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To express the Council’s opposition to approval of 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 the disposition and acquisition of control of a public utility pursuant to Chapter 5 of Title 56 of the Code of Virginia unless and until Petitioners agree to specific commitments in a binding stipulation agreement to be submitted to the State Corporation Commission.
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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, by Resolution No. 2026-R034, adopted September 10, 2026, Council approved of the City’s participation as Respondent in the case pursuant to Rule 5 VAC 5-20-80(B) of the Rules of Practice and Procedure of the State Corporation Commission, allowing the City to review documents related to the case and provide testimony or other evidence; and
WHEREAS, by Resolution No. 2023-R005, adopted February 13, 2023, Council approved the RVAgreen 2050 Climate Equity Action Plan, legally committing the City to a 45% reduction in greenhouse gas emissions by 2030 and net-zero emissions by 2050, centered on environmental justice and reducing energy burdens in historically marginalized communities; and
WHEREAS, on September 14, 2026, the Joint Petitioners publicly announced a “Virginia benefits package” including a new downtown Richmond office tower, capital workforce pipeline investments, and residential bill credits; and
WHEREAS, upon the information and belief of Council, these public relations commitments currently exist as non-binding corporate announcements rather than legally binding, judicially enforceable requirements, creating an unacceptable risk of corporate abandonment post-merger; and
WHEREAS, upon the information and belief of Council, past studies show that mergers often lead to increased ratepayer costs and financial risk, resulting in worse affordability and that establishment of a larger, inter-state monopoly will likely reduce transparency for oversight; and
WHEREAS, upon information and belief of Council, the City of Richmond is home to Dominion Energy, Inc.’s headquarters and, despite recent commitments to build a second tower and operate as part of a co-headquarters model, a $67,000,000,000 merger represents a tangible risk to the local economy of the City of Richmond with potential for significant job losses after the five-year commitment to maintain current employee headcount levels in Virginia expires; and
WHEREAS, upon the information and belief of Council, the merger risks the City’s decarbonization and sustainability goals becoming less of a priority, especially given the growth in data centers projected to occur elsewhere in Dominion Energy Inc.’s territory that may require greater reliance on natural gas;
NOW, THEREFORE,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF RICHMOND:
That the Council hereby opposes the approval of the Joint Petition for approval of the disposition and acquisition of control of a public utility pursuant to Chapter 5 of Title 56 of the Code of Virginia (1950), as amended, unless and until Petitioners agree to the following within a binding stipulation agreement to be submitted to the State Corporation Commission:
1. Enforceable Climate Equity: That the merger will not displace, delay, or increase the cost of Richmond’s RVAgreen 2050 Plan goals, including aggressive local solar, storage, and net-zero municipal operations;
2. Enforceable Corporate and Economic Commitments: That the capital infrastructure improvements publicly pledged by the Joint Petitioners on September 14, 2026-specifically including the construction of a new downtown corporate headquarters facility-must break ground within 24 months from the date of the State Corporation Commission’s Final Order, alongside an absolute corporate prohibition against reducing the existing Virginia-based employment headcount for a minimum of 15 years from the date of the State Corporation Commission’s Final Order; and
3. Permanent Ratepayer Protections: That the temporary corporate bill credit offer shall be converted into a permanent, structured rate reduction for households experiencing extreme energy burdens in Richmond's lowest-income census tracts.
DATE: September 18, 2026
TO: The Honorable Members of City Council
THROUGH: RJ Warren, Council Chief of Staff
FROM: The Honorable Kenya Gibson, Councilmember 3rd District
RE: To express the Council’s potential opposition to approval of 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 authority for the disposition and acquisition of control of a public utility pursuant to Chapter 5 of Title 56 of the Code of Virginia unless specific commitments are legally enshrined in the binding stipulation agreement with the State Corporation Commission.
CNL-2026-0104
PURPOSE: A Resolution to express the Council’s potential opposition to approval of 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 authority for the disposition and acquisition of control of a public utility pursuant to Chapter 5 of Title 56 of the Code of Virginia unless specific commitments are legally enshrined in the binding stipulation agreement with the State Corporation Commission.
BACKGROUND: The City Council recently adopted Resolution No. 2026-R034 to approve of the City’s participation in the State Corporation Commission (SCC) case of the NextEra and Dominion merger. This resolution goes a step further to express the Council’s potential opposition to the merger contingent on legal enshrinement of commitments announced by Dominion and NextEra in a press release on September 14, 2026 (see attached).
The Council is concerned that the merger may preclude the City from achieving its RVAgreen 2050 Climate Equity Action Plan as well as potential for increased costs for ratepayer, and risk to the City’s local economy given Dominion’s headquarters being located downtown.
Clean Virginia published two issue briefs that further outline concerns with the merger:
• “NextEra-Dominion Energy Merger”
• “Ratepayer Impacts: NextEra’s Proposed Acquisition of Dominion Energy”
COMMUNITY ENGAGEMENT: Community members and advocates across the City of Richmond and Commonwealth have been organizing since July 2026 to bring awareness and attention to the NextEra Merger. Council has heard from a variety of stake holders and residents regarding their concerns with affordability, the environment, and lack of public scrutiny and oversight.
STRATEGIC INITIATIVES AND OTHER GOVERNMENTAL:
• A Thriving and Sustainable Built Environment including reduced carbon emissions and work towards net zero emissions as well as advance the goals of RVAgreen 2050.
• A Thriving Economy including to grow Richmond’s economy and build a vibrant downtown where people love to live, work, and play.
FISCAL IMPACT: N/A
DESIRED EFFECTIVE DATE: Upon adoption
REQUESTED INTRODUCTION DATE: October 13, 2026
CITY COUNCIL PUBLIC HEARING DATE: November 9, 2026
REQUESTED AGENDA: Consent Agenda
RECOMMENDED COUNCIL COMMITTEE: Government Operations
AFFECTED AGENCIES: Office of the Mayor; Office of Intergovernmental Affairs
RELATIONSHIP TO EXISTING ORD. OR RES.: Res. 2026-R034
ATTACHMENTS:
• “NextEra Energy and Dominion Energy announce transformational Virginia benefits package that puts customers first and positions the Commonwealth as a global energy leader”
• “NextEra-Dominion Energy Merger”
• “Ratepayer Impacts: NextEra’s Proposed Acquisition of Dominion Energy”
STAFF: RJ Warren, Council Chief of Staff, (804-646-5921)