RICHMOND, VA – The Commonwealth stands to gain thousands of jobs, $2.27 billion in new economic activity at peak, and $1.87 billion in bill credits for Virginia consumers from the proposed merger between Dominion Energy and NextEra Energy.

The benefits from this combination include year-over-year positive annual economic activity, such as:

• $720.3 million in economic output from $1.87 billion in shareholder-funded bill credits to Virginia customers at peak in year one of a four-year program.
• $14.3 million in average annual economic output from the $35 million in increased charitable giving over five years.
• $959.2 million in economic output from construction of the new NextEra Energy headquarters tower.
• $332 million in ongoing economic output from 600 new NextEra Energy jobs.
• $205.2 million in ongoing economic output from 400 new supplier jobs.
• $37.1 million in average annual economic output from the $100 million workforce development fund over five years.

Key economic contributions that will be derived from the merger are highlighted in a new independent economic impact study conducted by Mangum Economics. It shows the merger would support more than 9,300 positions at the peak of project construction activities for the NextEra Energy headquarters tower in Richmond and in year one of other programs.

The deal also provides $100 million to directly support workforce development in Virginia and a $100 million expansion of the EnergyShare financial assistance program to help individuals and families pay energy bills.

Another direct consumer benefit from the merger is $1.87 billion in shareholder funded bill credits for business and residential customers over several years. For the typical Virginia residential customer, that will yield $500 in bill credits. The merger will also provide other long-term savings due to greater efficiencies and scale from the combined operation.

“Virginia’s future economic success depends on our ability to provide reliable, affordable energy to households, businesses, manufacturers, and emerging industries. Reaching that goal requires strategic investments in critical infrastructure systems to boost energy generation capacity and modernize the transmission grid to meet growing demand,” said Brad N. Hall, President and CEO of the Virginia Chamber of Commerce, which commissioned the Mangum Economics study. “This new analysis demonstrates that the proposed merger of Dominion Energy and NextEra Energy will deliver significant benefits for Virginians through new investment, job creation, workforce development support, and enhanced energy reliability to meet growing residential, commercial, and industrial demand and help ensure Virginia remains economically competitive for decades to come.”

Additional benefits from the merger that are referenced in the Mangum Economics analysis include:

• A commitment by the energy companies to spend up to $5 billion over five years with Virginia-based manufacturers, contractors, suppliers, and service providers through a new Virginia Supplier Program.
• An 18-month job protection pledge after deal closing for Dominion Energy employees and a commitment that the combined company would maintain current employee headcount levels in Virginia for five years.
• Expanded investments in charitable giving and community initiatives – $7 million annually over five years – across the Commonwealth.

Essential infrastructure investments that enhance Virginia’s economic competitiveness – including those focused on energy security, independence, and grid modernization – are among the core principles of the Virginia Chamber’s Blueprint Virginia 2035 document that is based on input from business leaders and stakeholders across the Commonwealth who are committed to building a prosperous economic future with a high quality of life for generations to come.

The Dominion Energy and NextEra Energy merger aligns with those principles as well as state regulatory standards and it is consistent with the free-market principles that have helped our Commonwealth and nation thrive.

The Virginia State Corporation Commission is scheduled to hold a public hearing on Thursday, November 5, 2026, as part of the merger evaluation process. Leaders from the Virginia Chamber of Commerce will attend the hearing to offer testimony in support of the proposed merger.

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 About the Virginia Chamber of Commerce:

The Virginia Chamber of Commerce is the largest business advocacy organization in the Commonwealth, with more than 30,000 members. The Virginia Chamber is a non-partisan organization that champions the interests of the business community in the legislative, regulatory, and political arenas to serve as the catalyst for positive change in all areas of economic development and competitiveness for Virginia. Learn more at www.vachamber.com.