Virginia regulators weigh $67 billion NextEra-Dominion merger amid recusal debate

The Virginia State Corporation Commission has begun accepting public input on NextEra Energy’s $67 billion offer to buy Dominion Energy, with a decision due by January. A joint hearing with the Energy Commission of Virginia highlighted controversy over SCC chair Kelsey Bagot’s prior role as a senior attorney at NextEra, prompting some legislators and ratepayer advocates to demand her recusal, while Bagot and fellow commissioners argue she can remain impartial.

Dominion officials claim the merger would generate $1.78 billion in shareholder-funded bill credits for customers and improve financing efficiency. Governor-appointed official Abigail Spanberger announced plans to monitor the transaction, citing concerns about affordability, jobs, and the state’s clean-energy targets. Energy analyst Steve Haner warned that prolonged regulatory scrutiny could increase costs for Virginians. Meanwhile, Speaker Don Scott noted Dominion is seeking refunds on tariffs paid for the Coastal Virginia Offshore Wind project, which could further affect ratepayers.