NextEra Energy and Dominion Energy announce merger agreement

NextEra Energy and Dominion Energy said Monday they have agreed to combine in a transaction that the companies say will create the world’s largest regulated electric utility business and a major energy infrastructure platform.

Under the agreement announced by the companies, Dominion shareholders would receive 0.8138 shares of NextEra Energy for each Dominion share. The combined company would operate under the NextEra Energy name and trade under the ticker NEE, according to the official releases.

The deal comes as utilities and power suppliers are drawing renewed attention from investors because of rising electricity demand, including demand tied to artificial intelligence data centers. AP reported that the companies framed the merger around that trend, while Reuters reported the transaction was valued at about $66.8 billion.

The companies said the agreement is definitive, but the transaction still needs regulatory and shareholder approvals before it can close. A final closing timeline has not yet been announced.

There is also a small reporting wrinkle around the deal structure. The public releases describe the transaction as all-stock, while an SEC filing cited in the research refers to an aggregate cash component alongside NextEra shares.

For now, the announcement marks one of the largest utility combinations in recent years and reflects how power companies are positioning themselves around expected growth in U.S. electricity demand.