Dominion Energy sweetens Virginia merger after Democratic backlash
Dominion Energy on Monday said it updated some of the terms for its proposed merger in Virginia with Florida electric company NextEra, as the company seeks to win over Democratic skeptics.
TL;DR
- Dominion Energy updated terms for its proposed $67 billion merger with NextEra in Virginia.
- The enhanced package includes 1,000 new jobs, quadrupled residential bill credits for four years, and a $100 million workforce development fund.
- A $1 billion annual, five-year Virginia supplier program and increased low-income financial assistance are also part of the deal.
- These changes are intended to address concerns from Democratic critics about consumer rates and company power.
- Dominion has also pledged to protect consumers from rate hikes related to data centers.
- The State Corporation Commission is expected to decide on the merger by January.