Dominion, NextEra propose $1 billion-a-year Virginia supplier program

Dominion, NextEra propose $1 billion-a-year Virginia supplier program

Mon, September 14, 2026 at 4:38 PM GMT+3 1 min read

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Sept 14 (Reuters) - Dominion Energy and NextEra Energy on Monday said they would establish a ‌Virginia supplier program worth up to $1 billion ‌annually for five years if their proposed merger is approved.

They ​announced merger plans in May, as rising power demand from data centers, electric vehicles and other industries drives a renewed wave of utility consolidation.

• NextEra and ‌Dominion said the ⁠new program would direct spending toward contractors, suppliers and service providers in Virginia.

• ⁠They proposed extending monthly $10 bill credits to four years from two and increasing Dominion's low-income financial assistance ​by $100 million ​through 2038.

• The commitments ​include a $100 million workforce ‌development fund, an annual energy summit in the state and maintaining the current employee headcount there for five years.

• The combined company will get a shareholder-funded co-headquarters tower in state capital Richmond.

• Virginia ‌Governor Abigail Spanberger said in ​August she would intervene in ​regulatory review of ​the merger, pressing for commitments on ‌power affordability, job protections and ​clean energy ​investments.

• Shareholders of both companies approved the proposed $66.8 billion merger earlier this month. The deal, awaiting ​regulatory approvals, ‌is expected to close in the second half ​of 2027.

(Reporting by Sumit Saha in Bengaluru; ​Editing by Joyjeet Das)