in Texas. In 2024, Vistra identified over $1 billion worth of potential capital additions in generation capacity within the Texas ERCOT market by 2028 if market conditions were supportive. Now, with West Texas' growing power requirements, particularly the state's expanding oil and natural gas industries, Vistra reached a final investment decision and confirms it will build two new advanced natural gas-fired power units on-site at its Permian Basin Power Plant.

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ERCOT Announces New Grid Research, Innovation and Transformation (GRIT) Initiative

LCG, September 24, 2025--Electric Reliability Council of Texas Inc. (ERCOT) yesterday announced its new initiative to increase its efforts to fully use and apply innovation and transformation through industry collaboration to best overcome the challenges and opportunities facing future grid operations. The new Grid Research, Innovation, and Transformation (GRIT) initiative will advance research and prototyping of emerging concepts and solutions to better understand the implications of rapid grid and technology evolution and position ERCOT to lead in the future energy landscape.

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Industry News

Enron Gets $1.5 Billion -- With Strings Attached

LCG, Dec. 4, 2001--Shares in Enron Corp. jumped 132 percent to 93 cents on the new York Stock Exchange this morning in the wake of an announcement that the company had arranged $1.5 billion in new financing from J.P. Morgan Chase and Citigroup.

That $1.5 billion has more strings attached than a marionette.

Only $250,000 will be made available immediately. To get another $250,000, Enron will have to provide the two lenders with a "satisfactory business plan." "Satisfaction of certain conditions" will have to be met before the $1 billion balance is released, and even then more than half will have to be used to repay $550 million of existing indebtedness of Transwestern Pipeline.

Kenneth Lay, Enron's chairman and chief executive, said the financing will allow Enron to "continue to do business and move forward to implement the first steps of its reorganization." Company officials said that Enron normally operates with about $2.5 billion in walking around money.

Enron is feeling the squeeze. Yesterday, the company laid off about 4,000 employees at its Houston headquarters, and those came on top of 1,100 firings in Europe. Many employees of Enron and its subsidiaries have seen their retirement funds wiped out by the collapse of Enron stock from $90 a year ago to 90 cents today.

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