Sept 3 (Reuters) – Shareholders of Dominion Energy and NextEra Energy approved the companies’ proposed $66.8 billion merger deal, according to regulatory filings on Thursday.
The companies had announced their plan to merge in May, which is expected to create one of the world’s largest electric utilities during an expansion of energy-intensive data centers to support artificial intelligence.
Virginia-based Dominion serves the largest concentration of data centers globally.
A resurgence in electricity demand and the growing electrification of transportation and other industries has sparked a wave of major utility mergers in recent years after nearly two decades of stagnant power consumption.
The deal, which is pending regulatory approvals, will create the third-biggest U.S. energy company, behind oil majors Exxon Mobil and Chevron, and an entity with an enterprise value topping the next two largest U.S. power companies combined.
“While shareholder approval is an important step forward, there is still work ahead as we move through state and federal regulatory approval processes,” said NextEra CEO John Ketchum in an SEC filing.
Virginia Governor Abigail Spanberger said in August she would intervene in the regulatory review of NextEra’s merger with Dominion, pressing for commitments on electric bill affordability, job protections and clean energy investments.
The governor said she would formally become a party to the case before the Virginia State Corporation Commission, giving her access to filings and the ability to raise questions and concerns about the transaction.
While Maine Governor Janet Mills also said in the same month that the deal would give NextEra excessive control over New England energy assets, limit competition and make it harder to lower energy costs.
A Maine legislation in April had imposed a moratorium on new data centers as concerns grew over their impact on power bills and the environment.
Brazil Energy Insight 
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