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INVESTMENTS IN EQUITY INVESTEES | 3 Months Ended
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Dec. 31, 2015
Investments, All Other Investments [Abstract] |
INVESTMENTS IN EQUITY INVESTEES | INVESTMENTS IN EQUITY INVESTEES NJR's investments in equity investees includes the following investments as of:
(Thousands) | December 31, 2015 | September 30, 2015
Steckman Ridge (1) | $ | 125,058 |  | $ | 125,649 |
PennEast | 9,222 |  | 6,353 |
Total | $ | 134,280 |  | $ | 132,002 |
(1) | Includes loans with a total outstanding principal balance of $70.4 million for both December 31, 2015 and September 30, 2015. The loans accrue interest at a variable rate that resets quarterly and are due October 1, 2023.
NJR, through a subsidiary, NJR Pipeline Company, formed PennEast with five other investors, and plans to construct and operate a 118-mile pipeline that will extend from northeast Pennsylvania to western New Jersey. 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 with an estimated service date of November 2017. See Note 14. Related Party Transactions for more information on these intercompany transactions.

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