Virginians get their say on the $67 billion Dominion sale
The SCC holds its first in-person public hearings this week on NextEra Energy's proposed purchase of Dominion Energy.
Virginians get their first chance this week to speak in person on NextEra Energy's proposed $67 billion purchase of Dominion Energy, the state's largest electric utility. The State Corporation Commission holds public hearings Oct. 7 in Newport News and Oct. 9 in Fairfax, with a third set for Nov. 5 in Richmond. No advance registration is needed to speak in person.
NextEra, the Florida-based parent of Florida Power & Light, announced the all-stock deal in May. The combined company would serve roughly 10 million customers in Virginia, Florida, North Carolina and South Carolina, with headquarters in Juno Beach, Florida, and Richmond. The companies have proposed $2.25 billion in shareholder-funded bill credits spread over two years after the deal closes.
Gov. Abigail Spanberger moved in August to formally intervene in the case, the first time a Virginia governor has done so in an SCC proceeding. Her administration has said it will judge the deal on customer bills, Virginia jobs and continued clean energy investment, including Dominion's offshore wind project off Virginia Beach.
The case is also drawing scrutiny of NextEra's record. On Oct. 2, the SCC's chief hearing examiner ruled that Clean Virginia, an advocacy group in the case, can obtain documents on NextEra's internal investigation into its failed attempt to buy Jacksonville's public utility. He denied a broader request for five years of NextEra's public opinion campaign spending. Attorney General Jay Jones has asked the SCC to push its decision deadline into the spring.
Written comments are due Nov. 9, and the formal evidentiary hearing starts Nov. 17. The SCC's current deadline to rule is Jan. 11, 2027. The deal also needs approval from regulators in North Carolina and South Carolina, the Federal Energy Regulatory Commission and the U.S. Department of Justice, and is expected to close in late 2027.
Dominion's grid powers most new development in the state, from data centers to factories to housing. Who owns it will shape how fast that power gets built and what customers pay for it.
What's next
- Oct. 7 Public hearing, CNU Freeman Center, Newport News, 6-8 p.m.
- Oct. 9 Public hearing, Fairfax County Government Center, 6-8 p.m.
- Nov. 5 Public hearing, SCC building, Richmond, 2-5 p.m.
- Nov. 9 Written comment deadline
- Nov. 17 Evidentiary hearing begins
- Jan. 11, 2027 SCC decision deadline (extension requested)
Sources
- Virginia Mercury: Where public hearings on the merger will be held
- Virginia Mercury: Spanberger intervenes in the $67B merger
- Virginia Mercury: Regulators allow part of NextEra's political past to be examined
- Utility Dive: Hearing examiner orders Dominion to release memo
- SCC: Dominion-NextEra merger updates