XML 34 R11.htm IDEA: XBRL DOCUMENT
v3.10.0.1

REGULATION | 3 Months Ended
--- | ---
Dec. 31, 2018
Regulated Operations [Abstract] |
REGULATION | 4. REGULATION NJNG is subject to cost-based regulation, therefore, it is permitted to recover authorized operating expenses and earn a reasonable return on its utility capital investments based on the BPU's approval. The impact of the ratemaking process and decisions authorized by the BPU allows NJNG to capitalize or defer certain costs that are expected to be recovered from its customers as regulatory assets and to recognize certain obligations representing amounts that are probable future expenditures as regulatory liabilities in accordance with accounting guidance applicable to regulated operations. NJNG's recovery of costs is facilitated through its base rates, BGSS and other regulatory tariff riders. NJNG is required to make annual filings to the BPU for review of its BGSS, CIP and various other programs and related rates. Annual rate changes are typically requested to be effective at the beginning of the following fiscal year. All rate and program changes are subject to proper notification and BPU review and approval. In addition, NJNG is also permitted to implement certain BGSS rate changes on an interim basis with proper notification to the BPU. Regulatory assets and liabilities included on the Unaudited Condensed Consolidated Balance Sheets are comprised of the following:
(Thousands) | December 31, 2018 | September 30, 2018
Regulatory assets-current |  |
New Jersey Clean Energy Program | $ | 12,359 |  | $ | 14,052 |
Underrecovered gas costs | 6,149 |  | 4,137 |
Derivatives at fair value, net | 1 |  | 108 |
Total current regulatory assets | $ | 18,509 |  | $ | 18,297 |
Regulatory assets-noncurrent |  |
Environmental remediation costs |  |
Expended, net of recoveries | $ | 32,764 |  | $ | 33,017 |
Liability for future expenditures | 129,556 |  | 130,800 |
Deferred income taxes | 17,842 |  | 17,225 |
SAVEGREEN | 5,888 |  | 8,636 |
Postemployment and other benefit costs | 138,027 |  | 136,716 |
Deferred storm damage costs | 10,315 |  | 10,858 |
Cost of removal | 26,587 |  | 22,339 |
Other noncurrent regulatory assets | 9,045 |  | 9,001 |
Total noncurrent regulatory assets | $ | 370,024 |  | $ | 368,592 |
Regulatory liabilities-current |  |
Conservation Incentive Program | $ | 7,861 |  | $ | 6,994 |
Derivatives at fair value, net | 4,961 |  | 1,191 |
Total current regulatory liabilities | $ | 12,822 |  | $ | 8,185 |
Regulatory liabilities-noncurrent |  |
Tax Act impact (1) | $ | 204,161 |  | $ | 205,410 |
New Jersey Clean Energy Program | 4,722 |  | 1,902 |
Other noncurrent regulatory liabilities | 1,697 |  | 1,827 |
Total noncurrent regulatory liabilities | $ | 210,580 |  | $ | 209,139 |
(1) | Reflects the re-measurement and subsequent amortization of NJNG's net deferred tax liabilities as a result of the change in federal tax rates enacted in the Tax Act.
Regulatory filings and/or actions that occurred during the current fiscal year include the following:
• | On December 18, 2018, the BPU approved a decrease in NJNG's EE recovery rate reflecting costs incurred through December 31, 2018, which will result in an annual decrease of $8.8 million, effective January 1, 2019.
• | On December 28, 2018, NJNG notified the BPU that it will increase the BGSS rate resulting in a $10.9 million increase to the annual revenues credited to BGSS effective February 1, 2019.

X
- Definition The entire disclosure for public utilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 980 -URI http://asc.fasb.org/topic&trid=2156578 + Details
Name: | us-gaap_PublicUtilitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RegulatedOperationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration