Oracle to Absorb Part of Rising Energy Costs at Point Beach Nuclear Plant — Customers Could Save About $300 Million

Oracle has agreed with We Energies to take on part of the rising cost of electricity from the Point Beach nuclear plant in Wisconsin. According to the companies’ estimate, the deal will let more than a million of the utility’s customers avoid roughly $300 million in additional costs. The agreement still needs approval from the Wisconsin Public Service Commission.

This is not an Oracle investment in building or upgrading a nuclear plant. As We Energies explains, the utility is required to buy Point Beach power under a long-term contract, and the cost of those supplies is rising. Oracle will voluntarily sign up for part of that purchase and thereby take the corresponding costs on itself.

So the widely repeated claim that Oracle will “invest $300 million in the nuclear plant” is inaccurate. The $300 million is the projected savings for We Energies customers, not the price of buying the plant or a new reactor. The parties will present the full terms of the agreement to regulators in the coming months.

Point Beach could operate into the 2050s

Point Beach is owned by NextEra Energy Resources and remains Wisconsin’s only operating nuclear plant. Its two reactors have a net capacity of about 595 MW each, or nearly 1.2 GW combined.

In September 2025, the US Nuclear Regulatory Commission extended the plant’s licenses by another 20 years: the first unit can now operate until October 2050, and the second until March 2053. According to NextEra, the plant supplies about 15% of the state’s electricity.

For Oracle, the agreement is tied to Project Lighthouse, a large data center campus in Port Washington. The company previously said it would cover the project’s energy costs in full so that the extra load would not be shifted onto other customers’ bills. Oracle estimates the campus’s potential economic impact at about $11 billion and expects to create more than 4,000 construction jobs and about 1,000 permanent positions after launch.

Why this arrangement differs from a typical data center–nuclear plant deal

Big tech companies are increasingly trying to secure long-term sources of steady electricity for their data centers. In this case, Oracle does not gain control of Point Beach and is not building a dedicated reactor for itself. The company is effectively taking on part of the financial burden of We Energies’ existing contract.

Oracle itself calls the $300 million figure approximate. Until regulators approve the agreement and its full terms are disclosed, it is better seen as a projection of future savings rather than money the company has already spent.