REGULATION (Tables)

9 Months Ended

Jun. 30, 2019

Regulated Operations [Abstract]

Schedule of Regulator Liabilities

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

(Thousands)	June 30, 2019		September 30, 2018
Regulatory assets-current
New Jersey Clean Energy Program	$	15,252	$	14,052
Underrecovered gas costs	9,949		4,137
Conservation Incentive Program	2,065		—
Derivatives at fair value, net	5,654		108
Total current regulatory assets	$	32,920	$	18,297
Regulatory assets-noncurrent
Environmental remediation costs
Expended, net of recoveries	$	34,340	$	33,017
Liability for future expenditures	125,566		130,800
Deferred income taxes	19,419		17,225
Derivatives at fair value, net	750		—
SAVEGREEN	7,684		8,636
Postemployment and other benefit costs	132,605		136,716
Deferred storm damage costs	9,229		10,858
Cost of removal	49,929		22,339
Other noncurrent regulatory assets	9,247		9,001
Total noncurrent regulatory assets	$	388,769	$	368,592
Regulatory liabilities-current
Conservation Incentive Program	$	—	$	6,994
Derivatives at fair value, net	—		1,191
Total current regulatory liabilities	$	—	$	8,185
Regulatory liabilities-noncurrent
Tax Act impact (1)	$	201,664	$	205,410
Derivatives at fair value, net	—		123
New Jersey Clean Energy Program	207		1,902
Other noncurrent regulatory liabilities	1,789		1,704
Total noncurrent regulatory liabilities	$	203,660	$	209,139

(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.

Schedule of Regulatory Assets

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

(Thousands)	June 30, 2019		September 30, 2018
Regulatory assets-current
New Jersey Clean Energy Program	$	15,252	$	14,052
Underrecovered gas costs	9,949		4,137
Conservation Incentive Program	2,065		—
Derivatives at fair value, net	5,654		108
Total current regulatory assets	$	32,920	$	18,297
Regulatory assets-noncurrent
Environmental remediation costs
Expended, net of recoveries	$	34,340	$	33,017
Liability for future expenditures	125,566		130,800
Deferred income taxes	19,419		17,225
Derivatives at fair value, net	750		—
SAVEGREEN	7,684		8,636
Postemployment and other benefit costs	132,605		136,716
Deferred storm damage costs	9,229		10,858
Cost of removal	49,929		22,339
Other noncurrent regulatory assets	9,247		9,001
Total noncurrent regulatory assets	$	388,769	$	368,592
Regulatory liabilities-current
Conservation Incentive Program	$	—	$	6,994
Derivatives at fair value, net	—		1,191
Total current regulatory liabilities	$	—	$	8,185
Regulatory liabilities-noncurrent
Tax Act impact (1)	$	201,664	$	205,410
Derivatives at fair value, net	—		123
New Jersey Clean Energy Program	207		1,902
Other noncurrent regulatory liabilities	1,789		1,704
Total noncurrent regulatory liabilities	$	203,660	$	209,139

(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.