The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
A massive US utility merger faces a major regulatory hurdle after Senator Angus King urged the Federal Energy Regulatory Commission (FERC) to reject NextEra Energy's proposed $66.8 billion acquisition of Dominion Energy. The senator warned that the deal would concentrate too much power in a single company, harming competition and raising costs for consumers.
The request comes as the market awaits FERC's decision—the agency has previously blocked or imposed tough conditions on large utility mergers. Per market data, Dominion closed at $69.39 and NextEra at $88.56 on June 26, indicating cautious positioning by investors.
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Sign InTraders are now watching for any regulatory or political signals that could determine the deal's fate. With both stocks trading near their recent highs ($69.85 for Dominion and $88.56 for NextEra), the coming weeks could bring sharp volatility depending on FERC's final ruling.