- Oncor Electric Delivery reported Q1 2025 net income of $181 million, down from $225 million in Q1 2024.
- The company added nearly 19,000 new premises and upgraded 800 circuit miles of transmission lines.
- The Public Utility Commission of Texas approved a $15 billion transmission project, with Oncor covering more than half.
Oncor Electric Delivery Company LLC reported a net income of $181 million for the first quarter of 2025, a decline from $225 million in the same period of 2024. This 19.6% decrease is attributed mainly to higher interest and depreciation expenses due to increased capital investments and rising operational costs. Despite the dip in earnings, the company showed robust operational growth.
In Q1 2025, Oncor added approximately 19,000 new premises, aligning with their projected 2% annual organic growth rate. The company also upgraded 800 circuit miles of transmission lines, reflecting its continued commitment to infrastructure enhancement. Notably, transmission interconnection requests jumped by 35% year-over-year, spurred by Texas' economic expansion.
A major development this quarter was the approval of 765-kilovolt transmission import paths in the Permian Basin as part of the Permian Basin Reliability Plan (PBRP). The Electric Reliability Council of Texas (ERCOT) estimates the total cost of the PBRP at $15 billion. Oncor is expected to bear the responsibility for over half of this investment, marking a significant capital commitment beyond its initial assumptions.
Additionally, Oncor maintains a strong liquidity position with approximately $3.8 billion available as of May 7, 2025. This liquidity, along with ongoing capital and operational strategies, positions Oncor well to support its substantial $7.1 billion capital plan for 2025 amidst Texas' growing energy demands.
