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INVESTMENTS IN EQUITY INVESTEES | 12 Months Ended
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Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract] |
INVESTMENTS IN EQUITY INVESTEES | INVESTMENTS IN EQUITY INVESTEES As of September 30, NJR’s investments in equity method investees includes the following:
(Thousands) | 2016 | 2015
Steckman Ridge (1) | $ | 123,155 |  | $ | 125,649 |
PennEast | 17,993 |  | 6,353 |
Total | $ | 141,148 |  | $ | 132,002 |
(1)Includes loans with a total outstanding principal balance of $70.4 million for both fiscal 2016 and 2015, which accrue interest at a variable rate that resets quarterly and are due October 1, 2023. NJRES and NJNG have entered into storage and park and loan agreements with Steckman Ridge. In addition, NJNG has entered into a precedent capacity agreement with PennEast, which is estimated to be in service by the first quarter of fiscal 2019 See Note 15. Related Party Transactions for more information on these intercompany transactions. During the fourth quarter of fiscal 2014, NJR, through a subsidiary, NJR Pipeline Company, formed PennEast with four other investors, with another investor joining in October 2014, plans to construct and operate an 118-mile pipeline that will extend from northeast Pennsylvania to western New Jersey.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32787-111569 + Details
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