Core Insights - Vistra Corp. has made a final investment decision to expand gas capacity at its Permian Basin Power Plant by adding two new natural gas power units totaling 860 MW, increasing the site's capacity from 325 MW to 1,185 MW, driven by customer demand and the growing power needs in West Texas [1][2]. Company Developments - The expansion is aimed at meeting the energy demands of Texas's expanding oil and natural gas industries, with Vistra positioning itself as a leading competitive generator in the state [2]. - Vistra has entered into a 20-year power purchase agreement to supply 1,200 MW of carbon-free power from the Comanche Peak Nuclear Power Plant, with power delivery expected to begin in Q4 2027 and ramping to full capacity by 2032 [2]. Market Sentiment - Jefferies downgraded Vistra's stock to "hold" due to the absence of a deal prior to the announcement and concerns that the stock had reached its peak price [3]. - The investment bank expressed a positive view of the power sector but highlighted growing political risks in Texas and potential delays related to ERCOT system reliability issues, which could impact Vistra's ability to finalize deals in a timely manner [4].