In February, Vistra Energy, parent company to TXU Energy and Luminant, shut down 4,200 megawatts of coal-fire capacity "because they just couldn't make it in today's world," Morgan said.
Looking to the future, the company has invested in a 180-megawatt solar plant in Texas, the CEO said, adding that Vistra's leadership is continuing to look into other renewables like battery power.
"Batteries just open up a very different world and they're becoming more and more cost-effective," Morgan told Cramer. "When you combine batteries with the intermittent nature of renewables, you can create a more stable electric product."
Vistra Energy has a market cap of $9.4 billion and serves nearly 3 million retail customers. Vistra shares were trading just over $21 Monday, compared with about $16 a year ago.
Watch Curtis Morgan's full interview here:
Coal is on its way out, says Vistra Energy CEO as company shuts down coal plants
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