Essential Utilities
27 named things its latest annual report says its results depend on, each in the company's own words. 15 of them are also named by other companies we've read.
Suppliers
Interstate pipelines
depends onnamed as a riskIf we are unable to maintain access to a reliable and adequate natural gas supply or sufficient pipeline capacity to deliver that supply, we may be unable to meet our customers’ requirements, resulting in a loss of customers and an adverse effect on our financial conditions and results of operations.Risk factors (Item 1A)
Other companies
Aqua Pennsylvania, Inc.
concentrated in · approximately 57% of operating revenues and approximately 72% of income for our Regulated Water segmentOne of our largest operating subsidiaries, Aqua Pennsylvania, Inc., or Aqua Pennsylvania, accounted for approximately 57% of operating revenues and approximately 72% of income for our Regulated Water segment in 2025.Business (Item 1)
Competitors
Renewable energy (solar and wind)
competes withnamed as a riskCompetition from renewable energy sources may reduce the demand for natural gas, which could impact our future earnings and cash flows.Risk factors (Item 1A)
Places
Pennsylvania
concentrated in · $750,575 (30.3%) water; $1,049,834 (42.4%) gasnamed as a riskAlthough we operate water, wastewater, and natural gas utility infrastructure in a number of states, our operations are concentrated in Pennsylvania.Risk factors (Item 1A)
Also named by AWK, CNX, DTM, EQT, FE, GMED, NFG, PEG and 6 more
Marcellus Shale
depends on · Approximately 24% of the natural gas supplynamed as a riskApproximately 24% of the natural gas supply on the system is from locally produced gas, which we gather and transport into our distribution system.Business (Item 1)
Also named by AM, CHRD, CNX, EQT, EXE, MPLX, RRC, UGI and 1 more
Ohio
earns from · $142,970 (5.8%)During the year ended December 31, 2025, our operating revenues for our Regulated Water segment were derived principally from the following states: approximately 57% in Pennsylvania, 11% in Ohio, 9% in Illinois, 8% in Texas, and 7% in North Carolina.Business (Item 1)
Also named by AM, AR, BBSI, CINF, DRVN, ELV, FE, INTC and 6 more
Kentucky
earns from · $68,041 (2.8%)Our Peoples subsidiaries provide natural gas service to approximately 747,000 customers in western Pennsylvania and Kentucky.Business (Item 1)
Western Pennsylvania
concentrated in · Approximately 95% of the total number of natural gas utility customersApproximately 95% of the total number of natural gas utility customers we serve are in western Pennsylvania.Business (Item 1)
Hazards
Weather (heating season)
74%named as a riskIn 2025, this amounted to 74%, for the first and fourth quarters.Risk factors (Item 1A)
Also named by AAP, CLX, CPRT, DASH, DECK, ENB, GVA, LII and 4 more
PFAS contamination
over 300 sitesnamed as a riskTo date, the Company has identified over 300 sites requiring PFAS remediation.Business (Item 1)
Dam failure
approximately $54,000,000named as a riskThe Company has approximately $54,000,000 in capital improvements budgeted between 2026 and 2030 for dam improvements.Business (Item 1)
Commodities and inputs
Purchased water
depends on · Approximately 6.8%Approximately 6.8% of our water supplies are provided through water purchased from other water suppliers.Business (Item 1)
Also named by AWK
Natural gas
exposed to its pricenamed as a riskOur liquidity and, in certain circumstances, results of operations may be adversely affected by the cost of purchasing natural gas during periods in which natural gas prices are rising significantly.Risk factors (Item 1A)
Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more
Regulators
Federal Energy Regulatory Commission (FERC)
subject tonamed as a riskThe Federal Energy Regulatory Commission (FERC) regulates the transportation of the natural gas received from interstate sources, and any change in regulatory policies could increase our transportation costs or decrease our available pipeline capacity.Risk factors (Item 1A)
Also named by AA, AEE, AEP, AM, AMRC, AR, ARES, ATO and 62 more
Pipeline and Hazardous Materials Safety Administration (PHMSA)
subject tonamed as a riskTo the extent such rulemakings ultimately impose more stringent requirements on our facilities, we may be required to incur expenditures that may be material.Business (Item 1)
Also named by AM, ATO, BKH, CHRD, CNX, CP, CRC, CRGY and 29 more
Pennsylvania Public Utility Commission
subject tonamed as a riskAmong other closing conditions that remain, completion of the Merger is conditioned upon the receipt of such required consents, orders, and approvals from various governmental and regulatory entities and other third parties, including public utility commissions in certain states in which either or both companies operate, including without limitation the Pennsylvania Public Utility Commission.Risk factors (Item 1A)
Laws and programs
EPA PFAS National Primary Drinking Water Regulation
subject to · at least $450,000,000 of capital expendituresnamed as a riskThe Company performed its analysis of the NPDWR and estimated an investment of at least $450,000,000 of capital expenditures to install additional treatment facilities over the Compliance Period in order to comply (i.e., 2029 pending no delays due to lawsuits).Business (Item 1)
EPA Lead and Copper Rule Improvements
subject to · approximately $174,000,000 of capital expendituresnamed as a riskThe Company currently has budgeted approximately $174,000,000 of capital expenditures over the next five years for lead and galvanized service line replacement.Business (Item 1)
Internal Revenue Service repair tax deduction
subject to · $22,575,000named as a riskOur determination of what qualifies as a capital cost versus a tax deduction for utility asset improvements is subject to subsequent adjustment and may impact the income tax benefits that have been recognized.Risk factors (Item 1A)
Long-Term Infrastructure Improvement Plan (LTIIP)
subject to · approximately $3,000,000,000The third LTIIP targets 930 miles of pipeline replacement for a total capital investment of approximately $3,000,000,000.Business (Item 1)
CERCLA (Superfund)
subject tonamed as a riskThe potential liabilities to the Company, if any, resulting from this rule are currently being evaluated.Business (Item 1)
Also named by AA, AAOI, ALB, AN, APD, APLD, ATI, AWK and 27 more
Hart-Scott-Rodino Antitrust Improvements Act
subject tonamed as a riskThe Merger is also subject to review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and the expiration or earlier termination of the waiting period (and any extension of the waiting period) applicable to the Merger is a condition to closing the Merger.Risk factors (Item 1A)
Also named by AWK, BEN, BLK, CPRT, CTAS, FSK, KVUE, NXST and 2 more
Safe Drinking Water Act
subject tonamed as a riskProvision of water and wastewater services is subject to regulation under the federal Safe Drinking Water Act, the Clean Water Act, and related state laws, and under federal and state regulations issued under these laws.Business (Item 1)
Pennsylvania methane reduction framework
subject tonamed as a riskFor example, Pennsylvania has a methane reduction framework for the natural gas industry, which has resulted in permitting changes with the stated goal of reducing methane emissions from well sites, compressor stations, and pipelines.Risk factors (Item 1A)
Also named by NFG
Purchased Gas Adjustment
subject tonamed as a riskAny material disallowance of purchased gas costs would adversely affect our financial condition and results of operations.Risk factors (Item 1A)
Pennsylvania fair market value legislation
subject toIn April 2016, Pennsylvania enacted legislation allowing the public utility commission to utilize fair market value to set ratemaking rate base instead of the depreciated original cost of water or wastewater assets for certain qualifying municipal acquisitions.Business (Item 1)