INVESTMENTS IN EQUITY INVESTEES

9 Months Ended

Jun. 30, 2015

Investments, All Other Investments [Abstract]

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



(Thousands)	June 30, 2015		September 30, 2014
Steckman Ridge ⁽¹⁾	$	126,037	$	128,413
Iroquois	23,006		24,042
PennEast	2,880		555
Total	$	151,923	$	153,010


(1)	Includes loans with a total outstanding principal balance of $70.4 million for both June 30, 2015 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, and plans to construct and operate a 115-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.