NextEra–Dominion Merger: Lt. Gov. Hashmi Opposes as SCC Hearings Draw Overwhelming Public Opposition
The $67B NextEra–Dominion merger fight (NextEra–Dominion Merger: Lt. Gov. Hashmi Opposes as SCC Hearings Draw Overwhelming Public Opposition) escalated in the first half of October 2026, with the case's ratepayer-protection politics now fully out in the open.
Lt. Gov. Ghazala Hashmi formally opposed the deal on Oct 6 — the first statewide elected official to do so — after a five-city listening tour (Loudoun, Norfolk, Richmond, Charlottesville, Roanoke). Per the Virginia Mercury:
"I've concluded that the proposed takeover of Dominion Energy with NextEra is not in the best interest of Virginians," Hashmi said at a press conference at Virginia's Capitol in Richmond.
Her report flagged NextEra's "thousands of individual project entities, many in businesses far richer riskier than a regulated utility" (per Utility Dive) and the stranded-asset risk if projected data center demand doesn't materialize — leaving residential customers "paying for even more of the cost of what NextEra builds." Gov. Spanberger remains a formal intervenor (with standing to appeal to the Supreme Court of Virginia) but has not endorsed opposition.
The SCC's local hearings ran overwhelmingly against the deal. At the Oct 7 Newport News hearing and the Oct 9 Fairfax hearing, opposition dominated; the Pilot reported one speaker called the bill-credit package's amount and length "insulting." State Sen. Mike Jones (D-Richmond) delivered the sharpest cost-allocation line at Hashmi's press conference:
"A promise and a press release is not protection on a power bill. When the commitments expire, it will not be the shareholders who pay, it will be everyday working Virginians."
Procedural state of play: the companies moved to postpone the evidentiary hearing by two months (motion pending at the SCC); an SCC examiner ruled Oct 2 that NextEra's records on its failed attempt to take over a Florida utility are in scope for review; and on Oct 5 a hearing examiner ordered Dominion to release a memo on an FPL investigation. Attorney General Jay Jones and several lawmakers have called for extending the review period. State regulators have until Jan. 11 to approve or reject the deal unless the timeline is extended — a decision expected January 2027 (watch already registered).
What it means: the enhanced benefits package (four-year bill credits, Richmond HQ, $2.25B package with residential credits taken in lieu of data-center credits) is being publicly reframed by opponents as expiring window-dressing against a structural cost-allocation question. The enforceability of those credits — and any ring-fencing conditions — is now the case's central issue, with Dominion (D) trading at $61.64, −13.1% over three months (/markets/D/2026/10/12).