Dominion to be acquired by NextEra Energy in $66.8 billion deal

May 18, 2026 - 23:36

NextEra Energy has announced a massive $68 billion all-stock acquisition of Dominion Energy, a move that will reshape the landscape of the American utility sector. The deal, valued at roughly $66.8 billion including debt, brings together two of the largest power companies in the country. Under the terms, Dominion shareholders will receive a fixed number of NextEra shares for each Dominion share they own, effectively merging the two companies into a single energy giant.

The combined entity will serve millions of customers across multiple states, with a strong focus on natural gas, nuclear, and renewable energy sources. NextEra, already a leader in wind and solar power, will gain Dominion's extensive regulated utility operations in Virginia, the Carolinas, and other regions. This expansion is expected to accelerate the transition to cleaner energy while providing more stable earnings from regulated rate bases.

Industry analysts note that the deal comes at a time when utilities are under pressure to modernize aging grids and meet ambitious carbon reduction targets. By pooling resources, the two companies can spread the high costs of infrastructure upgrades and new generation projects. The transaction is subject to approvals from regulators and shareholders of both firms, with a closing expected by late next year. Dominion's headquarters in Richmond, Virginia, is likely to remain a major operational hub, though some consolidation of corporate functions is anticipated.