NextEra Will Buy Dominion Energy in Largest-Ever Electric Utility Deal

Darrell Proctor

Mon, May 18, 2026 astatine 8:50 AM CDT 4 min read

Florida-headquartered NextEra Energy, 1 of the largest U.S. powerfulness utilities, is acceptable to bargain Virginia-based Dominion Energy successful an all-stock woody valued astatine astir $67 billion. The companies announced the woody connected May 18, 1 time aft respective outlets including POWER reported the vigor groups were discussing an statement to make a inferior elephantine that would person assets from seashore to coast. The acquisition volition make the largest regulated electrical inferior successful the world. Analysts person said the woody is tied to NextEra's extremity of being a starring subordinate successful supplying powerfulness for the energy-intensive information halfway sector. Dominion, with 4 cardinal customers successful Virginia and the Carolinas, is the inferior presently astir intimately tied to providing energy for the alleged "Data Center Alley" of Loudon County, Virginia. NextEra's marketplace headdress of $195 cardinal makes it the largest U.S. inferior by valuation, astir doubly arsenic overmuch arsenic Southern Co., the next-largest utility, which has a marketplace headdress of astir $104 billion. NextEra besides is the biggest renewable vigor developer successful the U.S. The institution includes a regulated inferior serving astir six cardinal customers successful Florida. The institution besides has an unregulated portion focused connected renewable vigor (click present for a representation of NextEra’s operations). The companies connected Monday said NextEra shareholders volition ain 74.5% of the combined company, portion Dominion investors volition ain 25.5%. NextEra has an endeavor value—a fiscal metric measuring a company’s full economical value—of astir $303 billion. About one-third of that worth is debt. Dominion’s endeavor worth is astir $111 billion, with astir $50 cardinal successful debt. “Electricity request is rising faster than it has successful decades,” NextEra CEO John Ketchum said successful a statement. “We are bringing NextEra Energy and Dominion Energy unneurotic due to the fact that standard matters much than ever." The combined companies volition run nether NextEra’s sanction and commercialized connected the New York Stock Exchange.