A controversial multi-billion-dollar water sale is back before Connecticut’s top energy regulators. The issue is whether Eversource can sell Aquarion, which supplies water to hundreds of thousands of people.
The Connecticut Public Utilities Regulatory Authority (PURA) rejected the deal in November. But they changed course last week and said they’d let Eversource sell Aquarion after a judge ordered them to reconsider. The sale would make the water company a quasi-public entity, could take it out from under regulatory purview and could lead to higher rates.
At a PURA hearing, State Attorney General William Tong criticized the commission for flip-flopping.
“A decision which this authority makes with serious misgivings is by definition not in the public interest," Tong said. "How can you say that something is good for ratepayers, it’s in our interest, if you have serious problems with it?”
He said it would be a breach of PURA’s duty—legally—to approve the deal, given their previous rejection.
“This is what you’re saying," he said. "We, PURA, swore an oath to protect ratepayers. We are really worried about this deal, and we have the full power and authority to stop it. But we are going to make you pay for it anyway.”
Attorney Dan Canavan represents Aquarion and the Regional Water Authority. He said regulators should approve the deal as-is.
“RWA and Aquarion are great companies," Canavan said. "They’ve provided safe and reliable service for decades, and they’ll continue to do so if the transaction is approved.”
PURA is set to make its final decision on March 25.
