NextEra Energy and Dominion Energy Announce Enhanced Virginia Benefits Package for Proposed Merger

Overview

On September 14, 2026, NextEra Energy, Inc. ($NEE) filed a Form 425 communication regarding its pending merger agreement with Dominion Energy, Inc. ($D). The filing discloses an enhanced Virginia stakeholder benefits package designed to support state regulatory approval from the Virginia State Corporation Commission (SCC).

Key Highlights of the Enhanced Benefits Package

• Expanded Bill Relief: Proposes doubling residential bill credits from two years to four years ($10/month) by redirecting data center credit allocations and increasing aggregate shareholder funding.
• Low-Income Customer Support: Commits an additional $100 million to Dominion Energy's shareholder-funded EnergyShare program through 2038.
• Workforce and Job Commitments: NextEra commits to maintaining existing Virginia headcount for five years, adding 600 direct NextEra jobs and 400 supplier jobs, and investing $100 million into a Virginia workforce development fund.
• Co-Headquarters & Infrastructure: Construction of a new shareholder-funded NextEra Energy co-headquarters office tower in downtown Richmond, adjacent to Dominion Energy's current headquarters.
• Supplier Commitments: Launch of a five-year Virginia Supplier Program with spending commitments of up to $1 billion annually.
• Governance & Local Accountability: Dominion Energy Virginia will maintain its name, local leadership (led by Ed Baine), a board composed solely of Virginia residents, and separate regulatory oversight by the SCC.

Transaction Timeline & Conditions

The proposed merger remains subject to standard regulatory approvals, expiration of the Hart-Scott-Rodino waiting period, and approval by the SCC. The companies continue to anticipate closing the transaction in the second half of 2027.