OGE Energy Signs Electric Service Agreement with Google
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy OGE?
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.
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Analyst Views on OGE
Wall Street analysts forecast OGE stock price to rise
7 Analyst Rating
2 Buy
5 Hold
0 Sell
Moderate Buy
Current: 48.180
Low
44.00
Averages
49.00
High
55.00
Current: 48.180
Low
44.00
Averages
49.00
High
55.00
About OGE
OGE Energy Corp. is a holding company whose primary investment provides electricity in Oklahoma and western Arkansas. The Company's electrical operations are conducted through its wholly owned subsidiary, Oklahoma Gas and Electric Company (OG&E), which generates, transmits, distributes, and sells electric energy in Oklahoma and western Arkansas. OG&E provides retail electric service to approximately 913,000 customers in Oklahoma and western Arkansas throughout a service area that covers over 30,000 square miles, including Oklahoma City, Fort Smith, Arkansas, and other large communities with their contiguous rural and suburban areas. The Company’s other operations primarily include the operations of the holding company and other energy-related investments. It offers residential and business solutions. Its residential solutions include start/stop/transfer, bill pay, billing & payment, rate plans, myOGEalerts, silver energy, construction services and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
OG&E Signs Power Agreement with Google for New Data Centers
- Customer Protection Agreement: The Electric Service Agreement between OG&E and Google ensures that Google will cover all costs to connect the data centers to the grid, safeguarding current customers' interests while promoting local economic growth.
- Cost Advantage: OG&E's rates are among the lowest in the nation, with residential rates 19% below the regional average and 34% below the national average, providing a competitive edge for economic growth and investment.
- Renewable Energy Commitment: Google will make power generation capacity available from two solar facilities currently under construction, further enhancing the sustainability and reliability of the grid.
- Model for Future Development: This agreement will serve as a model for future data center partnerships for OG&E and lays the groundwork for a new large-load tariff to be submitted, ensuring that customers do not bear the costs of growing demand.
See More
OGE Energy Corp. Q1 2026 Earnings Call Insights
- Financial Performance Overview: OGE Energy reported consolidated net income of approximately $50 million or $0.24 per diluted share for Q1 2026, down from $63 million or $0.31 per share in the same period of 2025, primarily impacted by milder weather, highlighting the company's vulnerability to climate variability.
- Future Growth Outlook: The company maintains its earnings guidance of $2.43 per share, with a range of $2.38 to $2.48, despite challenges from mild weather, indicating management's optimism regarding market demand and future growth potential.
- Large Load Contract Progress: OGE is set to file long-term special contracts with Google to serve its data centers in Oklahoma, with Google covering all grid connection costs, which not only enhances OGE's revenue streams but also potentially strengthens its competitive position in the market.
- Generation Capacity Expansion: The commissioning of the 98-megawatt Tinker power plant in February and the expected addition of 450 megawatts of new generators in Q4, along with plans for two more 450-megawatt units, will solidify OGE's power supply foundation for future growth.
See More
OGE Energy Q1 Earnings Exceed Expectations
- Earnings Beat: OGE Energy reported a Q1 GAAP EPS of $0.28, exceeding expectations by $0.03, reflecting the company's robust performance in the market and boosting investor confidence.
- Revenue Growth: The company achieved Q1 revenue of $752.6 million, a 0.7% year-over-year increase, surpassing market expectations by $136.55 million, indicating ongoing efforts in revenue growth and stable market demand.
- 2026 Outlook: OGE Energy's consolidated earnings guidance for 2026 remains unchanged, projected at $2.43 per average diluted share, aligning with market consensus and demonstrating confidence in future profitability.
- Long-Term Growth Target: OGE Energy has set a target for 5%-7% EPS growth through 2028, driven by demand in transmission and data centers, indicating a proactive strategy for future market positioning.
See More
OGE Energy to Announce Q1 Earnings on April 29
- Earnings Announcement Schedule: OGE Energy is set to release its Q1 earnings on April 29 before market open, with consensus EPS estimate at $0.24 and revenue estimate at $616.05 million, reflecting a 17.6% year-over-year decline.
- Earnings Estimate Adjustments: Over the last three months, EPS estimates have seen one upward revision and three downward revisions, while revenue estimates have experienced no upward revisions and two downward revisions, indicating market caution regarding the company's performance.
- Long-Term Growth Target: OGE Energy has outlined a target of 5%-7% EPS growth through 2028, driven by demand in transmission and data centers, demonstrating the company's confidence in future growth prospects.
- Recent Earnings Performance: In Q4 2025, OGE Energy reported a GAAP EPS of $0.34, beating estimates by $0.02, with revenue of $725.8 million exceeding expectations by $155.16 million, showcasing the company's financial resilience.
See More
OGE Energy Corp. Announces Quarterly Earnings Call
- Earnings Call Schedule: OGE Energy Corp. will hold its quarterly earnings and business update conference call on April 29, 2026, at 9 a.m. Eastern Time (8 a.m. Central Time), aimed at providing investors and analysts with the latest financial performance and business developments.
- Webcast Platform: The call will be webcast by Notified, and investors can access it through OGE Energy's website at www.oge.com, ensuring transparency and timeliness of information dissemination.
- Investor Communication Strategy: By conducting regular earnings calls, OGE Energy not only enhances communication with investors but also boosts market confidence in the company's financial health, potentially leading to a positive impact on stock prices.
- Business Update Content: The meeting will cover the latest financial data and business developments, helping investors better understand OGE Energy's performance and strategic direction in the current market environment.
See More
OGE Energy Corp. Schedules Quarterly Earnings Call
- Earnings Call Announcement: OGE Energy Corp. is set to hold its quarterly earnings and business update conference call on April 29, 2026, at 9 a.m. Eastern Time (8 a.m. Central Time), aimed at providing investors with the latest financial performance and business developments.
- Webcast Platform: The call will be webcast by Notified, allowing investors to access the meeting through OGE Energy's website at www.oge.com, ensuring transparency and timely information dissemination.
- Investor Communication: By conducting regular earnings calls, OGE Energy not only enhances communication with investors but also demonstrates its commitment to transparency and corporate governance, aiming to boost investor confidence.
- Market Reaction Expectations: This meeting will provide investors with critical financial data and business updates, which are expected to have a certain impact on OGE Energy's stock price and market performance, especially against the backdrop of volatility in the energy market.
See More
OG&E Signs Power Agreement with Google for New Data Centers
- Customer Protection Agreement: The Electric Service Agreement between OG&E and Google ensures that Google will cover all costs to connect the data centers to the grid, safeguarding current customers' interests while promoting local economic growth.
- Cost Advantage: OG&E's rates are among the lowest in the nation, with residential rates 19% below the regional average and 34% below the national average, providing a competitive edge for economic growth and investment.
- Renewable Energy Commitment: Google will make power generation capacity available from two solar facilities currently under construction, further enhancing the sustainability and reliability of the grid.
- Model for Future Development: This agreement will serve as a model for future data center partnerships for OG&E and lays the groundwork for a new large-load tariff to be submitted, ensuring that customers do not bear the costs of growing demand.
See More
OGE Energy Corp. Q1 2026 Earnings Call Insights
- Financial Performance Overview: OGE Energy reported consolidated net income of approximately $50 million or $0.24 per diluted share for Q1 2026, down from $63 million or $0.31 per share in the same period of 2025, primarily impacted by milder weather, highlighting the company's vulnerability to climate variability.
- Future Growth Outlook: The company maintains its earnings guidance of $2.43 per share, with a range of $2.38 to $2.48, despite challenges from mild weather, indicating management's optimism regarding market demand and future growth potential.
- Large Load Contract Progress: OGE is set to file long-term special contracts with Google to serve its data centers in Oklahoma, with Google covering all grid connection costs, which not only enhances OGE's revenue streams but also potentially strengthens its competitive position in the market.
- Generation Capacity Expansion: The commissioning of the 98-megawatt Tinker power plant in February and the expected addition of 450 megawatts of new generators in Q4, along with plans for two more 450-megawatt units, will solidify OGE's power supply foundation for future growth.
See More
OGE Energy Q1 Earnings Exceed Expectations
- Earnings Beat: OGE Energy reported a Q1 GAAP EPS of $0.28, exceeding expectations by $0.03, reflecting the company's robust performance in the market and boosting investor confidence.
- Revenue Growth: The company achieved Q1 revenue of $752.6 million, a 0.7% year-over-year increase, surpassing market expectations by $136.55 million, indicating ongoing efforts in revenue growth and stable market demand.
- 2026 Outlook: OGE Energy's consolidated earnings guidance for 2026 remains unchanged, projected at $2.43 per average diluted share, aligning with market consensus and demonstrating confidence in future profitability.
- Long-Term Growth Target: OGE Energy has set a target for 5%-7% EPS growth through 2028, driven by demand in transmission and data centers, indicating a proactive strategy for future market positioning.
See More
OGE Energy to Announce Q1 Earnings on April 29
- Earnings Announcement Schedule: OGE Energy is set to release its Q1 earnings on April 29 before market open, with consensus EPS estimate at $0.24 and revenue estimate at $616.05 million, reflecting a 17.6% year-over-year decline.
- Earnings Estimate Adjustments: Over the last three months, EPS estimates have seen one upward revision and three downward revisions, while revenue estimates have experienced no upward revisions and two downward revisions, indicating market caution regarding the company's performance.
- Long-Term Growth Target: OGE Energy has outlined a target of 5%-7% EPS growth through 2028, driven by demand in transmission and data centers, demonstrating the company's confidence in future growth prospects.
- Recent Earnings Performance: In Q4 2025, OGE Energy reported a GAAP EPS of $0.34, beating estimates by $0.02, with revenue of $725.8 million exceeding expectations by $155.16 million, showcasing the company's financial resilience.
See More
OGE Energy Corp. Announces Quarterly Earnings Call
- Earnings Call Schedule: OGE Energy Corp. will hold its quarterly earnings and business update conference call on April 29, 2026, at 9 a.m. Eastern Time (8 a.m. Central Time), aimed at providing investors and analysts with the latest financial performance and business developments.
- Webcast Platform: The call will be webcast by Notified, and investors can access it through OGE Energy's website at www.oge.com, ensuring transparency and timeliness of information dissemination.
- Investor Communication Strategy: By conducting regular earnings calls, OGE Energy not only enhances communication with investors but also boosts market confidence in the company's financial health, potentially leading to a positive impact on stock prices.
- Business Update Content: The meeting will cover the latest financial data and business developments, helping investors better understand OGE Energy's performance and strategic direction in the current market environment.
See More
OGE Energy Corp. Schedules Quarterly Earnings Call
- Earnings Call Announcement: OGE Energy Corp. is set to hold its quarterly earnings and business update conference call on April 29, 2026, at 9 a.m. Eastern Time (8 a.m. Central Time), aimed at providing investors with the latest financial performance and business developments.
- Webcast Platform: The call will be webcast by Notified, allowing investors to access the meeting through OGE Energy's website at www.oge.com, ensuring transparency and timely information dissemination.
- Investor Communication: By conducting regular earnings calls, OGE Energy not only enhances communication with investors but also demonstrates its commitment to transparency and corporate governance, aiming to boost investor confidence.
- Market Reaction Expectations: This meeting will provide investors with critical financial data and business updates, which are expected to have a certain impact on OGE Energy's stock price and market performance, especially against the backdrop of volatility in the energy market.
See More
