Virginia governor says she will file documentation to intervene Dominion-NextEra merger
NEE•Spanberger says details are still needed
"They're not sufficient yet, which is one of the reasons why I've chosen to intervene in the case. Because I need a lot more details."
The companies announced the plan to merge in May with the aim to form one of the world's largest electric utilities during an expansion of energy-intensive data centers.
"The action of actually formally intervening, it is an unprecedented one. As a governor, I do acknowledge that," Spanberger said, adding that "the size and scope of this merger application is also unprecedented."
Governor plans to join Virginia regulatory review
Virginia Governor Abigail Spanberger said on Thursday she would intervene in the regulatory review of NextEra Energy's <NEE.N> proposed $66.8 billion merger with Dominion Energy <D.N> to press for commitments on electric bill affordability, job protections and clean-energy investments.
The governor said she would formally become a party to the case before the Virginia State Corporation Commission, giving her access to filings and the ability to raise questions and concerns about the transaction.
Deal would create third-biggest U.S. energy company
The deal, which is pending approvals, will create the third-biggest U.S. energy company, behind oil majors Exxon <XOM.N> and Chevron <CVX.N>, and an entity with an enterprise value topping the next two largest U.S. power companies combined.
Spanberger said she was not seeking to take the decision out of regulators' hands, noting that "the decision to approve or deny...that authority still lies with the SCC".
