REGULATION (Tables)

9 Months Ended

Jun. 30, 2018

Regulated Operations [Abstract]

Schedule of Regulatory Assets and Liabilities

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

(Thousands)	June 30, 2018		September 30, 2017
Regulatory assets-current
New Jersey Clean Energy Program	$	15,533	$	14,202
Underrecovered gas costs	5,693		9,910
Derivatives at fair value, net	230		9,010
Conservation Incentive Program	—		17,669
Total current regulatory assets	$	21,456	$	50,791
Regulatory assets-noncurrent
Environmental remediation costs
Expended, net of recoveries	$	29,647	$	28,547
Liability for future expenditures	140,821		149,000
Deferred income taxes	16,796		21,795
SAVEGREEN	7,410		16,302
Postemployment and other benefit costs	133,179		141,433
Deferred storm damage costs	11,401		13,030
Other noncurrent regulatory assets	8,825		5,812
Total noncurrent regulatory assets	$	348,079	$	375,919
Regulatory liabilities-current
Conservation Incentive Program	$	6,637	$	—
Derivatives at fair value, net	845		78
Total current regulatory liabilities	$	7,482	$	78
Regulatory liabilities-noncurrent
Tax Act impact (1)	$	206,832	$	—
Cost of removal obligation	—		7,902
Derivatives at fair value, net	466		146
New Jersey Clean Energy Program	2,484		5,795
Other noncurrent regulatory liabilities	1,649		664
Total noncurrent regulatory liabilities	$	211,431	$	14,507

(1) Includes an adjustment related to the re-measurement of NJNG's net deferred tax liabilities to reflect the change in federal tax rates enacted in the Tax Act, which is net of sales tax collected from customers. For a more detailed discussion, see Note 11. Income Taxes.