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Stakeholders around the country have been aggressively pursuing a path to a clean energy economy in hopes of curbing climate change effects and driving environmental justice. Out of that mission has come the Inflation Reduction Act, a 2022 law that aims to deliver climate results through a combination of grants, loans, rebates, incentives, and other investments in the clean energy sector.
As a leading retail electricity and power generation company, Vistra Corporation stands on the cutting edge of those efforts, and Emily O’Brien, who serves as deputy chief tax counsel for the company, is helping it capitalize on the opportunity.
“One of our main focuses at Vistra is energy expansion, making sure we have a grid that’s reliable, affordable, and sustainable,” says O’Brien, who’s been with the company since 2013 and is responsible for all things tax. “And the provisions in [the IRA] that will allow us to push that vision forward are tax-driven and are very complicated. They include these complex calculations, and it’s all brand new. It’s exciting because it’s like we’re all figuring it out together.”
Over the past year-and-a-half, O’Brien, a tax attorney with over a decade of experience, has been explaining the new rules to leadership and helping to implement them. It’s quite the task getting people to see the value of an area that would normally make them cringe. But it’s one that O’Brien is particularly passionate about.
“Taking complex issues and making them accessible to non-lawyers or tax people is my favorite part of the job,” she says. “The truth is, no one wants to hear about tax, and step one is understanding that.” O’Brien recommends building relationships to educate others and highlight how tax can add value to the company’s broader strategic plans to explain why tax matters and what the solution is.
“The more you can understand where someone is coming from, the more you can bridge gaps and give information that will be helpful for them.”
Emily O’Brien
Tax attorneys or professionals that are attempting to do the same might benefit from something O’Brien learned from one of her leaders.
“If you give people the right information, they’ll usually make the right decision,” she emphasizes. “Try to keep that in mind. Another important thing is to have emotional intelligence—the more you can understand where someone is coming from, the more you can bridge gaps and give information that will be helpful for them.”
Before Vistra, O’Brien started her career as an associate at Vinson & Elkins, where she developed the foundation she’d need to thrive throughout the rest of her career.
“My early years were a learning curve. It was a lot of observing and absorbing from the people around me,” she says. “I got to see different areas of tax, different industries, and got to see what I liked. I found out that I was really drawn to the work that I did with my energy clients and knew that was where I wanted to be.”
After two years in that role, O’Brien moved in-house at Energy Future Holdings, the predecessor company of Vistra Corp. Since then, she has got to work on non-income tax, bankruptcy, M&A integrations, and more. She and her colleagues have also gotten a chance to focus on advocacy, ensuring that the company’s interests are represented in clean energy laws.
“Often times, legislators come up with bills that don’t always align with the way work gets done on the ground,” O’Brien reflects. “If you don’t get your voice out there, certain things might not work in practice.”
As a leader, O’Brien prides herself on valuing empathy and giving her teams “a lot of grace.” She not only wants them to have room to grow and make mistakes, but also wants them to have work/life flexibility. It’s a company value that’s reflected in its hybrid-work arrangement, which is particularly advantageous to legal professionals.
“The tone starts at the top. Leaders have to live the same energy they’re expecting of others.”
Emily O’Brien
“It’s the best of both worlds. It’s an opportunity to collaborate in person but to also have the time for quiet contemplation at home that so many legal jobs require,” she says.
O’Brien is proud to have helped to cultivate a positive, respectful, and collaborative work environment. That’s only possible when leaders lead by example, she says.
“The tone starts at the top. Leaders have to live the same energy they’re expecting of others,” she emphasizes. “If they encourage communication, discussion, offer a lot of grace, that leads to trust and respect and the best business results.”
She continues: “I want to make employees feel like they can bring their whole selves to work because a whole person brings so much more value.”
“At Vinson & Elkins, Emily demonstrated the intelligence and people skills that have made her such an effective leader at Vistra.”
—Wendy Salinas, Tax Partner
“It has been a privilege to watch Emily’s career growth and to work with her in supporting Vistra’s business mission.”
—David Peck, Tax Partner and Head of Tax Department
“I have worked with Emily for ten years, and I am continually impressed with Emily’s intelligent approach to solving complex tax problems. Emily is a great client to partner with—we have worked through many novel transactions together and she always makes it enjoyable and interesting. I am also admirable of Emily’s commitment to her family and the way she harmonizes her work and personal priorities.”
—Stacy Lyons, KPMG Tax Partner
