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DEBT (Tables)
 12 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
The following table presents the long-term debt of the Company as of September 30:
(Thousands)20222021
NJNG
First mortgage bonds:Maturity date:
3.00%Series OOAugust 1, 204146,500 46,500 
3.15%Series PPApril 15, 202850,000 50,000 
3.58%Series QQMarch 13, 202470,000 70,000 
4.61%Series RRMarch 13, 204455,000 55,000 
2.82%Series SSApril 15, 202550,000 50,000 
3.66%Series TTApril 15, 2045100,000 100,000 
3.63%Series UUJune 21, 2046125,000 125,000 
4.01%Series VVMay 11, 2048125,000 125,000 
3.50%Series WWApril 1, 204210,300 10,300 
3.38%Series XXApril 1, 203810,500 10,500 
2.45%Series YYApril 1, 205915,000 15,000 
3.76%Series ZZJuly 17, 2049100,000 100,000 
3.86%Series AAAJuly 17, 205985,000 85,000 
2.75%Series BBBAugust 1, 20399,545 9,545 
3.00%Series CCCAugust 1, 204341,000 41,000 
3.13%Series DDDJune 30, 205050,000 50,000 
3.13%Series EEEJuly 23, 205050,000 50,000 
3.33%Series FFFJuly 23, 206025,000 25,000 
2.87%Series GGGSeptember 1, 205025,000 25,000 
2.97%Series HHHSeptember 1, 206050,000 50,000 
2.97%Series IIIOctober 28, 205150,000 — 
3.07%Series JJJOctober 28, 206150,000 — 
4.37%Series LLLMay 27, 203750,000 — 
4.71%Series MMMMay 27, 205250,000 — 
Finance lease obligation-metersVarious dates30,290 20,135 
Less: Debt issuance costs(9,528)(9,093)
Less: Current maturities of long-term debt(6,538)(5,393)
Total NJNG long-term debt1,307,069 1,098,494 
NJR
3.25%Unsecured senior notesSeptember 17, 2022— 50,000 
3.20%Unsecured senior notesAugust 18, 202350,000 50,000 
3.48%Unsecured senior notesNovember 7, 2024100,000 100,000 
3.54%Unsecured senior notesAugust 18, 2026100,000 100,000 
3.96%Unsecured senior notesJune 8, 2028100,000 100,000 
3.29%Unsecured senior notesJuly 17, 2029150,000 150,000 
3.60%Unsecured senior notesJuly 23, 2032130,000 130,000 
3.50%Unsecured senior notesJuly 23, 2030130,000 130,000 
3.25%Unsecured senior notesSeptember 1, 203380,000 80,000 
3.13%Unsecured senior notesSeptember 1, 2031120,000 120,000 
4.38%Unsecured senior notesJune 23, 2027110,000 — 
3.64%Unsecured senior notesSeptember 19, 203450,000 — 
Less: Debt issuance costs(3,753)(3,269)
Less: Current maturities of long-term debt(50,000)(50,000)
Total NJR long-term debt1,066,247 956,731 
Clean Energy Ventures
Solar asset financing obligationVarious dates130,618 124,387 
Less: Current maturities of long-term debt(18,532)(17,448)
Total Clean Energy Ventures long-term debt112,086 106,939 
Total long-term debt$2,485,402 $2,162,164 
Schedule of Long-term Debt Redemption Requirements
Annual long-term debt redemption requirements, excluding finance leases, debt issuance costs and solar asset financing obligations, as of September 30, are as follows:
(Thousands)NJRNJNG
2023$50,000 $— 
2024$— $70,000 
2025$100,000 $50,000 
2026$100,000 $— 
2027$110,000 $— 
Thereafter$760,000 $1,172,845 
Finance Lease Liability, Maturity
Contractual commitments for finance lease payments, as of the fiscal years ended September 30, are as follows:
(Thousands)Lease Payments
2023$7,252 
20247,909 
20256,026 
20264,955 
20272,630 
Thereafter3,262 
Subtotal32,034 
Less: Interest component(1,744)
Total$30,290 
The following table presents the Company’s maturities of lease liabilities as of September 30, 2022:
(Thousands)Operating LeasesFinance Leases
2023$8,024 $7,252 
20247,652 7,909 
20257,087 6,026 
20266,998 4,955 
20276,972 2,630 
Thereafter190,972 3,262 
Total future lease payments227,705 32,034 
Less: interest
(84,761)(1,744)
Total lease liability$142,944 $30,290 
Schedule of Contractual Commitments for Finance Lease Payments
Contractual commitments for the solar financing obligation payments, as of the fiscal years ended September 30, are as follows:
(Thousands)Lease Payments
2023$15,755 
202443,000 
202539,629 
20262,841 
20275,352 
Thereafter16,442 
Subtotal123,019 
Less: Interest component(11,443)
Total$111,576 
Schedule of Line of Credit Facilities
A summary of NJR’s credit facility and NJNG’s commercial paper program and credit facility as of September 30, are as follows:
(Thousands)20222021Expiration Dates
NJR
Bank revolving credit facilities (1)
$650,000 $500,000 September 2027
Notes outstanding at end of period$200,150 $219,100 
Weighted average interest rate at end of period3.97 %1.05 %
Amount available at end of period (2)
$440,177 $270,312 
Bank term loan credit agreement$150,000 $— February 2023
Loans outstanding at end of period$150,000 $— 
Weighted average interest rate at end of period3.81 %— %
Amount available at end of period$— $— 
NJNG
Bank revolving credit facilities (3)
$250,000 $250,000 September 2027
Commercial paper outstanding at end of period$73,800 $158,200 
Weighted average interest rate at end of period3.34 %.17 %
Amount available at end of period (4)
$175,469 $91,069 
(1)Committed credit facilities, which require commitment fees of 0.10 percent on the unused amounts.
(2)Letters of credit outstanding total $9.7 million and $10.6 million as of September 30, 2022 and September 30, 2021, respectively, which reduces amount available by the same amount.
(3)Committed credit facilities, which require commitment fees of 0.075 percent on the unused amounts.
(4)Letters of credit outstanding total $731,000 as of both September 30, 2022 and 2021, which reduces amount available by the same amount.