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Dominion Surges 10% While NextEra Falls 5% on Landmark Merger Announcement

The utility sector was the center of attention today after NextEra Energy and Dominion Energy announced a definitive all-stock merger agreement that would create the world's largest regulated electric utility business. The market reaction was textbook for a deal of this nature — Dominion shares jumped 10% as the acquired party, while NextEra fell 5% as investors weighed the cost and complexity of absorbing a company of Dominion's scale.

Under the terms of the agreement, Dominion shareholders will receive 0.8138 shares of NextEra Energy for each share they own, with NextEra shareholders retaining approximately 74.5% of the combined company and Dominion shareholders holding the remaining 25.5%. Dominion shareholders will also receive a one-time cash payment of $360 million at closing and continue to collect their current quarterly dividend until the deal closes.

The combined entity would own 110 gigawatts of generation, serve approximately 10 million utility customer accounts across Florida, Virginia, North Carolina and South Carolina, and carry a combined rate base of $138 billion expected to grow at roughly 11% annually through 2032. The companies together claim the top position globally in renewables and battery storage, first in US gas generation and second in US nuclear generation.

The deal is structured as immediately accretive to NextEra's adjusted earnings per share at closing, with 9% or better adjusted EPS growth targeted through 2032 and beyond. The combined business will be more than 80% regulated. Dominion customers in Virginia, North Carolina and South Carolina are being offered $2.25 billion in bill credits spread over two years post-close.

John Ketchum will lead the combined company as chairman and CEO, with Dominion's Robert Blue serving as president and CEO of regulated utilities. Dominion's utility brands and roughly 15,000 employees are to be retained. The transaction requires approval from both sets of shareholders, federal energy regulators and multiple state commissions, with closing expected in 12 to 18 months.
A U.S. District Court has granted a preliminary injunction allowing construction to resume on the Coastal Virginia Offshore Wind project while Dominion Energy’s legal challenge continues. The decision permits work on the project to move forward as the lawsuit against the federal agency action proceeds, enabling the company to focus on restarting construction safely and keeping the project on track to begin delivering power in the coming weeks.

The Coastal Virginia Offshore Wind project is being developed by Dominion Energy and will consist of 176 offshore wind turbines with a total capacity of 2.6 gigawatts. Once completed, the project is expected to generate enough electricity to power up to 660,000 homes. Dominion Energy described CVOW as a key component of its diversified energy supply strategy, aimed at meeting rising regional demand while advancing large-scale renewable generation.

Source: Dominion Energy press release, January 16, 2026.
Dominion Energy (NYSE: D) will host its fourth-quarter 2025 earnings call at 11 a.m. ET on Monday, Feb. 23, 2026.
Dominion Energy said a 90-day suspension ordered by the U.S. Department of the Interior on work for the Coastal Virginia Offshore Wind project threatens grid reliability, national security, and thousands of jobs. The company argued the project is critical to meeting rapidly growing electricity demand driven by military installations, data centers, and AI-related infrastructure, and noted the project has undergone extensive regulatory and security reviews and is close to delivering 2,600 MW of power.

Source: Business Wire, December 22, 2025
Dominion Energy Unveils Mobile Battery System as Clean Alternative to Diesel Generators

Dominion Energy announced the deployment of a first-of-its-kind mobile battery energy storage system designed to replace diesel generators with a clean, quiet, and emissions-free power source. The company marked the launch with a ribbon-cutting event in Richmond, Virginia.

The Green Grid 90 kWh mobile battery energy storage system generates electricity from rooftop solar panels and stores it in a lithium-ion battery, while also allowing charging from the grid. The trailer-mounted units are silent, fuel-free, towable by a mid-sized SUV, and can be linked together to meet higher power demands. They are intended for use at festivals, concerts, weddings, remote worksites, electric vehicle charging, and as backup power during outages for utilities and emergency management agencies.

Dominion Energy said the system is the first non-diesel mobile battery solution to meet stringent safety standards, including UL 9540 certification, enabling it to be insured. A single unit can power a medium-sized food truck for up to nine hours. Prototype units were previously used to support emergency communications during Florida’s recovery efforts following Hurricanes Helene and Milton in 2024.

The system was invented by Dominion Energy and is designed, manufactured, sold, and serviced by Power Up Connect, a Maryland-based charging technology company. Dominion Energy Virginia plans to position multiple units at its facilities, starting with its Chesterfield training center.
Dominion Energy introduced a new online hub designed to help customers access energy-saving tools and bill-assistance programs as colder weather drives up electricity use. The hub, available at dominionenergy*com/SaveMore, gathers all efficiency programs, usage-tracking tools and payment-assistance options in one place to make support easier to find.

The company highlighted offerings such as peak-time rebates, virtual energy audits, home evaluations, usage alerts and budget billing. Assistance programs include up to $600 in heating-bill support through EnergyShare and no-cost home-improvement measures for qualifying customers.

Dominion Energy said the simplified hub is meant to help more households manage costs and conserve energy during the winter season.
Dominion Energy (NYSE: D) reported third-quarter results

Dominion Energy (NYSE: D) reported third-quarter 2025 GAAP net income of $1.0 billion, or $1.16 per share, up from $934 million ($1.09 per share) a year earlier. Operating earnings (non-GAAP) were $921 million, or $1.06 per share, compared with $836 million ($0.98 per share) in Q3 2024. The improvement reflects stronger operating performance across segments.

The company narrowed its full-year 2025 operating earnings guidance to a range of $3.33–$3.48 per share, maintaining the original midpoint of $3.40, and expects results to be at or above this midpoint assuming normal weather for the remainder of the year. Dominion reaffirmed its long-term operating EPS growth target of 5–7% through 2029 based on a 2025 midpoint of $3.30 per share (excluding RNG 45Z credits), as well as its current credit and dividend guidance.

The difference between GAAP and operating results primarily relates to non-cash items such as gains and losses from nuclear decommissioning trust funds, mark-to-market impacts from economic hedging, and other adjustments.
Dominion Energy, Inc. (NYSE: D) announced that on September 29, 2025, it entered into an underwriting agreement for the sale of $625 million of its 2025 Series A Junior Subordinated Notes due 2056 and $625 million of its 2025 Series B Junior Subordinated Notes due 2056, both as additional issuances to series first issued in August 2025, bringing total outstanding amounts to $1.45 billion and $1.325 billion respectively.
Dominion Energy is marking the one-year anniversary of Hurricane Helene by reflecting on the unprecedented recovery efforts in South Carolina and preparing for the peak of the current storm season. The 2024 storm knocked out power to more than 446,000 customers—over half of Dominion’s customer base in the state—prompting the largest restoration effort in company history. Within two weeks, crews replaced more than 1,000 transformers, 2,300 poles, and 7,000 spans of wire, supported by 4,000 workers from a dozen states and hundreds of employee volunteers.

In response to lessons learned, Dominion has developed a new volunteer app that allows employees to pre-register for storm support roles, from bilingual assistance to logistics and supply distribution. More than 230 employees have already signed up. Company leaders highlighted the resilience of workers and the generosity of local communities, noting that the innovations born out of Helene will strengthen Dominion’s ability to respond to future storms.
Dominion Energy Posts Higher Q2 Earnings, Reaffirms 2025 Outlook

Dominion Energy reported Q2 2025 GAAP net income of $760 million ($0.88 per share), up from $563 million ($0.64 per share) a year earlier. Operating earnings rose to $649 million ($0.75 per share) from $567 million ($0.65 per share) in Q2 2024.

The company reaffirmed its full-year 2025 operating earnings guidance of $3.28 to $3.52 per share and maintained its previous outlook on earnings, credit, and dividends.
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05-18-26European Investor