Eversource Energy announces sale of Aquarion Water Company
It will operate as a new water authority alongside the South Central Connecticut Regional Water Authority (RWA).
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Eversource Energy announced on Monday that it will sell Aquarion Water Company to the Aquarion Water Authority (AWA) for $2.4 billion.
The AWA is a quasi-public corporation and part of the State of Connecticut.
It will operate as a new water authority alongside the South Central Connecticut Regional Water Authority (RWA).
But the Connecticut Public Utilities Regulatory Authority (PURA) still needs to approve the deal.
As News 12 reported last August, customers and some local leaders are worried about rate hikes because RWA is not subject to the same regulation.
Before the deal gets regulatory approval, PURA will hold a round of public hearings. That process could take six months or more.
