Eversource Energy is seeking to sell Connecticut's largest water utility, Aquarion Water Co., for $2.4 billion to a newly created quasi-public nonprofit authority that would serve about 722,000 people across 62 municipalities.
Attorney General William Tong last week urged state regulators to reject the controversial deal, warning it could double household water bills and reduce consumer protections.
State lawmakers approved legislation creating a legal framework for the transaction during a special session in June 2024.
Supporters argue the nonprofit model would benefit customers through access to lower-cost financing. Eversource and Aquarion Water Authority dispute claims about significant rate increases.
The transaction, which is expected to close before the end of 2025, requires approval from the Public Utilities Regulatory Authority (PURA).
