Oncor reported net income of $428 million during the three months ending June 30 — or 65.3 percent more than the $259 million it received during the same period last year.
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Oncor Electric announced this week that it is processing 282 gigawatts of interconnection requests from AI data centers — an astonishing amount given that the current peak load on Oncor’s system is 31 gigawatts.
And even if much of that never materializes, at least 44 gigawatts of it have been submitted to ERCOT’s Batch Zero process, which the PUC and ERCOT created to accelerate the processing of interconnection requests from AI data centers.. If those Batch Zero requests get the final green light, their added energy consumption alone would represent a nearly 42 percent increase over the current peak demand handled by Oncor.
These were among the top line details of Oncor’s transmission business revealed by the Dallas-based company Aug. 5, during its regular quarterly call with financial analysts.
The Batch Zero process, which allows ERCOT to consider large numbers of interconnection requests simultaneously, has made big headlines recently — particularly after being placed temporarily on hold this week after an order by Gov. Greg Abbott because of public concerns relating to data centers. Oncor, which stands to profit greatly from serving AI load, noted in its call to financial analysts that “the timeline for Batch Zero remains to be determined.” Oncor also reported that it holds approximately $2 billion in large load customer collateral related to its Batch Zero projects.
Revenues
Separately, the company announced a dramatic rise in its quarterly revenues. Oncor said it received net income of $428 million during the three months ending June 30 — or 65.3 percent more than the $259 million it received during the same period last year. Officials attributed the dramatic rise to the Unified Tracker Mechanism rate process authorized by the Texas Legislature in 2025, as well as money influxes from its System Resiliency Plan, a recent base rate case, and interim rate proceedings.
Also driving the dramatic revenue surge is a temporary charge Oncor assessed on its customers related to its recent base rate case. The charge will allow the company to collect an additional $212 million through the end of 2026. For customers using 1,000 kilowatt hours of power monthly, the surcharge will increase bills by $3.63, according to the company.
More Details
The company also released these additional details about it quarterly financial performance during the call with investment analysts:
- Oncor reported building, re-building or upgrading 900 circuit miles of transmission and distribution lines during the most recent financial quarter. It also reported that the number of premises it serves increased by about 16,200, reflecting ongoing population and business growth in Texas.
- Active transmission point-of-interconnection requests increased 15 percent year over year. As of Aug.. 1, Oncor held about $5.9 billion in customer collateral for active generation and large commercial and industrial transmission POI requests, including the $2 billion in Batch Zero collateral referenced above.
- As of June 30, Oncor had more than 550 generation POI request in queue. This is composed of approximately 46 percent storage, 39 percent solar, 98 percent wind and 7 percent gas.
- Oncor’s active transmission large commercial and industrial queue included 737 requests, including 282 gigawatts from data centers (referenced above) and more than 62 gigawatts of load from other sectors.
- Oncor placed in service a portion of a new 356-kilovolt transmission line known as the Delaware Basin Stage 2 project. The line is intended to help relieve electricity import constraints in far west Texas.
- ERCOT in June endorsed several new transmission projects in the southern Dallas-Fort Worth area and the I-35 corridor. Together, these projects will require more than $7 billion in capital spending, with construction expected through 2034.