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Oncor Electric Delivery Company reported a net income of $225 million for the first quarter of 2024, a $122 million increase from the same period in 2023. This growth was driven by higher revenues due to various factors, including updated rates, customer growth, and investments in system resiliency. The company filed a System Resiliency Plan (SRP) for approval with the Public Utility Commission of Texas, outlining investments of $2.9 billion in capital and $520 million in operation and maintenance expenses over three years. The SRP focuses on enhancing transmission and distribution system resiliency, cybersecurity, vegetation management, and wildfire mitigation. Operational highlights include a focus on safety, reliability, and continued growth in Texas. Oncor's available liquidity stands at $2.1 billion as of May 6, 2024.
Sempra reported first-quarter 2024 earnings of $801 million or $1.26 per diluted share, compared to $969 million or $1.53 per diluted share in 2023. Adjusted earnings were $854 million or $1.34 per diluted share, down from $922 million or $1.46 in 2023. The company remains focused on infrastructure-centered strategies to meet evolving energy needs, with investments in renewables, electric vehicles, and digital infrastructure. Sempra California is driving innovation in clean energy, including hydrogen blending projects, while Sempra Texas is investing in system resiliency with a $3 billion plan. Sempra Infrastructure is progressing on LNG and wind projects, aiming for operational excellence.
SoCalGas has been awarded the ENERGY STAR Partner of the Year award by the U.S. Environmental Protection Agency for the second year in a row. The utility was recognized for its dedication to energy efficiency, saving customers money, conserving energy, and transitioning to a net-zero emissions future. Through its programs, SoCalGas has saved customers millions of dollars, reduced greenhouse gas emissions, and helped households and businesses improve their energy efficiency.
