Essential Utilities Commits to $1 Billion Infrastructure Upgrade

Essential Utilities

BRYN MAWR, PAEssential Utilities Inc. (NYSE: WTRG) has announced a substantial $1 billion capital improvement program for 2024. This move highlights the company’s ongoing efforts to modernize and sustain critical infrastructure.

Since 2020, Essential has invested over $4 billion in infrastructure upgrades. In 2023 alone, the company spent $1.2 billion on more than 7,000 projects, including the Valley Forge National Park Pipeline Replacement and the Western Hancock Wastewater Treatment Plant Expansion.

In 2024, Essential plans to boost its commitment by investing $1.3 billion, with an average annual investment of $1.4 billion through 2028. These efforts focus on modernization, compliance, and environmental safety across nine states.

“One of the greatest challenges facing the United States is the rehabilitation of our nation’s infrastructure,” said Christopher Franklin, chairman and CEO of Essential Utilities. “As a significant water, wastewater, and natural gas provider, Essential has a responsibility and opportunity to address this for future generations.”

Current projects aim to enhance service reliability, reduce pipeline failures, and meet evolving environmental standards. The company will invest $450 million in PFAS research and remediation, aligning with new EPA regulations.

Peoples, part of Essential’s portfolio, will continue its extensive pipeline replacement program, targeting 186 miles of new lines in 2024. Aqua, another division, plans to spend $765 million on capital improvements, including replacing 130 miles of water main.

These initiatives are designed to prevent water main breaks, address lead contamination, and manage emerging contaminants. Essential’s proactive approach aims to ensure safe, reliable services for its customers and communities.

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