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DERIVATIVE INSTRUMENTS (Tables)
 9 Months Ended
Jun. 30, 2011
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Text Block]
The following table reflects the fair value of NJR's derivative assets and liabilities recognized in the Unaudited Condensed Consolidated Balance Sheets as of:
 
 
 
Fair Value
 
 
 
June 30, 2011
 
September 30, 2010
(Thousands)
Balance Sheet Location
Asset
Derivatives
Liability
Derivatives
Asset
Derivatives
Liability
Derivatives
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
NJRES:
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
Derivatives - current
 
$
107


 
$
—


 
$
15


 
$
—


 
Derivatives - noncurrent
 
82


 
—


 
10


 
—


Fair value of derivatives designated as hedging instruments
 
$
189


 
$
—


 
$
25


 
$
—


 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
NJNG:
 
 
 
 
 
 
 
 
 
Financial commodity contracts
Derivatives - current
 
$
5,338


 
$
13,020


 
$
9,952


 
$
24,724


 
Derivatives - noncurrent
 
—


 
—


 
—


 
1,725


NJRES:
 
 


 


 


 


Physical forward commodity contracts
Derivatives - current
 
19,439


 
5,219


 
18,566


 
5,879


 
Derivatives - noncurrent
 
3,734


 
989


 
5,482


 
179


Financial commodity contracts
Derivatives - current
 
34,134


 
26,899


 
106,653


 
47,844


 
Derivatives - noncurrent
 
1,265


 
3,040


 
2,465


 
3,736


Fair value of derivatives not designated as hedging instruments
 
$
63,910


 
$
49,167


 
$
143,118


 
$
84,087


Total fair value of derivatives
 
 
$
64,099


 
$
49,167


 
$
143,143


 
$
84,087
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Text Block]
The following tables reflect the effect of derivative instruments designated as cash flow hedges on OCI:
(Thousands)
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)
Amount of Gain or (Loss) Reclassified from OCI (Effective Portion)
Amount of Gain or (Loss) Recognized on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
 
Three Months Ended
Three Months Ended
Three Months Ended
 
June 30,
June 30,
June 30,
Derivatives in cash flow hedging relationships:
2011
2010 (1)
2011
2010 (1)
2011
2010 (1)
Foreign currency contracts
$
3


$
(144
)
$
32


$
5


$
—


$
—


Total
$
3


$
(144
)
$
32


$
5


$
—


$
—


(1)
NJRES began hedging its foreign currency exposure in May 2010, therefore, amounts for the three months ended June 30, 2010 only include gains and losses for May 2010 through June 2010 and is not comparative to the three months ended June 30, 2011.


(Thousands)
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) (1)
Amount of Gain or (Loss) Reclassified from OCI into Income (Effective Portion)
Amount of Gain or (Loss) Recognized on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
 
Nine Months Ended
Nine Months Ended
Nine Months Ended
 
June 30,
June 30,
June 30,
Derivatives in cash flow hedging relationships:
2011
2010 (2)
2011
2010 (2)
2011
2010 (2)
Foreign currency contracts
$
164


$
(144
)
$
91


$
5


$
—


$
—


Total
$
164


$
(144
)
$
91


$
5


$
—


$
—


(1)
The settlement of foreign currency transactions over the next 12 months is expected to result in the reclassification of $107,000 from OCI into earnings. The maximum tenor is April 2013.
(2)
NJRES began hedging its foreign currency exposure in May 2010, therefore, amounts for the nine months ended June 30, 2010 only include gains and losses for May 2010 through June 2010 and is not comparative to the nine months ended June 30, 2011.
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table reflects the effect of derivative instruments on the Unaudited Condensed Consolidated Statements of Operations as of:
(Thousands)
Location of gain (loss) recognized in income on derivatives
Amount of gain (loss) recognized
in income on derivatives
 
 
Three Months Ended
Nine Months Ended
 
 
June 30,
June 30,
Derivatives not designated as hedging instruments:
2011
 
2010
2011
 
2010
NJRES:
 
 
 
 
 
 
 
Physical commodity contracts
Operating revenues
$
5,044


 
$
12,890


$
29,881


 
$
35,564


Physical commodity contracts
Gas purchases
4,639


 
(12,110
)
(1,467
)
 
(11,956
)
Financial commodity contracts
Gas purchases
8,703


 
(11,449
)
(19,072
)
 
53,668


Subtotal NJRES
 
18,386


 
(10,669
)
9,342


 
77,276


NJR Energy:
 


 




 


Financial commodity contracts
Operating revenues
—


 
421


—


 
(6,085
)
Total NJRES and NJR Energy unrealized and realized gains (losses)
$
18,386


 
$
(10,248
)
$
9,342


 
$
71,191
Schedule of Due to (from) Broker-Dealers and Clearing Organizations [Text Block]
The Company maintains broker margin accounts for NJNG and NJRES. The balances by company are as follows:
(Thousands)
Balance Sheet Location
June 30, 2011
September 30, 2010
NJNG broker margin deposit
Broker margin - Current assets
$
13,034


$
19,241


NJRES broker margin deposit
Broker margin - Current assets (liabilities)
$
14,292


$
(28,459
)
Schedule of Derivative Instruments [Text Block]
NJNG and NJRES had the following outstanding long (short) derivatives as of:
 
 
 
Volume (Bcf)
 
 
 
June 30, 2011
September 30, 2010
NJNG
Futures
 
(2.5
)
20.8


 
Swaps
 
10.7


(8.7
)
NJRES
Futures
 
(13.6
)
(13.0
)
 
Swaps
 
(16.1
)
(7.3
)
 
Options
 
—


0.6


 
Physical
 
72.1


36.1
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]
The amounts presented below have not been reduced by any collateral received or netting and exclude accounts receivable for NJNG retail natural gas sales and services.
(Thousands)
Gross Credit
Exposure
Investment grade
 
$
164,598


 
Noninvestment grade
 
10,567


 
Internally rated investment grade
 
47,772


 
Internally rated noninvestment grade
 
11,327


 
Total
 
$
234,264