Dominion and NextEra Pledge Extra Bill Credits and Jobs if Merger Is Approved

Dominion Energy and NextEra Energy on Monday announced a revised package of benefits they say their proposed merger would bring Virginia customers, including two additional years of residential bill credits and hundreds of new jobs.

Under the updated proposal, an average residential customer using 1,000 kilowatt-hours a month would receive a $10 monthly bill credit for four years, up from the two years outlined when the companies announced the deal in May. Smaller businesses and churches would receive credits for two years. Combined bill credits would total a shareholder-funded $2.25 billion, with about $1.78 billion directed to Virginia customers, according to filings with the State Corporation Commission.

The companies said much of the extended residential credit would come from shifting credits that originally would have gone to large data centers, and that shareholders might also contribute about $90 million. They pledged to maintain Dominion's Virginia headcount of 10,431 employees for at least five years, with NextEra adding 600 jobs and suppliers expected to add 400 more.

Dominion and NextEra also said customers will not pay merger costs and that Dominion Energy Virginia would remain Richmond-based with rates set by the SCC. Clean Virginia called the late changes evidence the original application was incomplete and said approval must still rest on whether the change in control risks reliable service at affordable rates.

The SCC is expected to begin hearings in November and decide by January. The companies anticipate closing in the second half of 2027 if approvals are secured.