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Sen. Angus King, I-Maine, is urging the Federal Energy Regulatory Commission to reject a planned merger between NextEra Energy and Dominion Energy, saying NextEra engaged in anticompetitive behavior in New England that hurt consumers.
“The combination would create the largest electric utility in the United States, concentrating an unprecedented mix of merchant generation, rate-based generation, and transmission assets in the hands of a single company with a documented record of using its market position and political resources to suppress competition that threatens its merchant revenues,” King said in a letter released Monday by FERC.
NextEra, based in Juno Beach, Florida, and Dominion, headquartered in Richmond, Virginia, didn’t return requests for comment. They have not filed a merger application at FERC yet.
The issue centers on the planned $67 billion merger between NextEra and Dominion, announced in mid-May. The deal would give the combined company about 110 GW of generation and 10 million utility accounts in Florida, Virginia, North Carolina and South Carolina, according to the companies.
