AI’s power play: NextEra-Dominion megamerger could steer America's data-centre future

NextEra Energy and Dominion Energy unveiled a $420bn megamerger to consolidate the eastern US electricity grid that underpins the AI data‑centre boom in Virginia’s “data centre alley,” backed by a claimed 130 GW of data‑centre demand. The deal values Dominion at about $76 a share (enterprise value ~ $124bn including $56.7bn debt) and faces a lengthy regulatory path—roughly 18 months—with a $4.8bn break fee if blocked. To ease consumer fears over higher power costs amid the AI infrastructure rush, NextEra has pledged $2.2bn in bill credits for customers in Dominion’s service areas.