NextEra Energy to acquire Dominion Energy for $67 billion

NextEra Energy announced Monday it will acquire Dominion Energy in an all-stock deal valued at approximately $67 billion, creating the world's largest regulated electric utility. The combined company will serve around 10 million utility customers across Florida, Virginia, North Carolina and South Carolina and will operate under NextEra's name while trading under its ticker symbol on the New York Stock Exchange. NextEra shareholders will own 74.5% of the merged entity, with Dominion investors holding the remaining 25.5%. Dominion, with a market cap exceeding $50 billion, is responsible for powering the world's largest data center market in Northern Virginia, a region critical to the technology industry. NextEra, headquartered in Florida, is the largest utility in the S&P 500 with a market cap surpassing $190 billion and holds the distinction of being the nation's biggest renewable energy developer. The merger positions both companies to capitalize on surging electricity demand driven by AI applications and data center growth. Despite NextEra's leadership in renewable energy, the company has increased its investment in natural gas during the second Trump administration and is actively expanding nuclear energy capabilities. Last year, NextEra announced a partnership with Google to reopen the mothballed Duane Arnold nuclear plant in Iowa, underscoring the company's strategic push to secure diverse power sources to meet the rapidly growing energy needs of artificial intelligence infrastructure.