Corning Natural Gas Holding (CNIG) 10-Q 11 Aug 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2021	Aug. 11, 2021
Document And Entity Information
Entity Central Index Key	0001582244
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Entity File Number	000-00643
Entity Registrant Name	CORNING NATURAL GAS HOLDING CORPORATION
Entity Incorporation State or Country Code	NY
Entity Tax Identification Number	46-3235589
Entity Address, Address Line One	330 West William Street
Entity Address, City or Town	Corning
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14830
City Area Code	607
Local Phone Number	936-3755
Title of 12(b) Security	None
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		3,083,577

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Plant:
Utility property, plant and equipment	$ 146,600,015	$ 139,743,289
Less: accumulated depreciation	(33,303,384)	(30,853,644)
Total plant, net	113,296,631	108,889,645
Investments:
Marketable securities at fair value	2,358,116	2,193,112
Investment in joint ventures	261,341	264,640
Total Investments	2,619,457	2,457,752
Current assets:
Cash and cash equivalents	291,578	411,700
Customer accounts receivable, (net of allowance for uncollectible accounts of $94,412 and $42,236, respectively)	2,653,707	2,330,342
Other accounts receivable	606,200	527,280
Related party receivables		9,032
Gas stored underground, at average cost	789,251	995,341
Materials and supplies inventories	3,481,878	3,156,345
Prepaid expenses	2,145,320	1,801,883
Total current assets	9,967,934	9,231,923
Regulatory assets:
Unrecovered gas and electric costs	1,614,841	1,966,184
Deferred regulatory costs	5,826,309	4,894,434
Deferred pension	7,510,129	7,352,839
Goodwill	918,121	918,121
Other	723,420	748,408
Total regulatory and other assets	16,592,820	15,879,986
Total assets	142,476,842	136,459,306
Liabilities and capitalization
Long-term debt, less current installments	45,094,139	44,291,626
Less: debt issuance costs	(240,729)	(241,057)
Total long-term debt	44,853,410	44,050,569
Redeemable preferred stock - Series A (Authorized 261,500 shares. Issued and outstanding: 260,600 shares at June 30, 2021 and September 30, 2020, less issuance costs of $22,841 and $30,455, respectively)	6,492,159	6,484,545
Redeemable preferred stock - Series C (Authorized 180,000 shares. Issued and outstanding: 180,000 shares at June 30, 2021 September 30, 2020, less issuance costs of $1,338 and $1,524, respectively)	4,498,662	4,498,476
Current liabilities:
Current portion of long-term debt	5,911,190	6,271,068
Borrowings under lines-of-credit and short-term debt	8,747,610	7,698,269
Accounts payable	4,213,469	2,293,980
Accrued expenses	275,233	339,809
Customer deposits and accrued interest	1,053,436	1,617,976
Dividends declared	530,296	529,301
Total current liabilities	20,731,234	18,750,403
Deferred credits and other liabilities:
Deferred income taxes	8,332,286	7,575,832
Regulatory liabilities	3,012,328	3,243,054
Deferred compensation	1,307,916	1,366,256
Pension costs and post-retirement benefits	9,578,398	9,407,774
Other	1,452,439	193,945
Total deferred credits and other liabilities	23,683,367	21,786,861
Commitments and contingencies
Temporary equity:
Redeemable convertible preferred stock - Series B (Authorized 244,500 shares. Issued and outstanding: 244,263 shares at June 30, 2021 and September 30, 2020)	4,974,156	4,954,937
Common stockholders' equity:
Common stock ($.01 par value per share. Authorized 4,500,000 shares. Issued and outstanding: 3,083,577 shares at June 30, 2021 and 3,072,547 at September 30, 2020)	30,836	30,725
Additional paid-in capital	28,271,487	28,144,702
Retained earnings	8,940,414	7,747,197
Accumulated other comprehensive income	1,117	10,891
Total common stockholders' equity	37,243,854	35,933,515
Total liabilities and capitalization	$ 142,476,842	$ 136,459,306

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Current assets:
Allowance for uncollectible accounts	$ 94,412	$ 42,236
Common stockholders' equity
Redeemable preferred stock - Series A, authorized shares	261,500	261,500
Redeemable preferred stock - Series A, shares issued	260,600	260,600
Redeemable preferred stock - Series A, shares outstanding	260,600	260,600
Less debt issuance costs	$ 22,841	$ 30,455
Redeemable preferred stock - Series C, authorized shares	180,000	180,000
Redeemable preferred stock - Series C, shares issued	180,000	180,000
Redeemable preferred stock - Series C, shares outstanding	180,000	180,000
Redeemable less debt issuance costs	$ 1,338	$ 1,524
Redeemable preferred stock - Series B, authorized shares	244,500	244,500
Redeemable preferred stock - Series B, shares issued	244,263	244,263
Redeemable preferred stock - Series B, shares outstanding	244,263	244,263
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	4,500,000	4,500,000
Common stock, shares issued	3,083,577	3,072,547
Common stock, shares outstanding	3,083,577	3,072,547

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Utility operating revenues:
Total utility operating revenues	$ 7,484,940	$ 6,988,752	$ 29,027,377	$ 27,096,128
Costs of sales:
Total cost of sales	1,860,734	1,203,626	7,764,328	6,153,470
Gross margin	5,624,206	5,785,126	21,263,049	20,942,658
Cost and expense:
Operating and maintenance expense	3,970,405	2,913,808	10,820,876	8,709,529
Taxes other than income taxes	951,837	875,621	2,795,807	2,755,284
Depreciation	821,642	648,647	2,549,851	1,948,180
Other deductions, net	61,284	131,895	212,351	391,443
Total costs and expenses	5,805,168	4,569,971	16,378,885	13,804,436
Utility operating income (loss)	(180,962)	1,215,155	4,884,164	7,138,222
Other income and (expense):
Interest expense	(1,077,830)	(625,281)	(2,568,477)	(1,844,268)
Other income (expense), net	965,529	(158,770)	771,094	(488,023)
Investment income	92,282	165,130	361,821	96,404
Income (loss) from joint ventures	5,022	(53,912)	(2,491)	(50,442)
Rental income	7,638	7,638	22,914	22,914
Income (loss) from utility operations, before income taxes	(188,321)	549,960	3,469,025	4,874,807
Income tax benefit (expense)	461,187	7,645	(682,918)	(1,158,045)
Net income	272,866	557,605	2,786,107	3,716,762
Less: Series B Preferred Stock Dividends	61,065	61,065	183,197	183,197
Net income attributable to common stockholders	$ 211,801	$ 496,540	$ 2,602,910	$ 3,533,565
Weighted average earnings per share:
Basic	$ 0.07	$ 0.16	$ 0.84	$ 1.16
Diluted	$ 0.07	$ 0.16	$ 0.83	$ 1.11
Average shares outstanding - basic	3,083,577	3,062,789	3,082,408	3,056,806
Average shares outstanding - diluted	3,083,577	3,062,789	3,377,518	3,349,921
Gas Operating Revenues [Member]
Utility operating revenues:
Total utility operating revenues	$ 5,752,686	$ 5,540,296	$ 23,631,357	$ 22,321,855
Costs of sales:
Total cost of sales	1,382,120	939,406	6,131,547	5,226,582
Electric Service [Member]
Utility operating revenues:
Total utility operating revenues	1,732,254	1,448,456	5,396,020	4,774,273
Costs of sales:
Total cost of sales	$ 478,614	$ 264,220	$ 1,632,781	$ 926,888

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Net income	$ 272,866	$ 557,605	$ 2,786,107	$ 3,716,762
Other comprehensive income:
Net unrealized gain (loss) on debt securities available for sale net of tax of $(114), $1,430, $3,445 and $1,553, respectively	301	3,769	(9,774)	4,478
Total comprehensive income	$ 273,167	$ 561,374	$ 2,776,333	$ 3,721,240

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Net unrealized gain (loss) on securities available for sale, tax	$ (114)	$ 1,430	$ 3,445	$ 1,553

Consolidated Statement of Chang

Consolidated Statement of Changes in Common Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning Balance at Sep. 30, 2019	$ 30,470	$ 27,745,837	$ 6,634,085	$ 7,313	$ 34,417,705
Beginning Balance shares at Sep. 30, 2019	3,047,060
Issuance of common stock	$ 190	286,410			286,600
Issuance of common stock, shares	18,889
Dividends declared on common			(1,375,767)		(1,375,767)
Dividends declared on Preferred B shares			(183,197)		(183,197)
Comprehensive income:
Change in unrealized gain (loss) on debt securities available for sale, net of income taxes				4,478	4,478
Net income			3,716,762		3,716,762
Ending Balance at Jun. 30, 2020	$ 30,660	28,032,247	8,791,883	11,791	36,866,581
Ending Balance, shares at Jun. 30, 2020	3,065,949
Beginning Balance at Mar. 31, 2020	$ 30,591	27,943,126	8,762,553	8,022	36,744,292
Beginning Balance shares at Mar. 31, 2020	3,059,079
Issuance of common stock	$ 69	89,121			89,190
Issuance of common stock, shares	6,870
Dividends declared on common			(467,210)		(467,210)
Dividends declared on Preferred B shares			(61,065)		(61,065)
Comprehensive income:
Change in unrealized gain (loss) on debt securities available for sale, net of income taxes				3,769	3,769
Net income			557,605		557,605
Ending Balance at Jun. 30, 2020	$ 30,660	28,032,247	8,791,883	11,791	36,866,581
Ending Balance, shares at Jun. 30, 2020	3,065,949
Dividends declared on common					(468,235)
Ending Balance at Sep. 30, 2020	$ 30,725	28,144,702	7,747,197	10,891	$ 35,933,515
Ending Balance, shares at Sep. 30, 2020	3,072,547				3,072,547
Stock based compensation	$ 45	34,939			$ 34,984
Stock based compensation, shares	4,500
Issuance of common stock	$ 66	91,846			91,912
Issuance of common stock, shares	6,530
Dividends declared on common			(1,409,693)		(1,409,693)
Dividends declared on Preferred B shares			(183,197)		(183,197)
Comprehensive income:
Change in unrealized gain (loss) on debt securities available for sale, net of income taxes				(9,774)	(9,774)
Net income			2,786,107		2,786,107
Ending Balance at Jun. 30, 2021	$ 30,836	28,271,487	8,940,414	1,117	$ 37,243,854
Ending Balance, shares at Jun. 30, 2021	3,083,577				3,083,577
Beginning Balance at Mar. 31, 2021	$ 30,836	28,271,487	9,198,511	816	$ 37,501,650
Beginning Balance shares at Mar. 31, 2021	3,083,577
Dividends declared on common			(469,898)		(469,898)
Dividends declared on Preferred B shares			(61,065)		(61,065)
Comprehensive income:
Change in unrealized gain (loss) on debt securities available for sale, net of income taxes				301	301
Net income			272,866		272,866
Ending Balance at Jun. 30, 2021	$ 30,836	$ 28,271,487	$ 8,940,414	$ 1,117	$ 37,243,854
Ending Balance, shares at Jun. 30, 2021	3,083,577				3,083,577

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Common Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared on common	$ 0.1525	$ 0.1525	$ 0.4575	$ 0.45
Dividends declared on Preferred B shares	$ 0.25	$ 0.25	$ 0.75	$ 0.75

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 2,786,107	$ 3,716,762
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,549,851	1,948,180
Amortization of debt issuance cost	80,657	80,164
Non-cash pension expenses	706,071	706,071
Regulatory asset amortizations	411,708	481,084
Stock issued for services	75,147	135,589
Gain on sale of marketable securities	(198,392)	(31,801)
Unrealized gain on investments	(138,826)	(73,996)
Gain on forgiveness of debt	(1,173,594)
Deferred income taxes	682,918	1,158,045
Bad debt expense	40,383	83,000
Loss from joint ventures	2,491	50,442
(Increase) decrease in:
Accounts receivable	(442,668)	(179,004)
Gas stored underground	206,090	529,775
Materials and supplies inventories	(325,533)	(484,884)
Prepaid expenses	(343,437)	(622,272)
Unrecovered gas and electric costs	351,343	(390,346)
Deferred regulatory costs	(1,381,714)	(705,225)
Other	24,668	15,550
Increase (decrease) in:
Accounts payable	1,919,489	667,863
Accrued expenses	(64,576)	(34,236)
Customer deposits and accrued interest	(564,540)	(271,751)
Deferred compensation	(58,340)	(44,900)
Deferred pension costs & post-retirement benefits	(692,737)	(475,283)
Other liabilities and deferred credits	1,093,855	(248,037)
Net cash provided by operating activities	5,546,421	6,010,790
Cash flows from investing activities:
Sale of securities, net of purchases	162,440	183,325
Amount paid to related parties	9,032	(1,588)
Capital expenditures	(6,956,837)	(5,940,562)
Net cash used in investing activities	(6,785,365)	(5,758,825)
Cash flows from financing activities:
Net proceeds (repayments) on lines-of-credit and short-term debt	1,049,341	(2,454,233)
Debt issuance costs paid	(6,602)
Cash received from sale of Series C preferred stock		4,498,394
Dividends paid	(1,540,146)	(1,382,237)
Proceeds under long-term debt	5,217,551	3,436,711
Repayment of long-term debt	(3,601,322)	(3,264,791)
Net cash provided by financing activities	1,118,822	833,844
Net (decrease) increase in cash and cash equivalents	(120,122)	1,085,809
Cash and cash equivalents at beginning of period	411,700	314,341
Cash and cash equivalents at end of period	291,578	1,400,150
Cash paid during the period for:
Interest	1,635,383	1,764,103
Income taxes
Non-cash financing activities:
Dividends paid with shares	$ 51,749	$ 151,011
Number of shares issued for dividends	3,380	8,989

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2021
Basis of Presentation [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation Corning Natural Gas Holding Corporation (“Holding Company”) was incorporated in New York in July 2013 to serve as a holding company for Corning Natural Gas Corporation (“Corning Gas” or the “Gas Company”) and its dormant subsidiary Corning Natural Gas Appliance Corporation (the “Appliance Company”), Pike County Light & Power Company (“Pike”), Leatherstocking Gas Company, LLC (“Leatherstocking Gas”), and Leatherstocking Pipeline Company, LLC (“Leatherstocking Pipeline”). The Holding Company also owns 50% of Leatherstocking Gas of New York, Inc. (“Leatherstocking NY”). As used in this document, the term “the Company” refers to the consolidated operations of the Holding Company, Gas Company, Pike and (from July 1, 2020) Leatherstocking Gas and Leatherstocking Pipeline. The Holding Company’s primary business, through its subsidiaries, is natural gas and electric distribution. Corning Gas serves approximately 15,000 residential, commercial, industrial and municipal customers in the Corning, Hammondsport and Virgil, New York, areas and two other gas utilities which serve the Elmira and Bath, New York, areas. It is franchised to supply gas service in all of the political subdivisions in which it operates. The Gas Company is under the jurisdiction of the New York Public Service Commission (“NYPSC”) which oversees and sets rates for New York gas distribution companies. In addition, the Gas Company has contracts with Woodhull Municipal Gas Company, a small local utility, to provide maintenance service on their gas lines. Pike is an electric and gas utility regulated by the Pennsylvania Public Utility Commission (“PAPUC”). Pike provides electric service to approximately 4,800 customers in the Townships of Westfall, Milford and the northern part of Dingman and in the Boroughs of Milford and Matamoras. Pike provides natural gas service to 1,200 customers in Westfall Township and the Borough of Matamoras. All of these communities are located in Pike County, Pennsylvania. Additionally, Leatherstocking Gas is also regulated by the PAPUC and distributes gas in Susquehanna and Bradford Counties, Pennsylvania. Leatherstocking Pipeline, an unregulated company, previously served one customer in Lawton, Pennsylvania and has had no revenues since 2018. Leatherstocking NY has an application pending before the NYPSC for authority to provide gas distribution services in Broome County, New York. The information furnished herewith reflects all adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to SEC rules and regulations, although the Holding Company believes the disclosures which are made are adequate to make the information presented not misleading. On July 1, 2020, the Holding Company purchased the remaining 50% interest in Leatherstocking Gas and Leatherstocking Pipeline (collectively, the “Leatherstocking Companies”), and items of income or loss and the balance sheets of these subsidiaries are now included in the Company’s consolidated financial statements. For the first nine months of fiscal 2020, the Company accounted for its investments in the Leatherstocking Companies using the equity method of accounting. Components of our financial statements reflect these differences. The following unaudited proforma information presents the Company’s results of operations as if the Company owned 100% of the Leatherstocking Companies at the beginning of the fiscal year ended September 30, 2020. The proforma results do not purport to represent what the Company’s results of operations actually would have been if the transaction had occurred at the beginning of the period presented or what the Company’s results of operations will be in future periods. Three months ended Nine months ended June 30, 2020 June 30, 2020 Total Revenue $ 7,215,129 $ 28,226,678 Net Income $ 491,629 $ 3,676,518 14 Table of Contents The consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto included in the Holding Company’s latest annual report on Form 10-K for the fiscal year ended September 30, 2020 (“Annual Report”), filed on December 21, 2020. These interim consolidated financial statements are unaudited. Our significant accounting policies are described in the notes to the Consolidated Financial Statements in the Holding Company’s Annual Report. It is important to understand that the application of generally accepted accounting principles in the United States of America involves certain assumptions, judgments and estimates that affect reported amounts of assets, liabilities, revenues and expenses. Thus, the application of these principles can have varying results from company to company. Because our business is highly seasonal in nature, sales for each quarter of the year vary and are not comparable. Sales vary depending on seasonal variations in temperature, although the Gas Company’s weather normalization and revenue decoupling clauses approved by the NYPSC serve to stabilize net revenue by insulating the Gas Company, to an extent, from the effects of unusual temperature variations and conservation. Certain larger customer classes are not covered by weather normalization or revenue decoupling and weather will impact revenue from these classes. Neither Pike nor Leatherstocking Gas have weather normalization or revenue decoupling clauses. It is the Holding Company’s policy to reclassify amounts in the prior year financial statements to conform to the current year presentation. On January 12, 2021, Holding Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among Holding Company, ACP Crotona Corp. (“Parent”), and ACP Crotona Merger Sub Corp. (“Merger Sub”), pursuant to which Merger Sub will merge with and into Holding Company, and Holding Company will continue as the surviving corporation and a wholly owned subsidiary of Parent (the “Merger”). As a result of the Merger, shareholders of Holding Company will receive consideration for their shares in the following amounts: (i) $24.75 in cash, per share of common stock (the “Merger Consideration”); (ii) $25 per share of Series A preferred stock; (iii) $29.70 per share of Series B preferred stock; and (iv) $25 per share of Series C preferred stock. Amounts payable to all shareholders will include cash for any unpaid dividends. Parent and Merger Sub are affiliates of Argo Infrastructure Partners LP (“Argo”) and were formed by Argo in order to complete the Merger. The Merger is subject to, among other customary closing conditions, the approvals of the NYPSC and the PAPUC. In addition, the Merger requires the approval of the Company’s shareholders and the expiration of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvement Act. The Merger Agreement also includes certain termination rights for both the Company and Parent and provides that, in connection with the termination of the Merger Agreement under specified circumstances, termination fees may be owed by the Company to Parent, depending on the circumstances surrounding a termination. The Merger Agreement provided for a 45-day “Go Shop” period which expired on February 26, 2021. During the “Go Shop” period, the Company received no competing offers or alternative acquisition proposals. The Company is now subject to a customary “No Shop” provision that restricts the Company’s ability to solicit acquisition proposals from third parties and to provide non-public information and to negotiate with third parties regarding unsolicited acquisition proposals that is reasonably expected to lead to a superior proposal. On April 30, 2021, the Company and Argo filed with the NYPSC and PAPUC joint petitions requesting approval to conclude the Merger. Decisions from the commissions on the merger petitions are not expected until late 2021 or the first half of 2022. The Merger was voted on and approved by the Company’s shareholders at its annual shareholder meeting on May 27, 2021. In connection with the execution of the Merger Agreement, the Company has suspended its dividend reinvestment plan. Upon consummation of the Merger, the Company’s common stock will be delisted from the OTCQX and deregistered under the Exchange Act as soon as practicable. 15 Table of Contents New Accounting Pronouncements Not Yet Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326) In August 2020, the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

Revenue From Contracts With Cus

Revenue From Contracts With Customers	9 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue From Contracts With Customers	Note 2 – Revenue From Contracts With Customers The following tables present, for the three and nine months ended June 30, 2021 and 2020, revenue from contracts with customers as defined in Accounting Standards Codification (“ASC 606”) (Revenue From Contracts With Customers), as well as additional revenue from sources other than contracts with customers, disaggregated by major source. For the three months ended June 30, 2021 Revenues from Other Total utility contracts with revenues operating customers (a) revenues Corning Gas: Residential gas $ 3,148,680 $ 182,727 $ 3,331,407 Commercial gas 415,934 - 415,934 Transportation 981,138 40,040 1,021,178 Street lights gas 126 - 126 Wholesale 366,319 - 366,319 Local production 105,206 - 105,206 Total Corning Gas 5,017,403 222,767 5,240,170 Pike: Residential gas 221,319 589 221,908 Commercial gas 75,892 - 75,892 Total Pike retail gas 297,211 589 297,800 Residential electric 846,232 6,776 853,008 Commercial electric 847,893 - 847,893 Electric – street lights 31,353 - 31,353 Total Pike retail electric 1,725,478 6,776 1,732,254 Total Pike 2,022,689 7,365 2,030,054 Leatherstocking Gas Residential gas 70,479 - 70,479 Commercial gas 59,198 - 59,198 Industrial sales 85,039 - 85,039 Total Leatherstocking Companies 214,716 - 214,716 Total consolidated utility operating revenue $ 7,254,808 $ 230,132 $ 7,484,940 (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9. 16 Table of Contents For the nine months ended June 30, 2021 Revenues from Other Total utility contracts with revenues operating customers (a) revenues Corning Gas: Residential gas $ 12,957,652 $ 473,321 $ 13,430,973 Commercial gas 1,704,525 - 1,704,525 Transportation 3,649,932 (68,420 ) 3,581,512 Street lights gas 317 - 317 Wholesale 1,603,141 - 1,603,141 Local production 459,692 - 459,692 Total Corning Gas 20,375,259 404,901 20,780,160 Pike: Residential gas 1,330,250 (2,281 ) 1,327,969 Commercial gas 371,535 - 371,535 Total Pike retail gas 1,701,785 (2,281 ) 1,699,504 Residential electric 2,768,810 60,259 2,829,069 Commercial electric 2,472,137 - 2,472,137 Electric – street lights 94,814 - 94,814 Total Pike retail electric 5,335,761 60,259 5,396,020 Total Pike 7,037,546 57,978 7,095,524 Leatherstocking Gas Residential gas 384,813 - 384,813 Commercial gas 343,868 - 343,868 Industrial sales 423,012 - 423,012 Total Leatherstocking Companies 1,151,693 - 1,151,693 Total consolidated utility operating revenue $ 28,564,498 $ 462,879 $ 29,027,377 (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. Other revenues also includes reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9. 17 Table of Contents For the three months ended June 30, 2020 Revenues from Other Total utility contracts with revenues operating customers (a) revenues Corning Gas: Residential gas $ 3,533,175 $ (189,420 ) $ 3,343,755 Commercial gas 369,957 - 369,957 Transportation 937,403 102,086 1,039,489 Street lights gas 94 - 94 Wholesale 339,688 - 339,688 Local production 170,495 - 170,495 Total Corning Gas $ 5,350,812 $ (87,334 ) $ 5,263,478 Pike: Residential gas $ 219,939 $ (351 ) $ 219,588 Commercial gas 57,230 - 57,230 Total Pike retail gas 277,169 (351 ) 276,818 Residential electric 746,204 (8,335 ) 737,869 Commercial electric 680,267 - 680,267 Electric – street lights 30,320 - 30,320 Total Pike retail electric 1,456,791 (8,335 ) 1,448,456 Total Pike $ 1,733,960 $ (8,686 ) $ 1,725,274 Total consolidated utility operating revenue $ 7,084,772 $ (96,020 ) $ 6,988,752 (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms and weather normalization provisions under a New York gas rate plan. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9. For the nine months ended June 30, 2020 Revenues from Other Total utility contracts with revenues operating customers (a) revenues Corning Gas: Residential gas $ 13,280,227 $ (5,502 ) $ 13,274,725 Commercial gas 1,922,877 - 1,922,877 Transportation 3,679,551 92,661 3,772,212 Street lights gas 301 - 301 Wholesale 1,506,837 - 1,506,837 Local production 533,743 - 533,743 Total Corning Gas $ 20,923,536 $ 87,159 $ 21,010,695 Pike: Residential gas $ 1,047,829 $ 1,290 $ 1,049,119 Commercial gas 262,041 - 262,041 Total Pike retail gas 1,309,870 1,290 1,311,160 Residential electric 2,364,886 88,940 2,453,826 Commercial electric 2,228,534 - 2,228,534 Electric – street lights 91,913 - 91,913 Total Pike retail electric 4,685,333 88,940 4,774,273 Total Pike $ 5,995,203 $ 90,230 $ 6,085,433 Total consolidated utility operating revenue $ 26,918,739 $ 177,389 $ 27,096,128 (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9. 18 Table of Contents The Gas Company records revenues from residential and commercial customers based on meters read on a cyclical basis throughout each month, while certain large industrial and utility customers’ meters are read at the end of each month. Several meters are read at the end of each month to calculate local production revenues. The Gas Company does not accrue revenue for gas delivered but not yet billed, as the NYPSC requires that such accounting must be adopted during a rate proceeding, which the Gas Company has not done. The Gas Company, as part of its currently effective rate plan, has a weather normalization clause as protection against severe weather fluctuations. This affects residential and small commercial space heating customers and is activated when degree days are 2.2% greater or less than the 30-year average. As a result, the effect on revenue fluctuations of weather related gas sales is somewhat moderated. Pike recognizes revenues for electric and gas service on a monthly billing cycle basis. Pike does not accrue for gas and electricity delivered. Pike does not have a weather normalization clause as protection against severe weather. Leatherstocking Gas recognizes revenues for gas service on a monthly billing cycle basis. Leatherstocking Gas does not record unbilled revenues. Leatherstocking Gas does not have a weather normalization clause as protection against severe weather. In addition to weather normalization, the Gas Company has implemented a revenue decoupling mechanism (RDM). The RDM reconciles actual delivery service revenues to allowed delivery service revenues (which are based on the annual customer and volume forecasts in the last rate case) for residential customers. The Gas Company will refund or surcharge customers for differences between actual and allowed revenues. The shortfall or excess after the annual reconciliation will be surcharged or refunded to customers over a twelve-month period starting September 1st each year. Pike and Leatherstocking Gas do not have a revenue decoupling mechanism as part of their rate structures. Revenues are recorded as energy is delivered, generated, or services are provided and billed to customers. Amounts billed are recorded in customer accounts receivable, with payment generally due the following month.

Pension and Other Post-retireme

Pension and Other Post-retirement Benefit Plans	9 Months Ended
	Jun. 30, 2021
Pension and Other Post-retirement Benefit Plans [Abstract]
Pension and Other Post-retirement Benefit Plans	Note 3 – Pension and Other Post-Retirement Benefit Plans Components of Net Periodic Benefit Cost: Pension Benefits Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Service Cost $ 198,623 $ 186,111 $ 595,868 $ 558,333 Interest Cost 240,959 246,324 722,876 738,972 Expected return on plan assets (361,414 ) (325,249 ) (1,084,243 ) (975,748 ) Amortization of net actuarial gain 244,156 224,321 732,469 672,965 Net periodic benefit cost $ 322,324 $ 331,507 $ 966,970 $ 994,522 Other Benefits Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Service Cost $ 4,739 $ 4,633 $ 14,218 $ 13,900 Interest Cost 6,972 9,255 20,918 27,766 Amortization of prior service cost 3,810 3,494 11,429 10,484 Amortization of net actuarial gain 421 654 1,262 1,963 Net periodic benefit cost $ 15,942 $ 18,036 $ 47,827 $ 54,113 19 Table of Contents For ratemaking and financial statement purposes, pension expense represents the amount approved by the NYPSC in the Gas Company’s most recently approved rate case. Pension expense for ratemaking and financial statement purposes was $165,071 for the three months ended June 30, 2021 and $218,683 for the three months ended June 30, 2020. Pension expense for ratemaking and financial statement purposes was $507,496 for the nine months ended June 30, 2021 and $656,049 for the nine months ended June 30, 2020. Total pension costs are recorded in accordance with accounting prescribed by the NYPSC in 1993. The cumulative net difference between the pension expense for ratemaking and financial statement purposes, since 1993, has been deferred as a regulatory asset and amounted to $1,540,956 and $1,225,004 at June 30, 2021 and 2020, respectively. The NYPSC has allowed the Gas Company to recover incremental costs associated with other post-retirement benefits through rates on a current basis. Other post-retirement benefit expense for ratemaking and financial statement purposes was $13,154 for the three months ended June 30, 2021 and $14,680 for the three months ended June 30, 2020. Other post-retirement benefit expense for ratemaking and financial statement purposes was $39,346 for the nine months ended June 30, 2021 and $44,040 for the nine months ended June 30, 2020. The difference between the other post-retirement benefit expense for ratemaking and financial statement purposes, and the amount computed above has been deferred as a regulatory liability and amounted to $9,907 and $358,670 at June 30, 2021 and 2020, respectively. The Gas Company will apply the provisions of the recently enacted American Rescue Plan Act of 2021 (“ARPA”) for purposes of funding its pension plan. ARPA allows a plan sponsor to apply more favorable interest rate assumptions for purposes of determining its required cash contributions, and it allows plan sponsors to fund a shortfall over 15 years, rather than over 7 years under prior law. Additionally, ARPA permits a plan sponsor to elect to redetermine its required contribution for 2020 under the provisions of ARPA, as if the law had been in effect for all of 2020. The Company has elected to apply ARPA to its 2020 plan year, resulting is a deemed credit in the amount of $450,000, that, when applied to its 2021 contribution requirement, reduces the required 2021 cash contribution to $260,000. The Gas Company expects to contribute $692,554 to its Pension Plan during the year ending September 30, 2021. A total of $511,266 was paid to the Pension Plan during the nine months ending June 30, 2021 and $0 during the three months ended June 30, 2021. A total of $663,750 was paid to the Pension Plan during the nine months ended June 30, 2020 and $288,652 during the three months ended June 30, 2020.

Financing Activities

Financing Activities	9 Months Ended
	Jun. 30, 2021
Financing Activities [Abstract]
Financing Activities	Note 4 – Financing Activities On August 31, 2020, Corning Gas entered into a $3.718 million multiple disbursement term note with M&T Bank which permitted draws from time to time to pay down $250,000 of existing M&T Bank debt and for capital expenditures in accordance with its terms until October 31, 2020 at which time amounts outstanding under the note totaling $3.718 million converted to a ten year term loan, payable in 119 equal monthly installments with an additional final installment of unpaid principal and interest due on November 30, 2030. Before converting to a term loan, borrowings on the note had a variable interest rate of 3.0% plus the greater of one-month LIBOR or 0.5%. After October 31, 2020, the interest rate was fixed at 3.5%. This term note is subject to the terms of the August 2020 Credit Agreement with M&T Bank. On October 13, 2020, Pike’s multiple disbursement term note with M&T Bank, dated June 24, 2020, was converted into a ten year term loan, payable in 119 monthly installments with an additional final installment of unpaid principal and interest due on November 30, 2030. The note is in the amount of $1.315 million and the interest rate was fixed at 3.5%. This term note is subject to the terms of a credit agreement and general security agreement with M&T Bank and is guaranteed by the Holding Company. On January 14, 2021, Corning Gas borrowed $850,000 from M&T Bank for a three-month period ending on April 15, 2021. The loan was used primarily to pay for transaction costs incurred in connection with our planned merger with Argo (see Note 1), and to pay pension and other operating expenses. The note bears an interest rate of 2.6% plus the one-month LIBOR rate with a floor of 3.1%. This note was repaid in full from the proceeds of the Company’s construction loan with M&T Bank that was signed on June 25, 2021. 20 Table of Contents The Company, in the second quarter of fiscal 2021, applied for, and received forgiveness of its Leatherstocking Payroll Protection Program (“PPP”) loan of $65,491. On April 15, 2021, the Company received forgiveness of its Pike PPP loan of $137,200. On May 21, 2021, Corning Gas Company’s PPP loan in the amount of $970,900 was forgiven by the U.S. Small Business Administration. The forgiven PPP loans constitute non-cash financing activities. On March 18, 2021, the NYPSC issued an order requesting information designed to determine the proper disposition of the PPP loan proceeds. This order was issued prior to the date that the PPP loan was forgiven. On May 13, 2021, the Company responded to the order by supporting its position that it was not obligated to refund the forgiven amount because during the pandemic, the Company also lost commercial revenues caused by the pandemic, incurred COVID related operating costs, and experienced increased customer uncollectible accounts. The NYPSC has not responded to the Company’s submission. In the third quarter of fiscal 2021, the Company recorded debt forgiveness income in the amount of $970,900 in its consolidated statements of income. Also in the third quarter of fiscal 2021, the Company recorded a regulatory liability of approximately $490,000, which is the difference between the forgiven amount and the Company’s estimate of lost revenues, COVID related operating costs and increased customer uncollectible accounts. Income from PPP loan forgiveness for all three loans is included in Other income (expense) in the consolidated statements of income. In March of 2021, the Company applied for a $1 million loan from the U.S. Department of Agriculture under the Rural Energy Services Program (RESP). The RESP program is designed to provide low cost loans to rural customers who will use borrowed funds to purchase energy efficient gas furnaces, hot water heaters, and gas services. The loan, if approved by the Department of Agriculture, would be interest free to the Company, and must be repaid over a period not to exceed 20 years. Customers who borrow funds from Corning Gas would pay a nominal rate of interest to the Company, which funds will be used to administer the program. Customer loans must be repaid over a period not to exceed 10 years. The Company’s loan application is pending approval with the U.S. Department of Agriculture. On June 25, 2021, Corning Gas entered into a $4.665 million multiple disbursement term note with M&T Bank to retire $850,000 of existing short term debt and which permits draws from time to time for capital expenditures in accordance with its terms until October 31, 2021 at which time amounts outstanding under the note will convert to a ten year term loan, with the final installment of unpaid principal and interest due on October 31, 2031. Before converting to a term loan, borrowings on the note have a variable interest rate of 2.9% plus one-month LIBOR with a floor of 3.4%. At the loan conversion date, the Company will have the option to elect a fixed or floating interest rate. This term note is subject to the terms of the August 2020 Credit Agreement with M&T Bank. The balance owed on this loan at June 30, 2021 was $2,412,978. On June 25, 2021, Corning Gas obtained a $1.9 million bridge loan (the “Bridge Loan”) from M&T Bank. Corning Gas will use the Bridge Loan for short-term general operating purposes. To evidence the Bridge Loan, Corning Gas issued a LIBOR demand note to M&T Bank in the principal amount of $1.9 million (the “Bridge Note”). The Bridge Note bears interest at a variable rate equal to 3.0% plus the one-month LIBOR rate, with a floor of 3.5%. Interest on the Bridge Note is payable monthly. The balance owed on this loan at June 30, 2021 was $1.9 million. The Company is currently negotiating a multiple disbursement term loan with M&T Bank for Pike construction projects. The loan is expected to be in the amount of $2.2 million, and its terms will mirror the Corning Gas loan of June 25, 2021, described above. This loan, however, will be guaranteed by the Holding Company. The Company expects to conclude this loan during the third week of August 2021. We are in compliance with our financial covenant calculations as of June 30, 2021.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Jun. 30, 2021
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Note 5 – Fair Value of Financial Instruments The Holding Company has determined the fair value of debt and other financial instruments using a valuation hierarchy. The hierarchy, which prioritizes the inputs used in measuring fair value, consists of three levels. Level 1 uses observable inputs such as quoted prices in active markets; Level 2 uses inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, which is defined as unobservable inputs in which little or no market data exists, requires the Holding Company to develop its own assumptions. The carrying amount of debt on the Consolidated Balance Sheets approximates fair value as a result of instruments bearing interest rates that approximate current market rates for similar instruments, and the carrying amounts for cash, accounts receivable and accounts payable approximate fair value due to their short-term nature. Investment assets, which fund the Holding Company’s deferred compensation plan, are valued based on Level 1 inputs. 21 Table of Contents The Holding Company has determined the fair value of certain assets through application of FASB ASC 820 “Fair Value Measurements and Disclosures”. Fair value of assets and liabilities measured on a recurring basis at June 30, 2021 and September 30, 2020 are as follows: Fair Value Measurements at Reporting Date Using: Fair Value Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1) Level 2 Level 3 June 30, 2021 Available-for-sale securities $ 2,358,116 $ 2,358,116 $ - $ - September 30, 2020 Available-for-sale securities $ 2,193,112 $ 2,193,112 $ - $ - A summary of the marketable securities at June 30, 2021 and September 30, 2020 is as follows: Cost Basis Unrealized Gain Unrealized Loss Market Value June 30, 2021 Cash and equivalents $ 125,806 $ - $ - $ 125,806 Metlife stock value 53,855 - - 53,855 Government and agency bonds 15,075 1,402 - 16,477 Holding Company Preferred A Stock 197,875 418,309 - 616,184 Equity/Debt securities 1,110,129 402,704 - 1,512,833 Commodities 33,420 - 459 32,961 Total securities $ 1,536,160 $ 822,415 $ 459 $ 2,358,116 September 30, 2020 Cash and equivalents $ 120,559 $ - $ - $ 120,559 Metlife stock value 30,701 - - 30,701 Government and agency bonds 143,960 9,312 - 153,272 Corporate bonds 143,196 3,951 - 147,147 Mutual funds 42,664 2,414 - 45,078 Holding Company Preferred A Stock 572,875 45,830 - 618,705 Equity securities 788,793 265,654 - 1,054,447 Commodities 21,881 1,322 - 23,203 Total securities $ 1,864,629 $ 328,483 $ - $ 2,193,112 Realized gains included in earnings for the periods reported in investment income are as follows: Investment Income Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Net realized gains and (losses) recognized during the period on investments $ 23,170 $ 13,208 $ 198,392 $ (9,344 ) Unrealized (losses)/gains on equity securities included in investment income for the three and nine months ended June 30, 2021 were ($58,660) and $138,826, respectively. Unrealized gains on equity securities included in investment income for the three and nine months ended June 30, 2020 were $160,051 and $73,996, respectively. 22 Table of Contents Financial assets and liabilities valued using level 1 inputs are based on unadjusted quoted market prices as of the close of business on the days noted within active markets.

Stockholders' Equity and Prefer

Stockholders' Equity and Preferred Stock	9 Months Ended
	Jun. 30, 2021
Shareholders' Equity Note [Abstract]
Stockholders' Equity and Preferred Stock	Note 6 – Stockholders’ Equity and Preferred Stock Shares issued during the three and nine months ended June 30, 2021 and 2020 were for the following: Three months ended June 30, 2021 Nine months ended June 30, 2021 Shares Amount Shares Amount Dividend reinvestment program (DRIP) - - 3,380 $ 51,749 Directors - - 3,150 40,163 Officers - - 4,500 34,984 Total - - 11,030 $ 126,896 Three months ended June 30, 2020 Nine months ended June 30, 2020 Shares Amount Shares Amount Dividend reinvestment program (DRIP) 3,570 $ 50,244 8,989 $ 151,011 Directors 3,150 36,619 9,450 127,469 Leatherstocking Gas Company 150 2,327 450 8,120 Total 6,870 $ 89,190 18,889 $ 286,600 Shares issued to Leatherstocking Gas were used to compensate its independent director, Carl Hayden. For the three months ended September 30, 2020, dividends were paid on October 15, 2020 to stockholders of record on September 30, 2020 in the amount of $468,235, less DRIP shares valued at $51,749. As of June 30, 2021, $469,898 was accrued for dividends paid on July 15, 2021 to stockholders of record on June 30, 2021. Stock options outstanding as of June 30, 2021 were issued in August 2020. There was no stock option activity during the three or nine months ended June 30, 2021 and there were no outstanding stock options or stock option activity during the three or nine months ended June 30, 2020. Weighted Weighted Average Number of Average Remaining Life Options Exercise Price (years) Outstanding at September 30, 2020 10,000 $ 16.50 9.92 Granted - - - Exercised - - - Expired or Forfeited - - - Outstanding at June 30, 2021 10,000 $ 16.50 9.16 Series A Cumulative Preferred Stock accrues cumulative dividends at a rate of 6.0% of the liquidation preference per share ($25.00) and are expected to be paid on or about the 14th day of April, July, October and January of each year. The dividends for the three months ended June 30, 2021 and 2020 were $97,725 and $78,975, respectively. The dividends for the nine months ended June 30, 2021 and 2020 were $293,175 and $236,925, respectively. These dividends are recorded as interest expense. The amortization of the Series A Preferred Stock debt issuance costs for the nine months ended June 30, 2021 and 2020 was $7,614 and $15,548, respectively. The amortization of the Series A Preferred Stock debt issuance costs for the three months ended June 30, 2021 and 2020 was $2,538 and $5,183, respectively. 23 Table of Contents Series B Convertible Preferred Stock accrues cumulative dividends at a rate of 4.8% of the liquidation preference per share ($20.75) and are expected to be paid on or about the 14th day of April, July, October and January of each year and began October 14, 2016. At September 30, 2020 there was $61,066 accrued for Series B dividends paid on October 15, 2020. As of June 30, 2021, $61,065 was accrued for dividends paid on July 15, 2021. Series C Cumulative Preferred Stock accrues cumulative dividends at a rate of 6.0% of the liquidation preference per share ($25.00) and are expected to be paid on or about the 14th day of April, July, October and January of each year. The dividends for the three months ended June 30, 2021 and 2020 were $67,500 and $74,250 respectively. The dividends for the nine months ended June 30, 2021 and 2020 were $202,500 and $74,250, respectively. These dividends are recorded as interest expense. The amortization of the Series C Preferred Stock debt issuance costs for the nine months ended June 30, 2021 and 2020 was $186 and $-, respectively. The amortization of the Series C Preferred Stock debt issuance costs for the three months ended June 30, 2021 and 2020 was $62 and $0, respectively. Basic earnings (loss) per share are computed by dividing income (loss) available for common stock (net income less dividends declared on Series B Preferred Stock) by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. 293,116 shares of common stock issuable upon conversion of Series B Convertible Preferred Stock were excluded from the calculation of diluted earnings per share for the three months ended June 30, 2021 and 2020 because their inclusion would have been anti-dilutive.

Investment in Joint Ventures

Investment in Joint Ventures	9 Months Ended
	Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investment in Joint Ventures	Note 7 – Investment in Joint Ventures The Holding Company had an interest in Leatherstocking Gas and Leatherstocking Pipeline, each of which was a joint venture with Mirabito Regulated Industries, LLC (“Mirabito”), accounted for by the equity method. On July 1, 2020, Leatherstocking Gas distributed to its members franchises, engineering and gas pipeline assets located in New York having a book value of $532,000. These assets were then contributed to the equity of Leatherstocking Gas Company of New York, Inc. The Company owns 50% of the common shares of the newly formed Leatherstocking NY and accounts for this investment using the equity method of accounting. Mirabito has the option to acquire the Company’s interests in Leatherstocking NY, for a purchase price of $100,000, beginning on the earlier of a change in control of the Company, or July 1, 2021, and ending on June 30, 2023. If this option remains unexercised on June 30, 2023, the Company has the option for sixty days to acquire Mirabito’s shares for a purchase price of $100,000. This option has not been exercised. The following table represents the Holding Company’s investment activity in the Leatherstocking joint ventures for the nine months ended June 30, 2021 and 2020: 2021 2020 Beginning balance in investment in joint ventures $ 264,640 $ 2,597,919 Cost adjustment (808 ) - Loss from joint ventures (2,491 ) (50,442 ) Ending balance in joint ventures $ 261,341 $ 2,547,477 As of and for the nine months ended June 30, 2021 and 2020, the Joint Ventures financial summary is as follows: 2021 2020 Total assets $ 528,000 $ 12,066,000 Total liabilities $ 5,000 $ 6,971,000 Net (loss) income $ (5,000 ) $ 101,000

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 – Income Taxes Income tax (benefit) expense for the periods ended June 30 are as follows: Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Current $ - $ - $ - $ - Deferred (461,187 ) (7,645 ) 682,918 1,158,045 Total $ ( 461,187 ) $ (7,645 ) $ 682,918 $ 1,158,045 Actual income tax expense for the three and nine months ended June 30, 2021 and 2020 is significantly lower than tax calculated at the statutory rate (21%) due to tax free PPP loan forgiveness income at Corning Natural Gas, Pike, and at Leatherstocking (nine months ended June 30, 2021 only) offset by state income taxes and non-tax deductible dividends on Class A and Class C preferred stock that are recorded as interest expense and included in pre-tax income. In July of 2021, the Company filed its federal and state income tax returns for fiscal 2020. The Company expects to receive a Pennsylvania state tax refund of prior year estimated tax payments of approximately $99,000. The refund has no impact on earnings.

Regulatory Matters

Regulatory Matters	9 Months Ended
	Jun. 30, 2021
Regulated Operations [Abstract]
Regulatory Matters	Note 9 – Regulatory Matters On February 27, 2020, Corning Gas filed with the NYPSC for increases in revenues of $6,255,926, $845,142, and $680,913 for the years ending January 31, 2022, 2023, and 2024, respectively (Case 20-G-0101). These standalone rate year increases would impact customer bills by 23.4%, 2.56%, and 2.01%, respectively. The base period (test year) for this filing is the 12-month period ended September 30, 2019. The levelized amount would be $3,523,167 in each of the years ending January 31, 2022, 2023 and 2024. The levelized increases would impact customer bills by 10.93% per year. We have requested a levelized approach. The filing with the NYPSC reflects a return on equity of 10.2% and pro-forma equity ratios of 50.67%, 52.95% and 55.26% for the 12-month periods ending January 31, 2022, 2023, and 2024, respectively. The primary reasons for the rate increase are NYPSC mandated initiatives, including replacement of distribution pipe, and new safety, training, and cyber security requirements; and shorter depreciation lives for gas pipeline infrastructure to reflect recent state decarbonization legislation. These two items comprise approximately 50% of the rate case increase request. The balance of the request is to recover increases in health insurance, wages and other inflationary costs. On June 26, 2020, the New York Department of Public Service Staff (“Staff”) filed its direct testimony in Case 20-G-0101. Staff recommended a one year revenue requirement of $517,063, compared to the Gas Company’s request of $6,223,603. The primary differences between Staff and the Gas Company’s revenue requirements is Staff’s equity return recommendation of 8.45% vs. 10.20%, disallowance of the Gas Company’s request for shorter depreciation lives, difference in health insurance cost escalators, extension of the recovery period of regulatory costs from three years to five years, and disallowance of leak repair amortization. The Gas Company disagrees with Staff’s proposals. In November of 2020, the parties requested that the Administrative Law Judges grant a four-month extension of time until May 31, 2021 to rule on the filing, with new rates being retroactively enacted as of February 1, 2021. The NYPSC approved the extension of the suspend period on January 22, 2021. In March of 2021, the parties to this case could not reach a settlement and the case proceeded to a hearing before two administrative law judges. 25 Table of Contents On May 19, 2021, the NYPSC issued a rate order in this case establishing rates and a rate plan for the Gas Company for a one-year period ending January 31, 2022 (“Rate Year”). The rate order disallowed the Company’s request for an increase in required revenue, and instead ordered a reduction of $766,000 from current rates. In the current rate order, the existing $1.3 million tax sur-credit (an adjustment to rates to refund to customers an amount owing them due to income tax rate reductions in the 2017 Tax Cuts and Jobs Act) expired, along with a $30,000 reduction to the annual Delivery Rate Adjustment. The net impact on the Gas Company’s customers was an increase of $505,000 for the Rate Year, retroactive to February 1, 2021. The NYPSC’s order also denied the Gas Company’s Deferral Petition that sought recovery of costs for a leak survey and a large number of repairs incurred as a safety measure in response to certain extraordinary winter conditions in 2015 of the type that cause damage to gas distribution systems. The Gas Company in the third quarter of 2021 recorded a reserve in the amount of $170,000 against its regulatory asset of approximately $340,000 for these costs. The Gas Company believes that these costs, net of the reserve, will be recoverable in rates as a result of it appeal of the NYPSC’s decision in its 2020 rate case. The NYPSC also refused to permit an increase in depreciation expense to account for the need to shorten its natural gas facilities service lives to reflect the Climate Leadership and Community Protection Act(“CLCPA”) mandates that will virtually eliminate fossil fuel use and the need for natural gas facilities in New York State by the year 2050. The Gas Company is appealing the NYPSC’s decisions in this case and has filed a new rate case. (See Note 11 - “Subsequent Events”). In March of 2021, the NYPSC issued a “Show Cause” order instructing Corning Gas to show cause why its PPP loan in the amount of $970,900 should not be refunded to its customers if and when the loan is forgiven. The Company requested, and the NYPSC granted, an extension of time until May 19, 2021 to file its response to the “Show Cause” order. On May 13, 2021, the Gas Company responded to the “Show Cause” order supporting its position that it will use PPP loan proceeds to fund COVID operating costs, lost commercial revenues, and customer bad debt increases (See Note 4 – Financing Activities). On May 21, 2021, the Corning Gas PPP loan was forgiven. By petition dated September 3, 2020 in Case 20-G-0442, Corning Gas requested authority under Public Service Law Sec. 69 to issue approximately $29.5 million of long term debt through December 31, 2024. The proceeds are to be used principally to fund NYPSC mandated system safety and reliability measures, including replacement of older pipe and regulator stations; and purchase equipment, computer software and other supplies as necessary to maintain the distribution system. The NYPSC issued a financing order in April of 2021, permitting the Company to issue long term debt in the amount of $19.1 million. The Gas Company has agreed to this financing order. Total Regulatory Assets on the accompanying Consolidated Balance Sheets as June 30, 2021 amounts to $14,951,279 compared to $14,213,457 at September 30, 2020. The Regulatory Assets include $977,630 at June 30, 2021 and $1,435,762 at September 30, 2020 that is subject to Deferred Accounting Petitions with the NYPSC and PAPUC. The remaining items in regulatory assets are either approved in rates, part of annual reconciliations approved by the NYSPSC and PAPUC, being challenged in court or approved through various commission directives. On April 30, 2021, the Company and Argo filed with the NYPSC a Verified Joint Petition seeking NYPSC approval, pursuant to Section 70 of the New York Public Service Law for its merger. There is no statutory timeline for the NYPSC to make its decision concerning the petition. Also on April 30, 2021, the Company and Argo filed with the PAPUC a Joint Application requesting certificates of public convenience from the PAPUC, and seeking all other PAPUC approvals necessary for the merger. There is no statutory deadline for the PAPUC to decide this type of application which seeks the issuance of a certificate of public convenience. On October 24, 2020, Pike filed separate rate cases with the PAPUC for an increase in revenues for its electric services in the amount of $1,933,600 (Case R-2020-302235) and for an increase in revenues for its gas services in the amount of $262,200 (Case R-2020-3022134). Pike’s current rates have been in effect since 2014. In March of 2021, the parties to the rate cases agreed to settlements in both the electric case and the gas case, resulting in a rate increase of $1.4 million for electric, and $225,000 for gas. On June 25, 2021, the PAPUC issued a rate order approving the gas rate increase of $225,000, and on July 15, 2021, the PAPUC issued a rate order approving the electric rate increase in the amount of $1.4 million. Both rate increases took effect on July 28, 2021.

Segment Reporting

Segment Reporting	9 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Reporting	Note 10 – Segment Reporting The Company’s reportable segments have been determined based upon the nature of the products and services offered, customer base, availability of discrete internal financial information, homogeneity of products, delivery channel and other factors. 26 Table of Contents The Gas Company is a gas distribution company providing gas on a commodity and transportation basis to its customers in the Southern Tier of New York State. Pike provides electricity and natural gas services to Pike County, Pennsylvania. Leatherstocking Gas and Leatherstocking Pipeline are presented together as the Leatherstocking Companies in the table below. Leatherstocking Gas provided natural gas service to customers in northeast Pennsylvania. Leatherstocking Pipeline has had no revenues since 2018. The Holding Company is the parent company of all subsidiaries and has a 50% ownership in Leatherstocking NY. The Appliance Company’s information is presented with the Holding Company as it has little activity. The following table reflects the results of the segments consistent with the Holding Company’s internal financial reporting process. The following results are used in part, by management, both in evaluating the performance of, and in allocating resources to, each of the segments. As of and for the three months ended June 30, 2021 Leatherstocking Holding Total Gas Company Pike Companies* Company Consolidated Total electric utility revenue $ - $ 1,732,254 $ - $ - $ 1,732,254 Total gas utility revenue $ 5,240,170 $ 297,800 $ 214,716 $ - $ 5,752,686 Investment income $ 92,272 $ - $ - $ 10 $ 92,282 Income (loss) on joint ventures $ - $ - $ - $ 5,022 $ 5,022 Net income (loss) $ 523,241 $ 79,953 $ (132,069 ) $ (198,259 ) $ 272,866 Income tax expense (benefit) $ (273,686 ) $ (28,188 ) $ (56,868 ) $ (102,445 ) $ (461,187 ) Interest expense $ 656,976 $ 159,652 $ 83,971 $ 177,231 $ 1,077,830 Depreciation expense $ 486,430 $ 242,506 $ 91,791 $ 915 $ 821,642 Amortization expense $ 53,164 $ 76,923 $ 3,042 $ 12,006 $ 145,135 Total assets $ 97,913,031 $ 31,126,740 $ 12,699,615 $ 737,456 $ 142,476,842 Capital expenditures $ 1,522,861 $ 721,828 $ 316,642 $ - $ 2,561,331 *Acquired July 1, 2020 As of and for the three months ended June 30, 2020 Leatherstocking Holding Total Gas Company Pike Companies* Company Consolidated Total electric utility revenue $ - $ 1,448,456 $ - $ - $ 1,448,456 Total gas utility revenue $ 5,263,478 $ 276,818 $ - $ - $ 5,540,296 Investment income (expense) $ 173,752 $ - $ - $ (8,622 ) $ 165,130 Loss from joint ventures $ - $ - $ - $ (53,912 ) $ (53,912 ) Net income (loss) $ 542,944 $ (50,740 ) $ - $ 65,401 $ 557,605 Income tax expense (benefit) $ 293,408 $ (13,023 ) $ - $ (288,030 ) $ (7,645 ) Interest expense $ 326,616 $ 162,552 $ - $ 136,113 $ 625,281 Depreciation expense $ 466,658 $ 181,074 $ - $ 915 $ 648,647 Amortization expense $ 68,190 $ 97,431 $ - $ 11,965 $ 177,586 Total assets $ 92,719,009 $ 28,938,796 $ - $ 3,339,499 $ 124,997,304 Capital expenditures $ 1,231,859 $ 551,212 $ - $ - $ 1,783,071 *Acquired July 1, 2020 27 Table of Contents As of and for the nine months ended June 30, 2021 Leatherstocking Holding Total Gas Company Pike Companies* Company Consolidated Total electric utility revenue $ - $ 5,396,020 $ - $ - $ 5,396,020 Total gas utility revenue $ 20,780,160 $ 1,699,504 $ 1,151,693 $ - $ 23,631,357 Investment income $ 361,767 $ - $ - $ 54 $ 361,821 Loss from joint ventures $ - $ - $ - $ (2,491 ) $ (2,491 ) Net income (loss) $ 3,607,108 $ 176,704 $ (84,056 ) $ (913,649 ) $ 2,786,107 Income tax expense (benefit) $ 927,446 $ 24,649 $ (69,521 ) $ (199,656 ) $ 682,918 Interest expense $ 1,324,312 $ 472,847 $ 239,625 $ 531,693 $ 2,568,477 Depreciation expense $ 1,476,765 $ 713,789 $ 356,552 $ 2,745 $ 2,549,851 Amortization expense $ 184,595 $ 262,627 $ 9,126 $ 36,018 $ 492,366 Total assets $ 97,913,031 $ 31,126,740 $ 12,699,615 $ 737,456 $ 142,476,842 Capital expenditures $ 4,031,438 $ 2,246,512 $ 678,887 $ - $ 6,956,837 *Acquired July 1, 2020 As of and for the nine months ended June 30, 2020 Leatherstocking Holding Total Gas Company Pike Companies* Company Consolidated Total electric utility revenue $ - $ 4,774,273 $ - $ - $ 4,774,273 Total gas utility revenue $ 21,010,695 $ 1,311,160 $ - $ - $ 22,321,855 Investment income $ 96,290 $ - $ - $ 114 $ 96,404 Income from joint ventures $ - $ - $ - $ (50,442 ) $ (50,442 ) Net income (loss) $ 3,725,463 $ 65,949 $ - $ (74,650 ) $ 3,716,762 Income tax expense (benefit) $ 1,387,459 $ 49,220 $ - $ (278,634 ) $ 1,158,045 Interest expense $ 1,018,235 $ 508,082 $ - $ 317,951 $ 1,844,268 Depreciation expense $ 1,402,213 $ 543,222 $ - $ 2,745 $ 1,948,180 Amortization expense $ 221,629 $ 303,767 $ - $ 35,853 $ 561,249 Total assets $ 92,719,009 $ 28,938,796 $ - $ 3,339,499 $ 124,997,304 Capital expenditures $ 4,329,908 $ 1,610,654 $ - $ - $ 5,940,562 *Acquired July 1, 2020

Subsequent Events

Subsequent Events	9 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 11 – Subsequent Events Article 78 The Gas Company, on July 15, 2021, filed a petition with the State of New York Supreme Court in Albany County pursuant to Article 78 of the Civil Practice Law and Rules to review and set aside the NYPSC’s May 19, 2021 Order that was issued in PSC cases 20-G-0101 and 16-G-0204 involving the Gas Company’s rates for gas services (See Note 9 – Regulatory Matters). The Company’s petition claims that the NYPSC’s decision was arbitrary and capricious and an abuse of discretion, affected by errors of law, and in violation of established regulatory procedure. The Gas Company’s petition requests a judgment: (1) annulling and setting aside the Order as arbitrary, capricious and an abuse of discretion, affected by errors of law, in violation of lawful regulatory procedure, and unsupported by substantial evidence in the record, insofar as the Order implements four areas of “austerity” adjustments and denies recovery of leak survey and repair costs; (2) remanding this matter to the NYPSC for further proceedings consistent with the Court’s judgment; and (3) granting such other and further relief as may be just and proper. The resolution of this matter is unknown. Rate Case On July 16, 2021, the Gas Company filed a three-year rate plan with the NYPSC for rate years ending on June 30, 2023, 2024, and 2025. The rate increases requested for the three year rate plan are $5,758,453, $1,643,355, and $989,061, respectively. In its filing, the Gas Company proposes a rate plan with levelized increases over three years in the amount of $3,591,855 per year. These rates, if implemented, would impact customer bills by 11.14% in each year. 28 Table of Contents The requested rate increases are caused by the need to fund capital expenditures mandated by the NYPSC, recovery of increased property taxes, insurance and labor costs, and other operating expenses. The return on equity (“ROE”) requested in this case is 10.2%. The current allowed ROE is 8.8%. A decision on the Gas Company’s filing is expected within eleven months from the filing date. The NYPSC can approve, deny or modify the Company’s request. The NYPSC can also combine this rate case with the merger case (See Note 1 – “Basis For Presentation”). Taxes The Gas Company contested property tax assessments on its inactive compressor station facility located in the Town of Caton, New York for tax years 2019 and 2020. The parties to this contest have agreed to a settlement that we expect to conclude in the fourth quarter of 2021, that will result in a refund of property taxes and income of approximately $100,000, and future property tax reductions of approximately $50,000 per year. On July 1, 2021, the Gas Company filed amended payroll tax returns seeking a refund of federal payroll taxes in the amount of $53,000 related to payroll tax relief provided for COVID related paid leave for its employees.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Jun. 30, 2021
Basis of Presentation [Abstract]
Schedule of Unaudited Proforma Information	Three months ended Nine months ended June 30, 2020 June 30, 2020 Total Revenue $ 7,215,129 $ 28,226,678 Net Income $ 491,629 $ 3,676,518

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	9 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of contracts with customers	The following tables present, for the three and nine months ended June 30, 2021 and 2020, revenue from contracts with customers as defined in Accounting Standards Codification (“ASC 606”) (Revenue From Contracts With Customers), as well as additional revenue from sources other than contracts with customers, disaggregated by major source. For the three months ended June 30, 2021 Revenues from Other Total utility contracts with revenues operating customers (a) revenues Corning Gas: Residential gas $ 3,148,680 $ 182,727 $ 3,331,407 Commercial gas 415,934 - 415,934 Transportation 981,138 40,040 1,021,178 Street lights gas 126 - 126 Wholesale 366,319 - 366,319 Local production 105,206 - 105,206 Total Corning Gas 5,017,403 222,767 5,240,170 Pike: Residential gas 221,319 589 221,908 Commercial gas 75,892 - 75,892 Total Pike retail gas 297,211 589 297,800 Residential electric 846,232 6,776 853,008 Commercial electric 847,893 - 847,893 Electric – street lights 31,353 - 31,353 Total Pike retail electric 1,725,478 6,776 1,732,254 Total Pike 2,022,689 7,365 2,030,054 Leatherstocking Gas Residential gas 70,479 - 70,479 Commercial gas 59,198 - 59,198 Industrial sales 85,039 - 85,039 Total Leatherstocking Companies 214,716 - 214,716 Total consolidated utility operating revenue $ 7,254,808 $ 230,132 $ 7,484,940 (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9. 16 Table of Contents For the nine months ended June 30, 2021 Revenues from Other Total utility contracts with revenues operating customers (a) revenues Corning Gas: Residential gas $ 12,957,652 $ 473,321 $ 13,430,973 Commercial gas 1,704,525 - 1,704,525 Transportation 3,649,932 (68,420 ) 3,581,512 Street lights gas 317 - 317 Wholesale 1,603,141 - 1,603,141 Local production 459,692 - 459,692 Total Corning Gas 20,375,259 404,901 20,780,160 Pike: Residential gas 1,330,250 (2,281 ) 1,327,969 Commercial gas 371,535 - 371,535 Total Pike retail gas 1,701,785 (2,281 ) 1,699,504 Residential electric 2,768,810 60,259 2,829,069 Commercial electric 2,472,137 - 2,472,137 Electric – street lights 94,814 - 94,814 Total Pike retail electric 5,335,761 60,259 5,396,020 Total Pike 7,037,546 57,978 7,095,524 Leatherstocking Gas Residential gas 384,813 - 384,813 Commercial gas 343,868 - 343,868 Industrial sales 423,012 - 423,012 Total Leatherstocking Companies 1,151,693 - 1,151,693 Total consolidated utility operating revenue $ 28,564,498 $ 462,879 $ 29,027,377 (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. Other revenues also includes reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9. 17 Table of Contents For the three months ended June 30, 2020 Revenues from Other Total utility contracts with revenues operating customers (a) revenues Corning Gas: Residential gas $ 3,533,175 $ (189,420 ) $ 3,343,755 Commercial gas 369,957 - 369,957 Transportation 937,403 102,086 1,039,489 Street lights gas 94 - 94 Wholesale 339,688 - 339,688 Local production 170,495 - 170,495 Total Corning Gas $ 5,350,812 $ (87,334 ) $ 5,263,478 Pike: Residential gas $ 219,939 $ (351 ) $ 219,588 Commercial gas 57,230 - 57,230 Total Pike retail gas 277,169 (351 ) 276,818 Residential electric 746,204 (8,335 ) 737,869 Commercial electric 680,267 - 680,267 Electric – street lights 30,320 - 30,320 Total Pike retail electric 1,456,791 (8,335 ) 1,448,456 Total Pike $ 1,733,960 $ (8,686 ) $ 1,725,274 Total consolidated utility operating revenue $ 7,084,772 $ (96,020 ) $ 6,988,752 (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms and weather normalization provisions under a New York gas rate plan. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9. For the nine months ended June 30, 2020 Revenues from Other Total utility contracts with revenues operating customers (a) revenues Corning Gas: Residential gas $ 13,280,227 $ (5,502 ) $ 13,274,725 Commercial gas 1,922,877 - 1,922,877 Transportation 3,679,551 92,661 3,772,212 Street lights gas 301 - 301 Wholesale 1,506,837 - 1,506,837 Local production 533,743 - 533,743 Total Corning Gas $ 20,923,536 $ 87,159 $ 21,010,695 Pike: Residential gas $ 1,047,829 $ 1,290 $ 1,049,119 Commercial gas 262,041 - 262,041 Total Pike retail gas 1,309,870 1,290 1,311,160 Residential electric 2,364,886 88,940 2,453,826 Commercial electric 2,228,534 - 2,228,534 Electric – street lights 91,913 - 91,913 Total Pike retail electric 4,685,333 88,940 4,774,273 Total Pike $ 5,995,203 $ 90,230 $ 6,085,433 Total consolidated utility operating revenue $ 26,918,739 $ 177,389 $ 27,096,128 (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9.

Pension and Other Post-retire_2

Pension and Other Post-retirement Benefit Plans (Tables)	9 Months Ended
	Jun. 30, 2021
Pension and Other Post-retirement Benefit Plans [Abstract]
Schedule of components of net periodic benefit cost	Components of Net Periodic Benefit Cost: Pension Benefits Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Service Cost $ 198,623 $ 186,111 $ 595,868 $ 558,333 Interest Cost 240,959 246,324 722,876 738,972 Expected return on plan assets (361,414 ) (325,249 ) (1,084,243 ) (975,748 ) Amortization of net actuarial gain 244,156 224,321 732,469 672,965 Net periodic benefit cost $ 322,324 $ 331,507 $ 966,970 $ 994,522 Other Benefits Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Service Cost $ 4,739 $ 4,633 $ 14,218 $ 13,900 Interest Cost 6,972 9,255 20,918 27,766 Amortization of prior service cost 3,810 3,494 11,429 10,484 Amortization of net actuarial gain 421 654 1,262 1,963 Net periodic benefit cost $ 15,942 $ 18,036 $ 47,827 $ 54,113

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Jun. 30, 2021
Fair Value of Financial Instruments [Abstract]
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis	Fair value of assets and liabilities measured on a recurring basis at June 30, 2021 and September 30, 2020 are as follows: Fair Value Measurements at Reporting Date Using: Fair Value Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1) Level 2 Level 3 June 30, 2021 Available-for-sale securities $ 2,358,116 $ 2,358,116 $ - $ - September 30, 2020 Available-for-sale securities $ 2,193,112 $ 2,193,112 $ - $ -
Summary of Marketable Securities	A summary of the marketable securities at June 30, 2021 and September 30, 2020 is as follows: Cost Basis Unrealized Gain Unrealized Loss Market Value June 30, 2021 Cash and equivalents $ 125,806 $ - $ - $ 125,806 Metlife stock value 53,855 - - 53,855 Government and agency bonds 15,075 1,402 - 16,477 Holding Company Preferred A Stock 197,875 418,309 - 616,184 Equity/Debt securities 1,110,129 402,704 - 1,512,833 Commodities 33,420 - 459 32,961 Total securities $ 1,536,160 $ 822,415 $ 459 $ 2,358,116 September 30, 2020 Cash and equivalents $ 120,559 $ - $ - $ 120,559 Metlife stock value 30,701 - - 30,701 Government and agency bonds 143,960 9,312 - 153,272 Corporate bonds 143,196 3,951 - 147,147 Mutual funds 42,664 2,414 - 45,078 Holding Company Preferred A Stock 572,875 45,830 - 618,705 Equity securities 788,793 265,654 - 1,054,447 Commodities 21,881 1,322 - 23,203 Total securities $ 1,864,629 $ 328,483 $ - $ 2,193,112
Schedule of Gains Included in Earnings	Realized gains included in earnings for the periods reported in investment income are as follows: Investment Income Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Net realized gains and (losses) recognized during the period on investments $ 23,170 $ 13,208 $ 198,392 $ (9,344 )

Stockholders' Equity and Pref_2

Stockholders' Equity and Preferred Stock (Tables)	9 Months Ended
	Jun. 30, 2021
Shareholders' Equity Note [Abstract]
Schedule of Common Stock Issued	Shares issued during the three and nine months ended June 30, 2021 and 2020 were for the following: Three months ended June 30, 2021 Nine months ended June 30, 2021 Shares Amount Shares Amount Dividend reinvestment program (DRIP) - - 3,380 $ 51,749 Directors - - 3,150 40,163 Officers - - 4,500 34,984 Total - - 11,030 $ 126,896 Three months ended June 30, 2020 Nine months ended June 30, 2020 Shares Amount Shares Amount Dividend reinvestment program (DRIP) 3,570 $ 50,244 8,989 $ 151,011 Directors 3,150 36,619 9,450 127,469 Leatherstocking Gas Company 150 2,327 450 8,120 Total 6,870 $ 89,190 18,889 $ 286,600
Schedule of Stock Option Activity	Weighted Weighted Average Number of Average Remaining Life Options Exercise Price (years) Outstanding at September 30, 2020 10,000 $ 16.50 9.92 Granted - - - Exercised - - - Expired or Forfeited - - - Outstanding at June 30, 2021 10,000 $ 16.50 9.16

Investment in Joint Ventures (T

Investment in Joint Ventures (Tables)	9 Months Ended
	Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of investment in joint ventures	The following table represents the Holding Company’s investment activity in the Leatherstocking joint ventures for the nine months ended June 30, 2021 and 2020: 2021 2020 Beginning balance in investment in joint ventures $ 264,640 $ 2,597,919 Cost adjustment (808 ) - Loss from joint ventures (2,491 ) (50,442 ) Ending balance in joint ventures $ 261,341 $ 2,547,477
Schedule of Joint Ventures Financial Summary	As of and for the nine months ended June 30, 2021 and 2020, the Joint Ventures financial summary is as follows: 2021 2020 Total assets $ 528,000 $ 12,066,000 Total liabilities $ 5,000 $ 6,971,000 Net (loss) income $ (5,000 ) $ 101,000

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense	Income tax (benefit) expense for the periods ended June 30 are as follows: Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Current $ - $ - $ - $ - Deferred (461,187 ) (7,645 ) 682,918 1,158,045 Total $ ( 461,187 ) $ (7,645 ) $ 682,918 $ 1,158,045

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of results of the segments consistent with the Holding Company's internal financial reporting process	The following table reflects the results of the segments consistent with the Holding Company’s internal financial reporting process. The following results are used in part, by management, both in evaluating the performance of, and in allocating resources to, each of the segments. As of and for the three months ended June 30, 2021 Leatherstocking Holding Total Gas Company Pike Companies* Company Consolidated Total electric utility revenue $ - $ 1,732,254 $ - $ - $ 1,732,254 Total gas utility revenue $ 5,240,170 $ 297,800 $ 214,716 $ - $ 5,752,686 Investment income $ 92,272 $ - $ - $ 10 $ 92,282 Income (loss) on joint ventures $ - $ - $ - $ 5,022 $ 5,022 Net income (loss) $ 523,241 $ 79,953 $ (132,069 ) $ (198,259 ) $ 272,866 Income tax expense (benefit) $ (273,686 ) $ (28,188 ) $ (56,868 ) $ (102,445 ) $ (461,187 ) Interest expense $ 656,976 $ 159,652 $ 83,971 $ 177,231 $ 1,077,830 Depreciation expense $ 486,430 $ 242,506 $ 91,791 $ 915 $ 821,642 Amortization expense $ 53,164 $ 76,923 $ 3,042 $ 12,006 $ 145,135 Total assets $ 97,913,031 $ 31,126,740 $ 12,699,615 $ 737,456 $ 142,476,842 Capital expenditures $ 1,522,861 $ 721,828 $ 316,642 $ - $ 2,561,331 *Acquired July 1, 2020 As of and for the three months ended June 30, 2020 Leatherstocking Holding Total Gas Company Pike Companies* Company Consolidated Total electric utility revenue $ - $ 1,448,456 $ - $ - $ 1,448,456 Total gas utility revenue $ 5,263,478 $ 276,818 $ - $ - $ 5,540,296 Investment income (expense) $ 173,752 $ - $ - $ (8,622 ) $ 165,130 Loss from joint ventures $ - $ - $ - $ (53,912 ) $ (53,912 ) Net income (loss) $ 542,944 $ (50,740 ) $ - $ 65,401 $ 557,605 Income tax expense (benefit) $ 293,408 $ (13,023 ) $ - $ (288,030 ) $ (7,645 ) Interest expense $ 326,616 $ 162,552 $ - $ 136,113 $ 625,281 Depreciation expense $ 466,658 $ 181,074 $ - $ 915 $ 648,647 Amortization expense $ 68,190 $ 97,431 $ - $ 11,965 $ 177,586 Total assets $ 92,719,009 $ 28,938,796 $ - $ 3,339,499 $ 124,997,304 Capital expenditures $ 1,231,859 $ 551,212 $ - $ - $ 1,783,071 *Acquired July 1, 2020 27 Table of Contents As of and for the nine months ended June 30, 2021 Leatherstocking Holding Total Gas Company Pike Companies* Company Consolidated Total electric utility revenue $ - $ 5,396,020 $ - $ - $ 5,396,020 Total gas utility revenue $ 20,780,160 $ 1,699,504 $ 1,151,693 $ - $ 23,631,357 Investment income $ 361,767 $ - $ - $ 54 $ 361,821 Loss from joint ventures $ - $ - $ - $ (2,491 ) $ (2,491 ) Net income (loss) $ 3,607,108 $ 176,704 $ (84,056 ) $ (913,649 ) $ 2,786,107 Income tax expense (benefit) $ 927,446 $ 24,649 $ (69,521 ) $ (199,656 ) $ 682,918 Interest expense $ 1,324,312 $ 472,847 $ 239,625 $ 531,693 $ 2,568,477 Depreciation expense $ 1,476,765 $ 713,789 $ 356,552 $ 2,745 $ 2,549,851 Amortization expense $ 184,595 $ 262,627 $ 9,126 $ 36,018 $ 492,366 Total assets $ 97,913,031 $ 31,126,740 $ 12,699,615 $ 737,456 $ 142,476,842 Capital expenditures $ 4,031,438 $ 2,246,512 $ 678,887 $ - $ 6,956,837 *Acquired July 1, 2020 As of and for the nine months ended June 30, 2020 Leatherstocking Holding Total Gas Company Pike Companies* Company Consolidated Total electric utility revenue $ - $ 4,774,273 $ - $ - $ 4,774,273 Total gas utility revenue $ 21,010,695 $ 1,311,160 $ - $ - $ 22,321,855 Investment income $ 96,290 $ - $ - $ 114 $ 96,404 Income from joint ventures $ - $ - $ - $ (50,442 ) $ (50,442 ) Net income (loss) $ 3,725,463 $ 65,949 $ - $ (74,650 ) $ 3,716,762 Income tax expense (benefit) $ 1,387,459 $ 49,220 $ - $ (278,634 ) $ 1,158,045 Interest expense $ 1,018,235 $ 508,082 $ - $ 317,951 $ 1,844,268 Depreciation expense $ 1,402,213 $ 543,222 $ - $ 2,745 $ 1,948,180 Amortization expense $ 221,629 $ 303,767 $ - $ 35,853 $ 561,249 Total assets $ 92,719,009 $ 28,938,796 $ - $ 3,339,499 $ 124,997,304 Capital expenditures $ 4,329,908 $ 1,610,654 $ - $ - $ 5,940,562 *Acquired July 1, 2020

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	9 Months Ended
	Jun. 30, 2021	Jan. 12, 2021$ / shares	Jul. 02, 2020
Merger Agreement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Consideration per share		$ 24.75
Merger Agreement [Member] | Series A Preferred Stock [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Consideration per share		25
Merger Agreement [Member] | Series B Preferred Stock [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Consideration per share		29.70
Merger Agreement [Member] | Series C Preferred Stock [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Consideration per share		$ 25
Leatherstocking Gas Company LLC And Leatherstocking Pipeline Company LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage of joint venture			50.00%
New York Area [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of customers	15,000
Townships of Westfall, Milford and the northern part of Dingman [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of customers	4,800
Westfall Township and Borough of Matamoras [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of customers	1,200

Basis of Presentation (Schedule

Basis of Presentation (Schedule of Unaudited Proforma Information) (Details) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Basis of Presentation [Abstract]
Total Revenue	$ 7,215,129	$ 28,226,678
Net Income	$ 491,629	$ 3,676,518

Revenue From Contracts With C_3

Revenue From Contracts With Customers (Details) - USD ($)	3 Months Ended				9 Months Ended
	Jun. 30, 2021		Jun. 30, 2020		Jun. 30, 2021		Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 7,254,808		$ 7,084,772		$ 28,564,498		$ 26,918,739
Other revenues	230,132	[1]	(96,020)	[2]	462,879	[3]	177,389	[1]
Total utility operating revenues	7,484,940		6,988,752		29,027,377		27,096,128
Corning Residential Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,148,680		3,533,175		12,957,652		13,280,227
Other revenues	182,727	[1]	(189,420)	[2]	473,321	[3]	(5,502)	[1]
Total utility operating revenues	3,331,407		3,343,755		13,430,973		13,274,725
Corning Commercial Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	415,934		369,957		1,704,525		1,922,877
Other revenues		[1]		[2]		[3]		[1]
Total utility operating revenues	415,934		369,957		1,704,525		1,922,877
Corning Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	981,138		937,403		3,649,932		3,679,551
Other revenues	40,040	[1]	102,086	[2]	(68,420)	[3]	92,661	[1]
Total utility operating revenues	1,021,178		1,039,489		3,581,512		3,772,212
Corning Street Lights Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	126		94		317		301
Other revenues		[1]		[2]		[3]		[1]
Total utility operating revenues	126		94		317		301
Corning Wholesale [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	366,319		339,688		1,603,141		1,506,837
Other revenues		[1]		[2]		[3]		[1]
Total utility operating revenues	366,319		339,688		1,603,141		1,506,837
Corning Local Production [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	105,206		170,495		459,692		533,743
Other revenues		[1]		[2]		[3]		[1]
Total utility operating revenues	105,206		170,495		459,692		533,743
Total Corning Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,017,403		5,350,812		20,375,259		20,923,536
Other revenues	222,767	[1]	(87,334)	[2]	404,901	[3]	87,159	[1]
Total utility operating revenues	5,240,170		5,263,478		20,780,160		21,010,695
Pike Residential Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	221,319		219,939		1,330,250		1,047,829
Other revenues	589	[1]	(351)	[2]	(2,281)	[3]	1,290	[1]
Total utility operating revenues	221,908		219,588		1,327,969		1,049,119
Pike Commercial Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	75,892		57,230		371,535		262,041
Other revenues		[1]		[2]		[3]		[1]
Total utility operating revenues	75,892		57,230		371,535		262,041
Total Pike Retail Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	297,211		277,169		1,701,785		1,309,870
Other revenues	589	[1]	(351)	[2]	(2,281)	[3]	1,290	[1]
Total utility operating revenues	297,800		276,818		1,699,504		1,311,160
Pike Residential Electric [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	846,232		746,204		2,768,810		2,364,886
Other revenues	6,776	[1]	(8,335)	[2]	60,259	[3]	88,940	[1]
Total utility operating revenues	853,008		737,869		2,829,069		2,453,826
Pike Commercial Electric [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	847,893		680,267		2,472,137		2,228,534
Other revenues		[1]		[2]		[3]		[1]
Total utility operating revenues	847,893		680,267		2,472,137		2,228,534
Pike Electric - Street Lights [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	31,353		30,320		94,814		91,913
Other revenues		[1]		[2]		[3]		[1]
Total utility operating revenues	31,353		30,320		94,814		91,913
Pike Retail Electric [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,725,478		1,456,791		5,335,761		4,685,333
Other revenues	6,776	[1]	(8,335)	[2]	60,259	[3]	88,940	[1]
Total utility operating revenues	1,732,254		1,448,456		5,396,020		4,774,273
Total Pike [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,022,689		1,733,960		7,037,546		5,995,203
Other revenues	7,365	[1]	(8,686)	[2]	57,978	[3]	90,230	[1]
Total utility operating revenues	2,030,054		$ 1,725,274		7,095,524		$ 6,085,433
Leatherstocking Residential Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	70,479				384,813
Other revenues		[1]				[3]
Total utility operating revenues	70,479				384,813
Leatherstocking Commercial Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	59,198				343,868
Other revenues		[1]				[3]
Total utility operating revenues	59,198				343,868
Leatherstocking Industrial Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	85,039				423,012
Other revenues		[1]				[3]
Total utility operating revenues	85,039				423,012
Leatherstocking [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	214,716				1,151,693
Other revenues		[1]				[3]
Total utility operating revenues	$ 214,716				$ 1,151,693
[1]	Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9.
[2]	Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms and weather normalization provisions under a New York gas rate plan. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9.
[3]	Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. Other revenues also includes reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 9.

Pension and Other Post-retire_3

Pension and Other Post-retirement Benefit Plans (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Pension expense	$ 165,071	$ 218,683	$ 507,496	$ 656,049
Deferred regulatory liabiliity	9,907	358,670	9,907	358,670
Deemed credit amount			450,000
Reduce in cash contribution			260,000
Post-retirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Other post-retirement benefit expense (benefit)	13,154	14,680	39,346	44,040
Ratemaking and financial statement purposes [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension expense			1,540,956	1,225,004
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions, 2021	692,554		692,554
Company contributions	$ 0	$ 288,652	$ 511,266	$ 663,750

Pension and Other Post-retire_4

Pension and Other Post-retirement Benefit Plans (Schedule of Net Period Benefit Cost (Benefit)) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Pension Benefits [Member]
Components of Net Periodic Benefit Cost:
Service Cost	$ 198,623	$ 186,111	$ 595,868	$ 558,333
Interest Cost	240,959	246,324	722,876	738,972
Expected return on plan assets	(361,414)	(325,249)	(1,084,243)	(975,748)
Amortization of net (gain) loss	244,156	224,321	732,469	672,965
Net periodic benefit cost	322,324	331,507	966,970	994,522
Other Benefits [Member]
Components of Net Periodic Benefit Cost:
Service Cost	4,739	4,633	14,218	13,900
Interest Cost	6,972	9,255	20,918	27,766
Amortization of prior service cost	3,810	3,494	11,429	10,484
Amortization of net (gain) loss	421	654	1,262	1,963
Net periodic benefit cost	$ 15,942	$ 18,036	$ 47,827	$ 54,113

Financing Activities (Details)

Financing Activities (Details) - USD ($)	Jan. 14, 2021	Oct. 13, 2020	Jun. 25, 2021	May 21, 2021	Apr. 15, 2021	Oct. 31, 2020	Aug. 31, 2020	Jun. 30, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Short term borrowings								$ 8,747,610	$ 7,698,269
Regulatory liability								3,012,328	$ 3,243,054
Leatherstocking Payroll Protection Program [Member]
Debt Instrument [Line Items]
Forgiveness of loan								65,491
Gain on forgiveness of debt								970,900
Regulatory liability								490,000
Pike Payroll Protection Program [Member]
Debt Instrument [Line Items]
Forgiveness of loan					$ 137,200
Payroll Protection Program [Member]
Debt Instrument [Line Items]
Forgiveness of loan				$ 970,900
Rural Energy Services Program [Member]
Debt Instrument [Line Items]
Debt, face amount								1,000,000
Revolving Credit Facility [Member] | Agreement with M&T [Member]
Debt Instrument [Line Items]
Debt, face amount							$ 3,718,000
Interest rate, spread on basis							3.00%
Maturity date							Nov. 30, 2030
Repayment of loan						$ 250,000
Interest rate						3.50%	0.50%
Converted Amount outstanding							$ 3,718,000
Converted Term							10 years
Agreement with M&T [Member] | Multiple Disbursement Note [Member]
Debt Instrument [Line Items]
Debt, face amount		$ 1,315,000
Maturity date		Nov. 30, 2030
Interest rate		3.50%
Converted Term		10 years
Agreement with M&T [Member] | Corning Gas [Member]
Debt Instrument [Line Items]
Debt, face amount	$ 850,000		$ 4,665,000					2,412,978
Short term borrowings			$ 850,000
Interest rate, spread on basis	2.60%		2.90%
Maturity date	Apr. 15, 2021		Oct. 31, 2031
Interest rate	3.10%		3.40%
Converted Term			10 years
Agreement with M&T for Bridge Loan [Member] | Corning Gas [Member]
Debt Instrument [Line Items]
Debt, face amount			$ 1,900,000					$ 1,900,000
Interest rate, spread on basis			3.00%
Interest rate			3.50%
Expected term loan with M&T Bank for Pike construction projects [Member]
Debt Instrument [Line Items]
Debt, face amount			$ 2,200,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 2,358,116	$ 2,193,112
Recurring [Member] | Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	2,358,116	2,193,112
Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities
Recurring [Member] | Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 2,358,116	$ 2,193,112

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Summary of Marketable Securities) (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Marketable Securities
Market Value	$ 2,358,116	$ 2,193,112
Unrealized Gain	822,415	328,483
Unrealized Loss	459
Cost Basis	1,536,160	1,864,629
Cash and equivalents [Member]
Marketable Securities
Market Value	125,806	120,559
Unrealized Gain
Unrealized Loss
Cost Basis	125,806	120,559
MetLife stock value [Member]
Marketable Securities
Market Value	53,855	30,701
Unrealized Gain
Unrealized Loss
Cost Basis	53,855	30,701
Government and agency bonds [Member]
Marketable Securities
Market Value	16,477	153,272
Unrealized Gain	1,402	9,312
Unrealized Loss
Cost Basis	15,075	143,960
Holding Company Preferred A Stock [Member]
Marketable Securities
Market Value	616,184	618,705
Unrealized Gain	418,309	45,830
Unrealized Loss
Cost Basis	197,875	572,875
Equity/Debt securities [Member]
Marketable Securities
Market Value	1,512,833	1,054,447
Unrealized Gain	402,704	265,654
Unrealized Loss
Cost Basis	1,110,129	788,793
Commodities [Member]
Marketable Securities
Market Value	32,961	23,203
Unrealized Gain		1,322
Unrealized Loss	459
Cost Basis	$ 33,420	21,881
Corporate bonds [Member]
Marketable Securities
Market Value		147,147
Unrealized Gain		3,951
Unrealized Loss
Cost Basis		143,196
Mutual Funds [Member]
Marketable Securities
Market Value		45,078
Unrealized Gain		2,414
Unrealized Loss
Cost Basis		$ 42,664

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Schedule of Gains Included in Earnings) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized (losses)/gains on investments			$ (138,826)	$ (73,996)
Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains and (losses) recognized during the period on investments	$ 23,170	$ 13,208	198,392	(9,344)
Unrealized (losses)/gains on investments	$ (58,660)	$ 160,051	$ 138,826	$ 73,996

Stockholders' Equity and Pref_3

Stockholders' Equity and Preferred Stock (Narrative) (Details) - USD ($)	3 Months Ended			9 Months Ended
	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Dividends declared on common	$ 469,898	$ 468,235	$ 467,210	$ 1,409,693	$ 1,375,767
Stock issued during the period, value		51,749
Dividends declared on Preferred shares	61,065		61,065	183,197	183,197
Debt issuance costs				80,657	80,164
Series A Cumulative Preferred Stock [Member]
Class of Stock [Line Items]
Dividends declared on Preferred shares	$ 97,725		78,975	$ 293,175	236,925
Liquidation preference per share	$ 25			$ 25
Percentage of dividend rate on preferred shares				6.00%
Debt issuance costs	$ 2,538		5,183	$ 7,614	15,548
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Dividends accrued	$ 61,065	$ 61,066		$ 61,065
Liquidation preference per share	$ 20.75			$ 20.75
Percentage of dividend rate on preferred shares				4.80%
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Dividends declared on Preferred shares	$ 67,500		74,250	$ 202,500	74,250
Liquidation preference per share	$ 25			$ 25
Percentage of dividend rate on preferred shares				6.00%
Debt issuance costs	$ 62		$ 0	$ 186
Series B Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Common stock issuable upon conversion of convertible securities	293,116		293,116

Stockholders' Equity and Pref_4

Stockholders' Equity and Preferred Stock (Schedule of Stockholders' Equity) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Total, shares		6,870	11,030	18,889
Total		$ 89,190	$ 126,896	$ 286,600
Directors [Member]
Class of Stock [Line Items]
Total, shares		3,150	3,150	9,450
Total		$ 36,619	$ 40,163	$ 127,469
Leatherstocking Gas Company [Member]
Class of Stock [Line Items]
Total, shares		150		450
Total		$ 2,327		$ 8,120
Officers [Member]
Class of Stock [Line Items]
Total, shares			4,500
Total			$ 34,984
Dividend reinvestment program (DRIP) [Member]
Class of Stock [Line Items]
Total, shares		3,570	3,380	8,989
Total		$ 50,244	$ 51,749	$ 151,011

Stockholders' Equity and Pref_5

Stockholders' Equity and Preferred Stock (Schedule of Stock Option Activity) (Details) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Jun. 30, 2021
Number of Options
Outstanding at September 30, 2020		10,000
Granted
Exercised
Expired or Forfeited
Outstanding at June 30, 2021	10,000	10,000
Weighted-Average Exercise Price
Outstanding at September 30, 2020		$ 16.50
Granted
Exercised
Expired or Forfeited
Outstanding at June 30, 2021	$ 16.50	$ 16.50
Outstanding at June 30, 2021	9 years 11 months 1 day	9 years 1 month 28 days

Investment in Joint Ventures (N

Investment in Joint Ventures (Narrative) (Details) - Leatherstocking Gas Company LLC And Leatherstocking Pipeline Company LLC [Member] - USD ($)	9 Months Ended
	Jun. 30, 2021	Jul. 02, 2020
Schedule of Equity Method Investments [Line Items]
Ownership percentage		50.00%
Assets acquired book value		$ 532,000
Purchase Price	$ 100,000

Investment in Joint Ventures (S

Investment in Joint Ventures (Schedule of Investment Activity) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
Beginning balance in investment in joint ventures			$ 264,640	$ 2,597,919
Cost adjustment			(808)
Loss from joint ventures	$ 5,022	$ (53,912)	(2,491)	(50,442)
Ending balance in joint ventures	$ 261,341	$ 2,547,477	$ 261,341	$ 2,547,477

Investment in Joint Ventures _2

Investment in Joint Ventures (Summary of Joint Ventures financial) (Details) - USD ($)	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Schedule of Equity Method Investments [Line Items]
Total assets	$ 142,476,842	$ 124,997,304	$ 136,459,306
Equity Method Investment [Member]
Schedule of Equity Method Investments [Line Items]
Total assets	528,000	12,066,000
Total liabilities	5,000	6,971,000
Net (loss) income	$ (5,000)	$ 101,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jul. 31, 2021
Income Tax Examination [Line Items]
Federal corporate tax rate	21.00%	21.00%	21.00%	21.00%
State [Member] | Subsequent Event [Member]
Income Tax Examination [Line Items]
Tax refund					$ 99,000

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred and Current Income Tax Expense) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Current
Deferred	(461,187)	(7,645)	682,918	1,158,045
Total	$ (461,187)	$ (7,645)	$ 682,918	$ 1,158,045

Regulatory Matters (Details)

Regulatory Matters (Details) - USD ($)	Jul. 15, 2021	Feb. 27, 2020	Jun. 25, 2021	Mar. 31, 2021	Oct. 24, 2020	Jun. 26, 2020	Jun. 30, 2021	Jun. 30, 2021	Apr. 30, 2021	Sep. 30, 2020
Public Utilities, General Disclosures [Line Items]
Return on equity, percentage								10.20%
Description of rate order								The rate order disallowed the Company’s request for an increase in required revenue, and instead ordered a reduction of $766,000 from current rates. In the current rate order, the existing $1.3 million tax sur-credit (an adjustment to rates to refund to customers an amount owing them due to income tax rate reductions in the 2017 Tax Cuts and Jobs Act) expired, along with a $30,000 reduction to the annual Delivery Rate Adjustment. The net impact on the Gas Company’s customers was an increase of $505,000 for the Rate Year, retroactive to February 1, 2021.
Reserve amount							$ 170,000
Reserve amount against regulatory asset							340,000
Regulatory Assets							14,951,279	$ 14,951,279		$ 14,213,457
Regulatory assets under deferred accounting petitions							977,630	$ 977,630		1,435,762
Revenue requirement						$ 6,223,603
Long term debt									$ 19,100,000	$ 29,500,000
Gas Payroll Protection Program [Member]
Public Utilities, General Disclosures [Line Items]
Forgiveness of loan							$ 970,900
Electric Service [Member]
Public Utilities, General Disclosures [Line Items]
Increase in revenues from gas delivery service					$ 1,933,600
Amount of increase of rates	$ 1,400,000			$ 1,400,000
Gas Company [Member]
Public Utilities, General Disclosures [Line Items]
Increase in revenues from gas delivery service					$ 262,200
Gas Service [Member]
Public Utilities, General Disclosures [Line Items]
Amount of increase of rates			$ 225,000	$ 225,000
Department of Public Service Staff [Member]
Public Utilities, General Disclosures [Line Items]
Return on equity, percentage						8.45%
Revenue requirement						$ 517,063
Department of Public Service Staff [Member] | Minimum [Member]
Public Utilities, General Disclosures [Line Items]
recovery extension period						3 years
Department of Public Service Staff [Member] | Maximum [Member]
Public Utilities, General Disclosures [Line Items]
recovery extension period						5 years
Year Ending January 31, 2022 [Member]
Public Utilities, General Disclosures [Line Items]
Increase in revenues from gas delivery service		$ 6,255,926
Total bill impacts on customers, percentage		23.40%
Pro-forma equity ratios		50.67%
Incremental cost		$ 3,523,167
Year Ending January 31, 2023 [Member]
Public Utilities, General Disclosures [Line Items]
Increase in revenues from gas delivery service		$ 845,142
Total bill impacts on customers, percentage		2.56%
Pro-forma equity ratios		52.95%
Incremental cost		$ 3,523,167
Year Ending January 31, 2024 [Member]
Public Utilities, General Disclosures [Line Items]
Increase in revenues from gas delivery service		$ 680,913
Total bill impacts on customers, percentage		2.01%
Pro-forma equity ratios		55.26%
Incremental cost		$ 3,523,167

Segment Reporting (Details)

Segment Reporting (Details) - USD ($)		3 Months Ended		9 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Segment Reporting Information [Line Items]
Total electric utility revenue		$ 1,732,254	$ 1,448,456	$ 5,396,020	$ 4,774,273
Total gas utility revenue		5,752,686	5,540,296	23,631,357	22,321,855
Investment income		92,282	165,130	361,821	96,404
Income (loss) on joint ventures		5,022	(53,912)	(2,491)	(50,442)
Net income (loss)		272,866	557,605	2,786,107	3,716,762
Income tax expense (benefit)		(461,187)	(7,645)	682,918	1,158,045
Interest expense		1,077,830	625,281	2,568,477	1,844,268
Depreciation expense		821,642	648,647	2,549,851	1,948,180
Amortization expense		145,135	177,586	492,366	561,249
Total assets		142,476,842	124,997,304	142,476,842	124,997,304	$ 136,459,306
Capital expenditures		2,561,331	1,783,071	6,956,837	5,940,562
Gas Company [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue
Total gas utility revenue		5,240,170	5,263,478	20,780,160	21,010,695
Investment income		92,272	173,752	361,767	96,290
Income (loss) on joint ventures
Net income (loss)		523,241	542,944	3,607,108	3,725,463
Income tax expense (benefit)		(273,686)	293,408	927,446	1,387,459
Interest expense		656,976	326,616	1,324,312	1,018,235
Depreciation expense		486,430	466,658	1,476,765	1,402,213
Amortization expense		53,164	68,190	184,595	221,629
Total assets		97,913,031	92,719,009	97,913,031	92,719,009
Capital expenditures		1,522,861	1,231,859	4,031,438	4,329,908
Pike [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue		1,732,254	1,448,456	5,396,020	4,774,273
Total gas utility revenue		297,800	276,818	1,699,504	1,311,160
Investment income
Income (loss) on joint ventures
Net income (loss)		79,953	(50,740)	176,704	65,949
Income tax expense (benefit)		(28,188)	(13,023)	24,649	49,220
Interest expense		159,652	162,552	472,847	508,082
Depreciation expense		242,506	181,074	713,789	543,222
Amortization expense		76,923	97,431	262,627	303,767
Total assets		31,126,740	28,938,796	31,126,740	28,938,796
Capital expenditures		721,828	551,212	2,246,512	1,610,654
Leatherstocking Companies [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue	[1]
Total gas utility revenue	[1]	214,716		1,151,693
Investment income	[1]
Income (loss) on joint ventures	[1]
Net income (loss)	[1]	(132,069)		(84,056)
Income tax expense (benefit)	[1]	(56,868)		(69,521)
Interest expense	[1]	83,971		239,625
Depreciation expense	[1]	91,791		356,552
Amortization expense	[1]	3,042		9,126
Total assets	[1]	12,699,615		12,699,615
Capital expenditures	[1]	316,642		678,887
Holding Company [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue
Total gas utility revenue
Investment income		10	(8,622)	54	114
Income (loss) on joint ventures		5,022	(53,912)	(2,491)	(50,442)
Net income (loss)		(198,259)	65,401	(913,649)	(74,650)
Income tax expense (benefit)		(102,445)	(288,030)	(199,656)	(278,634)
Interest expense		177,231	136,113	531,693	317,951
Depreciation expense		915	915	2,745	2,745
Amortization expense		12,006	11,965	36,018	35,853
Total assets		737,456	3,339,499	737,456	3,339,499
Capital expenditures
[1]	Acquired July 1, 2020

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jul. 16, 2021	Sep. 30, 2021	Jun. 30, 2021	Jul. 01, 2021
Subsequent Event [Line Items]
Return on equity percentage			10.20%
Forecast [Member]
Subsequent Event [Line Items]
Income from tax refund		$ 100,000
Future property tax reductions		$ 50,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Amount of levelized increases over three years by gas company	$ 3,591,855
Percentage of impact customer bills	11.14%
Payroll tax relief provided for COVID related paid leave for employees				$ 53,000
Subsequent Event [Member] | Minimum [Member]
Subsequent Event [Line Items]
Return on equity percentage	8.80%
Subsequent Event [Member] | Maximum [Member]
Subsequent Event [Line Items]
Return on equity percentage	10.20%
Subsequent Event [Member] | June 30, 2023 [Member]
Subsequent Event [Line Items]
Amount of rate increases in gas company	$ 5,758,453
Subsequent Event [Member] | June 30, 2024 [Member]
Subsequent Event [Line Items]
Amount of rate increases in gas company	1,643,355
Subsequent Event [Member] | June 30, 2025 [Member]
Subsequent Event [Line Items]
Amount of rate increases in gas company	$ 989,061