NextEra Energy to Acquire Dominion in $66.8 B Deal Creating Largest U.S. Utility for AI Power Needs

NextEra Energy announced an all‑stock acquisition of Dominion Energy valued at roughly $66.8 billion, together with a one‑time cash payment of $360 million. The merger will form the world’s largest regulated electric utility by market capitalization, combining about 110 gigawatts of generation capacity and serving roughly 10 million customers across the U.S. East Coast.

The combined company aims to accelerate power‑grid development in regions facing rapid data‑center expansion, especially Northern Virginia, to meet the growing electricity demand of artificial‑intelligence workloads and other high‑consumption activities such as crypto mining. Dominion customers in Virginia, North Carolina and South Carolina are slated to receive $2.25 billion in bill‑credit incentives over two years. John Ketchum will serve as chairman and CEO of the merged entity, while regulatory approval from FERC, state commissions and the DOJ remains pending.