NextEra, Dominion Merger Creates World’s Largest Utility
NextEra Energy will buy Dominion Energy in an all-stock deal valued at nearly $67 billion, uniting two leading players in the race to meet growing electricity demand from data centers that run artificial intelligence. NextEra Energy (NEE) to buy Dominion Energy (D) The combination will create the world’s largest regulated electric utility business, fortified by North America’s premier energy infrastructure platform and developer. The combined company will be more than 80% regulated, serve approximately 10 million utility customer accounts across Florida, Virginia, North Carolina and South Carolina and own 110 gigawatts (GW) of generation across a broad mix of energy sources. The combined company will drive affordability in the long term by leveraging scale and operating and capital efficiencies as the company makes smart investments on behalf of its customers to meet growing power demand. Additionally, the combined company is proposing $2.25 billion in bill credits for Dominion Energy’s customers in Virginia, North Carolina and South Carolina spread over two years post-close. Business News Today – tEDmag

