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To approve of the City’s participation as Respondent in the Commonwealth of Virginia State Corporation Commission Case No. PUR-2026-00112, Joint Petition of Dominion Energy, Inc., Virginia Electric and Power Company, OSW Project LLC, WG Development Corp., CS HoldCo, LLC, and NextEra Energy, Inc. for approval of a disposition and acquisition of control of a public utility pursuant to Chapter 5 of Title 56 of the Code of Virginia.
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WHEREAS, on July 15, 2026, Dominion Energy, Inc., Virginia Electric and Power Company, OSW Project, LLC, WG Development Corp., CS HoldCo, LLC, and NextEra Energy, Inc. filed with the Commonwealth of Virginia State Corporation Commission a joint petition for authority for the disposition and acquisition of control of a public utility pursuant to the Utility Transfers Act, §§ 56-88 et seq. of the Code of Virginia (1950), as amended (“Joint Petition”); and
WHEREAS, pursuant to Rule 5 VAC 5-20-80(B) of the Rules of Practice and Procedure of the State Corporation Commission, filing a notice of participation is “the proper initial response” to an application submitted to the Commission for approval of the acquisition or disposition of a control of a public utility pursuant to section 56-88.1 of the Code of Virginia (1950), as amended; and
WHEREAS, the City of Richmond has a critical interest in the outcome of this proceeding because this acquisition would create the world’s largest regulated electric utility, with one of two headquarters in the City, potentially impacting rates and service to all Richmond residents and to the City itself;
NOW, THEREFORE,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF RICHMOND:
That the City Council approves of the City’s participation as Respondent in State Corporation Commission Case No. PUR-2026-00112, Joint Petition of Dominion Energy, Inc., Virginia Electric and Power Company, OSW Project LLC, WG Development Corp., CS HoldCo, LLC, and NextEra Energy, Inc. for approval of a disposition and acquisition of control of a public utility pursuant to Chapter 5 of Title 56 of the Code of Virginia.
DATE: August 21, 2025
TO: The Honorable Members of City Council
THROUGH: RJ Warren, Council Chief of Staff
FROM: Cynthia Newbille, 7th District Councilmembers
RE: To approve of the City’s participation in Case No. PUR-2026-00112, Joint Petition of Dominion Energy, Inc., Virginia Electric and Power Company, OSW Project LLC, WG Development Corp., CS HoldCo, LLC, and NextEra Energy, Inc. for approval of a disposition and acquisition of control of a public utility pursuant to Chapter 5 of Title 56 of the Code of Virginia.
CNL-2026-0087
PURPOSE: A Resolution to approve of the City’s participation in Case No. PUR-2026-00112, Joint Petition of Dominion Energy, Inc., Virginia Electric and Power Company, OSW Project LLC, WG Development Corp., CS HoldCo, LLC, and NextEra Energy, Inc. for approval of a disposition and acquisition of control of a public utility pursuant to Chapter 5 of Title 56 of the Code of Virginia.
BACKGROUND: A resolution is requested to formalize the City’s participation in this case, a joint application from NextEra Energy and Dominion Energy to dispose of and acquire utility assets pursuant to the Utility Transfers Act, §§ 56-88 et seq. of the Code of Virginia. This merger is expected to be valued at approximately $67 billion and impact all City of Richmond electricity ratepayers. By participating, the City of Richmond would become a party to the case and may review documents related to the case and provide testimony or other evidence.
COMMUNITY ENGAGEMENT: N/A
STRATEGIC INITIATIVES AND OTHER GOVERNMENTAL: N/A
FISCAL IMPACT: N/A
DESIRED EFFECTIVE DATE: Upon adoption
REQUESTED INTRODUCTION DATE: September 8, 2026
CITY COUNCIL PUBLIC HEARING DATE: N/A (Expedited Consideration)
REQUESTED AGENDA: N/A (Expedited Consideration)
RECOMMENDED COUNCIL COMMITTEE: N/A (Expedited Consideration)
AFFECTED AGENCIES: Office of the Mayor and Office of Intergovernmental Affairs
RELATIONSHIP TO EXISTING ORD. OR RES.: None
ATTACHMENTS: N/A
STAFF: RJ Warren, Council Chief of Staff, (804-646-5921)