REPORTABLE SEGMENT DATA (Tables)

12 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Information related to the Company’s various reportable segments, as of September 30, is detailed below:

(Thousands)	NJNG		CEV		ES		S&T		Total
2025
Operating revenues attributable to reportable segments	$	1,301,496	$	112,501	$	453,457	$	106,372	$	1,973,826
Intercompany revenues	1,121		—		—		41		1,162
Reconciliation to consolidated revenue
Corporate and other (1)									61,424
Total operating revenues									$	2,036,412
Natural gas purchases	528,992		—		372,431		1,006		902,429
Operation and maintenance	230,876		56,167		16,089		46,930		350,062
Regulatory rider expenses	87,199		—		—		—		87,199
Depreciation and amortization	140,368		24,105		187		23,010		187,670
Gain on sale of assets	—		(56,187)		—		—		(56,187)
Interest income (2)	2,552		685		157		9,147		12,541
Other segment income (expense), net (3)	25,236		16,971		1,365		(731)		42,841
Interest expense, net of capitalized interest	69,893		26,702		13,097		23,170		132,862
Income tax provision	59,536		18,214		12,297		5,985		96,032
Equity in earnings of affiliates	—		—		—		3,813		3,813
Net income attributable to reportable segments	$	213,541	$	61,156	$	40,878	$	18,541	$	334,116
Reconciliation to consolidated net income
Corporate and other (1)									1,511
Total net income									$	335,627

(Thousands)	NJNG		CEV		ES		S&T		Total
2024
Operating revenues attributable to reportable segments	$	1,018,482	$	130,563	$	490,266	$	94,851	$	1,734,162
Intercompany revenues	1,350		—		(4,875)		1,358		(2,167)
Reconciliation to consolidated revenue
Corporate and other (1)									$	64,544
Total operating revenues									$	1,796,539
Natural gas purchases	414,635		—		305,938		1,028		721,601
Operation and maintenance	225,260		44,042		24,969		43,083		337,354
Regulatory rider expenses	60,327		—		—		—		60,327
Depreciation and amortization	112,492		27,869		205		24,900		165,466
Interest income (2)	2,448		—		452		10,172		13,072
Other segment income (expense), net (3)	17,915		14,961		578		35		33,489
Interest expense, net of capitalized interest	62,288		28,545		15,233		23,441		129,507
Income tax provision	31,793		11,406		33,331		4,551		81,081
Equity in earnings of affiliates	—		—		—		2,816		2,816
Net income attributable to reportable segments	$	133,400	33,662		106,745		12,229		$	286,036
Reconciliation to consolidated net income
Corporate and other (1)									3,739
Total net income									$	289,775
2023
Operating revenues attributable to reportable segments	$	1,011,284	$	124,131	$	681,446	$	88,700	$	1,905,561
Intercompany revenues	1,349		—		10,170		4,159		15,678
Reconciliation to consolidated revenue
Corporate and other (1)									$	41,755
Total operating revenues									$	1,962,994
Natural gas purchases	425,457		—		558,932		1,601		985,990
Operation and maintenance	226,780		40,089		19,351		34,648		320,868
Regulatory rider expenses	50,542		—		—		—		50,542
Depreciation and amortization	102,326		25,320		221		24,185		152,052
Interest income (2)	1,713		—		1,119		6,957		9,789
Other segment income (expense), net (3)	11,833		6,622		360		(107)		18,708
Interest expense, net of capitalized interest	56,595		28,569		11,400		25,803		122,367
Income tax provision (benefit)	33,065		(7,683)		24,343		3,444		53,169
Equity in earnings of affiliates	—		—		—		3,126		3,126
Net income attributable to reportable segments	$	131,414	44,458		78,848		13,154		267,874
Reconciliation to consolidated net income
Corporate and other (1)									$	(3,150)
Total net income									$	264,724

(1)Corporate and other includes HSO and intercompany eliminations.

(2)Interest income is included in other income, net on the Consolidated Statements of Operations.

(3)Includes other income, net less interest income on the Consolidated Statements of Operations.

Schedule of Assets for Business Segments and Other Business Operations

The Company’s capital expenditures and assets for the various reportable segments, as of September 30, are detailed below:

(Thousands)	NJNG		CEV	ES	S&T	Total
2025
Capital expenditures	$	437,635	238,185	—	27,763	$	703,583
Segment assets	$	5,198,116	1,308,969	98,429	1,033,439	$	7,638,953
Corporate and other						$	(60,178)
Total assets						$	7,578,775
2024
Capital expenditures	$	419,453	104,287	—	45,338	$	569,078
Segment assets	$	4,789,835	1,157,573	108,710	1,025,457	$	7,081,575
Corporate and other						$	(99,930)
Total assets						$	6,981,645

(1)Corporate and other includes HSO and intercompany eliminations.