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DEBT (Tables)
 12 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
The following table presents the long-term debt of the Company as of September 30:
(Thousands)20232022
NJNG
First mortgage bonds:Maturity date:
Series OO3.00%August 1, 204146,500 46,500 
Series PP3.15%April 15, 202850,000 50,000 
Series QQ3.58%March 13, 202470,000 70,000 
Series RR4.61%March 13, 204455,000 55,000 
Series SS2.82%April 15, 202550,000 50,000 
Series TT3.66%April 15, 2045100,000 100,000 
Series UU3.63%June 21, 2046125,000 125,000 
Series VV4.01%May 11, 2048125,000 125,000 
Series WW3.50%April 1, 204210,300 10,300 
Series XX3.38%April 1, 203810,500 10,500 
Series YY2.45%April 1, 205915,000 15,000 
Series ZZ3.76%July 17, 2049100,000 100,000 
Series AAA3.86%July 17, 205985,000 85,000 
Series BBB2.75%August 1, 20399,545 9,545 
Series CCC3.00%August 1, 204341,000 41,000 
Series DDD3.13%June 30, 205050,000 50,000 
Series EEE3.13%July 23, 205050,000 50,000 
Series FFF3.33%July 23, 206025,000 25,000 
Series GGG2.87%September 1, 205025,000 25,000 
Series HHH2.97%September 1, 206050,000 50,000 
Series III2.97%October 28, 205150,000 50,000 
Series JJJ3.07%October 28, 206150,000 50,000 
Series LLL4.37%May 27, 203750,000 50,000 
Series MMM4.71%May 27, 205250,000 50,000 
Series NNN5.47%October 24, 2052125,000 — 
Series OOO5.56%September 28, 203350,000 — 
Meter financing obligationVarious dates31,352 30,290 
Less: Debt issuance costs(9,770)(9,528)
Less: Current maturities of long-term debt(78,477)(6,538)
Total NJNG long-term debt1,410,950 1,307,069 
NJR
Unsecured senior notes3.20%August 18, 2023— 50,000 
Unsecured senior notes3.48%November 7, 2024100,000 100,000 
Unsecured senior notes3.54%August 18, 2026100,000 100,000 
Unsecured senior notes3.96%June 8, 2028100,000 100,000 
Unsecured senior notes3.29%July 17, 2029150,000 150,000 
Unsecured senior notes3.60%July 23, 2032130,000 130,000 
Unsecured senior notes3.50%July 23, 2030130,000 130,000 
Unsecured senior notes3.25%September 1, 203380,000 80,000 
Unsecured senior notes3.13%September 1, 2031120,000 120,000 
Unsecured senior notes4.38%June 23, 2027110,000 110,000 
Unsecured senior notes3.64%September 19, 203450,000 50,000 
Unsecured senior notes6.14%December 15, 203250,000 — 
Less: Debt issuance costs(3,656)(3,753)
Less: Current maturities of long-term debt— (50,000)
Total NJR long-term debt1,116,344 1,066,247 
CEV
Solar asset financing obligationVarious dates278,401 130,618 
Less: Current maturities of long-term debt(37,678)(18,532)
Total CEV long-term debt240,723 112,086 
Total long-term debt$2,768,017 $2,485,402 
Schedule of Long-term Debt Redemption Requirements
Annual long-term debt redemption requirements, excluding meter financing obligations, debt issuance costs and solar asset financing obligations, as of September 30, are as follows:
(Thousands)20242025202620272028Thereafter
NJR$— $100,000 $100,000 $110,000 $100,000 $710,000 
NJNG$70,000 $50,000 $— $— $50,000 $1,297,845 
Finance Lease Liability, Maturity
Contractual commitments for meter financing obligation payments, which include the most likely outcome of cash payments to the lessor, as of the fiscal years ended September 30, are as follows:
(Thousands)20242025202620272028ThereafterSubtotal
Lease Payments$9,362 7,479 6,407 4,083 4,715 1,676 $33,722 
Less: Interest component(2,370)
Total$31,352 
The following table presents the Company’s maturities of lease liabilities as of September 30, 2023:
(Thousands)OperatingFinance
2024$7,913 $9,362 
20257,875 7,479 
20267,799 6,407 
20277,743 4,083 
20287,803 4,715 
Thereafter213,927 1,676 
Total future payments253,060 33,722 
Less: interest
(100,265)(2,370)
Total liability$152,795 $31,352 
Schedule of Contractual Commitments for Finance Lease Payments
Contractual commitments for the solar asset financing obligation payments, as of the fiscal years ended September 30, are as follows:
(Thousands)20242025202620272028ThereafterSubtotal
Lease Payments$54,033 50,663 13,875 16,385 26,392 87,881 $249,229 
Less: Interest component(42,942)
Total$206,287 
Schedule of Line of Credit Facilities
The following table summarizes NJR’s credit facility and NJNG’s commercial paper program and credit facility as of September 30:
At end of period
(Thousands)Total borrowing capacityLoans outstandingWeighted average interest rateRemaining borrowing capacityExpiration dates
2023
NJR
Bank revolving credit facilities (1)
$650,000 $217,300 6.53 %$426,967 (2)Sep 2027
NJNG
Bank revolving credit facilities (3)
$250,000 $34,800 5.48 %$214,469 (4)Sep 2027
2022
NJR
Bank revolving credit facilities (1)
$650,000 $200,150 3.97 %$440,177 (2)Sep 2027
Bank term loan credit agreement$150,000 $150,000 3.81 %$— Feb 2023
NJNG
Bank revolving credit facilities (3)
$250,000 $73,800 3.34 %$175,469 (4)Sep 2027
(1)Committed credit facilities, which require commitment fees of 0.10% on the unused amounts.
(2)Letters of credit outstanding total $5.7M and $9.7M as of September 30, 2023 and September 30, 2022, respectively, which reduces amount available by the same amount.
(3)Committed credit facilities, which require commitment fees of 0.075% on the unused amounts.
(4)Letters of credit outstanding total $0.7M as of both September 30, 2023 and 2022, which reduces amount available by the same amount.