NextEra Energy and Dominion Announce Merger to Create Utility Powerhouse

The companies said the deal would expand power infrastructure across four states and respond to rising electricity demand.

Two Dominion Energy buildings in downtown Richmond, Va., on April 28, 2015. Steve Helber/AP Photo

NextEra Energy and Dominion Energy have announced merger plans in an all-stock transaction that would create what the companies describe as the world’s largest regulated electric utility business by market capitalization and one of North America’s largest energy infrastructure operators.

The companies said on May 18 that the combined utility would serve about 10 million customer accounts across Florida, Virginia, North Carolina, and South Carolina, and operate more than 110 gigawatts of power generation.