8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 27, 2005

NEW JERSEY RESOURCES CORPORATION

(Exact name of registrant as specified in its charter)

New Jersey	1-8359	22-2376465
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

1415 Wyckoff Road
Wall, New Jersey
(Address of principal executive	07719
offices)	(Zip Code)

(732) 938-1480

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

EX-99.01: PRESS RELEASE

Section 2 — Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition

On July 27, 2005, the Registrant issued a press release regarding its third quarter fiscal 2005 results. The Registrant is filing this press release as Exhibit 99.

Section 9 — Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

(a) (a) None.

(b) (b) None.

(c) (c) Exhibits:

Exhibit 99.01: Press Release dated July 27, 2005

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NEW JERSEY RESOURCES CORPORATION
Date: July 27, 2005		By:	/s/Glenn C. Lockwood
			Glenn C. Lockwood
			Senior Vice President,
			Chief Financial Officer
			and Treasurer

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

EXHIBIT INDEX

Exhibit Description

99.01: Press Release Entitled: NJR REPORTS FISCAL YEAR-TO-DATE AND THIRD-QUARTER EARNINGS PER SHARE

Fiscal 2005 year-to-date earnings increase 8 percent over last year

Earnings guidance for fiscal 2005 affirmed

Company on track for 14th consecutive year of earnings growth

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

EX-99.01

Exhibit 99.01

DATE: July 27, 2005	CONTACTS:	Michael Kinney (media)
		732-938-1031
		or
		Dennis Puma (investors)
		732-938-1229

NJR REPORTS FISCAL YEAR-TO-DATE AND
THIRD-QUARTER EARNINGS PER SHARE

Fiscal 2005 year-to-date earnings increase 8 percent over last year

Earnings guidance for fiscal 2005 affirmed

Company on track for 14th consecutive year of earnings growth

WALL, N.J. – New Jersey Resources (NYSE: NJR) today reported an 8 percent increase in basic earnings per share for the nine months ended June 30, 2005, to $3.03, compared with $2.80 last year. On a diluted basis, earnings per share for the nine months ended June 30, 2005, increased to $2.97, compared with $2.74 last year. The increase in earnings for the nine-month period is attributable primarily to higher results at both NJR Energy Services (NJRES), NJR’s unregulated wholesale energy services subsidiary, and NJR Home Services (NJRHS), NJR’s unregulated appliance services subsidiary. Fiscal year-to-date earnings included a $.22 per basic share gain on the sale of a commercial office building and a charge of $.05 per basic share associated with an early retirement program for officers. Net of these items, NJR’s earnings were $79.2 million, or $2.87 per basic share and $2.81 per diluted share.

Fiscal third-quarter basic and diluted earnings per share increased to $.07, compared with $.06 last year. The increase in earnings for the 3-month period is attributable primarily to higher results at both New Jersey Natural Gas (NJNG), NJR’s principal subsidiary, and NJRHS.

“Focusing on our core energy business in New Jersey — coupled with our profitable energy services business – is the key to our consistently solid financial performance,” said Laurence M. Downes, chairman and CEO of NJR.

“Based on our results over the first nine months of the fiscal year and our earnings guidance, we expect to achieve our 14th consecutive year of earnings growth — a streak that we believe is the longest in our industry,” Downes added. “As always, the credit for today’s good news goes to our employees. Their dedication is what drives our ability to meet our commitment to all our stakeholders.”

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NJR REPORTS FISCAL YEAR-TO-DATE
AND THIRD-QUARTER EARNINGS PER SHARE
Page 2 of 11

Financial and operating highlights included:

•

Higher Net Income and Basic Earnings per Share — For the nine months ended June 30, 2005, NJR earned $83.7 million, or $3.03 per basic share, compared with $77 million, or $2.80 per basic share, last year. Earnings for the 9-month period included a gain on the sale of a commercial office building of $.22 per basic share by NJR’s commercial real estate subsidiary, Commercial Realty and Resources (CR&R), and a charge of $.05 per basic share associated with a voluntary officer retirement program as part of an overall management restructuring plan for the organization. NJNG earned $57 million for the 9-month period ended June 30, 2005, compared with $58.2 million last year. This decrease was due primarily to NJNG’s share of the early retirement charge and the impact of lower customer usage per degree day. The company believes that the lower usage per degree day was due primarily to inconsistent weather patterns and the impact of higher wholesale natural gas prices. NJRES reported earnings of $18.7 million, compared with $17.8 million last year. The increase was due primarily to higher gross margin from its portfolio of storage and transportation capacity assets, as well as higher management fees. Gross margin for NJRES is defined as natural gas revenues and management fees less natural gas costs.

NJR earned $1.8 million, or $.07 per basic share, for the three months ended June 30, 2005, compared with $1.6 million, or $.06 per share, for the same period last year. These earnings primarily reflect improved quarterly results at NJNG and NJRHS.

•

Customer Growth — During the first nine months of the fiscal year, NJNG added approximately 1.3 billion cubic feet (Bcf) of throughput to new and existing customers, which is expected to generate about $3.9 million in annual gross margin. NJNG anticipates maintaining an annual customer growth rate of about 2.4 percent in fiscal 2005, adding approximately 1.8 Bcf of firm sales, which would represent about $5.5 million of annual gross margin. About one-third of the anticipated new customers are expected to convert from other fuels.

NJNG’s gross margin is defined as natural gas revenues less natural gas costs; sales tax; a Transitional Energy Facilities Assessment (TEFA), which is included in Energy and other taxes on the Consolidated Statements of Income; and regulatory rider expenses. Management believes that gross margin provides a more meaningful basis for evaluating utility operations than revenue since natural gas costs, sales tax, TEFA and regulatory rider expenses are passed through to customers, and therefore have no effect on gross margin. Natural gas costs are charged to operating expenses on the basis of therm sales at the prices approved by the New Jersey Board of Public Utilities through NJNG’s Basic Gas Supply Service (BGSS) tariff. The BGSS allows NJNG to recover natural gas costs. Sales tax is calculated at 6 percent of revenue and excludes sales to cogeneration facilities, other utilities, off-system sales and federal accounts. TEFA is calculated on a per-therm basis and excludes sales to cogeneration facilities, other utilities and off-system sales. Regulatory rider expenses are calculated on a per-therm basis. NJNG’s gross margin also includes benefits received by shareowners related to its incentive programs.

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NJR REPORTS FISCAL YEAR-TO-DATE
AND THIRD-QUARTER EARNINGS PER SHARE
Page 3 of 11

• Weather — For the nine months ended June 30, 2005, weather was 2.3 percent colder than normal and 2.7 percent colder than last year. Weather for the third quarter was normal and 31 percent colder than last year. “Normal” weather is based on 20-year average temperatures. The impact of the weather is significantly offset by NJNG’s weather-normalization clause, which is designed to smooth out year-to-year fluctuations on both NJNG’s gross margin and customers’ bills that may result from changing weather patterns. As a result of the colder-than-normal weather, NJNG deferred $2.1 million of gross margin for the nine months ended June 30, 2005, to be credited to customers in the future. Gross margin was negatively impacted by lower than expected usage per degree day. The company believes that this resulted primarily from inconsistent weather patterns experienced during the winter and the impact of higher wholesale natural gas prices.

• Incentive Programs — During the first nine months of the fiscal year, NJNG’s gross margin-sharing incentive programs totaled 38.7 Bcf and $4.8 million of gross margin, compared with 37 Bcf and $4.8 million of gross margin for the same period last year. These incentive programs include off-system sales, capacity management, storage optimization and financial risk management programs. NJNG shares the gross margin earned from these incentive programs with customers and shareowners according to a margin-sharing formula in effect through October 2006. Since the establishment of these incentive programs in 1992, NJNG customers have saved nearly $260 million on their natural gas bills, or approximately 4 percent annually.

•

Wholesale Energy Services — NJRES earned $18.7 million during the first nine months of the fiscal year compared with $17.8 million last year. NJRES has developed a portfolio of storage and transportation capacity in the Northeast, Gulf Coast, Mid-Continent, Appalachia and Eastern Canada. These assets become more valuable when prices change between these areas and/or time periods. Gross margin from this portfolio is generally greater during the winter months, while the fixed costs of these assets are spread throughout the year. Therefore, consistent with this seasonality, a loss in the third and fourth fiscal quarters is anticipated. Accordingly, the results for the nine months are not indicative of the results for the fiscal year.

For the three months ended June 30, 2005, NJRES had a net loss of $3.3 million, compared with a loss of $2.7 million last year. The larger loss in the quarter reflects NJRES’ growing portfolio of capacity contracts, the increased amount of demand costs and interest expense associated with this storage and transportation portfolio. NJRES expects to contribute between 15 and 20 percent of NJR’s consolidated earnings in fiscal 2005.

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NJR REPORTS FISCAL YEAR-TO-DATE AND
THIRD-QUARTER EARNINGS PER SHARE
Page 4 of 11

• Stagecoach Storage Project — Shortly after the end of the third quarter, Inergy, L.P. entered into a definitive agreement to acquire the Stagecoach Storage Project (Stagecoach). Closing on the transaction is expected by the end of August 2005. This transaction would terminate NJRES’ existing marketing agreement with Stagecoach, including the related obligation of guaranteeing a certain level of revenue, and NJRES would recover all outstanding receivables. On July 8, 2005, NJRES entered into a Letter of Intent with Inergy, L.P. to provide services, including base gas, natural gas supplies and optimization of firm storage for the Stagecoach.

• NJRHS and Other — This business segment consists of NJRHS, which provides service, sales and installation of appliances to nearly 140,000 customers; CR&R, which develops commercial real estate; and NJR Energy (NJRE), which consists primarily of a 5.53 percent equity investment in Iroquois Gas Transmission System, L.P.(Iroquois). Earnings for the nine months ended June 30, 2005, were $8 million, compared with $959,000 last year. Fiscal year-to-date earnings included a gain on the sale of a commercial office building of approximately $6 million, or $.22 per basic share. Net of this gain and this segment’s portion of the early retirement charge, earnings for the nine months increased to $2.6 million, compared with $959,000 last year. Earnings for the three months were $1.3 million, compared with $526,000 last year. The increase in both periods was due primarily to improved results at both NJRHS and NJRE.

• Iroquois Investment Increased — In May 2005, NJR utilized its right of first refusal to invest $8.7 million to increase its equity interest in Iroquois from 3.28 percent to 5.53 percent. Iroquois is a 375-mile natural gas pipeline from the Canadian border to Long Island.

• Share Repurchase Plan — NJR purchased 547,400 shares under the share repurchase plan in the nine months ended June 30, 2005. In January 2005, the NJR Board of Directors authorized an increase in the company’s share repurchase plan from 2 million to 2.5 million shares. The plan authorizes NJR to purchase its shares on the open market or in negotiated transactions, based on market and other conditions. Since the plan began in September 1996, NJR has invested $81 million to repurchase 2.2 million shares.

• Operation and Maintenance Expenses — Consolidated operation and maintenance (O&M) expenses were $77.8 million for the nine months ended June 30, 2005, compared with $76.6 million last year. The increase was due primarily to costs associated with the early retirement program for officers. For the quarter, O&M expenses were $24.3 million versus $24.9 million last year.

Fiscal 2005 Earnings Guidance

Assuming normal weather, stable economic conditions and continued customer growth at NJNG and continued volatility in the wholesale natural gas markets at NJRES, and subject to the qualifications discussed below under “Forward-Looking Statements,” NJR estimates that earnings for fiscal 2005 will be in the $2.65–$2.75 per basic share range. This guidance excludes the gain on the sale of a commercial real estate building of $.22 per basic share and the charge of $.05 per basic share associated with the early retirement program.

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NJR REPORTS FISCAL YEAR-TO-DATE AND
THIRD-QUARTER EARNINGS PER SHARE
Page 5 of 11

Webcast Information

NJR will host a live webcast to discuss the quarter’s financial results today at 1 p.m. EDT. To listen to the call, logon to NJR’s Web site, njliving.com, and select “Investor Relations,” then click just below the microphone on the right side of the Investor Relations home page.

About New Jersey Resources

New Jersey Resources (NYSE:NJR), a Fortune 1000 company and a member of the Forbes Platinum 400, provides reliable retail and wholesale energy services to customers in New Jersey and in states from the Gulf Coast to New England, and Canada. Its principal subsidiary, New Jersey Natural Gas, is one of the fastest-growing local distribution companies in the United States, serving more than 459,000 customers in central and northern New Jersey. Other major NJR subsidiaries include NJR Energy Services and NJR Home Services. NJR Energy Services is a leader in the unregulated energy services market, providing customer service and management of natural gas storage and capacity assets. NJR Home Services offers retail customers heating, air conditioning and appliance services. NJR’s progress is a tribute to the more than 5,000 dedicated employees who have shared their expertise and focus on quality through more than 50 years of serving customers and the community to make NJR a leader in the competitive energy marketplace. For more information, visit NJR’s Web site at njliving.com.

Forward-Looking Statements

This news release contains estimates and other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. NJR cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond NJR’s ability to control or estimate precisely, such as estimates of future market conditions and the behavior of other market participants. Other factors that could cause actual results, including gross margin, earnings and customer growth, to differ materially from the company’s expectations include, but are not limited to, weather, economic conditions and demographic changes in NJNG’s service territory, rate of customer growth, volatility of natural gas commodity prices, the impact of the company’s risk management efforts, including commercial and wholesale credit risks, the impact of regulation (including the regulation of rates), fluctuations in energy-related commodity prices, conversion activity, other marketing efforts, actual energy usage patterns of NJNG’s customers, the pace of deregulation of retail gas markets, access to adequate supplies of natural gas, the regulatory and pricing policies of federal and state regulatory agencies, changes due to legislation at the federal and state level, the disallowance of recovery of environmental remediation expenditures and other regulatory changes, the resolution of the Stagecoach matter, environmental and other litigation and other uncertainties. More detailed information about these factors is set forth in NJR’s filings with the Securities and Exchange Commission, including NJR’s Quarterly Report on Form 10-Q filed on May 6, 2005. NJR’s Form 10-Q is available at www.sec.gov. NJR does not, by including this paragraph, assume any obligation to review or revise any particular forward-looking statement referenced herein in light of future events.

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NJR REPORTS FISCAL YEAR-TO-DATE AND
THIRD-QUARTER EARNINGS PER SHARE
Page 6 of 11

NEW JERSEY RESOURCES
CONSOLIDATED FINANCIAL RESULTS

(Unaudited)	Three Months Ended				Nine Months Ended
Thousands, except per share data	June 30,				June 30,
	2005		2004		2005		2004
Operating Revenues	$	544,280	$	438,503	$	2,463,325	$	2,119,210
Net Income	$	1,835	$	1,554	$	83,702	$	76,959
Earnings Per Common Share
Basic	$	.07	$	.06	$	3.03	$	2.80
Diluted	$	.07	$	.06	$	2.97	$	2.74
Average Shares Outstanding
Basic		27,468		27,588		27,616		27,469
Diluted		28,079		28,166		28,198		28,040

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Page 7 of 11
NEW JERSEY RESOURCES
ADJUSTED NET INCOME AND EARNINGS PER SHARE RECONCILIATION

Provided below is a reconciliation of as reported and as adjusted information for Net Income and basic and diluted earnings per share. This reconciliation reflects the impact of a gain on the sale of a commercial office building and a charge related to an early retirement program for officers.

Management believes that this reconciliation is needed due to the unusual nature of the two items described above and that they are not indicative of core results. It also provides for a more consistent comparison for year-over-year results.

(Unaudited)	Nine Months Ended
(Thousands, except per share data)	June 30, 2005
	NJNG		NJRES		NJRHS and			Total
					Other
Net Income, as reported	$	56,959	$	18,692	$	8,051		$	83,702
Exclude:
Gain on sale of commercial office building, net of tax						(5,972	)		(5,972	)
Charge for early retirement program, net of tax		915		8		569			1,492
Net Income, as adjusted	$	57,874	$	18,700	$	2,648		$	79,222
Earnings per share basic, as reported								$	3.03
Exclude:
Gain on sale of commercial office building, net of tax									(.22	)
Charge for early retirement program, net of tax									.05
* Earnings per share basic, as adjusted								$	2.87
Earnings per share diluted, as reported								$	2.97
Exclude:
Gain on sale of commercial office building, net of tax									(.21	)
Charge for early retirement program, net of tax									.05
Earnings per share diluted, as adjusted								$	2.81

* Amount does not foot due to rounding.

Page 8 of 11
NEW JERSEY RESOURCES
CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)
(Thousands, except per share data)

	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2005		2004		2005		2004
OPERATING REVENUES	$	544,280	$	438,503	$	2,463,325	$	2,119,210
OPERATING EXPENSES
Gas purchases		492,036		391,474		2,133,386		1,830,467
Operation and maintenance		24,298		24,947		77,834		76,603
Regulatory rider expenses		4,793		1,356		28,707		8,326
Depreciation and amortization		8,424		8,113		25,135		24,649
Energy and other taxes		8,878		7,541		50,489		44,828
Total operating expenses		538,429		433,431		2,315,551		1,984,873
OPERATING INCOME		5,851		5,072		147,774		134,337
Other income		1,659		1,054		4,823		2,985
Interest charges, net		4,897		3,648		14,968		10,992
INCOME BEFORE INCOME TAXES		2,613		2,478		137,629		126,330
Income tax provision		778		924		53,927		49,371
NET INCOME	$	1,835	$	1,554	$	83,702	$	76,959
EARNINGS PER COMMON SHARE
BASIC	$	0.07	$	0.06	$	3.03	$	2.80
DILUTED	$	0.07	$	0.06	$	2.97	$	2.74
DIVIDENDS PER COMMON SHARE	$	0.340	$	0.325	$	1.02	$	0.975
AVERAGE SHARES OUTSTANDING
BASIC		27,468		27,588		27,616		27,469
DILUTED		28,079		28,166		28,198		28,040

Page 9 of 11

NEW JERSEY RESOURCES

	Three Months Ended						Nine Months Ended
(Unaudited)	June 30,						June 30,
(Thousands, except per share data)	2005			2004			2005			2004
Operating Revenues
New Jersey Natural Gas	$	174,761		$	159,406		$	957,807		$	811,247
NJR Energy Services		362,727			273,578			1,476,519			1,292,171
NJR Home Services and Other		6,816			5,544			29,072			15,864
Sub-total		544,304			438,528			2,463,398			2,119,282
Intercompany Eliminations		(24	)		(25	)		(73	)		(72	)
Total	$	544,280		$	438,503		$	2,463,325		$	2,119,210
Operating Income
New Jersey Natural Gas	$	8,865		$	8,911		$	101,014		$	101,583
NJR Energy Services		(4,926	)		(4,593	)		33,817			31,748
NJR Home Services and Other		1,912			754			12,943			1,006
Total	$	5,851		$	5,072		$	147,774		$	134,337
Net Income
New Jersey Natural Gas	$	3,868		$	3,773		$	56,959		$	58,156
NJR Energy Services		(3,314	)		(2,745	)		18,692			17,844
NJR Home Services and Other		1,281			526			8,051			959
Total	$	1,835		$	1,554		$	83,702		$	76,959
Throughput (Bcf)
NJNG, Core Customers		11.1			11.4			64.3			64.2
NJNG, Incentive Programs		10.1			10.3			38.7			37.0
NJRES Fuel Mgmt. and Wholesale Sales		49.6			43.4			202.2			213.6
Total		70.8			65.1			305.2			314.8
Common Stock Data
Yield at June 30		2.8	%		3.1	%		2.8	%		3.1	%
Market Price
High	$	48.42		$	42.00		$	48.42		$	42.00
Low	$	42.63		$	36.50		$	40.54		$	35.76
Close at June 30	$	48.25		$	41.58		$	48.25		$	41.58
Shares Out. at June 30		27,485			27,614			27,485			27,614
Market Cap. at June 30	$	1,326,151		$	1,148,190		$	1,326,151		$	1,148,190

Page 10 of 11

NEW JERSEY NATURAL GAS

	Three Months Ended				Nine Months Ended
(Unaudited)	June 30,				June 30,
(Thousands, except customer & weather data)	2005		2004		2005		2004
Operating Revenues
Residential	$	85,247	$	72,309	$	521,486	$	455,811
Commercial, Industrial & Other		20,405		16,759		131,138		107,619
Firm Transportation		5,669		5,325		25,393		24,354
Total Firm Revenues		111,321		94,393		678,017		587,784
Interruptible		3,232		3,053		9,343		5,772
Total System Revenues		114,553		97,446		687,360		593,556
Incentive Programs		60,208		61,960		270,447		217,691
TOTAL REVENUES	$	174,761	$	159,406	$	957,807	$	811,247
Gross Margin and Operating Income
Residential	$	25,188	$	25,556	$	134,510	$	134,585
Commercial, Industrial & Other		4,798		4,689		25,621		25,455
Firm Transportation		4,660		4,667		19,465		20,698
Total Firm Margin		34,646		34,912		179,596		180,738
Interruptible		264		380		831		881
Total System Margin		34,910		35,292		180,427		181,619
Incentive Programs		799		1,088		4,807		4,792
TOTAL GROSS MARGIN		35,709		36,380		185,234		186,411
Operation and maintenance expense		17,964		18,809		57,461		58,626
Depreciation and amortization		8,243		7,946		24,547		24,148
Other taxes not reflected in gross margin		637		714		2,212		2,054
OPERATING INCOME	$	8,865	$	8,911	$	101,014	$	101,583
Throughput (Bcf)
Residential		6.2		5.8		40.6		41.1
Commercial, Industrial & Other		1.5		1.3		10.4		9.9
Firm Transportation		1.2		1.2		7.0		7.6
Total Firm Throughput		8.9		8.3		58.0		58.6
Interruptible		2.2		3.1		6.3		5.6
Total System Throughput		11.1		11.4		64.3		64.2
Incentive Programs		10.1		10.3		38.7		37.0
TOTAL THROUGHPUT		21.2		21.7		103.0		101.2
Customers
Residential		417,639		408,562		417,639		408,562
Commercial, Industrial & Other		29,234		27,937		29,234		27,937
Firm Transportation		14,622		15,345		14,622		15,345
Total Firm Customers		461,495		451,844		461,495		451,844
Interruptible		50		50		50		50
Total System Customers		461,545		451,894		461,545		451,894
Incentive Programs		36		31		36		31
TOTAL CUSTOMERS		461,581		451,925		461,581		451,925

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NEW JERSEY NATURAL GAS

		Three Months Ended							Nine Months Ended
(Unaudited)		June 30,							June 30,
(Thousands, except customer & weather data)		2005				2004			2005			2004
Degree Days
Actual			584				446			4,911			4,786
Normal			584				565			4,803			4,813
Percent of Normal			100.0	%			78.9	%		102.2	%		99.4	%
NJR ENERGY SERVICES
Operating Revenues		$	362,727			$	273,578		$	1,476,519		$	1,292,171
Gas Purchases			365,136				276,151			1,435,740			1,255,229
Gross Margin	(	$	2,409	)	(	$	2,573	)	$	40,779		$	36,942
Operating Income	(	$	4,926	)	(	$	4,593	)	$	33,817		$	31,748
Net Income	(	$	3,314	)	(	$	2,745	)	$	18,692		$	17,844
Gas Sold and Managed (Bcf)			49.6				43.4			202.2			213.6
NJR HOME SERVICES AND OTHER
Operating Revenues		$	6,816			$	5,544		$	29,072		$	15,864
Operating Income		$	1,912			$	754		$	12,943		$	1,006
Net Income		$	1,281			$	526		$	8,051		$	959
Total Customers at June 30			144,463				141,817			144,463			141,817

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05-79