ONCOR REPORTS THIRD QUARTER 2026 RESULTS

Higher regulated revenues lifted earnings as Oncor continued its approximately $9.0 billion capital investment plan for 2026.

Rhea-AI Summary

Oncor, indirectly majority-owned by Sempra (SRE), reported third-quarter 2026 net income of $572 million, up from a year earlier. Net income was $380 million in third-quarter 2025; revenue rose to $2,296 million from $1,845 million. Oncor attributed earnings growth to higher regulated revenues, updated rates, consumption and customer growth. Nine-month net income reached $1,212 million versus $820 million, while operating cash flow increased to $2,239 million from $1,411 million.

Oncor deployed approximately $6.3 billion of capital through September and remains on plan for approximately $9.0 billion in 2026. It projects an approximately 20% increase in its 2027–2031 base capital plan, with final details expected in first-quarter 2027. Batch Zero large-load projects remain outside the current base plan pending further study. Available liquidity totaled approximately $3.7 billion on November 4, 2026.

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0 major · 13 points

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Positive

• Moderate pointThird-quarter net income increased to $572 million from $380 million in 2025.
• Moderate pointThird-quarter operating revenue rose to $2,296 million from $1,845 million in 2025.
• Moderate pointThird-quarter operating income increased to $794 million from $552 million in 2025.
• Moderate pointNine-month operating cash flow rose to $2,239 million from $1,411 million in 2025.
• Moderate pointNew base rates effective June 1, 2026 contributed to third-quarter earnings growth.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Capital deployment reached approximately $6.3 billion through September; Oncor remains on plan for approximately $9.0 billion in 2026. 12% of market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.The 2027–2031 base capital plan is projected to increase approximately 20%; final announcement is expected first-quarter 2027.
• Moderate pointOncor's system peak reached 33.3 GW in August 2026, versus its prior 31.4 GW peak in 2025.

16 minor points

• Minor pointNine-month net income increased to $1,212 million from $820 million in 2025.
• Minor pointNine-month operating revenue increased to $6,082 million from $5,047 million in 2025.
• Minor pointNine-month operating income increased to $1,818 million from $1,336 million in 2025.
• Minor pointGrid work built, rebuilt or upgraded more than 700 circuit miles during third-quarter 2026.
• Minor pointActive transmission connection requests increased 10% year over year.
• Minor pointThird-quarter transmission investment totaled $1.3 billion for reliability, capacity expansion and customer connections.
• Minor point. Forward-looking: it has not happened yet and may not happen.DFW Airport connection work supports 18 megawatts of expected new demand from terminal expansions.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fort Worth hospital connection construction is underway to provide two-way feed service.
• Minor pointTransmission approvals cover eight applications filed this year and five filed in previous years.
• Minor pointPermian Basin Import Path 1 received August 28, 2026 approval for two transmission projects.
• Minor pointWildfire Mitigation Plan received PUCT Staff's recommendation for approval during the third quarter.
• Minor pointAvailable liquidity totaled approximately $3.7 billion as of November 4, 2026.
• Minor pointMember capital contributions increased to $2,611 million from $1,857 million over the first nine months.
• Minor pointNine-month debt repayments included $1,400 million under the term loan credit agreement.
• Minor pointAccounts-receivable facility repayments totaled $850 million; repayments under the $500 million credit facility totaled $480 million.
• Minor pointSenior secured note repayments totaled $238 million during the first nine months of 2026.

Negative

• Moderate pointThird-quarter operating expenses increased to $1,502 million from $1,293 million in 2025.
• Moderate pointThird-quarter interest expense and related charges rose to $261 million from $201 million in 2025.
• Moderate pointNine-month senior secured note issuances added debt, with proceeds of $3,930 million. 7.2% of market cap
• Moderate pointNine-month junior subordinated unsecured note issuances added debt, with proceeds of $986 million. 1.8% of market cap
• Moderate pointTerm loan borrowings added $475 million during the first nine months.
• Moderate pointAccounts-receivable facility borrowings added $525 million during the first nine months.

7 minor points

• Minor pointNine-month operating expenses increased to $4,264 million from $3,711 million in 2025.
• Minor pointNine-month interest expense and related charges rose to $724 million from $578 million in 2025.
• Minor pointPermian Basin Import Path 1 approval remains subject to filed rehearing motions and appeals.
• Minor pointPermian Basin Import Path 2 transmission projects are awaiting a regulatory decision.
• Minor pointBatch Zero load classifications remain conditional pending an ERCOT audit expected in December 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.Batch Zero's final transmission plan is not expected until fall 2027; projects remain outside the current base capital plan.
• Minor point. Forward-looking: it has not happened yet and may not happen.Wildfire Mitigation Plan awaits a final PUCT decision, which Oncor expects in fourth-quarter 2026.

News Explained

Two billion dollars of Batch Zero collateral is intended to limit ratepayer exposure if customers cancel after Oncor has spent on infrastructure.

Oncor reports that ERCOT conditionally classified approximately 24 GW of Batch Zero load as base load, including 10 GW already energized, and 21 GW as studied load where Oncor is the transmission service provider; an audit of customer qualifications and community impacts is expected in December 2026.

Batch Zero remains an ongoing study and its projects remain outside Oncor's current base capital plan; a final transmission plan is not expected until fall 2027. Oncor holds approximately $2.0 billion in Batch Zero customer collateral, part of approximately $6.0 billion in total customer collateral, intended to reduce ratepayer risk if projects are canceled after Oncor has spent on infrastructure.

The PUCT approved Oncor's two Import Path 1 765 kV project applications on August 28, 2026, but the orders are subject to rehearing motions filed by various parties and to appeals; decisions on the two Import Path 2 projects are pending. PUCT Staff recommended approval of Oncor's wildfire mitigation plan during the third quarter; the plan sets operational protocols for wildfire risks, and a final PUCT decision is expected in the fourth quarter.

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DALLAS, Nov. 5, 2026 /PRNewswire/ -- Oncor Electric Delivery Company LLC ("Oncor") today reported net income of $572 million for the three months ended September 30, 2026, compared to net income of $380 million in the three months ended September 30, 2025. The increase in net income of $192 million was driven by overall higher revenues primarily attributable to higher revenues due to new base rates that went into effect on June 1, 2026, an increase in other regulated revenues recognized related to the Unified Tracker Mechanism ("UTM") and the System Resiliency Plan ("SRP"), higher customer consumption, primarily attributable to warmer weather, revenues recognized in connection with the surcharge filed pursuant to Oncor's comprehensive base rate review, and customer growth. Financial and operational results are provided in Tables A, B, C, D, and E below.

"Texas' continued economic growth depends on having the electric infrastructure in place to reliably serve its communities and businesses," said Oncor CEO Allen Nye. "I want to thank the Oncor team for their continued commitment to safely and reliably serving our customers and for the important work underway to help strengthen the grid for Texas' future. We look forward to working with lawmakers, regulators, landowners, and other stakeholders across Texas to advance the infrastructure needed to meet the state's growing energy needs."

Oncor also reported net income of $1,212 million for the nine months ended September 30, 2026, compared to net income of $820 million in the nine months ended September 30, 2025. The increase in net income of $392 million was driven by overall higher revenues primarily attributable to an increase in other regulated revenues recognized related to the UTM and the SRP, higher revenues due to updated rates, revenues recognized in connection with the surcharge filed pursuant to Oncor's comprehensive base rate review, higher customer consumption, primarily attributable to warmer weather, and customer growth.

Operational Highlights
Through the first nine months of 2026, Oncor deployed approximately $6.3 billion of capital and remains on plan to execute approximately $9.0 billion of capital investment in 2026, the largest annual capital plan in company history. In the third quarter of 2026, Oncor built, rebuilt, or upgraded more than 700 circuit miles of transmission and distribution lines and increased its premise count by approximately 14,400, reflecting ongoing population and business growth in Texas. Active transmission point-of-interconnection ("POI") requests increased 10% year over year. As of September 30, 2026, Oncor held approximately $6.0 billion in customer collateral for active generation and Large Commercial and Industrial ("LC&I") transmission POI requests. This collateral is intended to reduce the risk of rate payers bearing costs for projects that are cancelled after Oncor has expended funds toward building the infrastructure.

As of September 30, 2026, Oncor had 504 active generation POI requests in queue, composed of approximately 45% storage, 40% solar, 8% wind, and 7% gas. In addition, Oncor's active transmission LC&I interconnection queue included 795 requests at the end of the third quarter of 2026. Those requests included approximately 293 gigawatts from data centers and approximately 19 gigawatts of load from various other industrial sectors including 4 gigawatts of crypto-mining facilities, demonstrating broad-based industrial growth within Oncor's service territory.

On July 22, 2026, the Electric Reliability Council of Texas, Inc. ("ERCOT") set a new all-time peak demand record of 91.1 gigawatts ("GW"). Also, Oncor reached a new record peak of 33.3 GW on its system on August 24, 2026, an increase from Oncor's prior system peak of 31.4 GW set in 2025, reflecting continued load growth across its footprint.

During the quarter, Oncor's transmission investment totaled $1.3 billion to meet reliability requirements, expand transmission system capacity, and provide POIs for large transmission retail customers and third-party merchant generation sources. As part of that investment, Oncor advanced multiple projects that continue to support West Texas oil and gas electrification. In addition, Oncor made progress connecting new customers across its service territory, including projects supporting regional economic growth in the Dallas-Fort Worth ("DFW") metropolitan area. Work continues on a project to support 18 megawatts of expected new demand load related to terminal expansions at DFW Airport, helping to accommodate continued growth in one of the region's most important transportation hubs. Construction is also underway to provide two-way feed service to hospitals within the Fort Worth Medical Innovation District.

Oncor expects growth and economic expansion to continue across its service territory. Oncor currently projects its 2027 through 2031 base capital plan to increase by approximately 20%, driven by continued growth, customer demand, and infrastructure investments necessary to reliably serve the ERCOT market. Oncor expects to finalize and announce its final 2027 through 2031 capital plan in the first quarter of 2027.

Regulatory Update
During the third quarter, Oncor continued to achieve significant regulatory milestones associated with the transmission infrastructure necessary to support the continued growth and reliability of the ERCOT market. Oncor has filed 16 new Certificate of Convenience and Necessity ("CCN") applications for needed transmission projects this year, eight of which have already been approved. An additional five CCNs filed in previous years have received approvals this year. Of the 16 applications filed this year, four were for 138 kV transmission lines, nine were for 345 kV transmission lines, and three were for 765 kV transmission lines.

On August 28, 2026, the Public Utility Commission of Texas ("PUCT") approved Oncor's CCN applications for the Drill Hole Switch to Longshore Switch and Longshore Switch to Dinosaur Switch 765 kV transmission projects, which together comprise Import Path 1 of the Permian Basin Reliability Plan ("PBRP"). As these projects advance, Oncor will continue to engage constructively with landowners and communities throughout the routing adjustment, land acquisition, and construction phases. The PUCT order approving the CCN applications is subject to motions for rehearing, which have been filed by various parties, and appeals. Oncor is currently awaiting a decision for the Big Hill to Sand Lake and Big Hill to Bell County East 765 kV transmission projects comprising Import Path 2 of the PBRP, which are to be constructed by Oncor and another utility.

Oncor has also received conditional classification from ERCOT of customer loads submitted as part of ERCOT's Batch Zero process; approximately 24 GW of large load has been classified as base load including 10 GW of already energized load, and 21 GW has been classified as studied load where Oncor is the transmission service provider. The classification is conditional pending the results of an ERCOT audit of customer qualifications and community impacts, which is expected in December 2026. Oncor holds approximately $2.0 billion of large load customer collateral related to the Batch Zero projects, which is part of the approximately $6.0 billion of customer collateral mentioned above. Batch Zero remains an ongoing study and final load classifications are subject to change. A final transmission plan reflecting the results of Batch Zero is not expected until fall of 2027. As a result, Batch Zero projects remain outside of Oncor's current base capital plan.

During the third quarter, the PUCT Staff recommended approval of Oncor's Wildfire Mitigation Plan pursuant to the framework established by House Bill 145. The plan builds upon Oncor's existing wildfire mitigation efforts and establishes operational protocols for use across Oncor's system when wildfire risks are present, including inspections, vegetation management, de-energization and restoration procedures, and community outreach and public awareness plans. Oncor expects a final decision by the PUCT on its plan in the fourth quarter.

Liquidity Update
As of November 4, 2026, Oncor's available liquidity totaled approximately $3.7 billion, consisting of cash on hand and available borrowing capacity under its credit facilities, commercial paper program, and accounts receivable facility. Oncor anticipates these resources, combined with projected cash flows from operations and future financing activities, will be sufficient to meet capital expenditures, maturities of long-term debt, and other operational needs for at least the next twelve months.

Sempra Internet Broadcast Today
Sempra (NYSE: SRE) will broadcast a live discussion of its earnings results over the Internet today at 12 p.m. ET, which will include discussion of third quarter 2026 results and other information relating to Oncor. Oncor executives will also participate in the broadcast. Access to the broadcast is available by logging onto the Investors section of Sempra's website, sempra.com/investors. Prior to the conference call, an accompanying slide presentation will be posted on sempra.com/investors. For those unable to participate during the live webcast, a replay will be available a few hours after its conclusion at sempra.com/investors.

Quarterly Report on Form 10-Q
Oncor's Quarterly Report on Form 10-Q for the period ended September 30, 2026 will be filed with the U.S. Securities and Exchange Commission after Sempra's conference call and once filed, will be available on Oncor's website, oncor.com.

About Oncor
Headquartered in Dallas, Oncor is a regulated electricity transmission and distribution business that uses superior asset management skills to provide reliable electricity delivery to consumers. Oncor (together with its subsidiaries) operates the largest transmission and distribution system in Texas, delivering electricity to more than 4.1 million homes and businesses and operating more than 145,000 circuit miles of transmission and distribution lines in Texas. While Oncor is owned by two investors (indirect majority owner, Sempra, and minority owner, Texas Transmission Investment LLC), Oncor is managed by its Board of Directors, which is comprised of a majority of disinterested directors.

Oncor Electric Delivery Company LLC
Table A – Condensed Statements of Consolidated Income (Unaudited)
		Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
		(U.S. dollars in millions)
Operating revenues		$	2,296		$	1,845		$	6,082		$	5,047
Operating expenses:
Wholesale transmission service			388			374			1,159			1,094
Operation and maintenance			464			385			1,322			1,123
Depreciation and amortization			356			300			1,036			877
Provision in lieu of income taxes			132			80			271			174
Taxes other than amounts related to income taxes			162			154			476			443
Total operating expenses			1,502			1,293			4,264			3,711
Operating income			794			552			1,818			1,336
Other (income) and deductions – net			(47)			(29)			(127)			(61)
Non-operating provision (benefit) in lieu of income taxes			8			-			9			(1)
Interest expense and related charges			261			201			724			578
Net income		$	572		$	380		$	1,212		$	820

 

Oncor Electric Delivery Company LLC
Table B – Condensed Statements of Consolidated Cash Flows (Unaudited)
		Nine Months Ended September 30,
		2026			2025
		(U.S. dollars in millions)
Cash flows – operating activities:
Net income		$	1,212		$	820
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization, including regulatory amortization			1,209			1,002
Provision in lieu of deferred income taxes – net			251			166
Changes in operating assets and liabilities:
Accounts receivable – net			(474)			(200)
Materials and supplies inventories			(372)			(143)
Accounts payable – trade			33			5
Regulatory assets – recoverable SRP			(175)			(111)
Regulatory assets – recoverable UTM			(339)			(55)
Regulatory assets – self-insurance reserve costs incurred			(70)			(165)
Regulatory under/over recoveries – net			152			110
Customer deposits			693			53
Pension and OPEB Plans			(41)			(144)
Accrued interest			103			120
Other – assets			(72)			(127)
Other – liabilities			129			80
Cash provided by operating activities			2,239			1,411
Cash flows – financing activities:
Issuances of senior secured notes			3,930			3,466
Repayments of senior secured notes			(238)			(350)
Issuances of junior subordinated unsecured notes			986			-
Borrowings under term loan credit agreement			475			-
Repayments under term loan credit agreement			(1,400)			-
Borrowings under AR Facility			525			510
Repayments under AR Facility			(850)			(510)
Repayments under $500M Credit Facility (Note 5)			(480)			-
Payment for senior secured notes extinguishment			-			(441)
Net change in short-term borrowings			-			(594)
Capital contributions from members			2,611			1,857
Distributions to members			(857)			(573)
Debt discount, premium, financing and reacquisition costs – net			(50)			(42)
Cash provided by financing activities			4,652			3,323
Cash flows – investing activities:
Capital expenditures			(6,276)			(4,547)
Sales and use tax audit settlement refund			17			-
Other – net			64			32
Cash used in investing activities			(6,195)			(4,515)
Net change in cash, cash equivalents and restricted cash			696			219
Cash, cash equivalents and restricted cash – beginning balance			719			262
Cash, cash equivalents and restricted cash – ending balance		$	1,415		$	481

 

Oncor Electric Delivery Company LLC
Table C – Condensed Consolidated Balance Sheets (Unaudited)
		At September 30,			At December 31,
		2026			2025
		(U.S. dollars in millions)
ASSETS
Current assets:
Cash and cash equivalents		$	77		$	87
Restricted cash, current			1,077			11
Accounts receivable – net			1,530			1,048
Amounts receivable from members related to income taxes			5			48
Materials and supplies inventories – at average cost			1,063			690
Prepayments and other current assets			152			140
Total current assets			3,904			2,024
Restricted cash, noncurrent			261			621
Investments and other property			219			203
Property, plant and equipment – net			43,185			37,834
Goodwill			4,740			4,740
Regulatory assets			2,425			2,049
Right-of-use operating lease assets			306			265
Other noncurrent assets			253			59
Total assets		$	55,293		$	47,795
LIABILITIES AND MEMBERSHIP INTERESTS
Current liabilities:
Accounts payable – trade		$	1,482		$	1,332
Amounts payable to members related to income taxes			26			31
Accrued taxes other than amounts related to income			288			296
Accrued interest			319			216
Operating lease and other current liabilities			1,477			409
Total current liabilities			3,592			2,284
Long-term debt, noncurrent			21,854			19,043
Liability in lieu of deferred income taxes			3,223			2,841
Regulatory liabilities			3,138			3,034
Employee benefit plan obligations			1,263			1,275
Operating lease obligations			271			239
Other noncurrent obligations			389			711
Total liabilities			33,730			29,427
Commitments and contingencies
Membership interests:
Capital account – number of units outstanding at September 30, 2026 and December 31, 2025 – 635,000,000			21,562			18,596
Accumulated other comprehensive income (loss)			1			(228)
Total membership interests			21,563			18,368
Total liabilities and membership interests		$	55,293		$	47,795

 

Oncor Electric Delivery Company LLC
Table D – Operating Statistics
Mixed Measures
		Twelve Months Ended September 30,				%
		2026		2025		Change
Reliability statistics (a):
System Average Interruption Duration Index (SAIDI) (non-storm)		82.9		82.2		0.9
System Average Interruption Frequency Index (SAIFI) (non-storm)		1.2		1.2		0.0
Customer Average Interruption Duration Index (CAIDI) (non-storm)		66.9		70.8		(5.5)
Electricity points of delivery (end of period and in thousands):
Electricity distribution points of delivery (based on number of active meters)		4,155		4,100		1.3

 

		Three Months Ended September 30,				Increase		Nine Months Ended September 30,				Increase
		2026		2025		(Decrease)		2026		2025		(Decrease)
Residential system weighted weather data (b):
Cooling degree days		1,558		1,112		446		2,247		1,710		537
Heating degree days		-		-		-		360		589		(229)
		Three Months Ended September 30,				%		Nine Months Ended September 30,				%
		2026		2025		Change		2026		2025		Change
Operating statistics:
Electric energy volumes (gigawatt-hours)
Residential		17,977		15,034		19.6		39,604		37,567		5.4
Commercial, industrial, small business and other		37,229		35,727		4.2		100,386		94,426		6.3
Total electric energy volumes		55,206		50,761		8.8		139,990		131,993		6.1

____________________
(a)	SAIDI is the average number of minutes electric service is interrupted per consumer in a twelve-month period. SAIFI is the average number of electric service interruptions per consumer in a twelve-month period. CAIDI is the average duration in minutes per electric service interruption in a twelve-month period. In each case, Oncor's non-storm reliability performance reflects electric service interruptions of one minute or more per customer. Each of these results excludes outages during significant storm events.
(b)	Degree days are measures of how warm or cold it is throughout Oncor's service territory. A degree day compares the average of the hourly outdoor temperatures during each day to a 65° Fahrenheit standard temperature. The more extreme the outside temperature, the higher the number of degree days. A high number of degree days generally results in higher levels of energy use for space cooling or heating.

 

Oncor Electric Delivery Company LLC
Table E – Operating Revenues
		Three Months Ended September 30,						$			Nine Months Ended September 30,						$
		2026			2025			Change			2026			2025			Change
		(U.S. dollars in millions)
Operating revenues
Revenues contributing to earnings:
Revenues from contracts with customers
Distribution base revenues
Residential (a)(b)		$	694		$	508		$	186		$	1,554		$	1,270		$	284
LC&I (a)(c)			442			375			67			1,237			1,042			195
Other (a)(d)			43			34			9			119			96			23
Total distribution base revenues (e)			1,179			917			262			2,910			2,408			502
Transmission base revenues (TCOS revenues)
Third-party wholesale customers (a)			298			279			19			888			812			76
REPs serving Oncor distribution customers, through TCRF			169			155			14			480			450			30
Total TCOS revenues			467			434			33			1,368			1,262			106
Other miscellaneous revenues			23			24			(1)			73			72			1
Total revenues from contracts with customers			1,669			1,375			294			4,351			3,742			609
Other regulated revenues
SRP revenues (f)			69			41			28			176			111			65
UTM revenues (g)			139			36			103			339			55			284
Total other regulated revenues			208			77			131			515			166			349
Total revenues contributing to earnings			1,877			1,452			425			4,866			3,908			958
Revenues collected for pass-through expenses:
TCRF – third-party wholesale transmission service			388			374			14			1,159			1,094			65
EECRF and other revenues			31			19			12			57			45			12
Total revenues collected for pass-through expenses			419			393			26			1,216			1,139			77
Total operating revenues		$	2,296		$	1,845		$	451		$	6,082		$	5,047		$	1,035

____________________
(a)	Includes unbilled surcharge revenues recognized in the three and nine months ended September 30, 2026 as a result of the surcharge relating to Oncor's comprehensive base rate review.
(b)	Distribution base revenues from residential customers are generally based on actual monthly consumption (kWh). On a weather-normalized basis, distribution base revenues from residential customers increased 17.4% in the three months ended September 30, 2026 as compared to the three months ended September 30, 2025 and increased 17.6% in the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025.
(c)	Depending on size and annual load factor, distribution base revenues from LC&I customers are generally based either on actual monthly demand (kilowatts) or the greater of actual monthly demand (kilowatts) or 80% of peak monthly demand during the prior 11 months.
(d)	Includes distribution base revenues from small business customers whose billing is generally based on actual monthly consumption (kWh), lighting sites and other miscellaneous distribution base revenues.
(e)	The 28.6% increase in distribution base revenues in the three months ended September 30, 2026 as compared to the three months ended September 30, 2025 (17.7% increase on a weather-normalized basis) was primarily due to the distribution component in new base rates implemented June 1, 2026, an increase due to higher customer consumption, primarily attributable to warmer weather, an increase due to the distribution component of revenues recognized in connection with the surcharge filed pursuant to Oncor's comprehensive base rate review, and an increase due to customer growth. The 20.8% increase in distribution base revenues in the nine months ended September 30, 2026 as compared to the nine months ended September 30, 2025 (18.3% increase on a weather-normalized basis) was primarily due to the distribution component in new base rates implemented June 1, 2026, an increase due to the distribution component of revenues recognized in connection with the surcharge filed pursuant to Oncor's comprehensive base rate review, an increase due to higher customer consumption, primarily attributable to warmer weather, an increase due to updated interim distribution cost recovery factor rates implemented to reflect increases in invested capital, and an increase due to customer growth.
(f)	Includes revenues recognized for recoverable costs associated with distribution-related SRP, including operation and maintenance expense, depreciation expense, debt carrying costs on unrecovered balances and related taxes.
(g)	Includes revenues recognized for recoverable costs associated with UTM eligible transmission and distribution capital investments, including depreciation expense, debt carrying costs on unrecovered balances and related taxes.

Forward-Looking Statements
This news release contains forward-looking statements relating to Oncor within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. All statements, other than statements of historical facts, that are included in this news release, as well as statements made in presentations, in response to questions or otherwise, that address activities, events or developments that Oncor expects or anticipates to occur in the future, including such matters as projections, capital allocation, future capital expenditures, business strategy, competitive strengths, goals, future acquisitions or dispositions, development or operation of facilities, market and industry developments and the growth of Oncor's business and operations (often, but not always, through the use of words or phrases such as "intends," "plans," "will likely result," "expects," "are expected to," "will continue," "is anticipated," "estimated," "forecast," "should," "projection," "target," "goal," "objective" and "outlook"), are forward-looking statements. Although Oncor believes that in making any such forward-looking statement its expectations are based on reasonable assumptions, any such forward-looking statement involves risks, uncertainties and assumptions. Factors that could cause Oncor's actual results to differ materially from those projected in such forward-looking statements include: legislation, governmental policies and orders, and regulatory actions; legal and administrative proceedings and settlements, including the exercise of equitable powers by courts; ERCOT protocols, rules, policies, regulations, guidelines, directives, processes, endorsements, approvals, restrictions, and orders applicable to Oncor's business, including relating to transmission or distribution projects and any changes to expected projects;  weather conditions and other natural phenomena, including severe weather events, natural disasters or wildfires; cyber-attacks on Oncor or Oncor's third-party vendors; changes in expected ERCOT and service territory growth; changes in, or cancellations of, anticipated projects, including customer requested interconnection projects; physical attacks on Oncor's system, acts of sabotage, wars, terrorist activities, wildfires, fires, explosions, natural disasters, hazards customary to the industry, or other emergency events; Oncor's ability to obtain adequate insurance on reasonable terms and the possibility that it may not have adequate insurance to cover all losses incurred by Oncor or third-party liabilities; adverse actions by credit rating agencies; health epidemics and pandemics, including their impact on Oncor's business and the economy in general; interrupted or degraded service on key technology platforms, facilities failures, or equipment interruptions; economic conditions, including the impact of a recessionary environment, inflation, foreign policy, industrial strain, and global trade restrictions; supply chain disruptions, including as a result of tariffs, war, volatile commodity prices, manufacturing and shipping shortages, global trade disruptions, competition for goods and services, and service provider availability; unanticipated changes in electricity demand in ERCOT or Oncor's service territory; ERCOT grid needs and ERCOT market conditions, including insufficient electricity generation within the ERCOT market or disruptions at power generation facilities that supply power within the ERCOT market; changes in business strategy, development plans or vendor relationships; changes in interest rates, foreign currency exchange rates, or rates of inflation; significant changes in operating expenses, liquidity needs and/or capital expenditures; inability of various counterparties to meet their financial and other obligations to Oncor, including failure of counterparties to timely perform under agreements; general industry and ERCOT trends; significant decreases in demand or consumption of electricity delivered by Oncor, including as a result of increased consumer use of third-party distributed energy resources or other technologies; changes in technology used by and services offered by Oncor; changes in employee and contractor labor availability and cost; significant changes in Oncor's relationship with its employees, and the potential adverse effects if labor disputes or grievances were to occur; changes in assumptions used to estimate costs of providing employee benefits, including pension and other postretirement employee benefits, and future funding requirements related thereto; significant changes in accounting policies or critical accounting estimates material to Oncor; commercial bank and financial market conditions, macroeconomic conditions, access to capital, the cost of such capital, and the results of financing and refinancing efforts, including availability of funds and the potential impact of any disruptions in U.S. or foreign capital and credit markets; financial market volatility and the impact of volatile financial markets on investments, including investments held by Oncor's pension and other postretirement employee benefit plans; circumstances which may contribute to future impairment of goodwill, intangible or other long-lived assets; Oncor's adoption and deployment of artificial intelligence; financial and other restrictions under Oncor's debt agreements; Oncor's ability to generate sufficient cash flow to make interest payments on its debt instruments; and Oncor's ability to effectively execute its operational and financing strategy.

Further discussion of risks and uncertainties that could cause actual results to differ materially from management's current projections, forecasts, estimates and expectations is contained in filings made by Oncor with the U.S. Securities and Exchange Commission. Specifically, Oncor makes reference to the section entitled "Risk Factors" in its annual and quarterly reports. Any forward-looking statement speaks only as of the date on which it is made, and, except as may be required by law, Oncor undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for Oncor to predict all of them; nor can it assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. As such, you should not unduly rely on such forward-looking statements.

The information contained on, or that can be accessed through, any website referenced in this news release, is not, and shall not be deemed to be, part of this document.

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SOURCE Oncor Electric Delivery Company LLC

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Oncor's third-quarter 2026 earnings?

Oncor reported $572 million in net income for the three months ended September 30, 2026, compared with $380 million a year earlier. Operating revenue increased to $2,296 million from $1,845 million.

How much does Oncor plan to invest in its grid in 2026?

Oncor remains on plan to execute approximately $9.0 billion of capital investment in 2026. Through the first nine months, it deployed approximately $6.3 billion. Oncor also projects an approximately 20% increase in its 2027–2031 base capital plan, with final details expected in first-quarter 2027.

What customer collateral does Oncor hold for transmission connection projects?

Oncor held approximately $6.0 billion in customer collateral for active generation and large commercial and industrial transmission connection requests as of September 30, 2026. Oncor says this is intended to reduce ratepayers' exposure to costs from projects cancelled after infrastructure spending. The amount includes approximately $2.0 billion related to Batch Zero projects.

What large customer loads are included in Oncor's Batch Zero classifications?

ERCOT conditionally classified approximately 24 GW as base load, including 10 GW already energized, and 21 GW as studied load where Oncor is the transmission service provider. These classifications remain subject to an audit of customer qualifications and community impacts expected in December 2026, and final classifications may change.

How large is Oncor's transmission connection request queue?

Oncor had 504 active generation connection requests and 795 active large commercial and industrial transmission connection requests at September 30, 2026. The generation queue was approximately 45% storage, 40% solar, 8% wind and 7% gas. The commercial and industrial queue included approximately 293 GW from data centers and approximately 19 GW from other industrial sectors, including 4 GW of crypto-mining facilities.