Eversource is selling its subsidiary that provides water to five Massachusetts towns to a newly created quasi-public water authority in Connecticut.
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Eversource has announced a final agreement to sell Aquarion Water Company for approximately $2.4 billion. The company is being sold to Aquarion Water Authority and South-Central Connecticut Regional Water Authority.
Connecticut is "going on the offensive" according to Attorney General William Tong, planning to sue the Trump Administration to stop a memorandum issued late Monday night that would halt federal funds to states.
Officials of the New Haven-based Regional Water Authority say their planned multi-billion deal to acquire Aquarion Water won't impact customer rates.
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The sale, which is valued at approximately $2.4 billion, includes $1.6 billion in cash and $800 million in net debt to be extinguished at closing. The total value represents 1.7 times the rate base as of December 2024.
Eversource Energy is selling its Aquarion Water Company to the Aquarion Water Authority (AWA), a quasi-public corporation in the state of Connecticut, for $2.4 billion. The deal, subject to certain closing adjustments,
Officials must confront at least one obstacle they cannot change: CT’s location within one of the nation’s most expensive electric markets.