Virginia Gov. Spanberger takes unprecedented step to intervene in $67B Dominion-NextEra merger

Abigail Spanberger is stepping into the debate over a proposed $67 billion merger between Dominion Energy and Florida-based NextEra, calling it an unpreced Abigail Spanberger delivers the Democratic response to President Donald Trump's State of the Union address, Feb. (Steve Helber/AP Pool via AP) Virginia Gov.

Abigail Spanberger is stepping directly into the regulatory fight over the proposed $67 billion sale of Dominion Energy to Florida-based NextEra Energy, becoming the first Virginia governor to formally intervene in a case before the State Corporation Commission. Spanberger announced Thursday that she will seek intervenor status in the case, giving her administration the ability to question both companies, review documents and argue for conditions related to customer electric bills, Virginia jobs and the state’s energy future. “The action of actually formally intervening, it is an unprecedented one as a governor, I do acknowledge that,” Spanberger told reporters during a Zoom call Thursday afternoon.

“But frankly, the size and scope of this merger application is also unprecedented.” Spanberger said she decided to intervene after reviewing the companies’ application and hearing from Virginians concerned about what the transaction could mean for the commonwealth. If approved, the deal would place Virginia’s largest regulated electric utility under the ownership of an out-of-state company. The move does not give the governor the authority to approve, reject or rewrite the merger.

Those decisions remain with the SCC, the independent regulatory body responsible for determining whether the transaction serves public interest. “The decision to approve or deny, or potentially put a whole new set of parameters in place or offer a whole new set of parameters of a potential deal to Dominion and NextEra, that authority still lies with the SCC,” Spanberger said. But intervening will allow her administration to submit questions and raise concerns that Dominion and NextEra must answer as the commission reviews the proposal, she said, a process that’s now underway with regulators expected to approve or reject the deal in about six months.

Other individuals and organizations may also seek intervenor status. What Spanberger wants from the deal Spanberger first disclosed her plans Thursday morning in an …