NextEra and Dominion in US electricity mega-merger

JUNO BEACH AND RICHMOND, May 19, 2026 – NextEra Energy and Dominion Energy have agreed to merge through an all-stock transaction to create one of the world’s largest energy infrastructure platforms, the companies announced on Monday.

Under the terms of the deal, Dominion Energy shareholders will receive 0.8138 NextEra Energy shares for each Dominion Energy share, resulting in NextEra Energy and Dominion Energy shareholders owning approximately 74.5% and 25.5% of the combined company, respectively.

The new entity will operate as NextEra Energy and will have dual headquarters in Juno Beach, Florida, and Richmond, Virginia. It will supply power to approximately 10 million utility customers in the US states of Florida, Virginia, North Carolina and South Carolina and will own 110 GW of diversified generation capacity.

NextEra Energy’s John Ketchum will serve as chairman and CEO of the combined company, while Dominion Energy’s Robert Blue will act as president and CEO of the regulated utilities business and as a member of the board of directors.

“Electricity demand is rising faster than it has in decades. Projects are getting larger and more complex. We are bringing NextEra Energy and Dominion Energy together because scale matters more than ever – not for the sake of size, but because scale translates into capital and operating efficiencies,” said John Ketchum, chairman, president and CEO of NextEra Energy.

The deal has been unanimously approved by the boards of both companies and is expected to close within the next 18 months, subject to regulatory and shareholder approvals. After the transaction, the company’s operations will be more than 80% regulated and focused on states whose power demand is expected to be among the fastest-growing in the US over the medium term.

Photo courtesy of American Public Power Association

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