Attorney General Jay Jones asked the State Corporation Commission (SCC) on Sept. 18 to restart the 180-day statutory review period for the proposed $67 billion merger between Dominion Energy and NextEra Energy. The request follows supplemental filings submitted by the utilities on Sept. 14, which altered key terms of the original deal. Jones argued that the changes constitute a material amendment requiring additional time for public scrutiny and regulatory analysis.
What it means
The utilities extended residential bill credits from two years to four years and increased job protections for Virginia staff from 18 months to five years, according to the company. The proposal also includes a commitment to build a new office tower in downtown Richmond. NextEra CEO John Ketchum said stakeholder hearings since July 15 prompted the revisions.
Jones stated the timing of the supplemental filing—submitted on the first business day after the intervenor deadline—raises serious notice concerns. He argued that resetting the clock allows intervenors adequate time to review the new details and facilitates further public engagement. Under the current timeline, the SCC must issue a final decision by Jan. 11. If the commission agrees with Jones, the case would extend into the General Assembly session beginning in January, with a final decision potentially delayed until March.
Governor Abigail Spanberger declined to call a special session to extend the statutory review deadline, and the General Assembly has not taken steps to convene regarding an extension. Jones filed testimony asserting that the companies have presented “a different deal on the table,” necessitating a fresh regulatory look at the transaction.
Key facts
- $67 billion: Value of the Dominion Energy-NextEra Energy merger proposal.
- 180 days: Standard review period for the merger; Jones requested this clock be reset.
- Sept. 14: Date Dominion and NextEra filed supplemental documents with the SCC.
- Four years: Proposed duration for residential customer bill credits, up from two years.
- Five years: Proposed duration for job protections for Virginia staff, up from 18 months.
- Sept. 18: Date Attorney General Jay Jones filed testimony requesting the reset.
- Jan. 11: Current deadline for the SCC to make a final decision under existing timelines.
- March: Expected date for a final decision if the SCC grants the clock reset request.
Source: Virginia Mercury, reporting State Corporation Commission filings