The two major investor-owned utilities targeting Pennsylvania are:

 

Aqua PA, a subsidiary of Essential Utilities, headquartered in Bryn Marr, PA

 

Pennsylvania American Water, a subsidiary of American Water, headquartered in Camden NJ.

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Both are very active in Pennsylvania acquiring municipal water and sewer systems. 

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Since Act 12 passed these two companies have spent almost $900 million acquiring 19 municipal systems.  There are another six in progress totaling almost $675 million.  (this is as of March-2024)