Hashmi Announces Opposition After Listening Tour
Virginia Lieutenant Governor Ghazala Hashmi has declared her opposition to the proposed $67 billion merger between NextEra and Dominion Energy, Virginia's largest electric utility and Florida's largest. Hashmi made the announcement after touring the commonwealth to hear residents' concerns about rising electricity bills and the deal. She said the message from Virginians was loud and clear: they do not want the merger to proceed and want the state to maintain control over its electric utility.[S1][S2][S3][S4][S5][S6][S7]
Hashmi warned that the merger would bring Florida, North Carolina, South Carolina, and Virginia under a single corporate umbrella, giving one company too much influence over electricity prices. She expressed concern that costs could shift from other states onto Virginia ratepayers. Hashmi emphasized the importance of Virginia retaining autonomy to regulate and maintain the full structure of its electric utility company.[S1]
Rising Bills and Company Promises
Electricity prices in Virginia are already climbing. This year alone, Dominion Energy has raised bills at least twice, adding $18 more per month for the average household, with further rate hikes already planned for next year. On Tuesday, top executives from both companies told the Virginia Energy Commission that they care about customers' electricity prices. If the merger is approved, the companies have promised to give $10 credits on customers' bills for four years.[S1]
Hashmi raised the question of what comes next once that four-year period ends, asking how expenses can truly be brought down while Virginia keeps its regulatory grip and decision-making power. Under rules passed by state legislators, the utilities must still hit a target of entirely clean, renewable generation by 2045. Meeting that goal would mean installing additional wind turbines and clearing vast stretches of forest to make room for many more acres of solar arrays. Yet on Tuesday the companies cautioned legislators that adding more solar capacity could drive up what customers pay for power.[S1]
Regulatory Review and Next Steps
Armando Pimentel, a vice president at NextEra, informed the Virginia Energy Commission that eventually the conversation could turn to affordability and to whether a less costly route to clean energy targets exists. Both NextEra and Dominion Energy contend the deal would deliver dependable service and manageable costs over the long run. State regulators hold the final say on whether the merger proceeds. A hearing is scheduled for next month in Richmond, and should it win approval, the transaction is anticipated to be completed next year.[S1]
