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RELATED PARTY TRANSACTIONS | 9 Months Ended
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Jun. 30, 2025
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | 15. RELATED PARTY TRANSACTIONS In April 2020, NJNG entered into a five-year agreement for 3 Bcf of firm storage capacity with Steckman Ridge, which expired on March 31, 2025. In March 2025, NJNG entered into a new two-year agreement for 3 Bcf of firm storage capacity with Steckman Ridge, which expires on March 31, 2027. Under the terms of the new agreement, NJNG incurs demand fees, at market rates, of approximately $6.5M annually, a portion of which is eliminated in consolidation. These fees are recoverable through NJNG’s BGSS mechanism and are included as a component of regulatory assets. ES may periodically enter into storage or park and loan agreements with Steckman Ridge. As of June 30, 2025, ES has entered into transactions with Steckman Ridge for varying terms, all of which expire by March 31, 2027. Demand fees, net of eliminations, associated with Steckman Ridge were as follows:
| Three Months Ended | Nine Months Ended
| June 30, | June 30,
(Thousands) | 2025 | 2024 | 2025 | 2024
NJNG | $ | 1,075 |  | $ | 1,541 |  | $ | 4,086 |  | $ | 4,781 |
ES | 193 |  | 188 |  | 566 |  | 626 |
Total | $ | 1,268 |  | $ | 1,729 |  | $ | 4,652 |  | $ | 5,407 |
The following table summarizes demand fees payable to Steckman Ridge as of:
(Thousands) | June 30, 2025 | September 30, 2024
NJNG | $ | 540 |  | $ | 775 |
ES | 106 |  | 100 |
Total | $ | 646 |  | $ | 875 |
NJNG and ES enter into various AMAs, the effects of which are eliminated in consolidation. Under the terms of these AMAs, NJNG releases certain transportation and storage contracts to ES. NJNG and ES had one AMA, which expired on March 31, 2024, and was not renewed. NJNG entered into two transportation agreements with Adelphia, each for committed capacity of 130,000 Dekatherms per day. The first is for five years in Zone South with an expiration date of August 8, 2027, and the second is for 15 years in Zone North, which began on November 1, 2023, with an expiration date of October 31, 2038. ES had a five-year agreement for 3 Bcf of firm storage capacity with Leaf River, the effects of which were eliminated in consolidation. The agreement expired on March 31, 2024, and was not renewed. NJNG and CEV entered into a 15-year sublease and PPA related to an onsite solar array and the related energy output at the Company’s headquarters in Wall, New Jersey, with an expiration date of March 1, 2036, the effects of which are immaterial to the Unaudited Condensed Consolidated Financial Statements. NJNG entered into 16-year lease agreements, as Lessor, with various NJR subsidiaries, as Lessees, for office space at the Company’s headquarters in Wall, New Jersey, each with an expiration date of July 1, 2037, the effects of which are eliminated in consolidation. NJNG and CEV entered into a 20-year sublease and PPA related to an onsite solar array and the related energy output at the Company’s liquefied natural gas plant in Howell, New Jersey, with an expiration date of June 1, 2042, the effects of which are immaterial to the Unaudited Condensed Consolidated Financial Statements. On January 3, 2025, Adelphia and ES entered into a transportation agreement for committed capacity of 10,000 Dekatherms per day, which expired on February 28, 2025, and was not renewed. The intercompany profits for certain transactions between NJNG and ES and NJNG and Adelphia are not eliminated in accordance with ASC 980, Regulated Operations.

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