The Texas Public Utility Commission today approved a rate increase for Oncor Electric Delivery, the chief electric transmission and distribution company serving North Texas.

A portion of the rate increase already took effect July 1. When fully implemented on Jan. 1, the rate hike is expected to increase the electric bill of a typical residential customer about $1.60 per month.

The rate increase, when fully implemented, will raise Oncor’s annual revenues an estimated $136.7 million, an amount far less than the approximately $350 million boost in yearly revenues the company was seeking when it filed its rate request in January.

The agreed settlement was supported by Oncor and intervenors in the rate case, including the Steering Committee of Cities Served by Oncor, a group that includes Fort Worth, Arlington and other Tarrant County cities.

–Jack Z. Smith