RICHMOND, Va. — Dominion Energy and NextEra Energy are pushing for a $67 billion merger they hope to complete in the second half of 2027, but not everyone is on board.
The two companies used their second-quarter earnings calls to lay out what the proposed merger could mean for customers and employees — while some consumer advocates and watchdogs are urging regulators to slow down before signing off.
Dominion CEO Bob Blue said the deal would bring together two major utilities.
"This transaction represents a truly transformational opportunity to bring together two world-class utilities with 238 years of collective industry experience to even better serve millions of regulated customers across four states," Blue said.
The companies say the merger would include $1.8 billion in bill credits, which they say could lower monthly energy bills by about $10 for two years.
NextEra CEO John Ketchum said the deal would more than double the size of the combined company by 2032.
"Which would mean good jobs for many years to come for our talented teams across the four states we would serve, and across America where we operate," Ketchum said.
Not everyone is convinced the merger is a good idea.
"People are really just concerned about the consolidation of power," Dominion customer Jennifer Corpus said.
The Virginia State Corporation Commission has 6 months to review the deal. Some critics say that timeline is too short, but Blue pushed back on Friday, saying the SCC has the experience to handle the review.
"We don't think it makes a lot of sense to change the rules in the middle of the game," Blue said.
The SCC is not the only regulatory hurdle. Both companies say they have filed applications with regulators in North and South Carolina, as well as the Federal Energy Regulatory Commission and Nuclear Regulatory Commission.
Ketchum framed the merger as an expansion of what Dominion has already built.
"This isn't about changing what's worked for Dominion Energy. Rather, this combination is about Dominion Energy adding the undeniable benefits of being part of a larger combined company," Ketchum said.
Blue said the two companies share a common vision for what the merger could accomplish.
"Looking ahead, we believe we can accomplish far more together than we can apart," Blue said.
If you want your voice heard during the approval process, you can register to testify at an SCC hearing or submit written public comments to state regulators.
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