The merger remains subject to approvals from multiple agencies, with an anticipated closing in the second half of 2027 and ongoing regulatory processes and proxy materials already filed.

Shareholders of both companies approved the proposed merger earlier in September, setting the stage for a merger that would create the world’s largest regulated electric utility by market capitalization.

Governor Spanberger indicated she would intervene in regulatory review to push for commitments on power affordability, job protections, and clean energy investments.

Dominion Energy Virginia would remain locally led, with its name retained and governance accountable to the State Corporation Commission, while integrating NextEra’s scale.

NextEra Energy and Dominion Energy have proposed an enhanced Virginia benefits package tied to their pending all-stock merger, including doubling residential bill credits for Dominion Energy Virginia customers from two to four years and adding $100 million to the EnergyShare bill assistance program through 2038, along with 1,000 new direct jobs in Virginia.

The plan reaffirms data center protections to ensure data centers pay their fair share and to shield residential and small business customers from related costs.

Economic development would be boosted by a $100 million workforce development fund, a $1 billion annual Virginia Supplier Program over five years, and an annual global energy summit to attract investment and innovation.

Public hearings by the State Corporation Commission are slated to begin in early November, with public comments due shortly after; regulators will decide on the merger thereafter.

Reaction is mixed among lawmakers and officials, with some endorsing benefits and others urging sustained scrutiny; Governor Abigail Spanberger has signaled skepticism about selling a primary utility to an out-of-state company.

Regulatory oversight will continue through the Virginia SCC and federal regulators, with review of rates, plant plans, and transmission costs to protect ratepayers.

The package emphasizes accelerated deployment of solar, storage, and dispatchable resources to advance the Virginia Clean Economy Act and reduce dependence on imported power.

The merger was first disclosed in May and would create the world’s largest regulated electric utility by market capitalization, with NextEra expanding its renewable energy footprint and Dominion continuing as a major Virginia utility.