Oracle Plans $300 Million Commitment to Offset Point Beach Energy Costs in Wisconsin
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Yesterday
Oracle (ORCL) plans to subscribe to a portion of the power generated by Wisconsin's Point Beach Nuclear Plant, a move expected to save utility customers about $300 million in fuel costs, the company said Friday.
The commitment is intended to help shield more than 1 million Wisconsin utility customers from rising costs while supporting reliable, carbon-free baseload power, the company said.
Oracle is also covering the full energy costs for its Project Lighthouse data center in Port Washington, it added.
Oracle shares were up 2.4% in premarket activity.
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