NextEra Energy and Dominion Energy have begun the regulatory approval process for their merger announced in May 2026
The proposed combined company would own more than 110 GW of generation capacity and serve around 10 million customer accounts in the US
They expect the transaction to close in H2 2027, pending shareholder and regulatory approvals
US utilities NextEra Energy and Dominion Energy have filed applications with US federal and state regulators seeking approval for their proposed merger, two months after announcing the all-stock transaction in May 2026.
If approved, the combination would create the world's largest regulated electric utility business by market capitalization and one of the world’s largest energy infrastructure companies, the duo claims. McGuire Woods LLP, which is advising Dominion Energy, had previously pegged the transaction's enterprise value at approximately $420 billion.
The combined company – with NextEra Energy holding a 74.5% stake and Dominion Energy 25.5% – would own or operate more than 110 GW of generation capacity across renewable energy, battery storage, nuclear, and natural gas technologies.
NextEra Energy says that at the end of March 2026, its Florida Power and Light (FPL) platform owned and operated over 8.5 GW of solar portfolio while it plans to add more than 12 GW of solar and 7 GW of storage solutions to its portfolio over the next decade. NextEra Energy Resources estimates its renewables backlog at around 33 GW.
The combined platform will be number 1 in the world in renewables and battery storage, they claim.
The duo initially announced their merger plan on May 18, 2026. The all-stock merger would combine the companies into a regulated utility serving approximately 10 million customer accounts across Florida, Virginia, North Carolina, and South Carolina.
The companies said they have submitted applications to the Virginia State Corporation Commission, the North Carolina Utilities Commission, the Public Service Commission of South Carolina, the Federal Energy Regulatory Commission (FERC), and the Nuclear Regulatory Commission (NRC). The transaction is expected to close in H2 2027, subject to shareholder and regulatory approvals.
The combined company would retain dual corporate headquarters in Juno Beach, Florida, and Richmond, Virginia, while maintaining an operational headquarters in Cayce, South Carolina. Dominion Energy's operating companies would remain separately regulated and locally managed.
NextEra Energy Chairman, President and CEO John Ketchum said the combination would strengthen Dominion Energy's local operations with additional financial resources, supply chain capabilities and infrastructure expertise to help meet growing electricity demand while maintaining affordability and reliability.
“Together, we will be better positioned to partner with states and communities to attract new investment, support new jobs and invest in the all-of-the-above energy infrastructure customers need, including renewables, battery storage, nuclear and gas-fired generation,” said Ketchum.
