Dominion Energy Shareholders to Vote 9/3 on the NextEra Merger; There’s a Shareholder Movement to Stop It

by Freeda Cathcart FLMI Dominion Energy shareholder 

Dominion Energy shareholders will vote September 3 on the NextEra Energy merger. There is a shareholder movement to stop the merger and many people don’t know that they can either directly vote on the merger or influence the vote. Numerous people are invested in Dominion Energy through their 401Ks, IRAs and pension plans. Go to this link to find out how and please share this information. Together, we can stop a merger that could hurt shareholders and consumers.

On August 15, a press conference in Sterling, Virginia and Columbia, South Carolina  launched a movement  to unite consumers and shareholders against the NextEra merger with Dominion Energy. The two locations were connected by zoom and recorded. Here is the link to the recording.

The way the merger was rolled out and the rush to get it completed is reminiscent of a scam where con artists try to confuse and rush their mark into falling into their trap. SCANA shareholders remember the VC Summer nuclear plant boondoggle that resulted in bringing the South Carolina utility to the brink of bankruptcy. That’s when Dominion Energy stepped in to acquire the utility. SCANA’s CEO was convicted and sentenced to two years in prison and millions of dollars in fines for misleading the public and shareholders. Three other SCANA executives were also convicted.

Former SCANA shareholders who became Dominion shareholders are concerned that the Dominion board and executives aren’t fulfilling their fiduciary duties by putting the corporation’s interests before their own personal interests. The timing and disclosure of the proposed merger is suspicious. The Dominion annual meeting was on May 7, 2026 and the announcement for the proposed merger was on May 18, 2026. The record date setting the special shareholder meeting for September 3, 2026 didn’t happen until July 24, 2026 . It appears that the Dominion executives and board haven’t been forthcoming to shareholders and are rushing the decision to vote on the merger.

From 3 legal duties every board member must follow:

“When individuals agree to serve as board members, they take on fiduciary responsibilities that statutory and common law require. Specifically, they have to comply with three fiduciary duties: care, obedience and loyalty… Duty of loyalty: Act in the best interests of the organization, even if it means forfeiting an opportunity that would benefit them personally. Directors must not profit at the expense of the organization, or receive unreasonable compensation or benefit from the activities of the organization or from serving on its board.”

The proposed merger contains a requirement for $2.6 billion to be paid to consumers from shareholder funds. Recently shareholders have received a modest return on their investment while noticing the compensation package for Dominion’s president went from $6 million to over $12 million in 2024. Shareholders have concerns that Dominion Energy executives are incentivized to build out unnecessary infrastructure because of the regulated 9-14% ROE on capital expenditures, which creates stranded assets that hurts shareholders and consumers. Currently Dominion is planning on building eight new methane gas plants that will undoubtedly cost consumers more than $2.6 billion to pay off.

The 2026 Dominion Energy Proxy Statement includes a table showing that the Dominion president could receive compensation of over $30 million if there was a change of control and if the executive received a reduction in responsibility.  President Robert “Bob” Blue is currently the Chair and CEO of Dominion, and if the merger goes through then John Ketchum would remain the CEO and President of NextEra. It appears that President Blue could claim that he would have had a reduction in responsibility, since there would no longer be a Dominion board for him to Chair and he would no longer be the CEO of the holding company. There are four other executives who may qualify for a Change in Control compensation package which raises the question that the fiduciary responsibility for duty of loyalty may have been compromised.

The Memo in opposition of Dominion Energy, Inc. (D) special meeting to vote on the NextEra Energy merger scheduled for September 3, 2026 addresses the following risks from the potential merger: Regulatory, AI Business Model, Litigation, Competitive and Reputational. It presents a comprehensive and compelling case for shareholders to vote no on the merger.

Contact your financial advisor to see if you or your 401K is invested in Dominion Energy and/or you may have money being handled by the following investment funds: Vanguard, BlackRock, Institutional Trust Company, State Street Global Advisors (US), Capital Research Global Investors, Wellington Management Company LLP, MFS Investment Management, Dodge & Cox, JP Morgan Asset Management, Geode Capital Management LLC, T. Rowe Price Associates Inc., Managed Account Advisors LLC. If you do, then follow the instructions on this document to contact those firms to tell them to vote no for the September 3 election on the NextEra Energy merger with Dominion Energy.