by Steve Haner
Dominion Energy Virginia and NextEra Energy are expected to file the necessary Virginia application for the sale of Dominion to the Florida company soon, probably in early July. Under present Virginia law, the State Corporation Commission will have six months to say yea or nay.
Readers should first understand this is an acquisition more than a merger. Dominion is being sold to the larger entity. It is a voluntary sale, assuming Dominionโs stockholders approve it. ย
Last week the legislative Energy Commission of Virginia got a briefing on the proposal from Dominion President Ed Bain, who basically stuck to data slides and talking points already on the record. Then it heard from a veteran lawyer and economist with deep experience in this kind of proposal. If you have any real interest in what his coming, read these notes he shared. They are less than a dozen pages in bullet format, easy to follow. (Links to the company sales pitch were included in this earlier post.)
Scott Hempling is an attorney and economist now teaching at Georgetown University after a long career in the power generation industry. He served for a while as an administrative law judge for the Federal Energy Regulatory Commission and has been an expert witness or consultant on a host of previous merger or acquisition debates.
The six-month statutory deadline for a decision by the SCC is also causing quite a bit of angst in many circles. That would have the case be decided before the General Assembly is back for the 2027 session, assuming Dominion files in early July. To its credit, the SCC is not waiting for the application and is already hitting the companies with questions.ย












