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Oct. 14, 2024
Focus section

For CT manufacturers, robots, automation technology seen as crucial to addressing labor shortage

Harriet Jones

When Jeffrey Davis took the reins at New London’s historic Sheffield Pharmaceuticals in 2016, he knew there was one big problem he needed to solve.

Today's Poll

Do you think the sale of Aquarion to a nonprofit, public entity will lower costs for consumers?
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Eversource-owned Aquarion Water Co., which supplies water to 59 Connecticut municipalities, is set to be acquired by a nonprofit, quasi-public entity that will share resources with the South Central Regional Water Authority (RWA) in New Haven.

The $2.4 billion deal is expected to close by the end of 2025, pending approval from the Public Utilities Regulatory Authority.

The new owner, Aquarion Water Authority, will share executive leadership with the RWA, but will operate as a separate entity.

Critics say the acquisition is a leveraged buyout that could lead to rate increases and lost tax revenue for municipalities in which Aquarion currently pays property taxes.

However, an RWA executive says the not-for-profit model will enable AWA to access tax-exempt debt, mitigating the costs of capital expenditures and rate increases.

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