Oracle to subscribe to Point Beach nuclear plant power

Austin, Texas - Oracle has committed to subscribing to a portion of the electricity generated by the Point Beach Nuclear Plant in Wisconsin, a move that the company claims will save utility customers around $300 million in fuel costs. This arrangement, pending approval from the Public Service Commission of Wisconsin, would enable Oracle to absorb the rising energy costs linked to the plant.

Operating for over half a century, Point Beach has consistently supplied baseload power to Wisconsin, serving more than 1 million utility customers in the state, as stated by Mahesh Thiagarajan, executive vice president of Oracle Cloud Infrastructure. By absorbing approximately $300 million in increasing energy expenses, Oracle aims to shield Wisconsin ratepayers while maintaining the reliable, carbon-free power the state relies on.

This commitment is part of Oracle's project development in Port Washington, Wisconsin, known as Project Lighthouse, which is projected to inject over $11 billion into the local economy, generate more than 4,000 construction jobs within three years, and provide 1,000 ongoing operational roles. Oracle has pledged to fully finance the energy costs for Project Lighthouse.

The decision to subscribe to the Point Beach purchase power arrangement is contingent upon regulatory approval, but Oracle has committed to collaborating with the community, local businesses, and public agencies throughout the review process.