| ITEM 2.02 | RESULTS OF OPERATIONS AND FINANCIAL CONDITION. |
On May 7, 2024, Oncor Electric Delivery Company LLC (“Oncor”) issued a press release discussing its financial results for the three months ended March 31, 2024. The press release is furnished herewith as Exhibit 99.1.
| ITEM 7.01 | REGULATION FD DISCLOSURE. |
On May 7, 2024, Sempra, the indirect owner of a majority of Oncor’s outstanding equity interests, distributed a slide presentation containing certain information relating to Oncor. Slides containing information related to Oncor are furnished herewith as Exhibit 99.2. References in the slides to “Sempra Texas” refer to Sempra’s indirect 80.25% ownership interest in Oncor and its indirect 50% ownership interest in Sharyland Utilities, L.L.C.
The slide presentation was distributed in connection with Sempra’s discussion of its financial results for the three months ended March 31, 2024, which is being webcast live at 12 pm ET on May 7, 2024. Oncor’s Chief Executive Allen Nye will participate in the webcast. The webcast will be available on Sempra’s website at www.sempra.com. A replay of the webcast will also be available on Sempra’s website a few hours after its conclusion.
In accordance with General Instruction B.2 of Form 8-K, the information presented herein under Item 2.02 and Item 7.01 and set forth in the attached Exhibit 99.1 and Exhibit 99.2 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and is not to be incorporated by reference into any filing of Oncor under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
On May 6, 2024, Oncor filed a system resiliency plan (PUCT Docket No. 56545) with the Public Utility Commission of Texas (the “PUCT”) for PUCT approval pursuant to recently enacted Texas House Bill 2555 and related rules promulgated by the PUCT. The system resiliency plan requests approval of approximately $2.9 billion in capital expenditures and $520 million in operation and maintenance expenses over a three-year period to enhance the resiliency of Oncor’s transmission and distribution system. The three-year period will commence upon PUCT approval of the plan, but is anticipated to be for the years 2025 through 2027. The system resiliency plan proposes various measures to address certain resiliency events, including extreme weather, wildfires, physical security threats, and cybersecurity threats. The statute provides that the PUCT will review and approve, modify, or deny a filed plan within 180 days. Oncor cannot predict the outcome of the proceeding.
Forward-Looking Statements
The press release, slide presentation and this report contain 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 the press release, the slides and this report, 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,” “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; weather conditions and other natural phenomena,
