JUNO BEACH, Fla. — NextEra Energy Inc. agreed to acquire Dominion Energy Inc. in an all-stock transaction valued at about $66.8 billion, the companies announced on Monday, creating what they described as the world's largest regulated electric utility.
The deal, announced May 18, 2026, would combine Florida-based NextEra Energy with Virginia-based Dominion Energy. NextEra shareholders are expected to own approximately 74.5% of the combined company, while Dominion shareholders would own about 25.5%, according to company statements.
Under the terms, Dominion Energy shareholders will receive 0.8138 shares of NextEra Energy for each share of Dominion, plus a $360 million aggregate cash payment upon closing. The transaction values Dominion at a premium of about 23% based on recent share prices, company filings and reports indicated.
The combined entity would serve approximately 10 million utility customer accounts across Florida, Virginia, North Carolina and South Carolina, with significant regulated operations and renewable energy assets. It would also position the company to address growing electricity demand, including from data centers tied to artificial intelligence development, the companies said.
NextEra Energy and Dominion Energy said the boards of both companies unanimously approved the agreement. The transaction is structured as a tax-free merger for Dominion shareholders, subject to regulatory approvals, shareholder votes and other customary closing conditions.
"The combination will create the world’s largest regulated electric utility business, fortified by North America’s premier energy infrastructure platform and developer," the companies stated in a joint release.
The deal is expected to close in 12 to 18 months, according to presentations and statements from the companies. It would require approvals from federal and state regulators.
As part of the proposed combination, the companies have outlined plans for about $2.25 billion in bill credits for Dominion customers over the first two years after closing, with a significant portion directed to Virginia customers. Details of customer impacts and rate implications remain subject to regulatory review.
The announcement comes amid broader industry efforts to meet rising power demand. NextEra Energy operates Florida Power & Light and has a large renewable energy portfolio through NextEra Energy Resources. Dominion Energy serves customers primarily in Virginia and surrounding states.
Shares of NextEra Energy fell following the announcement, while Dominion Energy shares rose, market reports indicated. The companies will continue to operate separately until the transaction closes.
The combined company would continue under the NextEra Energy name and trade on the New York Stock Exchange under the ticker NEE.
