NextEra, Dominion accept most Virginia merger conditions

NextEra Energy

Tue 12:36

Nov 3 (Reuters) - NextEra Energy NEE.N and Dominion Energy D.N on Tuesday accepted 101 of 117 conditions proposed by Virginia regulators and consumer advocates, offering additional customer and financial safeguards to advance their proposed merger.
Here are more details:
The companies accepted a further 13 conditions with modifications, according to rebuttal testimony filed with the Virginia State Corporation Commission
Announced in May, the deal would create one of the world's largest electric utilities
The revised proposal adds safeguards to preserve Dominion Energy Virginia's independence and financial strength
Customers would receive four years of shareholder-funded residential bill credits
The deal includes $100 million for workforce training and up to $5 billion in spending on Virginia suppliers over five years
The two utilities expect the transaction to close in the second half of 2027


 (Reporting by Pranav  Mathur in Bengaluru; Editing by Tasim Zahid)
 ((Pranav.Mathur@thomsonreuters.com;))