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Oncor hikes rates, raises spending to $19 billion on infrastructure

Posted by [email protected] on May. 6, 2023  /   0

Excerpt below is from Dallas Morning News May 5th, 2023 paper. Oncor hikes rates, raises spending to $19 billion on infrastructure (dallasnews.com)

"

The upgrades and investments are meant to make North Texas’ electricity more reliable, company said.

The state’s largest energy delivery company Oncor announced Thursday plans to spend $19 billion over the next four years, weeks after getting the green light from the Public Utility Commission to raise rates, starting on May 1.

The capital expenditures will invest in infrastructure and system reliability, a topic that remains top of mind for Texans, as the area’s oppressive summer heat ramps up and spikes in energy demand have left residents without power in the past.

Picking up the tab for this double-digit billion-dollar plan are the company’s 13 million users in North, West and Central Texas. Nearly 97% of the capital spending plans are meant to be recoverable in rates, according to the electric company."

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