Shares of Dominion Energy, Inc. (NYSE: D) surged approximately 9.4% on Monday, climbing from a prior close of $61.73 to trade around $66.96, after NextEra Energy, Inc. (NYSE: NEE) confirmed it has entered into a definitive agreement to acquire Dominion in a landmark all-stock transaction valued at roughly $67 billion.
Under the terms of the deal, Dominion shareholders will receive a fixed exchange ratio of 0.8138 shares of NextEra Energy for each Dominion share they own — representing a premium of approximately 23% over Dominion’s prior closing price. NextEra shareholders would own roughly three-quarters of the combined company.
The deal, unanimously approved by both boards of directors, would create the world’s largest regulated electric utility, serving around 10 million customer accounts across Florida, Virginia, North Carolina, and South Carolina, with a combined generation portfolio exceeding 110 gigawatts.
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A key strategic driver of the transaction is Dominion’s footprint in Northern Virginia’s “Data Center Alley,” home to the world’s highest concentration of hyperscale data centers. With AI-driven electricity demand accelerating rapidly, Dominion had already secured roughly 51 gigawatts of contracted data-center capacity as of early 2026.
The combined company also pledged $2.25 billion in customer bill credits spread over two years post-closing, as soaring electricity costs remain a central concern for consumers.
The deal is expected to close within 12 to 18 months, pending regulatory approvals from federal agencies and utility commissions in Virginia, North Carolina, and South Carolina. Meanwhile, NextEra’s stock fell approximately 6.5% on the news, a typical reaction for an acquirer in a large all-stock deal due to shareholder dilution concerns.
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