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): March 11, 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 (NYSE: CPK) (the “Company”) announced today that its
propane distribution subsidiary, Sharp Energy (“Sharp”), has identified that
approximately 75,000 gallons of propane that it purchased in the first
half of
March 2006 contained above normal levels of petroleum byproducts.
Sharp
has
initiated a plan to replace the propane at each of the 560 impacted customers
at
no cost to the customers. Sharp is also in the process of replacing any
remaining propane contained at its storage facilities. Sharp expects the
plan to
take several weeks before all propane is exchanged. The propane that is
retrieved from customers and Sharp’s storage facilities will be returned to the
supplier.
The
supplier’s testing identified above normal concentration levels of the petroleum
byproduct benzene. Benzene, which may be found in trace amounts in propane,
is
used to make plastics, resins, nylon, synthetic fibers, detergents, lubricants,
drugs, dyes and pesticides. It is also routinely found in crude oil and
gasoline. The supplier has conducted modeling and testing of the propane
in
combustion situations and has stated that they have found no health or
safety
concerns.
The
supplier has indicated that it will reimburse Sharp for all damages, costs,
and
expenses incurred by Sharp or the Company in connection with this matter.
Management does not believe that the foregoing will ultimately have a material
adverse effect on the Company or its business, results of operations or
long-term financial condition. However, the Company is still evaluating
the
potential financial and other effects on the Company of the occurrence
and, as
of the date of this filing, is unable to determine how such occurrence
will, in
fact, affect the Company or its business, results of operations or condition,
financial and otherwise.
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:
March 16, 2006