Securities
and Exchange Commission
Washington,
D.C. 20549
_______________________________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of
Report (Date of earliest event reported): May 1, 2006
Chesapeake
Utilities Corporation
(Exact
name of registrant as specified in its charter)
|
Delaware
|
001-11590
|
51-0064146
|
(State
or other jurisdiction of
|
(Commission
|
|
incorporation
or organization)
|
File
Number)
|
|
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)
_______________________________________________________________
(Former
name, former address and former fiscal year, if changed since last
report.)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[
]
Written communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR
240.14a-12)
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
[
]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
Item
8.01. Other Events.
Chesapeake
Utilities Corporation (the “Company”) announced today that the Company
filed a
base rate increase request with the Maryland Public Service Commission
(“PSC”)
on May 1, 2006, its first filing of this type in the State of Maryland
in 11
years. The
Company’s last filing for a Maryland division base rate increase was in July
1995. The
proposed base rate adjustment results in an increase of approximately
6.5
percent on average for the Company’s firm residential, commercial, and
industrial customers in Maryland. This base rate increase translates
into less
than a one percent increase annually for the last eleven years, which
is
significantly less than the rate of inflation over those same years.
The
proposed increase is expected to generate an additional $1,137,000 of
revenue
for the Company on an annualized basis.
The
rate
adjustment would cover the increase in expenses and investment in infrastructure
necessary to continue providing the current level of service to the Company’s
Maryland division customers.
Within
this request, the Company’s Maryland division is also seeking the PSC’s approval
to amortize $1,159,000 of environmental remediation costs over a 10-year
period.
The
Company filed a second application on May 5, 2006 requesting the PSC
approve a
4.8 percent increase in base rates on an interim basis, subject to refund,
pending completion of the PSC’s formal regulatory process this year. The Company
is requesting that these interim base rates become effective in approximately
thirty days.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this Report to be signed on its behalf by the undersigned hereunto
duly authorized.
Chesapeake
Utilities Corporation
/s/
Michael
P. McMasters
—————————————
Michael
P. McMasters
Senior
Vice President and Chief Financial Officer
Date: May
5, 2006