NextEra closes DOE loan of up to $1.9 billion for Duane Arnold restart

NextEra Energy Resources closed a loan with the U.S. Department of Energy of up to $1.9 billion in the third quarter to support the restart of its Duane Arnold nuclear plant in Iowa, NextEra Energy said on October 21. The plant remains on track to be recommissioned and return to service no later than the first quarter of 2029.

Point Beach contract awaits Wisconsin approval

NextEra Energy Resources also executed a 20-year power purchase agreement for approximately 1 GW of its Point Beach nuclear plant in Wisconsin during the quarter, at a price the company described as competitive. The contract is subject to approval by the Public Service Commission of Wisconsin. The full output of the plant is now contracted into the 2050s. The company's year-to-date renewables and nuclear recontracting totals nearly 2.4 GW.

Shareholders approved the Dominion combination on September 3

Shareholders of NextEra Energy and Dominion Energy approved the pending combination on September 3, satisfying a closing condition, the company said. Regulators in Virginia and South Carolina have set procedural schedules with hearings in November and December, and the companies expect final orders in January 2027. The North Carolina Utilities Commission has scheduled expert witness hearings to begin in February 2027, and federal reviews are continuing. The companies continue to expect the combination to close in the second half of 2027.

In September, NextEra Energy announced an enhanced benefits package for Virginia that doubled residential bill credits from two years to four years and added $100 million of shareholder-funded support for Dominion Energy's customer bill assistance program through 2038. The package also commits to 600 new NextEra Energy jobs in Virginia, working from a shareholder-funded co-headquarters tower in downtown Richmond, and to holding Virginia employee headcount for five years.

Adjusted earnings per share rose 9.7%

NextEra Energy reported third-quarter net income attributable to NextEra Energy on a GAAP basis of $4.775 billion, or $2.28 per share, compared with $2.438 billion, or $1.18 per share in the third quarter of 2025. Adjusted earnings were $2.592 billion, or $1.24 per share, compared with $2.348 billion, or $1.13 per share. NextEra Energy Resources added 3.7 GW of renewables and storage to its backlog in the quarter, which now totals about 36.7 GW after 1.8 GW of projects entered service since July.