Virginia Representative’s Financial Ties to Utility Rate Hike Under Scrutiny
In recent developments, Virginia Representative Rob Wittman is facing criticism due to potential financial benefits he might gain from a significant utility rate increase. This rate hike is poised to exacerbate financial challenges for many Americans.
According to public financial records, Wittman holds investments of up to $15,000 in NextEra Energy stock. NextEra Energy, recognized as the largest electric utility holding company worldwide, recorded revenues of $24.8 billion last year.
Recently, the company approved a controversial plan allowing its subsidiary, Florida Power & Light (FPL), to raise $6.9 billion from customers over the next four years. As reported by the Florida Phoenix, this decision marks the largest utility rate increase in history.
Brooke Ward, an organizer for Food & Water Watch, commented, “People are not asking for diamonds or gold. While greedy utilities keep raking in record profits, regular Floridians want to be able to afford running their air conditioners and heaters.”
Wittman’s public statements have drawn attention, especially after he attributed the rise in energy costs to the increasing number of data centers, as detailed in an interview with Politico. While data centers are indeed a factor, experts suggest that the primary causes of rising costs include utility companies seeking larger profits, extreme weather events due to climate change, and the Trump administration’s cancellation of $53.05 billion in clean energy projects.
Senator Tim Kaine emphasized last month, “The U.S. was producing more energy than any country in the world, but on President Trump’s first day in office, he declared an ‘energy emergency’ to cancel clean energy projects across the country, including in Virginia. Now, Americans are paying the price.”
Wittman’s stance is further questioned due to his support for the One Big Beautiful Bill Act, which facilitated the rapid construction of data centers nationwide.
Political contributions from NextEra Energy and its super PAC have been made to both parties, but more than 65% of donations between 2014 and 2024 went to the GOP.
Several Florida Republican Representatives, including Laurel Lee, Maria Elvira-Salazar, and Cory Mills, have received significant contributions from the NextEra Energy PAC. They are likely to face inquiries regarding FPL’s rate increase during their reelection campaigns next year.
Wittman, who is also seeking reelection in 2026, will contend with a shifting political landscape in Virginia, where Democrats made gains in recent gubernatorial and state legislature elections. Central campaign issues included affordability and the cost of living.
An analysis by the progressive group Climate Power highlighted a 13% increase in electric bills nationwide since President Donald Trump’s return to office. Projections indicate that prices will continue to rise next year.
Jesse Lee, an adviser for Climate Power, noted, “The truth is, Trump and Republicans are making life more expensive by taking energy options off the grid while demand skyrockets. We’re going to make sure that every Republican who rubber-stamps Trump’s anti-energy agenda pays the political price in 2026.”
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