May 19, 2026 — The combined company would serve 10 million customers and have dual headquarters in Florida and Richmond.
Florida-based NextEra Energy on Monday announced plans to acquire Dominion Energy, creating what officials called “the world’s largest regulated electric utility business,” worth more than $400 billion.
The companies have entered a definitive agreement to combine in an all-stock, tax-free transaction, according to a joint news release. They will need approval from state and federal regulators.
“This combination brings together two strong operating platforms and creates an even stronger energy partner for Virginia, North Carolina, South Carolina and Florida, with the scale and balance sheet to deliver the generation, transmission and grid investments our customers and economies need,” Dominion president and CEO Robert Blue said in the statement.
The combined company, serving about 10 million customers, would use NextEra’s name on the stock exchange, with dual headquarters in Richmond and Juno Beach, Florida. But Dominion will continue to operate under its own name.
NextEra shareholders would own about 75%. Dominion shareholders would receive $360 million in cash when the deal closes.