# Chesapeake Utilities Reaffirms $550 Million-$600 Million 2026 Capital Plan

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/51867
Published: 2026-11-08T22:25:20.000Z
Updated: 2026-11-08T22:25:20.000Z
Section: Business

> The plan includes initial funding for a proposed 97-mile South Florida pipeline estimated to cost about $1.2 billion, with service targeted for 2030.

Chesapeake Utilities Corporation reaffirmed its 2026 capital spending forecast at $550 million to $600 million on Nov. 5, after spending $412.8 million in the first nine months of the year. The outlook includes initial investment in the Florida Energy Pathway, a proposed natural gas pipeline in South Florida with an estimated cost of about $1.2 billion.

Third-quarter capital spending totaled $151.2 million. The forecast assigns $185 million to $195 million to regulated transmission, the category that includes initial spending on the pipeline. Other allocations are $135 million to $145 million for regulated distribution, $115 million to $125 million for regulated infrastructure, $90 million to $100 million for technology and $25 million to $35 million for unregulated businesses.

The planned 97-mile, 24-inch line would connect Palm Beach County with Miami-Dade County. Its estimated cost remains subject to final design and development.

Multiple investment-grade shippers have committed to transport about 250,000 dekatherms per day through the project. Three shippers have committed to the project.

NextEra Energy Resources took a 49% stake in the project on Sept. 1. Chesapeake subsidiary Peninsula Pipeline Holdings owns the remaining 51%. Another Chesapeake subsidiary, Peninsula Pipeline Company, is engaged to construct, manage and operate the line.

The project’s July outline contemplated outside ownership of as much as 49%, and linked upstream gas supply to Florida Gas Transmission’s Phase IX expansion. Engineering and design work continues, while permitting preparation is underway. The permitting process is expected to take 12 to 18 months.

Chesapeake expects construction to begin in the first half of 2028. The company is targeting service in 2030, subject to final commissioning.