RICHMOND, Va. — Dominion Energy announced it had agreed to combine with Florida-based NextEra Energy.
The new company, which would maintain a headquarters in Richmond, would be “the world’s largest regulated electric utility business,” according to a joint press release the companies shared Monday.
“This is a historic moment for our two companies and for the states we are privileged to serve,” NextEra Energy CEO John Ketchum said in a statement. “Electricity demand is rising faster than it has in decades. Projects are getting larger and more complex. Customers need affordable and reliable power now, not years from now. We are bringing NextEra Energy and Dominion Energy together because scale matters more than ever— not for the sake of size, but because scale translates into capital and operating efficiencies. It enables us to buy, build, finance and operate more efficiently, which translates into more affordable electricity for our customers in the long run.”…