SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Jun. 30, 2011

Schedule of Utility Inventory [Table Text Block]

The following table summarizes Gas in storage by company as of:



	June 30, 2011				September 30, 2010
($ in thousands)	Gas in Storage			Bcf	Gas in Storage			Bcf
NJNG		$	94,666	14.2		$	181,098	24.7
NJRES		153,470		34.8		155,065		42.3
Total		$	248,136	49.0		$	336,163	67.0

Accounts Receivable by Subsidiary [Text Block]

Customer accounts receivable include outstanding billings from the following subsidiaries as of:



($ in thousands)	June 30, 2011				September 30, 2010
NJNG⁽¹⁾	$	52,056	20	%	$	17,983	11	%
NJRES	196,335		76		136,064		83
NJRHS and other	10,420		4		8,914		6
Total	$	258,811	100	%	$	162,961	100	%


(1)	Does not include unbilled revenues of $7.3 million and $7.4 million as of June 30, 2011 and September 30, 2010, respectively.

Schedule of Public Utilities Allowance for Funds Used During Construction Rate [Table Text Block]

Corresponding amounts recognized in interest expense and other income, as appropriate, are included in the Unaudited Condensed Consolidated Statements of Operations are as follows:



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
($ in thousands)	2011			2010			2011			2010
AFUDC:
Debt	$	352		$	262		$	622		$	662
Equity	753			557			1,252			1,474
Total	$	1,105		$	819		$	1,874		$	2,136
Weighted average rate	7.76		%	7.76		%	5.57		%	7.34		%