Dominion Energy and NextEra Energy filed a formal application with South Carolina’s Public Service Commission for a $67 billion merger. The combined utility would serve 10 million customers across Florida, Virginia, and the Carolinas. The companies aim to scale operations to meet rapidly increasing energy demand.
The proposal includes $387.5 million in bill credits for South Carolina customers. Average residential users in the state would receive a $10 monthly discount for two years. Total shareholder-funded credits across all affected states would reach $2.25 billion. The companies expect to finalize the deal in the second half of 2027 following regulatory reviews.
The Southern Environmental Law Center and the Sierra Club oppose the merger. Advocacy groups argue the bill credits are insufficient relative to projected shareholder profits. Critics also warn of potential long-term negative impacts on ratepayer costs. South Carolina regulators are expected to issue a decision by January 2027.