Chesapeake Utilities Corporation
chpk.comWhat Do They Do?
Delivers natural gas and electricity to residential and business customers, transports natural gas for local utilities and commercial customers, and provides propane and mobile gas services.
10-K for FY2025, filed Feb 25, 2026Chesapeake Utilities Corporation is a Delaware corporation formed in 1947 with operations primarily in the Mid-Atlantic region, North…View ↗
Our regulated energy businesses are comprised of natural gas and electric distribution, as well as natural gas transmission services.View ↗
Our natural gas and electric distribution operations bill customers at standard rates approved by their respective state PSC. Each state…View ↗
Our natural gas transmission operations bill customers under rate schedules approved by the FERC or at rates negotiated with customers.View ↗
Delmarva Natural Gas Distribution FloridaNatural Gas Distribution FPUElectricDistribution Operating Revenues (in millions) Residential $…View ↗
Eastern Shore Peninsula Pipeline Operating Revenues (in millions) Local distribution companies - affiliated (1) $ 38.4 44 % $ 50.0 95 %…View ↗
How Do They Make Money?
Customers generally pay in the month after gas, electricity, propane or services are delivered. Propane is billed when delivered, while gas transport charges follow shipped volumes and mobile gas service charges are based on monthly work and agreed rates.
10-K for FY2025, filed Feb 25, 2026We recognize revenue when our performance obligations under contracts with customers have been satisfied, which generally occurs when our…View ↗
Our unregulated propane distribution businesses record revenue in the period the products are delivered and/or services are rendered for…View ↗
Our Ohio natural gas transmission/supply operation recognizes revenues based on actual volumes of natural gas shipped using contractual…View ↗
Our mobile compressed natural gas operation recognizes revenue for CNG services at the end of each calendar month for services provided…View ↗
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by reportable segment ↗
$930M
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10-K for FY2025, filed Feb 25, 2026
$930M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Regulated Energy
Usage-based
10-K for FY2025, filed Feb 25, 2026 |
74%
FY2022: 63%
|
Regulated Energy, FY2025
$687.8M Sources
|
Usage-based |
|
Unregulated Energy
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
29%
FY2022: 41%
|
Unregulated Energy, FY2025
$271.9M Sources
|
Sold outright |
|
Other
|
−3.2%
FY2022: −4.3%
|
Other, FY2025
−$29.7M Sources
|
Who Are Their Customers?
Bills residential and commercial/industrial gas and electric customers directly. Pipeline transportation customers include affiliated and unaffiliated local distribution companies, as well as commercial and industrial customers.
10-K for FY2025, filed Feb 25, 2026Our natural gas and electric distribution operations bill customers at standard rates approved by their respective state PSC. Each state…View ↗
Our natural gas transmission operations bill customers under rate schedules approved by the FERC or at rates negotiated with customers.View ↗
Delmarva Natural Gas Distribution FloridaNatural Gas Distribution FPUElectricDistribution Operating Revenues (in millions) Residential $…View ↗
Eastern Shore Peninsula Pipeline Operating Revenues (in millions) Local distribution companies - affiliated (1) $ 38.4 44 % $ 50.0 95 %…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 15 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$214.9M.
10-K for FY2025, filed Feb 25, 2026
$255.9MView ↗
10-K for FY2025, filed Feb 25, 2026
$140.3MView ↗
10-K for FY2025, filed Feb 25, 2026
−$214.9MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
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Sep 1, 2026
Sold a minority stake in Florida Energy Pathway
NextEra Energy Resources acquired 49% ownership while Chesapeake retained 51%.
Sources
8-K, filed Sep 1, 2026
On September 1, 2026, Chesapeake, through its indirect subsidiary Peninsula Pipeline Holdings, LLC (“Peninsula”) today announced it sold a…View ↗
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Mar 24, 2026
Beth Cooper retired as CFO and Jeff Sylvester succeeded her
Sources
8-K, filed Mar 24, 2026
Chesapeake Utilities CFO Beth Cooper announces retirement, COO Jeff Sylvester named successorView ↗
Growing. Revenue grew 63% in 4 years, from $570M in FY2021 to $930M in FY2025, about 13% a year.
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