This episode looks at one of the biggest utility deals in years: NextEra Energy planning to buy Dominion Energy in an all-stock deal. The story is not just about electricity. It is about AI data centres, grid capacity, power prices, regulation and who controls the infrastructure behind the next phase of tech growth.

Winners:

AI power infrastructure utilities

Dominion is the immediate winner because the deal values the company at a premium, while NextEra gains a bigger footprint in Virginia and the wider PJM power market. Southern Company and Duke Energy may also benefit from renewed investor attention on regulated utilities exposed to rising electricity demand.

Names: $D (Dominion Energy), $NEE (NextEra Energy), $SO (Southern Company), $DUK (Duke Energy)

Data centre and digital infrastructure names