Oracle Proposes Plan that could deliver at least $155M to offset customers utility costs in New Mexico
Austin, Texas—Oct 13, 2026
Oracle today announced a proposed Energy Service Agreement with El Paso Electric (EPE) for Project Jupiter to support late-stage construction, initial commissioning, emergency backup power at the site and to meet life safety needs for New Mexican workers at the data center.
As indicated earlier this year, the primary power source for Project Jupiter will continue to be provided by the Bloom Energy fuel cell microgrid. There is no change to our plan.
As part of the Energy Service Agreement, Oracle expects to pay $10 million for power annually for 10 years even if its usage is below contracted levels. This agreement helps offset shared electric system costs that would otherwise be borne by EPE’s New Mexico customers and supports affordable electric rates.
In addition, a separate agreement includes a proposal to provide as much as $55 million annually in direct credits for up to three years for EPE’s New Mexico residential and small business customers. This credit could begin benefiting customers in 2027.
“We welcome the opportunity to facilitate Oracle’s credit to further affordability for our customers,” said Kelly Tomblin, president and CEO of El Paso Electric. “Growth and investment in New Mexico has always been an EPE priority and we support the effort Oracle is making to ensure that this growth benefits our residential and small commercial customers.”
Earlier this year, Oracle signed the White House Ratepayer Protection Pledge and made a commitment to pays its own way for energy and infrastructure costs. The proposed agreements with El Paso Electric not only ensure that Oracle pays for the energy costs, but it also supports affordable rates and additional offset of energy costs for its neighbors.
“We realize the impact that electric rate increases have on the community and our proposed solution takes that burden off of New Mexico ratepayers,” said Mahesh Thiagarajan, executive vice president, Oracle Cloud Infrastructure. “We’re taking this action now — well before our data center comes online — to deliver a direct, meaningful benefit to New Mexico households and small businesses and help ensure the community shares in the value created by Project Jupiter.”
Additional information will be provided following the filing of the Energy Service Agreement.
About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
Trademarks
Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.
Forward-Looking Statements Disclaimer
Statements in this article relating to Oracle’s future plans, expectations, beliefs, and intentions are “forward-looking statements” and are subject to material risks and uncertainties. Many factors could affect Oracle’s current expectations and actual results, and could cause actual results to differ materially. A discussion of such factors and other risks that affect Oracle’s business is contained in Oracle’s Securities and Exchange Commission (SEC) filings, including Oracle’s most recent reports on Form 10-K and Form 10-Q under the heading “Risk Factors.” These filings are available on the SEC’s website or on Oracle’s website at oracle.com/investor. All information in this article is current as of October 13, 2026 and Oracle undertakes no duty to update any statement in light of new information or future events.