Eversource Nears Aquarion Sale Approval as PURA Issues Proposed Decision
Event summary
- Connecticut PURA issued a proposed final decision to approve the sale of Aquarion Water Company to the South Central Connecticut Regional Water Authority.
- Eversource's 2026 guidance does not include the Aquarion sale, with earnings projected at $4.80–$4.95 per share.
- PURA's final decision is scheduled for March 25, 2026, with the transaction potentially closing later.
- Eversource has already taken steps to ensure stability, including issuing Junior Subordinated Notes and a $600 million debt issuance in October 2025.
The big picture
The proposed approval of Aquarion's sale marks a critical juncture for Eversource, as it navigates regulatory hurdles and financial planning. The utility's proactive measures—including debt issuance and rate case filings—highlight the strategic importance of maintaining operational stability amid potential portfolio shifts. This development reflects broader trends in the regulated utility sector, where asset divestitures and financial agility are increasingly prioritized to adapt to evolving market and regulatory landscapes.
What we're watching
- Regulatory Timing
- Whether PURA's final decision on March 25, 2026, will lead to a swift transaction close or further delays.
- Financial Flexibility
- How Eversource's preemptive financial moves will support stability if the Aquarion sale falls through.
- Strategic Repositioning
- The pace at which Eversource pivots its long-term strategy if Aquarion is no longer part of its portfolio.
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