NextEra Energy’s (NYSE:NEE) proposed $67 billion acquisition of Dominion Energy (NYSE:D) is facing political opposition in Virginia as the transaction undergoes regulatory review, the Financial Times reported on Tuesday.
Virginia Governor Abigail Spanberger has said she is “deeply sceptical” of the proposed acquisition and has intervened in the regulatory process, according to the report.
The FT said Spanberger is seeking measures intended to reduce electricity bills, protect employment and accelerate clean-energy development as part of the review.
Virginia Officials Raise Concerns Over Proposed Deal
Other senior state officials and lawmakers have also opposed the transaction, according to the FT.
A group of Democratic members of the U.S. Congress has separately warned that the acquisition could reduce competition and increase electricity prices. These concerns represent the positions of the lawmakers and do not establish that the proposed transaction would produce those outcomes.
The acquisition remains subject to regulatory review, and the supplied material does not indicate that a final decision has been reached.
NextEra and Dominion Extend Customer and Employee Commitments
NextEra and Dominion have sought to address concerns surrounding the transaction by modifying commitments related to customers and employees, according to the FT.
The companies have extended approximately $2.2 billion of proposed customer bill credits over four years. They have also increased their commitment to retain Dominion employees to five years, the report said.
The supplied material does not provide further details on the conditions attached to these commitments or the remaining regulatory process.
U.S. Utility Transactions Reach $205 Billion
The proposed acquisition comes during an increase in U.S. utility-sector transactions.
U.S. utility deals reached a record $205 billion during the first half of 2026, according to Deloitte data cited by the Financial Times.
At $67 billion, the proposed NextEra-Dominion transaction would be the largest U.S. utility deal, according to the supplied material.
NextEra Energy stock price
Dominion Energy stock price
