REGULATION (Tables)

6 Months Ended

Mar. 31, 2018

Regulatory assets and liabilities included on the Unaudited Condensed Consolidated Balance Sheets are comprised of the following:



(Thousands)	March 31, 2018		September 30, 2017
Regulatory assets-current
New Jersey Clean Energy Program	$	5,690	$	14,202
Underrecovered gas costs	7,549		9,910
Derivatives at fair value, net	1,812		9,010
Conservation Incentive Program	—		17,669
Total current regulatory assets	$	15,051	$	50,791
Regulatory assets-noncurrent
Environmental remediation costs
Expended, net of recoveries	$	28,868	$	28,547
Liability for future expenditures	142,474		149,000
Deferred income taxes	16,773		21,795
SAVEGREEN	7,549		16,302
Postemployment and other benefit costs	135,930		141,433
Deferred storm damage costs	11,944		13,030
Other noncurrent regulatory assets	8,614		5,812
Total noncurrent regulatory assets	$	352,152	$	375,919
Regulatory liability-current
Conservation Incentive Program	$	229	$	—
Customer refund payable ⁽¹⁾	28,878		—
Derivatives at fair value, net	62		78
Total current regulatory liabilities	$	29,169	$	78
Regulatory liabilities-noncurrent
Deferred income taxes ⁽²⁾	$	210,500	$	—
Cost of removal obligation	—		7,902
Derivatives at fair value, net	—		146
New Jersey Clean Energy Program	5,914		5,795
Other noncurrent regulatory liabilities	1,096		664
Total noncurrent regulatory liabilities	$	217,510	$	14,507


(1)	Includes the current portion of an adjustment related to the re-measurement of NJNG's net deferred tax liabilities to reflect the change in federal tax rates enacted in the Tax Act, which is net of sales tax collected from customers. For a more detailed discussion of the Tax Act, see Note 11. Income Taxes.


(2)	Includes the long-term portion of an adjustment related to the Tax Act