OGE Energy Corp. (NYSE:OGE) announced that it will supply electricity to three new Google data centers in Muskogee and Stillwater, Oklahoma, adding a long‑term load that is expected to increase the company’s revenue and support its capital‑deployment plan.
The contracts cover a total of 1,200 megawatts and will be backed by power generation capacity from two solar facilities under construction. Google will pay 100% of the costs to connect the sites to the grid and will cover all contracted power generation costs, ensuring that OGE’s existing customers are not burdened by the new load.
OGE reported first‑quarter 2026 earnings of $0.24 per diluted share, missing the consensus estimate of $0.34. The miss was driven by mild weather that reduced residential demand and higher operation and maintenance expenses, which offset the revenue benefit from the new data‑center load. Revenue for the quarter was $752.6 million, slightly below the $776.95 million estimate but above other forecasts of $613.64 million and $657.5 million, reflecting stronger integrated market and other revenue streams.
Management reaffirmed its 2026 consolidated earnings guidance of $2.43 per diluted share, with a range of $2.38 to $2.48, assuming normal weather for the remainder of the year. The guidance signals confidence that the company can maintain profitability despite short‑term headwinds and that the Google contract will contribute to long‑term growth.
The announcement was well received by investors, with OGE’s stock advancing in pre‑market trading. The positive reaction was driven by the strategic nature of the Google partnership, the protection of existing customers, and the company’s ability to maintain guidance in a challenging quarter.
The deal positions OGE as a preferred partner for large, high‑consumption customers and underscores the company’s competitive advantage of some of the lowest rates in the country. It also highlights the growing demand for data‑center power and the utility’s role in supporting the expansion of AI workloads in Oklahoma.
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