RGC Resources (RGCO) 10-Q 13 May 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0001069533
Entity Registrant Name	RGC Resources, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	000-26591
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-1909697
Entity Address, Address Line One	519 Kimball Ave., N.E.
Entity Address, City or Town	Roanoke
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	24016
City Area Code	540
Local Phone Number	777-4427
Title of 12(b) Security	Common Stock, $5 Par Value
Trading Symbol	RGCO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,228,769

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2021	Sep. 30, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 726,549	$ 291,066
Accounts receivable (less allowance for uncollectibles of $849,719, and $703,140, respectively)	9,828,956	3,404,044
Materials and supplies	1,101,514	1,027,191
Gas in storage	1,283,767	5,708,761
Prepaid income taxes	0	647,623
Regulatory assets	1,723,472	2,503,314
Other	1,898,954	854,562
Total current assets	16,563,212	14,436,561
UTILITY PROPERTY:
In service	264,489,731	258,342,372
Accumulated depreciation and amortization	(74,224,836)	(71,386,537)
In service, net	190,264,895	186,955,835
Construction work in progress	13,433,545	11,489,258
Utility plant, net	203,698,440	198,445,093
OTHER ASSETS:
Regulatory assets	10,974,638	10,970,094
Investment in unconsolidated affiliates	60,544,494	57,542,805
Other	383,254	284,954
Total other assets	71,902,386	68,797,853
TOTAL ASSETS	292,164,038	281,679,507
CURRENT LIABILITIES:
Current maturities of long-term debt	7,000,000	0
Dividends payable	1,522,322	1,428,268
Accounts payable	4,555,690	4,442,182
Capital contributions payable	1,441,232	2,512,437
Customer credit balances	851,968	1,587,061
Income taxes payable	505,121	0
Customer deposits	1,605,684	1,611,476
Accrued expenses	2,714,264	3,565,210
Interest rate swaps	356,412	533,795
Regulatory liabilities	222,373	890,313
Total current liabilities	20,775,066	16,570,742
LONG-TERM DEBT:
Notes payable	111,755,200	114,975,200
Line-of-credit	9,281,929	9,143,606
Less unamortized debt issuance costs	(266,700)	(299,175)
Long-term debt, net	120,770,429	123,819,631
DEFERRED CREDITS AND OTHER LIABILITIES:
Interest rate swaps	974,310	1,689,761
Asset retirement obligations	7,396,895	7,180,982
Regulatory cost of retirement obligations	13,122,705	12,678,043
Benefit plan liabilities	6,016,865	6,149,527
Deferred income taxes	14,971,506	13,973,762
Regulatory liabilities	10,561,654	10,729,082
Total deferred credits and other liabilities	53,043,935	52,401,157
STOCKHOLDERS’ EQUITY:
Common stock, $5 par; authorized 20,000,000 shares; issued and outstanding 8,226,650 and 8,160,058 shares, respectively	41,133,250	40,800,290
Preferred stock, no par, authorized 5,000,000 shares; no shares issued and outstanding	0	0
Capital in excess of par value	17,058,609	15,847,121
Retained earnings	42,137,946	35,688,510
Accumulated other comprehensive loss	(2,755,197)	(3,447,944)
Total stockholders’ equity	97,574,608	88,887,977
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 292,164,038	$ 281,679,507

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2021	Sep. 30, 2020
Accounts receivable, allowance for uncollectibles	$ 849,719	$ 703,140
Common stock, par value (in dollars per share)	$ 5	$ 5
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	8,226,650	8,160,058
Common stock, shares outstanding (in shares)	8,226,650	8,160,058
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
OPERATING REVENUES:
Operating revenues	$ 28,253,662	$ 22,437,731	$ 47,770,679	$ 42,223,184
OPERATING EXPENSES:
Operations and maintenance	3,931,470	4,110,149	7,433,592	8,027,619
General taxes	642,825	587,873	1,216,849	1,131,110
Depreciation and amortization	2,128,304	1,988,216	4,281,702	3,976,721
Total operating expenses	21,154,236	15,438,115	35,089,866	30,141,589
OPERATING INCOME	7,099,426	6,999,616	12,680,813	12,081,595
Equity in earnings (loss) of unconsolidated affiliate	(3,797)	1,188,593	1,352,886	2,282,679
Other income, net	287,548	317,892	617,574	475,535
Interest expense	1,007,764	1,038,293	2,027,593	2,123,478
INCOME BEFORE INCOME TAXES	6,375,413	7,467,808	12,623,680	12,716,331
INCOME TAX EXPENSE	1,607,935	1,787,492	3,132,939	3,029,079
NET INCOME	$ 4,767,478	$ 5,680,316	$ 9,490,741	$ 9,687,252
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	$ 0.58	$ 0.70	$ 1.16	$ 1.20
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	0.58	0.70	1.16	1.19
Dividends declared per share (in dollars per share)	$ 0.185	$ 0.175	$ 0.370	$ 0.350
Gas Utility [Member]
OPERATING REVENUES:
Operating revenues	$ 28,221,274	$ 22,275,719	$ 47,704,774	$ 41,901,325
OPERATING EXPENSES:
Cost of gas and sales	14,447,057	8,672,997	22,147,756	16,850,803
Non-utility [Member]
OPERATING REVENUES:
Operating revenues	32,388	162,012	65,905	321,859
OPERATING EXPENSES:
Cost of gas and sales	$ 4,580	$ 78,880	$ 9,967	$ 155,336

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Net income	$ 4,767,478	$ 5,680,316	$ 9,490,741	$ 9,687,252
Other comprehensive income (loss), net of tax:
Interest rate swaps	494,294	(1,216,574)	663,019	(953,521)
Defined benefit plans	14,864	16,791	29,728	33,582
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	509,158	(1,199,783)	692,747	(919,939)
COMPREHENSIVE INCOME	$ 5,276,636	$ 4,480,533	$ 10,183,488	$ 8,767,313

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes In Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Sep. 30, 2019	$ 40,366,320	$ 14,397,072	$ 30,821,917	$ (2,488,917)	$ 83,096,392
Net income	0	0	4,006,936	0	4,006,936
Other comprehensive income (loss)	0	0	0	279,844	279,844
Cash dividends declared	0	0	(1,419,236)	0	(1,419,236)
Issuance of common stock	90,265	304,934	0	0	395,199
Balance at Dec. 31, 2019	40,456,585	14,702,006	33,409,617	(2,209,073)	86,359,135
Balance at Sep. 30, 2019	40,366,320	14,397,072	30,821,917	(2,488,917)	83,096,392
Net income					9,687,252
Other comprehensive income (loss)					(919,939)
Balance at Mar. 31, 2020	40,684,725	15,375,737	37,665,741	(3,408,856)	90,317,347
Balance at Dec. 31, 2019	40,456,585	14,702,006	33,409,617	(2,209,073)	86,359,135
Net income	0	0	5,680,316	0	5,680,316
Other comprehensive income (loss)	0	0	0	(1,199,783)	(1,199,783)
Cash dividends declared	0	0	(1,424,192)	0	(1,424,192)
Issuance of common stock	228,140	673,731	0	0	901,871
Balance at Mar. 31, 2020	40,684,725	15,375,737	37,665,741	(3,408,856)	90,317,347
Balance at Sep. 30, 2020	40,800,290	15,847,121	35,688,510	(3,447,944)	88,887,977
Net income	0	0	4,723,263	0	4,723,263
Other comprehensive income (loss)	0	0	0	183,589	183,589
Cash dividends declared	0	0	(1,519,670)	0	(1,519,670)
Issuance of common stock	59,895	214,487	0	0	274,382
Balance at Dec. 31, 2020	40,860,185	16,061,608	38,892,103	(3,264,355)	92,549,541
Balance at Sep. 30, 2020	40,800,290	15,847,121	35,688,510	(3,447,944)	88,887,977
Net income					9,490,741
Other comprehensive income (loss)				692,747	692,747
Balance at Mar. 31, 2021	41,133,250	17,058,609	42,137,946	(2,755,197)	97,574,608
Balance at Dec. 31, 2020	40,860,185	16,061,608	38,892,103	(3,264,355)	92,549,541
Net income	0	0	4,767,478	0	4,767,478
Other comprehensive income (loss)	0	0	0	509,158	509,158
Cash dividends declared	0	0	(1,521,635)	0	(1,521,635)
Issuance of common stock	273,065	997,001	0	0	1,270,066
Balance at Mar. 31, 2021	$ 41,133,250	$ 17,058,609	$ 42,137,946	$ (2,755,197)	$ 97,574,608

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes In Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Dividends declared per share (in dollars per share)	$ 0.185	$ 0.185	$ 0.175	$ 0.175
Common stock issued (in shares)	54,613	11,979	45,628	18,053

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 9,490,741	$ 9,687,252
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,405,956	4,095,390
Cost of retirement of utility plant, net	(265,021)	(286,237)
Equity in earnings of unconsolidated affiliate	(1,352,886)	(2,282,679)
Allowance for funds used during construction	(55,981)	(217,147)
Changes in assets and liabilities which used cash, exclusive of changes and noncash transactions shown separately	(2,611,407)	171,552
Net cash provided by operating activities	9,611,402	11,168,131
CASH FLOWS FROM INVESTING ACTIVITIES:
Expenditures for utility property	(8,978,822)	(10,435,947)
Investment in unconsolidated affiliates	(2,720,008)	(5,931,060)
Proceeds from disposal of utility property	7,390	13,666
Net cash used in investing activities	(11,691,440)	(16,353,341)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of unsecured notes	3,780,000	17,063,000
Borrowings under line-of-credit	22,535,162	9,784,534
Repayments under line-of-credit	(22,396,839)	(17,957,007)
Debt issuance expenses	0	(70,750)
Proceeds from issuance of stock	1,544,448	1,297,070
Cash dividends paid	(2,947,250)	(2,758,757)
Net cash provided by financing activities	2,515,521	7,358,090
NET INCREASE IN CASH AND CASH EQUIVALENTS	435,483	2,172,880
BEGINNING CASH AND CASH EQUIVALENTS	291,066	1,631,348
ENDING CASH AND CASH EQUIVALENTS	$ 726,549	$ 3,804,228

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Basis of Presentation Resources is an energy services company primarily engaged in the sale and distribution of natural gas. The condensed consolidated financial statements include the accounts of Resources and its wholly-owned subsidiaries: Roanoke Gas, Diversified Energy and Midstream. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to fairly present Resources' financial position as of March 31, 2021 six March 31, 2021 2020 three six March 31, 2021 2020 three six March 31, 2021 not September 30, 2021 The unaudited condensed consolidated financial statements and condensed notes are presented as permitted under the rules and regulations of the SEC. Pursuant to those rules, certain information and note disclosures normally included in the annual financial statements prepared in accordance with GAAP have been condensed or omitted, although the Company believes that the disclosures are adequate to make the information not 10 September 30, 2020 September 30, 2020 10 The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant accounting policies are described in Note 1 10 September 30, 2020 Recently Issued or Adopted Accounting Standards In August 2018, 2018 14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715 20 September 30, 2021. October 1, 2020. not In March 2020, 2020 04, Reference Rate Reform (Topic 848 2021 01, December 31, 2022. not Other accounting standards that have been issued by the FASB or other standard-setting bodies are not not Reclassification Certain prior year amounts have been reclassified to conform with current year presentation.

Note 2 - Revenue

Note 2 - Revenue	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. Revenue The Company assesses new contracts and identifies related performance obligations for promises to transfer distinct goods or services to the customer. Revenue is recognized when performance obligations have been satisfied. In the case of Roanoke Gas, the Company contracts with its customers for the sale and/or delivery of natural gas. The following tables summarize revenue by customer, product and income statement classification: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Gas utility Non utility Total operating revenues Gas utility Non utility Total operating revenues Natural Gas (Billed and Unbilled): Residential $ 17,402,552 $ — $ 17,402,552 $ 12,892,659 $ — $ 12,892,659 Commercial 9,264,611 — 9,264,611 6,368,939 — 6,368,939 Industrial and Transportation 1,252,343 — 1,252,343 1,243,426 — 1,243,426 Other 95,092 32,388 127,480 117,466 162,012 279,478 Total contracts with customers 28,014,598 32,388 28,046,986 20,622,490 162,012 20,784,502 Alternative Revenue Programs 206,676 — 206,676 1,653,229 — 1,653,229 Total operating revenues $ 28,221,274 $ 32,388 $ 28,253,662 $ 22,275,719 $ 162,012 $ 22,437,731 Six Months Ended March 31, 2021 Six Months Ended March 31, 2020 Gas utility Non utility Total operating revenues Gas utility Non utility Total operating revenues Natural Gas (Billed and Unbilled): Residential $ 28,648,746 $ — $ 28,648,746 $ 25,177,242 $ — $ 25,177,242 Commercial 15,254,631 — 15,254,631 12,102,779 — 12,102,779 Industrial and Transportation 2,476,144 — 2,476,144 2,570,669 — 2,570,669 Other 256,169 65,905 322,074 333,461 321,859 655,320 Total contracts with customers 46,635,690 65,905 46,701,595 40,184,151 321,859 40,506,010 Alternative Revenue Programs 1,069,084 — 1,069,084 1,717,174 — 1,717,174 Total operating revenues $ 47,704,774 $ 65,905 $ 47,770,679 $ 41,901,325 $ 321,859 $ 42,223,184 Gas utility revenues Substantially all of Roanoke Gas' revenues are derived from rates authorized by the SCC through its tariffs. Based on its evaluation, the Company has concluded that these tariff-based revenues fall within the scope of ASC 606. All customers are billed monthly based on consumption as measured by metered usage. Revenue is recognized as bills are issued for natural gas that has been delivered or transported. In addition, the Company utilizes the practical expedient that allows an entity to recognize the invoiced amount as revenue, if that amount corresponds to the value received by the customer. Since customers are billed tariff rates, there is no Unbilled revenue is included in residential and commercial revenues in the preceding table. Natural gas consumption is estimated for the period subsequent to the last billed date and up through the last day of the month. Estimated volumes and approved tariff rates are utilized to calculate unbilled revenue. The following month, the unbilled estimate is reversed, the actual usage is billed and a new unbilled estimate is calculated. The Company obtains metered usage for industrial customers at the end of each month, thereby eliminating any unbilled consideration for these rate classes. Other revenues Other revenues primarily consist of miscellaneous fees and charges, utility-related revenues not no Alternative Revenue Program revenues ARPs, which fall outside the scope of ASC 606, 30 Customer Accounts Receivable Accounts receivable, as reflected in the condensed consolidated balance sheets, includes both billed and unbilled customer revenues, as well as amounts that are not Current Assets Current Liabilities Trade accounts receivable (1) Unbilled revenue (1) Customer credit balances Customer deposits Balance at September 30, 2020 $ 2,343,492 $ 1,041,518 $ 1,587,061 $ 1,611,476 Balance at March 31, 2021 7,445,589 1,832,773 851,968 1,605,684 Increase (decrease) $ 5,102,097 $ 791,255 $ (735,093 ) $ (5,792 ) ( 1 The Company had no not

Note 3 - Income Taxes

Note 3 - Income Taxes	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	3. Income Taxes A reconciliation of income tax expense from applying the federal statutory rates in effect for each period to total income tax expense is presented below: Three Months Ended March 31, Six Months Ended March 31, 2021 2020 2021 2020 Income before income taxes $ 6,375,413 $ 7,467,808 $ 12,623,680 $ 12,716,331 Corporate federal tax rate 21.0 % 21.0 % 21.0 % 21.0 % Income tax expense computed at the federal statutory rate $ 1,338,837 $ 1,568,240 $ 2,650,973 $ 2,670,430 State income taxes, net of federal tax benefit 305,557 338,631 607,990 588,668 Net amortization of excess deferred taxes on regulated operations (38,124 ) (38,124 ) (124,332 ) (124,332 ) Other, net 1,665 (81,255 ) (1,692 ) (105,687 ) Total income tax expense $ 1,607,935 $ 1,787,492 $ 3,132,939 $ 3,029,079 Effective tax rate 25.2 % 23.9 % 24.8 % 23.8 %

Note 4 - Rates and Regulatory M

Note 4 - Rates and Regulatory Matters	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Public Utilities Disclosure [Text Block]	4. Rates and Regulatory Matters On March 16, 2020, 19, May 15, 2020, October 5, 2020. not 60 In April 2020, 19 not 19 2021 CARES Act funds have been provided to assist customers with past due balances. In December 2020, February 2021 April 30, 2021

Note 5 - Other Investments

Note 5 - Other Investments	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	5. Other Investments Midstream is an approximately 1% owner of the LLC constructing the MVP. The LLC has changed its approach in seeking authorization to cross all remaining streams and wetlands on the project route. It requested individual permits from the U.S. Army Corps of Engineers to cross certain streams and wetlands utilizing open cut techniques and has applied to amend the MVP project's CPCN to seek FERC authority to cross certain streams and wetlands utilizing alternative trenchless construction methods. The LLC is targeting a full in-service date for the MVP project in summer 2022 The LLC suspended accruing AFUDC on the project subsequent to December 31, 2020 not first 2021, Roanoke Gas will continue to suspend accruing AFUDC on its two first 2021. Funding for Midstream's investments in the LLC for both the MVP and Southgate projects is being provided through two December 2022, two June 2019. 7 The investments in the LLC are included in the accompanying financial statements as follows: Balance Sheet location: March 31, 2021 September 30, 2020 Other Assets: MVP $ 60,156,954 $ 57,183,063 Southgate 387,540 359,742 Investment in unconsolidated affiliates $ 60,544,494 $ 57,542,805 Current Liabilities: MVP $ 1,440,329 $ 2,501,883 Southgate 903 10,554 Capital contributions payable $ 1,441,232 $ 2,512,437 Three Months Ended Six Months Ended Income Statement location: March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 Equity in earnings (loss) of unconsolidated affiliate $ (3,797 ) $ 1,188,593 $ 1,352,886 $ 2,282,679 March 31, 2021 September 30, 2020 Undistributed earnings, net of income taxes, of MVP in retained earnings $ 7,847,356 $ 6,842,702 The change in the investment in unconsolidated affiliates is provided below: Six Months Ended March 31, 2021 March 31, 2020 Cash investment $ 2,720,008 $ 5,931,060 Change in accrued capital calls (1,071,205 ) (3,298,038 ) Equity in earnings of unconsolidated affiliate 1,352,886 2,282,679 Change in investment in unconsolidated affiliates $ 3,001,689 $ 4,915,701 Summary unaudited financial statements of MVP are presented below. Southgate financial statements, which are accounted for under the cost method, are not Income Statements Three Months Ended Six Months Ended March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 AFUDC $ — $ 117,754,887 $ 133,757,314 $ 227,780,361 Other income (expense), net 5,514 (34,575 ) (47,094 ) 699,607 Net income $ 5,514 $ 117,720,312 $ 133,710,220 $ 228,479,968 Balance Sheets March 31, 2021 September 30, 2020 Assets: Current assets $ 163,664,436 $ 513,713,429 Construction work in progress 5,935,832,366 5,536,248,668 Other assets 2,363,875 4,597,441 Total assets $ 6,101,860,677 $ 6,054,559,538 Liabilities and Equity: Current liabilities $ 184,699,507 $ 187,581,804 Noncurrent liabilities 303,706 245,000 Capital 5,916,857,464 5,866,732,734 Total liabilities and equity $ 6,101,860,677 $ 6,054,559,538

Note 6 - Derivatives and Hedgin

Note 6 - Derivatives and Hedging	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	6. Derivatives and Hedging The Company’s hedging and derivative policy allows management to enter into derivatives for the purpose of managing the commodity and financial market risks of its business operations, including the price of natural gas and the cost of borrowed funds. This policy specifically prohibits the use of derivatives for speculative purposes. The Company has three two two No The Company had no The fair value of the current and non-current portions of the interest rate swaps are reflected in the condensed consolidated balance sheets under the caption interest rate swaps. The table in Note 8

Note 7 - Long-term Debt

Note 7 - Long-term Debt	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	7. Long-Term Debt On March 25, 2021, two March 31, 2023 not 12 30 Long-term debt consists of the following: March 31, 2021 September 30, 2020 Principal Unamortized Debt Issuance Costs Principal Unamortized Debt Issuance Costs Roanoke Gas Company: Unsecured senior notes payable, at 4.26% $ 30,500,000 $ 130,330 $ 30,500,000 $ 135,157 Unsecured term note payable, at 30-day LIBOR plus 0.90% 7,000,000 1,945 7,000,000 3,613 Unsecured term notes payable, at 3.58% 8,000,000 31,304 8,000,000 33,712 Unsecured term notes payable, at 4.41% 10,000,000 31,326 10,000,000 32,892 Unsecured term notes payable, at 3.60% 10,000,000 30,824 10,000,000 32,585 RGC Midstream, LLC: Unsecured term notes payable, at 30-day LIBOR plus 1.35% 29,255,200 20,866 25,475,200 38,728 Unsecured term note payable, at 30-day LIBOR plus 1.15% 14,000,000 12,640 14,000,000 13,844 Unsecured term note payable, at 30-day LIBOR plus 1.20% 10,000,000 7,465 10,000,000 8,644 Total notes payable, current and non-current 118,755,200 266,700 114,975,200 299,175 Less: current maturities of long-term debt (7,000,000 ) — — — Total notes payable $ 111,755,200 $ 266,700 $ 114,975,200 $ 299,175 Line-of-credit, at 30-day LIBOR plus 1.00% 9,281,929 - 9,143,606 - Total long-term debt $ 121,037,129 $ 266,700 $ 124,118,806 $ 299,175 All debt agreements set forth certain representations, warranties and covenants to which the Company is subject, including financial covenants that limit consolidated long-term indebtedness to not not March 31, 2021 September 30, 2020.

Note 8 - Other Comprehensive In

Note 8 - Other Comprehensive Income (Loss)	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	8. Other Comprehensive Income (Loss) A summary of other comprehensive income and loss is provided below: Tax Before-Tax (Expense) Net-of-Tax Amount or Benefit Amount Three Months Ended March 31, 2021 Interest rate swaps: Unrealized gains $ 529,356 $ (136,257 ) $ 393,099 Transfer of realized losses to interest expense 136,270 (35,075 ) 101,195 Net interest rate swaps 665,626 (171,332 ) 494,294 Defined benefit plans: Amortization of actuarial losses 20,017 (5,153 ) 14,864 Other comprehensive income $ 685,643 $ (176,485 ) $ 509,158 Three Months Ended March 31, 2020 Interest rate swaps: Unrealized losses $ (1,654,962 ) $ 425,987 $ (1,228,975 ) Transfer of realized losses to interest expense 16,698 (4,297 ) 12,401 Net interest rate swaps (1,638,264 ) 421,690 (1,216,574 ) Defined benefit plans: Amortization of actuarial losses 22,610 (5,819 ) 16,791 Other comprehensive loss $ (1,615,654 ) $ 415,871 $ (1,199,783 ) Tax Before-Tax (Expense) Net-of-Tax Amount or Benefit Amount Six Months Ended March 31, 2021 Interest rate swaps: Unrealized gains $ 619,126 $ (159,364 ) $ 459,762 Transfer of realized losses to interest expense 273,708 (70,451 ) 203,257 Net interest rate swaps 892,834 (229,815 ) 663,019 Defined benefit plans: Amortization of actuarial losses 40,034 (10,306 ) 29,728 Other comprehensive income $ 932,868 $ (240,121 ) $ 692,747 Six Months Ended March 31, 2020 Interest rate swaps: Unrealized losses $ (1,304,269 ) $ 335,718 $ (968,551 ) Transfer of realized losses to interest expense 20,238 (5,208 ) 15,030 Net interest rate swaps (1,284,031 ) 330,510 (953,521 ) Defined benefit plans: Amortization of actuarial losses 45,220 (11,638 ) 33,582 Other comprehensive loss $ (1,238,811 ) $ 318,872 $ (919,939 ) The amortization of actuarial gains and losses, reflected in the preceding table, relate to the unregulated operations of the Company. The regulated operations are included as a regulatory asset. The amortization of actual gains and losses is recognized as a component of net periodic pension and postretirement benefit costs under other income, net. Reconciliation of Accumulated Other Comprehensive Income (Loss) Accumulated Other Interest Rate Defined Benefit Comprehensive Swaps Plans Income (Loss) Balance at September 30, 2020 $ (1,651,213 ) $ (1,796,731 ) $ (3,447,944 ) Other comprehensive income 663,019 29,728 692,747 Balance at March 31, 2021 $ (988,194 ) $ (1,767,003 ) $ (2,755,197 )

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. Commitments and Contingencies The outbreak of COVID- 19 19 may 19

Note 10 - Earnings Per Share

Note 10 - Earnings Per Share	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	10. Earnings Per Share Basic earnings per common share for the three six March 31, 2021 2020 A reconciliation of basic and diluted earnings per share is presented below: Three Months Ended March 31, Six Months Ended March 31, 2021 2020 2021 2020 Net income $ 4,767,478 $ 5,680,316 $ 9,490,741 $ 9,687,252 Weighted average common shares 8,217,822 8,122,157 8,192,533 8,101,887 Effect of dilutive securities: Options to purchase common stock 12,828 22,806 13,621 27,331 Diluted average common shares 8,230,650 8,144,963 8,206,154 8,129,218 Earnings per share of common stock: Basic $ 0.58 $ 0.70 $ 1.16 $ 1.20 Diluted $ 0.58 $ 0.70 $ 1.16 $ 1.19

Note 11 - Employee Benefit Plan

Note 11 - Employee Benefit Plans	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Retirement Benefits [Text Block]	11. Employee Benefit Plans The Company has both a pension plan and a postretirement plan. The pension plan covers the Company’s employees hired before January 1, 2017 Three Months Ended Six Months Ended March 31, March 31, 2021 2020 2021 2020 Components of net periodic pension cost: Service cost $ 183,570 $ 172,902 $ 367,140 $ 345,804 Interest cost 243,785 265,557 487,570 531,114 Expected return on plan assets (503,936 ) (459,156 ) (1,007,872 ) (918,312 ) Recognized loss 125,535 113,936 251,070 227,872 Net periodic pension cost $ 48,954 $ 93,239 $ 97,908 $ 186,478 Three Months Ended Six Months Ended March 31, March 31, 2021 2020 2021 2020 Components of postretirement benefit cost: Service cost $ 35,172 $ 41,970 $ 70,344 $ 83,940 Interest cost 107,623 132,869 215,246 265,738 Expected return on plan assets (149,122 ) (137,599 ) (298,244 ) (275,198 ) Recognized loss 38,664 59,343 77,328 118,686 Net postretirement benefit cost $ 32,337 $ 96,583 $ 64,674 $ 193,166 The components of net periodic benefit cost, other than the service cost component, are included in other income, net in the condensed consolidated statements of income. Service cost is included in operations and maintenance expense in the condensed consolidated statements of income. The table below reflects the Company's actual contributions made fiscal year-to-date and the expected contributions to be made during the balance of the current fiscal year. Fiscal Year-to-Date Contributions Remaining Fiscal Year Contributions Pension plan $ — $ 500,000 Postretirement plan — 400,000 Total $ — $ 900,000

Note 12 - Fair Value Measuremen

Note 12 - Fair Value Measurements	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	12. Fair Value Measurements FASB ASC No. 820, Fair Value Measurements and Disclosures one three Level 1 Level 2 1 not Level 3 The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets (Level 1 3 The following table summarizes the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as required by existing guidance and the fair value measurements by level within the fair value hierarchy: Fair Value Measurements - March 31, 2021 Quoted Significant Prices Other Significant in Active Observable Unobservable Fair Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Natural gas purchases $ 124,948 $ — $ 124,948 $ — Interest rate swaps 1,330,722 — 1,330,722 — Total $ 1,455,670 $ — $ 1,455,670 $ — Fair Value Measurements - September 30, 2020 Quoted Significant Prices Other Significant in Active Observable Unobservable Fair Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Natural gas purchases $ 470,755 $ — $ 470,755 $ — Interest rate swaps 2,223,556 — 2,223,556 — Total $ 2,694,311 $ — $ 2,694,311 $ — The fair value of the interest rate swaps are determined by using the counterparty's proprietary models and certain assumptions regarding past, present and future market conditions. Under the asset management contract, a timing difference can exist between the payment for natural gas purchases and the actual receipt of such purchases. Payments are made based on a predetermined monthly volume with the price based on weighted average first March 31, 2021 September 30, 2020 first The Company’s nonfinancial assets and liabilities measured at fair value on a nonrecurring basis consist of its AROs. The AROs are measured at fair value at initial recognition based on expected future cash flows required to settle the obligation. The carrying value of cash and cash equivalents, accounts receivable, borrowings under line-of-credit, accounts payable (with the exception of the timing difference under the asset management contract), customer credit balances and customer deposits is a reasonable estimate of fair value due to the short-term nature of these financial instruments. In addition, the carrying amount of the variable rate line-of-credit is a reasonable approximation of its fair value. The following table summarizes the fair value of the Company’s financial assets and liabilities that are not Fair Value Measurements - March 31, 2021 Quoted Significant Prices Other Significant in Active Observable Unobservable Carrying Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Current maturities of long-term debt $ 7,000,000 — — $ 7,000,000 Notes payable 111,755,200 $ — $ — 118,949,157 Total $ 118,755,200 $ — $ — $ 125,949,157 Fair Value Measurements - September 30, 2020 Quoted Significant Prices Other Significant in Active Observable Unobservable Carrying Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Notes payable $ 114,975,200 $ — $ — $ 124,740,970 Total $ 114,975,200 $ — $ — $ 124,740,970 The fair value of long-term debt is estimated by discounting the future cash flows of the fixed rate debt based on the underlying Treasury rate or other Treasury instruments with a corresponding maturity period and estimated credit spread extrapolated based on market conditions since the issuance of the debt. FASB ASC 825, Financial Instruments three March 31, 2021 September 30, 2020 no 5%

Note 13 - Segment Information

Note 13 - Segment Information	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. Segment Information Operating segments are defined as components of an enterprise for which separate financial information is available and is evaluated regularly by the Company's chief operating decision maker in deciding how to allocate resources and assess performance. The Company uses operating income and equity in earnings to assess segment performance. Intersegment transactions are recorded at cost. The reportable segments disclosed herein are defined as follows: Gas Utility Investment in Affiliates Parent and Other Information related to the segments of the Company are provided below: Three Months Ended March 31, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 28,221,274 $ — $ 32,388 $ 28,253,662 Depreciation 2,128,304 — — 2,128,304 Operating income (loss) 7,175,532 (102,295 ) 26,189 7,099,426 Equity in earnings (loss) — (3,797 ) — (3,797 ) Interest expense 707,532 300,232 — 1,007,764 Income (loss) before income taxes 6,750,004 (400,880 ) 26,289 6,375,413 Three Months Ended March 31, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 22,275,719 $ — $ 162,012 $ 22,437,731 Depreciation 1,988,216 — — 1,988,216 Operating income (loss) 6,988,528 (69,526 ) 80,614 6,999,616 Equity in earnings — 1,188,593 — 1,188,593 Interest expense 661,997 376,296 — 1,038,293 Income before income taxes 6,642,411 744,698 80,699 7,467,808 Six Months Ended March 31, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 47,704,774 $ — $ 65,905 $ 47,770,679 Depreciation 4,281,702 — — 4,281,702 Operating income (loss) 12,788,574 (153,142 ) 45,381 12,680,813 Equity in earnings — 1,352,886 — 1,352,886 Interest expense 1,411,862 615,731 — 2,027,593 Income before income taxes 11,986,004 592,045 45,631 12,623,680 Six Months Ended March 31, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 41,901,325 $ — $ 321,859 $ 42,223,184 Depreciation 3,976,721 — — 3,976,721 Operating income (loss) 12,030,013 (108,117 ) 159,699 12,081,595 Equity in earnings — 2,282,679 — 2,282,679 Interest expense 1,380,850 742,628 — 2,123,478 Income before income taxes 11,121,293 1,435,052 159,986 12,716,331 March 31, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Total assets $ 218,924,307 $ 60,987,637 $ 12,252,094 $ 292,164,038 September 30, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Total assets $ 211,994,364 $ 57,660,105 $ 12,025,038 $ 281,679,507

Note 14 - Regulatory Assets and

Note 14 - Regulatory Assets and Liabilities	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Schedule of Regulatory Assets and Liabilities [Text Block]	14. Regulatory Assets and Liabilities The Company’s regulated operations follow the accounting and reporting requirements of FASB ASC No. 980, Regulated Operations No. 980 no No. 980 no Regulatory assets included in the Company’s accompanying balance sheets are as follows: March 31, 2021 September 30, 2020 Assets: Current Assets: Regulatory assets: WNA $ 583,539 $ — Under-recovery of gas costs 747,232 1,733,718 Under-recovery of SAVE Plan revenues 20,021 108,550 Accrued pension and postretirement medical 288,365 576,731 Other deferred expenses 84,315 84,315 Total current 1,723,472 2,503,314 Utility Property: In service: Other 11,945 11,945 Construction work in progress: AFUDC 386,189 330,208 Other Assets: Regulatory assets: Premium on early retirement of debt 1,541,527 1,598,620 Accrued pension and postretirement medical 9,156,546 9,156,546 Other deferred expenses 276,565 214,928 Total non-current 10,974,638 10,970,094 Total regulatory assets $ 13,096,244 $ 13,815,561 Regulatory liabilities included in the Company’s accompanying balance sheets are as follows: March 31, 2021 September 30, 2020 Liabilities and Stockholders' Equity: Current Liabilities: Regulatory liabilities: WNA — 601,784 Excess deferred income taxes 205,353 205,353 Other deferred liabilities 17,020 83,176 Total current 222,373 890,313 Deferred Credits and Other Liabilities: Asset retirement obligations 7,396,895 7,180,982 Regulatory cost of retirement obligations 13,122,705 12,678,043 Regulatory Liabilities: Excess deferred income taxes 10,561,654 10,729,082 Total non-current 31,081,254 30,588,107 Total regulatory liabilities $ 31,303,627 $ 31,478,420 As of March 31, 2021 September 30, 2020 not

Note 15 - Subsequent Events

Note 15 - Subsequent Events	6 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	15. Subsequent Events The Company has evaluated subsequent events through the date the financial statements were issued. There were no not

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Resources is an energy services company primarily engaged in the sale and distribution of natural gas. The condensed consolidated financial statements include the accounts of Resources and its wholly-owned subsidiaries: Roanoke Gas, Diversified Energy and Midstream. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to fairly present Resources' financial position as of March 31, 2021 six March 31, 2021 2020 three six March 31, 2021 2020 three six March 31, 2021 not September 30, 2021 The unaudited condensed consolidated financial statements and condensed notes are presented as permitted under the rules and regulations of the SEC. Pursuant to those rules, certain information and note disclosures normally included in the annual financial statements prepared in accordance with GAAP have been condensed or omitted, although the Company believes that the disclosures are adequate to make the information not 10 September 30, 2020 September 30, 2020 10 The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant accounting policies are described in Note 1 10 September 30, 2020
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued or Adopted Accounting Standards In August 2018, 2018 14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715 20 September 30, 2021. October 1, 2020. not In March 2020, 2020 04, Reference Rate Reform (Topic 848 2021 01, December 31, 2022. not Other accounting standards that have been issued by the FASB or other standard-setting bodies are not not
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassification Certain prior year amounts have been reclassified to conform with current year presentation.

Note 2 - Revenue (Tables)

Note 2 - Revenue (Tables)	6 Months Ended
	Mar. 31, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Gas utility Non utility Total operating revenues Gas utility Non utility Total operating revenues Natural Gas (Billed and Unbilled): Residential $ 17,402,552 $ — $ 17,402,552 $ 12,892,659 $ — $ 12,892,659 Commercial 9,264,611 — 9,264,611 6,368,939 — 6,368,939 Industrial and Transportation 1,252,343 — 1,252,343 1,243,426 — 1,243,426 Other 95,092 32,388 127,480 117,466 162,012 279,478 Total contracts with customers 28,014,598 32,388 28,046,986 20,622,490 162,012 20,784,502 Alternative Revenue Programs 206,676 — 206,676 1,653,229 — 1,653,229 Total operating revenues $ 28,221,274 $ 32,388 $ 28,253,662 $ 22,275,719 $ 162,012 $ 22,437,731 Six Months Ended March 31, 2021 Six Months Ended March 31, 2020 Gas utility Non utility Total operating revenues Gas utility Non utility Total operating revenues Natural Gas (Billed and Unbilled): Residential $ 28,648,746 $ — $ 28,648,746 $ 25,177,242 $ — $ 25,177,242 Commercial 15,254,631 — 15,254,631 12,102,779 — 12,102,779 Industrial and Transportation 2,476,144 — 2,476,144 2,570,669 — 2,570,669 Other 256,169 65,905 322,074 333,461 321,859 655,320 Total contracts with customers 46,635,690 65,905 46,701,595 40,184,151 321,859 40,506,010 Alternative Revenue Programs 1,069,084 — 1,069,084 1,717,174 — 1,717,174 Total operating revenues $ 47,704,774 $ 65,905 $ 47,770,679 $ 41,901,325 $ 321,859 $ 42,223,184
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Current Assets Current Liabilities Trade accounts receivable (1) Unbilled revenue (1) Customer credit balances Customer deposits Balance at September 30, 2020 $ 2,343,492 $ 1,041,518 $ 1,587,061 $ 1,611,476 Balance at March 31, 2021 7,445,589 1,832,773 851,968 1,605,684 Increase (decrease) $ 5,102,097 $ 791,255 $ (735,093 ) $ (5,792 )

Note 3 - Income Taxes (Tables)

Note 3 - Income Taxes (Tables)	6 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended March 31, Six Months Ended March 31, 2021 2020 2021 2020 Income before income taxes $ 6,375,413 $ 7,467,808 $ 12,623,680 $ 12,716,331 Corporate federal tax rate 21.0 % 21.0 % 21.0 % 21.0 % Income tax expense computed at the federal statutory rate $ 1,338,837 $ 1,568,240 $ 2,650,973 $ 2,670,430 State income taxes, net of federal tax benefit 305,557 338,631 607,990 588,668 Net amortization of excess deferred taxes on regulated operations (38,124 ) (38,124 ) (124,332 ) (124,332 ) Other, net 1,665 (81,255 ) (1,692 ) (105,687 ) Total income tax expense $ 1,607,935 $ 1,787,492 $ 3,132,939 $ 3,029,079 Effective tax rate 25.2 % 23.9 % 24.8 % 23.8 %

Note 5 - Other Investments (Tab

Note 5 - Other Investments (Tables)	6 Months Ended
	Mar. 31, 2021
Notes Tables
Investment [Table Text Block]	Balance Sheet location: March 31, 2021 September 30, 2020 Other Assets: MVP $ 60,156,954 $ 57,183,063 Southgate 387,540 359,742 Investment in unconsolidated affiliates $ 60,544,494 $ 57,542,805 Current Liabilities: MVP $ 1,440,329 $ 2,501,883 Southgate 903 10,554 Capital contributions payable $ 1,441,232 $ 2,512,437 Three Months Ended Six Months Ended Income Statement location: March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 Equity in earnings (loss) of unconsolidated affiliate $ (3,797 ) $ 1,188,593 $ 1,352,886 $ 2,282,679 March 31, 2021 September 30, 2020 Undistributed earnings, net of income taxes, of MVP in retained earnings $ 7,847,356 $ 6,842,702 Six Months Ended March 31, 2021 March 31, 2020 Cash investment $ 2,720,008 $ 5,931,060 Change in accrued capital calls (1,071,205 ) (3,298,038 ) Equity in earnings of unconsolidated affiliate 1,352,886 2,282,679 Change in investment in unconsolidated affiliates $ 3,001,689 $ 4,915,701
Equity Method Investments [Table Text Block]	Income Statements Three Months Ended Six Months Ended March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 AFUDC $ — $ 117,754,887 $ 133,757,314 $ 227,780,361 Other income (expense), net 5,514 (34,575 ) (47,094 ) 699,607 Net income $ 5,514 $ 117,720,312 $ 133,710,220 $ 228,479,968 Balance Sheets March 31, 2021 September 30, 2020 Assets: Current assets $ 163,664,436 $ 513,713,429 Construction work in progress 5,935,832,366 5,536,248,668 Other assets 2,363,875 4,597,441 Total assets $ 6,101,860,677 $ 6,054,559,538 Liabilities and Equity: Current liabilities $ 184,699,507 $ 187,581,804 Noncurrent liabilities 303,706 245,000 Capital 5,916,857,464 5,866,732,734 Total liabilities and equity $ 6,101,860,677 $ 6,054,559,538

Note 7 - Long-term Debt (Tables

Note 7 - Long-term Debt (Tables)	6 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	March 31, 2021 September 30, 2020 Principal Unamortized Debt Issuance Costs Principal Unamortized Debt Issuance Costs Roanoke Gas Company: Unsecured senior notes payable, at 4.26% $ 30,500,000 $ 130,330 $ 30,500,000 $ 135,157 Unsecured term note payable, at 30-day LIBOR plus 0.90% 7,000,000 1,945 7,000,000 3,613 Unsecured term notes payable, at 3.58% 8,000,000 31,304 8,000,000 33,712 Unsecured term notes payable, at 4.41% 10,000,000 31,326 10,000,000 32,892 Unsecured term notes payable, at 3.60% 10,000,000 30,824 10,000,000 32,585 RGC Midstream, LLC: Unsecured term notes payable, at 30-day LIBOR plus 1.35% 29,255,200 20,866 25,475,200 38,728 Unsecured term note payable, at 30-day LIBOR plus 1.15% 14,000,000 12,640 14,000,000 13,844 Unsecured term note payable, at 30-day LIBOR plus 1.20% 10,000,000 7,465 10,000,000 8,644 Total notes payable, current and non-current 118,755,200 266,700 114,975,200 299,175 Less: current maturities of long-term debt (7,000,000 ) — — — Total notes payable $ 111,755,200 $ 266,700 $ 114,975,200 $ 299,175 Line-of-credit, at 30-day LIBOR plus 1.00% 9,281,929 - 9,143,606 - Total long-term debt $ 121,037,129 $ 266,700 $ 124,118,806 $ 299,175

Note 8 - Other Comprehensive _2

Note 8 - Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Mar. 31, 2021
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	Tax Before-Tax (Expense) Net-of-Tax Amount or Benefit Amount Three Months Ended March 31, 2021 Interest rate swaps: Unrealized gains $ 529,356 $ (136,257 ) $ 393,099 Transfer of realized losses to interest expense 136,270 (35,075 ) 101,195 Net interest rate swaps 665,626 (171,332 ) 494,294 Defined benefit plans: Amortization of actuarial losses 20,017 (5,153 ) 14,864 Other comprehensive income $ 685,643 $ (176,485 ) $ 509,158 Three Months Ended March 31, 2020 Interest rate swaps: Unrealized losses $ (1,654,962 ) $ 425,987 $ (1,228,975 ) Transfer of realized losses to interest expense 16,698 (4,297 ) 12,401 Net interest rate swaps (1,638,264 ) 421,690 (1,216,574 ) Defined benefit plans: Amortization of actuarial losses 22,610 (5,819 ) 16,791 Other comprehensive loss $ (1,615,654 ) $ 415,871 $ (1,199,783 ) Tax Before-Tax (Expense) Net-of-Tax Amount or Benefit Amount Six Months Ended March 31, 2021 Interest rate swaps: Unrealized gains $ 619,126 $ (159,364 ) $ 459,762 Transfer of realized losses to interest expense 273,708 (70,451 ) 203,257 Net interest rate swaps 892,834 (229,815 ) 663,019 Defined benefit plans: Amortization of actuarial losses 40,034 (10,306 ) 29,728 Other comprehensive income $ 932,868 $ (240,121 ) $ 692,747 Six Months Ended March 31, 2020 Interest rate swaps: Unrealized losses $ (1,304,269 ) $ 335,718 $ (968,551 ) Transfer of realized losses to interest expense 20,238 (5,208 ) 15,030 Net interest rate swaps (1,284,031 ) 330,510 (953,521 ) Defined benefit plans: Amortization of actuarial losses 45,220 (11,638 ) 33,582 Other comprehensive loss $ (1,238,811 ) $ 318,872 $ (919,939 )
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Accumulated Other Interest Rate Defined Benefit Comprehensive Swaps Plans Income (Loss) Balance at September 30, 2020 $ (1,651,213 ) $ (1,796,731 ) $ (3,447,944 ) Other comprehensive income 663,019 29,728 692,747 Balance at March 31, 2021 $ (988,194 ) $ (1,767,003 ) $ (2,755,197 )

Note 10 - Earnings Per Share (T

Note 10 - Earnings Per Share (Tables)	6 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, Six Months Ended March 31, 2021 2020 2021 2020 Net income $ 4,767,478 $ 5,680,316 $ 9,490,741 $ 9,687,252 Weighted average common shares 8,217,822 8,122,157 8,192,533 8,101,887 Effect of dilutive securities: Options to purchase common stock 12,828 22,806 13,621 27,331 Diluted average common shares 8,230,650 8,144,963 8,206,154 8,129,218 Earnings per share of common stock: Basic $ 0.58 $ 0.70 $ 1.16 $ 1.20 Diluted $ 0.58 $ 0.70 $ 1.16 $ 1.19

Note 11 - Employee Benefit Pl_2

Note 11 - Employee Benefit Plans (Tables)	6 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended Six Months Ended March 31, March 31, 2021 2020 2021 2020 Components of net periodic pension cost: Service cost $ 183,570 $ 172,902 $ 367,140 $ 345,804 Interest cost 243,785 265,557 487,570 531,114 Expected return on plan assets (503,936 ) (459,156 ) (1,007,872 ) (918,312 ) Recognized loss 125,535 113,936 251,070 227,872 Net periodic pension cost $ 48,954 $ 93,239 $ 97,908 $ 186,478 Three Months Ended Six Months Ended March 31, March 31, 2021 2020 2021 2020 Components of postretirement benefit cost: Service cost $ 35,172 $ 41,970 $ 70,344 $ 83,940 Interest cost 107,623 132,869 215,246 265,738 Expected return on plan assets (149,122 ) (137,599 ) (298,244 ) (275,198 ) Recognized loss 38,664 59,343 77,328 118,686 Net postretirement benefit cost $ 32,337 $ 96,583 $ 64,674 $ 193,166
Summary of Employer Contributions to Defined Benefit Plans [Table Text Block]	Fiscal Year-to-Date Contributions Remaining Fiscal Year Contributions Pension plan $ — $ 500,000 Postretirement plan — 400,000 Total $ — $ 900,000

Note 12 - Fair Value Measurem_2

Note 12 - Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Fair Value Measurements - March 31, 2021 Quoted Significant Prices Other Significant in Active Observable Unobservable Fair Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Natural gas purchases $ 124,948 $ — $ 124,948 $ — Interest rate swaps 1,330,722 — 1,330,722 — Total $ 1,455,670 $ — $ 1,455,670 $ — Fair Value Measurements - September 30, 2020 Quoted Significant Prices Other Significant in Active Observable Unobservable Fair Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Natural gas purchases $ 470,755 $ — $ 470,755 $ — Interest rate swaps 2,223,556 — 2,223,556 — Total $ 2,694,311 $ — $ 2,694,311 $ —
Fair Value, by Balance Sheet Grouping [Table Text Block]	Fair Value Measurements - March 31, 2021 Quoted Significant Prices Other Significant in Active Observable Unobservable Carrying Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Current maturities of long-term debt $ 7,000,000 — — $ 7,000,000 Notes payable 111,755,200 $ — $ — 118,949,157 Total $ 118,755,200 $ — $ — $ 125,949,157 Fair Value Measurements - September 30, 2020 Quoted Significant Prices Other Significant in Active Observable Unobservable Carrying Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Notes payable $ 114,975,200 $ — $ — $ 124,740,970 Total $ 114,975,200 $ — $ — $ 124,740,970

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	6 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 28,221,274 $ — $ 32,388 $ 28,253,662 Depreciation 2,128,304 — — 2,128,304 Operating income (loss) 7,175,532 (102,295 ) 26,189 7,099,426 Equity in earnings (loss) — (3,797 ) — (3,797 ) Interest expense 707,532 300,232 — 1,007,764 Income (loss) before income taxes 6,750,004 (400,880 ) 26,289 6,375,413 Three Months Ended March 31, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 22,275,719 $ — $ 162,012 $ 22,437,731 Depreciation 1,988,216 — — 1,988,216 Operating income (loss) 6,988,528 (69,526 ) 80,614 6,999,616 Equity in earnings — 1,188,593 — 1,188,593 Interest expense 661,997 376,296 — 1,038,293 Income before income taxes 6,642,411 744,698 80,699 7,467,808 Six Months Ended March 31, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 47,704,774 $ — $ 65,905 $ 47,770,679 Depreciation 4,281,702 — — 4,281,702 Operating income (loss) 12,788,574 (153,142 ) 45,381 12,680,813 Equity in earnings — 1,352,886 — 1,352,886 Interest expense 1,411,862 615,731 — 2,027,593 Income before income taxes 11,986,004 592,045 45,631 12,623,680 Six Months Ended March 31, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 41,901,325 $ — $ 321,859 $ 42,223,184 Depreciation 3,976,721 — — 3,976,721 Operating income (loss) 12,030,013 (108,117 ) 159,699 12,081,595 Equity in earnings — 2,282,679 — 2,282,679 Interest expense 1,380,850 742,628 — 2,123,478 Income before income taxes 11,121,293 1,435,052 159,986 12,716,331 March 31, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Total assets $ 218,924,307 $ 60,987,637 $ 12,252,094 $ 292,164,038 September 30, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Total assets $ 211,994,364 $ 57,660,105 $ 12,025,038 $ 281,679,507

Note 14 - Regulatory Assets a_2

Note 14 - Regulatory Assets and Liabilities (Tables)	6 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Regulatory Assets [Table Text Block]	March 31, 2021 September 30, 2020 Assets: Current Assets: Regulatory assets: WNA $ 583,539 $ — Under-recovery of gas costs 747,232 1,733,718 Under-recovery of SAVE Plan revenues 20,021 108,550 Accrued pension and postretirement medical 288,365 576,731 Other deferred expenses 84,315 84,315 Total current 1,723,472 2,503,314 Utility Property: In service: Other 11,945 11,945 Construction work in progress: AFUDC 386,189 330,208 Other Assets: Regulatory assets: Premium on early retirement of debt 1,541,527 1,598,620 Accrued pension and postretirement medical 9,156,546 9,156,546 Other deferred expenses 276,565 214,928 Total non-current 10,974,638 10,970,094 Total regulatory assets $ 13,096,244 $ 13,815,561
Schedule of Regulatory Liabilities [Table Text Block]	March 31, 2021 September 30, 2020 Liabilities and Stockholders' Equity: Current Liabilities: Regulatory liabilities: WNA — 601,784 Excess deferred income taxes 205,353 205,353 Other deferred liabilities 17,020 83,176 Total current 222,373 890,313 Deferred Credits and Other Liabilities: Asset retirement obligations 7,396,895 7,180,982 Regulatory cost of retirement obligations 13,122,705 12,678,043 Regulatory Liabilities: Excess deferred income taxes 10,561,654 10,729,082 Total non-current 31,081,254 30,588,107 Total regulatory liabilities $ 31,303,627 $ 31,478,420

Note 2 - Revenue - Disaggregati

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Total contracts with customers	$ 28,046,986	$ 20,784,502	$ 46,701,595	$ 40,506,010
Alternative Revenue Programs	206,676	1,653,229	1,069,084	1,717,174
Total operating revenues	28,253,662	22,437,731	47,770,679	42,223,184
Oil and Gas [Member] | Residential [Member]
Total contracts with customers	17,402,552	12,892,659	28,648,746	25,177,242
Oil and Gas [Member] | Commercial [Member]
Total contracts with customers	9,264,611	6,368,939	15,254,631	12,102,779
Oil and Gas [Member] | Industrial and Transportation [Member]
Total contracts with customers	1,252,343	1,243,426	2,476,144	2,570,669
Product and Service, Other [Member]
Total contracts with customers	127,480	279,478	322,074	655,320
Gas Utility [Member]
Total contracts with customers	28,014,598	20,622,490	46,635,690	40,184,151
Alternative Revenue Programs	206,676	1,653,229	1,069,084	1,717,174
Total operating revenues	28,221,274	22,275,719	47,704,774	41,901,325
Gas Utility [Member] | Oil and Gas [Member] | Residential [Member]
Total contracts with customers	17,402,552	12,892,659	28,648,746	25,177,242
Gas Utility [Member] | Oil and Gas [Member] | Commercial [Member]
Total contracts with customers	9,264,611	6,368,939	15,254,631	12,102,779
Gas Utility [Member] | Oil and Gas [Member] | Industrial and Transportation [Member]
Total contracts with customers	1,252,343	1,243,426	2,476,144	2,570,669
Gas Utility [Member] | Product and Service, Other [Member]
Total contracts with customers	95,092	117,466	256,169	333,461
Non-utility [Member]
Total contracts with customers	32,388	162,012	65,905	321,859
Alternative Revenue Programs	0	0	0	0
Total operating revenues	32,388	162,012	65,905	321,859
Non-utility [Member] | Oil and Gas [Member] | Residential [Member]
Total contracts with customers	0	0	0	0
Non-utility [Member] | Oil and Gas [Member] | Commercial [Member]
Total contracts with customers	0	0	0	0
Non-utility [Member] | Oil and Gas [Member] | Industrial and Transportation [Member]
Total contracts with customers	0	0	0	0
Non-utility [Member] | Product and Service, Other [Member]
Total contracts with customers	$ 32,388	$ 162,012	$ 65,905	$ 321,859

Note 2 - Revenue - Customer Acc

Note 2 - Revenue - Customer Accounts Receivable (Details) - USD ($)		6 Months Ended
		Mar. 31, 2021	Sep. 30, 2020
Trade accounts receivable		$ 9,828,956	$ 3,404,044
Unbilled revenue	[1]	1,832,773	1,041,518
Customer credit balances		851,968	1,587,061
Customer deposits		1,605,684	1,611,476
Increase (decrease) in Unbilled revenue	[1]	791,255
Increase (decrease) in Customer credit balances		(735,093)
Increase (decrease) in Customer deposits		(5,792)
Trade Accounts Receivable [Member]
Trade accounts receivable	[1]	7,445,589	$ 2,343,492
Increase (decrease) in Trade accounts receivable	[1]	$ 5,102,097
[1]	Included in accounts receivable in the condensed consolidated balance sheet. Amounts shown net of reserve for bad debts.

Note 3 - Income Taxes - Reconci

Note 3 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Income before income taxes	$ 6,375,413	$ 7,467,808	$ 12,623,680	$ 12,716,331
Corporate federal tax rate	21.00%	21.00%	21.00%	21.00%
Income tax expense computed at the federal statutory rate	$ 1,338,837	$ 1,568,240	$ 2,650,973	$ 2,670,430
State income taxes, net of federal tax benefit	305,557	338,631	607,990	588,668
Net amortization of excess deferred taxes on regulated operations	(38,124)	(38,124)	(124,332)	(124,332)
Other, net	1,665	(81,255)	(1,692)	(105,687)
INCOME TAX EXPENSE	$ 1,607,935	$ 1,787,492	$ 3,132,939	$ 3,029,079
Effective tax rate	25.20%	23.90%	24.80%	23.80%

Note 4 - Rates and Regulatory_2

Note 4 - Rates and Regulatory Matters (Details Textual) - USD ($)	1 Months Ended
	Feb. 28, 2021	Dec. 31, 2020
CARES Act, Funds Received		$ 403,000
CARES Act Funds Applied to Customer Accounts	$ 209,000

Note 5 - Other Investments (Det

Note 5 - Other Investments (Details Textual)	3 Months Ended		6 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Income (Loss) from Equity Method Investments, Total	$ (3,797)	$ 1,188,593	$ 1,352,886	$ 2,282,679
Public Utilities, Allowance for Funds Used During Construction, Additions			55,981	$ 217,147
MVP [Member]
Income (Loss) from Equity Method Investments, Total			$ 1,353,000
RGC Midstream LLC [Member]
Debt Instrument, Number of Instruments	2		2
RGC Midstream LLC [Member] | MVP [Member]
Equity Method Investment, Ownership Percentage	1.00%		1.00%
Estimated Total Mountain Valley Pipeline Cost Projection	$ 6,200,000,000		$ 6,200,000,000
Estimated Investment in Mountain Valley Pipeline	$ 65,000,000		65,000,000
Roanoke Gas Company [Member]
Public Utilities, Allowance for Funds Used During Construction, Additions			$ 55,981

Note 5 - Other Investments - Sc

Note 5 - Other Investments - Schedule of Other Investments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2020
Investment in unconsolidated affiliates	$ 60,544,494		$ 60,544,494		$ 57,542,805
Capital contributions payable	1,441,232		1,441,232		2,512,437
Equity in earnings (loss) of unconsolidated affiliate	(3,797)	$ 1,188,593	1,352,886	$ 2,282,679
Undistributed earnings, net of income taxes, of MVP in retained earnings	7,847,356		7,847,356		6,842,702
Cash investment			2,720,008	5,931,060
Change in accrued capital calls			(1,071,205)	(3,298,038)
Change in investment in unconsolidated affiliates			3,001,689	$ 4,915,701
MVP [Member]
Investment in unconsolidated affiliates	60,156,954		60,156,954		57,183,063
Capital contributions payable	1,440,329		1,440,329		2,501,883
Equity in earnings (loss) of unconsolidated affiliate			1,353,000
Southgate [Member]
Investment in unconsolidated affiliates	387,540		387,540		359,742
Capital contributions payable	$ 903		$ 903		$ 10,554

Note 5 - Other Investments - In

Note 5 - Other Investments - Investment in Unconsolidated Entity (Details) - USD ($)	3 Months Ended				6 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2020	Sep. 30, 2019
Other income, net	$ 287,548		$ 317,892		$ 617,574	$ 475,535
Net income	4,767,478	$ 4,723,263	5,680,316	$ 4,006,936	9,490,741	9,687,252
Current assets	16,563,212				16,563,212		$ 14,436,561
Total assets	292,164,038				292,164,038		281,679,507
Current liabilities	20,775,066				20,775,066		16,570,742
Capital	97,574,608	$ 92,549,541	90,317,347	$ 86,359,135	97,574,608	90,317,347	88,887,977	$ 83,096,392
Total liabilities and equity	292,164,038				292,164,038		281,679,507
MVP [Member] | Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
AFUDC	0		117,754,887		133,757,314	227,780,361
Other income, net	5,514		(34,575)		(47,094)	699,607
Net income	5,514		$ 117,720,312		133,710,220	$ 228,479,968
Current assets	163,664,436				163,664,436		513,713,429
Construction work in progress	5,935,832,366				5,935,832,366		5,536,248,668
Other assets	2,363,875				2,363,875		4,597,441
Total assets	6,101,860,677				6,101,860,677		6,054,559,538
Current liabilities	184,699,507				184,699,507		187,581,804
Noncurrent liabilities	303,706				303,706		245,000
Capital	5,916,857,464				5,916,857,464		5,866,732,734
Total liabilities and equity	$ 6,101,860,677				$ 6,101,860,677		$ 6,054,559,538

Note 6 - Derivatives and Hedg_2

Note 6 - Derivatives and Hedging (Details Textual)	Mar. 31, 2021USD ($)	Jun. 13, 2019USD ($)	Jun. 12, 2019USD ($)
Number of Interest Rate Derivatives Held	3
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR Plus 0.90%, Due November 1, 2021 [Member]
Debt Instrument, Face Amount	$ 7,000,000
Derivative, Fixed Interest Rate	2.30%
RGC Midstream LLC [Member]
Number of Interest Rate Derivatives Held	2
Debt Instrument, Number of Instruments	2
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR Plus 1.15% Due June 12, 2026 [Member]
Debt Instrument, Face Amount			$ 14,000,000
Derivative, Fixed Interest Rate			3.24%
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR Plus 1.20%, Due June 1, 2024 [Member]
Debt Instrument, Face Amount		$ 10,000,000
Derivative, Fixed Interest Rate		3.14%

Note 7 - Long-term Debt (Detail

Note 7 - Long-term Debt (Details Textual) - USD ($)	Mar. 25, 2021	Mar. 31, 2021
Debt Instrument, Debt Covenant Ratio of Long-term Debt to Total Capitalization, Maximum		65.00%
Debt Instrument, Debt Covenant, Ratio of Priority Debt to Total Assets, Maximum		15.00%
Roanoke Gas Company [Member] | Line of Credit [Member]
Debt Instrument, Term (Year)	2 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 40,000,000
Debt Instrument, Basis Spread on Variable Rate	1.00%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%
Roanoke Gas Company [Member] | Line of Credit [Member] | Minimum [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 14,000,000
Roanoke Gas Company [Member] | Line of Credit [Member] | Maximum [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 40,000,000

Note 7 - Long-term Debt - Long-

Note 7 - Long-term Debt - Long-term Debt (Details) - USD ($)	Mar. 31, 2021	Sep. 30, 2020
Unamortized Debt Issuance Costs	$ 266,700	$ 299,175
Total notes payable	111,755,200	114,975,200
Total long-term debt	121,037,129	124,118,806
Notes Payable [Member]
Notes payable	118,755,200	114,975,200
Unamortized Debt Issuance Costs	266,700	299,175
Less: current maturities of long-term debt	(7,000,000)	0
Total notes payable	111,755,200	114,975,200
Roanoke Gas Company [Member] | Unsecured Senior Notes Payable [Member] | Unsecured Senior Notes Payable, at 4.26%, Due on September 18, 2034 [Member]
Notes payable	30,500,000	30,500,000
Unamortized Debt Issuance Costs	130,330	135,157
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 0.90%, Due November 1, 2021 [Member]
Notes payable	7,000,000	7,000,000
Unamortized Debt Issuance Costs	1,945	3,613
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 3.58%, Due on October 2, 2027 [Member]
Notes payable	8,000,000	8,000,000
Unamortized Debt Issuance Costs	31,304	33,712
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 4.41 %, Due on March 28, 2031 [Member]
Notes payable	10,000,000	10,000,000
Unamortized Debt Issuance Costs	31,326	32,892
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 3.60%, Due on December 6, 2029 [Member]
Notes payable	10,000,000	10,000,000
Unamortized Debt Issuance Costs	30,824	32,585
Roanoke Gas Company [Member] | Line of Credit [Member] | Line of Credit, at 30-day LIBOR Plus 1.00%, Due March 31, 2022 [Member]
Line-of-credit	9,281,929	9,143,606
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR Plus 1.35%, Due December 29,2022 [Member]
Notes payable	29,255,200	25,475,200
Unamortized Debt Issuance Costs	20,866	38,728
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 1.15%, Due June 12, 2026 [Member]
Notes payable	14,000,000	14,000,000
Unamortized Debt Issuance Costs	12,640	13,844
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 1.20%, Due June 1, 2024 [Member]
Notes payable	10,000,000	10,000,000
Unamortized Debt Issuance Costs	$ 7,465	$ 8,644

Note 7 - Long-term Debt - Lon_2

Note 7 - Long-term Debt - Long-term Debt (Details) (Parentheticals)	Mar. 25, 2021	Mar. 31, 2021	Sep. 30, 2020
Roanoke Gas Company [Member] | Unsecured Senior Notes Payable [Member] | Unsecured Senior Notes Payable, at 4.26%, Due on September 18, 2034 [Member]
Stated rate		4.26%	4.26%
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 0.90%, Due November 1, 2021 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		0.90%	0.90%
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 3.58%, Due on October 2, 2027 [Member]
Stated rate		3.58%	3.58%
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 4.41 %, Due on March 28, 2031 [Member]
Stated rate		4.41%	4.41%
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 3.60%, Due on December 6, 2029 [Member]
Stated rate		3.60%	3.60%
Roanoke Gas Company [Member] | Line of Credit [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Roanoke Gas Company [Member] | Line of Credit [Member] | Line of Credit, at 30-day LIBOR Plus 1.00%, Due March 31, 2022 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.00%	1.00%
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR Plus 1.35%, Due December 29,2022 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.35%	1.35%
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 1.15%, Due June 12, 2026 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.15%	1.15%
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 1.20%, Due June 1, 2024 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.20%	1.20%

Note 8 - Other Comprehensive _3

Note 8 - Other Comprehensive Income (Loss) - Schedule of Other Comprehensive Income and Loss (Details) - USD ($)	3 Months Ended				6 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2021	Mar. 31, 2020
Other comprehensive income	$ 685,643		$ (1,615,654)		$ 932,868	$ (1,238,811)
Other comprehensive income	(176,485)		415,871		(240,121)	318,872
Other comprehensive income (loss), net of tax	509,158	$ 183,589	(1,199,783)	$ 279,844	692,747	(919,939)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Other comprehensive income (loss) before reclassifications	529,356		(1,654,962)		619,126	(1,304,269)
Other comprehensive income before reclassifications	(136,257)		425,987		(159,364)	335,718
Other comprehensive income (loss) before reclassifications	393,099		(1,228,975)		459,762	(968,551)
Reclassifications from accumulated other comprehensive income	136,270		16,698		273,708	20,238
Reclassifications from accumulated other comprehensive income	(35,075)		(4,297)		(70,451)	(5,208)
Reclassifications from accumulated other comprehensive income	101,195		12,401		203,257	15,030
Other comprehensive income	665,626		(1,638,264)		892,834	(1,284,031)
Other comprehensive income	(171,332)		421,690		(229,815)	330,510
Other comprehensive income (loss), net of tax	494,294		(1,216,574)		663,019	(953,521)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Other comprehensive income	20,017		22,610		40,034	45,220
Other comprehensive income	(5,153)		(5,819)		(10,306)	(11,638)
Other comprehensive income (loss), net of tax	$ 14,864		$ 16,791		$ 29,728	$ 33,582

Note 8 - Other Comprehensive _4

Note 8 - Other Comprehensive Income (Loss) - Reconciliation of Accumulated Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended				6 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2021	Mar. 31, 2020
Balance	$ 92,549,541	$ 88,887,977	$ 86,359,135	$ 83,096,392	$ 88,887,977	$ 83,096,392
Other comprehensive income (loss)	509,158	183,589	(1,199,783)	279,844	692,747	(919,939)
Balance	97,574,608	92,549,541	90,317,347	86,359,135	97,574,608	90,317,347
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance		(1,651,213)			(1,651,213)
Other comprehensive income (loss)	494,294		(1,216,574)		663,019	(953,521)
Balance	(988,194)				(988,194)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Balance		(1,796,731)			(1,796,731)
Other comprehensive income (loss)	14,864		16,791		29,728	33,582
Balance	(1,767,003)				(1,767,003)
AOCI Attributable to Parent [Member]
Balance	(3,264,355)	(3,447,944)	(2,209,073)	(2,488,917)	(3,447,944)	(2,488,917)
Other comprehensive income (loss)	509,158	183,589	(1,199,783)	279,844	692,747
Balance	$ (2,755,197)	$ (3,264,355)	$ (3,408,856)	$ (2,209,073)	$ (2,755,197)	$ (3,408,856)

Note 10 - Earnings Per Share -

Note 10 - Earnings Per Share - Earnings Per Share (Details) - USD ($)	3 Months Ended				6 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2021	Mar. 31, 2020
Net income	$ 4,767,478	$ 4,723,263	$ 5,680,316	$ 4,006,936	$ 9,490,741	$ 9,687,252
Weighted average common shares (in shares)	8,217,822		8,122,157		8,192,533	8,101,887
Options to purchase common stock (in shares)	12,828		22,806		13,621	27,331
Diluted average common shares (in shares)	8,230,650		8,144,963		8,206,154	8,129,218
Basic (in dollars per share)	$ 0.58		$ 0.70		$ 1.16	$ 1.20
Diluted (in dollars per share)	$ 0.58		$ 0.70		$ 1.16	$ 1.19

Note 11 - Employee Benefit Pl_3

Note 11 - Employee Benefit Plans - Schedule of Components of Net Periodic Pension and Postretirement Benefit Cost (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Pension Plan [Member]
Service cost	$ 183,570	$ 172,902	$ 367,140	$ 345,804
Interest cost	243,785	265,557	487,570	531,114
Expected return on plan assets	(503,936)	(459,156)	(1,007,872)	(918,312)
Recognized loss	125,535	113,936	251,070	227,872
Net periodic/postretirement pension/benefit cost	48,954	93,239	97,908	186,478
Other Postretirement Benefits Plan [Member]
Service cost	35,172	41,970	70,344	83,940
Interest cost	107,623	132,869	215,246	265,738
Expected return on plan assets	(149,122)	(137,599)	(298,244)	(275,198)
Recognized loss	38,664	59,343	77,328	118,686
Net periodic/postretirement pension/benefit cost	$ 32,337	$ 96,583	$ 64,674	$ 193,166

Note 11 - Employee Benefit Pl_4

Note 11 - Employee Benefit Plans - Schedule of Actual and Expected Employer Contributions (Details)	6 Months Ended
	Mar. 31, 2021USD ($)
Fiscal Year-to-Date Contributions	$ 0
Remaining Fiscal Year Contributions	900,000
Pension Plan [Member]
Fiscal Year-to-Date Contributions	0
Remaining Fiscal Year Contributions	500,000
Other Postretirement Benefits Plan [Member]
Fiscal Year-to-Date Contributions	0
Remaining Fiscal Year Contributions	$ 400,000

Note 12 - Fair Value Measurem_3

Note 12 - Fair Value Measurements - Schedule of Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Mar. 31, 2021	Sep. 30, 2020
Natural gas purchases	$ 124,948	$ 470,755
Total	1,455,670	2,694,311
Interest Rate Swap [Member]
Interest rate swaps	1,330,722	2,223,556
Fair Value, Inputs, Level 1 [Member]
Natural gas purchases	0	0
Total	0	0
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Interest rate swaps	0	0
Fair Value, Inputs, Level 2 [Member]
Natural gas purchases	124,948	470,755
Total	1,455,670	2,694,311
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Interest rate swaps	1,330,722	2,223,556
Fair Value, Inputs, Level 3 [Member]
Natural gas purchases	0	0
Total	0	0
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Interest rate swaps	$ 0	$ 0

Note 12 - Fair Value Measurem_4

Note 12 - Fair Value Measurements - Summary of the Fair Value of Financial Assets and Liabilities Not Adjusted to Fair Value (Details) - USD ($)	Mar. 31, 2021	Sep. 30, 2020
Current maturities of long-term debt	$ 7,000,000	$ 0
Reported Value Measurement [Member]
Current maturities of long-term debt	7,000,000
Notes payable	111,755,200	114,975,200
Total	118,755,200	114,975,200
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Current maturities of long-term debt	0
Notes payable	0	0
Total	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Current maturities of long-term debt	0
Notes payable	0	0
Total	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Current maturities of long-term debt	7,000,000
Notes payable	118,949,157	124,740,970
Total	$ 125,949,157	$ 124,740,970

Note 13 - Segment Information -

Note 13 - Segment Information - Segment Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2020
Operating revenues	$ 28,253,662	$ 22,437,731	$ 47,770,679	$ 42,223,184
Depreciation	2,128,304	1,988,216	4,281,702	3,976,721
Operating income (loss)	7,099,426	6,999,616	12,680,813	12,081,595
Income (Loss) from Equity Method Investments, Total	(3,797)	1,188,593	1,352,886	2,282,679
Interest expense	1,007,764	1,038,293	2,027,593	2,123,478
Income (loss) before income taxes	6,375,413	7,467,808	12,623,680	12,716,331
Total assets	292,164,038		292,164,038		$ 281,679,507
Operating Segments [Member] | Gas Utility [Member]
Operating revenues	28,221,274	22,275,719	47,704,774	41,901,325
Depreciation	2,128,304	1,988,216	4,281,702	3,976,721
Operating income (loss)	7,175,532	6,988,528	12,788,574	12,030,013
Income (Loss) from Equity Method Investments, Total	0	0	0	0
Interest expense	707,532	661,997	1,411,862	1,380,850
Income (loss) before income taxes	6,750,004	6,642,411	11,986,004	11,121,293
Total assets	218,924,307		218,924,307		211,994,364
Operating Segments [Member] | Investment in Affiliates [Member]
Operating revenues	0	0	0	0
Depreciation	0	0	0	0
Operating income (loss)	(102,295)	(69,526)	(153,142)	(108,117)
Income (Loss) from Equity Method Investments, Total	(3,797)	1,188,593	1,352,886	2,282,679
Interest expense	300,232	376,296	615,731	742,628
Income (loss) before income taxes	(400,880)	744,698	592,045	1,435,052
Total assets	60,987,637		60,987,637		57,660,105
Corporate, Non-Segment [Member]
Operating revenues	32,388	162,012	65,905	321,859
Depreciation	0	0	0	0
Operating income (loss)	26,189	80,614	45,381	159,699
Income (Loss) from Equity Method Investments, Total	0	0	0	0
Interest expense	0	0	0	0
Income (loss) before income taxes	26,289	$ 80,699	45,631	$ 159,986
Total assets	$ 12,252,094		$ 12,252,094		$ 12,025,038

Note 14 - Regulatory Assets a_3

Note 14 - Regulatory Assets and Liabilities (Details Textual) - USD ($)	Mar. 31, 2021	Sep. 30, 2020
Remaining Amounts of Regulatory Assets for which No Return on Investment During Recovery Period is Provided	$ 13,084,299	$ 13,803,616

Note 14 - Regulatory Assets a_4

Note 14 - Regulatory Assets and Liabilities - Schedule of Regulatory Assets (Details) - USD ($)	Mar. 31, 2021	Sep. 30, 2020
Regulatory assets	$ 1,723,472	$ 2,503,314
Utility property in service, other	11,945	11,945
Construction work in progress - AFUDC	386,189	330,208
Noncurrent regulatory assets	10,974,638	10,970,094
Total regulatory assets	13,096,244	13,815,561
WNA [Member]
Regulatory assets	583,539	0
Regulatory Clause Revenues, under-recovered [Member]
Regulatory assets	747,232	1,733,718
Under-recovery of SAVE Plan Revenues [Member]
Regulatory assets	20,021	108,550
Pension Costs [Member]
Regulatory assets	288,365	576,731
Noncurrent regulatory assets	9,156,546	9,156,546
Other Assets [Member]
Regulatory assets	84,315	84,315
Noncurrent regulatory assets	276,565	214,928
Deferred Gain (Loss) on Early Extinguishment of Debt [Member]
Noncurrent regulatory assets	$ 1,541,527	$ 1,598,620

Note 14 - Regulatory Assets a_5

Note 14 - Regulatory Assets and Liabilities - Schedule of Regulatory Liabilities (Details) - USD ($)	Mar. 31, 2021	Sep. 30, 2020
Regulatory liabilities	$ 222,373	$ 890,313
Asset retirement obligations	7,396,895	7,180,982
Regulatory cost of retirement obligations	13,122,705	12,678,043
Excess deferred income taxes	10,561,654	10,729,082
Total non-current	31,081,254	30,588,107
Total regulatory liabilities	31,303,627	31,478,420
WNA [Member]
Regulatory liabilities	0	601,784
Tax Cuts and Jobs Act of 2017 Estimated Accounting Change in Tax Rate Regulatory Liability [Member]
Regulatory liabilities	205,353	205,353
Other Liabilities [Member]
Regulatory liabilities	$ 17,020	$ 83,176