Virginia governor to intervene in NextEra, Dominion merger over electricity price concerns

Virginia Gov. Abigail Spanberger said Thursday she will intervene in the huge merger of NextEra and Dominion Energy, an unprecedented move at time when voters are angry over rising utility bills.

"As a Virginian, I am deeply skeptical about whether selling our primary, state-regulated utility to an out-of-state company is good for the commonwealth," Spanberger said in an opinion piece published in The Washington Post. "I have serious questions about what this deal would mean for us."

Florida-headquartered NextEra agreed in May to buy Dominion in a deal valued at nearly $67 billion that would create the largest regulated electric utility in the world.

Dominion is the utility responsible for powering the largest data center market in the world in northern Virginia. Spanberger won the 2025 gubernatorial election in part on a promise to address voters' concerns that data centers are contributing to higher electricity costs.

Virginia's State Corporation Commission is tasked with reviewing the deal and will either accept, reject or impose conditions on it. Spanberger's intervention in the case is the first time a governor has taken such action before the commission, her office said in a statement.

"If two large corporations stand to benefit financially from this merger, so, too, should the Virginians who pay the bills," Spanberger said. "That is why any potential deal must deliver a more affordable energy bill with sustained, long-term energy cost savings."

Spanberger said her intervention will allow the governor's office to raise concerns with the commission, request information, and lay out what benefits residents expect from the deal.

NextEra shares closed more than 1% lower Thursday while Dominion stock fell more than 2%.