Corning Natural Gas Holding (CNIG) 10-Q 12 May 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2022	May 12, 2022
Cover [Abstract]
Entity Central Index Key	0001582244
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
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
Trading Symbol	N/A
Name of Exchange on which Security is Registered	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 ($)	Mar. 31, 2022	Sep. 30, 2021
Plant:
Utility property, plant and equipment	$ 155,900,083	$ 150,540,525
Less: accumulated depreciation	(34,879,199)	(34,001,558)
Total plant, net	121,020,884	116,538,967
Investments:
Marketable securities at fair value	2,184,478	2,337,330
Investment in joint ventures		261,180
Total investments	2,184,478	2,598,510
Current assets:
Cash and cash equivalents	333,485	333,846
Customer accounts receivable, (net of allowance for uncollectible accounts of $212,563 and $82,040, respectively)	6,064,507	2,481,456
Other accounts receivable	158,619	748,655
Gas stored underground, at average cost	478,812	1,366,341
Materials and supplies inventories	5,039,235	3,605,300
Prepaid expenses	3,075,046	1,746,336
Total current assets	15,149,704	10,281,934
Regulatory assets:
Unrecovered gas and electric costs	2,042,733	1,986,198
Deferred regulatory costs	5,993,995	6,112,370
Deferred pension	4,902,162	4,902,666
Goodwill	918,121	918,121
Other	701,106	715,981
Total regulatory and other assets	14,558,117	14,635,336
Total assets	152,913,183	144,054,747
Liabilities and capitalization
Long-term debt, less current installments	42,797,116	46,145,319
Less: debt issuance costs	(234,466)	(237,162)
Total long-term debt	42,562,650	45,908,157
Redeemable preferred stock - Series A (Authorized 261,500 shares. Issued and outstanding: 260,600 shares at March 31, 2022 and September 30, 2021, less issuance costs of $15,228 and $20,303, respectively)	6,499,772	6,494,697
Redeemable preferred stock - Series C (Authorized 180,000 shares. Issued and outstanding: 180,000 shares at March 31, 2022 September 30, 2021, less issuance costs of $1,153 and $1,277, respectively)	4,498,847	4,498,723
Redeemable preferred stock - Series D (Authorized 5,000 shares. Issued and outstanding: 5,000 shares at March 31, 2022)	5,000,000
Current liabilities:
Current portion of long-term debt	6,776,409	6,407,545
Demand notes payable	5,900,000	5,397,294
Borrowings under lines-of-credit and short-term debt	9,191,625	7,668,557
Accounts payable	6,017,138	3,844,210
Accrued expenses	341,417	271,461
Customer deposits and accrued interest	993,801	1,519,576
Dividends declared	530,296	530,296
Total current liabilities	29,750,686	25,638,939
Deferred credits and other liabilities:
Deferred income taxes	9,240,421	8,149,853
Regulatory liabilities	2,840,015	2,969,076
Deferred compensation	1,328,184	1,417,686
Pension costs and post-retirement benefits	7,811,208	7,180,088
Other	1,045,481	1,344,416
Total deferred credits and other liabilities	22,265,309	21,061,119
Commitments and contingencies
Temporary equity:
Redeemable convertible preferred stock - Series B (Authorized 244,500 shares. Issued and outstanding: 244,263 shares at March 31, 2022 and September 30, 2021)	4,993,375	4,980,562
Common stockholders' equity:
Common stock ($.01 par value per share. Authorized 4,500,000 shares. Issued and outstanding: 3,083,577 shares at March 31, 2022 and September 30, 2021)	30,836	30,836
Additional paid-in capital	28,292,551	28,292,551
Retained earnings	9,019,157	7,148,246
Accumulated other comprehensive income		917
Total common stockholders' equity	37,342,544	35,472,550
Total liabilities and capitalization	$ 152,913,183	$ 144,054,747

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Current assets:
Allowance for uncollectible accounts	$ 212,563	$ 82,040
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	$ 15,228	$ 20,303
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	$ 1,153	$ 1,277
Redeemable preferred stock - Series D, authorized shares	5,000
Redeemable preferred stock - Series D, shares issued	5,000
Redeemable preferred stock - Series D, shares outstanding	5,000
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	3,083,577
Common stock, shares outstanding	3,083,577	3,083,577

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Utility operating revenues:
Total utility operating revenues	$ 16,964,734	$ 13,223,039	$ 27,443,007	$ 21,542,437
Costs of sales:
Total cost of sales	6,847,270	3,840,831	10,485,772	5,903,594
Gross margin	10,117,464	9,382,208	16,957,235	15,638,843
Cost and expense:
Operating and maintenance expense	3,788,078	3,493,717	7,022,559	6,850,471
Taxes other than income taxes	1,117,591	951,225	2,095,238	1,843,970
Depreciation	946,907	858,769	1,792,747	1,728,209
Other deductions, net	81,573	83,023	146,351	151,067
Total costs and expenses	5,934,149	5,386,734	11,056,895	10,573,717
Utility operating income	4,183,315	3,995,474	5,900,340	5,065,126
Other income and (expense):
Interest expense	(863,341)	(745,202)	(1,720,396)	(1,490,647)
Other income (expense), net	(74,159)	(59,426)	(169,660)	(194,435)
Investment (expense) income	(80,206)	125,813	28,293	269,539
Loss associated with joint venture		(5,812)	(164,003)	(7,513)
Rental income	7,638	7,638	15,276	15,276
Income from utility operations, before income taxes	3,173,247	3,318,485	3,889,850	3,657,346
Income tax expense	(704,701)	(988,418)	(957,011)	(1,144,105)
Net income	2,468,546	2,330,067	2,932,839	2,513,241
Less: Series B Preferred Stock Dividends	61,066	61,066	122,132	122,132
Net income attributable to common stockholders	$ 2,407,480	$ 2,269,001	$ 2,810,707	$ 2,391,109
Weighted average earnings per share:
Basic	$ 0.78	$ 0.74	$ 0.91	$ 0.78
Diluted	$ 0.73	$ 0.69	$ 0.87	$ 0.74
Average shares outstanding - basic	3,083,577	3,083,577	3,083,577	3,081,823
Average shares outstanding - diluted	3,380,417	3,379,450	3,380,424	3,376,282
Gas Operating Revenues [Member]
Utility operating revenues:
Total utility operating revenues	$ 13,664,830	$ 11,456,522	$ 21,377,480	$ 17,878,671
Costs of sales:
Total cost of sales	5,282,955	3,479,745	7,867,705	4,749,427
Electric Service [Member]
Utility operating revenues:
Total utility operating revenues	3,299,904	1,766,517	6,065,527	3,663,766
Costs of sales:
Total cost of sales	$ 1,564,315	$ 361,086	$ 2,618,067	$ 1,154,167

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net income	$ 2,468,546	$ 2,330,067	$ 2,932,839	$ 2,513,241
Other comprehensive (loss):
Net unrealized loss on debt securities available for sale net of tax of $(322), ($2,503), $(348) and ($3,559), respectively	(848)	(6,600)	(917)	(10,075)
Total comprehensive income	$ 2,467,698	$ 2,323,467	$ 2,931,922	$ 2,503,166

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net unrealized gain (loss) on securities available for sale, tax	$ (322)	$ (2,503)	$ (348)	$ (3,559)

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, 2020	$ 30,725	$ 28,144,702	$ 7,747,197	$ 10,891	$ 35,933,515
Beginning Balance shares at Sep. 30, 2020	3,072,547
Issuance of common stock	$ 45	34,939			34,984
Issuance of common stock, shares	4,500
Stock based compensation	$ 66	91,846			91,912
Stock based compensation, shares	6,530
Dividends declared on common			(939,795)		(939,795)
Dividends declared on Preferred B shares			(122,132)		(122,132)
Comprehensive income:
Change in unrealized gain on debt securities available for sale, net of income taxes				(10,075)	(10,075)
Net income			2,513,241		2,513,241
Ending Balance at Mar. 31, 2021	$ 30,836	28,271,487	9,198,511	816	37,501,650
Ending Balance, shares at Mar. 31, 2021	3,083,577
Beginning Balance at Dec. 31, 2020	$ 30,836	28,241,620	7,399,408	7,416	35,679,280
Beginning Balance shares at Dec. 31, 2020	3,083,577
Stock based compensation		29,867			29,867
Dividends declared on common			(469,898)		(469,898)
Dividends declared on Preferred B shares			(61,066)		(61,066)
Comprehensive income:
Change in unrealized gain on debt securities available for sale, net of income taxes				(6,600)	(6,600)
Net income			2,330,067		2,330,067
Ending Balance at Mar. 31, 2021	$ 30,836	28,271,487	9,198,511	816	37,501,650
Ending Balance, shares at Mar. 31, 2021	3,083,577
Beginning Balance at Sep. 30, 2021	$ 30,836	28,292,551	7,148,246	917	$ 35,472,550
Beginning Balance shares at Sep. 30, 2021	3,083,577				3,083,577
Dividends declared on common			(939,796)		$ (939,796)
Dividends declared on Preferred B shares			(122,132)		(122,132)
Comprehensive income:
Change in unrealized gain on debt securities available for sale, net of income taxes				(917)	(917)
Net income			2,932,839		2,932,839
Ending Balance at Mar. 31, 2022	$ 30,836	28,292,551	9,019,157		$ 37,342,544
Ending Balance, shares at Mar. 31, 2022	3,083,577				3,083,577
Beginning Balance at Dec. 31, 2021	$ 30,836	28,292,551	7,081,575	848	$ 35,405,810
Beginning Balance shares at Dec. 31, 2021	3,083,577
Dividends declared on common			(469,898)		(469,898)
Dividends declared on Preferred B shares			(61,066)		(61,066)
Comprehensive income:
Change in unrealized gain on debt securities available for sale, net of income taxes				(848)	(848)
Net income			2,468,546		2,468,546
Ending Balance at Mar. 31, 2022	$ 30,836	$ 28,292,551	$ 9,019,157		$ 37,342,544
Ending Balance, shares at Mar. 31, 2022	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		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared on common	$ 0.1525	$ 0.1525	$ 0.305	$ 0.305
Dividends declared on Preferred B shares	$ 0.25	$ 0.25	$ 0.50	$ 0.75

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 2,932,839	$ 2,513,241
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,792,747	1,728,208
Amortization of debt issuance cost	44,662	53,919
Non-cash pension expenses	470,714	706,071
Regulatory asset amortizations	254,016	293,311
Stock issued for services		75,056
Gain on sale of marketable securities	(244,122)	(175,222)
Unrealized loss (gain) on investments	235,085	(80,166)
Gain on forgiveness of debt		(65,491)
Deferred income taxes	957,011	1,144,105
Bad debt expense	181,502	143,533
Loss associated with joint venture	164,003	3,299
(Increase) decrease in:
Accounts receivable	(3,174,517)	(1,988,698)
Gas stored underground	887,529	501,729
Materials and supplies inventories	(1,433,935)	(210,857)
Prepaid expenses	(1,328,710)	(485,447)
Unrecovered gas and electric costs	(56,535)	431,721
Deferred regulatory costs	(151,583)	(1,056,308)
Other	17,580	17,339
Increase (decrease) in:
Accounts payable	2,170,105	1,416,502
Accrued expenses	69,956	6,552
Customer deposits and accrued interest	(525,775)	(605,131)
Deferred compensation	(89,502)	(101,977)
Deferred pension costs & post-retirement benefits	160,910	(641,481)
Other liabilities and deferred credits	(294,439)	29,591
Net cash provided by operating activities	3,039,541	3,653,399
Cash flows from investing activities:
Sale of securities, net of purchases	160,972	172,540
Amount received from related parties		9,032
Proceeds from sale of interest in joint venture	100,000
Capital expenditures	(6,274,664)	(4,395,506)
Net cash used in investing activities	(6,013,692)	(4,213,934)
Cash flows from financing activities:
Net proceeds on lines-of-credit and short-term debt	1,523,068	2,788,224
Debt issuance costs paid	(8,011)	(6,602)
Proceeds from issuance of Series D preferred stock	5,000,000
Dividends paid	(1,061,928)	(1,009,092)
Proceeds from demand loan	1,000,000
Repayment of demand loan	(500,000)
Proceeds under long-term debt	387,209	1,259,990
Repayment of long-term debt	(3,366,548)	(2,629,823)
Net cash provided by financing activities	2,973,790	402,697
Net decrease in cash and cash equivalents	(361)	(157,838)
Cash and cash equivalents at beginning of period	333,846	411,700
Cash and cash equivalents at end of period	333,485	253,862
Cash paid during the period for:
Interest	1,275,128	1,078,781
Income taxes
Non-cash financing activities:
Dividends paid with shares		$ 51,840
Number of shares issued for dividends		3,380

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2022
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”). Until December 31, 2021, the Holding Company also owned 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 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 Corning Incorporated and 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 4,900 customers in the Townships of Westfall, Milford, the northern part of Dingman, and in the Boroughs of Milford and Matamoras. Pike provides natural gas service to 1,300 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. 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; (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. 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. The Merger was voted on and approved by the Company’s shareholders at its annual shareholder meeting on May 27, 2021. On February 3, 2022, the PAPUC approved the Merger. A decision on the Merger from the NYPSC is expected by the end of the Company’s third quarter (See Note 9 - Regulatory Matters). 14 Table of Contents 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. 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 Securities and Exchange Commission rules and regulations, although the Holding Company believes the disclosures which are made are adequate to make the information presented not misleading. 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, 2021 (“Annual Report”), filed on December 17, 2021. 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 or period presentation. 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	6 Months Ended
	Mar. 31, 2022
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 six months ended March 31, 2022 and 2021, 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. 15 Table of Contents For the three months ended March 31, 2022 Revenues from contracts with Other revenues Total utility customers (a) operating revenues Corning Gas: Residential gas $ 7,830,728 $ 225,527 $ 8,056,255 Commercial gas 1,213,670 — 1,213,670 Transportation 1,577,449 (26,373 ) 1,551,076 Street lights gas 188 — 188 Wholesale 1,074,174 — 1,074,174 Local production 73,279 — 73,279 Total Corning Gas 11,769,488 199,154 11,968,642 Pike: Residential gas 826,364 1,444 827,808 Commercial gas 207,140 — 207,140 Total Pike retail gas 1,033,504 1,444 1,034,948 Residential electric 1,720,572 (110,435 ) 1,610,137 Commercial electric 1,644,976 — 1,644,976 Electric – street lights 44,791 — 44,791 Total Pike retail electric 3,410,339 (110,435 ) 3,299,904 Total Pike 4,443,843 (108,991 ) 4,334,852 Leatherstocking Gas Residential gas 219,510 — 219,510 Commercial gas 218,554 — 218,554 Industrial sales 223,176 — 223,176 Total Leatherstocking Gas 661,240 — 661,240 Total consolidated utility operating revenue $ 16,874,571 $ 90,163 $ 16,964,734 (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. 16 Table of Contents For the six months ended March 31, 2022 Revenues from contracts with Other revenues Total utility customers (a) operating revenues Corning Gas: Residential gas $ 11,944,852 $ 285,510 $ 12,230,362 Commercial gas 1,821,213 — 1,821,213 Transportation 2,757,842 (3,233 ) 2,754,609 Street lights gas 324 — 324 Wholesale 1,778,374 — 1,778,374 Local production 142,344 — 142,344 Total Corning Gas 18,444,949 282,277 18,727,226 Pike: Residential gas 1,280,852 1,448 1,282,300 Commercial gas 333,762 — 333,762 Total Pike retail gas 1,614,614 1,448 1,616,062 Residential electric 2,995,340 8,391 3,003,731 Commercial electric 2,976,152 — 2,976,152 Electric – street lights 85,644 — 85,644 Total Pike retail electric 6,057,136 8,391 6,065,527 Total Pike 7,671,750 9,839 7,681,589 Leatherstocking Gas Residential gas 338,653 — 338,653 Commercial gas 334,547 — 334,547 Industrial sales 360,992 — 360,992 Total Leatherstocking Gas 1,034,192 — 1,034,192 Total consolidated utility operating revenue $ 27,150,891 $ 292,116 $ 27,443,007 (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 March 31, 2021 Revenues from contracts with Other revenues Total utility customers (a) operating revenues Corning Gas: Residential gas $ 6,415,249 $ 403,626 $ 6,818,875 Commercial gas 909,624 — 909,624 Transportation 1,540,820 (159,888 ) 1,380,932 Street lights gas 98 — 98 Wholesale 753,953 — 753,953 Local production 178,881 — 178,881 Total Corning Gas 9,798,625 243,738 10,042,363 Pike: Residential gas 695,057 2,276 697,333 Commercial gas 184,193 — 184,193 Total Pike retail gas 879,250 2,276 881,526 Residential electric 944,659 54,693 999,352 Commercial electric 736,310 — 736,310 Electric – street lights 30,855 — 30,855 Total Pike retail electric 1,711,824 54,693 1,766,517 Total Pike 2,591,074 56,969 2,648,043 Leatherstocking Gas Residential gas 175,502 — 175,502 Commercial gas 167,642 — 167,642 Industrial sales 189,489 — 189,489 Total Leatherstocking Gas 532,633 — 532,633 Total consolidated utility operating revenue $ 12,922,332 $ 300,707 $ 13,223,039 (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. For the six months ended March 31, 2021 Revenues from contracts with Other revenues Total utility customers (a) operating revenues Corning Gas: Residential gas $ 9,808,972 $ 290,594 $ 10,099,566 Commercial gas 1,288,591 — 1,288,591 Transportation 2,668,794 (108,460 ) 2,560,334 Street lights gas 191 — 191 Wholesale 1,236,822 — 1,236,822 Local production 354,486 — 354,486 Total Corning Gas 15,357,856 182,134 15,539,990 Pike: Residential gas 1,108,931 (2,870 ) 1,106,061 Commercial gas 295,643 — 295,643 Total Pike retail gas 1,404,574 (2,870 ) 1,401,704 Residential electric 1,922,578 53,483 1,976,061 Commercial electric 1,624,244 — 1,624,244 Electric – street lights 63,461 — 63,461 Total Pike retail electric 3,610,283 53,483 3,663,766 Total Pike 5,014,857 50,613 5,065,470 Leatherstocking Gas Residential gas 314,334 — 314,334 Commercial gas 284,670 — 284,670 Industrial sales 337,973 — 337,973 Total Leatherstocking Gas 936,977 — 936,977 Total consolidated utility operating revenue $ 21,309,690 $ 232,747 $ 21,542,437 (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. 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 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	6 Months Ended
	Mar. 31, 2022
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 March 31, Six Months Ended March 31, 2022 2021 2022 2021 Service Cost $ 220,073 $ 198,622 $ 440,146 $ 397,245 Interest Cost 241,252 240,958 482,503 481,917 Expected return on plan assets (339,249 ) (361,415 ) (678,498 ) (722,829 ) Amortization of net actuarial gain 174,863 244,157 349,726 488,313 Net periodic benefit cost $ 296,939 $ 322,322 $ 593,877 $ 644,646 Other Benefits Three Months Ended March 31, Six Months Ended March 31, 2022 2021 2022 2021 Service Cost $ 5,807 $ 4,740 $ 11,614 $ 9,479 Interest Cost 8,012 6,973 16,024 13,946 Amortization of prior service cost 3,809 3,809 7,619 7,619 Amortization of net actuarial gain 994 420 1,987 841 Net periodic benefit cost $ 18,622 $ 15,942 $ 37,244 $ 31,885 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 $124,517 for the three months ended March 31, 2022 and $218,683 for the three months ended March 31, 2021. Pension expense for ratemaking and financial statement purposes was $310,570 for the six months ended March 31, 2022 and $437,366 for the six months ended March 31, 2021. 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 $579,191 and $1,432,750 at March 31, 2022 and September 30, 2021, 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 (benefit) (OPEB) for ratemaking and financial statement purposes was $12,185 for the three months ended March 31, 2022 and $14,680 for the three months ended March 31, 2021. Other post-retirement benefit expense (benefit) for ratemaking and financial statement purposes was $25,360 for the six months ended March 31, 2022 and $29,360 for the six months ended March 31, 2021. The difference between the other post-retirement benefit expense (benefit) for ratemaking and financial statement purposes, and the amount computed above has been deferred as a regulatory asset. Contributions The Gas Company expects to contribute $610,968 to its Pension Plan during the fiscal year ending September 30, 2022. A total of $0 was paid to the Pension Plan during the six months ending March 31, 2022 and $0 during the three months ended March 31, 2022. A total of $511,266 was paid to the Pension Plan during the six months ending March 31, 2021 and $255,633 during the three months ended March 31, 2021.

Financing Activities

Financing Activities	6 Months Ended
	Mar. 31, 2022
Financing Activities [Abstract]
Financing Activities	Note 4 – Financing Activities On December 17, 2021, Corning Gas increased from $8.0 million to $8.5 million its revolving line of credit from M&T Bank. Corning Gas will use its increased line of credit for working capital purposes. The line of credit bears interest at a variable rate equal to (a) the applicable daily simple secured overnight financing rate (“SOFR”) or (b) 0.50% plus an interest rate spread ranging from 1.7% to 2.6% depending on the Company’s funded debt to leveraged EBITDA ratio. The line of credit is due and payable upon demand by M&T Bank. The loan balance at March 31, 2022 and September 30, 2021 was $6,114,346 and $4,657,812 respectively. On October 5, 2021, Leatherstocking Gas renegotiated two long term loans with Wayne Bank that were issued in 2019 in the amount of $6 million and $650,000 respectively. The original loans had a fixed interest rate of 4.75% with an interest rate redetermination to occur on March 11, 2024. The new interest rate was scheduled to be equal to 2.25% in excess of the 5-year Treasury Yield Curve Rate. The renegotiated loans have a fixed interest rate of 4.75% for the remaining terms of the loans. The principal balances of the loans on the date of renegotiation were $4,751,146, and $501,565 respectively. The Holding Company guarantees these loans. The loan balance at March 31, 2022 and September 30, 2021 was $4,956,185 and $5,252,712 respectively. On December 13, 2021, Leatherstocking Gas converted its multiple draw construction loan with Wayne Bank into a ten-year term loan in the amount of $800,000, at a fixed interest rate of 4.75%. The note matures on December 13, 2031. The balance at March 31, 2022 and September 30, 2021 was $779,030 and $653,934 respectively. 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 permitted 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 converted to a ten-year term loan, with the final installment of unpaid principal and interest due on October 31, 2031. Interest on the note is a variable rate of 2.9% plus the one-month LIBOR rate. In connection with the loan, Corning Gas entered into a fifth amended replacement and restated credit agreement with M&T Bank. The balance at March 31, 2022 and September 30, 2021 was $4,498,765 and $4,665,000 respectively. 20 Table of Contents On August 19, 2021, Pike entered into a $2.21 million multiple disbursement term loan with M&T Bank for capital expenditures and pipeline repairs which permitted draws from time to time until October 31, 2021, at which time amounts outstanding under the loan converted to a ten-year term, loan with the final installment of unpaid principal and interest due on October 31, 2031. The Note bears interest at a variable rate equal to 2.9% plus the one-month LIBOR rate. In connection with the loan, Pike entered into a fifth amended replacement and restated credit agreement with M&T Bank (the “ Credit Agreement We are in compliance with our financial covenant calculations as of March 31, 2022.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Mar. 31, 2022
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. 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 March 31, 2022 and September 30, 2021 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 March 31, 2022 Available-for-sale securities $ 2,184,478 $ 2,184,478 $ — $ — September 30, 2021 Available-for-sale securities $ 2,337,330 $ 2,337,330 $ — $ — 21 Table of Contents A summary of the marketable securities at March 31, 2022 and September 30, 2021 is as follows: Cost Basis Unrealized Gain Unrealized Loss Market Value March 31, 2022 Cash and equivalents $ 25,059 $ — $ — $ 25,059 Metlife stock value 52,391 6,124 — 58,515 Holding Company Preferred A Stock 572,875 22,915 — 595,790 Equity and debt securities 1,367,308 137,806 — 1,505,114 Total securities $ 2,107,633 $ 166,845 $ — $ 2,184,478 September 30, 2021 Cash and equivalents $ 148,327 $ — $ — $ 148,327 Metlife stock value 53,855 — (2,496 ) 51,359 Government and agency bonds 15,072 1,243 — 16,315 Holding Company Preferred A Stock 572,875 25,207 — 598,082 Equity and debt securities 1,122,826 367,741 — 1,490,567 Commodities 33,420 — (740 ) 32,680 Total securities $ 1,946,375 $ 394,191 $ (3,236 ) $ 2,337,330 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. Realized gains included in earnings for the periods reported in investment income are as follows: Investment Income Three Months Ended March 31, Six Months Ended March 31, 2022 2021 2022 2021 Net realized gains recognized during the period on investments $ 222,358 $ 148,758 $ 244,122 $ 175,222 Unrealized (losses) on equity securities included in investment income for the three and six months ended March 31, 2022 were ($307,237) and ($235,085), respectively. Unrealized (losses)/gains on equity securities included in investment income for the three and six months ended March 31, 2021 were ($34,092) and $80,166, respectively. In January of 2022, $180,420 of cash was paid as non-qualified deferred compensation to retired employees. 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	6 Months Ended
	Mar. 31, 2022
Shareholders' Equity Note [Abstract]
Stockholders' Equity and Preferred Stock	Note 6 – Stockholders’ Equity and Preferred Stock There were no shares issued during the three and six months ended March 31, 2022. Shares issued during the three and six month ended March 31, 2021 were for the following: Three months ended March 31, 2021 Six months ended March 31, 2021 Shares Amount Shares Amount Dividend reinvestment program (DRIP) — — 3,380 $ 51,749 Directors — — 3,150 40,163 Leatherstocking Gas Company — — 4,500 34,984 Total — — 11,030 $ 126,896 Shares issued to Leatherstocking Gas were used to compensate its independent director, Carl Hayden. For the three months ended September 30, 2021, dividends were paid on October 15, 2021 to stockholders of record on September 30, 2021 in the amount of $469,898. As of March 31, 2022, $469,898 was accrued for dividends paid on April 15, 2022 to stockholders of record on March 31, 2022. There was no stock option activity during the three and six months ended March 31, 2022. The following table details options outstanding as of March 31, 2022. Weighted Weighted Average Number of Average Remaining Life Options Exercise Price (years) Outstanding at September 30, 2021 20,000 $ 19.75 9.45 Granted — — — Exercised — — — Expired or forfeited — — — Outstanding at March 31, 2022 20,000 $ 19.75 8.95 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 March 31, 2022 and 2021 were $97,725 and $78,975, respectively. The dividends for the six months ended March 31, 2022 and 2021 were $195,450 and $195,450, respectively. These dividends are recorded as interest expense. The amortization of the Series A Preferred Stock debt issuance costs for the six months ended March 31, 2022 and 2021 was $5,075 and $10,365, respectively. The amortization of the Series A Preferred Stock debt issuance costs for the three months ended March 31, 2022 and 2021 was $2,538 and $5,182, respectively. 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, 2021 there was $61,066 accrued for Series B dividends paid on October 15, 2021. As of March 31, 2022, $61,066 was accrued for dividends paid on April 15, 2022. 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 March 31, 2022 and 2021 were $67,500 and $67,500, respectively. The dividends for the six months ended March 31, 2022 and 2021 were $135,000 and $135,000, respectively. These dividends are recorded as interest expense. The amortization of the Series C Preferred Stock debt issuance costs for the six months ended March 31, 2022 and 2021 was $124 and $124, respectively. The amortization of the Series C Preferred Stock debt issuance costs for the three months ended March 31, 2022 and 2021 was $62 and $62, respectively. On December 3, 2021, the Holding Company amended its certificate of incorporation (“Certificate of Amendment”) to authorize the issuance of 5,000 shares of 1.5% Series D Cumulative redeemable Preferred Stock, par value of $0.01 per share (“Series D Preferred Stock”). The Certificate of Amendment provides for certain redemption requirements and rights. On December 8, 2026, Holding Company must redeem all of the outstanding shares of Series D Preferred Stock at a redemption price equal to $1,000 per share, plus an amount equal to all accrued but unpaid dividends, if any, whether or not declared. Upon the earlier to occur of (i) the termination of the Company’s merger agreement with Argo, and December 31, 2022, for one year thereafter, any holder of Series D Preferred Stock may elect to require the Holding Company to redeem all of the Series D Preferred Shares held by that holder for an amount equal to $1,000 per share, plus an amount equal to all accrued but unpaid dividends, if any, whether or not declared. On December 8, 2021, Holding Company issued 5,000 shares of its newly authorized Series D Preferred Stock to ACP Crotona Corp., for $1,000 per share, or $5 million. The dividends for the three months ended March 31, 2022 and 2021 were $18,750 and $-, respectively. The dividends for the six months ended March 31, 2022 and 2021 were $23,641 and $-, respectively. These dividends are recorded as interest expense. As previously disclosed, on January 12, 2021, the Company entered into an agreement and plan or merger by and among the Company and, among others, ACP Crotona Corp., an Argo affiliate. The Company used the funds raised for general working capital and to fund service expansion projects and capital replacement projects at each of its utilities. The issuance of the Series D Preferred Stock was a private placement to an accredited investor exempt from registration under Section 4(a)(2) of the Securities Act of 1933. 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.

Investment in Joint Ventures

Investment in Joint Ventures	6 Months Ended
	Mar. 31, 2022
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 $0.532 million. These assets were then contributed to the equity of Leatherstocking Gas Company of New York, Inc. (“Leatherstocking NY”). The Company owned 50% of the common shares of the newly formed Leatherstocking NY and accounted for this investment using the equity method of accounting. Mirabito had 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. On October 5, 2021, Mirabito notified the Company that it exercised its option to acquire the Company’s interest in Leatherstocking NY, and on December 31, 2021, the Company completed the sale of Leatherstocking NY for the $100,000 option price, plus Mirabito’s share of accounts payable. The Company recorded a pre-tax loss of $164,003 on the sale transaction. The following table represents the Holding Company’s investment activity in the Leatherstocking joint ventures for the six months ended March 31, 2022 and 2021: 2022 2021 Beginning balance in investment in joint ventures $ 261,180 $ 264,640 Proceeds from sale of interest in joint ventures (100,000 ) — Loss on sale of interest in joint ventures (164,003 ) — Accounts payable due 2,823 — Cost adjustment — 4,214 Loss from joint ventures — (7,513 ) Ending balance in joint ventures $ — $ 261,341 As of and for the six months ended March 31, 2022 and 2021, the Joint Ventures financial summary is as follows: 2022 2021 Total assets $ — $ 528,000 Total liabilities $ — $ 5,000 Net (loss) income $ — $ (8,000 )

Income Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 – Income Taxes Income tax expense for the periods ended March 31 are as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Current $ — $ — $ — $ — Deferred 704,701 988,418 957,011 1,144,105 Total $ 704,701 $ 988,418 $ 957,011 $ 1,144,105 Actual income tax expense for the three and six months ended March 31, 2022 and 2021 is greater than tax calculated at the statutory rate (21%) due to state income taxes and non-tax deductible dividends on Class A, Class C, and during the three and six months ending March 31, 2022, Class D preferred stock that are recorded as interest expense and included in pre-tax income, reduced in fiscal year 2021 by non-taxable PPP loan forgiveness at Leatherstocking.

Regulatory Matters

Regulatory Matters	6 Months Ended
	Mar. 31, 2022
Regulated Operations [Abstract]
Regulatory Matters	Note 9 – Regulatory Matters On May 19, 2021, the NYPSC issued a rate order in Case 21-G-0101, establishing rates and a rate plan for the Gas Company for a one-year period ending on January 31,2022 (“Rate Year”). The rate order disallowed the Company’s request for an increase in required revenue of $6,223,603, 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. In addition, the NYPSC denied recovery of the Gas Company’s approximately $350,000 leak repair and survey cost reserve established in FY 2016. The denial of recovery of this reserve resulted in a FY 2021 charge of approximately $180,000 (pre-tax), as the Company had previously established a reserve for this matter in the amount of $170,000 (pre-tax). 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 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 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 service. The Gas 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 and 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 pending judicial review. 24 Table of Contents On July 16, 2021, the Gas Company filed a three-year rate plan (Case 21-G-0394) with the NYPSC for rate years ending on June 30, 2023, 2024, and 2025. The rate increases requested for the three-year rate plan (as amended) are $6,555,000, $1,030,000, and $843,000, respectively. In its filing, the Gas Company proposes a rate plan with levelized increases over three years in the amount of $3,761,000 per year. These rates, if implemented, would impact customer bills by 11.14% in each year. In March of 2021, the NYPSC issued a “Show Cause” order instructing Corning Gas to show cause why its Paycheck Protection Program loan in the amount of $970,000 should not be refunded to its customers if and when the loan is forgiven. On May 13, 2021, the Gas Company responded to the “Show Cause” order supporting its position that it will use the PPP loan proceeds to fund COVID operating costs, lost commercial revenues, and customer bad debt increases. On May 21, 2021, the Corning Gas PPP loan was forgiven. This matter is pending with the NYPSC. The Gas Company and Staff, in its joint proposal to settle its 2021 Rate Case and its Merger Case, propose to resolve this issue by requiring the Company to refund approximately $480,000 of the PPP loan forgiveness to customers over a five-year period starting in the Rate Year beginning on July 1, 2022. If approved by the NYPSC this refund will have no impact on earnings. By petition dated September 3, 2020 in Case 20-G-0442, Corning Gas requested authority under Public Service Law Section 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 Gas Company to issue long term debt in the amount of $19.1 million, along with certain reporting requirements. On March 14, 2022, the Company, Argo, and Staff entered into a Joint Proposal (“Joint Proposal”) which was filed with the NYPSC on that date and subsequently revised and filed on March 17, 2022. In addition, four other parties also participated in the settlement negotiations. Two of the four parties oppose certain Rate Case provisions. If adopted by the NYPSC, the Joint Proposal would resolve all of the issues presented in both Case 21-G-0394 (“Rate Case”), and Case 21-G-0260 (“Merger Case”). At the core of the Joint Proposal is a comprehensive settlement commencing July 1, 2022 and extending for three consecutive Rate Years (the 12 months ending June 30, 2023, 2024, and 2025). If approved, the Joint Proposal would permit the Company to increase gas revenues by levelized amounts of $1,706,870 for Rate Year 1, $1,798,620 for Rate Year 2, and $1,740,870 for Rate Year 3. These increases equate to revenue increases of 5.5%, 5.5%, and 5.1%, respectively. The rate of return on common equity (“ROE”) endorsed by the Joint Proposal is 9.25%. The Joint Proposal includes an updated Earnings Sharing Mechanism that provides for the Company to retain all earnings up to and including a ROE of 9.75%, and a sharing with customers of earnings in excess of 9.75%. The Joint Proposal contains several performance targets and requirements to develop new programs, including customer service programs, a Strategic Plan for Decarbonization, and a Low Income Program that uses a three-tiered approach to providing credits based on NYPSC recognition of varying levels of need that correlate with Home Energy Assistance Program (“HEAP”) benefits. The Joint Proposal recommends that the NYPSC approve the Argo Merger as being in the public interest. Among the most significant features of the Joint Proposal as it pertains to the Merger are the following provisions. The Joint Proposal requires the Company’s Board of Directors to have at least one independent local board member who resides within the Company’s gas service territory or has substantial ties to the service territory. The Company’s headquarters must remain within the gas service territory for a minimum of five years following closing of the Merger. The Company must maintain pre-merger employment levels, and to provide pre-merger employee compensation and benefits for at least 12 months. The Joint Proposal prohibits the pass-through to customers of goodwill and costs of the transaction. The Joint Proposal further proposes several financial metrics designed to maintain financial integrity of the Company. The Joint Proposal recognizes the substantial quantifiable benefits that the Company’s customers will receive as a result of the Merger. These benefits, in the form of the elimination of certain public company expenses, total approximately $300,000 per year. In addition, the Joint Proposal incorporates a Public Benefit Adjustment (“PBA”) in the amount of $1.2 million. Customers will receive the PBA in the amount of $400,000 in each of the three Rate Years covered by the Rate Case, of which $70,000 will be used to enhance the Company’s Low-Income Program. The Joint Proposal is currently under review by the Administrative Law Judge assigned to this case, after which it will be referred to the NYPSC for a final determination. The Company expects a decision by the NYPSC in June of 2022. 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. On February 3, 2022, the PAPUC approved the Merger Agreement with Argo and the accompanying Settlement Agreement. In the Settlement Agreement, the Company agreed not to seek a general base rate increase prior to October 1, 2023. Further, the Company agreed to maintain current staffing levels for at least one year after the merger date, and to maintain its community involvement and charitable contributions at pre acquisition levels for at least three post-closing years. The Company also agreed to a one-time bill credit to customers at varying amounts, depending on customer class. The total amount of customer credits is approximately $50,000. Pike agreed to undertake a study of the feasibility of interconnecting with PJM Interconnection LLC, and the Company agreed to seek alternate natural gas suppliers.

Segment Reporting

Segment Reporting	6 Months Ended
	Mar. 31, 2022
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. 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, until December 31, 2021, had 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 March 31, 2022 Leatherstocking Holding Total Gas Company Pike Companies Company Consolidated Total electric utility revenue $ — $ 3,299,904 $ — $ — $ 3,299,904 Total gas utility revenue $ 11,968,642 $ 1,034,948 $ 661,240 $ — $ 13,664,830 Investment expense $ (80,206 ) $ — $ — $ — $ (80,206 ) Net income (loss) $ 2,291,206 $ 493,986 $ 3,483 $ (320,129 ) $ 2,468,546 Income tax expense (benefit) $ 729,436 $ (10,916 ) $ (2,790 ) $ (11,029 ) $ 704,701 Interest expense $ 429,635 $ 159,767 $ 77,958 $ 195,981 $ 863,341 Depreciation expense $ 556,986 $ 200,624 $ 188,382 $ 915 $ 946,907 Amortization expense $ 58,800 $ 108,781 $ 3,042 $ 12,006 $ 182,629 Total assets $ 104,518,457 $ 34,755,445 $ 13,120,009 $ 519,272 $ 152,913,183 Capital expenditures $ 2,003,105 $ 1,115,639 $ 227,128 $ — $ 3,345,872 As of and for the three months ended March 31, 2021 Leatherstocking Holding Total Gas Company Pike Companies Company Consolidated Total electric utility revenue $ — $ 1,766,517 $ — $ — $ 1,766,517 Total gas utility revenue $ 10,042,363 $ 881,526 $ 532,633 $ — $ 11,456,522 Investment income $ 125,786 $ — $ — $ 27 $ 125,813 Loss associated with joint venture $ — $ — $ — $ (5,812 ) $ (5,812 ) Net income (loss) $ 2,525,227 $ 203,341 $ 85,653 $ (484,154 ) $ 2,330,067 Income tax expense (benefit) $ 958,237 $ 93,975 $ 11,445 $ (75,239 ) $ 988,418 Interest expense $ 331,551 $ 155,676 $ 80,744 $ 177,231 $ 745,202 Depreciation expense $ 497,773 $ 242,506 $ 117,575 $ 915 $ 858,769 Amortization expense $ 72,631 $ 76,923 $ 3,042 $ 12,006 $ 164,602 Total assets $ 97,597,465 $ 30,470,901 $ 12,687,482 $ 725,434 $ 141,481,282 Capital expenditures $ 1,160,738 $ 594,825 $ 261,437 $ — $ 2,017,000 26 Table of Contents As of and for the six months ended March 31, 2022 Leatherstocking Holding Total Gas Company Pike Companies Company Consolidated Total electric utility revenue $ — $ 6,065,527 $ — $ — $ 6,065,527 Total gas utility revenue $ 18,727,226 $ 1,616,062 $ 1,034,192 $ — $ 21,377,480 Investment income $ 28,293 $ — $ — $ — $ 28,293 Loss associated with joint venture $ — $ — $ — $ (164,003 ) $ (164,003 ) Net income (loss) $ 2,847,812 $ 912,999 $ (63,953 ) $ (764,019 ) $ 2,932,839 Income tax expense (benefit) $ 921,529 $ 164,831 $ (24,784 ) $ (104,565 ) $ 957,011 Interest expense $ 854,137 $ 325,948 $ 162,208 $ 378,103 $ 1,720,396 Depreciation expense $ 1,057,937 $ 414,736 $ 318,244 $ 1,830 $ 1,792,747 Amortization expense $ 117,600 $ 217,562 $ 6,084 $ 24,012 $ 365,258 Total assets $ 104,518,457 $ 34,755,445 $ 13,120,009 $ 519,272 $ 152,913,183 Capital expenditures $ 4,201,863 $ 1,686,538 $ 386,263 $ — $ 6,274,664 As of and for the six months ended March 31, 2021 Leatherstocking Holding Total Gas Company Pike Companies Company Consolidated Total electric utility revenue $ — $ 3,663,766 $ — $ — $ 3,663,766 Total gas utility revenue $ 15,539,990 $ 1,401,704 $ 936,977 $ — $ 17,878,671 Investment income $ 269,495 $ — $ — $ 44 $ 269,539 Loss associated with joint venture $ — $ — $ — $ (7,513 ) $ (7,513 ) Net income (loss) $ 3,083,867 $ 96,751 $ 48,013 $ (715,390 ) $ 2,513,241 Income tax expense (benefit) $ 1,201,132 $ 52,837 $ (12,653 ) $ (97,211 ) $ 1,144,105 Interest expense $ 667,336 $ 313,195 $ 155,654 $ 354,462 $ 1,490,647 Depreciation expense $ 990,335 $ 471,283 $ 264,761 $ 1,830 $ 1,728,209 Amortization expense $ 131,431 $ 185,704 $ 6,084 $ 24,012 $ 347,231 Total assets $ 97,597,465 $ 30,470,901 $ 12,687,482 $ 725,434 $ 141,481,282 Capital expenditures $ 2,508,577 $ 1,524,684 $ 362,245 $ — $ 4,395,506

Subsequent Events

Subsequent Events	6 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 11 – Subsequent Events On May 11, 2022, Corning Gas and Pike entered into separate loan agreements with M & T Bank. Corning Gas increased its demand line of credit with M & T Bank from $8.5 million to $10 million. The line of credit has a variable interest rate of 1-Month SOFR with a .50% interest rate floor, plus a variable interest rate based on the ratio of funded debt to EBITDA. The current variable rate is 3.10%. The loan proceeds will be used to fund working capital. M & T Bank holds a first security interest in all of Corning Gas’ non real estate and non liquid assets. Also on May 11, 2022, Pike increased its demand line of credit with M & T Bank from $2 million to $2.5 million. The line of credit has a variable interest rate of 1-Month SOFR with a .50% interest rate floor, plus a variable interest rate based on the ratio of funded debt to EBITDA. The current variable rate is 3.10%. The loan proceeds will be used to fund working capital. M & T Bank holds a first security interest in all of Pike’s non real estate assets. The Holding Company guarantees these loans.

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	6 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of contracts with customers	The following tables present, for the three and six months ended March 31, 2022 and 2021, 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. 15 Table of Contents For the three months ended March 31, 2022 Revenues from contracts with Other revenues Total utility customers (a) operating revenues Corning Gas: Residential gas $ 7,830,728 $ 225,527 $ 8,056,255 Commercial gas 1,213,670 — 1,213,670 Transportation 1,577,449 (26,373 ) 1,551,076 Street lights gas 188 — 188 Wholesale 1,074,174 — 1,074,174 Local production 73,279 — 73,279 Total Corning Gas 11,769,488 199,154 11,968,642 Pike: Residential gas 826,364 1,444 827,808 Commercial gas 207,140 — 207,140 Total Pike retail gas 1,033,504 1,444 1,034,948 Residential electric 1,720,572 (110,435 ) 1,610,137 Commercial electric 1,644,976 — 1,644,976 Electric – street lights 44,791 — 44,791 Total Pike retail electric 3,410,339 (110,435 ) 3,299,904 Total Pike 4,443,843 (108,991 ) 4,334,852 Leatherstocking Gas Residential gas 219,510 — 219,510 Commercial gas 218,554 — 218,554 Industrial sales 223,176 — 223,176 Total Leatherstocking Gas 661,240 — 661,240 Total consolidated utility operating revenue $ 16,874,571 $ 90,163 $ 16,964,734 (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. 16 Table of Contents For the six months ended March 31, 2022 Revenues from contracts with Other revenues Total utility customers (a) operating revenues Corning Gas: Residential gas $ 11,944,852 $ 285,510 $ 12,230,362 Commercial gas 1,821,213 — 1,821,213 Transportation 2,757,842 (3,233 ) 2,754,609 Street lights gas 324 — 324 Wholesale 1,778,374 — 1,778,374 Local production 142,344 — 142,344 Total Corning Gas 18,444,949 282,277 18,727,226 Pike: Residential gas 1,280,852 1,448 1,282,300 Commercial gas 333,762 — 333,762 Total Pike retail gas 1,614,614 1,448 1,616,062 Residential electric 2,995,340 8,391 3,003,731 Commercial electric 2,976,152 — 2,976,152 Electric – street lights 85,644 — 85,644 Total Pike retail electric 6,057,136 8,391 6,065,527 Total Pike 7,671,750 9,839 7,681,589 Leatherstocking Gas Residential gas 338,653 — 338,653 Commercial gas 334,547 — 334,547 Industrial sales 360,992 — 360,992 Total Leatherstocking Gas 1,034,192 — 1,034,192 Total consolidated utility operating revenue $ 27,150,891 $ 292,116 $ 27,443,007 (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 March 31, 2021 Revenues from contracts with Other revenues Total utility customers (a) operating revenues Corning Gas: Residential gas $ 6,415,249 $ 403,626 $ 6,818,875 Commercial gas 909,624 — 909,624 Transportation 1,540,820 (159,888 ) 1,380,932 Street lights gas 98 — 98 Wholesale 753,953 — 753,953 Local production 178,881 — 178,881 Total Corning Gas 9,798,625 243,738 10,042,363 Pike: Residential gas 695,057 2,276 697,333 Commercial gas 184,193 — 184,193 Total Pike retail gas 879,250 2,276 881,526 Residential electric 944,659 54,693 999,352 Commercial electric 736,310 — 736,310 Electric – street lights 30,855 — 30,855 Total Pike retail electric 1,711,824 54,693 1,766,517 Total Pike 2,591,074 56,969 2,648,043 Leatherstocking Gas Residential gas 175,502 — 175,502 Commercial gas 167,642 — 167,642 Industrial sales 189,489 — 189,489 Total Leatherstocking Gas 532,633 — 532,633 Total consolidated utility operating revenue $ 12,922,332 $ 300,707 $ 13,223,039 (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. For the six months ended March 31, 2021 Revenues from contracts with Other revenues Total utility customers (a) operating revenues Corning Gas: Residential gas $ 9,808,972 $ 290,594 $ 10,099,566 Commercial gas 1,288,591 — 1,288,591 Transportation 2,668,794 (108,460 ) 2,560,334 Street lights gas 191 — 191 Wholesale 1,236,822 — 1,236,822 Local production 354,486 — 354,486 Total Corning Gas 15,357,856 182,134 15,539,990 Pike: Residential gas 1,108,931 (2,870 ) 1,106,061 Commercial gas 295,643 — 295,643 Total Pike retail gas 1,404,574 (2,870 ) 1,401,704 Residential electric 1,922,578 53,483 1,976,061 Commercial electric 1,624,244 — 1,624,244 Electric – street lights 63,461 — 63,461 Total Pike retail electric 3,610,283 53,483 3,663,766 Total Pike 5,014,857 50,613 5,065,470 Leatherstocking Gas Residential gas 314,334 — 314,334 Commercial gas 284,670 — 284,670 Industrial sales 337,973 — 337,973 Total Leatherstocking Gas 936,977 — 936,977 Total consolidated utility operating revenue $ 21,309,690 $ 232,747 $ 21,542,437 (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.

Pension and Other Post-retire_2

Pension and Other Post-retirement Benefit Plans (Tables)	6 Months Ended
	Mar. 31, 2022
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 March 31, Six Months Ended March 31, 2022 2021 2022 2021 Service Cost $ 220,073 $ 198,622 $ 440,146 $ 397,245 Interest Cost 241,252 240,958 482,503 481,917 Expected return on plan assets (339,249 ) (361,415 ) (678,498 ) (722,829 ) Amortization of net actuarial gain 174,863 244,157 349,726 488,313 Net periodic benefit cost $ 296,939 $ 322,322 $ 593,877 $ 644,646 Other Benefits Three Months Ended March 31, Six Months Ended March 31, 2022 2021 2022 2021 Service Cost $ 5,807 $ 4,740 $ 11,614 $ 9,479 Interest Cost 8,012 6,973 16,024 13,946 Amortization of prior service cost 3,809 3,809 7,619 7,619 Amortization of net actuarial gain 994 420 1,987 841 Net periodic benefit cost $ 18,622 $ 15,942 $ 37,244 $ 31,885

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and September 30, 2021 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 March 31, 2022 Available-for-sale securities $ 2,184,478 $ 2,184,478 $ — $ — September 30, 2021 Available-for-sale securities $ 2,337,330 $ 2,337,330 $ — $ —
Summary of Marketable Securities	A summary of the marketable securities at March 31, 2022 and September 30, 2021 is as follows: Cost Basis Unrealized Gain Unrealized Loss Market Value March 31, 2022 Cash and equivalents $ 25,059 $ — $ — $ 25,059 Metlife stock value 52,391 6,124 — 58,515 Holding Company Preferred A Stock 572,875 22,915 — 595,790 Equity and debt securities 1,367,308 137,806 — 1,505,114 Total securities $ 2,107,633 $ 166,845 $ — $ 2,184,478 September 30, 2021 Cash and equivalents $ 148,327 $ — $ — $ 148,327 Metlife stock value 53,855 — (2,496 ) 51,359 Government and agency bonds 15,072 1,243 — 16,315 Holding Company Preferred A Stock 572,875 25,207 — 598,082 Equity and debt securities 1,122,826 367,741 — 1,490,567 Commodities 33,420 — (740 ) 32,680 Total securities $ 1,946,375 $ 394,191 $ (3,236 ) $ 2,337,330
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 March 31, Six Months Ended March 31, 2022 2021 2022 2021 Net realized gains recognized during the period on investments $ 222,358 $ 148,758 $ 244,122 $ 175,222

Stockholders' Equity and Pref_2

Stockholders' Equity and Preferred Stock (Tables)	6 Months Ended
	Mar. 31, 2022
Shareholders' Equity Note [Abstract]
Schedule of Common Stock Issued	There were no shares issued during the three and six months ended March 31, 2022. Shares issued during the three and six month ended March 31, 2021 were for the following: Three months ended March 31, 2021 Six months ended March 31, 2021 Shares Amount Shares Amount Dividend reinvestment program (DRIP) — — 3,380 $ 51,749 Directors — — 3,150 40,163 Leatherstocking Gas Company — — 4,500 34,984 Total — — 11,030 $ 126,896
Schedule of Stock Option Activity	Weighted Weighted Average Number of Average Remaining Life Options Exercise Price (years) Outstanding at September 30, 2021 20,000 $ 19.75 9.45 Granted — — — Exercised — — — Expired or forfeited — — — Outstanding at March 31, 2022 20,000 $ 19.75 8.95

Investment in Joint Venture (Ta

Investment in Joint Venture (Tables)	6 Months Ended
	Mar. 31, 2022
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 six months ended March 31, 2022 and 2021: 2022 2021 Beginning balance in investment in joint ventures $ 261,180 $ 264,640 Proceeds from sale of interest in joint ventures (100,000 ) — Loss on sale of interest in joint ventures (164,003 ) — Accounts payable due 2,823 — Cost adjustment — 4,214 Loss from joint ventures — (7,513 ) Ending balance in joint ventures $ — $ 261,341
Schedule of Joint Ventures Financial Summary	As of and for the six months ended March 31, 2022 and 2021, the Joint Ventures financial summary is as follows: 2022 2021 Total assets $ — $ 528,000 Total liabilities $ — $ 5,000 Net (loss) income $ — $ (8,000 )

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense	Income tax expense for the periods ended March 31 are as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Current $ — $ — $ — $ — Deferred 704,701 988,418 957,011 1,144,105 Total $ 704,701 $ 988,418 $ 957,011 $ 1,144,105

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Mar. 31, 2022
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 March 31, 2022 Leatherstocking Holding Total Gas Company Pike Companies Company Consolidated Total electric utility revenue $ — $ 3,299,904 $ — $ — $ 3,299,904 Total gas utility revenue $ 11,968,642 $ 1,034,948 $ 661,240 $ — $ 13,664,830 Investment expense $ (80,206 ) $ — $ — $ — $ (80,206 ) Net income (loss) $ 2,291,206 $ 493,986 $ 3,483 $ (320,129 ) $ 2,468,546 Income tax expense (benefit) $ 729,436 $ (10,916 ) $ (2,790 ) $ (11,029 ) $ 704,701 Interest expense $ 429,635 $ 159,767 $ 77,958 $ 195,981 $ 863,341 Depreciation expense $ 556,986 $ 200,624 $ 188,382 $ 915 $ 946,907 Amortization expense $ 58,800 $ 108,781 $ 3,042 $ 12,006 $ 182,629 Total assets $ 104,518,457 $ 34,755,445 $ 13,120,009 $ 519,272 $ 152,913,183 Capital expenditures $ 2,003,105 $ 1,115,639 $ 227,128 $ — $ 3,345,872 As of and for the three months ended March 31, 2021 Leatherstocking Holding Total Gas Company Pike Companies Company Consolidated Total electric utility revenue $ — $ 1,766,517 $ — $ — $ 1,766,517 Total gas utility revenue $ 10,042,363 $ 881,526 $ 532,633 $ — $ 11,456,522 Investment income $ 125,786 $ — $ — $ 27 $ 125,813 Loss associated with joint venture $ — $ — $ — $ (5,812 ) $ (5,812 ) Net income (loss) $ 2,525,227 $ 203,341 $ 85,653 $ (484,154 ) $ 2,330,067 Income tax expense (benefit) $ 958,237 $ 93,975 $ 11,445 $ (75,239 ) $ 988,418 Interest expense $ 331,551 $ 155,676 $ 80,744 $ 177,231 $ 745,202 Depreciation expense $ 497,773 $ 242,506 $ 117,575 $ 915 $ 858,769 Amortization expense $ 72,631 $ 76,923 $ 3,042 $ 12,006 $ 164,602 Total assets $ 97,597,465 $ 30,470,901 $ 12,687,482 $ 725,434 $ 141,481,282 Capital expenditures $ 1,160,738 $ 594,825 $ 261,437 $ — $ 2,017,000 26 Table of Contents As of and for the six months ended March 31, 2022 Leatherstocking Holding Total Gas Company Pike Companies Company Consolidated Total electric utility revenue $ — $ 6,065,527 $ — $ — $ 6,065,527 Total gas utility revenue $ 18,727,226 $ 1,616,062 $ 1,034,192 $ — $ 21,377,480 Investment income $ 28,293 $ — $ — $ — $ 28,293 Loss associated with joint venture $ — $ — $ — $ (164,003 ) $ (164,003 ) Net income (loss) $ 2,847,812 $ 912,999 $ (63,953 ) $ (764,019 ) $ 2,932,839 Income tax expense (benefit) $ 921,529 $ 164,831 $ (24,784 ) $ (104,565 ) $ 957,011 Interest expense $ 854,137 $ 325,948 $ 162,208 $ 378,103 $ 1,720,396 Depreciation expense $ 1,057,937 $ 414,736 $ 318,244 $ 1,830 $ 1,792,747 Amortization expense $ 117,600 $ 217,562 $ 6,084 $ 24,012 $ 365,258 Total assets $ 104,518,457 $ 34,755,445 $ 13,120,009 $ 519,272 $ 152,913,183 Capital expenditures $ 4,201,863 $ 1,686,538 $ 386,263 $ — $ 6,274,664 As of and for the six months ended March 31, 2021 Leatherstocking Holding Total Gas Company Pike Companies Company Consolidated Total electric utility revenue $ — $ 3,663,766 $ — $ — $ 3,663,766 Total gas utility revenue $ 15,539,990 $ 1,401,704 $ 936,977 $ — $ 17,878,671 Investment income $ 269,495 $ — $ — $ 44 $ 269,539 Loss associated with joint venture $ — $ — $ — $ (7,513 ) $ (7,513 ) Net income (loss) $ 3,083,867 $ 96,751 $ 48,013 $ (715,390 ) $ 2,513,241 Income tax expense (benefit) $ 1,201,132 $ 52,837 $ (12,653 ) $ (97,211 ) $ 1,144,105 Interest expense $ 667,336 $ 313,195 $ 155,654 $ 354,462 $ 1,490,647 Depreciation expense $ 990,335 $ 471,283 $ 264,761 $ 1,830 $ 1,728,209 Amortization expense $ 131,431 $ 185,704 $ 6,084 $ 24,012 $ 347,231 Total assets $ 97,597,465 $ 30,470,901 $ 12,687,482 $ 725,434 $ 141,481,282 Capital expenditures $ 2,508,577 $ 1,524,684 $ 362,245 $ — $ 4,395,506

Basis of Presentation (Details)

Basis of Presentation (Details)	6 Months Ended
	Mar. 31, 2022Integer	Jan. 12, 2021$ / shares
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
New York Area [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of customers | Integer	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 | Integer	4,900
Westfall Township and Borough of Matamoras [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of customers | Integer	1,300

Revenue From Contracts With C_3

Revenue From Contracts With Customers (Details) - USD ($)	3 Months Ended				6 Months Ended
	Mar. 31, 2022		Mar. 31, 2021		Mar. 31, 2022		Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 16,874,571		$ 12,922,332		$ 27,150,891		$ 21,309,690
Other revenues	90,163	[1]	300,707	[2]	292,116	[3]	232,747	[3]
Total utility operating revenues	16,964,734		13,223,039		27,443,007		21,542,437
Corning Residential Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	7,830,728		6,415,249		11,944,852		9,808,972
Other revenues	225,527	[1]	403,626	[2]	285,510	[3]	290,594	[3]
Total utility operating revenues	8,056,255		6,818,875		12,230,362		10,099,566
Corning Commercial Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,213,670		909,624		1,821,213		1,288,591
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	1,213,670		909,624		1,821,213		1,288,591
Corning Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,577,449		1,540,820		2,757,842		2,668,794
Other revenues	(26,373)	[1]	(159,888)	[2]	(3,233)	[3]	(108,460)	[3]
Total utility operating revenues	1,551,076		1,380,932		2,754,609		2,560,334
Corning Street Lights Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	188		98		324		191
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	188		98		324		191
Corning Wholesale [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,074,174		753,953		1,778,374		1,236,822
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	1,074,174		753,953		1,778,374		1,236,822
Corning Local Production [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	73,279		178,881		142,344		354,486
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	73,279		178,881		142,344		354,486
Total Corning Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,769,488		9,798,625		18,444,949		15,357,856
Other revenues	199,154	[1]	243,738	[2]	282,277	[3]	182,134	[3]
Total utility operating revenues	11,968,642		10,042,363		18,727,226		15,539,990
Pike Residential Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	826,364		695,057		1,280,852		1,108,931
Other revenues	1,444	[1]	2,276	[2]	1,448	[3]	(2,870)	[3]
Total utility operating revenues	827,808		697,333		1,282,300		1,106,061
Pike Commercial Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	207,140		184,193		333,762		295,643
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	207,140		184,193		333,762		295,643
Total Pike Retail Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,033,504		879,250		1,614,614		1,404,574
Other revenues	1,444	[1]	2,276	[2]	1,448	[3]	(2,870)	[3]
Total utility operating revenues	1,034,948		881,526		1,616,062		1,401,704
Pike Residential Electric [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,720,572		944,659		2,995,340		1,922,578
Other revenues	(110,435)	[1]	54,693	[2]	8,391	[3]	53,483	[3]
Total utility operating revenues	1,610,137		999,352		3,003,731		1,976,061
Pike Commercial Electric [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,644,976		736,310		2,976,152		1,624,244
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	1,644,976		736,310		2,976,152		1,624,244
Pike Electric - Street Lights [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	44,791		30,855		85,644		63,461
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	44,791		30,855		85,644		63,461
Pike Retail Electric [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,410,339		1,711,824		6,057,136		3,610,283
Other revenues	(110,435)	[1]	54,693	[2]	8,391	[3]	53,483	[3]
Total utility operating revenues	3,299,904		1,766,517		6,065,527		3,663,766
Total Pike [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,443,843		2,591,074		7,671,750		5,014,857
Other revenues	(108,991)	[1]	56,969	[2]	9,839	[3]	50,613	[3]
Total utility operating revenues	4,334,852		2,648,043		7,681,589		5,065,470
Leatherstocking Residential Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	219,510		175,502		338,653		314,334
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	219,510		175,502		338,653		314,334
Leatherstocking Commercial Gas [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	218,554		167,642		334,547		284,670
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	218,554		167,642		334,547		284,670
Leatherstocking Industrial Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	223,176		189,489		360,992		337,973
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	223,176		189,489		360,992		337,973
Leatherstocking [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	661,240		532,633		1,034,192		936,977
Other revenues		[1]		[2]		[3]		[3]
Total utility operating revenues	$ 661,240		$ 532,633		$ 1,034,192		$ 936,977
[1]	Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses.
[2]	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.
[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		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Pension expense			$ 310,570	$ 437,366
Ratemaking and financial statement purposes [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension expense	$ 124,517	$ 218,683
Cumulative net difference between the pension expense	579,191		579,191			$ 1,432,750
Post-retirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension expense	12,185	14,680
Other post-retirement benefit expense (benefit)			25,360	29,360
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 0	$ 255,633	$ 0	$ 511,266
Pension Benefits [Member] | Subsequent Event [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions, 2022					$ 610,968

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		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Pension Benefits [Member]
Components of Net Periodic Benefit Cost:
Service Cost	$ 220,073	$ 198,622	$ 440,146	$ 397,245
Interest Cost	241,252	240,958	482,503	481,917
Expected return on plan assets	(339,249)	(361,415)	(678,498)	(722,829)
Amortization of net actuarial gain	174,863	244,157	349,726	488,313
Net periodic benefit cost	296,939	322,322	593,877	644,646
Other Benefits [Member]
Components of Net Periodic Benefit Cost:
Service Cost	5,807	4,740	11,614	9,479
Interest Cost	8,012	6,973	16,024	13,946
Amortization of prior service cost	3,809	3,809	7,619	7,619
Amortization of net actuarial gain	994	420	1,987	841
Net periodic benefit cost	$ 18,622	$ 15,942	$ 37,244	$ 31,885

Financing Activities (Details)

Financing Activities (Details) - USD ($)	Dec. 13, 2021	Oct. 05, 2021	Oct. 31, 2021	Jun. 25, 2021	Mar. 31, 2022	Dec. 17, 2021	Sep. 30, 2021	Aug. 19, 2021	Apr. 30, 2021	Sep. 03, 2020
Debt Instrument [Line Items]
Long term loans					$ 42,797,116		$ 46,145,319
Principal balances long term debt									$ 19,100,000	$ 29,500,000
Short term borrowings					9,191,625		7,668,557
Corning Gas [Member]
Debt Instrument [Line Items]
Long term loans					6,114,346		4,657,812
Agreement with M&T [Member]
Debt Instrument [Line Items]
Debt, face amount								$ 2,210,000
Leatherstocking Gas [Member]
Debt Instrument [Line Items]
Long term loans					$ 4,956,185		5,252,712
Leatherstocking Gas [Member] | One Long Term Loans With Wayne Bank [Member]
Debt Instrument [Line Items]
Long term loans		$ 6,000,000
Principal balances long term debt		4,751,146
Leatherstocking Gas [Member] | Two Long Term Loans With Wayne Bank [Member]
Debt Instrument [Line Items]
Long term loans		650,000
Principal balances long term debt		$ 501,565
Leatherstocking Gas [Member] | Long Term Loans With Wayne Bank [Member]
Debt Instrument [Line Items]
Long term debt fixed interest rate		4.75%
Long term debt interest rate renewal date		Mar. 11, 2024
Long term debt new fixed interest rate		2.25%
Long term debt term		5 years
Interest rate, spread on basis		4.75%
M&T Bank [Member]
Debt Instrument [Line Items]
Line of credit facility interest rate description					The line of credit bears interest at a variable rate equal to (a) the applicable daily simple secured overnight financing rate (“SOFR”) or (b) 0.50% plus an interest rate spread ranging from 1.7% to 2.6% depending on the Company’s funded debt to leveraged EBITDA ratio.
Long term loans					$ 2,118,875		1,966,823
M&T Bank [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity						$ 80,000,000
M&T Bank [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity						$ 8,500,000
Agreement with Wayne Bank [Member] | Multiple Draw Construction Loan [Member]
Debt Instrument [Line Items]
Long term loans					779,030		653,934
Long term debt fixed interest rate	4.75%
Debt, face amount	$ 800,000
Maturity date	Dec. 13, 2031
Converted Term	10 years
Agreement with M&T [Member] | Corning Gas [Member]
Debt Instrument [Line Items]
Long term loans					$ 4,498,765		$ 4,665,000
Debt, face amount				$ 4,665,000
Short term borrowings				$ 850,000
Interest rate, spread on basis				2.90%
Maturity date				Oct. 31, 2031
Converted Term				10 years
Term Loan [Member] | Agreement with M&T [Member]
Debt Instrument [Line Items]
Issuance date			Aug. 19, 2021
Maturity date			Oct. 31, 2031
Amortization period			10 years
Interest rate, variable rate basis					variable rate equal to 2.9% plus the one-month LIBOR rate.

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jan. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized (losses) on equity securities			$ (235,085)	$ 80,166
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized (losses) on equity securities	$ 307,237	$ 34,092	$ 235,085	$ 80,166
Deferred compensation to retired employees					$ 180,420

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 2,184,478	$ 2,337,330
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	2,184,478	2,337,330
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	$ 2,184,478	$ 2,337,330

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Summary of Marketable Securities) (Details) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Marketable Securities
Market Value	$ 2,184,478	$ 2,337,330
Unrealized Gain	166,845	394,191
Unrealized Loss		(3,236)
Cost Basis	2,107,633	1,946,375
Cash and equivalents [Member]
Marketable Securities
Market Value	25,059	148,327
Unrealized Gain
Unrealized Loss
Cost Basis	25,059	148,327
MetLife stock value [Member]
Marketable Securities
Market Value	58,515	51,359
Unrealized Gain	6,124
Unrealized Loss		(2,496)
Cost Basis	52,391	53,855
Government and agency bonds [Member]
Marketable Securities
Market Value		16,315
Unrealized Gain		1,243
Unrealized Loss
Cost Basis		15,072
Holding Company Preferred A Stock [Member]
Marketable Securities
Market Value	595,790	598,082
Unrealized Gain	22,915	25,207
Unrealized Loss
Cost Basis	572,875	572,875
Equity and debt securities [Member]
Marketable Securities
Market Value	1,505,114	1,490,567
Unrealized Gain	137,806	367,741
Unrealized Loss
Cost Basis	$ 1,367,308	1,122,826
Commodities [Member]
Marketable Securities
Market Value		32,680
Unrealized Gain
Unrealized Loss		(740)
Cost Basis		$ 33,420

Fair Value of Financial Instr_6

Fair Value of Financial Instruments (Schedule of Gains Included in Earnings) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Fair Value of Financial Instruments [Abstract]
Net realized gains recognized during the period on investments	$ 222,358	$ 148,758	$ 244,122	$ 175,222

Stockholders' Equity and Pref_3

Stockholders' Equity and Preferred Stock (Narrative) (Details) - USD ($)	Dec. 08, 2021	Dec. 03, 2021	Mar. 31, 2022	Sep. 30, 2021	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 08, 2026	Dec. 31, 2021
Class of Stock [Line Items]
Dividends declared on common			$ 469,898		$ 469,898	$ 939,796	$ 939,795
Dividends accrued			$ 469,898			469,898
Dividends paid				$ 469,898
Debt issuance costs						$ 44,662	53,919
Preferred shares issued			260,600	260,600		260,600
Preferred Stock, Shares Outstanding			260,600	260,600		260,600
Purchase price						$ 5,000,000
Series A Cumulative Preferred Stock [Member]
Class of Stock [Line Items]
Dividends declared on Preferred shares			$ 97,725		78,975	$ 195,450	195,450
Liquidation preference per share			$ 25			$ 25
Percentage of dividend rate on preferred shares						6.00%
Debt issuance costs			$ 2,538		5,182	$ 5,075	10,365
Series C Cumulative Preferred Stock [Member]
Class of Stock [Line Items]
Dividends declared on Preferred shares			$ 67,500		67,500	$ 135,000	135,000
Liquidation preference per share			$ 25			$ 25
Percentage of dividend rate on preferred shares						6.00%
Debt issuance costs			$ 62		62	$ 124	124
1.5% Series D Cumulative Redeemable Preferred Stock [Member]
Class of Stock [Line Items]
Percentage of dividend rate on preferred shares		1.50%
Preferred shares issued		5,000
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Dividends declared on Preferred shares			18,750			23,641
Liquidation preference per share		$ 0.01
Redemption Price Per Share									$ 1,000
Series D Preferred Stock [Member] | ACP Crotona Corp [Member]
Class of Stock [Line Items]
Preferred shares issued	5,000
Preferred Stock, Value Per Share	$ 1,000
Purchase price	$ 5
Series D Preferred Stock [Member] | December 8, 2026 [Member]
Class of Stock [Line Items]
Redemption Price Per Share								$ 1,000
Series B Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Dividends accrued			$ 61,066	$ 61,066		$ 61,066
Liquidation preference per share			$ 20.75			$ 20.75
Percentage of dividend rate on preferred shares						4.80%

Stockholders' Equity and Pref_4

Stockholders' Equity and Preferred Stock (Schedule of Stockholders' Equity) (Details) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Mar. 31, 2021
Class of Stock [Line Items]
Total, shares		11,030
Total		$ 126,896
Directors [Member]
Class of Stock [Line Items]
Total, shares		3,150
Total		$ 40,163
Leatherstocking Gas Company [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		3,380
Total		$ 51,749

Stockholders' Equity and Pref_5

Stockholders' Equity and Preferred Stock (Schedule of Stock Option Activity) (Details) - $ / shares	6 Months Ended	12 Months Ended
	Mar. 31, 2022	Sep. 30, 2021
Number of Options
Outstanding at September 30, 2021	20,000
Granted
Exercised
Expired or forfeited
Outstanding at March 31, 2022		20,000
Weighted-Average Exercise Price
Outstanding at September 30, 2021	$ 19.75
Granted
Exercised
Expired or forfeited
Outstanding at March 31, 2022		$ 19.75
Outstanding at March 31, 2022	8 years 11 months 12 days	9 years 5 months 12 days

Investment in Joint Venture (Na

Investment in Joint Venture (Narrative) (Details) - Leatherstocking Gas Company LLC And Leatherstocking Pipeline Company LLC [Member] - USD ($)	3 Months Ended	6 Months Ended
	Dec. 31, 2021	Mar. 31, 2022	Jul. 02, 2020
Schedule of Equity Method Investments [Line Items]
Ownership percentage			50.00%
Assets acquired book value			$ 532,000
Purchase Price	$ 100,000
Pre-tax loss		$ 164,003

Investment in Joint Venture (Sc

Investment in Joint Venture (Schedule of Investment Activity) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Beginning balance in investment in joint ventures			$ 261,180	$ 264,640
Proceeds from sale of interest in joint ventures			(100,000)
Loss on sale of interest in joint ventures
Accounts payable due			2,823
Cost adjustment				4,214
Loss from joint ventures		$ (5,812)	(164,003)	(7,513)
Ending balance in joint ventures		$ 261,341		$ 261,341

Investment in Joint Venture (Su

Investment in Joint Venture (Summary of Joint Ventures financial) (Details) - USD ($)	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Schedule of Equity Method Investments [Line Items]
Total assets	$ 152,913,183	$ 141,481,282	$ 144,054,747
Equity Method Investment [Member]
Schedule of Equity Method Investments [Line Items]
Total assets		528,000
Total liabilities		5,000
Net income (loss)		$ (8,000)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Federal corporate tax rate	21.00%	21.00%

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred and Current Income Tax Expense) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Current
Deferred	704,701	988,418	957,011	1,144,105
Total	$ 704,701	$ 988,418	$ 957,011	$ 1,144,105

Regulatory Matters (Details)

Regulatory Matters (Details) - USD ($)	1 Months Ended		6 Months Ended
	May 21, 2021	Mar. 31, 2021	Mar. 31, 2022	Jul. 16, 2021	Apr. 30, 2021	Sep. 03, 2020
Public Utilities, General Disclosures [Line Items]
Description of rate order			The rate order disallowed the Company’s request for an increase in required revenue of $6,223,603, 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. In addition, the NYPSC denied recovery of the Gas Company’s approximately $350,000 leak repair and survey cost reserve established in FY 2016. The denial of recovery of this reserve resulted in a FY 2021 charge of approximately $180,000 (pre-tax), as the Company had previously established a reserve for this matter in the amount of $170,000 (pre-tax). The net impact on the Gas Company’s customers was an increase of $505,000 for the Rate Year, retroactive to February 1, 2021.
Amount of rate increases in gas company			$ 400,000
Amount of levelized increases over three years by gas company			1,200,000	$ 3,761,000
Percentage of impact customer bills				11.14%
Forgiveness of loan	$ 480,000	$ 970,000	0
Total amount of customer credits			$ 50,000
Long term debt					$ 19,100,000	$ 29,500,000
Return on equity, percentage			9.25%
Total expenses			$ 300,000
Customers earnings in excess			9.75%
Earnings Sharing Mechanism [Member]
Public Utilities, General Disclosures [Line Items]
Return on equity, percentage			9.75%
Low-Income Program [Member]
Public Utilities, General Disclosures [Line Items]
Amount of rate increases in gas company			$ 70,000
June 30, 2023 [Member]
Public Utilities, General Disclosures [Line Items]
Amount of rate increases in gas company				$ 6,555,000
Amount of levelized increases over three years by gas company			$ 1,706,870
Percentage of impact customer bills			5.50%
June 30, 2024 [Member]
Public Utilities, General Disclosures [Line Items]
Amount of rate increases in gas company				1,030,000
Amount of levelized increases over three years by gas company			$ 1,798,620
Percentage of impact customer bills			5.50%
June 30, 2025 [Member]
Public Utilities, General Disclosures [Line Items]
Amount of rate increases in gas company				$ 843,000
Amount of levelized increases over three years by gas company			$ 1,740,870
Percentage of impact customer bills			5.10%

Segment Reporting (Details)

Segment Reporting (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total electric utility revenue	$ 3,299,904	$ 1,766,517	$ 6,065,527	$ 3,663,766
Total gas utility revenue	13,664,830	11,456,522	21,377,480	17,878,671
Investment income	(80,206)	125,813	28,293	269,539
Loss associated with joint venture		(5,812)	(164,003)	(7,513)
Net income (loss)	2,468,546	2,330,067	2,932,839	2,513,241
Income tax expense (benefit)	704,701	988,418	957,011	1,144,105
Interest expense	863,341	745,202	1,720,396	1,490,647
Depreciation expense	946,907	858,769	1,792,747	1,728,209
Amortization expense	182,629	164,602	365,258	347,231
Total assets	152,913,183	141,481,282	152,913,183	141,481,282	$ 144,054,747
Capital expenditures	3,345,872	2,017,000	6,274,664	4,395,506
Gas Company [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue
Total gas utility revenue	11,968,642	10,042,363	18,727,226	15,539,990
Investment income	(80,206)	125,786	28,293	269,495
Loss associated with joint venture
Net income (loss)	2,291,206	2,525,227	2,847,812	3,083,867
Income tax expense (benefit)	729,436	958,237	921,529	1,201,132
Interest expense	429,635	331,551	854,137	667,336
Depreciation expense	556,986	497,773	1,057,937	990,335
Amortization expense	58,800	72,631	117,600	131,431
Total assets	104,518,457	97,597,465	104,518,457	97,597,465
Capital expenditures	2,003,105	1,160,738	4,201,863	2,508,577
Pike [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue	3,299,904	1,766,517	6,065,527	3,663,766
Total gas utility revenue	1,034,948	881,526	1,616,062	1,401,704
Investment income
Loss associated with joint venture
Net income (loss)	493,986	203,341	912,999	96,751
Income tax expense (benefit)	(10,916)	93,975	164,831	52,837
Interest expense	159,767	155,676	325,948	313,195
Depreciation expense	200,624	242,506	414,736	471,283
Amortization expense	108,781	76,923	217,562	185,704
Total assets	34,755,445	30,470,901	34,755,445	30,470,901
Capital expenditures	1,115,639	594,825	1,686,538	1,524,684
Leatherstocking Companies [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue
Total gas utility revenue	661,240	532,633	1,034,192	936,977
Investment income
Loss associated with joint venture
Net income (loss)	3,483	85,653	(63,953)	48,013
Income tax expense (benefit)	(2,790)	11,445	(24,784)	(12,653)
Interest expense	77,958	80,744	162,208	155,654
Depreciation expense	188,382	117,575	318,244	264,761
Amortization expense	3,042	3,042	6,084	6,084
Total assets	13,120,009	12,687,482	13,120,009	12,687,482
Capital expenditures	227,128	261,437	386,263	362,245
Holding Company [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue
Total gas utility revenue
Investment income		27		44
Loss associated with joint venture		(5,812)	(164,003)	(7,513)
Net income (loss)	(320,129)	(484,154)	(764,019)	(715,390)
Income tax expense (benefit)	(11,029)	(75,239)	(104,565)	(97,211)
Interest expense	195,981	177,231	378,103	354,462
Depreciation expense	915	915	1,830	1,830
Amortization expense	12,006	12,006	24,012	24,012
Total assets	519,272	725,434	519,272	725,434
Capital expenditures

Subsequent Events (Details)

Subsequent Events (Details) - M&T Bank [Member] - USD ($) $ in Millions	May 11, 2022	Dec. 17, 2021
Minimum [Member]
Line of credit, maximum borrowing capacity		$ 80
Maximum [Member]
Line of credit, maximum borrowing capacity		$ 8.5
Subsequent Event [Member]
Interest rate floor	50.00%
Variable interest rate	3.10%
Subsequent Event [Member] | Corning Gas [Member]
Interest rate floor	50.00%
Variable interest rate	3.10%
Subsequent Event [Member] | Minimum [Member]
Line of credit, maximum borrowing capacity	$ 2
Subsequent Event [Member] | Minimum [Member] | Corning Gas [Member]
Line of credit, maximum borrowing capacity	8.5
Subsequent Event [Member] | Maximum [Member]
Line of credit, maximum borrowing capacity	2.5
Subsequent Event [Member] | Maximum [Member] | Corning Gas [Member]
Line of credit, maximum borrowing capacity	$ 10