| In case you missed it, recent reporting revealed that career politician Congressman Rob Wittman “stands to benefit” from electricity rate hikes.
The American Journal News reports that Wittman owns “up to $15,000 in NextEra Energy stock, the world’s largest electric utility holding company.” The revelation that Wittman may profit off of utility hikes comes as Virginians continue to struggle with rising electricity bills.
This isn’t the first time that Wittman’s stock trading and financial holdings have drawn scrutiny. Business Insider previously reported that Wittman traded stock in defense companies while sitting on the House Armed Services Committee, and Politico reported Wittman purchased stock in Pharma company AbbVie during the pandemic.
Read key details from AJN below:
American Journal News: Rob Wittman invested in utility company behind historic rate hike
By Jesse Valentine | 12/23/25
- Virginia Rep. Rob Wittman stands to benefit financially from a utility rate hike that threatens to push already cash-strapped Americans deeper into financial hardship.
- Public financial disclosures show Wittman owning up to $15,000 in NextEra Energy stock, the world’s largest electric utility holding company. The company, which operates in the United States and Canada, reported revenues of $24.8 billion last year.
- Last month, NextEra Energy approved a plan to let Florida Power & Light (FPL), one of its subsidiaries, collect $6.9 billion more from customers over the next four years. Advocates told the Florida Phoenix this amounts to the largest utility rate hike in history.
- Wittman’s financial entanglement may explain why he told Politico that the growing number of data centers are to blame for rising energy costs. While it’s true that data centers and the power needed to run them have contributed to the crisis, they are not the only factors. Experts say the spike has been mostly driven by utility companies seeking bigger profits, extreme weather due to climate change, and the Trump administration canceling $53.05 billion in clean energy investments.
- Wittman’s data center analysis is further undercut by the fact that he supported the One Big Beautiful Bill Act, which accelerated the construction of data centers nationwide.
- Wittman is also seeking another term in 2026. Virginia swung toward Democrats in this year’s gubernatorial and state legislature elections. Affordability and cost-of-living were central issues in the race.
- An analysis by the progressive group Climate Power found that electric bills across the country have increased by 13% since President Donald Trump returned to the White House. Prices are expected to keep climbing next year.
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