REGULATION (Tables)

6 Months Ended

Mar. 31, 2025

Regulated Operations [Abstract]

Schedule of Regulatory Assets

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

(Thousands)	March 31, 2025		September 30, 2024
Regulatory assets-current
New Jersey Clean Energy Program	$	7,649	$	18,491
Conservation Incentive Program	25,907		51,442
Derivatives at fair value, net	—		1,363
Other current regulatory assets	1,283		1,774
Total current regulatory assets	$	34,839	$	73,070
Regulatory assets-noncurrent
Environmental remediation costs:
Expended, net of recoveries	$	67,850	$	77,475
Liability for future expenditures	160,058		161,650
Deferred income taxes	43,595		42,595
SAVEGREEN	115,135		107,796
Postemployment and other benefit costs	25,618		23,772
Cost of removal	132,405		130,885
Other noncurrent regulatory assets	52,930		59,924
Total noncurrent regulatory assets	$	597,591	$	604,097
Regulatory liability-current
Overrecovered natural gas costs	$	16,612	$	32,457
Derivatives at fair value, net	35,700		—
Total current regulatory liabilities	$	52,312	$	32,457
Regulatory liabilities-noncurrent
Tax Act impact	$	172,819	$	175,328
Derivatives at fair value, net	—		404
Other noncurrent regulatory liabilities	427		115
Total noncurrent regulatory liabilities	$	173,246	$	175,847

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

(Thousands)	March 31, 2025		September 30, 2024
Total noncurrent regulatory assets	$	5,031	$	5,095
Total current regulatory liabilities	$	896	$	524

Schedule of Regulatory Liabilities

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

(Thousands)	March 31, 2025		September 30, 2024
Regulatory assets-current
New Jersey Clean Energy Program	$	7,649	$	18,491
Conservation Incentive Program	25,907		51,442
Derivatives at fair value, net	—		1,363
Other current regulatory assets	1,283		1,774
Total current regulatory assets	$	34,839	$	73,070
Regulatory assets-noncurrent
Environmental remediation costs:
Expended, net of recoveries	$	67,850	$	77,475
Liability for future expenditures	160,058		161,650
Deferred income taxes	43,595		42,595
SAVEGREEN	115,135		107,796
Postemployment and other benefit costs	25,618		23,772
Cost of removal	132,405		130,885
Other noncurrent regulatory assets	52,930		59,924
Total noncurrent regulatory assets	$	597,591	$	604,097
Regulatory liability-current
Overrecovered natural gas costs	$	16,612	$	32,457
Derivatives at fair value, net	35,700		—
Total current regulatory liabilities	$	52,312	$	32,457
Regulatory liabilities-noncurrent
Tax Act impact	$	172,819	$	175,328
Derivatives at fair value, net	—		404
Other noncurrent regulatory liabilities	427		115
Total noncurrent regulatory liabilities	$	173,246	$	175,847

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

(Thousands)	March 31, 2025		September 30, 2024
Total noncurrent regulatory assets	$	5,031	$	5,095
Total current regulatory liabilities	$	896	$	524