Lawmakers Urge FERC to Block NextEra-Dominion $67B Merger Over Rate Concerns

Democratic lawmakers on Sept. 30 urged the Federal Energy Regulatory Commission to block NextEra Energy's proposed $67 billion acquisition of Dominion Energy, warning the deal would reduce competition and raise electricity prices for consumers. In a letter led by Sen. Elizabeth Warren and Rep. Suhas Subramanyam, 13 legislators said the combined company would hold excessive market power, enabling it to pass costs to ratepayers, defer grid upgrades and use transmission-line control to disadvantage rivals. They called on FERC to block the merger if it increases market concentration or harms consumers. NextEra announced the deal in May, saying it would create the world's largest regulated electric utility, serving roughly 10 million customers across Florida, North Carolina, South Carolina and Virginia. The companies proposed $2.25 billion in bill credits for Dominion customers over two years post-closing. The merger is expected to close in mid-to-late 2027. NextEra and Dominion did not immediately respond to requests for comment.