JUNO BEACH – November 03, 2026 -- NextEra Energy (NYSE: NEE) and Dominion Energy (NYSE: D) have accepted 101 of 117 regulatory conditions exactly as proposed and another 13 with enhancements or modifications. The conditions came from Virginia State Corporation Commission Staff and the Office of the Attorney General Division of Consumer Counsel. The companies set out their position in rebuttal testimony filed with the Commission in support of their proposed combination.

Added safeguards target Dominion Energy Virginia's financial separation

The new measures reinforce the utility's financial separation from affiliated businesses, add independent oversight and strengthen Virginia representation on its board. The companies say the package also protects Dominion Energy Virginia's financial strength while keeping access to NextEra Energy's capital.

For the limited number of provisions not accepted as proposed, the companies offered targeted alternatives. They argue these address the underlying concerns without raising costs or restricting parent-company capital or operational efficiencies that should benefit customers.

Four years of shareholder-funded bill credits anchor the affordability case

The companies state that customers will not pay for the combination. The package includes four years of shareholder-funded residential bill credits and an additional $100 million for EnergyShare, which funds energy assistance and weatherization.

The companies say Virginia's electricity demand growth will require significant investment in generation, transmission and grid infrastructure whether or not the deal proceeds. They contend NextEra Energy's scale and financing capability would help manage those costs.

They cite NextEra's Florida Power & Light Company (FPL) as evidence. FPL's typical residential bills are 37% below the national average and 20% lower than two decades ago in inflation-adjusted dollars. Its reliability is more than 60% better than the national average.

Commitments include 1,000 jobs and up to $5 billion in Virginia supplier spending

The proposed package also includes:

• $100 million for workforce development and skilled-trades training.
• 1,000 new jobs, comprising 600 NextEra Energy jobs and about 400 jobs with suppliers, contractors and service providers.
• Maintaining Dominion Energy's current Virginia employee headcount for at least five years.
• A new shareholder-funded office tower in downtown Richmond, with dual headquarters maintained.
• Up to $5 billion of spending over five years with Virginia-based manufacturers, contractors, suppliers and service providers through a new Virginia Supplier Program.

NextEra Chairman and CEO John Ketchum said: "Virginia should not have to choose between relief on electric bills today and affordable, reliable power tomorrow." Dominion Chair, President and CEO Bob Blue said Dominion Energy Virginia would remain locally led and accountable to the State Corporation Commission.

Companies still expect a second-half 2027 close

The companies say the merger meets Virginia's legal standard that adequate service at just and reasonable rates will not be impaired or jeopardized. They argue the proposal exceeds that standard.

The transaction remains subject to required regulatory approvals and customary closing conditions. The companies continue to expect closing in the second half of 2027.