On November 17, 2025, Aqua Indiana, a subsidiary of Essential Utilities, broke ground on a $28 million expansion of its Midwest Wastewater Treatment Plant in Fort Wayne, Indiana. The project is the largest capital improvement in the company’s history and will increase the plant’s treatment capacity by nearly 30 % to 4.5 million gallons per day, enabling the system to meet growing regional demand while reducing sanitary sewer overflows, improving odor control, and enhancing sludge treatment to protect local waterways.
The expansion comes at a time when Essential Utilities has just reported a strong Q3 2025 earnings beat. The company posted earnings per share of $0.33 versus consensus of $0.29, and revenue of $477 million, up 9.6 % year‑over‑year. Management attributed the upside to disciplined cost management and a favorable mix of service demand, which provides the financial flexibility to invest in projects like the Fort Wayne upgrade. The $28 million project is part of a $7.8 billion infrastructure plan through 2029, underscoring the company’s commitment to modernizing aging assets and supporting long‑term rate‑base growth.
Strategically, the expansion is being undertaken while Essential Utilities is in the final stages of its merger with American Water Works, a deal expected to close by the first quarter of 2027. Executives have emphasized that the Fort Wayne project demonstrates the company’s continued operational focus and its ability to deliver value to customers even as it navigates a major transaction. The expansion also positions the combined entity to better serve a broader customer base across nine states and 5.5 million people.
Regulatory compliance is a key driver for the project. By expanding capacity and improving treatment processes, Aqua Indiana will meet the latest state and federal water quality standards and reduce the likelihood of future regulatory penalties. While the project is expected to enhance service reliability, the company has indicated that it does not anticipate an immediate impact on customer rates, though it will be considered in upcoming rate‑case filings.
Aqua Indiana President Sadzi Oliva said the expansion “will ensure reliable service for our customers and protect the health of local waterways.” Essential Utilities Chairman and CEO Christopher Franklin added that the investment “reinforces our long‑term commitment to infrastructure modernization and positions us for continued growth in a regulated environment.”
Analysts view the expansion as a positive signal of Essential Utilities’ disciplined investment strategy. The project aligns with the company’s earnings trajectory and supports its long‑term growth targets, reinforcing confidence in its ability to balance capital spending with shareholder returns.
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