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Dive Brief:
NextEra Energy plans to acquire Dominion Energy in an all-stock transaction announced Monday, potentially creating the largest regulated electric utility in the world — with 10 million customers in four states — if the deal passes muster with three state and two federal regulatory commissions.
The companies have proposed $2.25 billion in bill credits for Dominion customers in Virginia, North Carolina and South Carolina, and they say all customers would see benefits from “enhanced scale in operations, procurement, construction and financing.”
The combined company would have a more than 130-GW large-load pipeline of projects and a rate base of $138 billion, which it expects to grow at approximately 11% through 2032, according to the deal announcement.
