INVESTMENTS IN EQUITY INVESTEES

6 Months Ended

Mar. 31, 2016

Investments, All Other Investments [Abstract]

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



(Thousands)	March 31, 2016		September 30, 2015
Steckman Ridge ⁽¹⁾	$	124,446	$	125,649
PennEast	12,528		6,353
Total	$	136,974	$	132,002


(1)	Includes loans with a total outstanding principal balance of $70.4 million for both March 31, 2016 and September 30, 2015. 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 118-mile pipeline that will extend from northeast Pennsylvania to western New Jersey.

NJRES and NJNG have entered into storage and park and loan agreements with Steckman Ridge. In addition, NJNG has entered into a precedent capacity agreement with PennEast, which is estimated to be in service during the last quarter of fiscal 2018 or the first quarter of fiscal 2019. See Note 14. Related Party Transactions for more information on these intercompany transactions.