NextEra Energy Inc. and Dominion Energy Inc. announced an expanded package of benefits for Virginia consumers and the state as they seek regulatory approval for their proposed $67 billion merger. The announcement on September 14, 2026, aims to address concerns from policymakers and stakeholders, including Virginia Governor Abigail Spanberger, who had previously pressed for commitments on power affordability, job protections, and clean energy investments.
The revised proposal includes doubling residential bill credits from $10 per month for two years to $10 per month for four years. The companies also pledged to increase Dominion's low-income financial assistance program, EnergyShare, by $100 million through 2038 and reaffirmed their commitment to ensure customers would not bear any merger costs. Additionally, they plan to redirect bill credits that would otherwise go to large data centers towards residential customer relief, aligning with recent Virginia legislation.
Economically, the package promises to bring 1,000 new direct jobs to Virginia, consisting of 600 new NextEra Energy positions and 400 additional jobs through suppliers. The companies also committed to maintaining current Virginia employee headcount levels for five years. A significant investment includes a new shareholder-funded co-headquarters office tower in Richmond, adjacent to Dominion Energy's existing building, to support various energy-related operations. Furthermore, a $100 million workforce development fund and an annual global energy summit in Virginia are planned.
To boost local businesses, the companies proposed a Virginia Supplier Program worth up to $1 billion annually for five years, aimed at cost-competitive contractors, suppliers, and service providers in the state. This program has already garnered interest from over nine other companies intending to establish or expand their presence in Virginia if the merger is approved. The merger, valued at $66.8 billion to $67 billion, is expected to close in the second half of 2027, pending regulatory approvals.
