Dominion Energy, Inc.
Acquisitions
5
Major Deals Covered
$66.8B
Disclosed Deal Value
Dominion Energy's largest disclosed acquisition here is Dominion Energy (by NextEra Energy, pending) for $66.8B in 2026. This page covers 5 major deals from 2000 to 2026, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Consolidated Natural Gas Company | 2000 | Undisclosed | Dominion Energy acquired Consolidated Natural Gas Company in 2000. |
| Louis Dreyfus Natural Gas Company | 2001 | Undisclosed | Dominion Energy acquired Louis Dreyfus Natural Gas Company in 2001. |
| Questar Corporation | 2016 | Undisclosed | Added natural gas distribution in Utah, Wyoming and Idaho plus interstate pipeline assets. |
| SCANA Corporation | 2019 | Undisclosed | Acquired the South Carolina electric and gas utility after the abandoned V.C. Summer nuclear expansion left SCANA under financial and regulatory pressure. |
| Dominion Energy (by NextEra Energy, pending) | 2026 | $66.8B | All-stock combination announced May 18, 2026; Dominion holders receive 0.8138 NEE shares per share plus a pro-rata share of $360 million cash. |
2026
$66.8B
All-stock combination announced May 18, 2026; Dominion holders receive 0.8138 NEE shares per share plus a pro-rata share of $360 million cash.
Would create what the companies describe as the world's largest regulated electric utility business.
Approved by shareholders September 3, 2026; regulatory approvals pending as of October 1, 2026.
2019
Acquired the South Carolina electric and gas utility after the abandoned V.C. Summer nuclear expansion left SCANA under financial and regulatory pressure.
Created Dominion Energy South Carolina and added customers in a fast-growing region.
Closed in January 2019 with customer refunds and rate concessions; SCANA's North Carolina gas utility (PSNC) was later sold to Enbridge.
2016
Added natural gas distribution in Utah, Wyoming and Idaho plus interstate pipeline assets.
Diversified Dominion beyond the East Coast.
Questar Pipelines was sold to Southwest Gas in 2021, and Questar Gas was sold to Enbridge in 2024.
2001
Dominion Energy acquired Louis Dreyfus Natural Gas Company in 2001.
2000
Dominion Energy acquired Consolidated Natural Gas Company in 2000.
Dominion's growth plan is regulated capital investment: offshore wind (CVOW), solar and storage required under the 2020 Virginia Clean Economy Act, new natural gas generation for reliability, transmission upgrades for data center demand, nuclear license extensions at Surry and North Anna, and exploration of small modular reactors at North Anna with Amazon. If the NextEra deal closes, this capital plan would be funded within a larger combined balance sheet.
Dominion earns money as a cost-of-service regulated utility. It invests capital in power plants, transmission lines, substations and distribution networks; state regulators such as the Virginia State Corporation Commission (SCC) and the South Carolina Public Service Commission set customer rates that let it recover prudent operating costs and earn an authorized return on equity on that invested capital (its rate base). Fuel costs are largely passed through to customers without markup, so earnings growth comes mainly from growing the rate base. A smaller Contracted Energy segment, including the Millstone nuclear station in Connecticut, sells power under contracts.
Major transactions include Consolidated Natural Gas (2000), Questar (2016), SCANA (2019), the 2020 gas transmission sale to Berkshire Hathaway Energy, the roughly $14 billion sale of gas utilities to Enbridge (2024), and the pending 2026 combination with NextEra Energy.
Dominion acquired South Carolina utility SCANA Corporation for $14.6 billion in an all-stock deal, resolving SCANA's failed V.C. Summer nuclear expansion project, providing customer bill relief, and expanding Dominion's regulated customer base into South Carolina.
In July 2020 Dominion agreed to sell its gas transmission and storage business, including a stake in Cove Point LNG, to Berkshire Hathaway Energy in a deal originally valued at about $9.7 billion including debt. The Questar Pipelines portion was later sold to Southwest Gas instead, and Dominion sold its remaining Cove Point stake to Berkshire in 2023.
Dominion sold East Ohio Gas, Questar Gas and PSNC to Enbridge for about $14 billion including debt to reduce leverage and focus on regulated electric utilities. The sales closed in 2024.
In 2024, Dominion sold a 50% non-controlling equity stake in CVOW to global infrastructure firm Stonepeak for ~$3.0 billion. Stonepeak funds half of all remaining construction costs, significantly de-risking project execution and protecting Dominion's balance sheet.
In 2013, Dominion sold its non-regulated merchant coal and gas power plants (Brayton Point, Kincaid) to Energy Capital Partners for $650 million, intentionally exiting volatile unregulated merchant power markets to focus on regulated utilities.
Yes, pending approvals. The May 2026 all-stock agreement, valued at about $66.8 billion, would give Dominion holders 0.8138 NextEra shares per share. Shareholders approved it on September 3, 2026.
Yes, in 2019, Dominion executed a massive $14.6 billion acquisition of SCANA Corporation. SCANA was nearly bankrupt after the catastrophic, multi-billion-dollar failure of the V.C. Summer nuclear plant construction project in South Carolina; Dominion effectively bailed them out.
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