NextEra Energy to Acquire Dominion Energy for $130 Billion

NextEra Energy, Inc. (NEE) entered a merger agreement on May 18, 2026, to acquire Dominion Energy, Inc. (D) for $130 billion.

Deal Structure:

Dominion Energy shareholders will receive a fixed exchange ratio of 0.8138 shares of NextEra Energy (NEE) for each share of Dominion Energy they own, representing $75.98 per share.

In addition, Dominion Energy shareholders will continue to receive Dominion’s current quarterly dividend through closing, plus a one-time cash payment of $360 million at closing. Based on Dominion’s outstanding shares, this cash payment represents $0.41 per share.

The total consideration for the deal comes to $76.39 per share, representing a premium of 23.75% from the stock’s last close.

Company Profile:

Dominion Energy is a U.S.-based regulated utility company that generates, transmits, and distributes electricity and natural gas across multiple states, including Virginia, North Carolina, South Carolina, Ohio, and Utah. The company also operates renewable energy assets, including offshore wind, solar, LNG, and natural gas infrastructure.

NextEra Energy is a U.S.-based electric utility and energy infrastructure company that generates, transmits, distributes, and sells electricity across North America through a mix of natural gas, nuclear, wind, solar, and battery storage assets. The company also develops and operates renewable energy and power transmission projects through its subsidiaries, including Florida Power & Light and NextEra Energy Resources.

Deal Details and Timeline:

Shareholders of NextEra and Dominion would own about 74.5% and 25.5% of the combined company, respectively.

The combined company will get more than 80% of its business from regulated utilities, serve about 10 million customer accounts across Florida, Virginia, North Carolina, and South Carolina, and own 110 gigawatts of power generation from a variety of energy sources.

The combined company will operate under the NextEra Energy name. It will maintain a strong local presence with dual headquarters in Juno Beach and Richmond, along with Dominion Energy South Carolina’s existing operations headquarters in Cayce. The utility businesses will continue operating as Dominion Energy Virginia, Dominion Energy North Carolina, and Dominion Energy South Carolina.

John Ketchum will serve as CEO of the combined company, while Robert Blue will become CEO of regulated utilities and join the board. Edward Baine will lead Dominion Energy Virginia, Keller Kissam will lead Dominion Energy South Carolina, and Scott Bores will continue as CEO of Florida Power & Light Company.

The merger is anticipated to close in 12 to 18 months by November 2027.

Dominion was advised on the financial side by Goldman Sachs and J.P. Morgan, while McGuireWoods acted as its legal advisor. Meanwhile, NextEra received financial advice from Lazard, Bank of America, and Wells Fargo, with legal support from Kirkland & Ellis.

The acquisition by NextEra values Dominion at 14.24 times EBITDA.

Deal Metrics:

For a more comprehensive understanding of this merger, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Dominion Energy, Inc. (D) by NextEra Energy, Inc. (NEE)

The Deal Metrics page for each merger or acquisition provides:

• A spread history chart of the merger from announcement through eventual completion or failure.
• A chronological record of events as the merger progresses, including the expiration of the HSR period, regulatory approvals, shareholder votes, etc.
• News and SEC filings related to the transaction.
• A history of deal updates.
• And much more information.

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Editor’s Note: Baranjot Kaur contributed to this article