Tell the SCC: Reject the NextEra Takeover
NextEra Energy, a Florida-based company, wants to buy Dominion Energy for $67 billion. It would be the largest utility merger in U.S. history, and it would put the company that keeps the lights on for millions of Virginians under new ownership.
Look at why they want it. NextEra's own board pointed to accelerating data center demand and a combined pipeline of more than 130 gigawatts of large-load customers as reasons to do this deal. It's a way into the data center market, and Virginia is where that demand is.
Data centers are the customers NextEra is chasing. Families are the customers who can't leave. You can't shop for another utility, so you're stuck with whatever costs and risks come with a company betting big on data center growth. NextEra's shareholders would own about three-quarters of the combined company. Virginia customers would be along for the ride.
And this isn't a company with a clean record. NextEra agreed to a $150 million settlement of a shareholder lawsuit alleging it misled investors about its Florida utility's political activities, including funding "ghost" candidates to defeat lawmakers it saw as a threat and surveilling journalists. In Maine, NextEra put more than $20 million into a ballot campaign against a competing transmission line, and two groups it funded were fined for hiding its role.
The Commission is taking public comments through Nov. 9. Commissioners should hear from the people who'd live with the outcome, not just the lawyers and lobbyists on the other side. Use the letter below or write your own. It takes two minutes.