Fairfield Leaders Sound Off On Aquarion Deal Approval

FAIRFIELD, CT — Fairfield leaders are not pleased after the Connecticut Public Utilities Regulatory Authority this week approved a $2.4 billion sale of Aquarion Water Company from Eversource to Aquarion Water Authority, a new nonprofit.

The deal includes $1.6 billion in cash and $800 million in debt, and will impact Aquarion's hundreds of thousands of customers in Fairfield and other Connecticut communities.

Aquarion Water Authority is being created by the South Central Regional Water Authority, known by the acronym RWA, and critics have said the deal will lead to higher water bills for customers.

PURA rejected the sale in November, but changed its stance this week.

"The decision made by PURA to approve the sale of Aquarion to RWA was not in the public interest," Fairfield First Selectperson Christine Vitale told Patch. "I am extremely disappointed that PURA reversed its previous decision. The sale of Aquarion to RWA will mean higher water rates for our residents and weakened consumer protections. As one the first towns to intervene in this poorly structured deal, we will examine all legal options to challenge this improper decision."

Click here to view PURA's decision.

"In reaching this decision and applying the governing statutes and relevant standards of review, the Authority finds that AWA is financially, technologically, and managerially suitable to acquire Aquarion, and that AWA and Aquarion can reasonably be expected to continue the provision of safe, adequate, and reliable service to customers," PURA's decision reads.

The decision could be appealed, but so far one has not been filed, CT Insider writes.

State Sen. Tony Hwang also disagrees with the decision.

“While I respect the role of PURA in this process, I do not support this approval, Hwang said. "The Authority itself acknowledged that this transaction sits on the 'knife’s edge' of what qualifies as being in the public interest. For the residents and municipalities I represent, that level of uncertainty is simply unacceptable.

"This deal raises serious concerns about long-term costs, governance, and accountability. Just as importantly, many of the communities impacted include significant watershed lands that require stewardship and protection. I am not convinced this structure safeguards those critical natural resources or prioritizes the interests of our towns."

Hwang said the state legislature needs to revisit Public Act 24-1, a bill he initially opposed, "to strengthen protections for ratepayers, ensure proper oversight, and defend the environmental assets that are vital to our region."