Virginia Lieutenant Governor Ghazala Hashmi voiced opposition to NextEra’s proposed $67 billion takeover of utility Dominion Energy Inc., adding an outright objection to calls for more scrutiny as the deal awaits state regulatory approval.
“I have concluded that the proposed takeover of Dominion Energy with Next Era is not in the best interest of Virginians,” Hashmi wrote in a report Tuesday following a listening tour with constituents. The rejection comes after NextEra and Dominion offered a sweetened deal to ratepayers in September, including doubling bill relief to four years and creating 1,000 jobs.
Hashmi said the package did not assuage her concerns, writing that the utilities needed to demonstrate “substantial evidence” the takeover would not impact future rates. The report adds to scrutiny from state officials. In August, Governor Abigail Spanberger said she was “deeply skeptical,” and in late September, Attorney General Jay Jones asked the regulator to extend its review.
The Virginia State Corporation Commission has until January to rule. Dominion and NextEra said combining the companies will benefit customers, including bill relief and jobs.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing