WASHINGTON (dpa-AFX) - NextEra Energy, Inc. (NEE), an electric power and energy infrastructure company, and Dominion Energy, Inc. (D), an electric utility company, on Tuesday announced additional customer and financial protections for their proposed merger.
The proposed merger completion expected in the second half of 2027.
The companies said they have accepted 101 of the 117 conditions proposed by Virginia regulators and accepted another 13 with modifications.
The additional protections include four years of shareholder-funded customer bill credits, $100 million for energy assistance and $100 million for workforce training.
The companies also plan to create 1,000 new jobs, maintain Dominion's current Virginia workforce for at least five years and spend up to $5 billion with Virginia-based businesses over five years.
The companies will also build a new office tower in downtown Richmond and maintain dual headquarters.
The additional safeguards include stronger financial separation of Dominion Energy Virginia from affiliated businesses, independent oversight and greater Virginia representation on its board. Dominion Energy Virginia will remain locally led and separately regulated.
NextEra Energy is 0.01% lesser at $85.02 on the New York Stock Exchange.
Dominion Energy is 0.10% lesser at $67.68 on the New York Stock Exchange.
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