REGULATION (Tables)

6 Months Ended

Mar. 31, 2024

Regulated Operations [Abstract]

Schedule of Regulatory Assets

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

(Thousands)	March 31, 2024		September 30, 2023
Regulatory assets-current
New Jersey Clean Energy Program	$	6,827	$	15,804
Conservation Incentive Program	55,200		50,356
Derivatives at fair value, net	30,444		6,017
Other current regulatory assets	1,416		1,410
Total current regulatory assets	$	93,887	$	73,587
Regulatory assets-noncurrent
Environmental remediation costs:
Expended, net of recoveries	$	69,229	$	66,298
Liability for future expenditures	157,813		169,390
Deferred income taxes	42,626		41,667
SAVEGREEN	88,496		83,589
Postemployment and other benefit costs	7,936		55,274
Cost of removal	118,900		112,362
Other noncurrent regulatory assets	44,943		51,019
Total noncurrent regulatory assets	$	529,943	$	579,599
Regulatory liability-current
Overrecovered natural gas costs	$	31,628	$	30,637
Total current regulatory liabilities	$	31,628	$	30,637
Regulatory liabilities-noncurrent
Tax Act impact (1)	$	177,838	$	180,347
Other noncurrent regulatory liabilities	438		111
Total noncurrent regulatory liabilities	$	178,276	$	180,458

(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 are comprised of the following:

(Thousands)	March 31, 2024		September 30, 2023
Total noncurrent regulatory assets	$	5,161	$	5,231
Total current regulatory liabilities	$	1,535	$	1,650

Schedule of Regulatory Liabilities

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

(Thousands)	March 31, 2024		September 30, 2023
Regulatory assets-current
New Jersey Clean Energy Program	$	6,827	$	15,804
Conservation Incentive Program	55,200		50,356
Derivatives at fair value, net	30,444		6,017
Other current regulatory assets	1,416		1,410
Total current regulatory assets	$	93,887	$	73,587
Regulatory assets-noncurrent
Environmental remediation costs:
Expended, net of recoveries	$	69,229	$	66,298
Liability for future expenditures	157,813		169,390
Deferred income taxes	42,626		41,667
SAVEGREEN	88,496		83,589
Postemployment and other benefit costs	7,936		55,274
Cost of removal	118,900		112,362
Other noncurrent regulatory assets	44,943		51,019
Total noncurrent regulatory assets	$	529,943	$	579,599
Regulatory liability-current
Overrecovered natural gas costs	$	31,628	$	30,637
Total current regulatory liabilities	$	31,628	$	30,637
Regulatory liabilities-noncurrent
Tax Act impact (1)	$	177,838	$	180,347
Other noncurrent regulatory liabilities	438		111
Total noncurrent regulatory liabilities	$	178,276	$	180,458

(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 are comprised of the following:

(Thousands)	March 31, 2024		September 30, 2023
Total noncurrent regulatory assets	$	5,161	$	5,231
Total current regulatory liabilities	$	1,535	$	1,650