NEWS: DTE Energy could freeze electric rates for two years—if a 1.4-GW Oracle data center goes as planned.

On one condition: The utility “plans to refrain” from requesting another rate hike “until at least 2028”…but only if the Oracle data center comes online as scheduled by late 2027, DTE said in a statement. The utility plans to supply 100% of the data center’s power needs. The company has also signed an agreement with Google for a 1-GW data center (with 2.7 GW of new, grid-connected power).

Ratepayer relief? Amid all the hyperscaler collabs, DTE is upping its spending—it filed a $470M+ electric rate case in April. But the company claims its growing customer pipeline can benefit existing ratepayers by absorbing “a significant portion of fixed system costs.” The two data center contracts are expected to contribute $9B to upgrading DTE’s electric system through 2045.