Oncor reports solid first quarter 2022 results

Continues to grow service territory maintains ample liquidity rate case update dallas , may 5, 2022 /prnewswire/ -- oncor electric delivery company llc ("oncor") today reported three months ended march 31, 2022 net income of $194 million compared to net income of $168 million in the three months ended march 31, 2021. oncor's $26 million quarter-over-quarter net income improvement was driven by increases in revenues from updates to base transmission and distribution rates to reflect increases in invested capital, higher customer consumption and customer growth, partially offset by increases in costs associated with additional investments (primarily depreciation, property taxes and borrowing costs) and increases in operation and maintenance expense.
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