Document
P5YP5Dfalse--12-31FY20192019-12-3110-K0000019745DECHESAPEAKE UTILITIES CORPNYSECPK105800013370000.48670.48675000000050000000Lender's base rate, plus 0.85 percentLIBOR rate, plus 1.125 percentLIBOR rate, plus 0.75 percentLender's base rate, plus 0.75 percentLIBOR rate, plus 0.75 percent0.09080.02460.03230.03980.03480.03580.06430.05500.05680.06640.03730.03882022-06-012020-02-282020-01-212039-08-202034-12-202038-05-312038-11-302028-05-022020-10-122026-06-302023-10-312032-04-302017-10-312028-12-162029-05-1546500015400000273000450000042500011534662500000P3Y0.007513000000110000003100022000200004320004900036800080005550001760000.0120000002000000P33YP37YP33YP45YP25YP40YP37YP45YP10YP20YP5YP5YP5YP20YP10YP10YP5YP3YP4Y 0000019745 2019-01-01 2019-12-31 0000019745 us-gaap:SegmentDiscontinuedOperationsMember 2019-01-01 2019-12-31 0000019745 2019-06-30 0000019745 2020-02-20 0000019745 2018-01-01 2018-12-31 0000019745 2017-01-01 2017-12-31 0000019745 2019-12-31 0000019745 2018-12-31 0000019745 2017-12-31 0000019745 2016-12-31 0000019745 us-gaap:TreasuryStockMember 2017-12-31 0000019745 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-12-31 0000019745 us-gaap:AdditionalPaidInCapitalMember 2016-12-31 0000019745 us-gaap:AdditionalPaidInCapitalMember 2017-01-01 2017-12-31 0000019745 us-gaap:DeferredCompensationShareBasedPaymentsMember 2018-01-01 2018-12-31 0000019745 us-gaap:CommonStockMember 2017-01-01 2017-12-31 0000019745 us-gaap:RetainedEarningsMember 2018-01-01 2018-12-31 0000019745 us-gaap:RetainedEarningsMember 2017-01-01 2017-12-31 0000019745 us-gaap:DeferredCompensationShareBasedPaymentsMember 2017-01-01 2017-12-31 0000019745 us-gaap:RetainedEarningsMember 2019-01-01 2019-12-31 0000019745 us-gaap:CommonStockMember 2018-12-31 0000019745 us-gaap:DeferredCompensationShareBasedPaymentsMember 2019-01-01 2019-12-31 0000019745 us-gaap:TreasuryStockMember 2016-12-31 0000019745 us-gaap:TreasuryStockMember 2018-12-31 0000019745 us-gaap:DeferredCompensationShareBasedPaymentsMember 2016-12-31 0000019745 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-12-31 0000019745 us-gaap:CommonStockMember 2016-12-31 0000019745 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0000019745 us-gaap:RetainedEarningsMember 2017-12-31 0000019745 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0000019745 us-gaap:CommonStockMember 2018-01-01 2018-12-31 0000019745 us-gaap:RetainedEarningsMember 2019-12-31 0000019745 us-gaap:RetainedEarningsMember 2016-12-31 0000019745 us-gaap:CommonStockMember 2019-01-01 2019-12-31 0000019745 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-01-01 2017-12-31 0000019745 us-gaap:TreasuryStockMember 2019-01-01 2019-12-31 0000019745 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-12-31 0000019745 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000019745 us-gaap:CommonStockMember 2019-12-31 0000019745 us-gaap:TreasuryStockMember 2018-01-01 2018-12-31 0000019745 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-12-31 0000019745 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000019745 us-gaap:CommonStockMember 2017-12-31 0000019745 us-gaap:TreasuryStockMember 2017-01-01 2017-12-31 0000019745 us-gaap:RetainedEarningsMember 2018-12-31 0000019745 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2016-12-31 0000019745 us-gaap:TreasuryStockMember 2019-12-31 0000019745 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0000019745 us-gaap:DeferredCompensationShareBasedPaymentsMember 2017-12-31 0000019745 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000019745 us-gaap:DeferredCompensationShareBasedPaymentsMember 2018-12-31 0000019745 us-gaap:DeferredCompensationShareBasedPaymentsMember 2019-12-31 0000019745 cpk:OtherPropertyPlantAndEquipmentMember 2018-12-31 0000019745 stpr:OH cpk:NaturalGasTransmissionMember 2019-12-31 0000019745 cpk:DelmarvaandFloridaMember cpk:NaturalGasDistributionMember 2018-12-31 0000019745 cpk:VariousMember cpk:OtherUnregulatedEnergyMember 2018-12-31 0000019745 stpr:FL us-gaap:ElectricDistributionMember 2019-12-31 0000019745 cpk:DelmarvaPeninsulaPennsylvaniaandFloridaMember cpk:NaturalGasTransmissionMember 2019-12-31 0000019745 stpr:FL cpk:ElectricityandSteamGenerationMember 2018-12-31 0000019745 cpk:MidAtlanticandFloridaMember cpk:PropaneOperationsMember 2019-12-31 0000019745 stpr:OH cpk:NaturalGasTransmissionMember 2018-12-31 0000019745 cpk:DelmarvaPeninsulaPennsylvaniaandFloridaMember cpk:NaturalGasTransmissionMember 2018-12-31 0000019745 stpr:FL cpk:MobileCNGUtilityandPipelineSolutionsMember 2019-12-31 0000019745 stpr:FL cpk:ElectricityandSteamGenerationMember 2019-12-31 0000019745 cpk:OtherPropertyPlantAndEquipmentMember 2019-12-31 0000019745 cpk:VariousMember cpk:OtherUnregulatedEnergyMember 2019-12-31 0000019745 cpk:DelmarvaandFloridaMember cpk:NaturalGasDistributionMember 2019-12-31 0000019745 stpr:FL us-gaap:ElectricDistributionMember 2018-12-31 0000019745 stpr:FL cpk:MobileCNGUtilityandPipelineSolutionsMember 2018-12-31 0000019745 cpk:MidAtlanticandFloridaMember cpk:PropaneOperationsMember 2018-12-31 0000019745 cpk:NaturalGasOperationsMember 2019-12-31 0000019745 cpk:NaturalGasOperationsMember 2018-12-31 0000019745 stpr:FL us-gaap:ElectricDistributionMember 2018-01-01 2018-12-31 0000019745 stpr:FL us-gaap:GasDistributionMember 2017-01-01 2017-12-31 0000019745 cpk:DelmarvaMember us-gaap:GasTransmissionMember 2018-01-01 2018-12-31 0000019745 stpr:FL us-gaap:GasTransmissionMember 2018-01-01 2018-12-31 0000019745 stpr:FL us-gaap:GasDistributionMember 2019-01-01 2019-12-31 0000019745 cpk:DelmarvaMember us-gaap:GasDistributionMember 2017-01-01 2017-12-31 0000019745 cpk:DelmarvaMember us-gaap:GasTransmissionMember 2017-01-01 2017-12-31 0000019745 cpk:DelmarvaMember us-gaap:GasDistributionMember 2018-01-01 2018-12-31 0000019745 stpr:FL us-gaap:GasDistributionMember 2018-01-01 2018-12-31 0000019745 stpr:FL us-gaap:GasTransmissionMember 2017-01-01 2017-12-31 0000019745 cpk:DelmarvaMember us-gaap:GasTransmissionMember 2019-01-01 2019-12-31 0000019745 stpr:FL us-gaap:GasTransmissionMember 2019-01-01 2019-12-31 0000019745 stpr:FL us-gaap:ElectricDistributionMember 2019-01-01 2019-12-31 0000019745 cpk:DelmarvaMember us-gaap:GasDistributionMember 2019-01-01 2019-12-31 0000019745 stpr:FL us-gaap:ElectricDistributionMember 2017-01-01 2017-12-31 0000019745 srt:MaximumMember cpk:MeasuringAndRegulatingStationEquipmentMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember cpk:PropaneBulkPlantsAndTanksMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember cpk:MeasuringAndRegulatingStationEquipmentMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember cpk:NaturalgasprocessingequipmentMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember cpk:MetersAndMeterInstallationsMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember cpk:MetersAndMeterInstallationsMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember us-gaap:TransportationEquipmentMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember cpk:LiquefiedPetroleumGasEquipmentMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember cpk:PropaneBulkPlantsAndTanksMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember cpk:StructuresAndImprovementsMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember cpk:PropaneDistributionMainsMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember cpk:LiquefiedPetroleumGasEquipmentMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember us-gaap:TransportationEquipmentMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember us-gaap:OfficeEquipmentMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember cpk:NaturalgaspipelinesMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember us-gaap:OfficeEquipmentMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember cpk:StructuresAndImprovementsMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember cpk:NaturalgasprocessingequipmentMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember cpk:PropaneDistributionMainsMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember 2019-12-31 0000019745 srt:MaximumMember 2019-12-31 0000019745 us-gaap:SegmentDiscontinuedOperationsMember 2017-01-01 2017-12-31 0000019745 us-gaap:SegmentDiscontinuedOperationsMember 2018-01-01 2018-12-31 0000019745 us-gaap:DiscontinuedOperationsDisposedOfBySaleMember 2019-01-01 2019-12-31 0000019745 cpk:BouldenMember 2019-01-01 2019-12-31 0000019745 cpk:MarlinGasServicesMember 2019-01-01 2019-12-31 0000019745 cpk:OhlMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 us-gaap:SegmentDiscontinuedOperationsMember 2018-12-31 0000019745 cpk:OhlMember 2018-12-31 0000019745 cpk:ElktonGasMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:PESCOMember 2018-12-31 0000019745 cpk:MarlinMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:OhlMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:BouldenMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:BouldenMember cpk:UnregulatedEnergyMember 2019-12-31 0000019745 us-gaap:SegmentDiscontinuedOperationsMember 2019-12-31 0000019745 cpk:PESCOMember 2017-01-01 2017-12-31 0000019745 cpk:PESCOMember 2018-01-01 2018-12-31 0000019745 cpk:PESCOMember 2019-01-01 2019-12-31 0000019745 cpk:MarlinGasServicesMember 2018-01-01 2018-12-31 0000019745 cpk:MarlinandOhlMember 2018-01-01 2018-12-31 0000019745 cpk:ARMEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:OtherMember 2018-01-01 2018-12-31 0000019745 cpk:FloridaNaturalGasDistributionMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:EasternShoreGasCompanyMember cpk:EnergyTransmissionMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:DelawarenaturalgasdivisionMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:EliminationsMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:DelawarenaturalgasdivisionMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:FPUElectricDistributionMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EliminationsMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:MarlinGasServicesMember cpk:EnergyServicesMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:EliminationsMember cpk:OtherSegmentsAndIntersegmentsEliminationsMember 2018-01-01 2018-12-31 0000019745 cpk:EliminationsMember 2018-01-01 2018-12-31 0000019745 cpk:PeninsulaPipelineMember cpk:EnergyTransmissionMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:OtherMember 2018-01-01 2018-12-31 0000019745 cpk:FloridaPropaneMember cpk:PropaneDeliveryMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EasternShoreGasCompanyMember cpk:EnergyTransmissionMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:PeninsulaPipelineMember cpk:EnergyTransmissionMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EnergyTransmissionMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EliminationsMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:AspireMember cpk:EnergyTransmissionMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:OtherMember 2019-01-01 2019-12-31 0000019745 cpk:MarylandNaturalGasMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EnergyTransmissionMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:MarylandNaturalGasMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:OtherSegmentsAndIntersegmentsEliminationsMember 2018-01-01 2018-12-31 0000019745 cpk:SandpiperMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EliminationsMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:AspireMember cpk:EnergyTransmissionMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:FPUElectricDistributionMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:SandpiperMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:OtherMember cpk:OtherSegmentsAndIntersegmentsEliminationsMember 2018-01-01 2018-12-31 0000019745 cpk:EnergyTransmissionMember 2018-01-01 2018-12-31 0000019745 cpk:EliminationsMember 2019-01-01 2019-12-31 0000019745 cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:EightFlagsMember cpk:EnergyGenerationMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EliminationsMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:EightFlagsMember cpk:EnergyGenerationMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:FloridaNaturalGasDistributionMember cpk:EnergyDistributionMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EliminationsMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:OtherMember 2019-01-01 2019-12-31 0000019745 cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:MarlinGasServicesMember cpk:EnergyServicesMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EnergyTransmissionMember 2019-01-01 2019-12-31 0000019745 srt:ConsolidationEliminationsMember 2018-01-01 2018-12-31 0000019745 cpk:EnergyTransmissionMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:FloridaPropaneMember cpk:PropaneDeliveryMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:EliminationsMember cpk:OtherSegmentsAndIntersegmentsEliminationsMember 2019-01-01 2019-12-31 0000019745 cpk:EnergyTransmissionMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:EliminationsMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:OtherMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 srt:ConsolidationEliminationsMember 2019-01-01 2019-12-31 0000019745 cpk:EliminationsMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:OtherMember cpk:OtherSegmentsAndIntersegmentsEliminationsMember 2019-01-01 2019-12-31 0000019745 cpk:OtherMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:OtherSegmentsAndIntersegmentsEliminationsMember 2019-01-01 2019-12-31 0000019745 cpk:OtherMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 2025-01-01 cpk:EasternShoreandPeninsulaPipelineMember 2019-12-31 0000019745 2022-01-01 cpk:EasternShoreandPeninsulaPipelineMember 2019-12-31 0000019745 2024-01-01 cpk:TotalforSegmentsMember 2019-12-31 0000019745 2022-01-01 cpk:FPUElectricDistributionMember 2019-12-31 0000019745 2024-01-01 cpk:NaturalgasdistributionoperationsMember 2019-12-31 0000019745 2023-01-01 cpk:EasternShoreandPeninsulaPipelineMember 2019-12-31 0000019745 2024-01-01 cpk:EasternShoreandPeninsulaPipelineMember 2019-12-31 0000019745 2022-01-01 cpk:NaturalgasdistributionoperationsMember 2019-12-31 0000019745 2020-01-01 cpk:EasternShoreandPeninsulaPipelineMember 2019-12-31 0000019745 2021-01-01 cpk:TotalforSegmentsMember 2019-12-31 0000019745 2021-01-01 cpk:EasternShoreandPeninsulaPipelineMember 2019-12-31 0000019745 2025-01-01 cpk:NaturalgasdistributionoperationsMember 2019-12-31 0000019745 2021-01-01 cpk:NaturalgasdistributionoperationsMember 2019-12-31 0000019745 2025-01-01 cpk:TotalforSegmentsMember 2019-12-31 0000019745 2023-01-01 cpk:TotalforSegmentsMember 2019-12-31 0000019745 2020-01-01 cpk:NaturalgasdistributionoperationsMember 2019-12-31 0000019745 2022-01-01 cpk:TotalforSegmentsMember 2019-12-31 0000019745 2025-01-01 cpk:FPUElectricDistributionMember 2019-12-31 0000019745 2023-01-01 cpk:FPUElectricDistributionMember 2019-12-31 0000019745 2020-01-01 cpk:FPUElectricDistributionMember 2019-12-31 0000019745 2021-01-01 cpk:FPUElectricDistributionMember 2019-12-31 0000019745 2024-01-01 cpk:FPUElectricDistributionMember 2019-12-31 0000019745 2023-01-01 cpk:NaturalgasdistributionoperationsMember 2019-12-31 0000019745 2020-01-01 cpk:TotalforSegmentsMember 2019-12-31 0000019745 cpk:OtherMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:OtherMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:OtherMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:OtherMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:RegulatedEnergyMember 2019-12-31 0000019745 us-gaap:SegmentContinuingOperationsMember 2018-12-31 0000019745 cpk:RegulatedEnergyMember 2018-12-31 0000019745 us-gaap:AllOtherSegmentsMember 2018-12-31 0000019745 cpk:UnregulatedEnergyMember 2018-12-31 0000019745 cpk:UnregulatedEnergyMember 2019-12-31 0000019745 us-gaap:AllOtherSegmentsMember 2019-12-31 0000019745 us-gaap:IntersegmentEliminationMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 us-gaap:IntersegmentEliminationMember 2019-01-01 2019-12-31 0000019745 us-gaap:IntersegmentEliminationMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 us-gaap:IntersegmentEliminationMember us-gaap:AllOtherSegmentsMember 2017-01-01 2017-12-31 0000019745 cpk:RegulatedEnergyMember 2017-01-01 2017-12-31 0000019745 cpk:TotalforSegmentsMember 2019-01-01 2019-12-31 0000019745 us-gaap:AllOtherSegmentsMember 2019-01-01 2019-12-31 0000019745 us-gaap:IntersegmentEliminationMember cpk:UnregulatedEnergyMember 2017-01-01 2017-12-31 0000019745 cpk:TotalforSegmentsMember 2017-01-01 2017-12-31 0000019745 us-gaap:OperatingSegmentsMember 2017-01-01 2017-12-31 0000019745 us-gaap:OperatingSegmentsMember 2018-01-01 2018-12-31 0000019745 us-gaap:OperatingSegmentsMember cpk:UnregulatedEnergyMember 2018-01-01 2018-12-31 0000019745 us-gaap:OperatingSegmentsMember cpk:UnregulatedEnergyMember 2019-01-01 2019-12-31 0000019745 us-gaap:AllOtherSegmentsMember 2018-01-01 2018-12-31 0000019745 us-gaap:OperatingSegmentsMember 2019-01-01 2019-12-31 0000019745 us-gaap:AllOtherSegmentsMember 2017-01-01 2017-12-31 0000019745 us-gaap:IntersegmentEliminationMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 cpk:UnregulatedEnergyMember 2017-01-01 2017-12-31 0000019745 cpk:OtherSegmentsAndIntersegmentsEliminationsMember 2017-01-01 2017-12-31 0000019745 us-gaap:IntersegmentEliminationMember 2018-01-01 2018-12-31 0000019745 us-gaap:IntersegmentEliminationMember us-gaap:AllOtherSegmentsMember 2019-01-01 2019-12-31 0000019745 us-gaap:OperatingSegmentsMember cpk:RegulatedEnergyMember 2017-01-01 2017-12-31 0000019745 us-gaap:OperatingSegmentsMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 us-gaap:IntersegmentEliminationMember 2017-01-01 2017-12-31 0000019745 cpk:TotalforSegmentsMember 2018-01-01 2018-12-31 0000019745 us-gaap:OperatingSegmentsMember cpk:UnregulatedEnergyMember 2017-01-01 2017-12-31 0000019745 us-gaap:IntersegmentEliminationMember us-gaap:AllOtherSegmentsMember 2018-01-01 2018-12-31 0000019745 us-gaap:OperatingSegmentsMember cpk:RegulatedEnergyMember 2019-01-01 2019-12-31 0000019745 us-gaap:IntersegmentEliminationMember cpk:RegulatedEnergyMember 2017-01-01 2017-12-31 0000019745 us-gaap:IntersegmentEliminationMember cpk:RegulatedEnergyMember 2018-01-01 2018-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:NondesignatedMember us-gaap:CostOfSalesMember 2018-01-01 2018-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2018-01-01 2018-12-31 0000019745 cpk:NaturalGasFuturesMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2019-01-01 2019-12-31 0000019745 cpk:NaturalGasFuturesMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2017-01-01 2017-12-31 0000019745 cpk:PutOrCallOptionMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2018-01-01 2018-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:NondesignatedMember us-gaap:CostOfSalesMember 2019-01-01 2019-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:NondesignatedMember us-gaap:CostOfSalesMember 2017-01-01 2017-12-31 0000019745 cpk:NaturalGasSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2018-01-01 2018-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2019-01-01 2019-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2018-01-01 2018-12-31 0000019745 us-gaap:ForwardContractsMember us-gaap:NondesignatedMember us-gaap:SalesMember 2019-01-01 2019-12-31 0000019745 cpk:PutOrCallOptionMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2017-01-01 2017-12-31 0000019745 cpk:PutOrCallOptionMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2019-01-01 2019-12-31 0000019745 us-gaap:ForwardContractsMember us-gaap:NondesignatedMember us-gaap:SalesMember 2018-01-01 2018-12-31 0000019745 cpk:NaturalGasFuturesMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2018-01-01 2018-12-31 0000019745 us-gaap:ForwardContractsMember us-gaap:NondesignatedMember us-gaap:SalesMember 2017-01-01 2017-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2019-01-01 2019-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2017-01-01 2017-12-31 0000019745 cpk:NaturalGasSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2017-01-01 2017-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember 2017-01-01 2017-12-31 0000019745 cpk:NaturalGasSwapsMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2019-01-01 2019-12-31 0000019745 cpk:A2017Member cpk:MarkToMarketEnergyLiabilitiesMember cpk:PropaneSwapAgreementMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0000019745 cpk:A2017Member cpk:MarkToMarketEnergyLiabilitiesMember cpk:PropaneSwapAgreementMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0000019745 cpk:SharpEnergyIncMember us-gaap:SwapMember 2019-01-01 2019-12-31 0000019745 cpk:SharpEnergyIncMember 2019-01-01 2019-12-31 0000019745 cpk:SharpEnergyIncMember 2019-12-31 0000019745 cpk:SharpEnergyIncMember 2018-12-31 0000019745 cpk:MarkToMarketEnergyAssetsMember us-gaap:PutOptionMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0000019745 cpk:MarkToMarketEnergyAssetsMember us-gaap:PutOptionMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0000019745 cpk:MarkToMarketEnergyAssetsMember cpk:PropaneSwapAgreementMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0000019745 cpk:MarkToMarketEnergyAssetsMember cpk:PropaneSwapAgreementMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0000019745 us-gaap:InvestmentsMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 cpk:GuaranteedIncomeFundMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 cpk:MarkToMarketEnergyAssetsIncludingPutOptionMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000019745 us-gaap:FairValueInputsLevel3Member cpk:MarkToMarketEnergyLiabilitiesMember 2019-12-31 0000019745 us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:InvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 cpk:MarkToMarketEnergyAssetsIncludingPutOptionMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:InvestmentsMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:InvestmentsMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 cpk:MarkToMarketEnergyAssetsIncludingPutOptionMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000019745 us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 cpk:GuaranteedIncomeFundMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 cpk:MarkToMarketEnergyAssetsIncludingPutOptionMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000019745 cpk:MarkToMarketEnergyLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000019745 us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000019745 us-gaap:FairValueInputsLevel2Member cpk:MarkToMarketEnergyLiabilitiesMember 2019-12-31 0000019745 us-gaap:FairValueInputsLevel1Member cpk:MarkToMarketEnergyLiabilitiesMember 2019-12-31 0000019745 cpk:GuaranteedIncomeFundMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000019745 cpk:GuaranteedIncomeFundMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 cpk:GuaranteedIncomeFundMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000019745 cpk:MarkToMarketEnergyLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000019745 us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:InvestmentsMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:InvestmentsMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 cpk:MarkToMarketEnergyAssetsIncludingPutOptionMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:FairValueInputsLevel2Member cpk:MarkToMarketEnergyLiabilitiesMember 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000019745 cpk:GuaranteedIncomeFundMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 cpk:MarkToMarketEnergyAssetsIncludingPutOptionMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000019745 us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000019745 us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:InvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000019745 us-gaap:InvestmentsMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 cpk:RabbiTrustAssociatedWithDeferredCompensationMember 2018-12-31 0000019745 cpk:RabbiTrustAssociatedWithDeferredCompensationMember 2019-12-31 0000019745 cpk:MarlinGasServicesMember cpk:UnregulatedEnergyMember 2018-12-31 0000019745 cpk:AspireEnergyMember cpk:UnregulatedEnergyMember 2018-12-31 0000019745 cpk:FloridaPropaneOperationsMember cpk:UnregulatedEnergyMember 2018-12-31 0000019745 cpk:AspireEnergyMember cpk:UnregulatedEnergyMember 2019-12-31 0000019745 cpk:FloridaPropaneOperationsMember cpk:UnregulatedEnergyMember 2019-12-31 0000019745 cpk:MarlinGasServicesMember cpk:UnregulatedEnergyMember 2019-12-31 0000019745 cpk:FloridaNaturalGasDistributionMember cpk:RegulatedEnergyMember 2018-12-31 0000019745 cpk:FloridaNaturalGasDistributionMember cpk:RegulatedEnergyMember 2019-12-31 0000019745 cpk:MidAtlanticPropaneOperationsMember cpk:UnregulatedEnergyMember 2019-12-31 0000019745 cpk:MidAtlanticPropaneOperationsMember cpk:UnregulatedEnergyMember 2018-12-31 0000019745 us-gaap:CustomerListsMember cpk:BouldenMember 2019-12-31 0000019745 us-gaap:NoncompeteAgreementsMember cpk:BouldenMember 2019-12-31 0000019745 cpk:BouldenMember cpk:UnregulatedEnergyMember 2019-12-31 0000019745 us-gaap:NoncompeteAgreementsMember 2018-12-31 0000019745 us-gaap:PatentsMember 2019-12-31 0000019745 us-gaap:CustomerListsMember 2019-12-31 0000019745 us-gaap:OtherIntangibleAssetsMember 2018-12-31 0000019745 us-gaap:PatentsMember 2018-12-31 0000019745 us-gaap:NoncompeteAgreementsMember 2019-12-31 0000019745 us-gaap:CustomerListsMember 2018-12-31 0000019745 us-gaap:OtherIntangibleAssetsMember 2019-12-31 0000019745 srt:MinimumMember us-gaap:CustomerListsMember 2019-01-01 2019-12-31 0000019745 cpk:DeferredCostsMember 2019-01-01 2019-12-31 0000019745 cpk:OtherDeferredIncomeTaxExpenseMember 2018-01-01 2018-12-31 0000019745 cpk:PensionAndOtherPostretirementBenefitsMember 2019-01-01 2019-12-31 0000019745 cpk:MergerRelatedTransactionCostsMember 2019-01-01 2019-12-31 0000019745 cpk:MergerRelatedTransactionCostsMember 2018-01-01 2018-12-31 0000019745 cpk:PensionAndOtherPostretirementBenefitsMember 2018-01-01 2018-12-31 0000019745 cpk:OtherDeferredIncomeTaxExpenseMember 2017-01-01 2017-12-31 0000019745 cpk:PensionAndOtherPostretirementBenefitsMember 2017-01-01 2017-12-31 0000019745 cpk:NetOperatingLossCarryforwardsMember 2018-01-01 2018-12-31 0000019745 us-gaap:PropertyPlantAndEquipmentMember 2018-01-01 2018-12-31 0000019745 cpk:NetOperatingLossCarryforwardsMember 2017-01-01 2017-12-31 0000019745 cpk:DeferredCostsMember 2017-01-01 2017-12-31 0000019745 cpk:MergerRelatedTransactionCostsMember 2017-01-01 2017-12-31 0000019745 cpk:NetOperatingLossCarryforwardsMember 2019-01-01 2019-12-31 0000019745 us-gaap:PropertyPlantAndEquipmentMember 2017-01-01 2017-12-31 0000019745 cpk:OtherDeferredIncomeTaxExpenseMember 2019-01-01 2019-12-31 0000019745 us-gaap:PropertyPlantAndEquipmentMember 2019-01-01 2019-12-31 0000019745 cpk:DeferredCostsMember 2018-01-01 2018-12-31 0000019745 us-gaap:StateAndLocalJurisdictionMember 2018-12-31 0000019745 us-gaap:StateAndLocalJurisdictionMember 2019-12-31 0000019745 srt:MaximumMember cpk:AggregateShelfAgreementsMember 2019-12-31 0000019745 cpk:PrudentialMember 2019-12-31 0000019745 cpk:AggregateShelfAgreementsMember 2019-12-31 0000019745 cpk:NewYorkLifeMember 2019-12-31 0000019745 cpk:AggregatedUnfundedCommitmentsMember 2019-12-31 0000019745 srt:MaximumMember cpk:PrudentialMember 2019-12-31 0000019745 srt:MaximumMember cpk:MetLifeMember 2019-12-31 0000019745 srt:MaximumMember cpk:NewYorkLifeMember 2019-12-31 0000019745 cpk:MetLifeMember 2019-12-31 0000019745 cpk:PrudentialUnfundedCommitmentsMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueNovemberTwoThousandThirtyEightMember 2018-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueAprilTwoThousandThirtyTwoMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnTwoThousandTwentyMember 2018-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueMayTwoThousandThirtyEightMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueDecemberTwoThousandThirtyFourMember 2019-12-31 0000019745 cpk:TermNoteDueJanuaryTwoThousandTwentyMember 2018-12-31 0000019745 cpk:UncollateralizedSeniorNotesDueOnTwoThousandTwentyNineMember 2019-12-31 0000019745 cpk:PromissoryNoteMember 2018-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnTwoThousandTwentyThreeMember 2018-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnTwoThousandTwentySixMember 2019-12-31 0000019745 cpk:PromissoryNoteMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteTwoDueonDecemberTwoThousandTwentyEightMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueAprilTwoThousandThirtyTwoMember 2018-12-31 0000019745 cpk:UncollateralizedSeniorNotesDueOnTwoThousandTwentyNineMember 2018-12-31 0000019745 cpk:FirstMortgageBondDueOnTwoThousandTwentyTwoMember 2018-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnTwoThousandTwentySixMember 2018-12-31 0000019745 cpk:UncollateralizedSeniorNoteTwoDueonDecemberTwoThousandTwentyEightMember 2018-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnMay2TwoThousandTwentyEightMember 2018-12-31 0000019745 cpk:FirstMortgageBondDueOnTwoThousandTwentyTwoMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnMay2TwoThousandTwentyEightMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueNovemberTwoThousandThirtyEightMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueAugustTwoThousandThirtyNineMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueMayTwoThousandThirtyEightMember 2018-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnTwoThousandTwentyThreeMember 2019-12-31 0000019745 cpk:TermNoteDueJanuaryTwoThousandTwentyMember 2019-12-31 0000019745 cpk:TermNoteDueFebruaryTwoThousandTwentyMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnTwoThousandTwentyMember 2019-12-31 0000019745 cpk:NYLUnsecuredDebtMember 2019-12-31 0000019745 cpk:ElectricLimitedProceedingsMember 2019-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMember 2019-12-31 0000019745 cpk:PrudentialUnsecuredDebtMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueonTwoThousandThirtyTwoMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnMay2TwoThousandTwentyEightMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnTwoThousandTwentyMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteTwoDueonDecemberTwoThousandTwentyEightMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueonTwoThousandThirtyTwoMember 2019-01-01 2019-12-31 0000019745 cpk:TermNoteDueFebruaryTwoThousandTwentyMember 2019-01-01 2019-12-31 0000019745 cpk:TermNoteDueJanuaryTwoThousandTwentyMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueNovemberTwoThousandThirtyEightMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnTwoThousandTwentySixMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueDecemberTwoThousandThirtyFourMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueAugustTwoThousandThirtyNineMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNotesDueOnTwoThousandTwentyNineMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteOneDueOnTwoThousandSeventeenMember 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteOneDueOnTwoThousandSeventeenMember 2019-01-01 2019-12-31 0000019745 cpk:FirstMortgageBondDueOnTwoThousandTwentyTwoMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueOnTwoThousandTwentyThreeMember 2019-01-01 2019-12-31 0000019745 cpk:UncollateralizedSeniorNoteDueMayTwoThousandThirtyEightMember 2019-01-01 2019-12-31 0000019745 cpk:UncommittedLineOfCreditFacilityOneMember 2015-10-08 0000019745 us-gaap:RevolvingCreditFacilityMember 2019-12-31 0000019745 cpk:CommittedLineofCreditFacilityTwoMember 2018-12-31 0000019745 cpk:CommittedLineofCreditFacilityTwoMember 2019-12-31 0000019745 cpk:CommittedLineofCreditFacilityOneMember 2019-12-31 0000019745 cpk:CommittedLineofCreditFacilityFiveMember 2018-12-31 0000019745 cpk:CommittedLineofCreditFacilityFourMember 2019-12-31 0000019745 cpk:CommittedLineofCreditFacilityThreeMember 2019-12-31 0000019745 cpk:CommittedLineofCreditFacilityFourMember 2018-12-31 0000019745 cpk:CommittedLineofCreditFacilityFiveMember 2019-12-31 0000019745 cpk:CommittedLineofCreditFacilityThreeMember 2018-12-31 0000019745 cpk:CommittedLineofCreditFacilityOneMember 2018-12-31 0000019745 cpk:CommittedLineofCreditFacilityFiveMember 2019-01-01 2019-12-31 0000019745 cpk:CommittedLineofCreditFacilityOneMember 2019-01-01 2019-12-31 0000019745 cpk:CommittedLineofCreditFacilityThreeMember 2019-01-01 2019-12-31 0000019745 cpk:CommittedLineofCreditFacilityFourMember 2019-01-01 2019-12-31 0000019745 cpk:CommittedLineofCreditFacilityTwoMember 2019-01-01 2019-12-31 0000019745 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-01-01 2018-12-31 0000019745 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2017-01-01 2017-12-31 0000019745 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-01-01 2019-12-31 0000019745 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2018-01-01 2018-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2017-01-01 2017-12-31 0000019745 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-12-31 0000019745 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2017-01-01 2017-12-31 0000019745 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2017-01-01 2017-12-31 0000019745 cpk:NaturalGasSwapsMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2018-01-01 2018-12-31 0000019745 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2019-01-01 2019-12-31 0000019745 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2018-01-01 2018-12-31 0000019745 cpk:NaturalGasFuturesMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2017-01-01 2017-12-31 0000019745 cpk:NaturalGasSwapsMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2017-01-01 2017-12-31 0000019745 cpk:PropaneSwapAgreementMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2019-01-01 2019-12-31 0000019745 cpk:NaturalGasSwapsMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2019-01-01 2019-12-31 0000019745 cpk:NaturalGasFuturesMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2019-01-01 2019-12-31 0000019745 cpk:NaturalGasFuturesMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2018-01-01 2018-12-31 0000019745 cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2019-01-01 2019-12-31 0000019745 2018-01-01 2018-03-31 0000019745 cpk:AOCIChangesForDefinedBenefitPensionAndPostretirementPlansMember 2018-01-01 2018-03-31 0000019745 cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2018-01-01 2018-03-31 0000019745 cpk:AOCIChangesForDefinedBenefitPensionAndPostretirementPlansMember 2017-12-31 0000019745 cpk:AOCIChangesForDefinedBenefitPensionAndPostretirementPlansMember 2019-01-01 2019-12-31 0000019745 cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2019-12-31 0000019745 cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2017-12-31 0000019745 cpk:AOCIChangesForDefinedBenefitPensionAndPostretirementPlansMember 2019-12-31 0000019745 cpk:AccumulatedGainLossfromCommodityContractsCashFlowsHedgesMember 2018-12-31 0000019745 cpk:AOCIChangesForDefinedBenefitPensionAndPostretirementPlansMember 2018-12-31 0000019745 cpk:ChesapeakePostretirementPlanMember 2019-12-31 0000019745 cpk:ChesapeakePensionPlanMember 2019-12-31 0000019745 cpk:ChesapeakePostretirementPlanMember 2019-01-01 2019-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMedicalPlanMember 2019-01-01 2019-12-31 0000019745 cpk:ChesapeakePensionPlanMember 2019-01-01 2019-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2019-01-01 2019-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMedicalPlanMember 2019-12-31 0000019745 cpk:ChesapeakePensionSerpMember 2019-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2019-12-31 0000019745 cpk:ChesapeakePensionSerpMember 2019-01-01 2019-12-31 0000019745 cpk:ChesapeakePensionPlanMember 2018-01-01 2018-12-31 0000019745 cpk:ChesapeakePensionSerpMember 2018-01-01 2018-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2017-01-01 2017-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2018-01-01 2018-12-31 0000019745 cpk:ChesapeakePensionPlanMember 2017-01-01 2017-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2017-12-31 0000019745 cpk:ChesapeakePensionSerpMember 2017-12-31 0000019745 cpk:ChesapeakePensionSerpMember 2017-01-01 2017-12-31 0000019745 us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-12-31 0000019745 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-01-01 2019-12-31 0000019745 cpk:AwardtokeyemployeesMember 2019-01-01 2019-12-31 0000019745 cpk:ChesapeakePensionPlanMember 2018-12-31 0000019745 cpk:ChesapeakePensionSerpMember 2018-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2018-12-31 0000019745 cpk:ChesapeakePensionPlanMember 2017-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMedicalPlanMember 2017-01-01 2017-12-31 0000019745 cpk:ChesapeakePostretirementPlanMember 2017-01-01 2017-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMedicalPlanMember 2017-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMedicalPlanMember 2018-01-01 2018-12-31 0000019745 cpk:ChesapeakePostretirementPlanMember 2017-12-31 0000019745 cpk:ChesapeakePostretirementPlanMember 2018-01-01 2018-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMedicalPlanMember 2018-12-31 0000019745 cpk:ChesapeakePostretirementPlanMember 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsMidCapEquitySecuritiesMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:RealEstateMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FixedIncomeSecuritiesMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:RealEstateMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:InternationalAllCapEquityMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:PaymentGuaranteeMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:InternationalAllCapEquityMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:PaymentGuaranteeMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UnitedStatesEquitySmallCapMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:HighYieldAssetBackedSecuritiesMember 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:RealEstateMember 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:InternationalAllCapEquityMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:CommoditiesInvestmentMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FixedIncomeSecuritiesMember 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:InternationalAllCapEquityMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:AlternativeInvestmentMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:CommoditiesInvestmentMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsLargeCapEquitySecuritiesMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FixedIncomeSecuritiesMember 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:HighYieldAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsMidCapEquitySecuritiesMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsLargeCapEquitySecuritiesMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:AlternativeInvestmentMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsMidCapEquitySecuritiesMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FixedIncomeSecuritiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:InternationalAllCapEquityMember 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:PaymentGuaranteeMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:CommoditiesInvestmentMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UnitedStatesEquitySmallCapMember 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:HighYieldAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:InternationalAllCapEquityMember 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:CommoditiesInvestmentMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsMidCapEquitySecuritiesMember 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:InternationalAllCapEquityMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:CommoditiesInvestmentMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsMidCapEquitySecuritiesMember 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsLargeCapEquitySecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:CommoditiesInvestmentMember 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:AlternativeInvestmentMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:CommoditiesInvestmentMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:HighYieldAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsLargeCapEquitySecuritiesMember 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:PaymentGuaranteeMember 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FixedIncomeSecuritiesMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:HighYieldAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:HighYieldAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:PaymentGuaranteeMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:AlternativeInvestmentMember 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:RealEstateMember 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:PaymentGuaranteeMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:AlternativeInvestmentMember 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FixedIncomeSecuritiesMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:CommoditiesInvestmentMember 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:RealEstateMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:HighYieldAssetBackedSecuritiesMember 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:InternationalAllCapEquityMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsMidCapEquitySecuritiesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:PaymentGuaranteeMember 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UnitedStatesEquitySmallCapMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FixedIncomeSecuritiesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:AlternativeInvestmentMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:HighYieldAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UnitedStatesEquitySmallCapMember 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:RealEstateMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:PaymentGuaranteeMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsLargeCapEquitySecuritiesMember 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsLargeCapEquitySecuritiesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UnitedStatesEquitySmallCapMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UnitedStatesEquitySmallCapMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:AlternativeInvestmentMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UnitedStatesEquitySmallCapMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:RealEstateMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsMidCapEquitySecuritiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsLargeCapEquitySecuritiesMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsMidCapEquitySecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FixedIncomeSecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:OtherInvestmentsMember us-gaap:RealEstateMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:AlternativeInvestmentMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UnitedStatesEquitySmallCapMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:UsLargeCapEquitySecuritiesMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0000019745 srt:MinimumMember cpk:ForeignEquitiesMember 2019-12-31 0000019745 srt:MinimumMember cpk:DomesticEquitiesMember 2019-12-31 0000019745 srt:MaximumMember cpk:DomesticEquitiesMember 2019-12-31 0000019745 srt:MinimumMember cpk:DiversifiedInstrumentsMember 2019-12-31 0000019745 srt:MaximumMember us-gaap:FixedIncomeInvestmentsMember 2019-12-31 0000019745 srt:MaximumMember cpk:DiversifiedInstrumentsMember 2019-12-31 0000019745 srt:MinimumMember us-gaap:FixedIncomeInvestmentsMember 2019-12-31 0000019745 srt:MinimumMember us-gaap:CashAndCashEquivalentsMember 2019-12-31 0000019745 srt:MaximumMember cpk:ForeignEquitiesMember 2019-12-31 0000019745 srt:MaximumMember us-gaap:CashAndCashEquivalentsMember 2019-12-31 0000019745 srt:MinimumMember cpk:AlternativeInvestmentMember 2019-12-31 0000019745 srt:MaximumMember cpk:AlternativeInvestmentMember 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2017-12-31 0000019745 us-gaap:OtherThanSecuritiesInvestmentMember cpk:ChesapeakePensionPlanMember 2018-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:ChesapeakePensionPlanMember 2017-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2017-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:ChesapeakePensionPlanMember 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2018-12-31 0000019745 us-gaap:OtherThanSecuritiesInvestmentMember cpk:ChesapeakePensionPlanMember 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:ChesapeakePensionPlanMember 2017-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:ChesapeakePensionPlanMember 2018-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:ChesapeakePensionPlanMember 2019-12-31 0000019745 us-gaap:OtherThanSecuritiesInvestmentMember cpk:ChesapeakePensionPlanMember 2017-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:ChesapeakePensionPlanMember 2019-12-31 0000019745 us-gaap:OtherThanSecuritiesInvestmentMember cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2018-12-31 0000019745 us-gaap:OtherThanSecuritiesInvestmentMember cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2019-12-31 0000019745 us-gaap:DebtSecuritiesMember cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2019-12-31 0000019745 us-gaap:EquitySecuritiesMember cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2018-12-31 0000019745 us-gaap:OtherThanSecuritiesInvestmentMember cpk:FloridaPublicUtilitiesCompanyPensionPlanMember 2017-12-31 0000019745 cpk:RabbiTrustAssociatedWithDeferredCompensationPlanMember 2018-12-31 0000019745 srt:MaximumMember 2018-01-01 2018-12-31 0000019745 cpk:RetirementMedicalBenefitsPlansMember 2019-12-31 0000019745 srt:MinimumMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember 2019-01-01 2019-12-31 0000019745 cpk:RabbiTrustAssociatedWithDeferredCompensationPlanMember 2019-12-31 0000019745 cpk:FPUMedicalPlanandChesapeakeOPRBMember 2019-12-31 0000019745 us-gaap:FairValueInputsLevel3Member 2018-01-01 2018-12-31 0000019745 us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-12-31 0000019745 us-gaap:FairValueInputsLevel3Member 2017-12-31 0000019745 cpk:AwardstononemployeedirectorsMember 2018-01-01 2018-12-31 0000019745 cpk:AwardtokeyemployeesMember 2018-01-01 2018-12-31 0000019745 cpk:AwardstononemployeedirectorsMember 2017-01-01 2017-12-31 0000019745 cpk:AwardtokeyemployeesMember 2017-01-01 2017-12-31 0000019745 cpk:AwardstononemployeedirectorsMember 2019-01-01 2019-12-31 0000019745 cpk:AcceleratedVestedSharesMember 2018-01-01 2018-12-31 0000019745 cpk:AwardtokeyemployeesMember 2018-12-31 0000019745 cpk:AwardtokeyemployeesMember 2019-12-31 0000019745 cpk:AwardtokeyemployeesMember 2017-12-31 0000019745 cpk:AwardstononemployeedirectorMember 2018-01-01 2018-12-31 0000019745 cpk:AwardstononemployeedirectorMember 2019-01-01 2019-12-31 0000019745 cpk:TotalMember 2019-01-01 2019-12-31 0000019745 cpk:AwardstononemployeedirectorsMember 2019-12-31 0000019745 cpk:TotalMember 2018-01-01 2018-12-31 0000019745 us-gaap:StockCompensationPlanMember 2019-12-31 0000019745 cpk:PeninsulaPipelineMember cpk:CallahanProjectMember 2019-12-31 0000019745 cpk:EasternShoreGasCompanyMember cpk:DelMarPathwayProjectMember 2019-01-01 2019-12-31 0000019745 cpk:ElectricLimitedProceedingsMember 2019-01-01 2019-12-31 0000019745 cpk:EasternShoreGasCompanyMember cpk:DelMarPathwayProjectDomain 2019-01-01 2019-12-31 0000019745 cpk:EasternShoreGasCompanyMember cpk:DelMarPathwayProjectMember 2019-12-31 0000019745 cpk:IndiantownGasCompanyMember 2019-12-31 0000019745 cpk:FortMeadeandIndiantownDivisionsMember 2019-12-31 0000019745 cpk:DelawarenaturalgasdivisionMember 2019-12-31 0000019745 cpk:CentralFloridaGasDivisionMember 2019-12-31 0000019745 cpk:SandpiperMember 2019-12-31 0000019745 cpk:MarylandDivisionMember 2019-12-31 0000019745 cpk:EasternShoreGasCompanyMember 2019-12-31 0000019745 cpk:FPUelectricdivisionMember 2019-12-31 0000019745 cpk:UnderrecoveredGasAndFuelCostsMember 2018-12-31 0000019745 cpk:DeferredIncomeTaxDuetoRateChangeMember 2019-12-31 0000019745 cpk:UnderrecoveredGRIPRevenueMember 2019-12-31 0000019745 cpk:DeferredConversionAndDevelopmentCostsMember 2019-12-31 0000019745 cpk:EnvironmentalRegulatoryAssetsAndExpendituresMember 2019-12-31 0000019745 us-gaap:LossOnReacquiredDebtMember 2018-12-31 0000019745 cpk:DeferredIncomeTaxDuetoRateChangeMember 2018-12-31 0000019745 cpk:DeferredConversionAndDevelopmentCostsMember 2018-12-31 0000019745 cpk:EnvironmentalRegulatoryAssetsAndExpendituresMember 2018-12-31 0000019745 cpk:AccruedAssetRemovalCostMember 2019-12-31 0000019745 cpk:AcquisitionAdjustmentMember 2018-12-31 0000019745 cpk:UnderrecoveredGasAndFuelCostsMember 2019-12-31 0000019745 cpk:OtherRegulatoryLiabilityMember 2019-12-31 0000019745 cpk:StormReserveMember 2018-12-31 0000019745 us-gaap:LossOnReacquiredDebtMember 2019-12-31 0000019745 cpk:StormReserveMember 2019-12-31 0000019745 cpk:DeferredPostRetirementBenefitsMember 2018-12-31 0000019745 cpk:AcquisitionAdjustmentMember 2019-12-31 0000019745 cpk:DeferredPostRetirementBenefitsMember 2019-12-31 0000019745 cpk:UnderrecoveredGRIPRevenueMember 2018-12-31 0000019745 cpk:AccruedAssetRemovalCostMember 2018-12-31 0000019745 cpk:OverrecoveredGasAndFuelCostsMember 2018-12-31 0000019745 cpk:OtherRegulatoryAssetMember 2019-12-31 0000019745 cpk:OtherRegulatoryAssetMember 2018-12-31 0000019745 cpk:OverrecoveredGasAndFuelCostsMember 2019-12-31 0000019745 cpk:SelfInsuredLiabilitiesMember 2018-12-31 0000019745 cpk:OtherRegulatoryLiabilityMember 2018-12-31 0000019745 cpk:SelfInsuredLiabilitiesMember 2019-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMember cpk:ManufacturedGasPlantMember 2019-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMember 2019-01-01 2019-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMember cpk:ManufacturedGasPlantMember 2018-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMember 2018-01-01 2018-12-31 0000019745 cpk:FloridaPublicUtilitiesCompanyMember 2018-12-31 0000019745 srt:MaximumMember cpk:SeafordMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember cpk:WinterHavenFloridaMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember cpk:SeafordMember 2019-01-01 2019-12-31 0000019745 srt:MaximumMember cpk:WestPalmBeachFloridaMember 2019-01-01 2019-12-31 0000019745 srt:MinimumMember cpk:WestPalmBeachFloridaMember 2019-01-01 2019-12-31 0000019745 cpk:FloridaNaturalGasDistributionandEightFlagsMember 2019-01-01 2019-12-31 0000019745 2018-07-01 2018-09-30 0000019745 2019-01-01 2019-03-31 0000019745 2019-10-01 2019-12-31 0000019745 2019-04-01 2019-06-30 0000019745 2019-07-01 2019-09-30 0000019745 2018-10-01 2018-12-31 0000019745 2018-04-01 2018-06-30 xbrli:shares xbrli:pure utreg:mi iso4217:USD cpk:utility iso4217:USD xbrli:shares cpk:Dekatherm utreg:gal cpk:dekatherm utreg:D cpk:plan cpk:site

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-K
 
(Mark One)
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended: December 31, 2019
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 

Commission File Number: 001-11590 
 
 
 
CHESAPEAKE UTILITIES CORPORATION
(Exact name of registrant as specified in its charter)
 
 
 
State of Delaware
 
51-0064146
(State or other jurisdiction of
 
(I.R.S. Employer
incorporation or organization)
 
Identification No.)
909 Silver Lake Boulevard, Dover, Delaware 19904
(Address of principal executive offices, including zip code)
302-734-6799
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock—par value per share $0.4867
CPK
New York Stock Exchange, Inc.
Securities registered pursuant to Section 12(g) of the Act:
None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes     No 
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes      No 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes     No 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes     No 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
 
  
Accelerated filer
 
 
 
 
 
Non-accelerated filer
 
 
Smaller reporting company
 
 
 
 
 
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by a check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    Yes     No 
The aggregate market value of the common shares held by non-affiliates of Chesapeake Utilities Corporation as of June 30, 2019, the last business day of its most recently completed second fiscal quarter, based on the last sale price on that date, as reported by the New York Stock Exchange, was approximately $1.5 billion.



The number of shares of Chesapeake Utilities Corporation's common stock outstanding as of February 20, 2020 was 16,407,017
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Proxy Statement for the 2020 Annual Meeting of Stockholders are incorporated by reference in Part II and Part III, which Proxy Statement shall be filed with the Securities and Exchange Commission within 120 days after the end of registrant's fiscal year ended December 31, 2019.



CHESAPEAKE UTILITIES CORPORATION
FORM 10-K
YEAR ENDED DECEMBER 31, 2019
TABLE OF CONTENTS
 
 
Page



GLOSSARY OF DEFINITIONS
ASC: Accounting Standards Codification
ASU: Accounting Standards Update
Boulden: Boulden, Inc., an entity from whom we acquired certain propane operating assets
CDD: Cooling Degree-Day
Chesapeake or Chesapeake Utilities: Chesapeake Utilities Corporation, its divisions and subsidiaries, as appropriate in the context of the disclosure
CHP: Combined Heat and Power Plant
Company: Chesapeake Utilities Corporation, its divisions and subsidiaries, as appropriate in the context of the disclosure
Degree-day: A degree-day is the measure of the variation in the weather based on the extent to which the average daily temperature (from 10:00 am to 10:00 am) falls above or below 65 degrees Fahrenheit
Delmarva Peninsula: A peninsula on the east coast of the U. S. occupied by Delaware and portions of Maryland and Virginia
DFS: Dominion Field Services, Inc., a subsidiary of Dominion Energy, Inc.
Dt(s): Dekatherm(s), which is a natural gas unit of measurement that includes a standard measure for heating value
Dts/d: Dekatherms per day
Eastern Shore: Eastern Shore Natural Gas Company, a wholly-owned subsidiary of Chesapeake Utilities
Eight Flags: Eight Flags Energy, LLC, a subsidiary of Chesapeake's OnSight Services, LLC
FASB: Financial Accounting Standards Board
FERC: Federal Energy Regulatory Commission
FGT: Florida Gas Transmission Company
Flo-gas: Flo-gas Corporation, a wholly-owned subsidiary of Chesapeake Utilities
FPL: Florida Power & Light Company, an unaffiliated electric company that supplies electricity to FPU
FPU: Florida Public Utilities Company, a wholly-owned subsidiary of Chesapeake Utilities
GAAP: Generally Accepted Accounting Principles
Gas South: Gas South LLC
GRIP: Gas Reliability Infrastructure Program
Gross Margin: a non-GAAP measure defined as operating revenues less the cost of sales. The Company's cost of sales includes purchased fuel cost for natural gas, electricity and propane and the cost of labor spent on direct revenue-producing activities and excludes depreciation, amortization and accretion
Gulfstream: Gulfstream Natural Gas System, LLC, an unaffiliated pipeline network that supplies natural gas to FPU
HDD: Heating Degree Day
MetLife: MetLife Investment Advisors, an institutional debt investment management firm, with which Chesapeake Utilities has entered into a Shelf Agreement
MGP: Manufactured gas plant, which is a site where coal was previously used to manufacture gaseous fuel for industrial, commercial and residential use
MTM: Mark-to-Market (fair value accounting)



MW: Megawatt, which is a unit of measurement for electric base load power or capacity
NJRES: New Jersey Resource Energy Services Company a subsidiary of New Jersey Resources Inc.
NYL: NYL Investors LLC, an institutional debt investment management firm, with which Chesapeake Utilities has entered into a Shelf Agreement and issued Shelf Notes
Peninsula Pipeline: Peninsula Pipeline Company, Inc., a wholly-owned subsidiary of Chesapeake Utilities
Peoples Gas: Peoples Gas System division of Tampa Electric Company
PESCO: Peninsula Energy Services Company, Inc., a wholly-owned subsidiary of Chesapeake Utilities
Prudential: Prudential Investment Management Inc., an institutional investment management firm, with which Chesapeake Utilities has entered into a Shelf Agreement and issued Shelf Notes
PSC: Public Service Commission, which is the state agency that regulates utility rates and/or services in certain of our jurisdictions
Rayonier: Rayonier Performance Fibers, LLC, the company that owns the property on which Eight Flags' CHP plant is located and a customer of the steam generated by the CHP plant
Revolver: Our unsecured revolving credit facility with certain lenders
Sandpiper Energy: Sandpiper Energy, Inc., a wholly-owned subsidiary of Chesapeake Utilities
SEC: Securities and Exchange Commission
Senior Notes: Our unsecured long-term debt issued primarily to insurance companies on various dates
Sharp: Sharp Energy, Inc., a wholly-owned subsidiary of Chesapeake Utilities
Shelf Agreement: An agreement entered into by Chesapeake Utilities and a counterparty pursuant to which Chesapeake Utilities may request that the counterparty purchase our unsecured senior debt with a fixed interest rate and a maturity date not to exceed 20 years from the date of issuance
Shelf Notes: Unsecured senior promissory notes issuable under the Shelf Agreement executed with various counterparties
SICP: 2013 Stock and Incentive Compensation Plan
TCJA: Tax Cuts and Jobs Act enacted on December 22, 2017
TETLP: Texas Eastern Transmission, LP
UET: United Energy Trading, LLC
U.S.: The United States of America
Xeron: Xeron, Inc., an inactive subsidiary of Chesapeake Utilities




PART I
References in this document to “Chesapeake,” “Chesapeake Utilities,” the “Company,” “we,” “us” and “our” mean Chesapeake Utilities Corporation, its divisions and/or its wholly-owned subsidiaries, as appropriate in the context of the disclosure.
Safe Harbor for Forward-Looking Statements
We make statements in this Annual Report on Form 10-K that do not directly or exclusively relate to historical facts. Such statements are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. One can typically identify forward-looking statements by the use of forward-looking words, such as “project,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “continue,” “potential,” “forecast” or other similar words, or future or conditional verbs such as “may,” “will,” “should,” “would” or “could.” These statements represent our intentions, plans, expectations, assumptions and beliefs about future financial performance, business strategy, projected plans and objectives of the Company. Forward-looking statements speak only as of the date they are made or as of the date indicated and we do not undertake any obligation to update forward-looking statements as a result of new information, future events or otherwise. These statements are subject to many risks and uncertainties. In addition to the risk factors described under Item 1A, Risk Factors, the following important factors, among others, could cause actual future results to differ materially from those expressed in the forward-looking statements:
state and federal legislative and regulatory initiatives that affect cost and investment recovery, have an impact on rate structures, and affect the speed and the degree to which competition enters the electric and natural gas industries;
the outcomes of regulatory, environmental and legal matters, including whether pending matters are resolved within current estimates and whether the related costs are adequately covered by insurance or recoverable in rates;
the impact of climate change, including the impact of greenhouse gas emissions or other legislation or regulations intended to address climate change;
the impact of significant changes to current tax regulations and rates;
the timing of certification authorizations associated with new capital projects and the ability to construct facilities at or below estimated costs;
changes in environmental and other laws and regulations to which we are subject and environmental conditions of property that we now, or may in the future, own or operate;
possible increased federal, state and local regulation of the safety of our operations;
the inherent hazards and risks involved in transporting and distributing natural gas and electricity;
the economy in our service territories or markets, the nation, and worldwide, including the impact of economic conditions (which we do not control ) on demand for electricity, natural gas, propane or other fuels;
risks related to cyber-attacks or cyber-terrorism that could disrupt our business operations or result in failure of information technology systems or result in the loss or exposure of confidential or sensitive customer, employee or Company information;
adverse weather conditions, including the effects of hurricanes, ice storms and other damaging weather events;
customers' preferred energy sources;
industrial, commercial and residential growth or contraction in our markets or service territories;
the effect of competition on our businesses from other energy suppliers and alternative forms of energy;
the timing and extent of changes in commodity prices and interest rates;
the effect of spot, forward and future market prices on our various energy businesses;
the extent of our success in connecting natural gas and electric supplies to transmission systems, establishing and maintaining key supply sources; and expanding natural gas and electric markets;
the creditworthiness of counterparties with which we are engaged in transactions;
the capital-intensive nature of our regulated energy businesses;
our ability to access the credit and capital markets to execute our business strategy, including our ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings and general economic conditions;
the ability to successfully execute, manage and integrate a merger, acquisition or divestiture of assets or businesses and the related regulatory or other conditions associated with the merger, acquisition or divestiture;
the impact on our costs and funding obligations, under our pension and other post-retirement benefit plans, of potential downturns in the financial markets, lower discount rates, and costs associated with health care legislation and regulation;
the ability to continue to hire, train and retain appropriately qualified personnel; and
the effect of accounting pronouncements issued periodically by accounting standard-setting bodies.


Chesapeake Utilities Corporation 2019 Form 10-K Page 1


ITEM 1. Business.
Corporate Overview and Strategy
Chesapeake Utilities Corporation is a Delaware corporation formed in 1947 with operations primarily in the Mid-Atlantic region, Florida and Ohio. We are an energy delivery company engaged in the distribution of natural gas, propane and electricity; the transmission of natural gas; the generation of electricity and steam, and in providing related services to our customers.
Our strategy is to consistently produce industry leading total shareholder return by profitably investing capital into opportunities that leverage our skills and expertise in energy distribution and transmission to achieve high levels of service and growth. The key elements of our strategy include:
capital investment in growth opportunities that generate our target returns;
expanding our energy distribution and transmission operations within our existing service areas as well as into new geographic areas;
providing new services in our current service areas;
expanding our footprint in potential growth markets through strategic acquisitions that complement our businesses;
entering new energy markets and businesses that complement our existing operations and growth strategy; and
operating as a customer-centric full-service energy supplier/partner/provider, while providing safe and reliable service.
Our employees strive to build meaningful connections that generate opportunities to grow our businesses, develop new markets, and enrich the communities in which we live, work and serve.
Operating Segments
We operate within two reportable segments: Regulated Energy and Unregulated Energy. The remainder of our operations is presented as “Other businesses and eliminations." These segments are described below in detail.    

Regulated Energy
Our regulated energy businesses are comprised of natural gas and electric distribution as well as natural gas transmission services. The following table presents net income for the year ended December 31, 2019 and total assets as of December 31, 2019, for our Regulated Energy segment by operation and area served:
 
 
 
 
 
 
 
Operations
 
Areas Served
 
Net Income
 
Total Assets
(in thousands)
 
 
 
 
 
 
Natural Gas Distribution
 
 
 
 
 
 
Delmarva Natural Gas (Delaware division, Maryland division and Sandpiper Energy)
 
Delaware/Maryland
 
$
9,873

 
$
280,002

Central Florida Gas and FPU
 
Florida
 
13,721

 
420,483

Natural Gas Transmission
 
 
 
 
 
 
Eastern Shore
 
Delaware/Maryland/
Pennsylvania
 
17,965

 
447,041

  Peninsula Pipeline
 
Florida
 
5,571

 
115,685

 
 
 
 
 
 
 
Electric Distribution
 
 
 
 
 
 
FPU
 
Florida
 
640

 
170,855

Total Regulated Energy
 
 
 
$
47,770

 
$
1,434,066

Revenues in this operating segment are based on rates regulated by the PSC in the states in which we operate or, in the case of Eastern Shore, which is an interstate business, by the FERC. The rates are designed to generate revenues to recover all prudent operating and financing costs and provide a reasonable return for our stockholders. Each of our distribution and transmission operations has a rate base, which generally consists of the original cost of the operation's plant, less accumulated depreciation, working capital and other assets. For Delmarva Natural Gas and Eastern Shore, rate base also includes deferred income tax liabilities and other additions or deductions. Our Regulated Energy operations in Florida do not include deferred income tax liabilities in their rate base.

Chesapeake Utilities Corporation 2019 Form 10-K Page 2


Our natural gas and electric distribution operations bill customers at standard rates approved by their respective state PSC. Each state PSC allows us to negotiate rates, based on approved methodologies, for large customers that can switch to other fuels. Some of our customers in Maryland receive propane through our underground distribution system in Worcester County, which we are in the process of converting to natural gas. We bill these customers under PSC-approved rates and include them in the natural gas distribution results and customer statistics.
Our natural gas and electric distribution operations earn profits on the delivery of natural gas or electricity to customers. The cost of natural gas or electricity that we deliver is passed through to customers under PSC-approved fuel cost recovery mechanisms. The mechanisms allow us to adjust our rates on an ongoing basis without filing a rate case to recover changes in the cost of the natural gas and electricity that we purchase for customers. Therefore, while our distribution operating revenues fluctuate with the cost of natural gas or electricity we purchase, our distribution margin (which we define as operating revenues less purchased gas or electric cost) is generally not impacted by fluctuations in the cost of natural gas or electricity.
Our natural gas transmission operations bill customers under rate schedules approved by the FERC or at rates negotiated with customers.
Operational Highlights
The following table presents operating revenues, volumes and the average number of customers by customer class for our natural gas and electric distribution operations for the year ended December 31, 2019:
 
 
 
 
 
 
Delmarva
Natural Gas Distribution
 
Florida
Natural Gas Distribution (2)
 
FPU
Electric
Distribution
Operating Revenues (in thousands)
 
 
 
 
 
 
 
 
 
  Residential
 
$
62,708

60
%
 
$
38,248

34
%
 
$
45,738

59
 %
  Commercial
 
33,070

32
%
 
33,126

30
%
 
38,254

49
 %
  Industrial
 
8,314

8
%
 
37,202

34
%
 
2,128

3
 %
  Other (1)
 
152

<1%

 
2,327

2
%
 
(8,704
)
(11
)%
Total Operating Revenues
 
$
104,244

100
%
 
110,903

100
%
 
$
77,416

100
 %
 
 
 
 
 
 
 
 
 
 
Volumes (in Dts for natural gas/KW Hours for electric)
 
 
 
 
 
 
 
 
 
  Residential
 
3,871,032

29
%
 
1,744,486

4
%
 
306,445

47
 %
  Commercial
 
3,776,388

29
%
 
6,190,350

14
%
 
310,856

49
 %
  Industrial
 
5,358,474

40
%
 
32,736,870

76
%
 
27,929

4
 %
  Other
 
220,541

2
%
 
2,574,925

6
%
 

 %
Total Volumes
 
13,226,435

100
%
 
43,246,631

100
%
 
645,230

100
 %
 
 
 
 
 
 
 
 
 
 
Average Number of Customers (3)
 
 
 
 
 
 
 
 
 
  Residential
 
73,995

91
%
 
74,915

90
%
 
24,573

77
 %
  Commercial
 
7,097

9
%
 
5,478

7
%
 
7,243

23
 %
  Industrial
 
169

<1%

 
2,453

3
%
 
2

<1%

  Other
 
15

<1%

 
12

<1%

 

 %
Total Average Number of Customers
 
81,276

100
%
 
82,858

100
%
 
31,818

100
 %
(1) Operating Revenues from "Other" sources include revenue, unbilled revenue, under (over) recoveries of fuel cost, conservation revenue, other miscellaneous charges, fees for billing services provided to third parties, and adjustments for pass-through taxes.
(2) Florida natural gas distribution includes Chesapeake Utilities' Central Florida Gas division, FPU and FPU's Indiantown and Fort Meade divisions.
(3) Average number of customers is based on the twelve-month average for the year ended December 31, 2019.


Chesapeake Utilities Corporation 2019 Form 10-K     Page 3


The following table presents operating revenues, by customer type, for Eastern Shore and Peninsula Pipeline for the year ended December 31, 2019, as well as contracted firm transportation capacity by customer type, and design day capacity at December 31, 2019:
 
Eastern Shore
 
Peninsula Pipeline
Operating Revenues (in thousands)
 
 
 
 
 
Local distribution companies - affiliated (1)
$
24,709

33
%
 
$
14,003

85
%
Local distribution companies - non-affiliated
25,171

35
%
 
840

5
%
Commercial and industrial - affiliated

%
 
1,120

7
%
Commercial and industrial - non-affiliated
22,527

31
%
 
490

3
%
Other (2)
516

1
%
 

%
Total Operating Revenues
$
72,923

100
%
 
$
16,453

100
%
 
 
 
 
 
 
Contracted firm transportation capacity (in Dts/d)
 
 
 
 
 
Local distribution companies - affiliated
125,152

42
%
 
243,500

95
%
Local distribution companies - non-affiliated
76,619

26
%
 
4,825

2
%
Commercial and industrial - affiliated

%
 
1,500

1
%
Commercial and industrial - non-affiliated
96,348

32
%
 
5,100

2
%
Total Contracted firm transportation capacity
298,119

100
%
 
254,925

100
%
 
 
 
 
 
 
Design day capacity (in Dts/d)
298,119

100
%
 
254,925

100
%
(1) Eastern Shore's and Peninsula Pipeline's service to our local distribution affiliates is based on the respective regulator's approved rates and is an integral component of the cost associated with providing natural gas supplies for those affiliates. We eliminate operating revenues of these entities against the cost of sales of those affiliates in our consolidated financial information; however, our local distribution affiliates include this amount in their purchased fuel cost and recover it through fuel cost recovery mechanisms.
(2) Operating revenues from "Other" sources are from the rental of gas properties
Regulatory Overview
The following table highlights key regulatory information for each of our principal Regulated Energy operations. Peninsula Pipeline is not regulated with regard to cost of service by either the Florida PSC or FERC and is therefore excluded from the table. The table reflects rate increases and rates of return approved prior to the enactment of the TCJA on December 22, 2017. See Item 8, Financial Statements and Supplementary Data (Note 19, Rates and Other Regulatory Activities and Note 12, Income Taxes in the consolidated financial statements) for further discussion on the impact of this legislation on our regulated businesses.
 
Natural Gas Distribution
 
 
 
Delmarva
Florida
Electric Distribution
Natural Gas Transmission
Operation/Division
Delaware
Maryland
Sandpiper
Chesapeake's Florida natural gas division
FPU
FPU
Eastern Shore
Regulatory Agency
Delaware PSC
Maryland PSC
Maryland PSC
Florida PSC
Florida PSC
Florida PSC
FERC
Effective date - Last Rate Order
01/01/2017
12/1/2007
12/01/2019
01/14/2010
01/14/2010(1)
01/03/2018
08/01/2017
Rate Base (in Rates)
Not stated
Not stated
Not stated
$46,680,000
$68,940,000
$11,850,000
Not stated
Annual Rate Increase Approved
$2,250,000
$648,000
N/A(2)
$2,540,000
$7,970,000
$1,560,000
$9,800,000
Capital Structure (in rates)(3)*
Not stated
LTD: 42.00% STD: 5.00% Equity: 53.00%
Not stated
LTD: 30.63% STD: 6.26% Equity: 43.49% Other: 19.62%
LTD: 30.75% Equity: 46.67% Other: 22.58%
LTD: 21.91% STD: 23.50% Equity: 54.59%
Not stated
Allowed Return on Equity
9.75% (4)
10.75%(4)
Not Stated (5)
10.80%(4)
10.85%(4)
10.25%(4), (6)
Not Stated
TJCA Refund Status associated with customer rates
Refunded
Refunded
Refunded
Retained
Retained
Refunded
Refunded
(1) The effective date of the order approving the settlement agreement, which adjusted the rates originally approved on June 4, 2009.
(2) The Maryland PSC approved a declining return on equity that will result in a decline in our rates.
(3) Other components of capital structure include customer deposits, deferred income taxes and tax credits.
(4) Allowed after-tax return on equity.

Chesapeake Utilities Corporation 2019 Form 10-K Page 4


(5) The terms of the agreement include revenue neutral rates for the first year (December 1, 2016 through November 30, 2017), followed by a schedule of rate reductions in subsequent years based upon the projected rate of propane to natural gas conversions.
(6) The terms of the settlement agreement for the FPU electric division limited proceeding with the Florida PSC prescribed an authorized return on equity range of 9.25 to 11.25 percent, with a mid-point of 10.25 percent. The FPU electric division could not file for a base rate increase prior to December 2019, unless its allowed return on equity was below the authorized range and it experienced an unanticipated and unforeseen event that impacted the annual revenue requirement in excess of $800,000 within any contiguous four-month period.
* LTD-Long-term debt; STD-Short-term debt.
In October 2018, Hurricane Michael passed through FPU’s electric distribution service territory in Northwest Florida. The hurricane caused widespread and severe damage to FPU’s infrastructure resulting in 100 percent of its customers in the service territory losing electrical service. FPU expended more than $65.0 million to restore service, which has been recorded as new plant and equipment, charged against FPU’s accumulated depreciation or charged against FPU’s storm reserve. While there is a short-term negative impact, the storm is not expected to have a significant impact on our financial results going forward, assuming permanent recovery is granted through the regulatory process.
In August 2019, FPU filed a limited proceeding requesting recovery of storm-related costs associated with Hurricane Michael (capital and expenses) through a change in base rates. FPU also requested treatment and recovery of certain storm-related costs as a regulatory asset for items currently not allowed to be recovered through the storm reserve as well as the recovery of capital replaced as a result of the storm. Recovery of these costs includes a component of an overall return on capital additions and regulatory assets. In the fourth quarter of 2019, FPU along with the Office of Public Counsel in Florida, filed a joint motion with the Florida PSC to approve an interim rate increase, subject to refund, pending the final ruling on the recovery of the restoration costs incurred. The petition was approved by the Florida PSC on November 5, 2019 and interim rate increases became effective January 2, 2020. FPU continues to work with the Florida PSC and expects to reach a final ruling in the second half of 2020. See Item 8, Financial Statements and Supplementary Data (Note 19, Rates and Other Regulatory Activities in the consolidated financial statements) for further information.
The following table presents surcharge and other mechanisms that have been approved by the respective PSC for our regulated energy distribution businesses. These include Delaware’s surcharge to expand natural gas service in eastern Sussex County; Maryland's surcharge to fund natural gas conversions and system improvement in Worcester County; Florida’s GRIP surcharge which provides accelerated recovery of the costs of replacing older portions of the natural gas distribution system to improve safety and reliability and the Florida electric distribution operation's limited proceeding.
Operation(s)/Division(s)
 
Jurisdiction
 
Infrastructure mechanism
 
Revenue normalization
Delaware division
 
Delaware
 
Yes
 
No
Maryland division
 
Maryland
 
No
 
Yes
Sandpiper Energy
 
Maryland
 
Yes
 
Yes
FPU and Central Florida Gas natural gas divisions
 
Florida
 
Yes
 
No
FPU electric division
 
Florida
 
Yes
 
No
Weather
Weather variations directly influence the volume of natural gas and electricity sold and delivered to residential and commercial customers for heating and cooling and changes in volumes delivered impact the revenue generated from these customers. Natural gas volumes are highest during the winter months, when residential and commercial customers use more natural gas for heating. Demand for electricity is highest during the summer months, when more electricity is used for cooling. We measure the relative impact of weather using degree-days. A degree-day is the measure of the variation in the weather based on the extent to which the average daily temperature falls above or below 65 degrees Fahrenheit. Each degree of temperature below 65 degrees Fahrenheit is counted as one heating degree-day, and each degree of temperature above 65 degrees Fahrenheit is counted as one cooling degree-day. Normal heating and cooling degree-days are based on the most recent 10-year average.
Competition
Natural Gas Distribution
While our natural gas distribution operations do not compete directly with other distributors of natural gas for residential and commercial customers in our service areas, we do compete with other natural gas suppliers and alternative fuel providers for sales to industrial customers. Large customers could bypass our natural gas distribution systems and connect directly to interstate transmission pipelines, and we compete in all aspects of our natural gas business with alternative energy sources, including electricity, oil, propane and renewables. The most effective means to compete against alternative fuels are lower prices, superior reliability and flexibility of service. Natural gas historically has maintained a price advantage in the residential, commercial

Chesapeake Utilities Corporation 2019 Form 10-K     Page 5


and industrial markets, and reliability of natural gas supply and service has been excellent. In addition, we provide flexible pricing to our large customers to minimize fuel switching and protect these volumes and their contributions to the profitability of our natural gas distribution operations.
Natural Gas Transmission
Our natural gas transmission business competes with other pipeline companies to provide service to large industrial, generation and distribution customers, primarily in the northern portion of Delmarva Peninsula and in Florida.
Electric Distribution
While our electric distribution operations do not compete directly with other distributors of electricity for residential and commercial customers in our service areas, we do compete with other electricity suppliers and alternative fuel providers for sales to industrial customers. Some of our large industrial customers may be capable of generating their own electricity, and we structure rates, flexibility and service offerings to retain these customers in order to retain their business and contributions to the profitability of our electric distribution operations.
Supplies, Transmission and Storage
Natural Gas Distribution
Our natural gas distribution operations purchase natural gas from marketers and producers and maintain contracts for transportation and storage with several interstate pipeline companies to meet projected customer demand requirements. We believe that our supply and capacity strategy will adequately meet our customers’ needs over the next several years.
The Delmarva natural gas distribution systems are directly connected to Eastern Shore’s pipeline, which has connections to the other pipelines that provide us with transportation and storage. These operations can also use propane-air and liquefied natural gas peak-shaving equipment to serve customers. Our Delmarva Peninsula natural gas distribution operations had asset management agreements with PESCO to manage their natural gas transportation and storage capacity. The agreements were effective as of April 1, 2017, and each has a three-year term, expiring on March 31, 2020. As a result of the sale of PESCO's assets and contracts, effective October 1, 2019, these agreements are now managed by NJRES. Our Delmarva operations receive a fee, which we share with our customers, from the asset manager, who optimizes the transportation, storage and natural gas supply for these operations.
Our Florida natural gas distribution operation uses Peninsula Pipeline and the Peoples Gas System division of Tampa Electric Company ("Peoples Gas") to transport natural gas where there is no direct connection with FGT. In May 2019, FPU natural gas distribution and Eight Flags entered into separate asset management agreements with Emera Energy Services, Inc. to manage their natural gas transportation capacity. Short-term agreements were entered for a one year term beginning July 2019 through July 2020 with the expectation that long-term agreements will then be executed for a 10-year term commencing on or about July 2020.
A summary of our pipeline capacity contracts follows:
 
 
 
 
Maximum Daily Firm Transportation Capacity (Dts)
 
Contract Expiration Date
Division
 
Pipeline
 
 
Delmarva Natural Gas Distribution
 
Eastern Shore
 
125,152
 
2020-2028
 
 
Columbia Gas(1)
 
15,160
 
2020-2024
 
 
Transco(1)
 
27,732
 
2019-2028
 
 
TETLP(1)
 
50,000
 
2027
 
 
 
 
 
 
 
Florida Natural Gas Distribution
 
Gulfstream(2)
 
10,000
 
2022
 
 
FGT
 
53,409 - 84,817
 
2020-2041
 
 
Peninsula Pipeline
 
237,500
 
2033-2048
 
 
Peoples Gas
 
2,660
 
2024-2035
 
 
Florida Southeast Connection
 
5,000
 
2045
 
 
Southern Natural Gas Company
 
5,000
 
2020
(1) Transcontinental Gas Pipe Line Company, LLC ("Transco"), Columbia Gas Transmission, LLC ("Columbia Gas") and Texas Eastern Transmission, LP ("TETLP") are interstate pipelines interconnected with Eastern Shore's pipeline

Chesapeake Utilities Corporation 2019 Form 10-K Page 6


(2) Pursuant to a capacity release program approved by the Florida PSC, all of the capacity under this agreement has been released to various third parties. Under the terms of these capacity release agreements, Chesapeake Utilities is contingently liable to Gulfstream should any party, that acquired the capacity through release, fail to pay the capacity charge.
Eastern Shore has three agreements with Transco for a total of 7,292 Dts/d of firm daily storage injection and withdrawal entitlements and total storage capacity of 288,003 Dts. These agreements expire in March 2023. Eastern Shore retains these firm storage services in order to provide swing transportation service and firm storage service to customers requesting such services.
Electric Distribution
Our Florida electric distribution operation purchases wholesale electricity under the power supply contracts summarized below:
Counterparty
Area Served by Contract
Contracted Amount (MW)
Contract Expiration Date
Gulf Power Company
Northwest Florida
Full Requirement*
2026
FPL
Northeast Florida
Full Requirement*
2026
Eight Flags
Northeast Florida
21
2036
Rayonier
Northeast Florida
1.7 to 3.0
2036
WestRock Company
Northwest Florida
As-available
N/A
*The counter party is obligated to provide us with the electricity to meet our customers’ demand, which may vary.
Unregulated Energy
In the third and fourth quarter of 2019, we reached agreements with four entities to sell PESCO's assets and contracts. These transactions closed during the fourth quarter of 2019. As a result of the sale, we have fully exited the natural gas marketing business, which provided natural gas management and supply services to commercial and industrial customers in Florida, Delaware, Maryland, Pennsylvania, Ohio and other states. Accordingly, PESCO’s historical financial results are reflected in our consolidated financial statements as discontinued operations, which required retrospective application to financial information for all periods presented. See Item 8, Financial Statements and Supplementary Data (Note 4, Acquisitions and Divestitures in the consolidated financial statements) for further information. The following table presents net income for the year ended December 31, 2019 and total assets as of December 31, 2019, for our Unregulated Energy segment by operation and area served:
Operations
 
Area Served
 
Net Income
 
Total Assets
(in thousands)
 
 
 
 
 
 
Propane Operations (Sharp, FPU and Flo-gas)
 
Delaware, Maryland, Virginia,
Pennsylvania, Florida
 
$
6,297

 
$
134,791

Energy Transmission (Aspire Energy)
 
Ohio
 
3,822

 
94,124

Energy Generation (Eight Flags)
 
Florida
 
1,908

 
38,569

Marlin Gas Services
 
The Eastern U.S.
 
986

 
27,269

Other
 
Other
 
382

 
171

Total
 
 
 
$
13,395

 
$
294,924

Propane Operations
Our propane operations sell propane to residential, commercial/industrial, wholesale and AutoGas customers, in the Mid-Atlantic region, through Sharp Energy, Inc. and Sharpgas, Inc., and in Florida through FPU and Flo-gas. We deliver to and bill our propane customers based on two primary customer types: bulk delivery customers and metered customers. Bulk delivery customers receive deliveries into tanks at their location. We invoice and record revenues for these customers at the time of delivery. Metered customers are either part of an underground propane distribution system or have a meter installed on the tank at their location. We invoice and recognize revenue for these customers based on their consumption as dictated by scheduled meter reads. As a member of AutoGas Alliance, we install and support propane vehicle conversion systems for vehicle fleets and provide on-site fueling infrastructure.

Chesapeake Utilities Corporation 2019 Form 10-K     Page 7


Propane Operations - Operational Highlights
For the year ended December 31, 2019, operating revenues, volumes sold and average number of customers by customer class for our Mid-Atlantic and Florida propane operations were as follows:
 
 
Operating Revenues (in thousands)
 
Volumes (in thousands of gallons)
 
Average Number of Customers (1)
 
 
Mid-Atlantic
 
Florida
 
Mid-Atlantic
 
Florida
 
Mid-Atlantic (2)
 
Florida
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Residential bulk
 
$
26,190

 
30
%
 
$
6,639

 
34
%
 
10,491

 
18
%
 
1,489

 
23
%
 
27,729

 
67
%
 
10,416

 
60
%
  Residential metered
 
9,407

 
11
%
 
4,852

 
25
%
 
4,146

 
7
%
 
818

 
13
%
 
9,863

 
23
%
 
5,922

 
34
%
  Commercial bulk
 
20,079

 
23
%
 
4,506

 
23
%
 
13,979

 
24
%
 
2,372

 
36
%
 
4,418

 
10
%
 
934

 
5
%
  Commercial metered
 

 
%
 
1,971

 
10
%
 

 
%
 
814

 
13
%
 

 
%
 
271

 
1
%
  Wholesale
 
21,154

 
24
%
 
862

 
4
%
 
25,629

 
44
%
 
983

 
15
%
 
26

 
<1%

 
6

 
<1%

  AutoGas
 
4,806

 
6
%
 

 
%
 
3,895

 
7
%
 

 
%
 
86

 
<1%

 

 
%
  Other (3)
 
6,822

 
6
%
 
676

 
4
%
 

 
%
 

 
%
 

 
%
 

 
%
Total
 
$
88,458

 
100
%
 
$
19,506

 
100
%
 
58,140

 
100
%
 
6,476

 
100
%
 
42,122

 
100
%
 
17,549

 
100
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Average number of customers is based on a twelve-month average for the year ended December 31, 2019.
(2) Average numbers of customers for the Mid-Atlantic propane operations includes approximately 5,200 customers added in December 2019 in the acquisition of certain propane operating assets of Boulden. See Item 8, Financial Statements and Supplementary Data (Note 4, Acquisitions and Divestitures in the consolidated financial statements) for further information.
(3) Operating revenues from "Other" sources include revenues from customer loyalty programs; delivery, service and appliance fees; and unbilled revenues.
Competition
Our propane operations compete with national and local independent companies primarily on the basis of price and service. Propane is generally a cheaper fuel for home heating than oil and electricity but more expensive than natural gas. Our propane operations are largely concentrated in areas that are not currently served by natural gas distribution systems.
Supplies, Transportation and Storage
We purchase propane from major oil companies and independent natural gas liquids producers. Propane is transported by truck and rail to our bulk storage facilities in Delaware, Maryland, Florida, Pennsylvania and Virginia, which have a total storage capacity of 7.4 million gallons. Deliveries are made from these facilities by truck to tanks located on customers’ premises or to central storage tanks that feed our underground propane distribution systems. While propane supply has traditionally been adequate, significant fluctuations in weather, closing of refineries and disruption in supply chains, could cause temporary reductions in available supplies.
Weather
Propane revenues are affected by seasonal variations in temperature and weather conditions, which directly influence the volume of propane used by our customers. Our propane revenues are typically highest during the winter months when propane is used for heating. Sustained warmer-than-normal temperatures will tend to reduce propane use, while sustained colder-than-normal temperatures will tend to increase consumption.
Unregulated Energy Transmission and Supply (Aspire Energy)
Aspire Energy owns approximately 2,700 miles of natural gas pipeline systems in 40 counties in Ohio. The majority of Aspire Energy’s revenues are derived from long-term supply agreements with Columbia Gas of Ohio and Consumers Gas Cooperative ("CGC"), which together serve more than 21,000 end-use customers. Aspire Energy purchases natural gas to serve these customers from conventional producers in the Marcellus and Utica natural gas production areas. In addition, Aspire Energy earns revenue by gathering and processing natural gas for customers.

Chesapeake Utilities Corporation 2019 Form 10-K Page 8


For the twelve-month period ended December 31, 2019, Aspire Energy's operating revenues and deliveries by customer type were as follows: