Oncor reports solid second quarter 2022 results

Service territory growth operational highlights base rate review update dallas , aug. 4, 2022 /prnewswire/ -- oncor electric delivery company llc ("oncor") today reported three months ended june 30, 2022 net income of $229 million compared to net income of $169 million in the three months ended june 30, 2021. oncor's $60 million quarter-over-quarter net income improvement was driven by increases in revenues from higher customer consumption attributable primarily to significantly warmer weather in the second quarter of 2022, updates to base transmission and distribution rates to reflect increases in invested capital, customer growth and a gain on a sale of certain non-utility property, 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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