NextEra is (reportedly) in talks to acquire rival utility Dominion. (Bloomberg)
The deal: The country’s biggest utility (by market capitalization) could soon get even bigger—the combined enterprise would be worth over $400B, and it would increase NextEra’s PJM footprint.
The context: This deal would offer NextEra a major market comeback. In 2020, the company (unsuccessfully) tried to buy Duke. Recently, the broader power industry has seen a flurry of massive deals, including Constellation’s $16B acquisition of Calpine Corp.