NextEra Energy and Dominion Energy file applications seeking regulatory approval of their proposed combination
Customers in Virginia, North Carolina and South Carolina would receive $2.25 billion in shareholder-funded bill credits, and the companies have committed that merger-related costs will not be passed on to customers
The combination brings together Dominion Energy's local leadership, experienced workforce and community knowledge with NextEra Energy's added financial strength, supply chain expertise and infrastructure development capabilities
The combined company would bring an all-of-the-above energy platform, including renewables, battery storage, nuclear and natural gas, with industry-leading capabilities
Dominion Energy's operating companies will remain locally led and separately regulated, with meaningful job protections; the combined company would maintain dual corporate headquarters in Richmond, Virginia, and Juno Beach, Florida, and an operational headquarters in Cayce, South Carolina
The combination positions Virginia, North Carolina and South Carolina to meet unprecedented power demand, support jobs and economic development, and keep customer bills affordable
The transaction is expected to close in the second half of 2027
JUNO BEACH, Fla. and RICHMOND, Va., July 15, 2026 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) and Dominion Energy, Inc. (NYSE: D) today filed applications seeking regulatory approval of their proposed combination with the Virginia State Corporation Commission, the North Carolina Utilities Commission, the Public Service Commission of South Carolina, the Federal Energy Regulatory Commission and the Nuclear Regulatory Commission.
America is entering an era of rapidly growing electricity demand that will require substantial investment in generation, transmission, distribution and grid resilience. The proposed combination is designed to preserve Dominion Energy's local strengths with NextEra Energy's added resources, balance sheet strength, supply chain expertise, construction experience and operating capabilities to help meet that demand reliably and affordably over the long term. The combined company would serve approximately 10 million customer accounts across four of the nation's fastest-growing states and be better positioned to buy, build, finance and operate the energy infrastructure customers need more efficiently.
The larger platform is intended to complement, not replace, Dominion Energy's local operating model. Dominion Energy's operating companies would remain locally led, separately regulated and accountable to their state commissions, while their teams gain access to additional technology, capital and proven practices. That includes a proven track record at Florida Power & Light Company (FPL) with more than 20 years of reliably and affordably meeting growth in one of the fastest-growing states in America, with a reliability performance of more than 60% better than the national average and a typical residential bill approximately 30% below the national average.