Democratic lawmakers warn $67 billion NextEra-Dominion merger could raise power prices

  • Democratic lawmakers urged FERC to scrutinize or block the NextEra-Dominion merger.
  • $67 billion deal would serve around 10 million utility customers after closing.
  • The merger is expected to close in mid- to late 2027.

Democratic lawmakers are urging the Federal Energy Regulatory Commission (FERC), the agency overseeing energy mergers, to closely examine or block NextEra Energy's proposed $67 billion acquisition of Dominion Energy. They say the enlarged utility could gain excessive market power, shift costs to ratepayers, delay grid upgrades, evade federal scrutiny and use transmission lines to disadvantage competitors. NextEra says the deal would create the "largest regulated electric utility" in the world, serving around 10 million customers across four states and owning all nuclear power plants in New England. The merger is expected to close in mid- to late 2027, with NextEra proposing $2.25 billion in bill credits for Dominion customers over two years. The lawmakers questioned whether those savings would materialize as households face sharply higher energy costs.

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