NextEra Energy to acquire Dominion Energy in massive $67B megamerger

NextEra Energy (NYSE:NEE) announced Monday a definitive agreement to acquire Dominion Energy (NYSE:D) in an all-stock transaction valued at approximately $67 billion.

The megamerger unites two of the most prominent players in the North American utility sector, establishing the largest regulated electric utility business in the world by market capitalization as the industry races to supply the surging, electricity-intensive infrastructure required by the artificial intelligence boom.

Under the terms of the 100% stock-for-stock agreement, Dominion Energy shareholders will receive 0.8138 shares of NextEra Energy for each share they own.

Upon the final completion of the transaction, legacy NextEra Energy shareholders will control approximately 74.5% of the combined entity, while Dominion shareholders will hold the remaining 25.5%.

The combined enterprise will retain the NextEra Energy corporate name and continue to trade under the ticker symbol NEE on the New York Stock Exchange.

The combined footprint will aggregate roughly 110 gigawatts of generation capacity spanning a diversified portfolio of natural gas, nuclear power, battery storage, and utility-scale renewables—including Dominion’s massive 2.6 GW Coastal Virginia Offshore Wind project.

The unified utility giant will service more than 10 million customer accounts across four key states: Florida, Virginia, North Carolina, and South Carolina.

In an effort to ease integration and secure regional regulatory goodwill, the companies have committed to distributing $2.25 billion in total bill credits over a two-year post-closing window to existing Dominion customers in the Carolinas and Virginia.

The consolidation is a direct response to a fundamental shift in the macroeconomic landscape, where technology hyperscalers are scouring the country to secure vast amounts of reliable energy for data centers.

The surge in digital infrastructure development comes at a precarious time for retail consumers, who are already grappling with rising energy costs; the latest federal inflation data indicated that U.S. electricity costs jumped 6.1% in April compared to the previous year.

The transaction has been unanimously approved by both boards of directors and is projected to close in mid-to-late 2027, subject to customary antitrust reviews, shareholder votes, and approvals from state and federal energy regulators.