Your BillThursday, November 5
Dominion and NextEra accept 101 merger conditions but reject a rate moratorium
The 5AM Mechanicsville team
If you pay a Dominion Energy bill, this one's yours. Dominion and NextEra accepted 101 of the 117 proposed conditions as they seek approval for their $67 billion merger, and took 13 more with changes. The all-stock deal would create the largest regulated utility in the country.
They turned down a three-year moratorium on certain rate increases and a 10-year job protection. They offer $10 in monthly bill credits for four years. Duke researcher Ben Weintraut told CBS 6 the companies still haven't estimated how much the merger would lower costs.
The companies offered $10 a month; Spanberger asked for $29
Source: WTVR.com
View as table
| Value | |
|---|---|
| Companies' offer | $10 |
| Spanberger's request | $29 |
- Proposed: two independent board members
- Proposed: bankruptcy protections if NextEra's credit ratings decline
- Rejected: Spanberger's six-year freeze on residential base rates
The State Corporation Commission holds an in-person hearing today from 2 to 5 p.m. at 1300 E. Main St. in downtown Richmond.
Sources: WTVR.com, Royal Examiner