April 5, 2019 | Dover, DE – Chesapeake Utilities Corporation’s (NYSE: CPK) propane distribution subsidiary, Sharp Energy, has recently completed significant construction upgrades to its propane rail facility in North Dover, Delaware. The enhanced rail facility triples Sharp Energy’s propane supply capacity to serve tens of thousands of end-users throughout Delaware, Maryland, Pennsylvania and Virginia. The rail facility includes a state-of-the-art rail platform that provides safe access to unloading fuel, and a convenient transport loading bay for outgoing product.

“The North Dover Rail Facility is another example of Sharp Energy’s unwavering commitment to serving our customers,” said Andy Hesson, Vice President of Sharp Energy. “The facility is a creative, cost-effective solution that helps us meet the region’s growing energy needs while continuing to provide reliable, clean and affordable energy to the customers and communities we serve.”

The completed upgrades increased the facility’s storage capacity by an additional 275,000 gallons, bringing the total available capacity at the facility to 385,000 gallons. With this additional capacity, Sharp’s total propane storage capacity in the Mid-Atlantic region increases to more than 3.5 million gallons. The rail facility enables propane delivery into the region through one of the most cost-effective transportation options and enhances the Company’s ability to expand service to additional large industrial customers, while ensuring an additional layer of security and stability to Sharp’s supply availability.

“The upgraded rail facility increases the reliability of our propane supply on a year-round basis, including the cold winter months when customers rely on propane to heat their homes and businesses,” said Steve Farkas, Director of Operations for Sharp Energy. “Sharp Energy customers, as well as customers of other propane distribution companies throughout the region, will benefit from the additional supply that is now available here in Delaware.”

In addition to using the facility to better meet the needs of Sharp Energy customers, Sharp plans to wholesale more than 13,000,000 gallons of propane to other energy marketers annually.

About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas transmission and distribution; electricity generation and distribution; propane gas distribution; and other businesses. Information about Chesapeake Utilities Corporation’s businesses is available at www.chpk.com or through the Company’s Investor Relations App.

About Sharp Energy
Sharp Energy, headquartered in Georgetown, Delaware, distributes propane to approximately 42,000 residential, commercial and industrial customers in Maryland, Delaware, Virginia and Pennsylvania. With four rail facilities and over 3,500,000 gallons of propane storage, Sharp Energy has established a solid supply portfolio. Sharp Energy is a proud partner of Alliance AutoGas, a national network of companies that have joined together to deliver a comprehensive alternative fueling solution, which includes EPA-certified propane AutoGas vehicle conversions, on-site fueling infrastructure, fuel supply, safety and operational training and ongoing technical support. To learn more about Sharp Energy, visit www.sharpenergy.com.

Please note that Chesapeake Utilities Corporation is not affiliated with Chesapeake Energy, an oil and natural gas exploration company headquartered in Oklahoma City, Oklahoma.

 

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Cautionary Note Regarding Forward-Looking Statements: Statements in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “likely,” “outlook,” “forecast,” “would,” “could,” “should,” “can,” “will,” “project,” “intend,” “plan,” “goal,” “target,” “continue,” “sustain,” “believe,” “seek,” “estimate,” “anticipate,” “may,” “possible,” “assume,” variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that could cause actual results to vary materially from those indicated, including the factors described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, each of which is incorporated herein by reference, and in other documents that we file or furnish with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except to the extent required by law, the Company does not undertake, and expressly disclaims, any duty or obligation to update publicly any forward-looking statement after the date of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

FOR MORE INFORMATION:
Justin Mulcahy
Public Relations Manager
302.217.7011
jmulcahy@chpk.com