Governor Abigail Spanberger’s administration filed testimony with the Virginia State Corporation Commission (SCC) yesterday calling for additional consumer protections and energy commitments before approving the proposed $67 billion merger between Dominion Energy and NextEra Energy.

Richmond-based Dominion Energy is Virginia’s primary electric utility, while Florida-based NextEra Energy is one of the nation’s largest energy companies. The merger would create the world’s largest regulated electric utility business by market capitalization, serving approximately 10 million customer accounts across four states: Virginia, North Carolina, South Carolina, and Florida.

The Governor is recommending that the SCC reject the merger as currently proposed unless the companies make additional enforceable commitments or identify alternative solutions that adequately address the administration’s concerns.

The Governor is calling for: 

  • Six-Year Rate Freeze: Freeze residential base electricity rates for six years. 
  • Customer Bill Credits: Triple monthly credits to $29 for four years. 
  • Data Center Energy Requirements: Establish a separate, Virginia-headquartered subsidiary to develop zero-carbon energy generation for large data centers, with financial protections for other ratepayers. 
  • Consumer Protections: Reduce residential customers’ share of certain utility costs. 
  • Energy and Workforce Commitments: Prioritize energy efficiency and clean energy investment, protect Virginia utility jobs, and establish enforceable regulatory commitments. 

Why it matters:

Northern Virginia’s technology economy depends on reliable, affordable electricity to support AI, cloud computing, data centers, and continued business growth. The proposed conditions could influence how Virginia meets rising electricity demand, finances new energy infrastructure, and maintains its economic competitiveness. 

What happens next:

The SCC will hold public hearings in November, with an evidentiary hearing beginning November 17. The companies anticipate completing the merger in the second half of 2027, subject to regulatory approvals. The Governor’s proposed conditions are not final requirements, and the SCC will determine whether the merger can proceed.

NVTC will continue monitoring developments and advocating for policies that support reliable, affordable energy, responsible infrastructure investment, and Virginia’s technology leadership.

Read the Governor's full SCC filing