NextEra Energy to Expand Virginia Benefits in Dominion Deal
The two utilities proposed doubling residential bill credits to four years and adding 1,000 direct Virginia jobs as part of their pending all-stock combination.
NextEra Energy, Inc. (NEE) and Dominion Energy, Inc. (D) announced an expanded Virginia benefits package on Sept. 14, 2026, as part of their proposed all-stock combination, saying the changes respond to feedback from policymakers and other stakeholders.
The Juno Beach, Florida-based energy company and the Richmond-based utility would seek to double residential bill relief in Virginia, extending a $10 monthly credit from two years to four by redirecting the portion of credits that would otherwise go to large-scale data centers and increasing the aggregate shareholder-funded Virginia credit amount. They would also expand EnergyShare, Dominion Energy’s shareholder-funded energy bill assistance program, by $100 million through 2038 and reaffirm a commitment to hold customers harmless from merger costs.
“This is a Virginia-first package, and it starts with customers,” said John Ketchum, chairman, president, and CEO of NextEra Energy.
The companies said long-term affordability would come from the combined company’s scale to buy, build, finance, and operate more efficiently, with the Virginia State Corporation Commission continuing to set base rates every two years. They pointed to Florida Power & Light Company, NextEra’s utility subsidiary, whose typical residential bills are 37% below the national average and whose reliability is more than 60% better than the national average.
The package also reaffirmed support for the State Corporation Commission, the General Assembly, and the governor’s efforts to protect residential and small-business customers from costs associated with serving data centers.
On jobs and infrastructure, NextEra Energy would maintain current Virginia employee headcount for five years, add 600 new NextEra jobs in the state, and work with suppliers expected to bring 400 additional jobs. The companies would build, at shareholders’ expense, a new NextEra office tower in Richmond beside the existing Dominion Energy headquarters as part of a combined co-headquarters and host an annual global energy summit in Virginia.
They would also contribute $100 million to a Virginia workforce development fund and establish a Virginia Supplier Program of up to $1 billion annually for five years. More than nine other companies said they intend to establish or expand a Virginia presence if the combination is approved.
Dominion Energy Virginia would keep its name, local leadership under Ed Baine, a Virginia-based board, and separate regulation by the State Corporation Commission. Robert Blue, chair, president, and CEO of Dominion Energy, said the same local teams would continue serving the Commonwealth.
The companies said the proposed combination remains subject to regulatory approvals, the Hart-Scott-Rodino waiting period, and other customary closing conditions. They submitted additional information on the enhanced package to the State Corporation Commission and continue to expect the transaction to close in the second half of 2027.