Dominion, NextEra plan merger to create largest electric utility

(The Center Square) – Dominion Energy announced Monday it plans to combine with Florida-based NextEra Energy in a deal the companies say would create the world’s largest regulated electric utility business. The all-stock transaction would combine major utility operations across Virginia, North Carolina, South Carolina and Florida while placing the merged company under the NextEra Energy name and New York Stock Exchange ticker NEE. The companies said Dominion customers in Virginia, North Carolina and South Carolina would receive $2.25 billion in bill credits spread over two years after the deal closes. The merger would keep dual headquarters in Richmond and Juno Beach, Florida, according to the companies. Dominion Energy President and CEO Robert Blue would become president and CEO of the combined regulated utilities business and serve on the board of directors, while NextEra Chairman and CEO John Ketchum would lead the comb