Today’s guest, Bluefield Analyst Megan Bondar, joins host Reese Tisdale to unpack the growing role of investor-owned utilities (IOUs) in the U.S. water sector. From calculating market share to tracking M&A activity and geographic expansion, Megan brings fresh insights into how IOUs are positioning themselves in a fragmented market of 49,000 drinking water and 18,000 wastewater systems.
Though IOUs currently serve only about 5% of the U.S. population, their influence is expanding—through acquisitions, capital investments, and shifting ownership strategies. This episode also explores how consolidation is playing out in different forms, including municipal-to-municipal deals and the rise of quasi-public entities.
This episode answers key questions:
- Who are the IOUs in the U.S., and what’s their footprint?
- How are IOUs reshaping the water market through M&A?
- What are the capital strategies behind IOU growth?
- What role is private equity playing in this sector?
- How are regional realignments and exits redefining competition?
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Related Research & Analysis:
- Investor-Owned Utilities in Water: Market Share, Trends, and Company Rankings
- Nexus’s Utility Sell-Off Goes to American Water
- Unitil Carves Out Water Presence via Aquarion Platform
Companies Mentioned
American WaterAqua AmericaAquarion Water CompanyBoston Water and Sewer CommissionCalifornia Water ServiceCentral States Water ResourcesConnecticut Water ServiceConstellation EnergyCorix / Nexus Water GroupCVC DIFEJ Water CooperativeEPCOREssential UtilitiesEversource EnergyFPLH2O AmericaHorizon Climate InitiativeJW Water HoldingsMicrosoftNextEraNexus Water GroupNW NaturalRobson CommunitiesSciens Capital ManagementSciens WaterSUEZUnitil CorporationVeoliaVeolia North AmericaVistra
The Future of Water
The Future of Water podcast series is where Bluefield water experts talk about all the ways in which companies, utilities, and people are addressing the challenges and opportunities in water. Thank you for listening. Refer your colleagues. Please give us a review on Apple Podcasts, YouTube Music, and Spotify.
