Chesapeake Utilities's Comment on Competition and Industry Peers
Our natural gas and electric distribution operations and our natural gas transmission
operations compete with other forms of energy, including oil, propane and other
sources of energy. The principal competitive factors are price and, to a lesser
extent, accessibility. Our natural gas distribution operations have several
large industrial customers that are able to use fuel oil or propane as an alternative
to natural gas. When oil or propane prices decline, these interruptible customers
may convert to an alternative fuel source to satisfy their fuel requirements
and our sales volumes may decline. To address the uncertainty of alternative
fuel prices, we use flexible pricing arrangements on both the supply and sales
sides of our business to compete with alternative fuel price fluctuations.
Large industrial natural gas customers may be able to bypass our distribution
and transmission systems and make direct connections with “upstream”
interstate transmission pipelines when such connections are economically feasible.
Certain large industrial electric customers may be capable of generating electricity
for their own consumption. Although the risk of bypassing our systems is not
considered significant, we may adjust services and rates for these customers
to retain their business in certain situations.
February 2, 2024
Chesapeake Utilities Corporation Breaks Ground for Innovative Safety Training Facility in FloridaChesapeake Utilities Corporation, a leading energy company, recently made a significant investment in safety training by breaking ground for its second state-of-the-art facility in DeBary, Florida. As a prominent player in the energy sector, Chesapeake Utilities Corporation views safety as a top priority and is committed to ensuring the well-being of its employees as well as the communities it serves.The decision to establish a new safety training facility in Florida is a testament to Chesapeake Utilities Corporation s dedication to providing comprehensive and innovative safety education. The company recognizes t...
December 19, 2023
Chesapeake Utilities Corporation Expands Propane Services in North Carolina with Acquisition of J.T. Lee and Son s DOVER, Del., Dec. 19, 2023 - Chesapeake Utilities Corporation (NYSE: CPK), a leading energy company, announced today that its subsidiary, Sharp Energy, has successfully acquired the propane operating assets of J.T. Lee and Son s, a well-established propane provider in Cape Fear, North Carolina. This strategic acquisition marks an exciting step forward for Sharp Energy as it continues to expand its reach and offer enhanced services to customers in the region. With this acquisition, Sharp Energy solidifies its position as a prominent propane provider in North Carolina. The addition of J.T....
Publicly Traded Peers of Chesapeake Utilities Corp
Sources:
Chesapeake Utilities Corp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
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