NextEra Energy merges with Dominion Energy to create the world's largest regulated electric utility

Type: Partnership · Technology: Transmission · Country: United States · Announced: 2026-05-18

NextEra Energy (NYSE: NEE) and Dominion Energy (NYSE: D) announced a definitive all-stock merger on May 18, 2026, creating the world's largest regulated electric utility by market capitalization. Dominion shareholders will receive 0.8138 shares of NextEra Energy for each share held, with NextEra shareholders owning 74.5% of the combined entity and Dominion shareholders holding 25.5%. The transaction is structured as a tax-free, stock-for-stock deal with a $360 million one-time cash payment split equally across all outstanding Dominion shares. The combined company will serve approximately 10 million customer accounts across Florida, Virginia, North Carolina, and South Carolina, operating under the NextEra Energy name. The merger aims to leverage a combined rate base of $138 billion, expected to grow at 11% annually through 2032, to meet rising electricity demand and capitalize on over 130 GW of large-load opportunities in their development pipeline.

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