State Sen. David Suetterlein and Del. Joe McNamara on Tuesday sent a request to Gov. Abigail Spanberger to call a special session of the General Assembly to extend the time limit for the Virginia State Corporation Commission to review the proposed $67 billion merger of Dominion Energy and NextEra.
As it stands under state statute, the SCC is required to issue a determination of merits of a merger within 60 days from a completed application. One extension of no more than 120 days is allowed, and if no determination is made within that time frame, approval is issued by default.
Dominion Energy and NextEra filed their proposed merger with five regulatory bodies on July 15. Those include Virginia’s State Corporation Commission, the utility commissions of North Carolina and South Carolina, the Federal Energy Regulatory Commission and the Nuclear Regulatory Commission. Virginia has the shortest timeframe to make a merger decision, the lawmakers said.
“By forcing Virginia to be the first state to approve, Virginians lose negotiating strength, and our ratepayers will suffer the economic consequences,” the two Republicans from Roanoke County wrote in their request to the governor.
(Disclosure: Dominion is one of our donors, but donors have no say in news decisions; see our policy.)
“Virginia has more Dominion Energy ratepayers than either North Carolina or South Carolina. The applicants have proposed $2.25 billion in bill credits across the three states in the companies’ opening offer. If Virginia acts first, later concessions secured elsewhere may never reach Virginia customers,” Suetterlein and McNamara said.
The two lawmakers pointed out in their request to the governor that the Virginia Constitution provides a narrow window for the General Assembly to act to extend the time limit for the SCC’s decision beyond the current 180-day limit.
“Governor Spanberger is closely reviewing this proposed merger with a focus on its potential impacts on the cost of electricity for Virginians, jobs in Virginia, and our ability to generate homegrown, renewable energy right here in the Commonwealth,” said Jack Bledsoe, spokesperson for the governor’s office. “The Governor is considering all options — to include calling a special session — to make sure the SCC has ample time and the necessary information to meet its regulatory responsibilities regarding this proposed merger.”
Legislation enacted during a special session takes effect on the first day of the fourth month following adjournment of that session. If the requested special session adjourned in August, the law would take effect Dec. 1, well before the SCC’s final deadline. But, they pointed out, a session adjourned in October would be too late. And legislation passed during the 2027 regular session is typically scheduled to take effect July 1, after the SCC’s deadline and near the companies’ anticipated closing on the merger.
