Nearly eight years after Eversource decided to dive into the water business, the utility is getting out of it entirely with a deal to sell its Aquarion Water Co. division to a newly created quasi-public authority in Connecticut.

Eversource Energy is selling its Aquarion Water Company to the Aquarion Water Authority (AWA), a quasi-public corporation in the state of Connecticut, for $2.4 billion. The deal, subject to certain closing adjustments,

Eversource announced on Monday that they sold Aquarion Water Company, according to a press release. Aquarion has been acquired by Aquarion Water Authority (AWA), a quasi-public corporation and a standalone authority alongside the South Central Connecticut Regional Water Authority (RWA).