INVESTMENTS IN EQUITY INVESTEES

3 Months Ended

Dec. 31, 2014

Investments, All Other Investments [Abstract]

NJR's investments in equity investees includes the following investments as of:



(Thousands)	December 31, 2014		September 30, 2014
Steckman Ridge ⁽¹⁾	$	127,907	$	128,413
Iroquois	22,876		24,042
PennEast	1,103		555
Total	$	151,886	$	153,010


(1)	Includes loans with a total outstanding principal balance of $70.4 million for both December 31, 2014 and September 30, 2014. The loans accrue interest at a variable rate that resets quarterly and are due October 1, 2023.

NJR, through a subsidiary, NJR Pipeline Company, formed PennEast with five other investors, plans to construct and operate a 108-mile pipeline that will extend from northeast Pennsylvania to western New Jersey.

NJRES and NJNG have entered into transportation, storage and park and loan agreements with Steckman Ridge and Iroquois. In addition, NJNG has entered into a precedent capacity agreement with PennEast with an estimated service date of November 1, 2017. See Note 14. Related Party Transactions for more information on these intercompany transactions.