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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Dec. 31, 2011

Schedule of Change in Asset Retirement Obligation [Table Text Block]

The following is an analysis of the change in the ARO liability for the three months ended December 31, 2011 and the twelve months ended September 30, 2011:



(Thousands)	December 31, 2011			September 30, 2011
Balance at October 1	$	27,026		$	26,009
Accretion	440			1,663
Additions	—			180
Retirements	(341		)	(826		)
Balance at period end	$	27,125		$	27,026

Schedule of Utility Inventory [Table Text Block]

The following table summarizes gas in storage by company as of:



	December 31, 2011				September 30, 2011
($ in thousands)	Gas in Storage			Bcf	Gas in Storage			Bcf
NJNG		$	134,994	21.6		$	159,328	23.1
NJRES		157,133		46.3		135,147		36.8
Total		$	292,127	67.9		$	294,475	59.9

Schedule of Public Utilities Allowance for Funds Used During Construction Rate [Table Text Block]

Corresponding amounts recognized in interest expense and other income, as appropriate, are included in the Unaudited Condensed Consolidated Statements of Operations are as follows:



	Three Months Ended
	December 31,
($ in thousands)	2011			2010
AFUDC:
Debt	$	44		$	35
Equity	42			18
Total	$	86		$	53
Weighted average rate %	0.39		%	0.27		%

Schedule of Sales Tax And Assessment [Table Text Block]

Sales tax and Transitional Energy Facilities Assessment (TEFA) are collected from customers and presented in both operating revenues and operating expenses on the Unaudited Condensed Consolidated Statements of Operations as follows:



	Three Months Ended
	December 31,
(Millions)	2011		2010
Sales tax	$	9.8	$	15.8
TEFA ⁽¹⁾	2.2		2.9
Total	$	12.0	$	18.7


(1)	TEFA will be phased out over a three-year period commencing January 1, 2012.

Accounts Receivable by Subsidiary [Table Text Block]

The following table summarizes customer accounts receivable by company as of:



(Thousands)	December 31, 2011				September 30, 2011
NJNG⁽¹⁾	$	66,098	26	%	$	45,092	22	%
NJRES	180,464		70		155,594		74
NJRCEV	49		—		69		—
NJRHS and other	9,850		4		8,511		4
Total	$	256,461	100	%	$	209,266	100	%


(1)	Does not include unbilled revenues of $33.3 million and $7.3 million as of December 31, 2011 and September 30, 2011, respectively.