Christie Thankful For Recent Denial Of Proposed Aquarion Water Company Sale

WESTPORT, CT — Westport First Selectman Kevin Christie on Tuesday welcomed a decision by Connecticut utility regulators to reject a proposed $2.4 billion sale of Aquarion Water Company, a move he said reflects broad concerns about preserving oversight of the state’s public water resources.

The Connecticut Public Utilities Regulatory Authority, or PURA, voted Nov. 19 not to approve the plan, which would have transferred control of Aquarion and shifted regulatory and financial structures affecting dozens of communities. The proposal drew opposition from several municipalities, regional planning organizations, consumer advocates and environmental groups.

In addition to Christie, Connecticut Attorney General William Tong and leaders from Fairfield and other communities praised the decision.

Westport participated as an intervenor in the regulatory proceeding, along with Fairfield, New Canaan, Ridgefield, and the region’s MetroCOG and WestCOG planning agencies. Testimony during evidentiary hearings indicated the change in control could lead to higher water rates, reduced municipal tax payments and diminished regulatory oversight, Christie said.

"Water is a critical public asset, and maintaining local accountability, transparency, and stability in water management remains a top priority for our community," Christie wrote in a statement. "If the $2.4 billion sale had been approved, PURA would have lost its authority to regulate water rates. The proposed structure would also have replaced traditional property taxes with payments-in-lieu-of-taxes and granted the Regional Water Authority a controlling majority of seats on the Aquarion Water Authority board of directors. Throughout the review process, Westport emphasized the importance of ensuring that any ownership or structural changes to Aquarion would safeguard service reliability, infrastructure investment, rate stability, and long-term watershed protection."

Christie added, "We appreciate PURA’s thorough evaluation of the proposed transaction and its commitment to ensuring that decisions about Westport’s water utilities serve the public interest. As a result of this favorable ruling, residents and ratepayers can be assured that the Town of Westport will continue to work collaboratively with Aquarion and state regulators to ensure that residents receive high-quality, dependable water service."