The proposed NextEra Energy-Dominion Energy merger is valued at $67 billion. Virginia Gov. Abigail Spanberger said she will not support the deal unless the companies freeze residential electricity rates for six years and triple monthly customer bill credits.
In testimony filed with the Virginia State Corporation Commission (SCC), which must approve the merger, Spanberger urged regulators to reject it if her conditions are not met. She formally intervened in the process in August, citing doubts about the merger’s benefits for Virginians.
SCC staff have also recommended denying the deal, citing financial risks and a lack of concrete benefits for consumers.