RICHMOND, Va. — The Virginia General Assembly has asked Governor Abigail Spanberger to call a special session of the legislature to extend the State Corporation Commission's timeframe for reviewing the proposed merger between Dominion Energy and NextEra Energy.
On May 18m NextEra and Dominion Energy announced a deal to merge, proposing what would create the world's largest regulated utility. The companies told Virginians they would receive $10 off their monthly bill for two years, if the deal goes through. An additional $55 billion in capital investments over five years and an 18-month job protection for Dominion employees.
The review period for the State Corporation Commission officially began on July 15, when the companies filed their joint application. Under current law, the SCC must issue a decision within 180 days of the completed application, with approval automatically granted if no decision is reached.
That's why Virginia lawmakers are requesting the special session to review the terms of the deal.
"Six months is not enough time for the Commission to build a complete evidentiary record, for intervenors and expert witnesses to test the companies' claims, or for the public to understand and respond to what is being proposed — and the consequence of running out the clock is not a denial but an automatic approval," the legislators explained in a letter to the Governor.
The Virginia General Assembly members who signed the letter stated that the proposed special session, which would take place by the end of September, would allow for legislators to extend the review period without disrupting the overall review timeline.
"We support calling the General Assembly back into session for this urgent purpose, so that a merger of this scale receives the rigorous public and regulatory examination Virginians deserve," the letter ends.
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