Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Summary of Cost Basis and Accumulated Depreciation of Assets Recorded under Capital Leases

The cost basis and accumulated depreciation of assets recorded under capital leases, which are included in Property, Plant, and Equipment on the Consolidated Balance Sheets are as follows as of December 31, 2014 and 2013:

	December 31,
	2014		2013
Gas transmission & distribution facilities	$	6,320,000	$	6,320,000
Capital lease assets, gross		6,320,000		6,320,000
Accumulated depreciation		(902,857)		(501,587)
Capital lease assets, net	$	5,417,143	$	5,818,413

Schedule of Future Minimum Lease Payments

The following schedule presents the future minimum lease payments under the Company’s lease agreements as of December 31, 2014.

Future Minimum Lease Payments
	Operating Leases		Build-to-suit Lease (1)		Capital Leases
2015	$	277,634	$	2,405,890	$	300,000
2016		242,917		2,226,081		300,000
2017		233,913		2,092,063		300,000
2018		222,719		205,958		300,000
2019		210,579		-		300,000
Thereafter		994,701		-		900,000
Total minimum lease payments	$	2,182,463	$	6,929,992		2,400,000
Less: Interest portion						537,062
Liability					$	1,862,938

(1) Relates to the Company’s ERP system build-to-suit lease. See Note 15 – Property Plant & Equipment.

Summary of Future Minimum Long-term Contract Obligations

The following table summarizes the Company’s future minimum obligations under its long-term contracts at December 31, 2014.

Future Minimum Long-term Contract Obligations
	Northwestern				Maritimes and		Gas Purchase
	Energy		Trans-Canada		Northeast Pipeline		Contracts
2015	$	1,434,680	$	829,775	$	357,042	$	2,939,547
2016		519,356		368,768		357,042		817,325
2017		519,356		368,768		357,042		-
2018		476,076		338,036		357,042		-
2019		-		-		357,042		-
Thereafter		-		-		-		-
Total	$	2,949,468	$	1,905,347	$	1,785,210	$	3,756,872