Announces Enhanced Virginia Benefits Package for Merger with Dominion Energy

NextEra Energy and Dominion Energy have announced an enhanced benefits package for their proposed merger, as detailed in a recent SEC filing. The companies confirmed their commitment to double residential bill credits from two years to four years, providing $10 per month in relief to customers. This extended credit will be achieved by redirecting a portion of credits that would otherwise go to large data centers and increasing the total shareholder-funded Virginia customer credit amount.

In addition to customer benefits, the companies are committing to establishing Virginia as a global energy leader. This includes bringing 1,000 new direct jobs to the Commonwealth, broken down as 600 NextEra Energy jobs and an expected 400 supplier jobs. NextEra Energy also plans to construct a new shareholder-funded co-headquarters tower in Richmond to accommodate these new roles and support existing Dominion Energy employees.

The enhanced package also outlines significant investments in workforce development and the supply chain. A $100 million workforce development fund will be established, alongside an annual Virginia Supplier Program worth up to $1 billion over five years. The companies reaffirmed their support for the State Corporation Commission’s efforts to protect residential and small business customers from costs associated with serving data centers, aligning with existing regulations and recently passed Virginia legislation.

NextEra Energy and Dominion Energy intend for the proposed combination to close in the second half of 2027, subject to required regulatory approvals. The new commitments made by the companies are contingent upon the approval and closing of this proposed combination.