NextEra Energy (NEE) signed a definitive agreement to acquire Dominion Energy in an all-stock transaction. The deal is valued at approximately $66.8 billion. This merger creates the world's largest regulated electric utility by market capitalization. The combined infrastructure company will serve around 10 million customers.
Surging electricity demand from artificial intelligence and data centers drove the consolidation. Dominion shareholders will receive 0.8138 NextEra Energy shares for each share held. Both boards of directors unanimously approved the deal on May 18, 2026. The transaction requires shareholder and regulatory approvals for a 12 to 18-month closing window.
S&P Global Ratings affirmed its 'A-' issuer credit rating for NextEra Energy. The merger increases the firm's lower-risk regulated business mix to over 80%. NextEra shares declined while Dominion Energy shares increased following the announcement. The combined market value of both firms fell by $5 billion. NextEra reaffirmed its full-year 2026 adjusted earnings per share guidance.