DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional amounts of outstanding derivative positions

As of December 31, 2014, SJI's active interest rate swaps were as follows:

Notional Amount		Fixed Interest Rate	Start Date	Maturity	Type of Debt	Obligor
$	14,500,000	3.905%	3/17/2006	1/15/2026	Tax-exempt	Marina
$	500,000	3.905%	3/17/2006	1/15/2026	Tax-exempt	Marina
$	330,000	3.905%	3/17/2006	1/15/2026	Tax-exempt	Marina
$	7,100,000	4.895%	2/1/2006	2/1/2016	Taxable	Marina
$	12,500,000	3.430%	12/1/2006	2/1/2036	Tax-exempt	SJG
$	12,500,000	3.430%	12/1/2006	2/1/2036	Tax-exempt	SJG

Fair value of derivative instruments

The fair values of all derivative instruments, as reflected in the consolidated balance sheets as of December 31, are as follows (in thousands):

Derivatives not designated as hedging instruments under GAAP	2014				2013
	Assets		Liabilities		Assets		Liabilities
Energy related commodity contracts:
Derivatives – Energy Related – Current	85,368		109,744		$	56,327	$	77,993
Derivatives – Energy Related – Non-Current	13,905		19,926		26,451		22,131
Interest rate contracts:
Derivatives - Other	—		10,732		—		6,676
Total derivatives not designated as hedging instruments under GAAP	99,273		140,402		82,778		106,800
Total Derivatives	$	99,273	$	140,402	$	82,778	$	106,800

Offsetting arrangements

As of December 31, 2014 and2013, information related to these offsetting arrangements were as follows (in thousands):

As of December 31, 2014
Description	Gross amounts of recognized assets/liabilities		Gross amount offset in the balance sheet	Net amounts of assets/liabilities in balance sheet			Gross amounts not offset in the balance sheet				Net amount
							Financial Instruments			Cash Collateral Posted
Derivatives - Energy Related Assets	99,273		—	$	99,273		(39,747	)	(A)	—	$	59,526
Derivatives - Energy Related Liabilities	(129,670	)	—	$	(129,670	)	39,747		(B)	53,897	$	(36,026	)
Derivatives - Other	(10,732	)	—	$	(10,732	)	—			—	$	(10,732	)

As of December 31, 2013
Description	Gross amounts of recognized assets/liabilities		Gross amount offset in the balance sheet	Net amounts of assets/liabilities in balance sheet			Gross amounts not offset in the balance sheet					Net amount
							Financial Instruments			Cash Collateral Posted
Derivatives - Energy Related Assets	82,778		—	$	82,778		(28,082	)	(A)	(498	)	$	54,198
Derivatives - Energy Related Liabilities	(100,124	)	—	$	(100,124	)	28,082		(B)	29,639		$	(42,403	)
Derivatives - Other	(6,676	)	—	$	(6,676	)	—			—		$	(6,676	)

(A) The balances at December 31, 2014 and 2013 were related to derivative liabilities which can be net settled against derivative assets.

(B) The balances at December 31, 2014 and 2013 were related to derivative assets which can be net settled against derivative liabilities.

Derivatives in cash flow hedging relationships

The effect of derivative instruments on the consolidated statements of income and comprehensive income for the year ended December 31 is as follows (in thousands):

Derivatives in Cash Flow Hedging Relationships	2014			2013			2012
Interest Rate Contracts:
Losses recognized in AOCL on effective portion	$	—		$	—		$	(752	)
Losses reclassified from AOCL into income (a)	$	(419	)	$	(448	)	$	(594	)
Losses recognized in income on ineffective portion (a)	—			—			—

(a) Included in Interest Charges

Derivatives Not Designated as Hedging Instruments under GAAP	2014			2013			2012
Losses on energy related commodity contracts (a)	$	(6,592	)	$	(25,823	)	$	(193	)
(Losses) gains on interest rate contracts (b)	(467		)	2,760			660
Total	$	(7,059	)	$	(23,063	)	$	467

(a)  Included in Operating Revenues - Non Utility

(b)  Included in Interest Charges