PJM approves 220‑mile, 765‑kV Mid‑Atlantic corridor by NextEra Energy and Exelon

PJM greenlights 765‑kV Mid‑Atlantic corridor

NextEra Energy Transmission and Exelon secure PJM Board approval for an approximately 220‑mile, 765‑kilovolt transmission line to bolster reliability across West Virginia, Pennsylvania and the Mid‑Atlantic, the companies say. The project is intended to add large‑scale capacity that incremental or localized upgrades cannot address, enabling new generation sources to connect to the regional grid and helping utilities meet extraordinary demand growth that is outpacing current infrastructure.

Company officials frame the line as a crucial enabler of affordable, reliable power and regional economic development. Matt Valle, president of NextEra Energy Transmission, says the project will deliver long‑term benefits to households and local economies, while Exelon’s Carim Khouzami stresses its role in supplying the energy required for rising demand without sidelining customer affordability. Sponsors highlight potential to attract industrial investment and create construction and long‑term jobs as part of the public‑interest case.

NextEra Energy Transmission and Exelon say they are advancing permitting, environmental reviews and stakeholder outreach, including open houses planned later in the year, and will coordinate with regulators and landowners as the project moves forward. They emphasize efforts to minimize community impacts while maximizing grid stability and regional returns, positioning the link as a strategic response to capacity shortfalls that could otherwise constrain business growth and household service reliability.

Dividend increase aligns with NextEra’s dividend growth roadmap

NextEra Energy’s board declares a regular quarterly common dividend of $0.6232 per share, a 10% increase versus the prior‑year quarter and consistent with the company’s plan to grow dividends roughly 10% annually through 2026 off a 2024 base, then about 6% per year from year‑end 2026 through 2028. The dividend is payable on March 16 to shareholders of record as of Feb. 27. NextEra, which owns Florida Power & Light and operates a large portfolio of natural gas, nuclear, renewables and battery storage assets, frames the move as part of its broader capital return and business strategy.

Data‑centre debate underscores grid demand pressures

Policy debate over who bears the cost of rising electricity demand intensifies as White House adviser Peter Navarro suggests data‑centre builders should absorb full local utility costs, remarks that spotlight stresses on regional grids. With electricity prices and large new loads increasingly central to affordability debates, NextEra’s transmission initiative addresses a core industry challenge: adding capacity and connection points to keep pace with concentrated demand growth from data centres, manufacturing and electrification.