Vistra profit falls on hedging losses

Vistra’s net income stood at US$502mil in the three months ended Sept 30, compared to US$678mil a year earlier, the company said. — Reuters

NEW YORK: Texas-based energy company Vistra on Tuesday posted lower third-quarter net income, as higher hedging losses offset record electricity demand during a hot summer.

Vistra’s net income stood at US$502mil in the three months ended Sept 30, compared to US$678mil a year earlier, the company said. Within the Texas region, hotter-than-usual temperatures had kept wholesale power prices higher than it had expected, it said, which ate into its earnings.