We Energies agreement with Oracle expected to save customers approximately $300 million

We Energies and Oracle announced an agreement that is expected to save customers approximately $300 million in fuel costs.

Under the agreement, Oracle will voluntarily subscribe to a portion of increasingly expensive energy that We Energies is required to purchase from the Point Beach Nuclear Plant. By taking on those costs, Oracle is protecting We Energies customers from hundreds of millions of dollars in added fuel costs.

Full details will be submitted to the Public Service Commission of Wisconsin in the coming months as part of its review of the agreement.

According to Oracle, the planned commitment builds on Oracle’s broader investment in Wisconsin through Project Lighthouse, its data center development in Port Washington. Project Lighthouse is expected to generate more than $11 billion for the local economy, create more than 4,000 skilled construction jobs over three years, support 1,000 ongoing operations positions, launch workforce development programs, and invest in local infrastructure. In addition, Oracle will fully fund Project Lighthouse’s energy costs to protect ratepayers’ electricity bills and support grid reliability. Oracle is committed to working closely with the community, local businesses, and public agencies to build responsibly in Wisconsin.