NextEra Energy and Dominion Energy announce all-stock combination

NextEra Energy and Dominion Energy said on May 18, 2026, that they have agreed to an all-stock merger that would combine two major U.S. utility businesses into a larger regulated power platform.

The companies said the combined business would serve about 10 million customer accounts. They described the deal as part of a broader effort to expand utility infrastructure at a time when power demand is rising, including from data centers.

Under the agreement, Dominion shareholders would receive 0.8138 NextEra shares and a share of $360 million in cash at closing. The combined company would operate under the NextEra Energy name and keep the NEE ticker.

The transaction still needs shareholder and regulatory approvals, including review from the Federal Trade Commission under the Hart-Scott-Rodino Act, the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission and state utility regulators.

NextEra and Dominion said they expect the deal to close in about 12 to 18 months, though that timeline could change if regulators or shareholders impose conditions or delays.

What the deal means

If completed, the merger would create a much larger regulated utility business with a wider customer base and a bigger infrastructure footprint. The companies framed the combination as a way to strengthen their ability to invest for long-term electricity demand growth.