Shareholders of US utility groups NextEra Energy and Dominion Energy have approved the companies’ proposed $66.8bn merger, according to regulatory filings on 3 September.
Each company put the transaction to a separate special meeting. Dominion Energy said every proposal on its ballot passed, as certified by the independent inspector of elections, and that no broker non-votes were recorded on any item.
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NextEra Energy’s meeting, held on 3 September, approved three management proposals set out in the joint proxy statement/prospectus lodged with the Securities and Exchange Commission on 28 July 2026.
The votes relate to a merger agreement dated 15 May 2026 between the two utilities and two wholly owned NextEra Energy subsidiaries, WG Development Corp and CS Holdco.
Announced in May 2026, the all-stock deal gives Dominion Energy shareholders a fixed exchange ratio of 0.8138 NextEra Energy shares for each share they hold when the transaction closes. That leaves NextEra Energy investors with roughly 74.5% of the enlarged group and Dominion Energy investors with around 25.5%.
NextEra Energy president and CEO John Ketchum told company employees: “We have reached an important milestone in the proposed combination of NextEra Energy and Dominion Energy. Today, shareholders of both companies approved the proposed combination, marking an important step toward bringing our companies together.”
According to the two utilities, the tie-up will produce the world’s largest regulated electric utility business, backed by what they call North America’s premier energy infrastructure platform and developer.
More than 80% of the enlarged group will be regulated, and it will supply around ten million utility customer accounts in Florida, Virginia, North Carolina and South Carolina, while owning 110GW of generation drawn from a broad mix of energy sources.
Ketchum said: “Both are defined by talented people, strong cultures and a shared commitment to operational excellence. That is what makes this proposed combination so compelling. Together, we will be better positioned to meet America’s growing electricity demand with the scale, expertise and capabilities needed for the future.”
The merged business will keep the NextEra Energy name and its New York Stock Exchange ticker (NEE), running from twin headquarters in Juno Beach, Florida, and Richmond, Virginia, alongside Dominion Energy South Carolina’s existing operational base in Cayce, South Carolina.
The Dominion Energy Virginia, Dominion Energy North Carolina and Dominion Energy South Carolina brands will be retained, and Ketchum will chair and lead the combined company as CEO.
State and federal regulatory clearances are still outstanding. Completion remains scheduled for the second half of 2027 (H2 2027), and the two utilities will continue to operate as separate and independent companies until then.
The merger is expected to create one of the world’s largest electric utilities at a time of rapid growth in energy-intensive data centres built to support AI. The combination would place the enlarged group third among US energy companies, behind oil giants ExxonMobil and Chevron.
The deal has drawn political scrutiny at state level. Virginia Governor Abigail Spanberger signalled in August that she intended to take part in the regulatory review, seeking assurances on the affordability of electricity bills, the safeguarding of jobs and investment in clean energy.
By registering as a party to the proceedings at the Virginia State Corporation Commission, she said, she would be able to see filings in the case and put questions and concerns to the parties involved.
Objections surfaced further north in the same month, when Maine Governor Janet Mills warned that NextEra would end up with too much sway over energy assets in New England, curbing competition and complicating efforts to reduce energy costs.
Maine adopted legislation in April halting the development of new data centres, a response to mounting unease about what such facilities mean for electricity bills and the environment.
