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Stock impact report

Aquarion merger a lousy deal for water customers in CT? Don't be so sure: Dan Haar [Yahoo! Finance]

Eversource Energy (D/B/A) (ES) 
Last eversource energy (d/b/a) earnings: 2/19 04:15 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Monthly bills would spike in future years for several reasons, the argument goes – chiefly, higher debt to pay for the $2.4 billion purchase ; and lack of oversight by state regulators who have beaten down rate hike requests from Aquarion, owned by Eversource Energy. A tsunami of elected and appointed officials from both parties, led most loudly by Attorney General William Tong, say the 700,000 Connecticut residents whose spigots flow Aquarion water would pay much more under the new ownership than they would if Aquarion Water Co. didn't change its structure. "Let's just cut the crap with this deal, it's terrible, it doesn't work," Tong, a Democrat, said in November, a position he has held firmly. "Go back to the drawing board and do better for the ratepayers and people of Connecticut." Republicans, many of whom disliked the deal from the outset, have sounded similar alarms as has a former Aquarion CEO . Even Gov. Ned Lamont signaled approval when regulators rejected the merger Show less Read more
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