Profile: Chesapeake Utilities Corp (CPK)
21 May 2019
Chesapeake Utilities Corporation (Chesapeake), incorporated on November 12, 1947, is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company, through its operating divisions and subsidiaries, is engaged in regulated and unregulated energy businesses. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services. The Regulated Energy segment includes the Company's natural gas distribution, natural gas transmission and electric distribution operations. The Unregulated Energy segment includes its propane distribution, propane and crude oil wholesale marketing, natural gas marketing and unregulated natural gas supply, gathering and processing, electricity and steam generation and other unregulated energy-related services to customers. The remainder of its operations is considered as Other businesses and eliminations, which include unregulated subsidiaries that own real estate leased to Chesapeake.
The Regulated Energy segment consists of natural gas distribution operations in Delaware, Maryland and Florida; electric distribution operation in Florida, and natural gas transmission operations on the Delmarva Peninsula and in Florida. Chesapeake's natural gas and electric distribution operations, which are local distribution utilities, generate revenues based on tariff rates approved by the public service commission (PSC) of each state. Eastern Shore Natural Gas Company (Eastern Shore), the Company's interstate natural gas transmission subsidiary, is subject to regulation by the Federal Energy Regulatory Commission (FERC). Peninsula Pipeline Company, Inc. (Peninsula Pipeline), the Company's Florida intrastate pipeline subsidiary that is subject to regulation by the Florida PSC, has contracts with customers, including certain affiliates.
Chesapeake's propane distribution operations sell propane to residential, commercial/industrial and wholesale customers in Delaware, Maryland, Virginia and southeastern Pennsylvania through Sharp Energy, Inc. and Sharpgas, Inc., and in Florida through Florida Public Utilities Company (FPU) and Flo-gas Corporation. The Company provides natural gas supply and supply management services through Peninsula Energy Services Company, Inc. (PESCO). PESCO primarily operates in Florida, on the Delmarva Peninsula, and in Ohio. The gas that PESCO sells is delivered to retail customers through affiliated and non-affiliated local distribution company systems and transmission pipelines. FPU sells energy-related merchandise in Florida.
Chesapeake Utilities Corp
909 Silver Lake Blvd
DOVER DE 19904-2409