Eversource just sold Aquarion for $2.4billion and nobody is talking about it

Eversource has a monopoly on the Connecticut utilities industry, the only thing stopping them from jacking up rates indefinitely is PURA, a CT regulatory agency. PURA has had a turbulent couple of months with their chair stepping down last October.

PURA first stopped the sale of Aquarion in November, but Eversource appealed. Here is an excerpt from an article:

“Connecticut Attorney General William Tong, who fought Eversource’s initial attempt to sell the water company, said this move is also bad news. He argued it will double customer rates.

Tong said PURA initially denied the transaction on Nov 19. Aquarion appealed and the court-remanded the matter back to PURA for reconsideration.

Tong said none of the facts in the case changed between Nov. 19 and Wednesday. He called it a bad deal for Connecticut.

“This is a $6 billion gift to Eversource, to be paid by Connecticut families and towns over the next 40 years,” Tong argued. “Literally no one wanted this deal except for the utility executives looking to cash out.”

Tong claimed the economics of the deal made no sense.”

Source: https://www.wfsb.com/2026/03/25/aquarion-become-nonprofit-move-officials-argue-will-double-water-rates/

To clarify, the sale price is $2.4 billion, but according to the attorney general with interest, the total amount is $6 billion.

Long story short through lobbying and good ol capitalism Eversource bullied PURA into caving and approving the sale, fucking over everybody who pays for electricity in the state of Connecticut. Bullish for Eversource.

Positions: 11 $75 calls expiring 7/17/26

(Added bonus that IV on these was 21% when i bought them making them very cheap 🤑)

Edit: reposting because i posted my acct # in the previous post like a retard