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Virginia Gov. Abigail Spanberger (D) announced Thursday that she plans to intervene in the merger deal between NextEra Energy and Dominion Energy which, if approved, would create the largest regulated electrical utility in the world.
In an op-ed in the Washington Post, Spanberger stated that she will make herself a party on the merger, noting that “this action is unprecedented by a Virginia governor — but so, too, is the size of this proposed merger and its potential impact on the commonwealth.”
“As a Virginian, I am deeply skeptical about whether selling our primary, state-regulated utility to an out-of-state company is good for the commonwealth,” she wrote.
The Florida-based NextEra Energy and Virginia-based Dominion Energy announced the $67 billion deal in May and is awaiting regulatory approval on the proposed combination. The merged company would serve about 10 million customers in Florida, Virginia and the Carolinas.
The Virginia’s State Corporation Commission (SCC) will ultimately have the final say on whether to approve the deal and impose conditions on any potential mergers, as Spanberger acknowledged in the op-ed.
Spanberger outlined three non-negotiables for the deal that she will prioritize in her involvement with the merger: Virginia’s families and small businesses, workforce and energy future.
“Lowering costs, standing up for workers and investing in an innovative energy future — these have been my priorities since taking office in January,” she continued.
She finished her op-ed by saying that she does not intend to make the SCC’s decision for it but that her office will have the legal right to actively engage, ask questions and request information if needed on the deal.
NextEra Energy told The Hill in a statement Thursday that the company supported the decision by the Governor to participate in the SCC’s review, saying, “We share the priorities she set out: more affordable bills for Virginia families and small businesses, protection for Virginia’s utility workforce and faster progress toward affordable, reliable, locally produced clean power.”
“As the Governor noted, the SCC is the appropriate forum to evaluate this combination and balance the interests of the Commonwealth, and we are confident its established, fact-based review will demonstrate the benefits this combination offers Virginia,” the company concluded.
The deal is expected to close in the second half of 2027.
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