$NEE

NextEra Energy's $67B acquisition of Dominion Energy faces scrutiny in South Carolina. Lawmakers pressed for details on bill credits and jobs. The deal, requiring regulatory approvals, would create the world's largest regulated utility. NextEra offered $10/month credits for South Carolina customers for 2 years. The Public Service Commission will review the proposal, with a decision expected in early 2027.

NextEra Energy must report on a 2021 investigation into election influence allegations as part of its acquisition bid for Dominion Energy. Dominion faces scrutiny for underestimating fuel costs while seeking a 2% bill surcharge. Its Virginia utility revenue rose 30.5% in early 2026, but fuel costs increased faster. A formal review of the proposed merger between Dominion and NextEra began this week.

NextEra Energy CEO John Ketchum defended a potential $67B merger with Dominion Energy at a Virginia Chamber of Commerce event. The deal includes $10 monthly bill credits, $100M for low-income assistance, and 1,000 new jobs. Dominion Energy's Ed Baine denied claims the merger would raise bills. The companies aim to finalize the deal in late 2024, pending regulatory approval.

ETFs sold $22.9M of NextEra Energy (NEE) on Oct. 13, ending a four-day buying streak. XLU, SPY, and NOBL were the largest sellers. NEE is a major utility company with a $163.5B market cap. ETFs were net buyers in 4 of the last 5 days.

State Street Utilities Select Sector SPDR ETF (XLU) reported a net outflow of $175.8 million on Tuesday, selling stocks but buying none. XLU decreased all 31 of its positions, with the largest sales being NEE ($21.8 million), SO ($13.6 million), and CEG ($13.0 million). The fund's assets under management stood at $24.13 billion.

The US Department of Energy announced a $100 billion private investment for the Paducah American Energy Hub in Kentucky, focusing on AI and high-performance computing. Brookfield Asset Management will build a 1.8 GW data center, while NextEra Energy will develop 2 GW of gas generation and 2.6 GW of energy storage. The project, set for completion by 2032, is expected to create 8,000 construction jobs and 600 permanent roles.

Brookfield Asset Management (BAM) and NextEra Energy (NEE) will invest $100 billion to build an AI and high-performance computing hub in Kentucky, creating jobs and new energy infrastructure. The project, targeting completion by 2032, aims to be resource-efficient and avoid raising local utility bills. Meanwhile, market sentiment is cooling on heavy AI infrastructure spending, with challenges faced by projects like Stargate and Oracle's Project Jupiter.

Congressman Kevin Hern sold shares in Chevron (CVX), Chubb (CB), Devon Energy (DVN), and other companies, according to a congressional trade report. Chevron shares are up 47% year-to-date, with a 3.27% dividend yield and a P/E ratio of 21.34. Analysts have revised earnings upwards for the company. Hern also bought government securities.

Morgan Stanley lowered its price target for NextEra Energy from $111 to $110. The stock closed at $78.22, down 0.37%.

South Carolina regulators face a January deadline to decide on NextEra Energy's $67B offer to buy Dominion Energy, creating the world's largest regulated electric utility. Critics, citing NextEra's Florida operations, argue the deal could lead to higher customer bills and disconnections, as Florida Power & Light (NextEra's subsidiary) has secured above-average returns and high profit margins.