Aquarion to seek 42% rate increase after regulators block sale

Aquarion to seek 42% rate increase after regulators block sale

Connecticut’s largest water company, Aquarion, announced its intention to seek a 42% rate increase on Monday after state regulators last month blocked a deal that would have transformed the company into a nonprofit quasi-public entity. The proposed rate hike, worth $88 million annually, would be first in more than a decade for the company, which serves roughly 209,000 homes and businesses in Connecticut. It comes on the heels of last month’s dec…