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INCOME TAXES (Tables) | 12 Months Ended
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Sep. 30, 2018 | Sep. 30, 2017
Income Tax Disclosure [Abstract] |  |
Schedule of Components of Income Tax Provision (Benefit) | The income tax (benefit) provision from operations for the fiscal years ended September 30, consists of the following:
(Thousands) | 2018 | 2017 | 2016
Current: |  |  |
Federal | $ | (2,848 | ) | $ | (16,023 | ) | $ | (23,597 | )
State | 4,563 |  | 2,470 |  | (2,209 | )
Deferred: |  |  |
Federal | (40,785 | ) | 54,965 |  | 70,386 |
State | 6,731 |  | 11,457 |  | 11,441 |
Investment/production tax credits | (21,446 | ) | (34,526 | ) | (32,491 | )
Income tax (benefit) provision | $ | (53,785 | ) | $ | 18,343 |  | $ | 23,530 |
Schedule of Deferred Tax Assets and Liabilities | he temporary differences, which give rise to deferred tax assets and (liabilities), consist of the following:
(Thousands) | 2018 |  | 2017
Deferred tax assets |  |  |
Investment tax credits (1) | $ | 123,258 |  |  | $ | 111,642 |
Deferred service contract revenue | — |  |  | 3,877 |
Incentive compensation | 4,646 |  |  | 6,260 |
Fair value of derivatives | 8,411 |  |  | 11,519 |
Federal net operating losses (2) | 24,500 |  |  | 28,487 |
State net operating losses | 34,754 |  |  | 23,597 |
Amortization of intangibles | 3,737 |  |  | 2,747 |
Conservation incentive plan | 1,955 |  |  | — |
Other | 8,213 |  |  | 11,098 |
Total deferred tax assets | $ | 209,474 |  |  | $ | 199,227 |
Deferred tax liabilities |  |  |
Property related items | $ | (392,886 | ) |  | $ | (620,850 | )
Remediation costs | (9,229 | ) |  | (11,625 | )
Equity investments | (31,956 | ) |  | (38,370 | )
Postemployment benefits | (353 | ) |  | (6,855 | )
Conservation incentive plan | — |  |  | (7,195 | )
Underrecovered gas costs | (1,156 | ) |  | (4,035 | )
Other | (7,826 | ) |  | (16,643 | )
Total deferred tax liabilities | $ | (443,406 | ) |  | $ | (705,573 | )
Total net deferred tax liabilities | $ | (233,932 | ) |  | $ | (506,346 | )
(1) | Includes $2.2 million and $2.3 million for NJNG for fiscal 2018 and 2017, respectively, which is being amortized over the life of the related assets, and$121.1 million and $109.3 million for Clean Energy Ventures for fiscal 2018 and 2017, respectively, which is ITC carryforward.
(2) | See discussion of federal net operating loss utilization in the Other Tax Items section of this note.
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the U.S. federal statutory rate to the effective rate from operations for the fiscal years ended September 30, is as follows:
(Thousands) | 2018 | 2017 | 2016
Statutory income tax expense | $ | 44,014 |  | $ | 52,643 |  | $ | 54,321 |
Change resulting from: |  |  |
Tax Act - nonutility excess deferred income taxes (1) | (59,627 | ) | — |  | — |
Tax Act - utility excess deferred income taxes refunded to customers (1) | (14,323 | ) | — |  | — |
Tax Act - utility excess deferred income taxes amortized (1) | (1,786 | ) | — |  | — |
State income taxes, net of federal benefit | 7,092 |  | 8,222 |  | 6,044 |
Cost of removal of assets placed in service prior to1981 | (5,829 | ) | (6,886 | ) | (5,738 | )
Investment/production tax credits | (21,446 | ) | (34,526 | ) | (32,491 | )
Basis adjustment of solar assets due to ITC | 1,080 |  | 4,256 |  | 4,453 |
AFUDC equity | (2,117 | ) | (2,624 | ) | (1,531 | )
Other | (843 | ) | (2,742 | ) | (1,528 | )
Income tax (benefit) provision | $ | (53,785 | ) | $ | 18,343 |  | $ | 23,530 |
Effective income tax rate (2) (3) | (29.9 | )% | 12.2 | % | 15.2 | %
(1) | For a more detailed description, see The Tax Act section of this note.
(2) | The U.S. federal statutory rate was 24.5 percent for fiscal 2018 and 35 percent for fiscal 2017 and 2016.
(3) | The effective tax rate without the impact of the Tax Act would have been 12.4 percent for fiscal 2018
Schedule of Deferred Tax Liability Due to Tax Act |  | The (decrease) increase of the net deferred tax liability due to the impact of the Tax Act that was recognized on the Consolidated Statements of Operations for the remaining entities, was as follows:
(Thousands) | 2018
Income tax (benefit) provision |
Clean Energy Ventures | $ | (61,423 | )
Energy Services | 6,062 |
Midstream | (13,946 | )
Home Services and Other | 9,680 |
Total | $ | (59,627 | )

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