As Virginia regulators move closer to making a decision on the Dominion Energy-NextEra Energy merger, Virginians are speaking out about what the deal could mean for their power bills.
In September, Lt. Gov. Ghazala Hashmi hosted a five-city Energy Costs Listening Tour about the proposed $67 billion deal that would combine the Richmond-based Dominion Energy with NextEra Energy, which is headquartered in Florida. Nearly 130 residents across Loudoun County, Norfolk, Richmond, Charlottesville, and Roanoke showed up to share their concerns.
The two power companies are promoting the merger as a way to build “a stronger company to meet growing power demand.” Meanwhile, critics say they’re worried about everything from previous failed deals to the potential for rate increases passed on to consumers.
“Virginians are already struggling with the cost of keeping the lights on, and they deserve certainty that this takeover will not leave them paying even more,” Hashmi said in a media release. “After listening to Virginians from different backgrounds across the commonwealth and closely reviewing this proposal, I have concluded that it does not provide the protections Virginians demand and should not be approved.”
A full report summarizing the listening tour documents concerns ranging from clean energy and data centers to accountability. But across the five locales, one recurring theme surfaced: How would the proposed merger affect the people already struggling to afford their electricity bills?