NextEra Energy executives highlighted the benefits of its proposed acquisition of Dominion Energy during Friday morning's second-quarter earnings call. NextEra Chairman, President and CEO John Ketchum said the combined company is expected to achieve an 11% annual growth rate by 2032, when it will more than double in size. Ketchum said shareholder-funded bill credits will further enhance the deal's appeal and will lower energy costs in Virginia, North Carolina and South Carolina for decades to come.

"The increased scale and enhanced operating platform of the combined company help maintain affordability at a time when electricity demand requires increased investment in generation and transmission," Ketchum said. "More efficient purchasing, building, financing and operating of energy infrastructure will benefit customers over the long term."

The merger approval application filed with the Virginia State Corporation Commission has triggered a six-month review process in the state; the Virginia State Corporation Commission has scheduled the firstpublic hearingfor November. Ketchum expects the merger to be completed by the end of 2027.

Key figures — NextEra Energy Q2 2026
35.1 GW
Total development pipeline for NextEra Energy Resources.
$2.25 billion
in shareholder-funded bill credits for Dominion Energy customers.
90,000
New customers added by Florida Power & Light since June 2025.
1,100 MW
of existing renewable generation contracted under new agreements since January 2026.

The company continues negotiations with the U.S. and Japanese governments on up to 9.5 GW of gas-fired power projects planned at data center "hubs" in Texas and Pennsylvania. Although company executives previously told analysts they expected to finalize agreements this spring, Ketchum acknowledged final agreements are not yet complete.

"Negotiations are still making progress," he saidin remarks to analysts, "It's just that when two big countries get together, things don't always move on the planned timeline. I don't think it warrants over-interpretation."

Ketchum said NextEra is in discussions with hyperscale data center operators, utilities and the U.S. government about 30 such hubs, but did not disclose specifics on other hub projects.

The company's energy development unit, NextEra Energy Resources, added3.6 GW of new generation and storage projectsin the second quarter, including 0.9 GW of solar, 2 GW of battery storage and 0.7 GW of wind, according to the company's Friday presentation. Ketchum said storage has become a significant growth area for the company.

Ketchum also highlighted the company's rising returns as it signs new contracts for some older generation assets. NextEra Energy Resources has recontracted more than 1,100 MW year-to-date, with contract prices in the quarter about $20/MWh higher than previous contracts. Ketchum said Energy Resources has a 7.5 GW recontracting opportunity by 2032, including 1.5 GW of nuclear. The Duane Arnold nuclear plant remains on track to return to service in early 2029.

At subsidiary Florida Power & Light, weather-adjusted retail sales grew 0.6% year-over-year, driven primarily by population growth, said NextEra Energy Executive Vice President and CFO Mike Dunne. The utility is in "deep discussions" on 12 GW of large loads and expects to serve 8 GW of large loads by 2032. Ketchum said FPL expects to announce at least one large load deal by the end of the year under newly approved large load rates.

Company executives did not discuss a recent$150 million settlement proposalon Friday's call, which aims to resolve a shareholder lawsuit alleging Florida Power & Light misled investors regarding political activities.