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

by Arcelia Martin, Dallas Morning News | Source: Dallas Morning News | Posted 05/05/2023

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53601

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03/09/23 - PUCT - Open Meeting

04/06/23 - PUCT - Open Meeting

Keyword Tags: Oncor rate increase distribution system PUCT Ed Hirs infrastructure

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

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The largest energy delivery company in the state, Oncor, has revealed its plan to invest $19 billion over the next four years in infrastructure and system reliability after receiving approval to raise rates from the Public Utility Commission. The capital expenditures are aimed at addressing the increasing energy demand in Texas, especially during the summer months, due to the region's population growth and the need for a more robust energy grid.

Oncor's 13 million users in North, West, and Central Texas will bear the financial burden of this investment, with the company estimating a 3% overall increase in bills for the typical residential customer. The spending plan includes building new transmission lines in growing areas such as Prosper and upgrading existing infrastructure to meet the state's economic and population growth. Despite the rate hikes, industry experts like Ed Hirs view the cost increase as minimal compared to the benefits of ensuring a reliable and efficient electricity supply for Texas residents.

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Source Link: https://www.dallasnews.com/business/2023/05/05/oncor-raising-rates-spending-19-billion-on-infrastructure/

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

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