Hashmi urges rejection of Dominion acquisition

(The Center Square) – Virginia regulators are being urged to reject NextEra Energy’s proposed acquisition of Dominion Energy over concerns about long-term electric bills and customer protections.

Lt. Gov. Ghazala Hashmi announced her opposition and released a report documenting five public listening sessions held across the commonwealth in September.

Hashmi said the companies have not offered sufficient protections for customers. She urged the State Corporation Commission to reject the transaction.

Her concerns include control over Dominion’s Virginia operations and if households could bear costs for infrastructure built to serve data centers if projected electricity demand does not materialize.

“After listening to Virginians from different backgrounds across the commonwealth and closely reviewing this proposal, I have concluded that it does not provide the protections Virginians demand and should not be approved,” Hashmi said in a statement.

Her opposition follows earlier requests for a longer review and answers to 64 questions about customer rates, competition, financing, corporate governance and potential benefits for Virginia customers.

Hashmi argued that retaining Dominion executives would not give them sufficient authority over major decisions involving rates, reliability, storm response and shareholder dividends.

She also questioned whether bill credits lasting four years would adequately protect customers from risks that would continue after the credits end.

The companies expanded their commitments Sept. 14, proposing $10 monthly residential bill credits for four years, up from two, and another $100 million for EnergyShare assistance through 2038.

At Tuesday’s Energy Commission of Virginia meeting, company executives outlined commitments for 600 NextEra jobs in Virginia, 400 supplier jobs and maintaining a minimum employee headcount for five years.

NextEra Vice Chairman Armando Pimentel said Dominion Energy Virginia would retain separate management, its current board and its own finance and treasury operations, with funds kept separate from NextEra and other subsidiaries.

Hashmi’s listening tour included stops in Loudoun County, Norfolk, Richmond, Charlottesville and Roanoke.

The report’s summary says most public comments opposed the acquisition or called for greater scrutiny and stronger customer protections. Some participants supported it, citing reliability, investment capacity, jobs and renewable energy experience.

The State Corporation Commission scheduled local public hearings Wednesday in Newport News and Friday in Fairfax County. Written comments are due Nov. 9, and an evidentiary hearing begins Nov. 17.

This post was originally published on The Center Square.

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