Virginia officials and consumer groups are intensifying their opposition to Florida-based NextEra Energy’s proposed $67 billion takeover of Dominion Energy, fearing that the merger could push electricity costs higher for households and businesses across the state.
Those warnings were a central theme at an Aug. 30 forum in Chantilly, where critics said the transaction amounts to a power play that rewards executives and shareholders while leaving ratepayers on the hook for higher costs, Annandale Today reported.
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If completed, the all-stock deal would make Dominion part of NextEra, but the transaction still needs approval from Virginia’s State Corporation Commission and federal regulators.
Opponents allege that outcome would create one of the largest regulated utility monopolies in the world…