Essential Utilities
| Company type | Public |
|---|---|
| Industry | Water and Natural Gas Utilities |
| Founded | January 4, 1886 |
| Headquarters | Bryn Mawr, Pennsylvania, United States |
Key people | Christopher H. Franklin, CEO Daniel J. Schuller, CFO Colleen Arnold, President, Aqua Michael Huwar, President, Peoples Christopher Luning, General Counsel |
| Revenue |  US$1,878M (2021) |
| US$431M (2021) | |
| Total assets | US$14.66B (2021) |
| Total equity | US$5.18B (2021) |
Number of employees | 3,211 |
| Website | www |
Essential Utilities—previously known as Aqua America and Peoples Natural Gas—is a publicly listed American utility firm (ticker symbol $WTRG) operating in Illinois, Indiana, Kentucky, New Jersey, North Carolina, Ohio, Pennsylvania, Texas, and Virginia. The company delivers services including potable water supply, wastewater management infrastructure, and natural gas distribution. Essential Utilities functions as the parent entity for Aqua America and Peoples Natural Gas, both of which continue to operate under their established brand names.
The corporate headquarters is situated in Bryn Mawr, Pennsylvania, where the company oversees its water utility operations. Meanwhile, its natural gas division, Peoples Natural Gas, is headquartered in Pittsburgh, Pennsylvania.
History
The company originated on January 4, 1886, initially named the Springfield Water Company. By 1925, it had transformed into the Philadelphia Suburban Water Company (PSW), servicing 58 municipalities.
Officially incorporated in 1989, the firm has grown through targeted acquisitions aimed at strengthening its position within the water and natural gas sectors. Since 2015, Christopher H. Franklin has held the role of CEO and has spearheaded initiatives such as the late-2014 pledge to convert its Pennsylvania vehicle fleet to compressed natural gas (CNG) within five years—highlighting a strategic emphasis on sustainable growth and operational efficiency.
Acquisitions
In the United States, a significant portion of water utilities remain under municipal ownership; as of 2006, there were approximately 55,000 distinct systems. Nonetheless, companies adopting privatization strategies capitalize on economies of scale to boost profitability. Concurrently, financially constrained local governments often divest assets to improve fiscal health.
Between 1993 and 2013, Aqua America executed around 300 acquisitions by acquiring smaller private utilities across twelve states while expanding its footprint toward southern regions. These transactions constitute a fundamental component of Aqua America's growth strategy.
Key acquisitions include municipal water assets in West Chester, Pennsylvania (1998), alongside major private companies such as AquaSource (2003), Heater and Florida Water Services (2004), and New York Water Service Corporation (2007).
In October 2018, Aqua America diversified into the natural gas sector by acquiring Peoples Natural Gas based in Pittsburgh for $4.27 billion. This move marked its entry into the gas utility market and enhanced its competitive presence within Pittsburgh’s utility industry.
Subsidiaries
Aqua Pennsylvania, the company's principal water subsidiary, has been integrated into Aqua America since 1996. It accounts for slightly more than half of the operating revenue reported in 2007 and provides services to half of the entire customer base, mainly located in the urban and suburban regions surrounding Philadelphia.