Dozens protest NextEra-Dominion deal in Richmond
Some four dozen people gathered at the Bell Tower on Richmond's Capitol Square on Monday to protest NextEra Energy’s proposed acquisition of Dominion Energy.
Speakers at the rally said they believe the merger would send power bills soaring and bring more data centers and fossil fuel-fired power plants to the state.
NextEra, Dominion detail reasons, terms of proposed merger
Florida-based NextEra last week filed its plan to acquire Virginia-based Dominion with the State Corporation Commission through a stock swap that Wall Street analysts say is worth about $67 billion. In addition, NextEra shareholders are paying for $1.78 billion in bill credits for Dominion's Virginia customers.
The combination would be the world's largest owner of renewable energy — solar and wind — as well as battery storage. It also would be the largest operator of gas-fired power plants in the nation and the second-largest operator of nuclear plants.
“We’re here for one simple reason: Our power isn’t for sale,” said Melissa Thomas, policy director for the Climate Equity Working Group, a coalition of seven advocacy groups.
“This is about who gets to decide Virginia’s future. NextEra CEO told investors why they want this deal. He called it America’s next golden age of power demand. The golden age for NextEra, a golden age for data centers, not a golden age for Virginians,” she said.
In addition, “He said the [merged] company would become the go-to partner for large low customers … utility talk for data centers. That’s code for handing over Virginia’s power grid to big tech. They see Virginia as easy pickings, as dollar signs,” she said.
The rally called on Gov. Abigail Spanberger and the General Assembly to kill the deal, which is subject to review by the SCC, federal regulators and state regulators in north and south Carolina, any one of which can stop the merger.
Under state law, the SCC has until early next year to review and act on the transaction.
“I don’t know about you, but I’m damn scared when two heavyweights get in the room and decide we’re going to come together. That’s a lot of weight. That’s a lot of power, and those are a lot of resources,” state Sen. Mike Jones, D-Chesterfield, told the rally.
Dave Ress (804) 649-6948 dress@timesdispatch.com
