NextEra Energy and Dominion Energy filed regulatory applications today to approve their proposed merger. The deal would create one of the largest integrated energy companies in the United States.
The combined entity would serve approximately 10 million customers. It would manage over 110 gigawatts of generation capacity across renewables, battery storage, nuclear, and natural gas.
The transaction aims to address unprecedented electricity demand from data centers and electrification. Shareholders will fund $2.25 billion in bill credits for customers in Virginia, North Carolina, and South Carolina.
The companies committed that merger-related costs will not be passed on to customers. This move may trigger further utility sector consolidation to fund infrastructure for the energy transition and AI boom.
Both boards unanimously approved the transaction. The deal is expected to close in the second half of 2027, pending regulatory and shareholder approvals.