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Chesapeake Utilities Corporation (CPK): Modelo de negócios Canvas [Jan-2025 Atualizado] |
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Chesapeake Utilities Corporation (CPK) Bundle
Mergulhe no intrincado mundo da Chesapeake Utilities Corporation (CPK), uma potência energética dinâmica que transforma os serviços de utilidade tradicionais por meio de estratégias inovadoras e abordagens centradas no cliente. Essa tela abrangente do modelo de negócios revela como o CPK navega com paisagens energéticas complexas, equilibrando mercados regulamentados, soluções sustentáveis e desenvolvimento de infraestrutura de ponta em vários estados. Da distribuição de gás natural a projetos de energia renovável, o modelo de negócios multifacetado da empresa demonstra uma capacidade notável de se adaptar, inovar e fornecer serviços de energia confiáveis que atendem às necessidades em evolução dos clientes residenciais, comerciais e industriais.
CHesapeake Utilities Corporation (CPK) - Modelo de negócios: Parcerias -chave
Parcerias de distribuição de gás natural e propano com serviços públicos regionais
A Chesapeake Utilities Corporation mantém parcerias estratégicas com vários provedores de serviços públicos regionais em seus territórios de serviço.
| Utilitário de parceiros | Região | Foco em parceria |
|---|---|---|
| Utilitários públicos da Flórida | Flórida | Distribuição de gás natural |
| Delmarva Power | Delaware/Maryland | Infraestrutura energética |
Alianças estratégicas com provedores de infraestrutura de energia
A corporação colabora com empresas especializadas em infraestrutura de energia para aprimorar as capacidades operacionais.
- Boardwalk Pipeline Partners
- Corporação de linha de tubos de gás transcontinental
- Transmissão de gás Columbia
Colaborações regulatórias com comissões estaduais de serviço público
A Chesapeake Utilities mantém parcerias regulatórias ativas em vários estados.
| Comissão de Serviço Público do Estado | Engajamento regulatório |
|---|---|
| Comissão de Serviço Público de Delaware | Taxa de procedimentos de casos |
| Comissão de Serviço Público da Flórida | Aprovações de infraestrutura |
Fornecedores de tecnologia para infraestrutura e transformação digital
A corporação faz parceria com os provedores de tecnologia para modernizar a infraestrutura e os sistemas digitais.
- Schneider Electric
- Siemens Energy
- Oracle Utilities
Empresas de consultoria ambiental e de sustentabilidade
Os utilitários da Chesapeake se envolvem com organizações especializadas de consultoria ambiental.
| Empresa de consultoria | Foco de sustentabilidade |
|---|---|
| Gerenciamento de Recursos Ambientais (ERM) | Estratégias de redução de carbono |
| ICF International | Planejamento de adaptação climática |
Chesapeake Utilities Corporation (CPK) - Modelo de negócios: Atividades -chave
Serviços de distribuição de gás natural e propano
A Chesapeake Utilities Corporation distribui gás natural e propano em vários estados, atendendo a aproximadamente 261.000 clientes em 2022.
| Tipo de serviço | Base de clientes | Área de serviço |
|---|---|---|
| Distribuição de gás natural | 219.000 clientes | Delaware, Maryland, Flórida |
| Distribuição de propano | 42.000 clientes | Vários estados |
Desenvolvimento e manutenção da infraestrutura energética
A empresa investiu US $ 220,3 milhões em desenvolvimento e manutenção de infraestrutura em 2022.
- Expansão da infraestrutura de pipeline
- Atualizações da estação de compressão
- Medidor e substituição da linha de transmissão
Serviços de construção e engenharia de serviços públicos
A subsidiária da Chesapeake Utilities Sharp Energy fornece serviços de construção e engenharia com receitas anuais de US $ 87,4 milhões em 2022.
| Categoria de serviço | Receita |
|---|---|
| Construção de utilidades | US $ 52,6 milhões |
| Serviços de Engenharia | US $ 34,8 milhões |
Operações de mercado de energia regulamentadas e não regulamentadas
A Companhia opera em mercados de energia regulamentados e não regulamentados, com receitas operacionais totais de US $ 687,2 milhões em 2022.
- Serviços de serviços públicos regulamentados em Delaware, Maryland, Flórida
- Propano não regulamentado e marketing de gás natural
- Serviços de infraestrutura energética do meio -fluxo
Desenvolvimento de projetos de energia renovável e sustentabilidade
A Chesapeake Utilities cometeu US $ 45,6 milhões a projetos de energia e sustentabilidade renováveis em 2022.
| Iniciativa de Energia Renovável | Investimento |
|---|---|
| Projetos de energia solar | US $ 22,3 milhões |
| Desenvolvimento de gás natural renovável | US $ 23,3 milhões |
Chesapeake Utilities Corporation (CPK) - Modelo de negócios: Recursos -chave
Rede extensa de distribuição de gás natural e propano
A partir de 2023, a Chesapeake Utilities Corporation opera em vários estados com a seguinte infraestrutura de distribuição:
| Área de serviço | Conexões de gás natural | Pontos de serviço de propano |
|---|---|---|
| Flórida | 47,700 | 12,500 |
| Delaware | 38,200 | 8,900 |
| Maryland | 35,600 | 6,700 |
Engenharia qualificada e força de trabalho técnica
Composição total da força de trabalho a partir de 2023:
- Total de funcionários: 1.372
- Equipe de engenharia: 287
- Pessoal de Operações Técnicas: 423
- Anos médios de experiência: 14,6 anos
Infraestrutura de utilidade avançada e sistemas de tecnologia
Investimentos de infraestrutura de tecnologia em 2023:
| Categoria de tecnologia | Valor do investimento |
|---|---|
| Sistemas SCADA | US $ 4,2 milhões |
| Infraestrutura de segurança cibernética | US $ 3,7 milhões |
| Tecnologias de leitura do medidor | US $ 2,5 milhões |
Experiência de conformidade regulatória de longa data
Métricas de conformidade regulatória:
- Agências regulatórias envolvidas: 12
- Taxa de sucesso da auditoria de conformidade: 99,8%
- Tamanho da equipe jurídica regulatória: 17 profissionais
Capital financeiro para investimentos em infraestrutura
Recursos Financeiros a partir do quarto trimestre 2023:
| Métrica financeira | Valor |
|---|---|
| Total de ativos | US $ 1,42 bilhão |
| Orçamento de investimento em infraestrutura | US $ 187,6 milhões |
| Linhas de crédito disponíveis | US $ 250 milhões |
Chesapeake Utilities Corporation (CPK) - Modelo de negócios: proposições de valor
Serviços confiáveis de distribuição de energia em vários estados
A Chesapeake Utilities atende clientes em 6 estados: Delaware, Flórida, Maryland, Ohio, Pensilvânia e Carolina do Sul. A partir de 2022, a empresa entregou:
| Tipo de energia | Volume anual de distribuição |
|---|---|
| Gás natural | 57,5 bilhões de pés cúbicos |
| Propano | 42,3 milhões de galões |
Compromisso com soluções de energia sustentável e limpa
Os investimentos em sustentabilidade da empresa incluem:
- US $ 23,4 milhões investidos em infraestrutura de energia renovável
- Emissões de carbono reduzidas em 15,2% em 2022
- Implementou 7 projetos de energia solar em territórios de serviço
Portfólio de energia diversificado que abrange gás natural e propano
| Segmento de energia | 2022 Receita | Base de clientes |
|---|---|---|
| Distribuição de gás natural | US $ 384,6 milhões | 135.600 clientes |
| Distribuição de propano | US $ 142,3 milhões | 48.200 clientes |
Preços competitivos e qualidade de serviço consistente
Taxas médias em comparação aos concorrentes regionais:
- Gás natural: 12% menor que a média do estado
- Propano: 8% mais competitivo
- Confiabilidade do serviço: 99,97% de tempo de atividade
Soluções de energia focadas na comunidade local
| Investimento comunitário | 2022 Figuras |
|---|---|
| Impacto econômico local | US $ 47,2 milhões |
| Subsídios de desenvolvimento comunitário | US $ 1,6 milhão |
| Criação de empregos local | 386 novos empregos |
Chesapeake Utilities Corporation (CPK) - Modelo de negócios: Relacionamentos do cliente
Contratos de serviço de longo prazo com clientes comerciais e residenciais
A partir de 2023, a Chesapeake Utilities Corporation mantém aproximadamente 143.000 conexões de clientes em vários estados.
| Segmento de clientes | Número de conexões | Duração média do contrato |
|---|---|---|
| Clientes residenciais | 122,500 | 3-5 anos |
| Clientes comerciais | 20,500 | 5-10 anos |
Apoio ao cliente personalizado e serviços de consultoria de energia
A Chesapeake Utilities fornece canais de suporte ao cliente dedicados com um tempo médio de resposta de 12 minutos.
- 24/7 de suporte ao cliente
- Suporte de bate -papo online
- Serviços de consulta por e -mail
- Consulta de eficiência energética
Plataformas digitais para gerenciamento de contas e cobrança
Estatísticas de uso da plataforma digital para 2023:
| Serviço digital | Porcentagem de usuários |
|---|---|
| Pagamento on -line | 78% |
| Usuários de aplicativos móveis | 62% |
| Cobrança sem papel | 55% |
Programas de envolvimento da comunidade e educação de clientes
Investimento anual em educação de clientes: US $ 1,2 milhão
- Oficinas de conservação de energia
- Programas de educação escolar
- Iniciativas de sustentabilidade da comunidade
Canais de atendimento ao cliente responsivos
Métricas de satisfação do cliente para 2023:
| Canal de serviço | Taxa de satisfação do cliente |
|---|---|
| Suporte telefônico | 89% |
| Suporte online | 85% |
| Apoio pessoal | 92% |
Chesapeake Utilities Corporation (CPK) - Modelo de negócios: canais
Equipes de vendas diretas para clientes comerciais e industriais
A Chesapeake Utilities Corporation mantém uma equipe de vendas direta dedicada direcionada a clientes comerciais e industriais em vários territórios de serviço. A partir de 2022, os relatórios financeiros, a empresa atendeu aproximadamente 51.200 clientes de gás natural e 84.000 clientes elétricos.
| Métrica do canal de vendas | 2022 dados |
|---|---|
| Clientes comerciais de gás natural | 14,800 |
| Clientes industriais de gás natural | 3,600 |
| Área de cobertura da equipe de vendas | Delaware, Flórida, Maryland, Ohio |
Portais de atendimento ao cliente online
A empresa fornece plataformas digitais abrangentes para gerenciamento de contas e interações de serviços de clientes.
- Web Portal lançado em 2018
- Apresenta informações de cobrança em tempo real
- Recursos de processamento de pagamento online
Escritórios de serviços públicos locais e centros de clientes
A Chesapeake Utilities opera locais de atendimento ao cliente físico em seus territórios de serviço.
| Tipo de localização do serviço | Número de locais |
|---|---|
| Centros de atendimento ao cliente | 12 |
| Escritórios regionais | 7 |
Aplicativos móveis para gerenciamento de contas
A empresa oferece serviços de aplicativos móveis para interações da conta do cliente.
- Aplicativo móvel lançado em 2020
- Disponível em plataformas iOS e Android
- Mais de 35.000 usuários mensais ativos a partir de 2022
Plataformas de suporte de clientes telefônicas e digitais
A Chesapeake Utilities oferece opções de suporte ao cliente multicanal.
| Canal de suporte | Métrica de desempenho anual |
|---|---|
| Linhas telefônicas de suporte ao cliente | Disponibilidade 24/7 |
| Tempo médio de resposta | Abaixo de 3 minutos |
| Canais de suporte digital | E -mail, bate -papo, mídia social |
Chesapeake Utilities Corporation (CPK) - Modelo de negócios: segmentos de clientes
Consumidores de energia residencial
A partir de 2023, a Chesapeake Utilities atende a aproximadamente 54.000 clientes residenciais de gás natural em vários estados, incluindo Delaware, Flórida e Maryland.
| Estado | Clientes residenciais | Consumo médio anual (MCF) |
|---|---|---|
| Delaware | 22,500 | 70 |
| Flórida | 18,000 | 85 |
| Maryland | 13,500 | 65 |
Empresas comerciais e industriais
Em 2023, a Chesapeake Utilities atendeu 8.300 clientes comerciais e industriais de gás natural com diversos requisitos de energia.
- Total de clientes comerciais: 6.200
- Total de clientes industriais: 2.100
- Consumo anual médio: 500 mcf por cliente
Organizações municipais e governamentais
A Chesapeake Utilities fornece serviços de energia a 350 entidades municipais e governamentais em seus territórios de serviço.
| Tipo de organização | Número de clientes | Gasto anual de energia |
|---|---|---|
| Municípios | 250 | US $ 4,5 milhões |
| Agências governamentais | 100 | US $ 2,1 milhões |
Usuários de energia do setor agrícola
A Chesapeake Utilities suporta 475 clientes agrícolas com soluções de energia especializadas.
- Fazendas: 350 clientes
- Instalações de processamento agrícola: 125 clientes
- Consumo médio anual de gás natural: 250 MCF
Desenvolvedores de projetos de energia renovável
A partir de 2023, a Chesapeake Utilities possui parcerias com 45 desenvolvedores de projetos de energia renovável.
| Tipo de energia renovável | Número de projetos | Investimento total |
|---|---|---|
| Solar | 28 | US $ 62,3 milhões |
| Vento | 12 | US $ 41,7 milhões |
| Biomassa | 5 | US $ 15,6 milhões |
Chesapeake Utilities Corporation (CPK) - Modelo de negócios: estrutura de custos
Despesas de manutenção e desenvolvimento de infraestrutura
Para o ano fiscal de 2022, a Chesapeake Utilities Corporation registrou despesas totais de capital de US $ 206,3 milhões, com alocações específicas da seguinte forma:
| Categoria de infraestrutura | Quantidade de despesas |
|---|---|
| Infraestrutura de gás natural | US $ 97,5 milhões |
| Infraestrutura de utilidade elétrica | US $ 58,2 milhões |
| Infraestrutura de distribuição de propano | US $ 35,6 milhões |
| Desenvolvimento de pipeline de transmissão | US $ 15,0 milhões |
Compensação e treinamento da força de trabalho
A compensação total dos funcionários em 2022 foi de US $ 158,4 milhões, dividida da seguinte maneira:
- Salário base: US $ 112,6 milhões
- Bônus de desempenho: US $ 22,8 milhões
- Benefícios dos funcionários: US $ 23,0 milhões
Custos regulatórios de conformidade e licenciamento
As despesas anuais de conformidade regulatória para 2022 totalizaram US $ 18,7 milhões, incluindo:
| Categoria de conformidade | Custo |
|---|---|
| Comissão Federal de Regulamentação de Energia (FERC) Conformidade | US $ 6,3 milhões |
| Taxas estaduais de Comissão de Utilidade Pública | US $ 5,9 milhões |
| Conformidade ambiental | US $ 4,2 milhões |
| Segurança e licenciamento técnico | US $ 2,3 milhões |
Investimentos de tecnologia e transformação digital
Redução de investimentos em tecnologia para 2022:
- Atualizações de infraestrutura de TI: US $ 7,6 milhões
- Aprimoramentos de segurança cibernética: US $ 3,2 milhões
- Plataformas de atendimento ao cliente digital: US $ 2,9 milhões
- Infraestrutura de medição avançada: US $ 5,4 milhões
Despesas de aquisição e distribuição de energia
Custos de aquisição de energia para 2022:
| Fonte de energia | Despesa de compras |
|---|---|
| Aquisição de gás natural | US $ 342,6 milhões |
| Compras por atacado de eletricidade | US $ 87,3 milhões |
| Aquisição de propano | US $ 45,2 milhões |
Chesapeake Utilities Corporation (CPK) - Modelo de negócios: fluxos de receita
Taxas de distribuição de gás natural
Para o ano fiscal de 2022, a Chesapeake Utilities reportou US $ 610,2 milhões em receita de distribuição de gás natural. A empresa atende a aproximadamente 54.000 clientes de gás natural em vários estados, incluindo Flórida, Maryland e Delaware.
| Região | Clientes de gás natural | Receita anual de distribuição |
|---|---|---|
| Flórida | 22,500 | US $ 248,3 milhões |
| Maryland | 18,700 | US $ 211,5 milhões |
| Delaware | 12,800 | US $ 150,4 milhões |
Vendas e serviços de propano
Em 2022, as vendas de propano geraram US $ 305,1 milhões em receita, com aproximadamente 45.000 clientes de propano em vários estados.
- Vendas de varejo de propano: US $ 215,7 milhões
- Distribuição por atacado de propano: US $ 89,4 milhões
Receitas de construção de utilidades e engenharia
Os serviços de construção de serviços públicos geraram US $ 87,6 milhões em 2022, com foco no desenvolvimento e manutenção da infraestrutura.
| Categoria de serviço | Receita anual |
|---|---|
| Construção de oleodutos | US $ 52,3 milhões |
| Consultoria de Engenharia | US $ 35,3 milhões |
Consultoria de infraestrutura de energia
Os serviços de consultoria em energia contribuíram com US $ 42,5 milhões para a receita da empresa em 2022.
- Consultoria de Energia Renovável: US $ 24,8 milhões
- Consultoria tradicional de infraestrutura de energia: US $ 17,7 milhões
Investimentos de projeto de energia renovável
Os investimentos em energia renovável geraram US $ 63,4 milhões em receita para o ano fiscal de 2022.
| Tipo de energia renovável | Receita de investimento |
|---|---|
| Projetos solares | US $ 38,6 milhões |
| Energia eólica | US $ 24,8 milhões |
Chesapeake Utilities Corporation (CPK) - Canvas Business Model: Value Propositions
You're looking at the core reasons customers choose Chesapeake Utilities Corporation, and frankly, the numbers coming out of late 2025 show a clear focus on regulated stability paired with strategic, sustainable growth investments. This isn't just about keeping the lights on or the gas flowing; it's about delivering that service reliably while actively building out future capacity.
Highly reliable, regulated natural gas and electric service is the foundation. Chesapeake Utilities Corporation supports this through significant capital deployment aimed at system integrity. For the nine months ended September 30, 2025, capital expenditures totaled $335.6 million, with the full-year 2025 guidance increased to a range of $425 million to $450 million. These investments directly support infrastructure programs that enhance reliability and resiliency across regulated assets. The company's regulated capital program, specifically under 4 regulated infrastructure programs, is forecasted to generate gross margin of $27 million in 2025.
The value proposition is also built on a diversified energy supply base, spanning natural gas distribution, electric service, and propane distribution. This diversification helps smooth out performance across different regulatory and weather environments. The growth in the natural gas distribution segment is clearly visible through customer additions:
- Residential customer growth on the Delmarva Peninsula increased by approximately 4.3% for the nine months ended September 30, 2025.
- Florida Public Utilities residential customers grew by approximately 3.9% over the same nine-month period.
- Florida City Gas residential customers saw an increase of approximately 2.1% year-to-date September 30, 2025.
Chesapeake Utilities Corporation is actively building access to sustainable fuels like RNG via virtual pipeline services, integrating these into the core delivery system. This is a tangible commitment to lower-carbon solutions. For instance, the Full Circle Dairy Renewable Natural Gas (RNG) facility in Florida, a $22 million investment, is designed to produce an average of 100,000 dekatherms annually by converting dairy manure. This process captures over 1,100 metric tons of methane per year. Furthermore, RNG transportation projects approved in Florida, with a combined capital investment of $46 million and estimated completion in the first half of 2025, are set to bring significant supply online, with one project adding 6,700 Dth/day of capacity. The subsidiary Marlin Gas Services provides the virtual pipeline solutions to move this gas.
The company is capturing energy solutions for industrial and commercial growth in Ohio and Florida. In Florida, this includes installing natural gas infrastructure for new developments like the Newfield community, serving homes, schools, and businesses. In Delaware, state funding is being used to install natural gas infrastructure in business parks, attracting small business and manufacturing customers. Management also specifically cited growth opportunities in Ohio. The success of these growth drivers is reflected in the adjusted gross margin contribution from customer growth:
| Metric (9 Months Ended Sept 30, 2025) | Delmarva Peninsula (in millions) | Florida (in millions) |
| Residential Customer Growth Margin | $ 1.2 | $ 2.4 |
| Commercial and Industrial Customer Growth Margin | $ 0.2 | $ 1.7 |
| Total Customer Growth Margin | $ 1.4 | $ 4.1 |
The total customer growth adjusted gross margin for the first nine months of 2025 reached $1.4 million in the Delmarva Peninsula and $4.1 million in Florida.
Chesapeake Utilities Corporation (CPK) - Canvas Business Model: Customer Relationships
Long-term, stable relationships governed by regulatory compacts
The foundation of Chesapeake Utilities Corporation customer relationships in the regulated space is stability, underpinned by state regulatory oversight.
The average number of residential customers served on the Delmarva Peninsula increased by approximately 4.3 percent for the three months ended September 30, 2025. For the nine months ended September 30, 2025, the residential customer base for Florida Public Utilities Company grew by approximately 3.9 percent. The average number of residential customers served by Florida City Gas increased by approximately 2.1 percent over the same nine-month period in 2025.
The value derived from these regulated customer relationships, as measured by adjusted gross margin from customer growth for the nine months ended September 30, 2025, included:
| Segment/Customer Type | Delmarva Peninsula Margin Growth (9 Months 2025, in millions) | Florida Margin Growth (9 Months 2025, in millions) |
| Residential | $ 1.2 | $ 2.4 |
| Commercial and industrial | $ 0.2 | $ 1.7 |
Chesapeake Utilities Corporation has historically served over 440k+ distribution customers. The Company re-affirmed its 2025 Adjusted EPS guidance range of $6.15 to $6.35 per share as of November 2025.
Dedicated account management for large commercial and industrial customers
The relationship with large commercial and industrial customers in the regulated segments contributed to adjusted gross margin growth of $0.1 million on the Delmarva Peninsula and $0.4 million in Florida for the three months ended March 31, 2025. For the nine months ended September 30, 2025, this customer class contributed to adjusted gross margin growth of $0.2 million on the Delmarva Peninsula and $1.7 million in Florida.
Customer service centers for billing and outage support
The Company's capital expenditures for 2025 were increased to a range of $425 million to $450 million as of the third quarter of 2025, reflecting ongoing investment to support the customer base. The Company's total forecasted capital expenditures for 2025 were initially projected between $325.0 million and $375.0 million.
Direct sales and service for unregulated propane and midstream clients
Chesapeake Utilities Corporation's unregulated propane business saw customer base expansion through acquisitions; for example, the acquisition of J.T. Lee and Son's added approximately 3,000 propane customers in North Carolina. Another acquisition, Boulden Propane, added an additional 5,200 residential and commercial customers.
The unregulated propane distribution segment had a forecasted 2025 capital expenditure range between $12.0 million and $15.0 million. For the three months ended March 31, 2025, increased propane customer consumption resulted in an adjusted gross margin increase of $4.2 million.
The midstream services, including CNG/RNG/LNG Transportation and Infrastructure, saw an increased level of virtual pipeline services contributing $3.6 million to adjusted gross margin for the three months ended March 31, 2025. For the three months ended September 30, 2025, increased CNG, RNG and LNG services contributed to adjusted gross margin growth.
You should review the impact of the FCG Depreciation Study on the 2025 guidance, as the re-affirmation of the $6.15 to $6.35 per share EPS range is pending a successful outcome. Finance: draft 13-week cash view by Friday.
Chesapeake Utilities Corporation (CPK) - Canvas Business Model: Channels
You're looking at how Chesapeake Utilities Corporation moves its product to the customer, and it's a mix of fixed assets and mobile solutions, honestly. The physical delivery backbone is substantial.
Physical pipeline and electric distribution network to end-users
- As of the end of 2022, the combined total miles of assets across natural gas distribution, natural gas transmission, and electric business units stood at 6,647 miles.
- The natural gas distribution component included 2,012 miles for Delmarva Natural Gas and 3,043 miles for CFG and FPU (natural gas pipelines).
- The FCG acquisition in 2023 more than doubled operations in Florida, adding significant regulated distribution miles to this base.
- For 2025, Chesapeake Utilities Corporation increased its projected capital expenditure guidance range to $375 million to $425 million, reinforcing this physical network.
Propane delivery trucks and storage facilities along the Eastern seaboard
Sharp Energy, the propane distribution arm, covers Pennsylvania, Maryland, Delaware, Virginia, North Carolina, South Carolina, and Florida. They recently expanded in North Carolina by acquiring assets that added approximately 3,000 customers and distribution of about 800,000 gallons of propane annually. That specific acquisition also brought in a bulk plant with 60,000 gallons of propane storage. To give you a sense of the segment's scale, as of December 31, 2022, the Unregulated Energy Segment held propane storage capacity of 8.7 million gallons.
Here's a quick look at some of the key infrastructure numbers we see across the regulated and unregulated segments:
| Asset Type / Metric | Value | Segment / Context |
| Total Miles of Assets (as of 12/31/2022) | 6,647 miles | Regulated Gas Distribution, Transmission, and Electric Distribution |
| Aspire Energy Natural Gas Pipelines (as of 12/31/2022) | 2,800 miles | Unregulated Energy Transmission and gathering |
| Propane Storage Capacity (as of 12/31/2022) | 8.7 million gallons | Unregulated Energy Segment |
| 2025 Capital Expenditure Guidance (Range) | $375 million to $425 million | Company-wide investment |
Marlin Gas Services virtual pipeline transport for off-grid delivery
Marlin Gas Services uses its fleet of CNG steel tube trailers to bring natural gas where pipelines can't go. Their jumbo steel tube trailers can be filled up to approximately 3,000 psi. The usable capacity is typically around 140 MCF (thousand cubic feet) of natural gas per trailer, though they are adding composite trailers for greater volume. Marlin serves a wide geographic area, including New York, Kentucky, West Virginia, Virginia, Maryland, Delaware, Missouri, Tennessee, North Carolina, South Carolina, Georgia, Alabama, Mississippi, Louisiana, and Florida.
Aspire Energy's 2,300+ miles of gathering and transmission lines in Ohio
In Ohio, Aspire Energy is a major player in midstream services. They operate an extensive network spanning across 40 of Ohio's 88 counties. Aspire Energy operates over 2,300 miles of gathering and intrastate pipelines in Ohio, and they continue to upgrade and expand this system. For instance, a recent project involved building a 5,500-foot gathering pipeline built to transmission specifications to support a new gas processing facility.
Chesapeake Utilities Corporation (CPK) - Canvas Business Model: Customer Segments
You're looking at the specific groups Chesapeake Utilities Corporation serves across its regulated and unregulated businesses as of late 2025. This company doesn't just serve one type of energy user; it's spread across gas, electric, and propane.
The customer base is segmented by the nature of the service and the regulatory environment they operate in. For the regulated side, growth in the number of customers is a key metric driving rate base expansion.
- Regulated Residential Customers in Delmarva and Florida: The Delmarva Peninsula saw residential customer growth of approximately 4.3% for the nine months ended September 30, 2025. For the same period, Florida Public Utilities Company added residential customers at a rate of approximately 3.9%, while Florida City Gas added them at approximately 2.1%.
- Commercial and Industrial (C&I) customers requiring firm energy supply: These customers are served across the regulated gas distribution territories. For the nine months ending September 30, 2025, the Adjusted Gross Margin contribution from C&I customer growth in Florida was $1.7 million.
- Unregulated Propane Customers across the Eastern seaboard: This segment competes on price and service, aiming to capture market share. In the first quarter of 2025, increased propane customer consumption alone contributed $4.2 million to the Adjusted Gross Margin quarter-over-quarter.
- Midstream/Utility Customers (LDCs, Co-ops) using Aspire Energy services: Aspire Energy, operating in Ohio, provides natural gas supplies to local gas cooperatives and local distribution systems (LDCs). Aspire Energy manages Consumers Gas Cooperative, which serves over 10,000 members in Orrville, Ohio.
- Vehicle fleets and industrial users of CNG/RNG/LNG transport services: This falls under the Unregulated Energy segment's CNG/RNG/LNG Transportation and Infrastructure. The increased level of virtual pipeline services contributed $3.6 million to the Adjusted Gross Margin in the first quarter of 2025 compared to the prior year's quarter.
Here's a quick look at how the customer growth translated into margin dollars for the first nine months of 2025, which really shows where the volume is coming from:
| Customer Type/Area | 9 Months Ended Sept 30, 2025 Adjusted Gross Margin Contribution (in millions) |
|---|---|
| Residential - Delmarva Peninsula | $1.2 |
| Residential - Florida (FPU & FCG) | $2.4 |
| Commercial and Industrial - Florida | $1.7 |
| Total Customer Growth Margin | $5.3 |
The total Adjusted Gross Margin from customer growth across these key regulated areas for the nine months ending September 30, 2025, totaled approximately $5.3 million. What this estimate hides is the margin from the Unregulated segments, which is reported separately, but we know the propane side saw strong consumption growth early in the year.
The company's overall strategy involves expanding its regulated footprint, which is directly tied to serving more residential and C&I customers through infrastructure programs. For instance, the Regulated Energy segment saw its Adjusted Gross Margin grow by 12% year-over-year in Q3 2025.
The regulated electric distribution business in Florida also serves customers, where permanent rates are now in effect for electric jurisdictions, driving an estimated $13.1 million of margin in 2025.
Finance: draft 13-week cash view by Friday.
Chesapeake Utilities Corporation (CPK) - Canvas Business Model: Cost Structure
The Cost Structure for Chesapeake Utilities Corporation centers heavily on capital deployment for growth and the ongoing procurement and operational costs associated with energy delivery.
High capital expenditures for infrastructure growth are a major cost driver. Chesapeake Utilities Corporation increased its 2025 capital expenditure guidance to a range of $425 million to $450 million. This level of investment supports the company's strategy, with $336 million already invested in the first nine months of 2025.
Cost of sales (natural gas and propane procurement) is a direct variable cost. The calculation for Adjusted Gross Margin explicitly deducts the purchased cost of natural gas, propane, and electricity. For instance, in the second quarter of 2025, the Cost of Sales (Natural gas, propane and electric costs) was reported as ($105.6) million. In the first quarter of 2025, the Cost of Sales for natural gas, propane and electric costs was ($71.5) million.
The company manages a large asset base, leading to significant depreciation and amortization charges. For the three months ended September 30, 2025, Depreciation, amortization and property taxes totaled $32.7 million. This compares to $22.5 million for the first quarter of 2025.
Operating expenses are managed relative to the revenue generated. For the third quarter of 2025, operational expenses represented 34% of adjusted gross margin, an improvement from 37% in the prior year quarter. Other operating expenses for Q3 2025 were $59.3 million.
Financing the asset base involves interest expense on long-term debt. Chesapeake Utilities Corporation completed a $200 million issuance of new long-term unsecured senior notes with a blended coupon rate of 5.04%. As of September 30, 2025, Long-term debt, net of current maturities, stood at $1,437.9 million. The reported Interest Expense on Debt for the fiscal quarter ending in June of 2025 was $17.8 million.
Here are key cost-related financial figures from recent periods:
| Cost Component | Period/Context | Amount |
| Capital Expenditure Guidance (2025) | Full Year 2025 | $425 million to $450 million |
| Cost of Sales (Natural Gas, Propane, Electric) | Q2 2025 | ($105.6) million |
| Cost of Sales (Natural Gas, Propane, Electric) | Q1 2025 | ($71.5) million |
| Depreciation, Amortization and Property Taxes | Q3 2025 | $32.7 million |
| Operating Expenses as % of Adjusted Gross Margin | Q3 2025 | 34% |
| Other Operating Expenses | Q3 2025 | $59.3 million |
| Interest Expense on Debt | Q2 2025 | $17.8 million |
| Long-term Debt, net of current maturities | September 30, 2025 | $1,437.9 million |
The company's capital spending is supported by financing activities, including the issuance of $92.0 million of equity over the last twelve months.
You should review the impact of the FCG Depreciation Study, as its successful outcome is a condition for reaffirming the full-year 2025 Adjusted EPS guidance.
Finance: draft 13-week cash view by Friday.
Chesapeake Utilities Corporation (CPK) - Canvas Business Model: Revenue Streams
You're looking at the top-line picture for Chesapeake Utilities Corporation (CPK) as of late 2025, focusing strictly on where the money comes in. The business model is built on a foundation of regulated utility income, supplemented by growth-oriented unregulated energy services.
The Total Trailing Twelve Months (TTM) Revenue as of September 30, 2025, stands at approximately $886.15 Million USD. This represents a year-over-year growth of about 15% compared to the TTM ending September 30, 2024. For the full fiscal year 2024, the annual revenue was $787.20 Million USD.
The revenue streams are clearly segmented between the stable, rate-regulated side and the higher-growth, unregulated energy services. Here's a breakdown of the components that make up that top line:
- Regulated natural gas and electric distribution tariffs provide the stable, predictable base.
- Unregulated propane sales and service fees offer a non-utility revenue component.
- Natural gas transmission and midstream services, primarily through Aspire Energy Express, support the Ohio market.
- Virtual pipeline transportation and RNG sales, driven by Marlin Gas Services, focus on mobile CNG and renewable natural gas solutions.
To give you a clearer picture of the known components, particularly from the regulated side where we have some concrete 2024 data for the pipeline subsidiaries (Eastern Shore and Peninsula Pipeline), we can look at the operating revenues reported for the year ended December 31, 2024 (in millions of USD):
| Revenue Source (2024 Operating Revenue) | Amount (Millions USD) | Percentage of Total Pipeline Revenue Shown |
| Local distribution companies - affiliated | $35.2 | 43% |
| Local distribution companies - non-affiliated | $22.3 | 27% |
| Commercial and industrial - non-affiliated | $23.9 | 29% |
| Other | $0.3 | 1% |
| Total Pipeline Operating Revenues (Proxy) | $81.7 | 100% |
The core regulated revenue comes from the local distribution companies (LDCs) like Florida City Gas and Delmarva Natural Gas, which are subject to regulatory oversight. For example, the Maryland natural gas distribution businesses filed for rate relief in January 2024 seeking approval for a 11.5 percent Return on Equity (ROE) on permanent rate relief of approximately $6.9 million. This regulatory framework is what underpins the stability you noted.
The unregulated segments are positioned for growth. Aspire Energy Express, the intrastate pipeline subsidiary in Ohio, connects major pipelines to power generation, like the 1,875 MW Guernsey Power Station. Marlin Gas Services, acquired in 2018, focuses on mobile CNG and virtual pipeline solutions, including RNG transport, which aligns with the company's renewable energy investments.
Here are the key revenue drivers across the segments:
- Regulated LDC revenue is tied to approved tariffs and customer growth in Florida, Delaware, and Maryland.
- Propane distribution revenue is recognized based on consumption for metered customers or point-of-delivery for bulk sales.
- Aspire Energy Express revenue is supported by firm transportation capacity contracts.
- Marlin Gas Services revenue is derived from the compression of natural gas and utilization of its mobile CNG equipment.
Finance: draft 13-week cash view by Friday.
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