Expert Witness Testimony Opposing Dominion-NextEra Merger

October 19, 2026

By Tyson Slocum

Public Citizen serves as an expert witness in testimony before the Virginia Corporation Commission. The transaction involves NextEra acquiring Dominion, thereby subsuming Dominion within NextEra. NextEra is the dominant entity making the acquisition, and therefore Dominion’s assets and operations should be considered as subsidiaries to NextEra’s investment strategies. In my view, NextEra’s primary financial justifications for the transaction are to use Dominion’s assets and service territory to maximize monetization opportunities on behalf of its unregulated NextEra Energy Resources division, while at the same time using Dominion’s regulated, franchise utility as a hedge against data center and unregulated NEER market risk. This dynamic exposes Dominion’s regulated utility operations and residential ratepayers to unacceptable risk. Some may ask why Dominion agreed to the acquisition, and the simple explanation is that investors and top executives will earn a windfall from NextEra’s price premium, but Dominion’s ratepayers will not. For these and other reasons, Virginia regulators should reject the transaction. Read the full testimony here: slocum-direct-testimony-10-19