The Progressive-Democrat Abigail Spanberger ran as a centrist moderate for, and won, the governorship of Virginia. Then, in typical Progressive-Democrat duplicity, she began governing from the Far Left. (In truth, it’s also understandable and predictable, since the Far Left has become the Party’s center.) Spanberger’s latest example is her demand for NextEra and Dominion Energy to agree to redistribute their wealth as a condition for approving their proposed merger. The one is the world’s largest solar and wind producer and the other is a major electricity utility, and their merger would provide large synergies while spurring innovation.
Spanberger’s conditions:
- freeze residential base electric rates for six years,
- provide ratepayers a $29 monthly “credit” for four years
- agree not to cut off customers who don’t pay their bills “due to financial hardship,” however that is defined
- provide discounted rates to customers with electric vehicles and heat pumps
- remove the cap on the state’s net-metering program
These, of course, eliminate those synergies of combination by forcing the new company to pay out all of those otherwise realizable cost reductions to those entities favored by the Progressive-Democrat, instead of committing those cost reductions to innovation and real future benefits to customers.
There is an obvious solution to Spanberger’s extremist demands: NextEra and Dominion should go through with the merger and go out from Virginia altogether. Since Spanberger isn’t serious about business in Virginia, there’s no reason for businesses to be serious about Virginia.