The York Water Company
York Water Co. is a Pennsylvania-regulated water and wastewater utility that has operated continuously since 1816. It impounds, treats, and distributes drinking water through its own network and also owns wastewater collection and treatment systems within a franchised service territory in south-central Pennsylvania.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueRetail potable water service delivered through the company's owned distribution and supply system.
Water service sold to non-residential customers within the franchised territory.
Fire service, wastewater-related income, and other utility service charges.
Customers
York Water serves a mix of residential, commercial, and industrial customers within its franchised Pennsylvania territory. It also provides services to municipalities through billing and collection arrangements, and it can supply bulk water or service-line protection programs where offered.
Households buying regulated water service for everyday use; the largest revenue base and a key driver of consumption.
Businesses and industrial facilities buying water service for operations, fire protection, and utility needs.
Municipalities outsourcing billing and collections to the company to improve administrative efficiency.
Customers connected to the company's wastewater collection and treatment systems.
Customers paying a fixed fee for repair or replacement coverage on damaged service lines.
Strategy
The company focuses on growing its customer base and distribution footprint through acquisitions, organic expansion, and infrastructure investment. It also seeks timely rate relief, uses regulated charges such as DSIC to recover qualified infrastructure replacement costs, and adds complementary services like billing and collection to diversify revenue.
More customers and connections increase recurring utility revenue and spread fixed costs over a larger base.
Timely rate relief and DSIC help fund replacement and expansion while preserving regulated returns.
Municipal billing, collection, and service-line programs add fee-based revenue streams.
Reservoirs, wells, and interconnections support service reliability and future growth.
Geography
York Water operates entirely within a franchised territory in south-central Pennsylvania, covering portions of 58 municipalities across four counties. Its core water sources, reservoirs, wells, and treatment assets are concentrated in York, Adams, Franklin, and Lancaster counties, so local weather, population growth, and regulation directly affect operations.
Risks
York Water is exposed to weather-driven demand swings, drought restrictions, and the regulatory process that governs rates, service territory, and capital recovery. As a single-region regulated utility, it also faces local population, infrastructure, financing, and cybersecurity risks that can affect service reliability and earnings stability.
Water usage rises in hot, dry periods and falls when precipitation is normal or restrictions are imposed.
Exposure: Summer residential and outdoor-use demand
Revenue growth depends on timely approval of rate increases and recovery of infrastructure costs.
Exposure: Pennsylvania Public Utility Commission oversight
Water and wastewater systems require ongoing replacement and expansion to maintain service quality.
Operations are concentrated in one regional service territory, limiting diversification across markets.
Exposure: South-central Pennsylvania
Utility assets and operating systems can be targeted or disrupted, affecting continuity of service.
Exposure: Water and wastewater facilities
Accounting
Judgemental itemsCosts approved for future recovery are deferred rather than expensed immediately, affecting earnings timing.
Impact: Utility rate recovery and balance sheet presentation
Water bills and infrastructure surcharges are recognized as services are delivered or charges are applied.
Impact: Operating revenue and quarterly comparability
Actuarial assumptions and plan performance can change expense and liabilities.
Impact: Operating expenses and other comprehensive income
Accelerated tax depreciation creates book-tax timing differences that build deferred taxes.
Impact: Tax expense and balance sheet liabilities
Fair value changes on the swap can affect reported earnings and other comprehensive income.
Impact: Non-operating income and risk management disclosures
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Last updated: 29/04/2026