Virginia Gov. Abigail Spanberger submitted testimony to the State Corporation Commission related to the proposed NextEra Energy-Dominion Energy merger calling on the energy giants to agree to freeze residential electricity rates for six years and to agree to triple monthly customer bill credits as conditions of any merger.
Dr. Richard McCann — an expert on energy, water and environmental policy — provided expert testimony on behalf of Spanberger to the SCC on Monday.
McCann, per a release from the governor’s office, has consulted on environmental and energy resource economics and policy since 1985, testifying more than 50 times before numerous regulatory agencies as well as in trial and arbitration cases.
Absent her conditions being met, Spanberger is urging the SCC to reject the $67 billion merger.
From the archives
- Coverage of the proposed NextEra-Dominion merger: click here.
“Any proposed merger involving Virginia’s primary state-regulated utility must benefit families, small businesses, and Virginia’s workforce — not just the shareholders of these multi-billion-dollar corporations,” Spanberger said in a statement released by her office on Monday.
Spanberger is also calling for reforms to lower the share of costs borne by residential customers, stronger protections against utility disconnections for Virginians, and greater investments in energy efficiency and locally generated clean energy to be included as conditions for SCC approval of the NextEra-Dominion merger.
One other condition – if you’re going to ask for something, might as well go for it all – Spanberger told the SCC that it needs to ensure large data centers bear the cost of their own energy needs and expand rooftop solar by eliminating the program’s cap.
“I remain deeply skeptical that the proposed $67 billion merger, as currently structured, will adequately protect consumers and deliver meaningful public benefits. Without enforceable commitments that meaningfully prioritize ratepayers, lower energy costs, protect Virginia’s utility workforce, and advance Virginia’s energy goals, the State Corporation Commission should reject this merger,” Spanberger said.
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Chris Graham
