Connecticut Water Service Inc. (CTWS) announced that it agreed to buy up to 1 million gallons of water a day from the South Central Connecticut Regional Water Authority.
Financial details of the agreement were not disclosed. Connecticut Water said that it would have cost much more to develop access and obtain the permits to tap an additional 1 million gallons of water per day for customers in Guilford.
The agreement lasts for 50 years, and can be renewed in 20-year blocks thereafter. Connecticut Water shares rose 27 cents to $25.63 in afternoon trading on the New York Stock Exchange.
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