Op-Ed by Victoria Higgins, CCAN Action Fund’s Virginia Director, initially published in Richmond Times Dispatch.
Recently, NextEra CEO John Ketchum joined President Donald Trump in the Oval Office to celebrate a $54 billion investment in a new gas pipeline in Alaska. In his remarks, Mr. Ketchum said Trump has done an “amazing” job on energy.
Really?
If NextEra welcomes Trump’s energy policies, Virginians have cause to be concerned about the Florida-based company’s proposed acquisition of Dominion Energy.
Donald Trump promised voters he would cut electricity prices in half within 18 months; instead, by that deadline, residential rates had climbed at twice the rate of inflation. This was not bad luck; it was policy. His signature tax law gutted the clean energy credits that were bringing the cheapest new power onto the grid, and Rhodium Group projects that this move alone will push the national average household energy bill up by $78–$192 a year by 2035. Then Trump launched a war with Iran, choking off the Strait of Hormuz through which a fifth of the world’s LNG flows. The Pentagon estimates this has already cost $29 billion.
In a move so transparently ideological it’s nearly satirical, the administration has now agreed to pay more than $2.5 billion in taxpayer money to developers just to walk away from their offshore wind leases — after courts blocked Trump’s earlier attempts to kill the industry outright. That’s money spent to guarantee less power: offshore wind would have saved regional ratepayers roughly $400 million last winter. Estimates suggest that canceling the five major East Coast projects the administration tried to halt would add $45 billion to the bills over the next decade.
It’s all well and good for Mr. Ketchum. NextEra’s John Ketchum took home $24.2 million the same year Florida regulators approved a record $6.9 billion rate hike for its Florida Power & Light subsidiary. He is hellbent on “winning the AI race” and proudly brags that his company is spending a billion dollars a week to build the energy infrastructure to get there. And he’s not alone: 51 investor-owned electric and gas companies paid their CEOs a combined $626 million in 2025, while everyday families struggled to keep the lights on while putting food on the table. The numbers paint a picture of two Americas: nearly all (98%) Dominion shareholders voted in favor of handing the keys to Virginia’s energy future to NextEra. In contrast, 3 in 4 Virginia voters (76%) said the merger will raise electricity costs.
All of this makes it very clear to me: NextEra is not here out of a benevolent desire to achieve “capital and operating efficiencies” to the benefit of Virginia ratepayers. It is here to win the AI race, and the company is willing to shake hands with the Trump administration to do so. And if its track record in Florida is any indication, I worry it may be willing to go further than shaking hands.
Though the companies tried to withhold the document, a Virginia regulatory hearing examiner recently ordered Dominion and NextEra to release the infamous “Robo memo” to intervenors, which details an investigation into subsidiary Florida Power & Light’s alleged illegal political conduct in the Sunshine State. Among the allegations are that the company funded ghost candidates to spoil elections and surveilled journalists. While NextEra agreed to settle a related shareholder lawsuit and was never formally charged, the regulators’ choice to force the release of the memo in the merger proceeding is good news. It is an acknowledgment that political conduct is relevant to the companies’ ability to ensure just and reasonable rates.
Virginians won’t get a vote on whether to approve the merger, so they’re counting on regulators to read the fine print and the secret memos very, very closely. That due diligence should include the question: If NextEra thinks the last two years of Trump’s energy policy have been “amazing,” what does it have in store for Virginia?
Op-Ed by Victoria Higgins, CCAN Action Fund’s Virginia Director, initially published in Richmond Times Dispatch.
About the author: Victoria Higgins is the Virginia Director for CCAN Action Fund. Her career in environmental advocacy began with Green Corps, a rigorous training program for environmental organizers.
She worked on campaigns with Mighty Earth, Conservation Colorado, and Environment Virginia to hold corporate polluters accountable, pass state climate policy, and limit plastic pollution in Virginia’s waterways.
She received a Master of Science in Energy Policy and Climate at Johns Hopkins University.















