Oncor Electric Delivery Company Reports Solid Third Quarter Results with Increased Income and Future Plans

Oncor Electric Delivery Company Reports Solid Third Quarter Results

On November 5, 2025, Oncor Electric Delivery Company LLC published its financial results for the third quarter of 2025, showcasing a net income of $380 million for the quarter ending September 30, 2025. This figure indicates a healthy increase from $324 million during the same quarter last year. Notably, Oncor’s growth in net income represents an increase of $56 million, attributed mainly to heightened revenues from updated interim rates reflecting increased invested capital, additional regulated revenues from its System Resiliency Plan (SRP), and customer growth. However, these positive trends were slightly tempered by rising interest and depreciation expenses as well as increased operational and maintenance costs.

"Oncor continues to execute on its company-record capital plan, which we expect will grow to address the pressing demands of our expanding state," remarked Oncor CEO Allen Nye. The company is in the advanced stages of finalizing its next long-term capital strategy and is planning to reveal a new five-year initiative in early 2026, projecting at least a 30% increase compared to its previous plan.

In terms of overall performance for the first three quarters of the fiscal year, Oncor recorded a net income of $820 million, which is a $20 million increase from the same period in 2024, again driven by the factors outlined previously. This year shows significant potential for further capital expenditure opportunities beyond the already ambitious multi-year plans.

Management Updates

As Oncor prepares for future ventures, noteworthy transitions within its executive roster were announced. Jim Greer, Oncor's Executive Vice President and COO, announced his intention to retire at the end of the year after 41 years of service to the company. Following his departure, Ellen Buck, currently the Vice President of Business and Operations Services since 2017, will step into the COO position effective January 1, 2026. CEO Nye expressed deep appreciation for Greer's contributions, and optimism for Buck’s leadership given her extensive experience at Oncor.

In tandem, Don Clevenger, now the Senior Vice President and CFO, has been promoted to Executive Vice President and Chief Financial Officer as of January 1, 2026.

Operational Highlights

Oncor is aggressively pushing forward with its portion of the Permian Basin Reliability Plan (PBRP) that received recent approval from the Public Utility Commission of Texas (PUCT). The company has been proactive in securing long-lead-time equipment, including large power transformers and high-voltage circuit breakers, to fulfill the project's requirements. Oncor has successfully negotiated delivery schedules to expedite project timelines, with expectation of equipment arrival by the first quarter of 2027.

Additionally, Oncor filed two Certificate of Convenience and Necessity (CCN) applications during the third quarter for needed transmission projects, building on eleven prior filings from earlier this year. Six of the previously filed projects received regulatory approval recently, highlighting Oncor’s efficiency and effectiveness in navigating the regulatory landscape, ensuring timely project advancements.

Oncor’s active development included approximately 660 circuit miles of transmission and distribution lines built, rebuilt, or upgraded in the third quarter, alongside nearly 16,000 new premises added in Texas, which supports the consistent population and business growth within the state. As a positive sign for the utility sector, requests for active transmission point-of-interconnection continued to surpass levels from the previous year.

Regulatory Record

Oncor's ongoing base rate review has also been making strides, with a settlement agreement approved in September that will allow for interim rates adjustments should the proceedings be pending by January 1, 2026. This ensures that the company can continue to maintain a solid financial foundation moving forward.

In terms of liquidity, Oncor's available resources amount to approximately $3.6 billion, carefully positioned through cash reserves, borrowing capacity, and receivable facilities, ensuring stability amidst planned capital expenditures and operational needs.

Future Outlook

Looking ahead, Oncor remains committed to its expansion and enhancement projects designed to fortify its electricity transmission and distribution reliability as Texas continues to grow. With a strategic long-term capital plan on the horizon, the company aims to proactively meet anticipated increases in demand and further strengthen Texas’s energy infrastructure. Attentive to evolving market needs and regulatory environments, Oncor is well-equipped to contribute robustly to the region's electric supply system, ensuring quality service for its customers in the years to come.