MarketPR
The proposed merger between NextEra Energy (NEE) and Dominion Energy (D) is in focus after Virginia's governor announced plans to intervene in the regulatory review, citing concerns about electricity prices.
Virginia's State Corporation Commission is the designated body tasked with reviewing the transaction and will deliver one of three outcomes: acceptance, rejection, or conditional approval with terms attached.
The governor's entry into the proceeding adds executive pressure to a review whose ruling will determine the pricing terms Virginia electricity customers face under a combined company.
The commission's authority Virginia's State Corporation Commission holds formal jurisdiction over the merger. The commission accepts input from intervening parties, and the governor's office is now among them.
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