Texas Power Podcast Texas Power Podcast: 1-on-1 with Vistra CEO Jim Burke Doug Lewin 4.20.2023 Share Vistra CEO Jim Burke joined Episode 7 of the Texas Power Podcast with host Doug Lewin to discuss how Vistra, the largest power generator in the state, is navigating the energy transition and a shifting ERCOT market. Subscribe wherever you get your podcasts. The energy transition is daunting to incumbent energy companies— albeit in very different ways. I don’t envy Jim Burke, the CEO of Vistra, which is the parent company of legacy TXU and includes both retail (under the TXU brand) and generation (Luminant). Vistra still owns and operates significant coal assets, but has also retired a lot. And while gas remains a critical piece of Vistra’s business, the company has started to branch out into solar and storage. Vistra is bullish on the potential to engage its customers in demand response programs, too. Burke joined me on the Texas Power Podcast from Renewable Energy World to discuss timely electric grid issues in Texas, including the various market designs under consideration at the Texas Legislature and at the Public Utility Commission of Texas. The discussion opened with Burke sharing how Texas’s move to a competitive market was foundational to Vistra and has shaped its business model over time. We talked about Vistra’s upcoming goals to achieve net zero by integrating more renewables into their operations and into the grid as a whole. We covered the recent acquisition Vistra made to increase its nuclear fleet. We also covered Vistra’s battery facility sites in Texas and California, the differences in duration between the two sites, and how each contributes to grid reliability. Burke discussed the impacts of the Inflation Reduction Act, his ‘technology agnosticism,’ and Vistra’s current focus on reliability. He also explored what the ongoing and impending energy transition means for a company that has traditionally relied on fossil fuels and the need to move away from an either/or, overly simplistic debate in regard to the use of natural gas and renewables. Check out the “Texas Power Podcast,” the newest podcast from Renewable Energy World. Host Doug Lewin guides listeners through the complicated world of Texas energy policy, including market redesign efforts and the response to Winter Storm Uri. Subscribe today wherever you get your podcasts. Of course, one of the most fascinating parts of the discussion was diving into Burke’s views of the current market redesign proposals in Texas, including Vistra’s favored approach, the Performance Credit Mechanism (PCM). Burke shared his perspective on the need to integrate as much renewable energy as possible while adequately compensating thermal resources and storage that, in his view, effectively comprise a “backup grid.” We also talked about the necessity in ERCOT to use more demand-side resources, and how Vistra through its retail unit TXU, is using price signals to induce customers to respond by reducing demand. Burke expressed the importance of empowering customers to engage in these programs and better understand, and therefore manage, their energy usage. He also discussed the potential of virtual power plants, the challenges of implementing demand response programs, and the importance of having automated versus passive demand response programs. Vistra faces daunting challenges. They’ve got a CEO with vision but the energy transition will be extremely difficult for him and his leadership team to navigate. We ended the conversation with Burke sharing his excitement over new technology developments, including advanced nuclear, renewables, and storage. Burke and team have a major balancing act to deploy these clean technologies, manage the decline of their older thermal assets (especially coal), and engage their customers more deeply. This conversation is a fascinating window into the mind and outlook of the leader of the largest generator in Texas. I hope you enjoy the episode. Please leave us a rating and review wherever you get your podcasts Related Posts Texas would be ‘crazy to penalize renewables,’ CPS Energy CEO Rudy Garza says Texas Power Podcast episode list A Cambrian explosion of distributed energy in Texas Geothermal energy and the revival of a forgotten renewable