NextEra Energy will buy Dominion Energy in an all-stock transaction valued at about $66.8 billion, creating the world’s largest regulated electric utility by market value, as U.S. utilities race to meet surging demand from data centers fuelling the artificial ​intelligence boom. The deal, one of the largest in the U.S. power industry, adds to a wave of consolidation as ‌the rapid data-center buildout lifts power demand for the first time in two decades, opening up a lucrative revenue stream and boosting profit prospects. This year, AES Corp agreed to be acquired by a consortium led by Global Infrastructure Partners and Swedish private-equity firm EQT AB for $33.4 billion. That followed Constellation Energy’s $16 billion deal for Calpine ​and Blackstone’s $11.5 billion deal for TXNM Energy last year. NextEra is one of the world’s largest energy developers and access to ​Dominion’s portfolio would enable it to expand into the PJM Interconnection region, the largest U.S. power grid operator ⁠spanning across 13 states, and capitalize on opportunities in Virginia, one of the biggest data-center markets in the world.

Full report : NextEra, Dominion want to create a massive power company as AI drives energy demand in the US.