STOP the NextEra & Dominion Energy Merger
The Issue
NextEra Energy’s proposed $67 billion acquisition of Dominion Energy would combine the two companies into the world’s largest regulated electric utility, with an enterprise value of approximately $420 billion and a market capitalization of approximately $249 billion. The merger would increase the company’s customer base to approximately 10 million utility customer accounts in Virginia, Florida, North Carolina, and South Carolina. The new entity would own 110 gigawatts (GW) of energy generation. To put that in perspective, 110 GW represents roughly 10% of the entire United States power grid capacity or enough energy to simultaneously power 11 cities the size of New York City.
While corporate executives promise short-term billing credits (estimated to be worth $10/month per household for 2 years), this mega-merger poses serious long-term risks to Virginia ratepayers, the energy grid, and its democratic process.
Unchecked Rate Hikes
In 2025, Florida regulators approved a $7 billion rate increase for NextEra's primary subsidiary, Florida Power & Light (FPL), making it the largest utility rate increase in U.S. history. Since January 2026, the average customer has been paying about $14 more per month and an additional $175 annually in energy, fuel, and taxes, with that number projected to increase to $289 annually by 2028.
The acquisition could shift additional infrastructure costs, including the massive investments required to power AI data centers, onto everyday households without providing tangible local benefits. With NextEra shareholders controlling nearly three-quarters of the combined enterprise, Virginia's unique energy needs could be overshadowed by out-of-state corporate and investor interests.
Utility merger expert Scott Hempling warns that the bigger issue is who controls the company. "What is being transferred is control. All decisions ultimately are controlled by the owners, and the owner will be NextEra," Hempling said (Merger expert: Virginia regulators need more time for NextEra–Dominion, VPM News, June 12, 2026).
Political Misconduct and Corruption
Over the past decade, NextEra Energy and its subsidiaries have faced a broad range of legal and regulatory actions, including: federal environmental enforcement, ERISA and antitrust settlements, securities litigation, and allegations involving political activities. Several matters have resulted in multimillion-dollar settlements or criminal penalties, while others remain pending. In many of the civil cases, the company has denied wrongdoing and settled without admitting liability.
Major settlements include:
2026: Securities fraud, political interference, utilizing dark money networks, and tracking journalists settlement, $150 million
2026 Nuclear wage-fixing antitrust settlement, $9.5 million
2026: ERISA retirement plan settlement, $8 million
2022: Eagle deaths (criminal fine + restitution), $8.06 million, plus $27 million mitigation
2016 FERC transmission cost recovery, $6.8 million
These cases highlight the importance of carefully evaluating a company's regulatory record, corporate governance, and history of compliance before entrusting it with critical public infrastructure.
History of Monopolistic Failure
Regulators in Texas, Hawaii, and South Carolina have previously blocked or forced NextEra to withdraw from utility buyouts because the company failed to prove that consolidation was in the public interest.
I invite EVERYONE to join in urgently requesting that our representatives oppose the NextEra / Dominion merger; and that they use their legislative power to safeguard our utility bills, protect our local clean energy goals, and demand that the State Corporation Commission (SCC) reject this consolidation.
Our state should prioritize consumers over corporate monopolies.
Sources:
NextEra to pay $150M to settle charges related to Florida political misconduct allegations, June 17, 2026
https://www.utilitydive.com/news/nextera-energy-lawsuit-political-scandal-dominion/823137/
Merger expert: Virginia regulators need more time for NextEra–Dominion, June 12, 2026
https://www.vpm.org/news/2026-06-12/dominion-energy-nextera-merger-ceur-scc-hempling-baine-green
What can consumers expect from the proposed Dominion deal?, June 3, 2026
https://vcij.org/stories/what-can-consumers-expect-from-the-proposed-dominion-dealnbsp
The Commonwealth of Virginia Is Right to Proceed with Caution on the Proposed NextEra–Dominion Merger, May 21, 2026
NextEra Energy and Dominion Energy to Combine, Creating the World's Largest Regulated Electric Utility Business and North America's Premier Energy Infrastructure Platform Benefiting Customers, May 18, 2026
Electric-Utility-Business-and-North-Americas-Premier-Energy-Infrastructure-Platform-Benefiting-Customers?l=12
NextEra Energy’s Proposed Acquisition of Dominion Energy – Virginia State Corporation Commission Regulatory Approval Process, May 18, 2026
DeSantis’ PSC Approves FPL Rate Hike, Largest in U.S. History, Nov 20, 2025
FPL Rejects Joining OPC, Nonprofit Rate Hike Settlement, August 26, 2025
https://www.foodandwaterwatch.org/2025/08/26/fpl-rejects-joining-opc-nonprofit-rate-hike-settlement/
NextEra Energy hit with $350 million antitrust lawsuit over hydropower project, Nov 13, 2024
Why NextEra was kicked out of Texas and Hawai’i…… and related stories February 2019
23
The Issue
NextEra Energy’s proposed $67 billion acquisition of Dominion Energy would combine the two companies into the world’s largest regulated electric utility, with an enterprise value of approximately $420 billion and a market capitalization of approximately $249 billion. The merger would increase the company’s customer base to approximately 10 million utility customer accounts in Virginia, Florida, North Carolina, and South Carolina. The new entity would own 110 gigawatts (GW) of energy generation. To put that in perspective, 110 GW represents roughly 10% of the entire United States power grid capacity or enough energy to simultaneously power 11 cities the size of New York City.
While corporate executives promise short-term billing credits (estimated to be worth $10/month per household for 2 years), this mega-merger poses serious long-term risks to Virginia ratepayers, the energy grid, and its democratic process.
Unchecked Rate Hikes
In 2025, Florida regulators approved a $7 billion rate increase for NextEra's primary subsidiary, Florida Power & Light (FPL), making it the largest utility rate increase in U.S. history. Since January 2026, the average customer has been paying about $14 more per month and an additional $175 annually in energy, fuel, and taxes, with that number projected to increase to $289 annually by 2028.
The acquisition could shift additional infrastructure costs, including the massive investments required to power AI data centers, onto everyday households without providing tangible local benefits. With NextEra shareholders controlling nearly three-quarters of the combined enterprise, Virginia's unique energy needs could be overshadowed by out-of-state corporate and investor interests.
Utility merger expert Scott Hempling warns that the bigger issue is who controls the company. "What is being transferred is control. All decisions ultimately are controlled by the owners, and the owner will be NextEra," Hempling said (Merger expert: Virginia regulators need more time for NextEra–Dominion, VPM News, June 12, 2026).
Political Misconduct and Corruption
Over the past decade, NextEra Energy and its subsidiaries have faced a broad range of legal and regulatory actions, including: federal environmental enforcement, ERISA and antitrust settlements, securities litigation, and allegations involving political activities. Several matters have resulted in multimillion-dollar settlements or criminal penalties, while others remain pending. In many of the civil cases, the company has denied wrongdoing and settled without admitting liability.
Major settlements include:
2026: Securities fraud, political interference, utilizing dark money networks, and tracking journalists settlement, $150 million
2026 Nuclear wage-fixing antitrust settlement, $9.5 million
2026: ERISA retirement plan settlement, $8 million
2022: Eagle deaths (criminal fine + restitution), $8.06 million, plus $27 million mitigation
2016 FERC transmission cost recovery, $6.8 million
These cases highlight the importance of carefully evaluating a company's regulatory record, corporate governance, and history of compliance before entrusting it with critical public infrastructure.
History of Monopolistic Failure
Regulators in Texas, Hawaii, and South Carolina have previously blocked or forced NextEra to withdraw from utility buyouts because the company failed to prove that consolidation was in the public interest.
I invite EVERYONE to join in urgently requesting that our representatives oppose the NextEra / Dominion merger; and that they use their legislative power to safeguard our utility bills, protect our local clean energy goals, and demand that the State Corporation Commission (SCC) reject this consolidation.
Our state should prioritize consumers over corporate monopolies.
Sources:
NextEra to pay $150M to settle charges related to Florida political misconduct allegations, June 17, 2026
https://www.utilitydive.com/news/nextera-energy-lawsuit-political-scandal-dominion/823137/
Merger expert: Virginia regulators need more time for NextEra–Dominion, June 12, 2026
https://www.vpm.org/news/2026-06-12/dominion-energy-nextera-merger-ceur-scc-hempling-baine-green
What can consumers expect from the proposed Dominion deal?, June 3, 2026
https://vcij.org/stories/what-can-consumers-expect-from-the-proposed-dominion-dealnbsp
The Commonwealth of Virginia Is Right to Proceed with Caution on the Proposed NextEra–Dominion Merger, May 21, 2026
NextEra Energy and Dominion Energy to Combine, Creating the World's Largest Regulated Electric Utility Business and North America's Premier Energy Infrastructure Platform Benefiting Customers, May 18, 2026
Electric-Utility-Business-and-North-Americas-Premier-Energy-Infrastructure-Platform-Benefiting-Customers?l=12
NextEra Energy’s Proposed Acquisition of Dominion Energy – Virginia State Corporation Commission Regulatory Approval Process, May 18, 2026
DeSantis’ PSC Approves FPL Rate Hike, Largest in U.S. History, Nov 20, 2025
FPL Rejects Joining OPC, Nonprofit Rate Hike Settlement, August 26, 2025
https://www.foodandwaterwatch.org/2025/08/26/fpl-rejects-joining-opc-nonprofit-rate-hike-settlement/
NextEra Energy hit with $350 million antitrust lawsuit over hydropower project, Nov 13, 2024
Why NextEra was kicked out of Texas and Hawai’i…… and related stories February 2019
The Decision Makers
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Petition created on June 26, 2026