Dominion-NextEra merger plan may slow clean energy transition

September’s revised merger agreement between Dominion Energy and NextEra includes clues about future resource decisions in Virginia that should concern state regulators, political leaders, and renewable energy proponents. 

Despite the success of the utility’s current offshore wind projects and promises of consumer fuel cost savings related to the renewable technology, the merger agreement fails to mention offshore wind at all. 

Prior to the merger announcement, developing additional offshore wind was clearly a consideration for Dominion, but NextEra largely dismisses offshore wind—meaning the merger could challenge the state’s renewable energy transition.

NextEra is looking out for its shareholders first and foremost, and not Virginia ratepayers. Politicians, regulators, and energy advocates in the commonwealth need to keep that point front and center as they consider the massive merger proposal in the months ahead.