This audio is auto-generated. Please let us know if you have feedback.
NextEra Energy executives used their Friday morning second-quarter earnings call to tout the benefits of their planned acquisition of Dominion Energy.
NextEra expects the combined companies could grow 11% annually through 2032, which would more than double the combined company's size by that date, according to John Ketchum, NextEra’s chairman, president and CEO. Shareholder-funded bill credits for customers would further sweeten a deal Ketchum said would reduce energy costs in Virginia, North Carolina and South Carolina for decades to come.
“The increased scale and enhanced operating platform of the two companies will help maintain affordability at a time when power demand requires more investment in generation and transmission,” he said. “Buying, building, financing and operating energy infrastructure more efficiently benefits customers over time.”
A filing for merger approval with the Virginia State Corporation Commission has triggered that state's six-month review process; the Virginia SCC has scheduled the first public hearing on the matter for this November. Ketchum said he expects the merger will close in late 2027.
