The third day of the evidentiary hearing regarding Docket No. 25-04-03, focused on the proposed change of control of Aquarion by the Public Utilities Regulatory Authority (PURA) in Connecticut. Key discussions revolved around the governance structure of the newly formed Aquarion Water Authority (AWA) and the roles of its leadership.

During the meeting, it was clarified that the chair and vice chair of the Regional Water Authority (RWA) board will initially lead the AWA board, although the duration of their terms remains to be confirmed. The enabling legislation does not specify a time limit for the Chief Executive Officer (CEO) of RWA, who will also serve as the CEO of AWA. However, it was noted that a separate president will be appointed for each entity, with the AWA's president requiring ratification from the AWA Regional Planning Board (RPB).

The timeline of events was also discussed, highlighting that Eversource announced its plan to sell Aquarion in February 2024. The RWA expressed interest in submitting a bid at that time, but did not approach the legislature for enabling legislation during the regular session due to ongoing discussions about the structure of the acquisition. It was emphasized that without a special legislative session, the necessary enabling legislation would not have been created in time to meet the seller's deadlines.

Additionally, the Office of Consumer Affairs (OCA) was confirmed to have been involved in the process, providing a formal analysis under a protective order. The details of this analysis, including the standards used for evaluation, were acknowledged as being comprehensive.

The meeting underscored the complexities involved in the governance and operational transitions associated with the acquisition, as well as the regulatory framework guiding these changes. The next steps will likely involve further clarifications on leadership roles and the finalization of the acquisition process.