NextEra to buy Dominion in $67bn deal creating US utility giant

NextEra, a US vigor giant, announced connected Monday that it volition bargain Dominion Energy successful a $67bn deal, creating what the companies accidental volition beryllium the world’s largest regulated inferior business.

The woody comes arsenic the appetite for vigor sources has swelled with the operation of monolithic datacenters crossed the country, built mostly to proviso rising request for AI.

If approved by authorities and national regulators, the woody would beryllium 1 of the largest mergers successful Donald Trump’s 2nd term. NextEra joins different companies crossed antithetic industries, from amusement to tech and railroads, who person instigated tremendous mergers and acquisitions nether a statesmanlike medication that appears unfastened to megadeals.

The combined institution would service astir 10m inferior lawsuit accounts crossed a fistful of confederate states, including North Carolina, South Carolina, Florida and Virginia.

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The boards of directors astatine some companies unanimously approved the deal, which would beryllium an all-stock transaction successful which NextEra Energy shareholders would ain astir three-quarters of the combined company, portion Dominion Energy shareholders ain the rest. NextEra’s banal dropped much than 5% aft the announcement, portion Dominion Energy’s banal roseate conscionable nether 10%.

In a connection connected Monday, the companies tied the merger straight to improving affordability and said that the combined institution projected $2.25bn successful measure credits dispersed implicit 2 years erstwhile the woody closes.

“Electricity request is rising faster than it has successful decades. Projects are getting larger and much complex. Customers request affordable and reliable powerfulness now, not years from now,” John Ketchum, the president and CEO of NextEra Energy, said successful a statement.

Climbing vigor prices are a main operator of ostentation and a sore spot for Americans who are already struggling to support up with mundane costs. Many are seeing soaring inferior bills adjacent arsenic the CEOs of inferior companies are seeing immense wage raises: Ketchum was the third-highest-paid CEO successful the US successful 2025, with a $24m compensation package.

Others, acrophobic astir adjacent higher inferior bills and polluted groundwaters, are warring the operation of datacenters successful their towns, which are backed by billionaires specified arsenic Trump, Open AI CEO Sam Altman and different vigor giants.

Meanwhile, arsenic a increasing fig of communities person been pushing for nationalist powerfulness successful the US by municipalizing their grids, the inferior manufacture has been softly dispatching a web of beforehand groups to thwart those efforts, the Guardian reported earlier this month. Some groups that look to beryllium grassroots efforts opposing nationalist powerfulness campaigns were recovered to beryllium funded by almighty inferior companies, who basal to suffer billions if communities municipalize.