Oncor reports third quarter 2022 results

Service territory growth operational highlights capital expenditure plans update base rate review update liquidity update dallas , nov. 3, 2022 /prnewswire/ -- oncor electric delivery company llc ("oncor") today reported three months ended september 30, 2022 net income of $318 million compared to net income of $258 million in the three months ended september 30, 2021. oncor's quarter-over-quarter net income improvement was driven by increases in revenues from higher customer consumption attributable primarily to significantly warmer weather in the third quarter of 2022 as compared to the third quarter of 2021, updates to base transmission and distribution rates to reflect increases in invested capital, an annual energy efficiency program performance bonus approved in the third quarter of 2022 compared to the prior year's annual energy efficiency program performance bonus being approved in the fourth quarter of 2021, and customer growth, partially offset by increases in costs associated with additional investments (primarily depreciation, property taxes and borrowing costs) and higher operation and maintenance expense.
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