Virginia Governor Abigail Spanberger will move to intervene in NextEra Energy’s proposed merger with Dominion Energy, adding uncertainty to a deal that would be among the largest power acquisitions in the U.S., according to Bloomberg. The intervention is tied to concerns about electricity prices, CNBC reports. Virginia’s State Corporation Commission (SCC), which regulates utilities in the state, is responsible for reviewing the merger application. Under the process described by CNBC, the SCC can accept the deal, reject it, or approve it with conditions intended to address rate or other regulatory concerns. The reports also indicate the governor’s involvement increases political and regulatory scrutiny as the companies work toward completing the transaction. While the sources agree on the governor’s intent to seek intervention and the SCC’s role in the review, they do not specify the exact conditions that may be imposed or the ultimate outcome of the proceedings. The merger’s completion therefore depends on regulatory findings in Virginia and the ability of the parties to satisfy any requirements set by the SCC.
Virginia to review and potentially intervene in NextEra-Dominion merger
Virginia Governor Abigail Spanberger will move to intervene in NextEra Energy’s proposed merger with Dominion Energy, adding uncertainty to a deal that would be among the largest power acquisitions in...
- Virginia Governor Abigail Spanberger plans to intervene in the NextEra Energy–Dominion Energy merger.
- The proposed merger is expected to be one of the biggest power acquisitions ever.
- Virginia’s State Corporation Commission reviews the merger application.
- The SCC can approve the deal, reject it, or impose conditions.
- Electricity price concerns are a central issue cited in connection with the intervention.
Virginia's State Corporation Commission is tasked with reviewing the deal and will either accept, reject or impose conditions on it.
1 hour agoVirginia Governor Abigail Spanberger is going to intervene in NextEra Energy, Inc.’s merger with Dominion Energy, Inc., adding further risk to completing what would be the biggest power acquisition ever.
10 hours ago
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