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REGULATION (Tables)

9 Months Ended

Jun. 30, 2021

Regulated Operations [Abstract]

Schedule of Regulator Liabilities

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

(Thousands)			June 30, 2021			September 30, 2020
Regulatory assets-current
New Jersey Clean Energy Program			$	18,329		$	15,570
Conservation Incentive Program			14,602			19,120
Other current regulatory assets			1,830			1,682
Total current regulatory assets			$	34,761		$	36,372
Regulatory assets-noncurrent
Environmental remediation costs:
Expended, net of recoveries			$	44,333		$	36,516
Liability for future expenditures			136,882			150,590
Deferred income taxes			33,506			28,241
Derivatives at fair value, net			—			1
SAVEGREEN			24,929			21,281
Postemployment and other benefit costs			176,454			188,170
Deferred storm damage costs			4,886			6,515
Cost of removal			94,124			75,080
Other noncurrent regulatory assets			20,160			20,068
Total noncurrent regulatory assets			$	535,274		$	526,462
Regulatory liability-current
Overrecovered natural gas costs			$	2,189		$	25,914
Derivatives at fair value, net			11,848			274
Total current regulatory liabilities			$	14,037		$	26,188
Regulatory liabilities-noncurrent
Tax Act impact (1)			$	191,641		$	195,425
Derivatives at fair value, net			959			352
Other noncurrent regulatory liabilities			399			509
Total noncurrent regulatory liabilities			$	192,999		$	196,286

(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 assets and liabilities included on the Unaudited Condensed Consolidated Balance Sheets for Adelphia Gateway are comprised of the following:

(Thousands)			June 30, 2021			September 30, 2020
Total current regulatory assets			$	269		$	158
Total noncurrent regulatory assets			$	1,911		$	997
Total-noncurrent regulatory liabilities			$	223		$	—

Schedule of Regulatory Assets

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

(Thousands)			June 30, 2021			September 30, 2020
Regulatory assets-current
New Jersey Clean Energy Program			$	18,329		$	15,570
Conservation Incentive Program			14,602			19,120
Other current regulatory assets			1,830			1,682
Total current regulatory assets			$	34,761		$	36,372
Regulatory assets-noncurrent
Environmental remediation costs:
Expended, net of recoveries			$	44,333		$	36,516
Liability for future expenditures			136,882			150,590
Deferred income taxes			33,506			28,241
Derivatives at fair value, net			—			1
SAVEGREEN			24,929			21,281
Postemployment and other benefit costs			176,454			188,170
Deferred storm damage costs			4,886			6,515
Cost of removal			94,124			75,080
Other noncurrent regulatory assets			20,160			20,068
Total noncurrent regulatory assets			$	535,274		$	526,462
Regulatory liability-current
Overrecovered natural gas costs			$	2,189		$	25,914
Derivatives at fair value, net			11,848			274
Total current regulatory liabilities			$	14,037		$	26,188
Regulatory liabilities-noncurrent
Tax Act impact (1)			$	191,641		$	195,425
Derivatives at fair value, net			959			352
Other noncurrent regulatory liabilities			399			509
Total noncurrent regulatory liabilities			$	192,999		$	196,286

(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 assets and liabilities included on the Unaudited Condensed Consolidated Balance Sheets for Adelphia Gateway are comprised of the following:

(Thousands)			June 30, 2021			September 30, 2020
Total current regulatory assets			$	269		$	158
Total noncurrent regulatory assets			$	1,911		$	997
Total-noncurrent regulatory liabilities			$	223		$	—

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- Definition

Tabular disclosure of assets that are created when regulatory agencies permit public utilities to defer certain costs included in rate-setting to the balance sheet.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 980
-SubTopic 340
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6499975&loc=d3e44250-110382

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 980
-SubTopic 715
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6501251&loc=d3e52485-110419

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-Name Accounting Standards Codification
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Tabular disclosure of regulatory liabilities. Detailed information about liabilities that result from rate actions of a regulator. Rate actions of a regulator can impose a liability on a regulated enterprise resulting in a regulatory liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 980
-SubTopic 405
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6500807&loc=d3e48068-110394

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