NextEra-Dominion merger could jack up electricity prices, lawmakers warn
Democratic lawmakers are warning that the proposed $67 billion merger between NextEra Energy and Dominion Energy could reduce competition and raise electricity prices for consumers.
In a letter to the Federal Energy Regulatory Commission (FERC) on Wednesday, the legislators expressed concern that the enlarged company would have excessive market power, allowing it to pass costs on to ratepayers, defer upgrades on the energy grid and avoid scrutiny from federal regulators. The new company could also use its control over transmission lines to disadvantage rivals, according to the lawmakers.
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