NextEra Energy and Dominion discuss merger that could value combined group near $400B

NextEra Energy and Dominion Energy are in advanced discussions about a merger that would create a combined utility valued at roughly $400 billion including debt, with a structure described as primarily stock-based. A formal announcement could arrive as early as May 18, 2026, while the deal would still need FERC and multiple state approvals that analysts expect could take 12 to 24 months.