The $2.4 billion water company subsidiary sale was rejected, causing Eversource Energy (ES.US) stock price to plummet over 12%.

According to the Zhixin Finance APP, one of the largest utility providers in the northeast United States, Eversource Energy (ES.US), fell more than 12% on Wednesday. Prior to this, the Connecticut Public Utilities Regulatory Authority voted to reject the company's proposal to sell its subsidiary Aquarion Water for $2.4 billion to a newly established quasi-public entity.