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INVESTMENTS IN EQUITY INVESTEES | 6 Months Ended
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Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract] |
INVESTMENTS IN EQUITY INVESTEES | INVESTMENTS IN EQUITY INVESTEES Investment in equity investees includes NJR's equity method and cost method investments. Equity Method Investments
(Thousands) | March 31, 2014 | September 30, 2013
Steckman Ridge | $ | 129,171 |  | $ | 129,707 |
Iroquois | 23,166 |  | 23,084 |
Total | $ | 152,337 |  | $ | 152,791 |
As of March 31, 2014, the investment in Steckman Ridge includes loans with a total outstanding principal balance of $70.4 million. The loans accrue interest at a variable rate that resets quarterly and are due October 1, 2023. NJRES and NJNG have entered into transportation, storage and park and loan agreements with Steckman Ridge and Iroquois. See Note 14. Related Party Transactions for more information on these intercompany transactions. Cost Method Investments During the fourth quarter of fiscal 2012, NJR invested $8.8 million in OwnEnergy, a developer of on-shore wind projects, for an 18.7 percent ownership interest and the right, but not the obligation, to purchase certain qualified projects. This investment is accounted for in accordance with the cost method of accounting. O n October 11, 2013, NJRCEV acquired the development rights of the Two Dot wind project in Montana, which is its first onshore wind project. NJRCEV expects to invest approximately $22 million to construct the 9.7 MW wind project, which NJRCEV expects to be operational in the third quarter of fiscal 2014. In the second quarter of 2014, NJRCEV acquired the development rights to its second wind project, a $42 million, 20 MW wind farm currently under construction in Carroll County, Iowa, which NJRCEV expects to be operational in the second quarter of fiscal 2015.

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