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September 16, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Eversource completes $1.7B acquisition of Aquarion Water

Eversource Energy has completed its $1.7 billion acquisition of Bridgeport’s Aquarion Water Co., which the company says makes it the only U.S.-based electric utility to also own a water utility.

Aquarion will remain a locally owned company and will contribute nearly 230,000 water customers to a total customer base of nearly 4 million electric, natural gas and water customers combined in Connecticut, Massachusetts and New Hampshire, Eversource said.

Connecticut regulators approved the purchase in late October. Massachusetts’ Public Utilities Regulatory Authority has now given its consent as well, according to Jim Judge, CEO at Eversource, which is headquartered in Hartford and Boston.