Governor Lamont and Attorney General Tong Cite Concerns Over Rising Energy Costs in Criticism of Proposed NextEra-Dominion Merger

Merger Would Create One of the World's Largest Utility Companies, Consolidate All New England Nuclear Power Under One Company

(HARTFORD, CT) - Governor Ned Lamont and Attorney General William Tong today announced that the State of Connecticut is intervening in the regulatory review of the proposed merger between NextEra Energy and Dominion Energy, arguing it poses a great risk to Connecticut families who already face unaffordable energy costs. The $67 billion merger would create one of the world's largest utility companies and place control of all of New England's nuclear power under one entity, effectively eliminating price competition for a resource that provides a majority of the state's power.

Connecticut's Office of the Attorney General, Department of Energy and Environmental Protection, and Office of Consumer Counsel have all intervened in the Federal Energy Regulatory Commission (FERC) docket regarding the proposed merger of Florida-based NextEra Energy, which owns Seabrook nuclear power plant in New Hampshire and Virginia-based Dominion Energy, the owner of Connecticut's Millstone Nuclear Power Station. The transaction is being reviewed by FERC, the U.S. Department of Justice, and the U.S. Nuclear Regulatory Commission, and also requires approval from the states of Virginia, North Carolina, and South Carolina.

"We've seen what happens when utility companies establish near-monopolies: Connecticut families pay the price while shareholders reap the rewards," Governor Lamont said. "We're intervening to protect the best interests of Connecticut families and businesses and to ensure the regulatory review process considers the potential risks this merger poses for Connecticut ratepayers, who already pay some of the highest utility prices in the country."

Earlier today, the New England States Committee on Electricity (NESCOE) urged "the highest level of scrutiny in reviewing NextEra's proposed acquisition of Dominion by FERC, the Department of Justice, and all other regulatory bodies reviewing this proposed transaction."

"Connecticut families and businesses are getting crushed by surging energy costs," Attorney General Tong said. "The last thing we need is consolidated corporate control over the core of Connecticut's energy supply. I cannot support this merger. The Office of the Attorney General has intervened in this proceeding and is weighing all legal options to protect Connecticut's access to affordable, clean, reliable energy."

The combined company would operate the largest natural gas generation fleet in the country, would be the second-largest nuclear operator nationally, and would be the largest owner of renewable and battery storage assets. It would also concentrate critical merchant generation within a single company operating in the broader New England region that includes both of the region's nuclear power plants-Seabrook Station in New Hampshire and the Millstone Power Station in Connecticut. Combined, the company would be the world's largest regulated electric utility by market capitalization, with approximately 10 million customer accounts and 110 gigawatts of owned generation across a broad mix of energy sources.

"This proposed NextEra and Dominion merger would have significant impacts on Connecticut energy consumers, as it would concentrate control over much of New England's energy generation resources and infrastructure," Connecticut Consumer Counsel Claire Coleman said. "Yet state regulators will have no say in this transaction's approval process because neither NextEra nor Dominion are regulated utilities in Connecticut. That's why, alongside our state and regional partners, we're intervening on behalf of Connecticut residents to ensure affordability and reliability remain top of mind as the transaction is evaluated by federal regulators."

Policies to lower energy costs

The State of Connecticut has fought aggressively on behalf of utility ratepayers. Since taking office in 2019, Governor Lamont has enacted policies that seek to reduce energy costs and increase oversight of utilities. He has signed legislation that:

• Blocked utility companies from passing lobbying fees, political donations, payments to public relations firms, and other costs onto ratepayers;
• Imposed penalties on utilities that fail to meet performance standards;
• Ended unnecessary subsidies to utility company profits;
• Provided energy bill relief and forgiveness for the most vulnerable; and
• Lowered the cost of solar energy by automating local permitting and encouraging the combination of solar and batteries.

Attorney General Tong and Consumer Counsel Claire Coleman have advocated for ratepayers at every major proceeding before the Connecticut Public Utilities Regulatory Authority. Those efforts have blocked upwards of $1 billion dollars in requested rate hikes from gas, electric, and water companies.

Governor Lamont has also made smart, long-term investments in clean energy, including nuclear power and offshore wind. For example, Connecticut's nuclear contracts, which provide energy at fixed prices and insulate ratepayers from volatile fossil fuel pricing have saved Connecticut ratepayers more than $250 million in 2025 and $280 million so far in 2026, for a lifetime total savings of more than $450 million.

In April, Governor Lamont announced that the average Connecticut ratepayer would soon see a roughly $30 to $34 decrease in their electricity bills, driven by a decrease in the public benefits charge. Rather than a charge, this often-misunderstood line item became a credit on bills.

Governor Lamont has also overseen further diversification of the state's energy production by fighting the Trump administration to complete construction of Revolution Wind. Attorney General Tong successfully sued the Trump administration in 2025 over efforts to suspend work on the Revolution Wind offshore wind project, which is now operational and expected to deliver 2.5% of the region's electricity supply. Revolution Wind is projected to save Connecticut and Rhode Island ratepayers hundreds of millions of dollars over 20 years.