Connecticut Regulators Give Final Endorsement To $2.4B Aquarion Sale To New Water Authority

CONNECTICUT — The Connecticut Public Utilities Regulatory Authority on Tuesday rendered a final approval to the $2.4 billion sale of Aquarion Water Co. from Eversource Energy to the nonprofit Aquarion Water Authority, reversing a previous denial and clearing the way for a new quasi-public utility.

The vote was 3-0. The transaction affects more than 236,000 customers.

The buyer is the Aquarion Water Authority, a new nonprofit entity affiliated with the South Central Connecticut Regional Water Authority in New Haven. Under the sale terms, the transaction is valued at $2.4 billion, including $1.6 billion in cash and $800 million in debt.

The sale moves Aquarion from private ownership to the quasi-public setup.

The approval follows a January court remand of PURA's November 2025 denial of the transaction. With the new ruling, the sale can now close later in 2026.

The change also shifts how Aquarion's operations will be overseen. Instead of state regulatory staff overseeing operations in the same way, the utility will be managed by a board appointed by the 59 municipalities it serves. That board structure is tied to the new authority's affiliation with the Regional Water Authority.

As he has with most utility matters these days, the decision was followed by a barrage of criticism from Connecticut Attorney General William Tong.

See PURA's decision here.

Tong released the following statement:

"The Public Utilities Regulatory Authority ignored widespread opposition and approved the sale of Eversource-owned Aquarion Company to a new nonprofit that is projected to double household bills and will gut public oversight of water utility rates and consumer protections.

"PURA initially denied the transaction on November 19. Aquarion appealed, and the court remanded the matter back to PURA for reconsideration. Attorney General Tong personally argued against the deal before PURA, alongside the Office of Consumer Counsel and representatives for the towns in Aquarion’s service territory, who were united in opposition to the deal. None of the underlying facts changed between November 19 and now—this was and is a bad deal for Connecticut.

"This is a $6 billion gift to Eversource, to be paid by Connecticut families and towns over the next 40 years. Literally no one wanted this deal except for the utility executives looking to cash out. The economics of this deal made zero sense. It’s a costly loser wrapped in a bunch of fuzzy math and empty promises. PURA had every ounce of authority and every reason to reject this deal, but they simply caved.

"The utilities spent a ton of money on expensive lawyers and lobbyists to run their chief regulator out of town. Today, Eversource got exactly what they paid for. For those who have spent the past year doing the utilities bidding and fixating on gossip and interpersonal drama, it’s going to be on you to explain to Connecticut families why they can’t afford water anymore."

Aquarion Water Company serves a wide range of communities across Connecticut, including Ansonia, Beacon Falls, Bethel, Bridgeport, Brookfield, Burlington, Canaan, Cornwall, Danbury, Darien, Derby (East Derby), East Granby, East Hampton, Easton, Fairfield, Farmington, Goshen, Granby, Greenwich, Groton, Harwinton, Kent, Lebanon, Litchfield, Mansfield, Marlborough, Middlebury, Monroe, New Canaan, New Fairfield, New Hartford, New Milford, Newtown, Norfolk, North Canaan, Norwalk, Norwich, Oxford, Plainville, Redding, Ridgefield, Salisbury, Seymour, Shelton, Sherman, Simsbury, Southbury, Southington, Stamford, Stonington, Stratford, Suffield, Torrington, Trumbull, Washington, Weston, Westport, Wilton, Wolcott and Woodbury.

Service coverage varies within each municipality, meaning not all properties in these towns are necessarily connected to the Aquarion system.