NextEra Energy Inc. is in talks to acquire Dominion Energy Inc. in a mainly stock transaction that would value Dominion at roughly $76 per share, translating to an estimated $66 billion purchase price. The deal would dwarf previous utility mergers, setting a new benchmark for the sector.

Industry observers note that the proposal signals a strategic push by NextEra to expand its footprint across the United States. By offering a premium equity deal, NextEra could sidestep hefty cash outlays while leveraging Dominion’s existing infrastructure and customer base.

If closed, the transaction would consolidate two of the country’s largest power providers, potentially reshaping competitive dynamics and influencing regulatory scrutiny. Investors will watch closely as the negotiation phase unfolds, given the deal’s scale and its implications for both companies’ balance sheets.