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Executive overview
Key findings
US$873.3 million: total operating revenues in FY2025 (actual)
US$3.8 billion: total debt at June 30, 2025 (actual)
About US$1.4 billion: Board-approved capital spending cap for FY2024–FY2028
About US$2.1 billion: Metropolitan Water Tunnel Program estimate (planned; final cost "not yet defined")
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Buyer relevance
Who the report is for
Business development teams new to the MWRA account
Get MWRA's scale, finances, rates and project list on a few pages, including the FY2027 Final CIP of US$322.1 million.
Analysts covering New England water and wastewater
Use the FY2016, FY2024 and FY2025 revenue, expense and coverage figures and the three senior ratings side by side.
Consultants preparing proposals
Check asset facts such as the Carroll plant's 405 mgd maximum daily design capacity and the 2018 sewer age profile before writing.
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Decision scope
Questions answered
How big is MWRA?
It serves about 3 million people through 53 water and 43 sewer communities, with total operating revenues of US$873.3 million in FY2025.
What does MWRA charge?
The approved FY2027 wholesale water rate is US$5,092.06 per million gallons, and FY2027 assessments rose about 2.5%.
How much debt does MWRA carry?
Total debt was US$3.8 billion at June 30, 2025, and outstanding bonds were about US$4.0 billion against a US$6.45 billion limit at April 1, 2026.
What are its largest projects?
The Metropolitan Water Tunnel Program, estimated at about US$2.1 billion, and the Deer Island Clarifier Rehabilitation Phase II (US$298,197,238.72 after Change Order 4, July 2026).
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Inside the report
Inside the complete report
Executive Overview
Utility and Service Mandate
Water Resources and Supply
Infrastructure and Treatment
Networks and Assets
Wastewater and Resource Management
Financial Position
Investment and Major Projects
Tariffs and Customer Context
Energy and Sustainability
Governance and Regulation
Climate and Resilience
Forward Developments
Key Intelligence Summary
Source Register
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Public preview
What to watch next
Tariffs and Customer Context
The FY2028 proposed assessments.
Financial Position
The FY2028 budget proposal; rating commentary at the next bond sale.
Investment and Major Projects
FY2027 spending against plan; South Tunnel procurement.
Governance and Regulation
Gulliver's start date; the court ruling; the final permit.
Financial Position: revenues, expenses, coverage, budget, debt and ratings in two reference tables.
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Included
What you receive
The complete PDF report: 12 pages, 15 sections, 15 tables and a register of 18 sources.
This edition
November 2026, First edition.
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Evidence & method
Evidence and method
The profile draws on MWRA's FY2025 annual financial report, its 2026 bond Official Statement, rating agency reports, budgets and capital programs from FY2024 to FY2027, quarterly performance indicators, and board papers and votes to October 21, 2026.
Sources
18 sources, listed in the report's source register. Evidence current to 9 November 2026. Principal data periods: FY2025 audited results (year ended June 30, 2025); FY2026 budget, performance and capital outturn; FY2027 adopted budget and assessments; board decisions to October 21, 2026; status checked to November 9, 2026. All currency is US dollars..
Evidence boundaries
This report uses authoritative source material available at the stated research cutoff. It distinguishes published facts, calculated values and analytical interpretation. No independent modelling is performed. Forward-looking analysis reflects published plans, documented trends and stated uncertainties. It does not constitute legal, financial, investment or engineering advice.
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Lead analyst
Robert C. Brears
Founder, Our Future Water Intelligence
Robert C. Brears is a water-security specialist and author whose work examines utility governance, infrastructure investment, climate resilience and long-term water-system change for executive and policy audiences.
- Decision-focused utility intelligence
- Published water-policy author
- Evidence-grounded system analysis
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Buyer FAQs
Before you purchase
Who can use the report?
Licensed for internal use within one purchasing organization. The PDF and its contents may be shared with colleagues within that organization. External redistribution, resale and public publication are prohibited without permission.
How is the report delivered?
The PDF is available to download immediately after confirmed payment, through our secure delivery system.
Can my organization buy wider access?
Institutional purchasing: For invoice enquiries, multi-organization licensing or broader access requirements, contact Our Future Water Intelligence.
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Utility Intelligence Profile: Massachusetts Water Resources Authority
- Format
- Length
- 12 pages
- Edition
- November 2026, First edition
- Price
- USD 99
11
Report details
Publication details
- Publisher
- Our Future Water Intelligence
- Report family
- Utility Intelligence Profile
- Edition
- November 2026, First edition
- Format
- Length
- 12 pages
- Reference
- OFW_EXT_MASSACHUSETTS_WATER_RESOURCES_AUTHORITY_UTILITY_INTELLIGENCE_PROFILE_d88218d55449
- Evidence current to
- 9 November 2026
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