News & Events zu OGE Energy Corp (OGE)OGEOGE Energy Corp

OGE Energy Reports Q2 Revenue of $711.9M

Reports Q2 revenue $711.9M, consensus $782.57M. "Our Q2 results reflect the strength of our business and the disciplined execution of our team as we advance investments that support reliable, affordable service for customers," said Sean Trauschke, Chairman, President, and CEO of OGE Energy Corp. "We are making significant progress on initiatives that position OG&E for incremental growth while maintaining a strong focus on protecting existing customers as we prepare to serve new large-load opportunities and support economic development."

OG&E Guidance Assumes Normal Weather

The guidance assumes, among other things, normal weather for the remainder of the year. OG&E has significant seasonality in its earnings due to weather on a year-over-year basis.

OGE Energy Signs Electric Service Agreement with Google

OG&E, the operating subsidiary of locally-headquartered OGE Energy Corp. (OGE), announced that it will power three new data centers that Google (GOOG, GOOGL) announced in Muskogee and Stillwater last year. The data centers and associated Electric Service Agreements will provide economic growth for local communities and the state, contribute to grid stability, and benefit OG&E's current customers. As technology continues to propel industry and our personal lives forward, OG&E will power the 21st century economy through these agreements with Google, whose data centers power key services that billions of people use every day, from online banking to hospital records to 911 systems. OG&E worked closely with Google to secure broad customer protections for years to come. Under this agreement, Google is committing to pay 100% of the costs to connect the data center sites to the grid as well as all contracted costs regardless of the company's energy use. Google will also pay its share of power generation required to serve these data centers. As part of the agreement, Google will make power generation capacity available from two solar facilities that are currently under construction. The Electric Service Agreements and Capacity Purchase Agreements will be filed for review with the Oklahoma Corporation Commission in the coming days. The OCC must formally approve the agreement between OG&E and Google to supply power to the data center sites.