SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Dec. 31, 2025

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the Unaudited Condensed Consolidated Balance Sheets to the total amounts in the Unaudited Condensed Consolidated Statements of Cash Flows as follows:


(Thousands)	December 31, 2025		September 30, 2025		December 31, 2024
Balance Sheet
Cash and cash equivalents	$	2,434	$	591	$	1,908
Restricted cash in other noncurrent assets	$	1,159	$	1,058	$	655
Statements of Cash Flow
Cash, cash equivalents and restricted cash	$	3,593	$	1,649	$	2,563

Schedule of Natural Gas in Storage

The following table summarizes natural gas in storage, at average cost by segment as of:


	December 31, 2025				September 30, 2025
($ in thousands)	Natural Gas in Storage			Bcf	Natural Gas in Storage			Bcf
NJNG		$	159,364	24.6		$	184,099	30.8
ES		30,167		9.5		30,686		13.2
S&T		1,588		0.5		1,051		0.3
Total		$	191,119	34.6		$	215,836	44.3

Schedule of Software Costs Included in the Consolidated Financial Statements

The following tables present the software costs included in the Unaudited Condensed Consolidated Financial Statements:


(Thousands)	December 31, 2025		September 30, 2025
Balance Sheets
Utility plant, at cost	$	134,784	$	132,868
Construction work in progress	$	91,819	$	87,274
Nonutility plant and equipment, at cost	$	344	$	344

Accumulated depreciation and amortization, utility plant	$	(28,296)	$	(24,906)
Accumulated depreciation and amortization, nonutility plant and equipment	$	(77)	$	(70)
Software costs	$	11,159	$	11,151


	Three Months Ended
	December 31,
Statements of Operations		2025		2024
Operation and maintenance		$	193	$	2,736
Depreciation and amortization		$	3,397	$	2,415

Schedule of Accumulated Other Comprehensive Loss

The following table presents the changes in the components of accumulated other comprehensive loss, net of related tax effects during the three months ended December 31, 2025 and 2024:


(Thousands)	Cash Flow Hedges		Postemployment Benefit Obligation			Total
Balance as of September 30, 2025	$	(5,163)	$	(6,300)		$	(11,463)
Other comprehensive income

Amounts reclassified from accumulated other comprehensive loss, net of tax of $(79), $1 and $(78), respectively	264		(6)		(1)	258

Balance as of December 31, 2025	$	(4,899)	$	(6,306)		$	(11,205)

Balance as of September 30, 2024	$	(6,215)	$	(306)		$	(6,521)
Other comprehensive income (loss), net of tax

Amounts reclassified from accumulated other comprehensive loss, net of tax of $(79), $58 and $(21), respectively	263		(195)		(1)	68


Balance as of December 31, 2024	$	(5,952)	$	(501)		$	(6,453)

(1)Included in the computation of net periodic pension cost, a component of O&M on the Unaudited Condensed Consolidated Statements of Operations.