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spk01: Good morning and welcome to the VISTA second quarter 2024 results conference call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Eric Misek, Vice President of Investor Relations. Please go ahead.
spk02: Good morning, and thank you all for joining Vistra's Investor Webcast discussing our second quarter 2024 results. Our discussion today is being broadcast live from the Investor Relations section of our website at www.vistracorp.com. There you can also find copies of today's investor presentation and earnings release. Leading the call today are Jim Burke, VISTA's President and Chief Executive Officer, and Chris Moldovan, VISTA's Executive Vice President and Chief Financial Officer. They are joined by other VISTA senior executives to address questions during the second part of today's call as necessary. Our earnings release, presentation, and other matters discussed on the call today include references to certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP measures are provided in the earnings release and in the appendix to the investor presentation available in the investor relations section of VISRA's website. Also, today's discussion contains forward-looking statements which are based on assumptions we believe to be reasonable, only as of today's date. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected or implied. We assume no obligation to update our forward-looking statements. I encourage all listeners to review the safe harbor statements included on slide two of the investor presentation on our website, that explains the risks of forward-looking statements, the limitations of certain industry and market data included in the presentation, and the use of non-GAAP financial measures. I'll now turn the call over to our President and CEO, Jim Burke.
spk00: Thank you, Eric. Good morning, and thank you all for joining us to discuss our second quarter 2024 operational and financial results. Beginning on slide five, you can see the team has been hard at work across multiple parts of our business. Through their efforts, we achieved ongoing operations adjusted EBITDA of $1,414,000,000, a very strong second quarter against a backdrop of lower wholesale energy prices across the country. While results benefited from the inclusion of the first full quarter contribution from the Energy Harbor businesses, consistent execution from our generation commercial and retail teams played a major role in this achievement. Specifically, our diversified portfolio of generation assets produced record levels of power for our customers while completing the planned outages needed to prepare the fleet for the crucial summer months. Our retail business, led by our flagship TXU Energy brand, delivered year-over-year growth while producing solid margin performance and maintaining a top score on the PUC of Texas Power to Choose scorecard. Finally, despite the weather volatility across the country, in general, power prices cleared below our hedge levels. Through strong execution of our comprehensive hedging program by our commercial team, our second quarter results reflect the solid performance anticipated when we set our expectations for the year. Turning to guidance, we are reaffirming our guidance range for 2024 ongoing operations adjusted EBITDA of $4,550,000,000 to $5 billion, $50 million. Based on performance to date and our forecast for the remainder of the year, we are confident in our ability to deliver towards the upper end of this range. As we noted during our first quarter results call, our guidance excludes any potential benefit related to the Nuclear Production Tax Credit, or PTC,
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