PBS NewsHour - The Latest | NextEra seeks Dominion to create massive power company as AI drives energy demand by Michelle Chapman, Associated Press

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NextEra Energy announced an all‑stock acquisition of Dominion Energy valued at roughly $67 billion, a merger that would create the world’s largest regulated electric‑utility by market capitalization and serve about 10 million utility customers across Florida, Virginia, North Carolina and South Carolina. Dominion, based in Richmond, powers hundreds of data centers and provides electricity to 3.6 million homes and businesses plus natural‑gas service to 500,000 customers, while NextEra’s Florida Power & Light supplies electricity to roughly 12 million Floridians and recently expanded its partnership with Google Cloud to build new data‑center campuses. The deal, driven by rising AI‑related energy demand, offers Dominion shareholders 0.8138 NextEra shares per Dominion share, a continuing dividend and a one‑time $360 million cash payment; post‑transaction ownership will be 74.5 % NextEra and 25.5 % Dominion, with NextEra CEO John Ketchum becoming chairman and CEO of the combined company. The merged entity will retain dual headquarters in Juno Beach, FL, and Richmond, VA, trade under the “NEE” ticker, and is expected to close within 12‑18 months pending shareholder and regulatory approvals, including from the Nuclear Regulatory Commission.

Read more: https://www.pbs.org/newshour/nation/nextera-seeks-dominion-to-create-massive-power-company-as-ai-drives-energy-demand

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