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REGULATION (Tables) | 12 Months Ended
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Sep. 30, 2020
Regulated Operations [Abstract] |
Schedule of Regulatory Assets | Regulatory assets and liabilities included on the Consolidated Balance Sheets as of September 30, are composed of the following:
(Thousands) | 2020 | 2019
Regulatory assets-current |  |
New Jersey Clean Energy Program | $ | 15,570 |  | $ | 15,468 |
Conservation Incentive Program | 19,120 |  | 3,371 |
Underrecovered natural gas costs | — |  | 9,506 |
Derivatives at fair value, net | — |  | 4,526 |
Other current regulatory assets | 1,682 |  | — |
Total current regulatory assets | $ | 36,372 |  | $ | 32,871 |
Regulatory assets-noncurrent |  |
Environmental remediation costs: |  |
Expended, net of recoveries | $ | 36,516 |  | $ | 38,351 |
Liability for future expenditures | 150,590 |  | 131,080 |
Deferred income taxes | 28,241 |  | 19,631 |
Derivatives at fair value, net | 1 |  | 486 |
SAVEGREEN | 21,281 |  | 10,201 |
Postemployment and other benefit costs | 188,170 |  | 212,461 |
Deferred storm damage costs | 6,515 |  | 8,687 |
Cost of removal | 75,080 |  | 65,660 |
Other noncurrent regulatory assets | 20,068 |  | 10,080 |
Total noncurrent regulatory assets | $ | 526,462 |  | $ | 496,637 |
Regulatory liability-current |  |
Overrecovered natural gas costs | $ | 25,914 |  | $ | — |
Derivatives at fair value, net | 274 |  | — |
Total current regulatory liabilities | $ | 26,188 |  | $ | — |
Regulatory liabilities-noncurrent |  |
Tax Act impact (1) | $ | 195,425 |  | $ | 200,417 |
Derivatives at fair value, net | 352 |  | — |
New Jersey Clean Energy Program | — |  | 197 |
Other noncurrent regulatory liabilities | 509 |  | 1,821 |
Total noncurrent regulatory liabilities | $ | 196,286 |  | $ | 202,435 |
(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.
Schedule of Regulatory Liabilities | Regulatory assets and liabilities included on the Consolidated Balance Sheets as of September 30, are composed of the following:
(Thousands) | 2020 | 2019
Regulatory assets-current |  |
New Jersey Clean Energy Program | $ | 15,570 |  | $ | 15,468 |
Conservation Incentive Program | 19,120 |  | 3,371 |
Underrecovered natural gas costs | — |  | 9,506 |
Derivatives at fair value, net | — |  | 4,526 |
Other current regulatory assets | 1,682 |  | — |
Total current regulatory assets | $ | 36,372 |  | $ | 32,871 |
Regulatory assets-noncurrent |  |
Environmental remediation costs: |  |
Expended, net of recoveries | $ | 36,516 |  | $ | 38,351 |
Liability for future expenditures | 150,590 |  | 131,080 |
Deferred income taxes | 28,241 |  | 19,631 |
Derivatives at fair value, net | 1 |  | 486 |
SAVEGREEN | 21,281 |  | 10,201 |
Postemployment and other benefit costs | 188,170 |  | 212,461 |
Deferred storm damage costs | 6,515 |  | 8,687 |
Cost of removal | 75,080 |  | 65,660 |
Other noncurrent regulatory assets | 20,068 |  | 10,080 |
Total noncurrent regulatory assets | $ | 526,462 |  | $ | 496,637 |
Regulatory liability-current |  |
Overrecovered natural gas costs | $ | 25,914 |  | $ | — |
Derivatives at fair value, net | 274 |  | — |
Total current regulatory liabilities | $ | 26,188 |  | $ | — |
Regulatory liabilities-noncurrent |  |
Tax Act impact (1) | $ | 195,425 |  | $ | 200,417 |
Derivatives at fair value, net | 352 |  | — |
New Jersey Clean Energy Program | — |  | 197 |
Other noncurrent regulatory liabilities | 509 |  | 1,821 |
Total noncurrent regulatory liabilities | $ | 196,286 |  | $ | 202,435 |
(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.

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