NextEra to acquire Dominion Energy, $67B deal will create largest regulated utility by market value

Gaining access to Dominion's portfolio will allow the company to expand into the PJM Interconnection region, including Virginia, a hotspot for data centers.

By Kevin Killough

Published: May 18, 2026 12:11pm

NextEra Energy plans to buy Dominion Energy. The all-stock deal is valued at $68.8 billion, and once complete, it will create the world's largest regulated utility by market value.

The deal follows a wave of consolidation in the industry amid rising power demands from data centers, which creates a lucrative revenue stream for utilities, NBC News reports.

This year, AES Corp agreed to a $33.4 acquisition by a consortium headed by Global Infrastructure Partners and Swedish private-equity firm EQT AB. Last year, Constellation Energy bought Calpine for $16 billion, and Blackstone bought TXNM Energy for $11.5 billion.

NextEra is one of the world's largest developers of energy. Gaining access to Dominion's portfolio will allow the company to expand into the PJM Interconnection region, including Virginia, a hotspot for data centers.