Filing Flows › Industries › Electric Services › Capital spending and supply chain
Electric Services: capital spending and supply chain
SIC 4911 · 41 companies with filed cash-flow statements
Analysis
41 companies in Electric Services (SIC 4911) spent $97.7B on capital projects over their latest twelve months, 136% of the $71.9B their operations generated; the three largest spenders — SO, AEP, Oncor Electric Delivery Co LLC — account for 32%.
Capital spending is 25.3% of the industry's $385.8B of annual revenue.
By the industry's asset mix most of it goes to structures (56%); about $18.2B is imported.
The largest supplier of that spending is power and communication structures ($50.8B).
Its largest supplying industries, by the input-output tables: imports ($11.9B), employment services ($10.7B), petroleum refineries ($8.5B).
Charts
Capital spending by company
| Company | Capital spending | Operating cash flow | Capex / OCF | Period |
|---|---|---|---|---|
| SO Southern | $13.2B | $9.8B | 135% | TTM to Q1 2026 |
| AEP American Electric Power | $9.2B | $7.0B | 131% | TTM to Q1 2026 |
| Oncor Electric Delivery Co LLC | $8.5B | $3.2B | 268% | TTM to Q3 2026 |
| ETR Entergy | $8.3B | $5.4B | 152% | TTM to Q1 2026 |
| EIX Edison International | $7.1B | $7.0B | 102% | TTM to Q3 2026 |
| CNP CenterPoint Energy | $5.7B | $2.8B | 200% | TTM to Q3 2026 |
| FE Firstenergy | $5.0B | $3.2B | 154% | TTM to Q1 2026 |
| PPL PPL | $4.7B | $2.6B | 180% | TTM to Q3 2026 |
| CEG Constellation Energy | $3.9B | $4.2B | 93% | TTM to Q2 2026 |
| TVE Tennessee Valley Authority | $3.9B | $3.1B | 124% | TTM to Q3 FY26 |
| WELPP Wisconsin Electric Power | $3.0B | $1.5B | 206% | TTM to Q3 2026 |
| VST Vistra | $2.9B | $5.1B | 56% | TTM to Q2 2026 |
| PNW Pinnacle West Capital | $2.8B | $1.8B | 151% | TTM to Q3 2026 |
| Tampa Electric | $1.7B | $1.3B | 126% | TTM to Q3 2026 |
| FirstEnergy Transmission, LLC | $1.5B | $1.1B | 137% | TTM to Q3 2026 |
| IDA Idacorp | $1.5B | $516M | 297% | TTM to Q3 2026 |
| ITC Holdings | $1.5B | $1.0B | 149% | TTM to Q3 2026 |
| POR Portland General Electric | $1.4B | $959M | 143% | TTM to Q3 2026 |
| NRG NRG Energy | $1.2B | $1.6B | 78% | TTM to Q2 2026 |
| TXNM Txnm Energy | $1.2B | $596M | 196% | TTM to Q1 2026 |
| Oglethorpe Power | $1.1B | $449M | 251% | TTM to Q2 2026 |
| OGE OGE Energy | $1.1B | $1.3B | 84% | TTM to Q3 2026 |
| BKH Black Hills | $1.0B | $711M | 144% | TTM to Q3 2026 |
| Ipalco Enterprises | $931M | $828M | 112% | TTM to Q3 2026 |
| XIFR Xplr Infrastructure, LP | $784M | $593M | 132% | TTM to Q3 2026 |
| Tucson Electric Power | $590M | $683M | 86% | TTM to Q3 2026 |
| ORA Ormat Technologies | $570M | $334M | 171% | TTM to Q3 2026 |
| OTTR Otter Tail | $526M | $405M | 130% | TTM to Q3 2026 |
| HE Hawaiian Electric Industries | $485M | −$125M | — | TTM to Q3 2026 |
| Greenbacker Renewable Energy Co LLC | $396M | $46.2M | 857% | TTM to Q2 2026 |
| TLN Talen Energy | $374M | $770M | 49% | TTM to Q3 2026 |
| Cleco Corporate Holdings LLC | $353M | $282M | 125% | TTM to Q1 2026 |
| CWEN Clearway Energy | $346M | $1.0B | 34% | TTM to Q2 2026 |
| Clearway Energy LLC | $346M | $732M | 47% | TTM to Q2 2026 |
| OKLO Oklo | $308M | −$144M | — | TTM to Q3 2026 |
| Tri-State Generation & Transmission Association | $258M | $271M | 95% | TTM to Q3 2026 |
| Old Dominion Electric Cooperative | $141M | −$8.3M | — | TTM to Q2 2026 |
| HNRG Hallador Energy | $78.4M | $28.0M | 280% | TTM to Q2 2026 |
| NNE Nano Nuclear Energy | $14.5M | −$23.6M | — | TTM to Q3 FY26 |
| OPTT Ocean Power Technologies | $2.7M | −$25.4M | — | TTM to Q1 FY27 |
| SPRU Spruce Power Holding | $37K | $2.0M | 2% | TTM to Q2 2026 |
Customers and suppliers named in annual reports
| Supplier | Customer | Share of supplier revenue | Evidence | Source |
|---|---|---|---|---|
| AEP Texas Inc. | NRG Energy and Vistra Corp | 38% | Stated in 10-K (XBRL) | filing |
| Oncor Electric Delivery Co LLC | NRG | 25% | Stated in 10-K (sentence) | filing |
| ETR | EMP | 10% | Stated in 10-K (customer table) | filing |
| ETR | ETI-P | 10% | Stated in 10-K (customer table) | filing |
| ETR | ELC | 9% | Stated in 10-K (customer table) | filing |
| ETR | EAI | 9% | Stated in 10-K (customer table) | filing |
| ETR | ENJ | 9% | Stated in 10-K (customer table) | filing |
| Tri-State Generation & Transmission Association, Inc. | United Power, Inc | 24% | Stated in 10-K (XBRL) | filing |
| ITC Holdings Corp. | CMS-PB | 22% | Stated in 10-K (sentence) | filing |
| CWEN | PCG | 26% | Stated in 10-K (sentence) | filing |
| Clearway Energy LLC | PCG | 26% | Stated in 10-K (sentence) | filing |
| Hawaiian Electric Co Inc | U.S. government | 11% | Stated in 10-K (sentence) | filing |
| HE | U.S. government | 11% | Stated in 10-K (sentence) | filing |
| XIFR | SCE-PM | 15% | Stated in 10-K (XBRL) | filing |
| XIFR | PCG-PA | 14% | Stated in 10-K (XBRL) | filing |
| EAI | ETR | — | Stated in 10-K (named, share not stated) | filing |
| DTE | NFG | — | Stated in 10-K (named, share not stated) | filing |
| ARLP | AEP | — | Stated in 10-K (10% or more of revenue) | filing |
| ETI-P | ETR | — | Stated in 10-K (named, share not stated) | filing |
| BKH | NWE | — | Stated in 10-K (named, share not stated) | filing |
The interactive money flow: switch views, follow each dollar →
Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.