REGULATION (Tables)

9 Months Ended

Jun. 30, 2023

Regulated Operations [Abstract]

Schedule of Regulatory Liabilities

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

(Thousands)	June 30, 2023		September 30, 2022
Regulatory assets-current
New Jersey Clean Energy Program	$	17,943	$	15,697
Conservation Incentive Program	52,115		23,099
Derivatives at fair value, net	24,228		—
Other current regulatory assets	1,461		1,290
Total current regulatory assets	$	95,747	$	40,086
Regulatory assets-noncurrent
Environmental remediation costs:
Expended, net of recoveries	$	63,841	$	66,149
Liability for future expenditures	123,070		127,070
Deferred income taxes	41,885		40,520
SAVEGREEN	72,507		52,690
Postemployment and other benefit costs	55,878		56,021
Deferred storm damage costs	543		2,172
Cost of removal	121,147		104,850
Other noncurrent regulatory assets	43,987		45,828
Total noncurrent regulatory assets	$	522,858	$	495,300
Regulatory liability-current
Overrecovered natural gas costs	$	26,717	$	17,807
Derivatives at fair value, net	57		7,972
Total current regulatory liabilities	$	26,774	$	25,779
Regulatory liabilities-noncurrent
Tax Act impact (1)	$	181,602	$	185,367
Derivatives at fair value, net	91		116
Other noncurrent regulatory liabilities	121		151
Total noncurrent regulatory liabilities	$	181,814	$	185,634

(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. The Tax Act is 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, 2023		September 30, 2022
Total noncurrent regulatory assets	$	5,256	$	5,366
Total current regulatory liabilities	$	927	$	5,311

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, 2023		September 30, 2022
Regulatory assets-current
New Jersey Clean Energy Program	$	17,943	$	15,697
Conservation Incentive Program	52,115		23,099
Derivatives at fair value, net	24,228		—
Other current regulatory assets	1,461		1,290
Total current regulatory assets	$	95,747	$	40,086
Regulatory assets-noncurrent
Environmental remediation costs:
Expended, net of recoveries	$	63,841	$	66,149
Liability for future expenditures	123,070		127,070
Deferred income taxes	41,885		40,520
SAVEGREEN	72,507		52,690
Postemployment and other benefit costs	55,878		56,021
Deferred storm damage costs	543		2,172
Cost of removal	121,147		104,850
Other noncurrent regulatory assets	43,987		45,828
Total noncurrent regulatory assets	$	522,858	$	495,300
Regulatory liability-current
Overrecovered natural gas costs	$	26,717	$	17,807
Derivatives at fair value, net	57		7,972
Total current regulatory liabilities	$	26,774	$	25,779
Regulatory liabilities-noncurrent
Tax Act impact (1)	$	181,602	$	185,367
Derivatives at fair value, net	91		116
Other noncurrent regulatory liabilities	121		151
Total noncurrent regulatory liabilities	$	181,814	$	185,634

(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. The Tax Act is 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, 2023		September 30, 2022
Total noncurrent regulatory assets	$	5,256	$	5,366
Total current regulatory liabilities	$	927	$	5,311