NextEra’s $66.8 billion Dominion buyout creates US power giant
NextEra Energy plans to acquire Dominion Energy for $66.8 billion, creating the world's largest regulated electric utility. This merger is driven by the soaring electricity demand from AI data centers and aims to accelerate power infrastructure build-out across the U.S. Southeast.
NextEra Energy has announced a $66.8 billion all-stock transaction to acquire Dominion Energy, a move that will create the world's largest regulated electric utility by market capitalization. The combined entity will have an enterprise value of approximately $420 billion and a market cap of about $249 billion, making it the third-biggest U.S. energy company.
NextEra CEO John Ketchum stated that the merger is critical for building energy infrastructure faster, more efficiently, and affordably, especially amid the surging demand for power from AI data centers. The combined company will serve a significant portion of the U.S. Southeast, a region experiencing rapid population growth and home to Virginia, one of the largest data center hubs globally. Executives noted that the deal would facilitate a quicker expansion of power infrastructure to support an estimated 130 gigawatts of proposed data center electricity demand.
The merger is subject to several regulatory approvals, including from the Federal Energy Regulatory Commission (FERC), Nuclear Regulatory Commission (NRC), and state power commissions in Virginia, North Carolina, and South Carolina, where Dominion currently operates.