DERIVATIVE INSTRUMENTS (Tables)
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3 Months Ended |
Dec. 31, 2011
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Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Text Block] |
The following table reflects the fair value of NJR's derivative assets and liabilities recognized in the Unaudited Condensed Consolidated Balance Sheets as of: | | | | | | | | | | | | | | | | | | | | | | Fair Value | | | | December 31, 2011 | | September 30, 2011 | (Thousands) | Balance Sheet Location | Asset Derivatives | Liability Derivatives | Asset Derivatives | Liability Derivatives | Derivatives designated as hedging instruments: | | | | | | | | | NJRES: | | | | | | | | | | Foreign currency contracts | Derivatives - current | | $ | 143 |
| | $ | 2 |
| | $ | 153 |
| | $ | 8 |
| | Derivatives - noncurrent | | 82 |
| | 20 |
| | 127 |
| | 6 |
| Fair value of derivatives designated as hedging instruments | | $ | 225 |
| | $ | 22 |
| | $ | 280 |
| | $ | 14 |
| | | | | | | | | | Derivatives not designated as hedging instruments: | | | | | | | | | NJNG: | | | | | | | | | | Financial commodity contracts | Derivatives - current | | $ | 2,669 |
| | $ | 29,051 |
| | $ | 5,424 |
| | $ | 13,258 |
| | Derivatives - noncurrent | | — |
| | — |
| | 2 |
| | 620 |
| NJRES: | | |
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| Physical forward commodity contracts | Derivatives - current | | 20,535 |
| | 11,833 |
| | 33,240 |
| | 10,570 |
| | Derivatives - noncurrent | | 3,333 |
| | 2,818 |
| | 4,450 |
| | 781 |
| Financial commodity contracts | Derivatives - current | | 96,279 |
| | 38,427 |
| | 61,521 |
| | 44,862 |
| | Derivatives - noncurrent | | 3,949 |
| | 4,658 |
| | 1,936 |
| | 4,934 |
| Fair value of derivatives not designated as hedging instruments | | $ | 126,765 |
| | $ | 86,787 |
| | $ | 106,573 |
| | $ | 75,025 |
| Total fair value of derivatives | | | $ | 126,990 |
| | $ | 86,809 |
| | $ | 106,853 |
| | $ | 75,039 |
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Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
The following table reflects the effect of derivative instruments on the Unaudited Condensed Consolidated Statements of Operations as of: | | | | | | | | | | (Thousands) | Location of gain (loss) recognized in income on derivatives | Amount of gain (loss) recognized in income on derivatives | | | Three Months Ended | | | December 31, | Derivatives not designated as hedging instruments: | 2011 | | 2010 | NJRES: | | | | | Physical commodity contracts | Operating revenues | $ | (11,908 | ) | | $ | (16,469 | ) | Physical commodity contracts | Gas purchases | 4,275 |
| | 3,709 |
| Financial commodity contracts | Gas purchases | 62,454 |
| | (28,271 | ) | Total unrealized and realized gains (losses) | $ | 54,821 |
| | $ | (41,031 | ) |
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Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Text Block] |
The following table reflect the effect of derivative instruments designated as cash flow hedges on OCI as of: | | | | | | | | | | | | | | | | | | | | (Thousands) | Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) (1) | Amount of Gain or (Loss) Reclassified from OCI into Income (Effective Portion) | Amount of Gain or (Loss) Recognized on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) | | Three Months Ended | Three Months Ended | Three Months Ended | | December 31, | December 31, | December 31, | Derivatives in cash flow hedging relationships: | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | Foreign currency contracts | $ | (76 | ) | $ | (144 | ) | $ | 13 |
| $ | 5 |
| $ | — |
| $ | — |
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| | (1) | The settlement of foreign currency transactions over the next twelve months is expected to result in the reclassification of $141,000 from OCI into earnings. The maximum tenor is April 2015. |
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Schedule of Derivative Instruments [Text Block] |
NJNG and NJRES had the following outstanding long (short) derivatives as of: | | | | | | | | | | | Volume (Bcf) | | | | December 31, 2011 | September 30, 2011 | NJNG | Futures | | 21.9 |
| 23.7 |
| | Swaps | | (3.6 | ) | (1.8 | ) | | Options | | 1.0 |
| 1.1 |
| NJRES | Futures | | (23.3 | ) | (13.8 | ) | | Swaps | | (10.2 | ) | (41.9 | ) | | Options | | — |
| — |
| | Physical | | 28.4 |
| 58.3 |
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Schedule of Due to (from) Broker-Dealers and Clearing Organizations [Text Block] |
The Company maintains broker margin accounts for NJNG and NJRES. The balances by company, are as follows: | | | | | | | | | (Thousands) | Balance Sheet Location | December 31, 2011 | September 30, 2011 | NJNG | Broker margin - Current assets | $ | 30,774 |
| $ | 11,722 |
| NJRES | Broker margin - Current assets | $ | 20,155 |
| $ | 10,873 |
| NJRES | Broker margin - Current (liabilities) | $ | (31,802 | ) | $ | — |
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Schedules of Concentration of Risk, by Risk Factor [Table Text Block] |
The amounts presented below have not been reduced by any collateral received or netting and exclude accounts receivable for NJNG retail natural gas sales and services. | | | | | | | (Thousands) | Gross Credit Exposure | Investment grade | | $ | 188,510 |
| | Noninvestment grade | | 23,824 |
| | Internally rated investment grade | | 40,072 |
| | Internally rated noninvestment grade | | 5,100 |
| | Total | | $ | 257,506 |
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