Oracle Proposes Paying $100 Million Over 10 Years Under Energy Service Agreement With El Paso Electric

MT newswire2026/10/13 14:25

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10:25 AM EDT, 10/13/2026 (MT Newswires) -- Oracle (ORCL) has proposed an energy service agreement with El Paso Electric to support construction of its Project Jupiter site under which it expects to pay $10 million annually for 10 years, the company said Tuesday. Under the agreement, Oracle would pay the $100 million even if its usage is below contracted levels, it said. The company also said a separate agreement includes a proposal to provide up to $55 million annually in direct credits for up to three years for El Paso Electric's New Mexico residential and small-business customers. Price: 139.28, Change: +1.89, Percent Change: +1.38

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