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Dominion and NextEra accept 101 merger conditions, reject a rate moratorium
The companies answered 117 proposed conditions
- $67 billion
- all-stock value of the proposed merger
- 117
- conditions proposed by SCC staff and Consumer Counsel
- 101
- accepted as proposed
- 13
- accepted with enhancements or changes
Sources: WTVR.com, Royal Examiner
If you pay a Dominion Energy Virginia bill, today's hearing is about you. In their latest filing, Dominion and NextEra accepted 101 of the 117 conditions proposed by State Corporation Commission staff and the Consumer Counsel as written, and 13 more with changes.
They rejected a three-year rate freeze and 10-year staffing protection. They're offering $10 in monthly bill credits for four years. Gov. Abigail Spanberger asked for $29 a month or a six-year freeze on residential base rates.
- Hearing: Thu., Nov. 5, 2 to 5 p.m.
- Where: 1300 E. Main St., Richmond
- New: two independent board members
- New: bankruptcy protections if NextEra's credit ratings decline
The governor asked for $29 a month; the companies offered $10
Source: WTVR.com
View as table
| Value | |
|---|---|
| Companies' offer | $10 |
| Spanberger's request | $29 |
Ben Weintraut of Duke's Nicholas Institute told CBS 6 that what's still missing is an estimate from the companies of how much the merger would lower costs, plus a way to check it later.
