PITTSYLVANIA COUNTY, Va. (WSET) — A proposed $67 billion merger between Florida-based NextEra Energy and Dominion Energy could reshape the utility landscape in Virginia and affect what customers pay on their power bills.

NextEra Energy has agreed to acquire Dominion Energy in a deal that would create the largest regulated utility company in the country. The merger would require state approval before it could move forward.

Dominion Energy says the merger will put more money in customers’ pockets. The company has promised to distribute more than $2 billion to customers within two years after the merger is complete, with 80% of that money going to customers in Virginia.

Dominion Energy describes the deal as a move focused on “growth, scale, and affordability.” A spokesperson for the company said the merger would “strengthen our ability to meet this historic demand.”

Virginia Tech public policy professor David Bieri said that demand is being driven by data centers. Bieri said, “Part of the reason why the acquisition is happening is because it gives NextEra access to the honey pot or profit areas.”

Dominion Energy serves much of Southside Virginia, including the Halifax, South Boston, Chatham and Gretna areas, and also covers parts of Concord, Appomattox, Altavista and Lexington.

Sen. Mark Peake, R-District 8, represents some of those areas in the Virginia Senate. ABC13 asked whether he believes the merger will be good for his constituents.

Peake said, “Well, I hope I will say the one thing that I’ve heard is that my understanding is that there will be a rebate to Dominion customers, which should be an amount equal to offset the RGGI charges that the Spanberger administration has hit Dominion, well, all customers with.”

But Peake also said he is not happy that NextEra is an outside state company and wants to keep power company’s operating locally.

SEE ALSO: Local leaders approve $100B AI data campus in Pittsylvania County amid citizen concerns

While Dominion Energy said, “The merger won’t impact how we operate in Virginia or how we serve our customers. We’ll continue operating as Dominion Energy Virginia, and our customers will continue receiving the same service, from the same team, in the same way they always have. We’ll remain headquartered in Richmond with the same utility leadership. So lots of continuity.”

Before any merger benefits could reach customers, the deal would need approval from regulators, including Virginia’s State Corporation Commission and the Federal Energy Regulatory Commission.

Delegate Madison Whittle, who represents parts of Pittsylvania County and Halifax County, said, “There are already projections that ‘rates will go down’ and that ‘rates will go up.’ I do not think there is enough public information at this point to determine either. While the companies have suggested a $2.25 Billion package of ‘bill credits’ spread over 2 years among Virginia, North Carolina, and South Carolina, regulators must look at total overall cost to customers. For us, it will be important to look to the Virginia State Corporation Commission. The State Corporation Commission (SCC) will continue to regulate Dominion Energy’s rates, infrastructure, and operations in the state if it combines with NextEra. State utility regulation remains mandatory, and the SCC must approve the merger itself before it can be finalized.”

Bieri cautioned that the merger is not guaranteed. “This is the intent to merge that is very important, it is not a done deal because the most important thing is that this deal needs to be approved by a variety of federal and state regulators,” he said. Bieri added, “The government can say ‘no,’ as is often the case for a variety of anti-trust and other reasons.”

VIRGINIA – Drivers nationwide are still feeling the pain at the pump as gas prices continue to fluctuate. 10 News is working for you to break down what drivers can expect across the region.

As of Tuesday, May 19, the AAA states that the average price for regular gasoline in Virginia is $4.310 per gallon. Premium is averaging $5.140 per gallon, while diesel sits at $5.546.

In our region, some of the highest gas prices are in Botetourt, Highland and Nelson counties, where drivers are paying $4.32, $4.49, and $4.403 per gallon for regular gas, respectively.

Closer to home, average gas prices have increased by 5.6 cents per gallon in Roanoke over the last week, to $4.22 per gallon, according to GasBuddy’s survey of 155 stations in Roanoke. That’s 39.5 cents per gallon higher than a month ago and $1.33 higher than a year ago. GasBuddy price reports show that the cheapest station in Roanoke was at $3.93 per gallon on Sunday, while the most expensive was at $4.39 per gallon.

Across the state, the lowest price was $3.82 per gallon while the highest was $5.89 per gallon.

“The national average price of gasoline spent much of last week drifting lower after jumping early in the week as oil prices softened on hopes that diplomatic progress between the U.S. and Iran could help ease supply concerns,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

He continued, “However, that optimism faded after President Trump’s meeting with China’s Xi Jinping failed to produce a breakthrough on Iran, while renewed warnings toward Tehran have helped push oil prices higher again. With global oil inventories continuing to trend toward historically tight levels, markets remain extremely sensitive to geopolitical developments and potential supply disruptions. As a result, gasoline and diesel prices are likely to remain volatile, and with Memorial Day approaching, any sustained increase in oil prices could begin pushing retail fuel prices higher again in the weeks ahead.”

However, there are still some deals throughout Virginia to keep on your radar.

According to GasBuddy:

• In Roanoke, Sam’s Club on Towne Square Boulevard and BJ’s on Hershberger Road continue to have some of the lowest prices in the area. Both have regular gas for $3.97 per gallon. BJ’s has premium for $4.32 and diesel for $5.24, whereas Sam’s Club has premium for $4.34. GasBuddy is also showing that the Kroger and Exxon on Hardy Road both have regular gas for $3.99. Exxon has premium and diesel gas for $5.46, and Kroger has it for $4.59 and $5.19.

• Going further south, you can find regular gas at Sam’s Club at 215 Piedmont Pl in Danville for $3.87 per gallon and premium and diesel for $4.69 and $4.98, respectively, according to GasBuddy.

• In the Lynchburg area, some of the lowest gas prices can be found at Sam’s Club on Wards Road, where regular is $4.01 per gallon, premium is $4.77, and diesel is $4.89. Another place to save is at the Sheetz on Wards Road, where regular gas is $4.04 per gallon.

Count on 10 News to bring you the latest price at the pump every morning.

To find out where the lowest fuel prices are near you, visit GasBuddy’s website.

Since the U.S. and Israel launched a joint war against Iran on Feb. 28, the cost of crude oil, the main ingredient in gasoline, has spiked and swung rapidly. That’s because the conflict has caused deep supply chain disruptions and cuts from major oil producers across the Middle East.