NextEra Energy and Dominion Energy strengthen historic Virginia benefits package with additional customer and financial safeguards
Key Highlights
- ➤101 of 117 proposed conditions accepted as filed; 13 more accepted with enhancements
- ➤Four years of shareholder-funded residential bill credits preserved for Dominion customers
- ➤$100 million EnergyShare contribution provides energy assistance and weatherization
- ➤Proposed combination targets 1,000 new jobs and up to $5 billion in Virginia spending
- ➤Transaction remains subject to approvals; closing expected in second half of 2027
Expert Statements
John Ketchum, Chairman and CEO of NextEra Energy
“We have already put forward a historic package of benefits for Dominion Energy Virginia customers, workers and communities, and we are going even further.”
John Ketchum, Chairman and CEO of NextEra Energy
“Virginia should not have to choose between relief on electric bills today and affordable, reliable power tomorrow.”
John Ketchum, Chairman and CEO of NextEra Energy
“Our proposal delivers four years of shareholder-funded bill credits for Dominion Energy Virginia customers while putting NextEra Energy’s scale, financial strength and operating experience behind the local Dominion Energy team Virginians know and trust.”
John Ketchum, Chairman and CEO of NextEra Energy
“We have listened carefully to stakeholders, and our filing accepts the vast majority of the additional protections proposed by Commission Staff and the Consumer Counsel while offering targeted alternatives to a limited number of remaining provisions.”
John Ketchum, Chairman and CEO of NextEra Energy
“Together, these commitments strengthen protections for customers while preserving the financial and operating capabilities needed to build and finance Virginia’s energy future more efficiently.”
Bob Blue, Chair, president and CEO of Dominion Energy
“Dominion Energy has proudly served Virginia for more than a century.”
Bob Blue, Chair, president and CEO of Dominion Energy
“This combination is about building on that legacy.”
Bob Blue, Chair, president and CEO of Dominion Energy
“Dominion Energy Virginia would remain locally led and accountable to the State Corporation Commission, supported by NextEra Energy’s financial strength and operational expertise.”
Bob Blue, Chair, president and CEO of Dominion Energy
“These additional protections reinforce our commitment to our customers as we continue to reliably and affordably meet Virginia’s growing energy needs.”
NextEra Energy and Dominion Energy strengthen historic Virginia benefits package with additional customer and financial safeguards
* Filed testimony reflects strong alignment with key conditions proposed by Commission Staff and the Office of the Attorney General Division of Consumer Counsel ensuring robust financial safeguards and independence for Dominion Energy Virginia.
Get started
Create a free account to read the full story.