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Dominion To Combine With Parent Of Large Retail Supplier
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NextEra Energy, Inc. and Dominion Energy, Inc. today announced that they have entered into a definitive agreement to combine in an all-stock transaction.
Dominion Energy shareholders will receive a fixed exchange ratio of 0.8138 shares of NextEra Energy for each share of Dominion Energy they own at the close of the transaction, resulting in NextEra Energy and Dominion Energy shareholders owning approximately 74.5% and 25.5% of the combined company, respectively.
The combined company will serve approximately 10 million regulated utility customer accounts across Florida, Virginia, North Carolina and South Carolina. The combined company will own 110 gigawatts (GW) of generation
The transaction includes the Customer Supply segment at NextEra Energy Resources and Dominion Energy’s Contracted Energy assets including Millstone
The combined company will be ~80% regulated with 90–95% of the combined company's business being either regulated or long-term contracted
Currently, NextEra Energy is 70+% regulated, 20% long-term contracted, and 10% "Other"
NextEra Energy, Inc. will remain the holding company name
John Ketchum, chairman, president, and CEO of NextEra Energy, will serve as chairman and chief executive officer of the combined company. Robert Blue, chair, president, and CEO of Dominion Energy, will serve as president and CEO of regulated utilities and as a member of the board of directors
The combined company will have dual headquarters in Juno Beach, Florida, and Richmond, Virginia
The transaction has been unanimously approved by the boards of directors of both companies. The transaction is expected to close in 12 to 18 months, subject to customary closing conditions and approvals by the shareholders of NextEra Energy and Dominion Energy, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, approval by the Federal Energy Regulatory Commission under Section 203 of the Federal Power Act, and approval by the Nuclear Regulatory Commission. The companies will also file for review and approval from the Virginia State Corporation Commission, the North Carolina Utilities Commission and the Public Service Commission of South Carolina.
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May 18, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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