UPDATE 3-Vistra signs deal to supply nuclear power from Texas plant

(Recasts lead and headline; adds details about nuclear supply deal in paragraphs 1-5) By Pranav Mathur Sept 29 (Reuters) – Vistra Corp has secured a long-term deal to supply power from its Comanche Peak nuclear plant to an unnamed buyer, it said on Monday. The utility said in a regulatory filing that it has signed a 20-year deal to supply 1,200 megawatt of power from its nuclear power plant in Somervell County, Texas, to an undisclosed investment-grade buyer. Vistra expects power delivery to start in the fourth quarter of 2027, and full capacity by 2032. "This deal catches Vistra up with independent power producer peers in the race to secure megawatts under long term contract," said Scotiabank analyst Andrew Weisel. But Weisel said some investors seemed unsatisfied as the contract covers only 50% of the Comanche Peak plant's capacity and as Vistra not naming the customer suggests it might not be a data center. Shares of the company fell nearly 2% in afternoon trade. Earlier in the day, the shares had risen marginally after the utility said it will build two new natural gas units at the Permian Basin power plant in West Texas. The addition of the two units at the Permian Basin power plant, together totaling 860 megawatts, will take the site's current capacity to 1,185 MW, it said. Vistra had said last year it would add up to 2,000 MW of natural-gas-fueled power capacity in Texas by 2028, which would be enough electricity to power 1 million homes. U.S. power consumption is expected to reach record highs in this year and the next, fueled by demand from data centers dedicated to AI and cryptocurrency, as well as increased electricity use in homes and businesses for heating and transportation. (Reporting by Pranav Mathur in Bengaluru; Editing by Anil D'Silva, Krishna Chandra Eluri, Shilpi Majumdar and Sahal Muhammed)

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