Oracle to absorb $300 million in Wisconsin nuclear energy costs

Oracle announced on October 2, 2026, a commitment to subscribe to a portion of the electricity generated by the Point Beach Nuclear Plant. The agreement is expected to save Wisconsin utility customers approximately $300 million in fuel costs and shield more than 1 million customers from rising energy bills.

The Point Beach facility has supplied baseload, carbon-free power to Wisconsin for more than 50 years. Oracle Cloud Infrastructure Executive Vice President Mahesh Thiagarajan stated that absorbing these expenses will protect local ratepayers while supporting the state's carbon-free power supply.

The power deal supports Oracle's broader Project Lighthouse data center development in Port Washington. The project is expected to generate more than $11 billion for the local economy, create over 4,000 skilled construction jobs over three years, and support 1,000 permanent operational roles. Oracle will also fully fund the energy costs of Project Lighthouse to prevent additional pressure on consumer rates.

The subscription arrangement remains subject to regulatory review and approval by the Public Service Commission of Wisconsin.