Power demand from data centers has surged, and the country’s largest offshore wind project has made significant steps forward, Dominion Energy executives told investors during a quarterly earnings call Friday.
Hanging over the call was NextEra Energy’s plan to buy Dominion for $67 billion in what would constitute America’s largest ever utility merger. NextEra’s rationale for buying the Virginia utility, which serves the world’s largest collection of data centers, was readily apparent during the call.
Dominion said the amount of data center load that had signed contracts for service has grown 5.3 gigawatts since December 2025, bringing its total pipeline of potential data center customers to 53.8 GW. Those are enormous figures for a utility with an all-time peak for electricity consumption of 25 GW. Company executives also said Dominion had recorded nine of its top 10 days for power consumption this year, with eight of those coming in the last two months alone.
The merger with NextEra must be approved by state and federal utility regulators.
