REGULATION (Tables)

3 Months Ended

Dec. 31, 2017

Regulated Operations [Abstract]

Schedule of Regulatory Assets and Liabilities

Regulatory assets and liabilities included on the Unaudited Condensed Consolidated Balance Sheets are comprised of the following:

(Thousands)	December 31, 2017		September 30, 2017
Regulatory assets-current
New Jersey Clean Energy Program	$	12,626	$	14,202
Underrecovered gas costs	490		9,910
Derivatives at fair value, net	18,471		9,010
Conservation Incentive Program	9,987		17,669
Total current regulatory assets	$	41,574	$	50,791
Regulatory assets-noncurrent
Environmental remediation costs
Expended, net of recoveries	$	31,236	$	28,547
Liability for future expenditures	144,046		149,000
Deferred income taxes	16,356		21,795
SAVEGREEN	13,419		16,302
Postemployment and other benefit costs	138,681		141,433
Deferred Post-Tropical Cyclone Sandy costs	12,487		13,030
Other noncurrent regulatory assets	5,925		5,812
Total noncurrent regulatory assets	$	362,150	$	375,919
Regulatory liability-current
Derivatives at fair value, net	$	434	$	78
Total current regulatory liabilities	$	434	$	78
Regulatory liabilities-noncurrent
Deferred income taxes (1)	$	229,315	$	—
Cost of removal obligation	—		7,902
Derivatives at fair value, net	—		146
New Jersey Clean Energy Program	7,527		5,795
Other noncurrent regulatory liabilities	996		664
Total noncurrent regulatory liabilities	$	237,838	$	14,507

(1) Includes an adjustment related to the re-measurement of NJNG's net deferred tax liabilities to reflect the change in federal tax rates enacted in the Tax Act. For a more detailed discussion of the Tax Act, see Note 11. Income Taxes.