Dominion Energy shareholders voted 98% in favor of merging with NextEra

RICHMOND, Va. — Dominion Energy shareholders voted Thursday to approve a merger with NextEra Energy, a deal that could reshape the energy industry in Virginia.

98% of shareholders who voted approved the merger.

In a statement, Dominion Energy said:

"We are pleased that shareholders of Dominion Energy and NextEra Energy have approved the proposed merger. Today's vote represents an important milestone in the process."

The shareholder vote is one of several hurdles the companies must clear. Both are still awaiting approval from the Virginia State Corporation Commission, which has until January to decide.

Troy Tolson, a Dominion Energy shareholder and former employee of more than 34 years, said he hopes the merger does not move forward.

"I'm hoping that it doesn't go through...I think the biggest thing is Virginia losing control over, you know, customer rates and stuff like that, and you know, accountability. That's the big thing," Tolson said.

Tolson is worried a merger with a company the size of NextEra will mean Virginians won't be the priority and that bills will continue to rise.

Dominion Energy addressed those concerns in a statement, saying:

"Keeping rates affordable is a focus area for the company. We believe the proposed merger with NextEra Energy will assist in those efforts."

A company spokesperson also pointed to a financial benefit for Virginia customers.

"If approved, our Virginia customers will benefit from $1.78 billion in NextEra Energy shareholder-funded bill credits. Over the longer-term our projects will be more efficient to finance, purchase, and build due to the stronger credit and buying power of the combined company."

Chesterfield County Board of Supervisors member Jessica Schneider said the proposed bill credit falls short.

"Dominion and Nextera are asking us to celebrate a credit that does not come close to erasing the damages that already have been done to this our household budgets of our neighbors, our seniors, our small businesses. What are we being offered instead? Vague, long-term promises, assurances that things will get better down the road, that this deal will pay off eventually, but we have seen this movie before, and we know how it ends."

This is a developing story, so check back with WTVR.com for updates. Email the CBS 6 Newsroom if you have info, photos or videos to share.

CBS 6 is committed to sharing community voices on this important topic. Email your thoughts to the CBS 6 Newsroom.