ONCOR REPORTS THIRD QUARTER 2025 RESULTS

Core Insights - Oncor Electric Delivery Company reported a net income of $380 million for Q3 2025, an increase of $56 million from $324 million in Q3 2024, driven by higher revenues from updated interim rates, regulated revenues from the System Resiliency Plan (SRP), and customer growth [1][2] - For the nine months ended September 30, 2025, Oncor's net income was $820 million, up from $800 million in the same period in 2024, reflecting similar revenue drivers [2] - The company is finalizing a new five-year capital plan for 2026-2030, expected to be at least 30% higher than the previous plan of $36.1 billion [3] Financial Performance - Operating revenues for Q3 2025 were $1.845 billion, compared to $1.660 billion in Q3 2024, marking an increase of $185 million [21] - For the nine months ended September 30, 2025, operating revenues reached $5.047 billion, up from $4.610 billion in the same period in 2024, an increase of $437 million [21] - Distribution base revenues from residential customers increased by 7.1% in Q3 2025 compared to Q3 2024, and by 8.5% for the nine-month period [25] Operational Highlights - Oncor is executing its portion of the Permian Basin Reliability Plan (PBRP) and has secured critical equipment with initial deliveries expected in Q1 2027 [6] - The company filed two new Certificate of Convenience and Necessity (CCN) amendment applications in Q3 2025, building on eleven filings from earlier in the year [6] - As of September 30, 2025, Oncor had over 600 active large commercial and industrial interconnection requests, a 60% increase from the previous year [10] Management Updates - Jim Greer, Executive Vice President and COO, will retire on December 31, 2025, with Ellen Buck appointed as his successor [4][5] - Don Clevenger has been promoted to Executive Vice President and CFO, effective January 1, 2026 [5] Regulatory and Liquidity Updates - Oncor's base rate review is progressing, with a settlement agreement approved that allows for surcharges or refunds of final approved rates if the proceeding is still pending on January 1, 2026 [11] - As of November 4, 2025, Oncor's available liquidity totaled approximately $3.6 billion, sufficient to meet capital expenditures and operational needs for at least the next twelve months [12]