Virginia Governor To Intervene In Dominion-NextEra Merger (washingtonpost.com)
- Reference: 0184894044
- News link: https://news.slashdot.org/story/26/08/07/2142258/virginia-governor-to-intervene-in-dominion-nextera-merger
- Source link: https://www.washingtonpost.com/opinions/2026/08/06/abigail-spanberger-intervenes-dominion-nextera-utility-merger/
> NextEra Energy, a Florida-based utility company, has filed paperwork to buy Dominion Energy for [3]about $67 billion , creating the largest regulated electric utility in the world. Virginia's State Corporation Commission is the regulatory body tasked with reviewing the application, and the SCC's commissioners will ultimately decide whether to approve, deny or impose new conditions on any potential merger.
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> 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. I have serious questions about what this deal would mean for us. And as governor, I intend to get answers and be a voice for Virginians in the process. That is why I will be taking the legal step of "intervening" in this proposed merger, which means that as governor, I will formally request to be a party to the case.
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> I know 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. Virginians deserve to know that their leaders are laser-focused on ensuring that their needs are part of the SCC review.
"If two large corporations stand to benefit financially from this merger, so, too, should the Virginians who pay the bills," said Spanberger. "That is why any potential deal must deliver a more affordable energy bill with sustained, long-term energy cost savings."
By formally intervening in the merger review, Spanberger's administration would gain legal standing to participate directly in the case, request detailed information, raise concerns, and advocate for conditions that benefit people in the state. She says the goal is to push for lower long-term energy costs, protect utility jobs, and ensure any new owner continues investing in reliable, affordable and cleaner power.
[1] https://slashdot.org/~schwit1
[2] https://www.governor.virginia.gov/newsroom/news-releases/2026/august-releases/name-1122081-en.html
[3] https://hardware.slashdot.org/story/26/05/19/1733219/nextera-and-dominions-67-billion-mega-merger-is-all-about-the-data-centers
Re: (Score:2)
Mega corp that tried to make it illegal to install solar panels on your home, in Florida. Where the state motto is The Sunshine State .
As a Virginian ... (Score:2)
I'm not keen on tying ourselves with Florida in any way.
(I say this after having spent my freshman year at USF in Tampa way back.)
new idiots lead, old history repeats (Score:2)
Has everyone forgotten that California sold its power plants and suffered electricity black-outs as a direct result: The now-private power plants 'shipped' California's electricity to other states where the profits were higher.
Re: (Score:2)
Virginia does not own Dominion Energy. They just regulate it (set rates, etc). They would regulate the resulting corporate entity after a merger, whatever that is, just the same as they do now, as is their right to do so as a state.
I suspect this will get shot down, as Virginia does not have the right to control this (it is interstate / federal level for one thing).
Good (Score:2)
My electric company is owned by conglomerates in Australia and Singapore. You think they give a fuck how the infrastructure in the area is doing?
Wait, Dominion's going to Merge? (Score:3)
Someone better tell Odo.
Re: (Score:2)
> Someone better tell Odo.
Laws change depending on who's making them. Cardassians one day, Federation the next... but justice is justice.
Re: Wait, Dominion's going to Merge? (Score:2)
Les poissons, les poissons. How I love les poissons!
Re: (Score:2)
ACAB includes shapeshifting constables.
Does it matter? (Score:1)
Electric utilities are the definition of a natural monopoly. As such, they need to be regulated so tightly that they can't even fart without government permission. Most utilites can't increase prices without begging/bribing the government for permission. I guess that's the real problem: bigger monopolies can afford bigger bribes.
Re: (Score:3)
Where I live (in the US) most of the utilities are government entities. Very similar in power level to a city. Run by Boards elected by the voters in their service area.
It works really well. Rates lower than average, uptime above average, lower percent of fossil fuels, higher rate of investment in utility-owned green energy, etc.
My city has really excellent uptime, and outages get fixed really fast. And slightly higher rates than the city next door. That city has good uptime, outages get fixed in an average
Re: (Score:2)
Yep. Municipal power is a natural thing to do - it is a situation where the locals are about as close to fully aligned with one another as they get - everyone wants reliable, cheap power and responsive service when you need it. So you make a captive company with a charter that keeps it aligned with its customers instead of Wall St. You don't take silly risks because you're not chasing infinite growth, customers gets decent rates, the area gets some decent local jobs out of it. Everyone except the predators
Re: (Score:2)
When an out of state company makes decisions inside a state, the state's power to force outcomes becomes limited. The out of state company can always say "take it or leave it" and threaten to exit the market.
So it's always better to keep companies that do business on the inside of a state, then the state can properly punish failures to uphold required standards.And if the company wants to shut down or exit, the state can attempt to take over the assets and force desired outcomes in various ways.