Electrical utility megamerger is all about the data centers
Consolidation
NextEra’s blockbuster deal with Dominion likely means higher bills for consumers.
The campus of NextEra’s headquarters is seen on Monday in Juno Beach, Fla. Credit: Marco Bello/Getty Images
A proposed merger of the largest utility in the country by market value, NextEra Energy, with the sixth-largest, Dominion, would create a megacompany at a time when data centers and rapid increases in electricity demand are reshaping the industry.
The proposal, announced Monday morning and contingent on state and federal regulatory approval, would result in a company that leads in nearly every aspect of the US power and utility industry, including overall electricity generation, natural gas generation, and renewables.
The $67 billion deal combines NextEra’s size and reach with Dominion’s positioning as the local utility for the world’s largest concentration of data centers in northern Virginia. But the results are likely bad for consumers and the environment, creating a company...
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