NextEra Energy and Dominion Energy filed for regulatory clearance to combine, targeting a stronger platform to meet rising power demand across Virginia, North Carolina, South Carolina and Florida.
The deal aims to keep Dominion’s utilities locally run and separately regulated, with dual headquarters in Richmond, Virginia, and Juno Beach, Florida.
The plan includes $2.25 billion in shareholder-funded bill credits over two years for Dominion customers in Virginia, North Carolina and South Carolina.
The combined group would own or operate more than 110 gigawatts across renewables, battery storage, nuclear and natural gas.
Closing is targeted for the second half of 2027, subject to shareholder votes and required approvals.
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