In today’s briefing:
- OGE Energy’s 550 MW 2026 Expansion — Can New Load Sustain The Investment Cycle?
- ONE Gas’ $175 Million Large-Load Buildout Opens A New Growth Chapter!
- PG&E’s $73 Billion Buildout Targets A Massive California Power Demand Wave!
- Portland General Electric’s 11.2% Industrial Load Surge — Can The Momentum Continue?
- PPL Is Not Just A Utility Story — 32 GW Of Data Center Demand Changes The Scale!
OGE Energy’s 550 MW 2026 Expansion — Can New Load Sustain The Investment Cycle?
- OGE Energy Corp. reported consolidated earnings of $0.56 per diluted share for the second quarter of 2026, an increase from $0.53 per share in the same period of 2025.
- The core electric utility business contributed net income of approximately $120 million, up from $108 million year-over-year, largely driven by warmer weather conditions, and reduced depreciation and interest expenses associated with new assets.
- This positive was partially offset by increased operations and maintenance expenses.
ONE Gas’ $175 Million Large-Load Buildout Opens A New Growth Chapter!
- ONE Gas reported second quarter 2026 financial results demonstrating solid operational and financial execution amidst a warm weather environment that typically suppresses gas demand.
- Adjusted earnings per share (EPS) reached $0.82, marking a 52% increase from $0.54 in the year-ago quarter, supported by approximately $16 million in new revenues from recent rate increases and benefits derived from Texas House Bill 4384.
- On a GAAP basis, EPS grew nearly 40% year-over-year to $0.74.
PG&E’s $73 Billion Buildout Targets A Massive California Power Demand Wave!
- PG&E Corporation reported core earnings per share (EPS) of $0.40 for the second quarter and $0.83 for the first half of 2026, reflecting consistent operational execution underpinned by its lean operating system and simple, affordable model.
- The company reaffirmed its full-year 2026 core EPS guidance range of $1.64 to $1.66, representing an approximate 10% increase at the midpoint compared to 2025.
- PG&E projects continued EPS growth exceeding 9% annually from 2027 through 2030, supported by a $73 billion capital investment plan through 2030 that reportedly avoids the need for additional equity financing.
Portland General Electric’s 11.2% Industrial Load Surge — Can The Momentum Continue?
- Portland General Electric reported second-quarter 2026 GAAP net income of $68 million, or $0.59 per diluted share, and non-GAAP net income of $74 million, or $0.64 per diluted share, excluding transformation and acquisition-related expenses.
- Results were in line with expectations, supporting full-year EPS guidance of $3.33 to $3.53 and long-term earnings and dividend growth targets of 5% to 7%.
- Industrial demand remained strong, led by data centers and high-tech customers.
PPL Is Not Just A Utility Story — 32 GW Of Data Center Demand Changes The Scale!
- PPL Corporation reported second quarter 2026 ongoing earnings of $0.33 per share, showing a modest increase compared to the prior year and aligning with management’s expectations.
- The company reaffirmed its full-year 2026 ongoing earnings forecast at $1.90 to $1.98 per share, with a midpoint of $1.94, anticipating stronger earnings growth in the second half driven by recent base rate case approvals in Pennsylvania and Rhode Island.
- Capital investments remain robust, with approximately $2.3 billion deployed through the first half of the year and an expected $5 billion investment for the full year, underpinning efforts to maintain safe, reliable, and affordable energy service.
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