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high riskEstimated $50-100 million (executive compensation)
Curt Morgan
CEO of Vistra Corp
Chief Executive Officer of Vistra Corp (2016-2023); Oversaw $2.4B windfall from Winter Storm Uri
Overview
Curt Morgan served as CEO of Vistra Corp, the largest competitive power generator in Texas, during Winter Storm Uri in February 2021. Under his leadership, Vistra reported $2.4 billion in windfall EBITDA gains from the crisis while the company's own generation facilities failed to perform, contributing to the grid collapse that killed hundreds of Texans. Despite receiving post-2011 recommendations to winterize facilities, Vistra failed to adequately weatherize its power plants. Morgan received millions in executive compensation while Texas consumers were hit with billions in excess charges.
Key Affiliations
Controversies & Concerns
CRISIS PROFITEERING: Vistra Corp reported $2.4 billion in windfall EBITDA gains from the February 2021 crisis while hundreds of Texans froze to death and millions went without power
WINTERIZATION FAILURE: Failed to adequately weatherize Vistra generation facilities despite 2011 FERC/NERC recommendations, directly contributing to generation shortfalls during Winter Storm Uri
EXECUTIVE COMPENSATION: Received millions in executive compensation and bonuses in 2021 despite Vistra's role in the grid failure and subsequent public outcry
LOBBIED AGAINST REFORM: Vistra lobbied against stronger weatherization penalties and mandatory grid interconnection with the national system
Related Investigations (1)
Known Associates & Connections
Kelcy Warren
Fellow energy executive who profited massively from the same crisis
DeAnn Walker
PUCT Chair whose pricing order generated the windfall profits
Bill Magness
ERCOT CEO who maintained the $9,000/MWh price cap that created windfall
Personal Information
- Born
- Unknown
- Birthplace
- United States
Education
- •Drexel University