REGULATION (Tables)

9 Months Ended

Jun. 30, 2022

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


(Thousands)	June 30, 2022		September 30, 2021
Regulatory assets-current
New Jersey Clean Energy Program	$	17,648	$	16,308
Conservation Incentive Program	23,187		11,839


Other current regulatory assets	1,485		1,554
Total current regulatory assets	$	42,320	$	29,701
Regulatory assets-noncurrent
Environmental remediation costs:
Expended, net of recoveries	$	65,632	$	58,483
Liability for future expenditures	120,597		135,012
Deferred income taxes	40,274		39,694
Derivatives at fair value, net	5,057		—
SAVEGREEN	39,474		32,941
Postemployment and other benefit costs	109,320		117,194
Deferred storm damage costs	2,714		4,343
Cost of removal	104,100		99,238

Other noncurrent regulatory assets	37,305		32,695
Total noncurrent regulatory assets	$	524,473	$	519,600
Regulatory liability-current
Overrecovered natural gas costs	$	20,630	$	5,510


Derivatives at fair value, net	29,378		22,497
Total current regulatory liabilities	$	50,008	$	28,007
Regulatory liabilities-noncurrent
Tax Act impact (1)	$	186,621	$	190,386
Derivatives at fair value, net	—		1,166

Other noncurrent regulatory liabilities	218		336
Total noncurrent regulatory liabilities	$	186,839	$	191,888

(1)Reflects the re-measurement and subsequent amortization of NJNG's net deferred tax liabilities as a result of the change in federal tax rates enacted in the Tax Act, an Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018, previously known as The Tax Cuts and Jobs Act of 2017.

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


(Thousands)	June 30, 2022		September 30, 2021
Total current regulatory assets	$	—	$	417
Total noncurrent regulatory assets	$	5,083	$	2,499
Total current regulatory liabilities	566		—
Total noncurrent regulatory liabilities	$	3,037	$	1,163

Schedule of Regulatory Assets

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


(Thousands)	June 30, 2022		September 30, 2021
Regulatory assets-current
New Jersey Clean Energy Program	$	17,648	$	16,308
Conservation Incentive Program	23,187		11,839


Other current regulatory assets	1,485		1,554
Total current regulatory assets	$	42,320	$	29,701
Regulatory assets-noncurrent
Environmental remediation costs:
Expended, net of recoveries	$	65,632	$	58,483
Liability for future expenditures	120,597		135,012
Deferred income taxes	40,274		39,694
Derivatives at fair value, net	5,057		—
SAVEGREEN	39,474		32,941
Postemployment and other benefit costs	109,320		117,194
Deferred storm damage costs	2,714		4,343
Cost of removal	104,100		99,238

Other noncurrent regulatory assets	37,305		32,695
Total noncurrent regulatory assets	$	524,473	$	519,600
Regulatory liability-current
Overrecovered natural gas costs	$	20,630	$	5,510


Derivatives at fair value, net	29,378		22,497
Total current regulatory liabilities	$	50,008	$	28,007
Regulatory liabilities-noncurrent
Tax Act impact (1)	$	186,621	$	190,386
Derivatives at fair value, net	—		1,166

Other noncurrent regulatory liabilities	218		336
Total noncurrent regulatory liabilities	$	186,839	$	191,888

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


(Thousands)	June 30, 2022		September 30, 2021
Total current regulatory assets	$	—	$	417
Total noncurrent regulatory assets	$	5,083	$	2,499
Total current regulatory liabilities	566		—
Total noncurrent regulatory liabilities	$	3,037	$	1,163