Fernandina Beach, Florida, September 23, 2014 — Florida Public Utilities Company (“FPU”) today announced that on September 15, 2014, the Florida Public Service Commission (“PSC”) approved the joint recommendation of FPU and the Office of Public Counsel (“OPC”) to adopt the “Stipulation and Settlement Agreement” (“Agreement”), which was filed in August of this year. Under the Agreement, FPU will implement a $3.75 million rate increase across its two electric divisions.

The rate increase was approved after consideration and inquiry by PSC Commissioners and staff. This is the first rate increase to FPU electric customers in seven years. Effective November 2014, the average residential customer, using 1,000 kilowatt hours per month, will see a $2.07 increase to their monthly bill.

“Over the last few years, FPU has made significant improvements in its service and reliability, and has lowered fuel costs several times. We appreciate the opportunity to serve our customers and look forward to continuing to provide safe, reliable service at a reasonable cost,” said Jeff Householder, President of FPU.

As a result of this settlement, FPU will temporarily suspend accruals to its storm reserve and utilize the funds to accelerate tree trimming and underwrite a study on installing facilities underground in both its Northeast and Northwest Divisions.

About Florida Public Utilities Company

Florida Public Utilities Company is a wholly-owned subsidiary of Chesapeake Utilities Corporation. Headquartered in Fernandina Beach, Florida, FPU distributes natural gas and propane and provides electric services to approximately 100,000 customers in markets throughout the state. For more information, visit www.fpuc.com.

About Chesapeake Utilities Corporation

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy company engaged in natural gas distribution, transmission and marketing; electricity distribution; propane gas distribution and wholesale marketing; advanced information services; and other related services. Information about Chesapeake Utilities Corporation and the Chesapeake family of businesses is available at www.chpk.com.



For more information, contact:

Aleida Socarras

Director of Marketing and Sales

Florida Public Utilities Company

(863) 885 1806