"Anytime there's a merger there's a worry consumers might face raising rates,"
"NextEra Energy said on Monday it plans to acquire Dominion Energy in a roughly $67 billion deal, The merger will require both federal and state approvals, including in Virginia, North Carolina and South Carolina. Those three states would be covered by the merged company, as well as Florida."
"John Ketchum, NextEra Energy's CEO, said in a press release that the larger scale and efficiencies gained from merging would translate "into more affordable electricity for our customers in the long run." NextEra is proposing to give Dominion Energy customers in Virginia, North Carolina and South Carolina $2.25 billion in bill credits over two years."
"Shelby Green, a research and communications manager covering the Southeast region for the Energy and Policy Institute, isn't convinced. She said in the long run customers should expect their rates to go up and that's what happened after a previous merger involving Nex"
NextEra Energy plans to acquire Dominion Energy in a roughly $67 billion deal that would require federal and state approvals, including in Virginia, North Carolina, and South Carolina, with Florida also covered. Electricity demand is increasing due to the AI boom, while residential electricity rates have risen 7.4% in February compared with a year earlier, with Virginia up 12.2%. Politicians are responding to higher costs, including Virginia’s bill requiring data centers to be responsible for electricity costs. NextEra says the merger’s scale and efficiencies would produce more affordable electricity over the long run and proposes $2.25 billion in bill credits over two years for affected customers. Advocates expect long-term rate increases based on prior merger outcomes.
Read at www.npr.org
Unable to calculate read time
Collection
[
|
...
]