New Jersey Resources (NJR) 10-Q 10 Aug 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jun. 30, 2020	Aug. 05, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-08359
Entity Registrant Name	NEW JERSEY RESOURCES CORPORATION
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-2376465
Entity Address, Address Line One	1415 Wyckoff Road
Entity Address, City or Town	Wall
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07719
City Area Code	(732)
Local Phone Number	938‑1480
Title of 12(b) Security	Common Stock - $2.50 Par Value
Trading Symbol	NJR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Business	false
Entity Common Stock, Shares Outstanding		95,930,191
Entity Central Index Key	0000356309
Current Fiscal Year End Date	--09-30
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
OPERATING REVENUES
Utility	$ 128,532	$ 120,782	$ 645,375	$ 622,167
Nonutility	170,442	314,160	908,249	1,490,797
Total operating revenues	298,974	434,942	1,553,624	2,112,964
Gas purchases:
Gas purchases - Related parties	1,518	2,126	4,548	6,455
Operation and maintenance	68,541	64,932	198,718	194,298
Regulatory rider expenses	5,464	4,136	32,536	32,159
Depreciation and amortization	31,216	23,149	89,758	67,292
Total operating expenses	319,165	438,961	1,377,103	1,951,239
OPERATING (LOSS) INCOME	(20,191)	(4,019)	176,521	161,725
Other income, net	2,713	1,829	10,260	5,456
Interest expense, net of capitalized interest	15,144	11,648	50,417	37,643
(LOSS) INCOME BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF AFFILIATES	(32,622)	(13,838)	136,364	129,538
Income tax benefit	(2,190)	(1,941)	(4,092)	(11,854)
Equity in earnings of affiliates	3,213	3,495	10,191	10,027
NET (LOSS) INCOME	$ (27,219)	$ (8,402)	$ 150,647	$ 151,419
EARNINGS PER COMMON SHARE
Basic (usd per share)	$ (0.28)	$ (0.09)	$ 1.60	$ 1.70
Diluted (usd per share)	$ (0.28)	$ (0.09)	$ 1.59	$ 1.69
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic (in shares)	95,764	89,600	94,420	88,995
Diluted (in shares)	95,764	89,600	94,718	89,402
Regulated
Gas purchases:
Gas purchases - Utility and Nonutility	$ 45,665	$ 54,861	$ 249,042	$ 280,627
Unregulated
Gas purchases:
Gas purchases - Utility and Nonutility	$ 166,761	$ 289,757	$ 802,501	$ 1,370,408

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (27,219)	$ (8,402)	$ 150,647	$ 151,419
Other comprehensive (loss) income, net of tax
Loss on derivatives designated as hedging instruments, net of tax of $180, $0, $2,961 and $0, respectively	(626)	0	(10,337)	0
Adjustment to postemployment benefit obligation, net of tax of $(191), $(118), $(2,161) and $(333), respectively	663	305	7,522	844
Other comprehensive income (loss)	37	305	(2,815)	844
Comprehensive (loss) income	$ (27,182)	$ (8,097)	$ 147,832	$ 152,263

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Tax on net unrealized gain on derivatives	$ 180	$ 0	$ 2,961	$ 0
Tax on adjustment for postemployment benefit obligation	$ (191)	$ (118)	$ (2,161)	$ (333)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 150,647,000	$ 151,419,000
Adjustments to reconcile net income to cash flows from operating activities
Unrealized gain on derivative instruments	(21,827,000)	(25,353,000)
Realized and unrealized gains on investments in equity securities	0	(1,567,000)
Gain on sale of businesses	0	(645,000)
Depreciation and amortization	89,758,000	67,292,000
Amortization of acquired wholesale energy contracts	4,356,000	7,813,000
Allowance for equity used during construction	(12,328,000)	(6,135,000)
Allowance for doubtful accounts	1,657,000	1,686,000
Non cash lease expense	2,864,000	0
Deferred income taxes	(3,066,000)	(29,092,000)
Manufactured gas plant remediation costs	(6,629,000)	(9,582,000)
Equity in earnings, net of distributions received from equity investees	(4,985,000)	(2,700,000)
Cost of removal - asset retirement obligations	(183,000)	(194,000)
Contributions to postemployment benefit plans	(5,969,000)	(5,994,000)
Tax benefit from stock-based compensation	644,000	1,289,000
Changes in:
Components of working capital	(17,397,000)	(14,829,000)
Other noncurrent assets	10,177,000	16,906,000
Other noncurrent liabilities	(4,936,000)	15,476,000
Cash flows from operating activities	182,783,000	165,790,000
Expenditures for:
Cost of removal	(24,343,000)	(32,212,000)
Acquisition of assets, net of cash acquired of $5.1 million	(523,647,000)	0
Distribution from equity investees in excess of equity in earnings	1,411,000	1,473,000
Investments in equity investees	(1,491,000)	(2,696,000)
Proceeds from sale of businesses, net of closing costs	0	205,745,000
Proceeds from sale of investments in equity securities, net	0	34,484,000
Cash flows used in investing activities	(890,966,000)	(105,012,000)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES
Proceeds from term loan	350,000,000	0
Payments of term loan	(212,900,000)	0
Proceeds from long-term debt	50,000,000	35,800,000
Payments of long-term debt	(11,947,000)	(15,001,000)
Proceeds from (payments of) short-term debt, net	390,562,000	(52,650,000)
Proceeds from sale-leaseback transaction - solar	42,927,000	0
Proceeds from sale-leaseback transaction	4,000,000
Proceeds from sale-leaseback transaction		9,895,000
Payments of common stock dividends	(86,709,000)	(77,730,000)
Proceeds from issuance of common stock - public equity offering	212,900,000	0
Proceeds from waiver discount issuance of common stock	0	57,391,000
Proceeds from issuance of common stock - DRP	14,498,000	13,199,000
Tax withholding payments related to net settled stock compensation	(3,966,000)	(6,704,000)
Cash flows from (used in) financing activities	749,365,000	(35,800,000)
Change in cash, cash equivalents and restricted cash	41,182,000	24,978,000
Cash, cash equivalents and restricted cash at beginning of period	4,063,000	1,710,000
Cash, cash equivalents and restricted cash at end of period	45,245,000	26,688,000
CHANGES IN COMPONENTS OF WORKING CAPITAL
Receivables	(3,019,000)	28,385,000
Inventories	42,566,000	51,833,000
Recovery of gas costs	(5,722,000)	(14,870,000)
Gas purchases payable	(55,593,000)	(66,060,000)
Prepaid expenses	1,487,000	(2,385,000)
Prepaid and accrued taxes	(991,000)	10,110,000
Accounts payable and other	(13,084,000)	(31,883,000)
Restricted broker margin accounts	11,900,000	13,092,000
Customers' credit balances and deposits	(7,060,000)	(7,832,000)
Other current assets	12,119,000	4,781,000
Total	(17,397,000)	(14,829,000)
Cash paid for:
Interest (net of amounts capitalized)	47,642,000	42,107,000
Income taxes	1,127,000	8,550,000
Accrued capital expenditures	20,814,000	32,143,000
Utility Plant
Expenditures for:
Payments to acquire PP&E	(213,667,000)	(207,357,000)
Solar Equipment
Expenditures for:
Payments to acquire PP&E	(110,968,000)	(91,333,000)
Midstream and Other Property
Expenditures for:
Payments to acquire PP&E	$ (18,261,000)	$ (13,116,000)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical) $ in Millions	9 Months Ended
	Jun. 30, 2020USD ($)
Statement of Cash Flows [Abstract]
Cash acquired from asset acquisition	$ 5.1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
PROPERTY, PLANT AND EQUIPMENT
Utility plant, at cost	$ 2,741,021	$ 2,625,730
Construction work in progress	362,970	237,011
Nonutility plant and equipment, at cost	1,410,428	861,904
Construction work in progress	167,807	62,492
Total property, plant and equipment	4,682,226	3,787,137
Accumulated depreciation and amortization, utility plant	(586,711)	(585,160)
Accumulated depreciation and amortization, nonutility plant and equipment	(191,520)	(156,033)
Property, plant and equipment, net	3,903,995	3,045,944
CURRENT ASSETS
Cash and cash equivalents	42,821	2,676
Customer accounts receivable
Billed	143,059	139,263
Unbilled revenues	8,738	6,510
Allowance for doubtful accounts	(6,975)	(6,148)
Regulatory assets	52,251	32,871
Gas in storage, at average cost	123,962	169,803
Materials and supplies, at average cost	18,128	14,475
Prepaid expenses	7,700	8,333
Prepaid and accrued taxes	25,546	22,602
Derivatives, at fair value	29,367	25,103
Restricted broker margin accounts	52,212	73,723
Other	24,269	22,395
Total current assets	521,078	511,606
NONCURRENT ASSETS
Investments in equity method investees	205,800	200,268
Regulatory assets	451,115	496,637
Operating lease assets	101,657	0
Derivatives, at fair value	6,347	7,426
Intangible assets, net	11,006	14,611
Other noncurrent assets	81,086	96,493
Total noncurrent assets	857,011	815,435
Total assets	5,282,084	4,372,985
CAPITALIZATION
Common stock, $2.50 par value; authorized 150,000,000 shares; outstanding June 30, 2020 — 95,830,500; September 30, 2019 — 89,998,788	240,227	226,649
Premium on common stock	492,365	291,331
Accumulated other comprehensive loss, net of tax	(34,602)	(31,787)
Treasury stock at cost and other; shares June 30, 2020 — 260,462; September 30, 2019 —660,734	4,012	(10,436)
Retained earnings	1,136,925	1,075,960
Common stock equity	1,838,927	1,551,717
Long-term debt	1,664,517	1,537,177
Total capitalization	3,503,444	3,088,894
CURRENT LIABILITIES
Current maturities of long-term debt	25,954	21,419
Short-term debt	553,112	25,450
Gas purchases payable	81,677	137,271
Gas purchases payable to related parties	791	790
Accounts payable and other	109,987	129,724
Dividends payable	29,947	28,122
Accrued taxes	5,347	3,394
Regulatory liabilities-current	6,774	0
New Jersey Clean Energy Program	17,062	15,468
Derivatives, at fair value	47,094	57,623
Operating lease liabilities	4,458	0
Customers' credit balances and deposits	20,056	27,116
Total current liabilities	902,259	446,377
NONCURRENT LIABILITIES
Deferred income taxes	187,508	190,663
Deferred investment tax credits	3,412	3,653
Deferred gain	1,035	1,554
Derivatives, at fair value	23,600	18,821
Manufactured gas plant remediation	128,886	131,080
Postemployment employee benefit liability	196,664	246,517
Regulatory liabilities	197,281	202,435
Operating lease liabilities	96,118	0
Asset retirement obligation	33,305	31,046
Other	8,572	11,945
Total noncurrent liabilities	876,381	837,714
Commitments and contingent liabilities (Note 13)
Total capitalization and liabilities	$ 5,282,084	$ 4,372,985

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Sep. 30, 2019
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 2.5	$ 2.5
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares outstanding (in shares)	95,830,500	89,998,788
Treasury stock at cost and other, shares (in shares)	260,462	660,734

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCK EQUITY (Unaudited) - USD ($) $ in Thousands		Total	Common Stock	Premium on Common Stock	Accumulated Other Comprehensive (Loss) Income	Treasury Stock And Other	Retained Earnings
Balance as of beginning of period (in shares) at Sep. 30, 2018			88,293,000
Balance as of beginning of period at Sep. 30, 2018		$ 1,418,978	$ 226,196	$ 274,748	$ (12,610)	$ (76,473)	$ 1,007,117
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		86,248					86,248
Other comprehensive income		234			234
Common stock issued:
Incentive compensation plan (in shares)			137,000
Incentive compensation plan		2,134	$ 343	1,791
Dividend reinvestment plan (in shares)	[1]		82,000
Dividend reinvestment plan	[1]	3,692		454		3,238
Waiver discount (in shares)			168,000
Waiver discount		7,964		1,293		6,671
Cash dividend declared		(25,938)					(25,938)
Treasury stock and other		1,504				1,504
Balance as of end of period (in shares) at Dec. 31, 2018			88,680,000
Balance as of end of period at Dec. 31, 2018		1,497,050	$ 226,539	278,286	(15,822)	(65,060)	1,073,107
Balance as of beginning of period (in shares) at Sep. 30, 2018			88,293,000
Balance as of beginning of period at Sep. 30, 2018		1,418,978	$ 226,196	274,748	(12,610)	(76,473)	1,007,117
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		151,419
Other comprehensive income		844
Balance as of end of period (in shares) at Jun. 30, 2019			89,918,000
Balance as of end of period at Jun. 30, 2019		1,572,197	$ 226,627	290,414	(15,212)	(15,628)	1,085,996
Balance as of beginning of period (in shares) at Dec. 31, 2018			88,680,000
Balance as of beginning of period at Dec. 31, 2018		1,497,050	$ 226,539	278,286	(15,822)	(65,060)	1,073,107
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		73,573					73,573
Other comprehensive income		305			305
Common stock issued:
Incentive compensation plan (in shares)			30,000
Incentive compensation plan		1,224	$ 74	1,150
Dividend reinvestment plan (in shares)	[1]		123,000
Dividend reinvestment plan	[1]	5,762		870		4,892
Waiver discount (in shares)			339,000
Waiver discount		16,575		3,123		13,452
Cash dividend declared		(25,981)					(25,981)
Treasury stock and other (in shares)			(8,000)
Treasury stock and other		654				654
Balance as of end of period (in shares) at Mar. 31, 2019			89,164,000
Balance as of end of period at Mar. 31, 2019		1,569,162	$ 226,613	283,429	(15,517)	(46,062)	1,120,699
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		(8,402)					(8,402)
Other comprehensive income		305			305
Common stock issued:
Incentive compensation plan (in shares)			6,000
Incentive compensation plan		208	$ 14	194
Dividend reinvestment plan (in shares)	[1]		74,000
Dividend reinvestment plan	[1]	3,632		676		2,956
Waiver discount (in shares)			674,000
Waiver discount		32,852		6,115		26,737
Cash dividend declared		(26,301)					(26,301)
Treasury stock and other		741				741
Balance as of end of period (in shares) at Jun. 30, 2019			89,918,000
Balance as of end of period at Jun. 30, 2019		$ 1,572,197	$ 226,627	290,414	(15,212)	(15,628)	1,085,996
Balance as of beginning of period (in shares) at Sep. 30, 2019		89,998,788	89,999,000
Balance as of beginning of period at Sep. 30, 2019		$ 1,551,717	$ 226,649	291,331	(31,787)	(10,436)	1,075,960
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		89,361					89,361
Other comprehensive income		759			759
Common stock issued:
Common stock offering (in shares)			5,333,000
Common stock offering		212,900	$ 13,333	199,567
Incentive compensation plan (in shares)			96,000
Incentive compensation plan		3,292	$ 239	3,053
Dividend reinvestment plan (in shares)	[1]		80,000
Dividend reinvestment plan	[1]	3,499		314		3,185
Cash dividend declared		(29,846)					(29,846)
Treasury stock and other		(3,879)				(3,879)
Balance as of end of period (in shares) at Dec. 31, 2019			95,508,000
Balance as of end of period at Dec. 31, 2019		$ 1,827,803	$ 240,221	494,265	(31,028)	(11,130)	1,135,475
Balance as of beginning of period (in shares) at Sep. 30, 2019		89,998,788	89,999,000
Balance as of beginning of period at Sep. 30, 2019		$ 1,551,717	$ 226,649	291,331	(31,787)	(10,436)	1,075,960
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		150,647
Other comprehensive income		$ (2,815)
Balance as of end of period (in shares) at Jun. 30, 2020		95,830,500	95,830,000
Balance as of end of period at Jun. 30, 2020		$ 1,838,927	$ 240,227	492,365	(34,602)	4,012	1,136,925
Balance as of beginning of period (in shares) at Dec. 31, 2019			95,508,000
Balance as of beginning of period at Dec. 31, 2019		1,827,803	$ 240,221	494,265	(31,028)	(11,130)	1,135,475
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		88,505					88,505
Other comprehensive income		(3,611)			(3,611)
Common stock issued:
Dividend reinvestment plan (in shares)	[1]		143,000
Dividend reinvestment plan	[1]	5,205		(416)		5,621
Cash dividend declared		(29,888)					(29,888)
Treasury stock and other (in shares)			(8,000)
Treasury stock and other		1,093		107		986
Balance as of end of period (in shares) at Mar. 31, 2020			95,643,000
Balance as of end of period at Mar. 31, 2020		1,889,107	$ 240,221	493,956	(34,639)	(4,523)	1,194,092
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		(27,219)					(27,219)
Other comprehensive income		37			37
Common stock issued:
Incentive compensation plan (in shares)			2,000
Incentive compensation plan		119	$ 6	113
Dividend reinvestment plan (in shares)	[1]		185,000
Dividend reinvestment plan	[1]	5,723		(1,694)		7,417
Cash dividend declared		(29,948)					(29,948)
Treasury stock and other		$ 1,108		(10)		1,118
Balance as of end of period (in shares) at Jun. 30, 2020		95,830,500	95,830,000
Balance as of end of period at Jun. 30, 2020		$ 1,838,927	$ 240,227	$ 492,365	$ (34,602)	$ 4,012	$ 1,136,925
[1]	Shares sold through the DRP are issued from treasury stock at average cost, which may differ from the actual market price paid.

CONDENSED CONSOLIDATED STATEM_7

CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCK EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividend declared per share (usd per share)	$ 0.3125	$ 0.3125	$ 0.3125	$ 0.2925	$ 0.2925	$ 0.2925

NATURE OF THE BUSINESS

NATURE OF THE BUSINESS	9 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF THE BUSINESS	1. NATURE OF THE BUSINESS New Jersey Resources Corporation provides regulated gas distribution services, transportation and storage services and operates certain unregulated businesses primarily through the following: New Jersey Natural Gas Company provides natural gas utility service to approximately 555,000 customers in central and northern New Jersey and is subject to rate regulation by the BPU. NJNG comprises the Natural Gas Distribution segment. NJR Clean Energy Ventures Corporation, the Company's clean energy subsidiary, comprises the Clean Energy Ventures segment and consists of the Company's capital investments in commercial and residential solar projects located throughout New Jersey. Clean Energy Ventures finalized the sale of its remaining wind assets on February 7, 2019 ; see Note 18. Acquisitions and Dispositions for more details. NJR Energy Services Company comprises the Energy Services segment. Energy Services maintains and transacts around a portfolio of natural gas storage and transportation capacity contracts and provides physical wholesale energy, retail energy and energy management services in the U.S. and Canada. NJR Midstream Holdings Corporation, which comprises the Midstream segment, invests in energy-related ventures which include the Company's 50 percent combined ownership interest in Steckman Ridge, located in Pennsylvania, the Company's 20 percent ownership interest in PennEast and the wholly-owned subsidiaries of L eaf River, which was acquired on October 11, 2019 and Adelphia, which was acquired on January 13, 2020 , and is subject to FERC regulation . See Note 17. Acquisitions and Dispositions for more information regarding these acquisitions. NJR Retail Holdings Corporation has two principal subsidiaries, NJR Home Services Company, which provides heating, central air conditioning, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey, and Commercial Realty & Resources Corp., which owns commercial real estate. NJR Home Services Company and Commercial Realty & Resources Corp. are included in Home Services and Other operations. Impacts of the COVID-19 Pandemic In March 2020, COVID-19 was declared a pandemic by the World Health Organization and the Centers for Disease Control and Prevention and has spread globally, including throughout the United States. The Company’s Unaudited Condensed Consolidated Financial Statements reflect estimates and assumptions made by management that affect the reported amounts of assets and liabilities at the balance sheet date and reported amounts of revenue and expenses during the reporting periods presented. The Company considered the impacts of COVID-19 on the assumptions and estimates used and determined that there have been no material adverse impacts on the Company’s results of operations as of June 30, 2020 .

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying Unaudited Condensed Consolidated Financial Statements have been prepared by NJR in accordance with the rules and regulations of the SEC and GAAP. The September 30, 2019 Balance Sheet data is derived from the audited financial statements of the Company. These Unaudited Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and the notes thereto included in NJR's 2019 Annual Report on Form 10-K. The Unaudited Condensed Consolidated Financial Statements include the accounts of NJR and its subsidiaries. In the opinion of management, the accompanying Unaudited Condensed Consolidated Financial Statements reflect all adjustments necessary for a fair presentation of the results of the interim periods presented. These adjustments are of a normal and recurring nature. Because of the seasonal nature of NJR's utility and wholesale energy services operations, in addition to other factors, the financial results for the interim periods presented are not indicative of the results that are to be expected for the fiscal year ending September 30, 2020 . Intercompany transactions and accounts have been eliminated. Use of Estimates The preparation of financial statements in conformity with GAAP requires the Company to make estimates that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingencies during the reporting period. On a quarterly basis or more frequently whenever events or changes in circumstances indicate a need, the Company evaluates its estimates, including those related to the calculation of the fair value of derivative instruments, debt, equity method investments, unbilled revenues, allowance for doubtful accounts, provisions for depreciation and amortization, long-lived assets, regulatory assets and liabilities, income taxes, pensions and other postemployment benefits, contingencies related to environmental matters and litigation. ARO are evaluated as often as needed. The Company’s estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. The Company has legal, regulatory and environmental proceedings during the normal course of business that can result in loss contingencies. When evaluating the potential for a loss, the Company will establish a reserve if a loss is probable and can be reasonably estimated, in which case it is the Company’s policy to accrue the full amount of such estimates. Where the information is sufficient only to establish a range of probable liability, and no point within the range is more likely than any other, it is the Company’s policy to accrue the lower end of the range. In the normal course of business, estimated amounts are subsequently adjusted to actual results that may differ from estimates. Acquisitions The Company follows the guidance in ASC 805, Business Combinations, for determining the appropriate accounting treatment for acquisitions. ASU No. 2017-01, Clarifying the Definition of a Business , provides an initial fair value screen to determine if substantially all of the fair value of the assets acquired is concentrated in a single asset or group of similar assets. If the initial screening test is not met, the set is considered a business based on whether there are inputs and substantive processes in place. Based on the results of this analysis and conclusion on an acquisition’s classification of a business combination or an asset acquisition, the accounting treatment is derived. If the acquisition is deemed to be a business, the acquisition method of accounting is applied. Identifiable assets acquired and liabilities assumed at the acquisition date are recorded at fair value. If the transaction is deemed to be an asset purchase, the cost accumulation and allocation model is used whereby the assets and liabilities are recorded based on the purchase price and allocated to the individual assets and liabilities based on relative fair values. The determination and allocation of fair values to the identifiable assets acquired and liabilities assumed are based on various assumptions and valuation methodologies requiring considerable management judgment. The most significant variables in these valuations are discount rates and the number of years on which to base the cash flow projections, as well as other assumptions and estimates used to determine the cash inflows and outflows. Management determines discount rates based on the risk inherent in the acquired assets, specific risks, industry beta and capital structure of guideline companies. The valuation of an acquired business is based on available information at the acquisition date and assumptions that are believed to be reasonable. However, a change in facts and circumstances as of the acquisition date can result in subsequent adjustments during the measurement period, but no later than one year from the acquisition date. Revenues Revenues from the sale of natural gas to NJNG customers are recognized in the period that gas is delivered and consumed by customers, including an estimate for unbilled revenue. NJNG records unbilled revenue for natural gas services. Natural gas sales to individual customers are based on meter readings, which are performed on a systematic basis throughout the month. At the end of each month, the amount of natural gas delivered to each customer after the last meter reading through the end of the respective accounting period is estimated, and recognizes unbilled revenues related to these amounts. The unbilled revenue estimates are based on estimated customer usage by customer type, weather effects, unaccounted-for gas and the most current tariff rates. Clean Energy Ventures recognizes revenue when SRECs are transferred to counterparties. SRECs are physically delivered through the transfer of certificates as per contractual settlement schedules. Revenues for Energy Services are recognized when the natural gas is physically delivered to the customer. In addition, changes in the fair value of derivatives that economically hedge the forecasted sales of the natural gas are recognized in operating revenues as they occur, as noted above. Energy Services also recognizes changes in the fair value of SREC derivative contracts as a component of operating revenues. Midstream generates revenues from firm storage contracts and transportation contracts, related usage fees and hub services for the use of storage space, injections and withdrawals from their natural gas storage facility and the delivery of natural gas to customers. Demand fees are recognized as revenue over the term of the related agreement while usage fees and hub services revenues are recognized as services are performed. Revenues from all other activities are recorded in the period during which products or services are delivered and accepted by customers, or over the related contractual term. See Note 3. Revenue for further information. Gas in Storage The following table summarizes gas in storage, at average cost by segment as of: June 30, 2020 September 30, 2019 ($ in thousands) Gas in Storage Bcf Gas in Storage Bcf Energy Services $ 50,400 33.1 $ 52,390 25.6 Natural Gas Distribution 73,501 17.5 117,413 27.0 Midstream 61 — — — Total $ 123,962 50.6 $ 169,803 52.6 Cash and Cash Equivalents Cash and cash equivalents consist of cash on deposit and temporary investments with maturities of three months or less, and excludes restricted cash related to escrow balances for utility plant projects at NJNG and irrevocable letters of credit at Leaf River, which is recorded in other current and noncurrent assets on the Unaudited Condensed Consolidated Balance Sheets, respectively. ASU No. 2016-18, an amendment to ASC 230, Statement of Cash Flows , required that any amounts that are deemed to be restricted cash or restricted cash-equivalents be included in cash and cash-equivalent balances on the cash flow statement. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the Unaudited Condensed Consolidated Balance Sheets to the total amounts in the Unaudited Condensed Consolidated Statements of Cash Flows as follows: (Thousands) June 30, September 30, June 30, September 30, Balance Sheet Cash and cash equivalents $ 42,821 $ 2,676 $ 26,297 $ 1,458 Restricted cash in other noncurrent assets 2,424 1,387 391 252 Statements of Cash Flow Cash, cash equivalents and restricted cash in the statement of cash flows $ 45,245 $ 4,063 $ 26,688 $ 1,710 Loans Receivable NJNG currently provides loans, with terms ranging from two to 10 years , to customers that elect to purchase and install certain energy-efficient equipment in accordance with its BPU-approved SAVEGREEN program. The loans are recognized at fair value on the Unaudited Condensed Consolidated Balance Sheets. The Company recorded $13 million and $12.4 million in other current assets and $36.3 million and $38.8 million in other noncurrent assets as of June 30, 2020 and September 30, 2019 , respectively, on the Unaudited Condensed Consolidated Balance Sheets, related to the loans. The Company regularly evaluates the credit quality and collection profile of its customers. If NJNG determines a loan is impaired, the basis of the loan would be subject to regulatory review for recovery. As of June 30, 2020 and September 30, 2019 , the Company has not recorded any impairments for SAVEGREEN loans. Software Costs The Company capitalizes certain costs, such as software design and configuration, coding, testing and installation, that are incurred to purchase or create and implement computer software for internal use. Capitalized costs include external costs of materials and services utilized in developing or obtaining internal-use software and payroll and payroll-related costs for employees who are directly associated with and devote time to the internal-use software project. Maintenance costs are expensed as incurred. Upgrades and enhancements are capitalized if it is probable that such expenditures will result in additional functionality. Amortization is recorded on the straight-line basis over the estimated useful lives. The Company capitalized $4.3 million and $1.7 million in other noncurrent assets and $12.2 million and $4.8 million in utility plant construction work in progress on the Unaudited Condensed Consolidated Balance Sheets at June 30, 2020 and September 30, 2019 , respectively. The Company recorded $1.9 million and $4.5 million in O&M on the Unaudited Condensed Consolidated Statements of Operations during the three and nine months ended June 30, 2020 , respectively and $3.7 million in O&M on the Unaudited Condensed Consolidated Statements of Operations during both the three and nine months ended June 30, 2019 . Accumulated Other Comprehensive Loss The following table presents the changes in the components of accumulated other comprehensive income (loss), net of related tax effects during the three months ended June 30, 2020 and 2019 : (Thousands) Investments in Equity Securities Cash Flow Hedges Postemployment Benefit Obligation Total Balance at March 31, 2020 $ — $ (9,711 ) $ (24,928 ) $ (34,639 ) Other comprehensive income (loss), net of tax Other comprehensive (loss) income, before reclassifications, net of tax of $0, $180, $0, $180 — (626 ) — (626 ) Amounts reclassified from accumulated other comprehensive loss, net of tax of $0, $0, $(191), $(191) — — 663 (1) 663 Net current-period other comprehensive income, net of tax of $0, $180, $(191), $(11) — (626 ) 663 37 Balance at June 30, 2020 $ — $ (10,337 ) $ (24,265 ) $ (34,602 ) Balance at March 31, 2019 $ — $ — $ (15,517 ) $ (15,517 ) Other comprehensive income (loss), net of tax Amounts reclassified from accumulated other comprehensive loss, net of tax of $0, $(118), $(118) — — 305 (1) 305 Balance at June 30, 2019 $ — $ — $ (15,212 ) $ (15,212 ) (1) Included in the computation of net periodic pension cost, a component of operations and maintenance expense on the Unaudited Condensed Consolidated Statements of Operations. The following table presents the changes in the components of accumulated other comprehensive income (loss), net of related tax effects during the nine months ended June 30, 2020 and 2019 : (Thousands) Investments in Equity Securities Cash Flow Hedges Postemployment Benefit Obligation Total Balance at September 30, 2019 $ — $ — $ (31,787 ) $ (31,787 ) Other comprehensive income (loss), net of tax Other comprehensive (loss) income, before reclassifications, net of tax of $0, $2,961, $(1,681), $1,280 — (10,337 ) 5,378 (4,959 ) Amounts reclassified from accumulated other comprehensive loss, net of tax of $0, $0, $(480), $(480) — — 2,144 (1) 2,144 Net current-period other comprehensive income, net of tax of $0, $2,961, $(2,161), $800 — (10,337 ) 7,522 (2,815 ) Balance at June 30, 2020 $ — $ (10,337 ) $ (24,265 ) $ (34,602 ) Balance at September 30, 2018 $ 3,446 $ — $ (16,056 ) $ (12,610 ) Other comprehensive income (loss), net of tax Amounts reclassified from accumulated other comprehensive income (loss), net of tax of $0, $(333), $(333) — — 844 (1) 844 Reclassification to retained earnings $ (3,446 ) (2) $ — $ (3,446 ) Balance at June 30, 2019 $ — $ — $ (15,212 ) $ (15,212 ) (1) Included in the computation of net periodic pension cost, a component of operations and maintenance expense on the Unaudited Condensed Consolidated Statements of Operations. (2) Due to the adoption of ASU No. 2016-01, an amendment to ASC 825, Financial Instruments . Reclassification Certain prior period amounts related to energy and other taxes on the Unaudited Condensed Consolidated Statements of Operations and prepaid expenses on the Unaudited Condensed Consolidated Balance Sheets and Unaudited Consolidated Condensed Statements of Cash Flows have been reclassified to conform to the current period presentation. Certain amounts related to software costs on the Unaudited Condensed Consolidated Balance Sheets have been reclassified to utility plant construction work in progress to conform to the current period presentation. Recently Adopted Updates to the Accounting Standards Codification Leases In February 2016, the FASB issued ASU No. 2016-02, an amendment to ASC 842, Leases , which, along with other ASU's containing minor amendments and technical corrections, provides for a comprehensive overhaul of the lease accounting model and changes the definition of a lease within the accounting literature. Under the new standard, all leases with an original term greater than one year are recorded on the balance sheet. The related asset is amortized straight-line over the term of the lease. Additional disclosures are required to provide transparency as to the amount, timing and uncertainty of cash flows arising from leasing activities. In January 2018, the FASB issued ASU No. 2018-01, a further amendment to ASC 842, Leases , which was introduced by ASU No. 2016-02, as discussed above. This update provides an optional practical expedient that allows companies to not evaluate existing or expired land easements that were not previously accounted for under Topic 840 as leases as of October 1, 2019. The Company adopted this practical expedient. In July 2018, the FASB issued ASU No. 2018-11, which provides an optional transition method to ASC 842 that allows the Company to recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption, if any. The Company elected this transition method and did not have any cumulative impact to the opening balance of retained earnings. The Company’s other practical expedient elections include the package of practical expedients whereby the Company was not required to reassess all of its leases identified, lease classifications and initial direct costs associated with leases. The Company also elected to not separate non-lease components from lease components and elected to exclude short-term leases from the recognition requirements of ASC 842. The Company did not elect the portfolio approach for the application of the discount rate and therefore applies a discount rate individually to each lease in its population. The Company adopted ASC 842 and all related amendments on October 1, 2019, using the modified retrospective transition method. The Company’s lease agreements primarily consist of commercial solar land leases, storage and capacity leases, equipment and real property leases, including land and office facility leases and office equipment and the sale-leaseback of its natural gas meters. The total right-of-use assets and operating lease liabilities recorded upon adoption were $67.1 million . Upon the acquisition of Leaf River, on October 11, 2019 , the Company adopted ASC 842 for Leaf River which resulted in additional right-of-use asset and lease liability of $21.6 million . Derivatives and Hedging In August 2017, the FASB issued ASU No. 2017-12, an amendment to ASC 815 , Derivatives and Hedging , which, along with other ASU's containing minor amendments and technical corrections, is intended to make targeted improvements to the accounting for hedging activities by better aligning an entity’s risk management activities and financial reporting for hedging relationships. These amendments modify the accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. Additionally, the amendments are intended to simplify the application of the hedge accounting guidance and provide relief to companies by easing certain hedge documentation requirements. The Company adopted this guidance on October 1, 2019. As October 1, 2019, the Company did not apply hedge accounting to its risk management activities, therefore the amendments did not have an impact on its financial position, results of operations or cash flows. In October 2018, the FASB issued ASU No. 2018-16, an amendment to ASC 815, Derivatives and Hedging , which permits the use of the Overnight Index Swap rate based on the Secured Overnight Financing Rate as an additional acceptable U.S. benchmark interest rate for hedge accounting purposes. The Company adopted this guidance on October 1, 2019. As the Company did not apply hedge accounting to any of its risk management activities as of October 1, 2019, the amendments did not have an impact on its financial position, results of operations or cash flows. Stock Compensation In June 2018, the FASB issued ASU No. 2018-07, an amendment to ASC 718, Compensation - Stock Compensation , which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees. The Company adopted this guidance on October 1, 2019. There was no impact to the Company's financial position, results of operations or cash flows. Financial Instruments In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments . This accounting standard provides clarification of guidance for financial instruments and makes narrow scope amendments related to various issues. The Company adopted this standard effective upon issuance. There was no impact to the Company's financial position, results of operations or cash flows as a result of its adoption. Reference Rate Reform In March 2020, the FASB issued ASU No. 2020-04, an amendment to ASC 848, Reference Rate Reform , which provides relief for companies preparing for discontinuation of interest rates such as LIBOR. The amendments in this update provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. The amendments in this update are elective and are effective upon the ASU issuance through December 31, 2022. There was no impact to the Company's financial position, results of operations or cash flows as a result of its adoption. Other Recent Updates to the Accounting Standards Codification Financial Instruments In June 2016, the FASB issued ASU No. 2016-13, an amendment to ASC 326, Financial Instruments - Credit Losses , which changes the impairment model for certain financial assets that have a contractual right to receive cash, including trade and loan receivables. The new model requires recognition based upon an estimation of expected credit losses rather than recognition of losses when it is probable that they have been incurred. An entity will apply the amendment through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The guidance is effective for the Company beginning October 1, 2020, with early adoption permitted. The Company is in the process of assessing the impact of the guidance on NJR's reserve methodologies and credit policies and procedures for any assets that could be impacted. The Company is currently evaluating the amendment and all subsequent amendments related to this topic, but does not expect that the pending adoption of this ASU will have a material effect on its consolidated financial statements and its disclosures since the majority of NJR's financial assets are short-term in nature, such as trade receivables. Fair Value In August 2018, the FASB issued ASU No. 2018-13, an amendment to ASC 820, Fair Value Measurement , which removes, modifies and adds to certain disclosure requirements of fair value measurements. Disclosure requirements removed include the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements. Modifications include considerations around the requirement to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse. The additions include the requirement to disclose changes in unrealized gains and losses for the period in other comprehensive income for recurring Level 3 fair value measurements held and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The guidance is effective for the Company beginning October 1, 2020, with early adoption permitted. Upon adoption, the amendments will be applied on a prospective or retrospective basis depending on the specific amendments’ transition requirements. The Company is currently evaluating the impact of the adoption of this ASU but does not expect that its pending adoption will have a material effect on its consolidated financial statements. The Company does not have either Level 3 fair value measurements or transfers between Level 1 or Level 2 in its current portfolios, and therefore, does not expect this ASU to have an impact on the Company's financial statements and disclosures. Compensation - Retirement Benefits In August 2018, the FASB issued ASU No. 2018-14, an amendment to ASC 715, Compensation - Retirement Benefits , which removes disclosures that no longer are considered cost-beneficial, clarifies the specific requirements of certain disclosures and adds new disclosure requirements identified as relevant. The guidance is effective for the Company beginning October 1, 2021, with early adoption permitted. Upon adoption, the amended presentation and disclosure guidance will be applied on a retrospective basis. The Company is continuing to evaluate the amendment to fully understand the impact on the Company's disclosures upon adoption but it is not expecting this ASU to materially affect the financial statements and disclosures. Income Taxes In December 2019, the FASB issued ASU No. 2019-12, an amendment to ASC 740, Income Taxes , which is intended to simplify the accounting for income taxes and changes the accounting for certain income tax transactions, among other minor improvements. The guidance is effective for the Company beginning October 1, 2021, with early adoption permitted. Upon adoption, the amendments will be applied on a prospective basis. The Company is currently evaluating the amendments to understand the impact on its financial position, results of operations, cash flows and disclosures upon adoption. Investments - Equity Method and Derivatives and Hedging In January 2020, the FASB issued ASU No. 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 . The update states that an entity is required to evaluate observable transactions that necessitate applying or discontinuing the equity method of accounting, when applying the measurement alternative in Topic 321. This evaluation occurs prior to applying or upon ceasing the equity method. The update also states that when applying paragraph 815-10-15-141(a) for forward contracts and purchased options, an entity is not required to assess whether the underlying securities will be accounted for under the equity method in accordance with Topic 323 or fair value method under Topic 825 upon settlement or exercise. The guidance is effective for the Company beginning October 1, 2021, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this ASU but does not expect that its pending adoption will have a material effect on its consolidated financial statements.

REVENUE

REVENUE	9 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE	3. REVENUE Revenue is recognized when a performance obligation is satisfied by transferring control of a product or service to a customer. Revenue is measured based on consideration specified in a contract with a customer using the output method of progress. The Company elected to apply the invoice practical expedient for recognizing revenue, whereby the amounts invoiced to customers represent the value to the customer and the Company’s performance completion as of the invoice date. Therefore, the Company does not disclose related unsatisfied performance obligations. The Company also elected the practical expedient to exclude from the transaction price all sales taxes that are assessed by a governmental authority and therefore presents sales tax net in operating revenues on the Unaudited Condensed Consolidated Statements of Operations. Below is a listing of performance obligations that arise from contracts with customers, along with details on the satisfaction of each performance obligation, the significant payment terms and the nature of the goods and services being transferred, by reporting segment and other business operations: Revenue Recognized Over Time: Segment Performance Obligation Description Natural Gas Distribution Natural gas utility sales NJNG's performance obligation is to provide natural gas to residential, commercial and industrial customers as demanded, based on regulated tariff rates, which are established by the BPU. Revenues from the sale of natural gas are recognized in the period that gas is delivered and consumed by customers, including an estimate for quantities consumed but not billed during the period. Payment is due each month for the previous month's deliveries. Natural gas sales to individual customers are based on meter readings, which are performed on a systematic basis throughout the billing period. The unbilled revenue estimates are based on estimated customer usage by customer type, weather effects and the most current tariff rates. NJNG is entitled to be compensated for performance completed until service is terminated. Customers may elect to purchase the natural gas commodity from NJNG or may contract separately to purchase natural gas directly from third-party suppliers. As NJNG is acting as an agent on behalf of the third-party supplier, revenue is recorded for the delivery of natural gas to the customer. Clean Energy Ventures Commercial solar and wind electricity Clean Energy Ventures operates wholly-owned solar projects that recognize revenue as electricity is generated and transferred to the customer. The performance obligation is to provide electricity to the customer in accordance with contract terms or the interconnection agreement and is satisfied upon transfer of electricity generated. All wind assets were sold as of February 2019. Revenue is recognized as invoiced and the payment is due each month for the previous month's services. Clean Energy Ventures Residential solar electricity Clean Energy Ventures provides access to residential rooftop and ground-mount solar equipment to customers who then pay the Company a monthly fee. The performance obligation is to provide electricity to the customer based on generation from the underlying residential solar asset and is satisfied upon transfer of electricity generated. Revenue is derived from the contract terms and is recognized as invoiced, with the payment due each month for the previous month's services. Energy Services Natural gas services The performance obligation of Energy Services is to provide the customer transportation, storage and asset management services on an as-needed basis. Energy Services generates revenue through management fees, demand charges, reservation fees and transportation charges centered around the buying and selling of the natural gas commodity, representing one series of distinct performance obligations. Revenue is recognized based upon the underlying natural gas quantities physically delivered and the customer obtaining control. Energy Services invoices customers on a monthly basis in line with the terms of the contract and based on the services provided. Payment is due each month for the previous month's invoiced services. Midstream Natural gas services The performance obligation of Midstream is to provide the customer with storage and transportation services. Midstream generates revenues from firm storage contracts and transportation contracts, related usage fees for the use of storage space, injection and withdrawal at the storage facility and the delivery of natural gas to customers. Revenue is recognized over time as our customers receive the benefits of our service as it is performed on their behalf using an output method based on actual deliveries. Demand fees are recognized as revenue over the term of the related agreement. Home Services and Other Service contracts Home Services enters into service contracts with homeowners to provide maintenance and replacement services of applicable heating, cooling or ventilation equipment. All services provided relate to a distinct performance obligation which is to provide services for the specific equipment over the term of the contract. Revenue is recognized on a straight-line basis over the term of the contract and payment is due upon receipt of the invoice. Revenue Recognized at a Point in Time: Midstream Natural gas services The performance obligation of Midstream is to provide the customer with storage and transportation services. Midstream generates revenues from hub services for the use of storage space, injection and withdrawal from the storage facility. Hub services include park and loan transactions and wheeling. Home Services and Other Installations Home Services installs appliances, including but not limited to, furnaces, air conditioning units, boilers and generators to customers. The distinct performance obligation is the installation of the contracted appliance, which is satisfied at the point in time the item is installed. Disaggregated revenues from contracts with customers by product line and by reporting segment and other business operations during the three months ended June 30, 2020 , is as follows: (Thousands) Natural Gas Distribution Clean Energy Ventures Energy Services Midstream Home Services and Other Total 2020 Natural gas utility sales $ 124,888 — — — — $ 124,888 Wholesale natural gas services — — 3,536 11,863 — 15,399 Service contracts — — — — 8,126 8,126 Installations and maintenance — — — — 4,243 4,243 Electricity sales — 5,294 — — — 5,294 Eliminations (1) — — — (720 ) (206 ) (926 ) Revenues from contracts with customers 124,888 5,294 3,536 11,143 12,163 157,024 Alternative revenue programs (2,665 ) — — — — (2,665 ) Derivative Instruments 6,309 8,102 (2) 130,007 — — 144,418 Eliminations (1) — — 197 — — 197 Revenues out of scope 3,644 8,102 130,204 — — 141,950 Total operating revenues $ 128,532 13,396 133,740 11,143 12,163 $ 298,974 2019 Natural gas utility sales $ 115,525 — — — — $ 115,525 Wholesale natural gas services — — 3,876 — — 3,876 Service contracts — — — — 7,890 7,890 Installations and maintenance — — — — 5,193 5,193 Electricity sales — 4,745 — — — 4,745 Eliminations (1) — — — — (456 ) (456 ) Revenues from contracts with customers 115,525 4,745 3,876 — 12,627 136,773 Alternative revenue programs 2,025 — — — — 2,025 Derivative Instruments 3,232 6,705 (2) 286,145 — — 296,082 Eliminations (1) — — 62 — — 62 Revenues out of scope 5,257 6,705 286,207 — — 298,169 Total operating revenues $ 120,782 11,450 290,083 — 12,627 $ 434,942 (1) Consists of transactions between subsidiaries that are eliminated in consolidation. (2) Includes SREC revenue. Disaggregated revenues from contracts with customers by product line and by reporting segment and other business operations during the nine months ended June 30, 2020 and 2019 , is as follows: (Thousands) Natural Gas Distribution Clean Energy Ventures Energy Services Midstream Home Services and Other Total 2020 Natural gas utility sales $ 611,650 — — — — $ 611,650 Natural gas services — — 20,491 32,011 — 52,502 Service contracts — — — — 24,237 24,237 Installations and maintenance — — — — 13,404 13,404 Electricity sales — 13,770 — — — 13,770 Eliminations (1) — — — (2,062 ) (947 ) (3,009 ) Revenues from contracts with customers 611,650 13,770 20,491 29,949 36,694 712,554 Alternative revenue programs 17,465 — — — — 17,465 Derivative Instruments 16,260 11,833 (2) 797,168 — — 825,261 Eliminations (1) — — (1,656 ) — — (1,656 ) Revenues out of scope 33,725 11,833 795,512 — — 841,070 Total operating revenues $ 645,375 25,603 816,003 29,949 36,694 $ 1,553,624 2019 Natural gas utility sales $ 598,676 — — — — $ 598,676 Natural gas services — — 26,204 — — 26,204 Service contracts — — — — 23,533 23,533 Installations and maintenance — — — — 14,373 14,373 Electricity sales — 16,944 — — — 16,944 Eliminations (1) — — — — (1,653 ) (1,653 ) Revenues from contracts with customers 598,676 16,944 26,204 — 36,253 678,077 Alternative revenue programs 9,059 — — — — 9,059 Derivative Instruments 14,432 20,763 (2) 1,398,909 — — 1,434,104 Eliminations (1) — — (8,276 ) — — (8,276 ) Revenues out of scope 23,491 20,763 1,390,633 — — 1,434,887 Total operating revenues $ 622,167 37,707 1,416,837 — 36,253 $ 2,112,964 (1) Consists of transactions between subsidiaries that are eliminated in consolidation. (2) Includes SREC revenue. Disaggregated revenues from contracts with customers by customer type and by reporting segment and other business operations during the three months ended June 30, 2020 and 2019 , is as follows: (Thousands) Natural Gas Distribution Clean Energy Ventures Energy Services Midstream Home Services and Other Total 2020 Residential $ 89,095 2,587 — — 11,845 $ 103,527 Commercial and industrial 20,050 2,707 3,536 11,143 318 37,754 Firm transportation 14,331 — — — — 14,331 Interruptible and off-tariff 1,412 — — — — 1,412 Revenues out of scope 3,644 8,102 130,204 — — 141,950 Total operating revenues $ 128,532 13,396 133,740 11,143 12,163 $ 298,974 2019 Residential $ 63,984 2,304 — — 12,388 $ 78,676 Commercial and industrial 37,511 2,441 3,876 — 239 44,067 Firm transportation 12,296 — — — — 12,296 Interruptible and off-tariff 1,734 — — — — 1,734 Revenues out of scope 5,257 6,705 286,207 — — 298,169 Total operating revenues $ 120,782 11,450 290,083 — 12,627 $ 434,942 Disaggregated revenues from contracts with customers by customer type and by reporting segment and other business operations during the nine months ended June 30, 2020 and 2019 , is as follows: (Thousands) Natural Gas Distribution Clean Energy Ventures Energy Services Midstream Home Services and Other Total 2020 Residential $ 442,093 7,516 — — 35,955 $ 485,564 Commercial and industrial 107,107 6,254 20,491 29,949 739 164,540 Firm transportation 58,043 — — — — 58,043 Interruptible and off-tariff 4,407 — — — — 4,407 Revenues out of scope 33,725 11,833 795,512 — — 841,070 Total operating revenues $ 645,375 25,603 816,003 29,949 36,694 $ 1,553,624 2019 Residential $ 402,192 6,627 — — 35,522 $ 444,341 Commercial and industrial 139,691 10,317 26,204 — 731 176,943 Firm transportation 52,006 — — — — 52,006 Interruptible and off-tariff 4,787 — — — — 4,787 Revenues out of scope 23,491 20,763 1,390,633 — — 1,434,887 Total operating revenues $ 622,167 37,707 1,416,837 — 36,253 $ 2,112,964 Customer Accounts Receivable/Credit Balances and Deposits The timing of revenue recognition, customer billings and cash collections resulting in accounts receivables, billed and unbilled, and customers’ credit balances and deposits on the Unaudited Condensed Consolidated Balance Sheets during the nine months ended June 30, 2020 , are as follows: Customer Accounts Receivable Customers' Credit (Thousands) Billed Unbilled Balances and Deposits Balance as of October 1, 2019 $ 139,263 $ 6,510 $ 27,116 Increase (decrease) 3,796 2,228 (7,060 ) Balance as of June 30, 2020 $ 143,059 $ 8,738 $ 20,056 The following table provides information about receivables, which are included within accounts receivable, billed and unbilled, and customers’ credit balances and deposits, respectively, on the Unaudited Condensed Consolidated Balance Sheets as of June 30, 2020 : (Thousands) Natural Gas Distribution Clean Energy Ventures Energy Services Midstream Home Services and Other Total Customer accounts receivable Billed $ 78,370 3,469 55,364 3,828 2,028 $ 143,059 Unbilled 8,738 — — — — 8,738 Customers' credit balances and deposits (20,056 ) — — — — (20,056 ) Total $ 67,052 3,469 55,364 3,828 2,028 $ 131,741

REGULATION

REGULATION	9 Months Ended
	Jun. 30, 2020
Regulated Operations [Abstract]
REGULATION	4. REGULATION NJNG is subject to cost-based regulation, therefore, it is permitted to recover authorized operating expenses and earn a reasonable return on its utility capital investments based on the BPU's approval. The impact of the ratemaking process and decisions authorized by the BPU allows NJNG to capitalize or defer certain costs that are expected to be recovered from its customers as regulatory assets and to recognize certain obligations representing amounts that are probable future expenditures as regulatory liabilities in accordance with accounting guidance applicable to regulated operations. NJNG's recovery of costs is facilitated through its base rates, BGSS and other regulatory tariff riders. NJNG is required to make annual filings to the BPU for review of its BGSS, CIP and various other programs and related rates. Annual rate changes are typically requested to be effective at the beginning of the following fiscal year. All rate and program changes are subject to proper notification and BPU review and approval. In addition, NJNG is permitted to implement certain BGSS rate changes on a provisional basis with proper notification to the BPU. Regulatory assets and liabilities included on the Unaudited Condensed Consolidated Balance Sheets are comprised of the following: (Thousands) June 30, September 30, Regulatory assets-current New Jersey Clean Energy Program $ 17,062 $ 15,468 Under-recovered gas costs — 9,506 Conservation Incentive Program 20,836 3,371 Derivatives at fair value, net 9,845 4,526 Other 4,508 — Total current regulatory assets $ 52,251 $ 32,871 Regulatory assets-noncurrent Environmental remediation costs Expended, net of recoveries $ 36,053 $ 38,351 Liability for future expenditures 128,886 131,080 Deferred income taxes 22,477 19,631 Derivatives at fair value, net — 486 SAVEGREEN 15,229 10,201 Postemployment and other benefit costs 161,847 212,461 Deferred storm damage costs 7,058 8,687 Cost of removal 62,831 65,660 Other noncurrent regulatory assets 16,720 10,080 Total noncurrent regulatory assets $ 451,101 $ 496,637 Regulatory liabilities-current Over-recovered gas costs 6,774 — Total current regulatory liabilities $ 6,774 $ — Regulatory liabilities-noncurrent Tax Act impact (1) $ 196,705 $ 200,417 New Jersey Clean Energy Program 128 197 Other noncurrent regulatory liabilities 448 1,821 Total noncurrent regulatory liabilities $ 197,281 $ 202,435 (1) Reflects the re-measurement and subsequent amortization of NJNG's net deferred tax liabilities as a result of the change in federal tax rates enacted in the Tax Act. Regulatory filings and/or actions that occurred during the current fiscal year include the following: • On October 25, 2019 , the BPU approved NJNG’s annual filing to increase its EE recovery rate, which resulted in an annual recovery of approximately $11.3 million , effective November 1, 2019 . • On November 13, 2019 , the BPU issued an order adopting a stipulation of settlement approving a $62.2 million increase to base rates, effective on November 15, 2019 . The increase includes an overall rate of return on rate base of 6.95 percent , return on common equity of 9.6 percent , a common equity ratio of 54 percent and a depreciation rate of 2.78 percent . • On March 16, 2020 , a stipulation was signed in NJNG's annual SBC application which included an increase in the RAC rate of $1.2 million annually and a decrease to the NJCEP factor of $600,000 . The stipulation is pending BPU approval. • On March 30, 2020 , NJNG filed a petition with the BPU requesting a base rate increase of approximately $7.4 million for the recovery associated with NJ RISE and SAFE II capital investments cost of approximately $57.9 million made through June 30, 2020 . On July 24, 2020, the Company updated this filing for actual information through June 30, 2020 and the revised rate increase requested is $7.1 million based on $55.1 million of actual capital investments. Changes to base rates are anticipated to be effective October 1, 2020 . • On May 29, 2020 , NJNG filed its annual petition with the BPU to decrease its BGSS rate for residential and small commercial customers. The rate changes will result in a $20.4 million decrease to the annual revenues credited to BGSS, a $3.9 million annual decrease related to its balancing charge, as well as changes to CIP rates, which will result in a $22.3 million annual recovery increase, anticipated to be effective October 1, 2020 . • On May 29, 2020 , NJNG filed a petition with the BPU to increase its EE recovery rate, which will result in an annual decrease of approximately $70,000 , anticipated to be effective October 1, 2020. • On June 25, 2020 , NJNG filed its annual USF compliance filing proposing a decrease to the statewide USF rate, which will result in the annual recovery decreasing by approximately $400,000 , to be effective October 1, 2020 . • On July 2, 2020, the BPU issued an order which authorized New Jersey utilities to create a regulatory asset by deferring incremental COVID-19 related costs and required a related quarterly report be filed for the COVID-19-related costs and savings incurred. Regulatory assets at Adelphia, not included in the table above, were immaterial as of June 30, 2020 .

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	5. DERIVATIVE INSTRUMENTS The Company is subject primarily to commodity price risk due to fluctuations in the market price of natural gas, SRECs and electricity. To manage this risk, the Company enters into a variety of derivative instruments including, but not limited to, futures contracts, physical forward contracts, financial options and swaps to economically hedge the commodity price risk associated with its existing and anticipated commitments to purchase and sell natural gas, SRECs and electricity. In addition, the Company is exposed to foreign currency and interest rate risk and may utilize foreign currency derivatives to hedge Canadian dollar denominated gas purchases and/or sales and interest rate derivatives to reduce exposure to fluctuations in interest rates. All of these types of contracts are accounted for as derivatives. Accordingly, all of the financial and certain of the Company's physical derivative instruments are recorded at fair value on the Unaudited Condensed Consolidated Balance Sheets. For a more detailed discussion of the Company's fair value measurement policies and level disclosures associated with NJR's derivative instruments, see Note 6. Fair Value . Energy Services Energy Services chooses not to designate its financial commodity and physical forward commodity derivatives as accounting hedges or to elect NPNS. The changes in the fair value of these derivatives are recorded as a component of gas purchases or operating revenues, as appropriate for Energy Services, on the Unaudited Condensed Consolidated Statements of Operations as unrealized gains or losses. For Energy Services at settlement, realized gains and losses on all financial derivative instruments are recognized as a component of gas purchases and realized gains and losses on all physical derivatives follow the presentation of the related unrealized gains and losses as a component of either gas purchases or operating revenues. Energy Services also enters into natural gas transactions in Canada and, consequently, is exposed to fluctuations in the value of Canadian currency relative to the U.S. dollar. Energy Services may utilize foreign currency derivatives to lock in the exchange rates associated with natural gas transactions denominated in Canadian currency. The derivatives may include currency forwards, futures, or swaps and are accounted for as derivatives. These derivatives are typically used to hedge demand fee payments on pipeline capacity, storage and gas purchase agreements. As a result of Energy Services entering into transactions to borrow natural gas, commonly referred to as “park and loans,” an embedded derivative is recognized relating to differences between the fair value of the amount borrowed and the fair value of the amount that will ultimately be repaid, based on changes in the forward price for natural gas prices at the borrowed location over the contract term. This embedded derivative is accounted for as a forward sale in the month in which the repayment of the borrowed gas is expected to occur, and is considered a derivative transaction that is recorded at fair value on the Unaudited Condensed Consolidated Balance Sheets, with changes in value recognized in current period earnings. Expected production of SRECs is hedged through the use of forward and futures contracts. All contracts require the Company to physically deliver SRECs through the transfer of certificates as per contractual settlement schedules. Energy Services recognizes changes in the fair value of these derivatives as a component of operating revenues. Upon settlement of the contract, the related revenue is recognized when the SREC is transferred to the counterparty. Natural Gas Distribution Changes in fair value of NJNG's financial commodity derivatives are recorded as a component of regulatory assets or liabilities on the Unaudited Condensed Consolidated Balance Sheets. The Company elects NPNS accounting treatment on all physical commodity contracts that NJNG entered into on or before December 31, 2015, and accounts for these contracts on an accrual basis. Accordingly, physical natural gas purchases are recognized in regulatory assets or liabilities on the Unaudited Condensed Consolidated Balance Sheets when the contract settles and the natural gas is delivered. The average cost of natural gas is charged to expense in the current period earnings based on the BGSS factor times the therm sales. Effective for contracts executed on or after January 1, 2016, NJNG no longer elects NPNS accounting treatment on all physical forward commodity contracts. However, since NPNS is a contract-by-contract election, where it makes sense to do so, NJNG can and may elect certain contracts to be normal. Because NJNG recovers these amounts through future BGSS rates as increases or decreases to the cost of natural gas in NJNG’s tariff for gas service, the changes in fair value of these contracts are deferred as a component of regulatory assets or liabilities on the Unaudited Condensed Consolidated Balance Sheets. In February 2020 and March 2020, NJNG entered into treasury lock transactions to fix the benchmark treasury rate associated with a forecasted debt issuance expected during the fiscal year. The change in fair value of NJNG's treasury lock agreement is recorded as a component of regulatory assets or liabilities on the Unaudited Condensed Consolidated Balance Sheets since NJNG believes that the market value upon settlement will be reflected in future rates. Upon settlement, any gain or loss will be amortized in earnings over the life of the future debt issuance as a component of interest expense on the Consolidated Statements of Operations. Clean Energy Ventures The Company elects NPNS accounting treatment on PPA contracts that Clean Energy Ventures enters into that meet the definition of a derivative and accounts for the contract on an accrual basis. Accordingly, electricity sales are recognized in revenues throughout the term of the PPA as electricity is delivered. NPNS is a contract-by-contract election and where it makes sense to do so, the Company can and may elect certain contracts to be normal. Home Services and Other In January 2018 , NJR entered into a variable-for-fixed interest rate swap on its existing $100 million variable rate term loan, which fixed the variable rate at 2.84 percent . The swap terminated on August 16, 2019 , which coincided with the maturity of the debt. The change in the fair value of the interest rate swap was recorded as a component of interest expense on the Unaudited Condensed Consolidated Statements of Operations. In February 2020 and March 2020 , NJR entered into treasury lock transactions, designated as cash flow hedges, to fix the benchmark treasury rate associated with a forecasted debt issuance expected during the fiscal year. The treasury lock transaction is recorded as a derivative asset or liability at fair value on the Unaudited Condensed Consolidated Balance Sheets. Upon settlement, any gain or loss will be amortized in earnings over the life of the future debt issuance as a component of interest expense on the Consolidated Statements of Operations. Fair Value of Derivatives The following table presents the fair value of NJR's derivative assets and liabilities recognized on the Unaudited Condensed Consolidated Balance Sheets as of: Fair Value June 30, 2020 September 30, 2019 (Thousands) Balance Sheet Location Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Derivatives not designated as hedging instruments: Natural Gas Distribution: Physical commodity contracts Derivatives - current $ 66 $ 133 $ 67 $ 245 Financial commodity contracts Derivatives - current — 190 382 570 Interest rate contracts Derivatives - current — 5,056 — — Energy Services: Physical commodity contracts Derivatives - current 5,440 17,242 6,847 27,540 Derivatives - noncurrent 2,671 22,448 1,710 12,641 Financial commodity contracts Derivatives - current 23,852 13,447 17,806 29,057 Derivatives - noncurrent 3,647 1,129 5,716 6,105 Foreign currency contracts Derivatives - current 9 230 1 211 Derivatives - noncurrent 29 23 — 75 Derivatives designated as hedging instruments: Home Services and Other: Interest rate contracts Derivatives - current — 10,796 — — Total fair value of derivatives $ 35,714 $ 70,694 $ 32,529 $ 76,444 Offsetting of Derivatives The Company transacts under master netting arrangements or equivalent agreements that allow it to offset derivative assets and liabilities with the same counterparty. However, the Company’s policy is to present its derivative assets and liabilities on a gross basis at the contract level unit of account on the Unaudited Condensed Consolidated Balance Sheets. The following table summarizes the reported gross amounts, the amounts that the Company has the right to offset but elects not to, financial collateral, as well as the net amounts the Company could present on the Unaudited Condensed Consolidated Balance Sheets but elects not to. (Thousands) Amounts Presented on Balance Sheets (1) Offsetting Derivative Instruments (2) Financial Collateral Received/Pledged (3) Net Amounts (4) As of June 30, 2020: Derivative assets: Energy Services Physical commodity contracts $ 8,111 $ (3,097 ) $ (200 ) $ 4,814 Financial commodity contracts 27,499 (14,576 ) — 12,923 Foreign currency contracts 38 (38 ) — — Total Energy Services $ 35,648 $ (17,711 ) $ (200 ) $ 17,737 Natural Gas Distribution Physical commodity contracts $ 66 $ (39 ) $ — $ 27 Total Natural Gas Distribution $ 66 $ (39 ) $ — $ 27 Derivative liabilities: Energy Services Physical commodity contracts $ 39,690 $ (3,097 ) $ — $ 36,593 Financial commodity contracts 14,576 (14,576 ) — — Foreign currency contracts 253 (38 ) — 215 Total Energy Services $ 54,519 $ (17,711 ) $ — $ 36,808 Natural Gas Distribution Physical commodity contracts $ 133 $ (39 ) $ — $ 94 Financial commodity contracts 190 — (190 ) — Interest rate contracts 5,056 — — 5,056 Total Natural Gas Distribution $ 5,379 $ (39 ) $ (190 ) $ 5,150 Home Services and Other Interest rate contracts $ 10,796 $ — $ — $ 10,796 Total Home Services and Other $ 10,796 $ — $ — $ 10,796 As of September 30, 2019: Derivative assets: Energy Services Physical commodity contracts $ 8,557 $ (2,906 ) $ (200 ) $ 5,451 Financial commodity contracts 23,522 (19,646 ) — 3,876 Foreign currency contracts 1 (1 ) — — Total Energy Services $ 32,080 $ (22,553 ) $ (200 ) $ 9,327 Natural Gas Distribution Physical commodity contracts $ 67 $ (9 ) $ — $ 58 Financial commodity contracts 382 (382 ) — — Total Natural Gas Distribution $ 449 $ (391 ) $ — $ 58 Derivative liabilities: Energy Services Physical commodity contracts $ 40,181 $ (2,906 ) $ — $ 37,275 Financial commodity contracts 35,162 (19,646 ) (15,516 ) — Foreign currency contracts 286 (1 ) — 285 Total Energy Services $ 75,629 $ (22,553 ) $ (15,516 ) $ 37,560 Natural Gas Distribution Physical commodity contracts $ 245 $ (9 ) $ — $ 236 Financial commodity contracts 570 (382 ) (188 ) — Total Natural Gas Distribution $ 815 $ (391 ) $ (188 ) $ 236 (1) Derivative assets and liabilities are presented on a gross basis on the balance sheet as the Company does not elect balance sheet offsetting under ASC 210-20. (2) Includes transactions with NAESB netting election, transactions held by FCMs with net margining and transactions with ISDA netting. (3) Financial collateral includes cash balances at FCMs as well as cash received from or pledged to other counterparties. (4) Net amounts represent presentation of derivative assets and liabilities if the Company were to elect balance sheet offsetting under ASC 210-20. Energy Services utilizes financial derivatives to economically hedge the gross margin associated with the purchase of physical gas to be used for storage injection and its subsequent sale at a later date. The gains or (losses) on the financial transactions that are economic hedges of the cost of the purchased gas are recognized prior to the gains or (losses) on the physical transaction, which are recognized in earnings when the natural gas is delivered. Therefore, mismatches between the timing of the recognition of realized gains or (losses) on the financial derivative instruments and gains or (losses) associated with the actual sale of the natural gas that is being economically hedged along with fair value changes in derivative instruments, creates volatility in the results of Energy Services, although the Company's intended economic results relating to the entire transaction are unaffected. The following table presents the effect of derivative instruments recognized on the Unaudited Condensed Consolidated Statements of Operations for the periods set forth below: (Thousands) Location of gain (loss) recognized in income on derivatives Amount of gain (loss) recognized in income on derivatives Three Months Ended Nine Months Ended June 30, June 30, Derivatives not designated as hedging instruments: 2020 2019 2020 2019 Energy Services: Physical commodity contracts Operating revenues $ (18,061 ) $ 1,435 $ 3,871 $ 74 Physical commodity contracts Gas purchases 1,014 2,392 (2,288 ) 266 Financial commodity contracts Gas purchases 2,408 22,919 71,820 17,732 Foreign currency contracts Gas purchases 181 37 (179 ) (188 ) Home Services and Other: Interest rate contracts Interest expense — (43 ) (228 ) Total unrealized and realized gains (losses) $ (14,458 ) $ 26,740 $ 73,224 $ 17,656 NJNG’s derivative contracts are part of the Company's risk management activities that relate to its natural gas purchases and BGSS incentive programs. At settlement, the resulting gains and/or losses are payable to or recoverable from utility customers and are deferred in regulatory assets or liabilities resulting in no impact to earnings. The following table reflects the (losses) gains associated with NJNG's derivative instruments for the periods set forth below: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) 2020 2019 2020 2019 Natural Gas Distribution: Physical commodity contracts $ 308 $ 812 $ 1,357 $ 5,225 Financial commodity contracts 1,029 (10,368 ) (11,493 ) (7,129 ) Interest rate contracts 1,636 — (5,056 ) — Total unrealized and realized (losses) gains $ 2,973 $ (9,556 ) $ (15,192 ) $ (1,904 ) NJR designates its treasury lock contracts as cash flow hedges, therefore, changes in fair value of the effective portion of the hedges are recorded in OCI and upon settlement of the contracts, realized gains and (losses) are reclassified from OCI to interest expense on the Unaudited Condensed Consolidated Statements of Operations. The following table reflects the effect of derivative instruments designated as cash flow hedges in OCI for the periods set forth below: (Thousands) Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) Amount of Gain or (Loss) Reclassified from OCI into Income (Effective Portion) Three Months Ended Three Months Ended June 30, June 30, Derivatives in cash flow hedging relationships: 2020 2019 2020 2019 Interest rate contracts $ (807 ) $ — $ — $ — Nine Months Ended Nine Months Ended June 30, June 30, Derivatives in cash flow hedging relationships: 2020 2019 2020 2019 Interest rate contracts $ (13,299 ) $ — $ — $ — NJNG and Energy Services had the following outstanding long (short) derivatives as of: Volume (Bcf) June 30, September 30, Natural Gas Distribution Futures 18.8 27.6 Physical 10.3 11.6 Energy Services Futures (38.4 ) (29.6 ) Physical 12.6 44.5 Swaps (2.3 ) (5.0 ) Not included in the previous table are Energy Services' net notional amount of foreign currency transactions of approximately $6.4 million , notional amounts related to treasury lock transactions of approximately $60 million and $195 million at NJNG and NJR respectively, and 1,276,000 SRECs at Energy Services that were open as of June 30, 2020 . Broker Margin Futures exchanges have contract specific margin requirements that require the posting of cash or cash equivalents relating to traded contracts. Margin requirements consist of initial margin that is posted upon the initiation of a position, maintenance margin that is usually expressed as a percent of initial margin, and variation margin that fluctuates based on the daily marked-to-market relative to maintenance margin requirements. The Company maintains separate broker margin accounts for the Natural Gas Distribution and Energy Services segments. The balances are as follows: (Thousands) Balance Sheet Location June 30, September 30, Natural Gas Distribution Restricted broker margin accounts $ — $ 1,982 Accounts payable and other $ (219 ) $ — Energy Services Restricted broker margin accounts $ 52,211 $ 71,741 Wholesale Credit Risk NJNG, Energy Services, Clean Energy Ventures and Midstream are exposed to credit risk as a result of their sales/wholesale marketing activities. As a result of services performed or sold, the inherent volatility in the prices of natural gas commodities, derivatives, SRECs, electricity and RECs, the market value of contractual positions with individual counterparties could exceed established credit limits or collateral provided by those counterparties. If a counterparty fails to perform the obligations under its contract (e.g., failed to deliver or pay for natural gas, SRECs, electricity, RECs or Midstream services), then the Company could sustain a loss. NJR monitors and manages the credit risk of its wholesale operations through credit policies and procedures that management believes reduce overall credit risk. These policies include a review and evaluation of current and prospective counterparties' financial statements and/or credit ratings, daily monitoring of counterparties' credit limits and exposure, daily communication with commercial teams regarding credit status and the use of credit mitigation measures, such as collateral requirements and netting agreements. Examples of collateral include letters of credit and cash received for either prepayment or margin deposit. Collateral may be requested due to NJR's election not to extend credit or because exposure exceeds defined thresholds. Most of NJR's wholesale marketing contracts contain standard netting provisions. These contracts include those governed by ISDA and the NAESB. The netting provisions refer to payment netting, whereby receivables and payables with the same counterparty are offset and the resulting net amount is paid to the party to which it is due. Internally-rated exposure applies to counterparties that are not rated by S&P or Moody's. In these cases, the counterparty's or guarantor's financial statements are reviewed, and similar methodologies and ratios used by S&P and/or Moody's are applied to arrive at a substitute rating. Gross credit exposure is defined as the unrealized fair value of physical and financial derivative commodity contracts, plus any outstanding wholesale receivable for the value of natural gas delivered and/or financial derivative commodity contract that has settled for which payment has not yet been received. The following is a summary of gross credit exposures grouped by investment and noninvestment grade counterparties, as of June 30, 2020 . The amounts presented below have not been reduced by any collateral received or netting and exclude accounts receivable for NJNG retail natural gas sales and services and Clean Energy Ventures residential solar installations. (Thousands) Gross Credit Exposure Investment grade $ 126,026 Noninvestment grade 8,915 Internally rated investment grade 22,877 Internally rated noninvestment grade 12,319 Total $ 170,137 Conversely, certain of NJR's, NJNG's and Energy Services' derivative instruments are linked to agreements containing provisions that would require cash collateral payments from the Company if certain events occur. These provisions vary based upon the terms in individual counterparty agreements and can result in cash payments if NJNG's credit rating were to fall below its current level. Specifically, most, but not all, of these additional payments will be triggered if NJNG's debt is downgraded by the major credit agencies, regardless of investment grade status. In addition, some of these agreements include threshold amounts that would result in additional collateral payments if the values of derivative liabilities were to exceed the maximum values provided for in relevant counterparty agreements. Other provisions include payment features that are not specifically linked to ratings, but are based on certain financial metrics. Collateral amounts associated with any of these conditions are determined based on a sliding scale and are contingent upon the degree to which the Company's credit rating and/or financial metrics deteriorate, and the extent to which liability amounts exceed applicable threshold limits. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position on June 30, 2020 , was $15.9 million , for which the Company had not posted collateral. If all thresholds related to the credit-risk-related contingent features underlying these agreements had been invoked on June 30, 2020 , the Company would have been required to post an additional $15.9 million to its counterparties. These amounts differ from the respective net derivative liabilities reflected on the Unaudited Condensed Consolidated Balance Sheets because the agreements also include clauses, commonly known as “Rights of Offset,” that would permit the Company to offset its derivative assets against its derivative liabilities for determining additional collateral to be posted, as previously discussed.

FAIR VALUE

FAIR VALUE	9 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE	6. FAIR VALUE Fair Value of Assets and Liabilities The fair value of cash and cash equivalents, accounts receivable, current loan receivables, accounts payable, commercial paper and borrowings under revolving credit facilities are estimated to equal their carrying amounts due to the short maturity of those instruments. Non-current loan receivables are recorded at fair value in other noncurrent assets on the Unaudited Condensed Consolidated Balance Sheets. The estimated fair value of long-term debt, including current maturities, excluding capital leases, debt issuance costs and solar asset financing obligations, is as follows: (Thousands) June 30, September 30, Carrying value (1) (2) (3) (4) $ 1,492,845 $ 1,442,845 Fair market value $ 1,719,734 $ 1,568,864 (1) Excludes finance leases of $77.6 million and $35.4 million as of June 30, 2020 and September 30, 2019 , respectively. (2) Excludes solar asset financing obligations of $130.8 million and $91.4 million as of June 30, 2020 and September 30, 2019 , respectively. (3) Excludes NJNG's debt issuance costs of $9.2 million and $9 million as of June 30, 2020 and September 30, 2019 , respectively. (4) Excludes NJR's debt issuance costs of $1.5 million and $2 million as of June 30, 2020 and September 30, 2019 , respectively. Clean Energy Ventures enters into transactions to sell certain commercial solar assets and lease the assets back for a term specified in the lease. These transactions are considered financing obligations for accounting purposes and are recorded within long-term debt on the Unaudited Condensed Consolidated Balance Sheets. The estimated fair value of solar asset financing obligations as of June 30, 2020 and September 30, 2019 was $148.3 million and $98.6 million , respectively. The Company utilizes a discounted cash flow method to determine the fair value of its debt. Inputs include observable municipal and corporate yields, as appropriate for the maturity of the specific issue and the Company's credit rating. As of June 30, 2020 , NJR discloses its debt within Level 2 of the fair value hierarchy. Fair Value Hierarchy NJR applies fair value measurement guidance to its financial assets and liabilities, as appropriate, which include financial derivatives and physical commodity contracts qualifying as derivatives, investments in equity securities and other financial assets and liabilities. In addition, authoritative accounting literature prescribes the use of a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based on the source of the data used to develop the price inputs. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and the lowest priority to inputs that are based on unobservable market data and include the following: Level 1 Unadjusted quoted prices for identical assets or liabilities in active markets. NJR's Level 1 assets and liabilities include exchange traded natural gas futures and options contracts, listed equities and money market funds. Exchange traded futures and options contracts include all energy contracts traded on the NYMEX, CME and ICE that NJR refers to internally as basis swaps, fixed swaps, futures and financial options that are cleared through a FCM. Level 2 Other significant observable inputs such as interest rates or price data, including both commodity and basis pricing that is observed either directly or indirectly from publications or pricing services. NJR's Level 2 assets and liabilities include over-the-counter physical forward commodity contracts and swap contracts, SREC forward sales or derivatives that are initially valued using observable quotes and are subsequently adjusted to include time value, credit risk or estimated transport pricing components for which no basis price is available. Level 2 financial derivatives consist of transactions with non-FCM counterparties (basis swaps, fixed swaps and/or options). NJNG's treasury lock is also considered Level 2 as valuation is based on quoted market interest and swap rates as inputs to the valuation model. Inputs are verifiable and do not require significant management judgment. For some physical commodity contracts the Company utilizes transportation tariff rates that are publicly available and that it considers to be observable inputs that are equivalent to market data received from an independent source. There are no significant judgments or adjustments applied to the transportation tariff inputs and no market perspective is required. Even if the transportation tariff input were considered to be a “model,” it would still be considered to be a Level 2 input as the data is: • widely accepted and public; • non-proprietary and sourced from an independent third party; and • observable and published. These additional adjustments are generally not considered to be significant to the ultimate recognized values. Level 3 Inputs derived from a significant amount of unobservable market data. These include NJR's best estimate of fair value and are derived primarily through the use of internal valuation methodologies. Assets and liabilities measured at fair value on a recurring basis are summarized as follows: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Thousands) (Level 1) (Level 2) (Level 3) Total As of June 30, 2020: Assets: Physical commodity contracts $ — $ 8,177 $ — $ 8,177 Financial commodity contracts 25,349 2,150 — 27,499 Financial commodity contracts - foreign exchange — 38 — 38 Money market funds 36,172 — — 36,172 Other (1) 1,814 — — 1,814 Total assets at fair value $ 63,335 $ 10,365 $ — $ 73,700 Liabilities: Physical commodity contracts $ — $ 39,823 $ — $ 39,823 Financial commodity contracts 14,766 — — 14,766 Financial commodity contracts - foreign exchange — 253 — 253 Interest rate contracts — 15,852 — 15,852 Total liabilities at fair value $ 14,766 $ 55,928 $ — $ 70,694 As of September 30, 2019: Assets: Physical commodity contracts $ — $ 8,624 $ — $ 8,624 Financial commodity contracts 20,028 3,876 — 23,904 Financial commodity contracts - foreign exchange — 1 — 1 Other (1) 1,706 — — 1,706 Total assets at fair value $ 21,734 $ 12,501 $ — $ 34,235 Liabilities: Physical commodity contracts $ — $ 40,426 $ — $ 40,426 Financial commodity contracts 35,732 — — 35,732 Financial commodity contracts - foreign exchange — 286 — 286 Total liabilities at fair value $ 35,732 $ 40,712 $ — $ 76,444

INVESTMENTS IN EQUITY INVESTEES

INVESTMENTS IN EQUITY INVESTEES	9 Months Ended
	Jun. 30, 2020
Investments, All Other Investments [Abstract]
INVESTMENTS IN EQUITY INVESTEES	7. INVESTMENTS IN EQUITY INVESTEES NJR's investments in equity method investees include the following as of: (Thousands) June 30, September 30, Steckman Ridge $ 112,909 $ 114,428 PennEast (1) 92,891 85,840 Total $ 205,800 $ 200,268 (1) Includes a deferred tax component related to AFUDC equity of $4.6 million and $4.1 million for June 30, 2020 and September 30, 2019 , respectively. The Company, through its subsidiary NJR Pipeline Company holds a 50 percent ownership interest in Steckman Ridge, a storage facility that operates under market-based rates. NJR's investment in Steckman Ridge includes loans with a total outstanding principal balance of $70.4 million for both June 30, 2020 and September 30, 2019 . The loans accrue interest at a variable rate that resets quarterly and are due October 1, 2023 . NJNG and Energy Services have entered into storage and park and loan agreements with Steckman Ridge. In addition, NJNG and Energy Services are each party to a precedent capacity agreement with PennEast. See Note 16. Related Party Transactions for more information on these intercompany transactions. The Company, through its subsidiary NJR Pipeline Company, is a 20 percent investor in PennEast, a partnership whose purpose is to construct and operate a 120 -mile natural gas pipeline that will extend from northeast Pennsylvania to western New Jersey. PennEast received a Certificate of Public Convenience and Necessity for the project from FERC on January 19, 2018. On September 10, 2019, the United States Court of Appeals for the Third Circuit issued an order overturning the United States District Court for the District of New Jersey’s order granting PennEast condemnation and immediate access in accordance with the Natural Gas Act to certain properties in which the State of New Jersey holds an interest. A Petition for Rehearing was denied by the Third Circuit on November 5, 2019. On October 8, 2019, the NJDEP issued a letter indicating that it deemed PennEast’s freshwater wetlands permit application to be administratively incomplete and closed the matter without prejudice. On October 11, 2019, PennEast submitted a letter to the NJDEP objecting to its position that the application is administratively incomplete. PennEast's objections were rejected by the NJDEP on November 18, 2019. On October 4, 2019, PennEast filed a petition for Declaratory Order with FERC requesting an interpretation of the eminent domain authority of a FERC certificate holder under the Natural Gas Act. The Declaratory Order was granted on January 30, 2020. On January 30, 2020, PennEast filed an amendment with FERC to construct the PennEast pipeline in two phases. Phase one consists of construction of a 68 -mile pipeline in Pennsylvania from the eastern Marcellus Shale region in Luzerne County that would terminate in Northampton County. Phase two includes construction of the remaining original certificated route in Pennsylvania and New Jersey. Construction is expected to begin following approval by FERC of the phased approach and receipt of any remaining governmental and regulatory permits. On February 18, 2020, PennEast filed a writ of certiorari with the Supreme Court of the United States to review the September 10, 2019 Third Circuit decision. On June 29, 2020, the Supreme Court requested that the Solicitor General of the United States file a brief that expresses the views on the question of the use of eminent domain to acquire state owned lands for pipeline construction. The Company evaluated its investment in PennEast for an other-than-temporary impairment and determined an impairment charge was not necessary. It is reasonably possible that future unfavorable developments, such as a reduced likelihood of success from development options and legal outcomes, estimated increases in construction costs, increases in the discount rate, or further significant delays, could result in an impairment of our equity method investment. Also, the use of alternate judgments and assumptions could result in a different calculation of fair value, which could ultimately result in the recognition of an impairment charge in the Unaudited Condensed Consolidated Financial Statements.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	8. EARNINGS PER SHARE The following table presents the calculation of the Company's basic and diluted earnings per share for: Three Months Ended Nine Months Ended June 30, June 30, (Thousands, except per share amounts) 2020 2019 2020 2019 Net income, as reported $ (27,219 ) $ (8,402 ) $ 150,647 $ 151,419 Basic earnings per share Weighted average shares of common stock outstanding-basic 95,764 89,600 94,420 88,995 Basic earnings per common share $(0.28) $(0.09) $1.60 $1.70 Diluted earnings per share Weighted average shares of common stock outstanding-basic 95,764 89,600 94,420 88,995 Incremental shares (1) — — 298 407 Weighted average shares of common stock outstanding-diluted 95,764 89,600 94,718 89,402 Diluted earnings per common share (2) $(0.28) $(0.09) $1.59 $1.69 (1) C onsist primarily of unvested stock awards and performance shares. (2) There were anti-dilutive shares of 251,780 and 95,817 excluded from the calculation of diluted earnings per share related to the e quity forward sale agreement during the three and nine months ended June 30, 2020 , respectively. Since t here was a net loss for the three months ended June 30, 2020 and 2019 , incremental shares of 310,000 and 409,000 , respectively, were not included in the computation of diluted loss per common share, as their effect would have been anti-dilutive. There were no anti-dilutive shares excluded from the calculation of diluted earnings per share during the nine months ended June 30, 2019 .

DEBT

DEBT	9 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
DEBT	9. DEBT NJR and NJNG finance working capital requirements and capital expenditures through various short-term debt and long-term financing arrangements, including a commercial paper program and committed unsecured credit facilities. Credit Facilities On April 24, 2020 , NJR entered into a 364 -day $250 million revolving credit facility with an interest rate based on LIBOR plus 1.625 percent . After six months , all outstanding amounts under the credit facility will convert to a term loan and will be due on April 23, 2021 . Proceeds will be used to fund ongoing ordinary working capital requirements and other general corporate purposes. In connection with entry into this credit facility, all outstanding borrowings under NJR's December 13, 2019 , $150 million revolving line of credit facility were repaid. A summary of NJR's credit facility and NJNG's commercial paper program and credit facility are as follows: (Thousands) June 30, September 30, Expiration Dates NJR Bank revolving credit facilities (1) $ 425,000 $ 425,000 December 2023 Notes outstanding at end of period $ 416,300 $ 25,450 Weighted average interest rate at end of period 1.06 % 3.04 % Amount available at end of period (2) $ 244 $ 394,800 Bank revolving credit facilities (1) $ 250,000 $ — April 2021 Notes outstanding at end of period $ — $ — Weighted average interest rate at end of period — % — % Amount available at end of period (2) $ 250,000 $ — NJNG Bank revolving credit facilities (1) $ 250,000 $ 250,000 December 2023 Commercial paper outstanding at end of period $ — $ — Weighted average interest rate at end of period 0.25 % — % Amount available at end of period (3) $ 249,269 $ 249,269 (1) Committed credit facilities, which require commitment fees on the unused amounts. (2) Letters of credit outstanding total $8.5 million and $4.8 million for June 30, 2020 and September 30, 2019 , respectively, which reduces amount available by the same amount. (3) Letters of credit outstanding total $731,000 for both June 30, 2020 and September 30, 2019 , which reduces the amount available by the same amount. Amounts available under credit facilities are reduced by bank or commercial paper borrowings, as applicable, and any outstanding letters of credit. Neither NJNG nor the results of its operations are obligated or pledged to support the NJR credit or debt shelf facilities. On October 9, 2019 , NJR entered into a $350 million Bridge Facility, which was used primarily to finance the Leaf River acquisition. The Bridge Facility accrues interest at the LIBOR rate for a 1-month interest period plus 0.875 percent during the first 180 days, and 1.075 percent after 180 days. Loans under the Bridge Facility are required to be prepaid to the extent of new cash proceeds received upon the issuance of equity of NJR, the incurrence of indebtedness by NJR or its subsidiaries, the disposition of assets by NJR or its subsidiaries or upon other specified events, in each case subject to certain exceptions set forth in the Bridge Facility. As of June 30, 2020 , there were $137.1 million in borrowings remaining against the facility. The net proceeds from the December 2019 equity issuance were used to pay down the Bridge Facility. On July 23, 2020, the remaining $137.1 million in borrowings were repaid. Long-term Debt NJNG NJNG received $4 million and $9.9 million in December 2019 and 2018 , respectively, in connection with the sale-leaseback of its natural gas meters. NJNG records a capital lease obligation that is paid over the term of the lease and has the option to purchase the meters back at fair value upon expiration of the lease. NJNG exercised early purchase options with respect to certain outstanding meter leases by making final principal payments of $1.2 million and $1.1 million during the nine months ended June 30, 2020 and 2019 , respectively. On May 14, 2020 , NJNG entered into a Note Purchase Agreement for $125 million of its senior notes, of which $100 million were at an interest rate of 3.13 percent , maturing in 2050 , and $25 million were at an interest rate of 3.33 percent , maturing in 2060 . On June 30, 2020 , NJNG issued $50 million of the 3.13 percent senior notes due June 30, 2050 . On July 23, 2020 , NJNG issued the remaining $50 million of 3.13 percent senior notes due July 23, 2050 , and $25 million of 3.33 percent senior notes due July 23, 2060 . The senior notes are secured by an equal principal amount of NJNG’s FMBs issued under NJNG’s Mortgage Indenture. NJR On May 14, 2020 , NJR entered into a Note Purchase Agreement for $260 million of its senior notes, of which $130 million were at an interest rate of 3.5 percent , maturing in 2030 , and $130 million were at an interest rate of 3.6 percent , maturing in 2032 . On July 23, 2020 , NJR issued all $260 million of the senior notes. The senior notes are unsecured and guaranteed by certain unregulated subsidiaries of NJR. On April 29, 2020, NJR settled a treasury lock resulting in a $2.5 million loss, which was recorded to accumulated other comprehensive income on the Unaudited Condensed Consolidated Balance Sheets. When the related forecasted debt issuance occurs, the loss will be amortized to interest expense on the Unaudited Condensed Consolidated Statements of Operations. Clean Energy Ventures In June 2020, Clean Energy Ventures received proceeds of $42.9 million in connection with the sale-leaseback of three commercial solar projects. Clean Energy Ventures did no t receive proceeds related to the sale-leaseback of commercial solar assets during the nine months ended June 30, 2019 . Clean Energy Ventures enters into transactions to sell the commercial solar assets concurrent with agreements to lease the assets back over a period of five to 15

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	10. EMPLOYEE BENEFIT PLANS Pension and Other Postemployment Benefit Plans The components of the net periodic cost for pension benefits, including the Company's Pension Equalization Plan, and OPEB costs (principally health care and life insurance) for employees and covered dependents were as follows: Pension OPEB Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended June 30, June 30, June 30, June 30, (Thousands) 2020 2019 2020 2019 2020 2019 2020 2019 Service cost $ 2,056 $ 1,845 $ 6,167 $ 5,536 $ 1,213 $ 1,101 $ 3,640 $ 3,303 Interest cost 2,647 3,043 7,940 9,129 1,757 2,081 5,270 6,243 Expected return on plan assets (5,145 ) (4,763 ) (15,434 ) (14,290 ) (1,628 ) (1,379 ) (4,883 ) (4,137 ) Recognized actuarial loss 2,606 1,442 7,818 4,324 1,861 1,617 5,582 4,850 Prior service cost amortization 25 25 76 76 (49 ) (91 ) (148 ) (273 ) Net periodic benefit cost $ 2,189 $ 1,592 $ 6,567 $ 4,775 $ 3,154 $ 3,329 $ 9,461 $ 9,986 The Company does not expect to be required to make additional contributions to fund the pension plans during fiscal 2020 or 2021 based on current actuarial assumptions; however, funding requirements are uncertain and can depend significantly on changes in actuarial assumptions, returns on plan assets and changes in the demographics of eligible employees and covered dependents. In addition, as in the past, the Company may elect to make contributions in excess of the minimum required amount to the plans. There were no discretionary contributions made during the nine months ended June 30, 2020 and 2019 . There are no federal requirements to pre-fund OPEB benefits. However, the Company is required to fund certain amounts due to regulatory agreements with the BPU and estimates that it will contribute between $5 million and $10 million over each of the next five years . Additional contributions may be required based on market conditions and changes to assumptions. The Company's OPEB liability was revalued for changes related to the Affordable Care Act-mandated excise tax applicable to high-cost health plans, commonly known as the Cadillac Tax. The Company applied a practical expedient to remeasure the plan assets and obligations as of December 31, 2019, which was the nearest calendar month-end date. The impact of the revaluation of the OPEB liability was recorded as of January 1, 2020.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	11. INCOME TAXES ASC Topic 740, Income Taxes requires the use of an estimated annual effective tax rate for purposes of determining the income tax provision during interim reporting periods. In calculating its estimated annual effective tax rate, NJR considers forecasted annual pre-tax income and estimated permanent book versus tax differences, as well as investment tax credits associated with solar asset investment. For investment tax credits, the estimate is based on solar projects that are probable of being completed and placed in service during the current fiscal year based on the best information available at each reporting period. Adjustments to the effective tax rate and management's estimates will occur as information and assumptions change. Changes in tax laws or tax rates are recognized in the financial reporting period that includes the enactment date, the date in which the act is signed into law. In May 2019, the Company received a favorable ruling from the IRS regarding a change to its tax method of accounting for the capitalization of certain costs associated with self-constructed property placed in service during fiscal years prior to September 30, 2016. The self-constructed property to which these costs relate is considered qualified energy property as defined under the Internal Revenue Code. As such, the Company is eligible to claim a 30 percent ITC on the increase in the depreciable cost basis of the property through the filing of an amended tax return in the year of change. As a result of the favorable IRS ruling, in June 2019, the Company recorded a benefit from income taxes of approximately $10 million from the additional ITC recognized, net of deferred taxes. NJR evaluates its tax positions to determine the appropriate accounting and recognition of potential future obligations associated with unrecognized tax benefits. A tax benefit claimed, or expected to be claimed, on a tax return may be recognized if it is more likely than not that the position will be upheld upon examination by the applicable taxing authority. Interest and penalties related to unrecognized tax benefits, if any, are recognized within income tax expense and accrued interest, and penalties are recognized within other noncurrent liabilities on the Unaudited Condensed Consolidated Balance Sheets. As of June 30, 2020 , the Company had a reserve of $4.9 million for a portion of tax benefits that are uncertain at this time, which is included in deferred income taxes on the Unaudited Condensed Consolidated Balance Sheets. The tax benefits relate to fiscal tax years open to examination by the IRS and may be subject to subsequent adjustment. As of June 30, 2019 , there were no reserves associated with uncertain tax positions. Effective Tax Rate The forecasted effective tax rates were (1.2) percent and (4.6) percent , for the nine months ended June 30, 2020 and 2019 , respectively. The increase in the effective tax rate, when compared with the prior fiscal year, is due primarily to a combination of an increase in forecasted pre-tax income and a decrease in forecasted tax credits for the fiscal year ending September 30, 2020 . Forecasted tax credits, net of deferred income taxes, were $37.5 million and $46.3 million for fiscal 2020 and 2019 , respectively. To the extent there are discrete tax items that are not included in the forecasted effective tax rate, the actual effective tax rate will differ from the estimated annual effective tax rate. During the nine months ended June 30, 2020 and 2019 , discrete items totaled $2.3 million and $5.4 million , respectively, related to a revaluation of certain state deferred tax assets and liabilities as a result of a change in the New Jersey state apportionment factor and excess tax benefits associated with the vesting of share-based awards. NJR’s actual effective tax rate was (2.8) percent and (8.5) percent during the nine months ended June 30, 2020 and 2019 , respectively. CARES Act On March 27, 2020, the President of the United States signed the CARES Act, which is aimed at providing emergency assistance and health care for individuals, families, and businesses affected by the COVID-19 pandemic and generally supporting the U.S. economy. The CARES Act, among other things, includes several business tax provisions which include, but are not limited to modifications of federal net operating loss carrybacks and deductibility, changes to prior year refundable alternative minimum tax liabilities, increase of limitations on business interest deductions from 30 percent to 50 percent of earnings before interest, taxes, depreciation, and amortization, technical corrections of the classification of qualified improvement property making them eligible for bonus depreciation, increase of the limits on charitable contribution deductions from 10 percent to 25 percent of adjusted taxable income, modifications of the treatment of federal loans, loan guarantees, and other investments, suspension of industry specific excise taxes, deferral of the company portion of OASDI, and implementation of a refundable employee retention tax credit. The CARES Act provides for the delay in the required deposit of the employer portion of the OASDI payroll tax from the date of enactment through the end of 2020. Of the taxes that the Company can defer, 50 percent of the deferred taxes are required to be deposited by the end of 2021 and the remaining 50 percent are required to be deposited by the end of 2022. Additionally, The CARES Act provides a refundable tax credit, the employee retention tax credit, to certain employers who are ordered by a competent governmental authority to suspend or reduce business operations due to concern about the spread of COVID-19 or suffered a significant decline in the business during a calendar quarter during 2020 compared to the same calendar quarter during the previous year. As of June 30, 2020 , the Company deferred $1.3 million related to the employer portion of the OASDI tax. The Company is currently investigating the applicability of the Employee Retention Tax credit. Other Tax Items As of June 30, 2020 and September 30, 2019 , the Company had ITC carryforwards of approximately $184.7 million and $154.2 million , respectively, which each have a life of 20 years. When the Company carries back the federal net operating losses noted below, it expects to recapture investment tax credits totaling $24.1 million . These recaptured tax credits are in addition to the $184.7 million noted above and will be carried forward to offset future taxable income. The Company expects to utilize this entire carryforward, which would begin to expire in fiscal 2034. The Company had federal income tax net operating losses of approximately $134 million as of June 30, 2020 and September 30, 2019 , respectively. Federal net operating losses incurred before the implementation of the Tax Act can generally be carried back two years and forward 20 years and will begin to expire in fiscal 2036, with the remainder expiring by 2038. The Company expects to exercise its ability to carryback federal net operating losses to offset taxable income in prior periods. For the net operating losses it expects to carryback, the Company estimated the portion considered refundable and recorded receivables of approximately $22.8 million for both June 30, 2020 and September 30, 2019 , as a component of other noncurrent assets on the Unaudited Condensed Consolidated Balance Sheets. Upon filing amended federal income tax returns to carryback its remaining federal net operating losses the Company will recapture tax credits totaling $24.1 million , the Company will reduce its taxable income in those periods and recapture federal investment tax credits of the same amount that were previously utilized to offset taxable income. The Company had state income tax net operating losses of approximately $489.7 million and $340.2 million for June 30, 2020 and September 30, 2019 , respectively. These state net operating losses have varying carry-forward periods dictated by the state in which they were incurred. These state carry forward periods range from seven to 20 years and would begin to expire in fiscal 2021, with the majority expiring after 2035. The Company expects to utilize this entire carryforward, other than as described below. In February 2019 , Clean Energy Ventures finalized the sale of its remaining wind assets. As a result of the sale, it is more likely than not that a portion of certain state net operating loss carryforwards will not be realizable prior to their expiration. The Company had a valuation allowance of $1.8 million and $4 million for June 30, 2020 and September 30, 2019 , respectively, related to state net operating loss carryforwards in Montana, Iowa and Kansas. The remaining state income tax net operating losses are expected to be utilized prior to expiration. As a result of changes to filing requirements in the State of New Jersey that require tax returns filed for periods ending on or after July 31, 2019 be filed on a combined basis when part of an affiliated group, the Company recorded a benefit from income taxes of approximately $15.3 million during the nine months ended June 30, 2020 , resulting from the re-measurement of deferred income tax attributes. The Company also evaluated its New Jersey state net operating loss carryforwards on a post-apportionment basis and determined it is more likely than not that a portion of these net operating loss carryforwards may not be realizable prior to their expiration. As a result, the Company recorded a valuation allowance associated with New Jersey state net operating loss carryforwards of approximately $13.6 million as of June 30, 2020 . The Consolidated Appropriations Act extended the 30 percent ITC for solar property that is under construction on or before December 31, 2019. The credit will decline to 26 percent for property under construction during 2020 and to 22 percent for property under construction during 2021. For any property that is under construction before 2022, but not placed in service before 2024, the ITC will be reduced to 10 percent . Projects placed in service after December 31, 2019, may also qualify for a 30 percent federal ITC if five percent or more of the total costs of a solar property are incurred before the end of the applicable year and there are continuous efforts to advance towards completion of the project, based on the IRS guidance around ITC safe harbor determination. The Company has taken steps to preserve the current ITC rates for solar projects that are completed after the scheduled reduction in rates, in accordance with IRS guidance. As of June 30, 2020 , the IRS has an open examination of the Company's federal income tax return for fiscal 2016. All periods subsequent to those ended September 30, 2014 , are statutorily open for both state and federal examinations.

LEASES

LEASES	9 Months Ended
	Jun. 30, 2020
Leases [Abstract]
LEASES	12. LEASES Lessee Accounting The Company determines if an arrangement is a lease at inception based on whether the Company has the right to control the use of an identified asset, the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset and accounts for leases in accordance with ASC 842, Leases . Right-of-use assets represent the Company’s right to use the underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term, including payments at commencement that depend on an index or rate. Most leases in which the Company is the lessee do not have a readily determinable implicit rate, so an incremental borrowing rate, based on the information available at the lease commencement date, is utilized to determine the present value of lease payments. When a secured borrowing rate is not readily available, unsecured borrowing rates are adjusted for the effects of collateral to determine the incremental borrowing rate. The Company uses the implicit rate for agreements in which it is a lessor. The Company has not entered into any material agreements in which it is a lessor. Lease expense and lease income are recognized on a straight-line basis over the lease term for operating leases. For more information on the adoption of ASC 842, Leases , see Note 2. Summary of Significant Accounting Policies . The Company’s lease agreements primarily consist of commercial solar land leases, storage and capacity leases, equipment and real property, including land and office facilities, office equipment and the sale-leaseback of its natural gas meters. Certain leases contain escalation provisions for inflation metrics. The storage leases contain a variable payment component that relates to the change in the inflation metrics that are not known past the current payment period. These variable components of these lease payments are excluded from the lease payments that are used to determine the related right-of-use lease asset and liability. The variable portion of these leases are recognized as leasing expenses when they are incurred. The capacity lease payments are fully variable and based on the amount of gas stored in the storage caverns. Generally, the Company’s solar land leases terms are between 15 and 25 years and include options to extend the terms for multiple additional 5 to 10 year terms each. The Company’s office leases vary in duration, ranging from 1 to 25 years and may or may not include extension or early purchase options. The majority of the Company’s meter leases are for terms of 7 years with purchase options available prior to the end of the 7 year term. Equipment leases include general office equipment that also vary in duration, most are for a term of 5 years. The Company's storage and capacity leases have assumed terms of 50 years to coincide with the expected useful lives of the cavern assets with which the leases are associated. The Company's lease terms may include options to extend, purchase the leased asset or terminate a lease and they are included in the lease liability calculation when it is reasonably certain that those options will be exercised. The Company has elected an accounting policy that exempts leases with an original term of one year or less from the recognition requirements of ASC 842, Leases. The Company has lease agreements with lease and non-lease components and has elected the practical expedient to combine lease and non-lease components for certain classes of leases, such as office buildings, solar land leases and office equipment. Variable payments are not significant to the Company. The Company’s lease agreements do not contain any material residual value guarantees, material restrictions or material covenants. There are no material lease transactions with related parties. The following table presents the Company's lease costs included in the Unaudited Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) Income Statement Location 2020 2020 Finance lease cost Amortization of right-of-use assets Depreciation and amortization $ 1,274 $ 3,734 Interest on lease liabilities Interest expense, net of capitalized interest 248 796 Total finance lease cost 1,522 4,530 Operating lease cost Operation and maintenance, net of capitalized costs $ 1,650 $ 4,761 Short-term lease cost Operation and maintenance 95 721 Variable lease cost Operation and maintenance 597 1,707 Total lease cost $ 3,864 $ 11,719 The following table presents supplemental cash flow information related to leases: Nine Months Ended June 30, (Thousands) 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 4,133 Operating cash flows from finance leases $ 952 Financing cash flows from finance leases $ 5,505 Assets obtained or modified through amendments in exchange for operating lease liabilities during the three and nine months ended June 30, 2020 , were $270,000 and $34.2 million , respectively. Assets obtained or modified through amendments in exchange for finance lease liabilities during the nine months ended June 30, 2020 , were $49.7 million . There were no assets obtained or modified through amendments in exchange for finance lease liabilities during the three months ended June 30, 2020 . The following table presents the balance and classifications of our right of use assets and lease liabilities included in the Unaudited Condensed Consolidated Balance Sheets: (Thousands) Balance Sheet Location June 30, 2020 Assets Noncurrent Operating lease assets Operating lease assets $ 101,657 Finance lease assets Utility plant 72,357 Total lease assets $ 174,014 Liabilities Current Operating lease liabilities Operating lease liabilities $ 4,458 Finance lease liabilities Current maturities of long-term debt 10,645 Noncurrent Operating lease liabilities Operating lease liabilities 96,118 Finance lease liabilities Long-term debt 66,944 Total lease liabilities $ 178,165 As of June 30, 2020 , the weighted average remaining lease term for the operating and finance leases is 27.3 and 2.37 years, respectively. The weighted average discount rate used in the valuation of the operating and finance lease liabilities and right-of-use assets over the remaining lease term is 3.18 percent and 2.54 percent , respectively. As of June 30, 2020 , the Company has entered into three commercial solar land leases, which have not yet commenced, that would entitle the Company to significant rights or create additional obligations. The leases are expected to commence when construction of the assets is completed during fiscal 2020. Total estimated payments over the life of these leases are approximately $6.1 million . There are options to extend the term of these leases for two additional five -year periods. The following table presents the Company's maturities of lease liabilities as of June 30, 2020 : (Thousands) Operating Leases Finance Leases Remainder of fiscal 2020 $ 2,137 $ 3,417 2021 6,481 56,271 2022 6,387 6,004 2023 6,356 4,622 2024 5,985 5,279 Thereafter 126,331 5,720 Total future minimum lease payments 153,677 81,313 Less: Interest component (53,101 ) (3,724 ) Total lease liability $ 100,576 $ 77,589 The following table reflects the Company's future minimum lease payments due under non-cancelable operating leases for continuing operations as of September 30, 2019 , under ASC 840 and is being presented for comparative purposes. These commitments relate principally to commercial solar land leases, equipment and real property leases, including land and office facility leases, gas meters and office equipment. (Thousands) Operating Leases Capital Leases 2020 $ 4,411 $ 11,707 2021 $ 4,698 $ 6,603 2022 $ 4,609 $ 7,494 2023 $ 4,579 $ 3,995 2024 $ 4,199 $ 4,652 Thereafter $ 54,405 $ 4,173
LEASES	12. LEASES Lessee Accounting The Company determines if an arrangement is a lease at inception based on whether the Company has the right to control the use of an identified asset, the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset and accounts for leases in accordance with ASC 842, Leases . Right-of-use assets represent the Company’s right to use the underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term, including payments at commencement that depend on an index or rate. Most leases in which the Company is the lessee do not have a readily determinable implicit rate, so an incremental borrowing rate, based on the information available at the lease commencement date, is utilized to determine the present value of lease payments. When a secured borrowing rate is not readily available, unsecured borrowing rates are adjusted for the effects of collateral to determine the incremental borrowing rate. The Company uses the implicit rate for agreements in which it is a lessor. The Company has not entered into any material agreements in which it is a lessor. Lease expense and lease income are recognized on a straight-line basis over the lease term for operating leases. For more information on the adoption of ASC 842, Leases , see Note 2. Summary of Significant Accounting Policies . The Company’s lease agreements primarily consist of commercial solar land leases, storage and capacity leases, equipment and real property, including land and office facilities, office equipment and the sale-leaseback of its natural gas meters. Certain leases contain escalation provisions for inflation metrics. The storage leases contain a variable payment component that relates to the change in the inflation metrics that are not known past the current payment period. These variable components of these lease payments are excluded from the lease payments that are used to determine the related right-of-use lease asset and liability. The variable portion of these leases are recognized as leasing expenses when they are incurred. The capacity lease payments are fully variable and based on the amount of gas stored in the storage caverns. Generally, the Company’s solar land leases terms are between 15 and 25 years and include options to extend the terms for multiple additional 5 to 10 year terms each. The Company’s office leases vary in duration, ranging from 1 to 25 years and may or may not include extension or early purchase options. The majority of the Company’s meter leases are for terms of 7 years with purchase options available prior to the end of the 7 year term. Equipment leases include general office equipment that also vary in duration, most are for a term of 5 years. The Company's storage and capacity leases have assumed terms of 50 years to coincide with the expected useful lives of the cavern assets with which the leases are associated. The Company's lease terms may include options to extend, purchase the leased asset or terminate a lease and they are included in the lease liability calculation when it is reasonably certain that those options will be exercised. The Company has elected an accounting policy that exempts leases with an original term of one year or less from the recognition requirements of ASC 842, Leases. The Company has lease agreements with lease and non-lease components and has elected the practical expedient to combine lease and non-lease components for certain classes of leases, such as office buildings, solar land leases and office equipment. Variable payments are not significant to the Company. The Company’s lease agreements do not contain any material residual value guarantees, material restrictions or material covenants. There are no material lease transactions with related parties. The following table presents the Company's lease costs included in the Unaudited Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) Income Statement Location 2020 2020 Finance lease cost Amortization of right-of-use assets Depreciation and amortization $ 1,274 $ 3,734 Interest on lease liabilities Interest expense, net of capitalized interest 248 796 Total finance lease cost 1,522 4,530 Operating lease cost Operation and maintenance, net of capitalized costs $ 1,650 $ 4,761 Short-term lease cost Operation and maintenance 95 721 Variable lease cost Operation and maintenance 597 1,707 Total lease cost $ 3,864 $ 11,719 The following table presents supplemental cash flow information related to leases: Nine Months Ended June 30, (Thousands) 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 4,133 Operating cash flows from finance leases $ 952 Financing cash flows from finance leases $ 5,505 Assets obtained or modified through amendments in exchange for operating lease liabilities during the three and nine months ended June 30, 2020 , were $270,000 and $34.2 million , respectively. Assets obtained or modified through amendments in exchange for finance lease liabilities during the nine months ended June 30, 2020 , were $49.7 million . There were no assets obtained or modified through amendments in exchange for finance lease liabilities during the three months ended June 30, 2020 . The following table presents the balance and classifications of our right of use assets and lease liabilities included in the Unaudited Condensed Consolidated Balance Sheets: (Thousands) Balance Sheet Location June 30, 2020 Assets Noncurrent Operating lease assets Operating lease assets $ 101,657 Finance lease assets Utility plant 72,357 Total lease assets $ 174,014 Liabilities Current Operating lease liabilities Operating lease liabilities $ 4,458 Finance lease liabilities Current maturities of long-term debt 10,645 Noncurrent Operating lease liabilities Operating lease liabilities 96,118 Finance lease liabilities Long-term debt 66,944 Total lease liabilities $ 178,165 As of June 30, 2020 , the weighted average remaining lease term for the operating and finance leases is 27.3 and 2.37 years, respectively. The weighted average discount rate used in the valuation of the operating and finance lease liabilities and right-of-use assets over the remaining lease term is 3.18 percent and 2.54 percent , respectively. As of June 30, 2020 , the Company has entered into three commercial solar land leases, which have not yet commenced, that would entitle the Company to significant rights or create additional obligations. The leases are expected to commence when construction of the assets is completed during fiscal 2020. Total estimated payments over the life of these leases are approximately $6.1 million . There are options to extend the term of these leases for two additional five -year periods. The following table presents the Company's maturities of lease liabilities as of June 30, 2020 : (Thousands) Operating Leases Finance Leases Remainder of fiscal 2020 $ 2,137 $ 3,417 2021 6,481 56,271 2022 6,387 6,004 2023 6,356 4,622 2024 5,985 5,279 Thereafter 126,331 5,720 Total future minimum lease payments 153,677 81,313 Less: Interest component (53,101 ) (3,724 ) Total lease liability $ 100,576 $ 77,589 The following table reflects the Company's future minimum lease payments due under non-cancelable operating leases for continuing operations as of September 30, 2019 , under ASC 840 and is being presented for comparative purposes. These commitments relate principally to commercial solar land leases, equipment and real property leases, including land and office facility leases, gas meters and office equipment. (Thousands) Operating Leases Capital Leases 2020 $ 4,411 $ 11,707 2021 $ 4,698 $ 6,603 2022 $ 4,609 $ 7,494 2023 $ 4,579 $ 3,995 2024 $ 4,199 $ 4,652 Thereafter $ 54,405 $ 4,173

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	13. COMMITMENTS AND CONTINGENT LIABILITIES Cash Commitments NJNG has entered into long-term contracts, expiring at various dates through October 2036 , for the supply, storage and transportation of natural gas. These contracts include annual fixed charges of approximately $125.7 million at current contract rates and volumes for the remainder of the fiscal year, which are recoverable through BGSS. For the purpose of securing storage and pipeline capacity, the Energy Services segment enters into storage and pipeline capacity contracts, which require the payment of certain demand charges by Energy Services to maintain the ability to access such natural gas storage or pipeline capacity, during a fixed time period, which generally ranges from one to 10 years. Demand charges are established by interstate storage and pipeline operators and are regulated by FERC. These demand charges represent commitments to pay storage providers or pipeline companies for the right to store and/or transport natural gas utilizing their respective assets. Commitments as of June 30, 2020 , for natural gas purchases and future demand fees for the next five fiscal year periods are as follows: (Thousands) 2020 2021 2022 2023 2024 Thereafter Energy Services: Natural gas purchases $ 161,351 $ 1,264 $ — $ — $ — $ — Storage demand fees 23,483 12,975 10,116 4,063 2,173 1,329 Pipeline demand fees 66,544 55,599 33,068 22,364 17,163 40,206 Sub-total Energy Services $ 251,378 $ 69,838 $ 43,184 $ 26,427 $ 19,336 $ 41,535 NJNG: Natural gas purchases $ 13,273 $ — $ — $ — $ — $ — Storage demand fees 36,062 34,483 23,424 13,409 9,154 4,077 Pipeline demand fees 89,627 107,510 106,414 89,217 79,899 572,433 Sub-total NJNG $ 138,962 $ 141,993 $ 129,838 $ 102,626 $ 89,053 $ 576,510 Total $ 390,340 $ 211,831 $ 173,022 $ 129,053 $ 108,389 $ 618,045 Legal Proceedings Manufactured Gas Plant Remediation NJNG is responsible for the remedial cleanup of certain former MGP sites, dating back to gas operations in the late 1800s and early 1900s, which contain contaminated residues from former gas manufacturing operations. NJNG is currently involved in administrative proceedings with the NJDEP, and participating in various studies and investigations by outside consultants, to determine the nature and extent of any such contaminated residues and to develop appropriate programs of remedial action, where warranted, under NJDEP regulations. NJNG periodically, and at least annually, performs an environmental review of former MGP sites located in Atlantic Highlands, Berkeley, Long Branch, Manchester, Toms River, and Freehold, New Jersey, collectively, the "former MGP sites", including a review of potential liability for investigation and remedial action. NJNG estimated at the time of the most recent review that total future expenditures at the former MGP sites for which it is responsible, including potential liabilities for further and continued natural resource damages, may be brought by the NJDEP for alleged injury to groundwater or other natural resources concerning these sites. As we have not yet completed the remedial investigation of the site, the total amount of potential costs of all remedial actions at the MGP site in Freehold, New Jersey, cannot be reasonably estimated at this time. The estimated total future expenditures for all former MGP sites will range from approximately $115.9 million to $186.2 million . NJNG’s estimate of these liabilities is based upon known facts, existing technology and enacted laws and regulations in place when the review was completed. Where it is probable that costs will be incurred, and the information is sufficient to establish a range of possible liability, NJNG accrues the most likely amount in the range. If no point within the range is more likely than the other, it is NJNG’s policy to accrue the lower end of the range. Accordingly, NJNG recorded an MGP remediation liability and a corresponding regulatory asset on the Unaudited Condensed Consolidated Balance Sheets of $128.9 million as of June 30, 2020 and $131.1 million as of September 30, 2019 , based on the most likely amount. The remediation liability at June 30, 2020 includes adjustments for actual expenditures during fiscal 2020 . The actual costs to be incurred by NJNG are dependent upon several factors, including final determination of remedial action, changing technologies and governmental regulations, the ultimate ability of other responsible parties to pay and insurance recoveries, if any. In June 2019, NJNG initiated a preliminary assessment of a site in Aberdeen, New Jersey to determine prior ownership and if there were former MGP operations active at the location. The Company is in the process of conducting site investigation activities to identify and evaluate the nature and extent of MGP related contaminants present at the location. The costs associated with preliminary assessment and site investigation activities are considered immaterial and are included as a component of NJNG’s annual SBC application to recover remediation expenses. NJNG will continue to gather information to further refine and enhance its estimate of potential costs for this site as it becomes available. NJNG recovers its remediation expenditures, including carrying costs, over rolling seven-year periods pursuant to a RAC approved by the BPU. On March 16, 2020 , a stipulation was signed in NJNG's annual SBC filing which included an increase in the RAC, which will increase the annual recovery from $8.5 million to $9.7 million and is pending approval. As of June 30, 2020 , $36.1 million of previously incurred remediation costs, net of recoveries from customers and insurance proceeds, are included in regulatory assets on the Unaudited Condensed Consolidated Balance Sheets. NJNG will continue to seek recovery of MGP-related costs through the RAC. If any future regulatory position indicates that the recovery of such costs is not probable, the related non-recoverable costs would be charged to income in the period of such determination. General The Company is involved, and from time to time in the future may be involved, in a number of pending and threatened judicial, regulatory and arbitration proceedings relating to matters that arise in the ordinary course of business. In view of the inherent difficulty of predicting the outcome of litigation matters, particularly when such matters are in their early stages or where the claimants seek indeterminate damages, the Company cannot state with confidence what the eventual outcome of the pending litigation will be, what the timing of the ultimate resolution of these matters will be, or what the eventual loss, fines or penalties related to each pending matter will be, if any. In accordance with applicable accounting guidance, NJR establishes accruals for litigation for those matters that present loss contingencies as to which it is both probable that a loss will be incurred and the amount of such loss can be reasonably estimated. NJR also discloses contingent matters for which there is a reasonable possibility of a loss. Based upon currently available information, NJR believes that the results of litigation that is currently pending, taken together, will not have a materially adverse effect on the Company’s financial condition, results of operations or cash flows. The actual results of resolving the pending litigation matters may be substantially higher than the amounts accrued.

COMMON STOCK EQUITY

COMMON STOCK EQUITY	9 Months Ended
	Jun. 30, 2020
Equity [Abstract]
COMMON STOCK EQUITY	14. COMMON STOCK EQUITY On December 4, 2019 , the Company completed an equity offering of 6,545,454 common shares, consisting of 5,333,334 common shares issued directly by the Company and 1,212,120 common shares issuable pursuant to forward sales agreements with investment banks. The issuance of 5,333,334 resulted in proceeds of approximately $212.9 million , net of issuance costs, and was reflected in shareholders' equity and as a financing activity on the statement of cash flows. Under the forward sale agreements, a total of 1,212,120 common shares were borrowed from third parties and sold to the underwriters. Each forward sale agreement allows the Company, at its election and prior to September 30, 2020 , to physically settle the forward sale agreement by issuing common shares in exchange for net proceeds at the then-applicable forward sale price specified by the agreement, which was initially $40.0125 per share, or, alternatively, to settle the forward sale agreement in whole or in part through the delivery or receipt of shares or cash. The forward sale price is subject to adjustment daily based on a floating interest rate factor and will decrease in respect of certain fixed amounts specified in the agreement, such as anticipated dividends. The Company's current intent is to physically settle the forward sale agreements by issuing common shares. As of June 30, 2020 , if the Company elected to net settle the forward sale agreement, the Company would receive approximately $7 million under a cash settlement or would receive 227,461 common shares under a net share settlement. Issuances of shares under the forward sale agreements are classified as equity transactions. Accordingly, no amounts relating to the forward sale agreements have or will be recorded in the financial statements until settlements take place. Prior to any settlements, the only impact to the financial statements is the inclusion of incremental shares within the calculation of diluted EPS using the treasury stock method until settlement of the forward sale agreements. Under this method, the number of the Company common shares used in calculating diluted EPS is deemed to be increased by the excess, if any, of the number of shares that would be issued upon physical settlement of the forward sale agreements less the number of shares that would be purchased by the Company in the market (based on the average market price during the same reporting period) using the proceeds receivable upon settlement (based on the adjusted forward sale price at the end of that reporting period). Share dilution occurs when the average market price of the Company's common shares is higher than the adjusted forward sale price. See Note 8. Earnings Per Share for the impact of the forward sale agreements on the calculation of diluted earnings per share.

REPORTING SEGMENT AND OTHER OPE

REPORTING SEGMENT AND OTHER OPERATIONS DATA	9 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
REPORTING SEGMENT AND OTHER OPERATIONS DATA	15. REPORTING SEGMENT AND OTHER OPERATIONS DATA The Company organizes its businesses based on a combination of factors, including its products and its regulatory environment. As a result, the Company manages its businesses through the following reporting segments and other operations: the Natural Gas Distribution segment consists of regulated energy and off-system, capacity and storage management operations; the Clean Energy Ventures segment consists of capital investments in clean energy projects; the Energy Services segment consists of unregulated wholesale and retail energy operations; the Midstream segment consists of the Company’s investments in natural gas transportation and storage facilities; the Home Services and Other operations consist of heating, cooling and water appliance sales, installations and services, other investments and general corporate activities. Information related to the Company's various reporting segments and other operations is detailed below: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) 2020 2019 2020 2019 Operating revenues Natural Gas Distribution External customers $ 128,532 $ 120,782 $ 645,375 $ 622,167 Clean Energy Ventures External customers 13,396 11,450 25,603 37,707 Energy Services External customers (1) 133,740 290,083 816,003 1,416,837 Intercompany (197 ) (62 ) 1,656 8,276 Midstream External customers 11,143 — 29,949 — Intercompany 720 — 2,062 — Subtotal 287,334 422,253 1,520,648 2,084,987 Home Services and Other External customers 12,163 12,627 36,694 36,253 Intercompany 206 455 947 1,652 Eliminations (729 ) (393 ) (4,665 ) (9,928 ) Total $ 298,974 $ 434,942 $ 1,553,624 $ 2,112,964 Depreciation and amortization Natural Gas Distribution $ 18,269 $ 14,689 $ 53,186 $ 42,557 Clean Energy Ventures 10,121 8,239 29,429 24,253 Energy Services (2) 28 23 84 75 Midstream 2,513 1 6,591 4 Subtotal 30,931 22,952 89,290 66,889 Home Services and Other 265 230 761 673 Eliminations 20 (33 ) (293 ) (270 ) Total $ 31,216 $ 23,149 $ 89,758 $ 67,292 Interest income (3) Natural Gas Distribution $ 135 $ 187 $ 378 $ 567 Energy Services 10 26 99 40 Midstream 463 1,088 3,245 3,089 Subtotal 608 1,301 3,722 3,696 Home Services and Other 157 515 856 1,620 Eliminations (618 ) (1,320 ) (2,524 ) (4,202 ) Total $ 147 $ 496 $ 2,054 $ 1,114 (1) Includes sales to Canada for the Energy Services segment, which are immaterial. (2) The amortization of acquired wholesale energy contracts is excluded above and is included in gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations. (3) Included in other income, net on the Unaudited Condensed Consolidated Statements of Operations. Three Months Ended Nine Months Ended June 30, June 30, (Thousands) 2020 2019 2020 2019 Interest expense, net of capitalized interest Natural Gas Distribution $ 7,455 $ 6,301 $ 22,760 $ 18,166 Clean Energy Ventures 5,070 4,320 14,397 14,405 Energy Services 517 766 2,680 4,277 Midstream 1,843 522 10,286 1,630 Subtotal 14,885 11,909 50,123 38,478 Home Services and Other 427 407 1,264 1,410 Eliminations (168 ) (668 ) (970 ) (2,245 ) Total $ 15,144 $ 11,648 $ 50,417 $ 37,643 Income tax provision (benefit) Natural Gas Distribution $ 939 $ (1,391 ) $ 29,276 $ 16,705 Clean Energy Ventures 4,193 (1,787 ) (38,432 ) (39,033 ) Energy Services (8,909 ) (1,193 ) (606 ) 7,063 Midstream 1,646 729 3,453 2,910 Subtotal (2,131 ) (3,642 ) (6,309 ) (12,355 ) Home Services and Other (131 ) 1,705 2,044 854 Eliminations 72 (4 ) 173 (353 ) Total $ (2,190 ) $ (1,941 ) $ (4,092 ) $ (11,854 ) Equity in earnings of affiliates Midstream $ 3,615 $ 4,167 $ 11,200 $ 11,966 Eliminations (402 ) (672 ) (1,009 ) (1,939 ) Total $ 3,213 $ 3,495 $ 10,191 $ 10,027 Net financial earnings (loss) Natural Gas Distribution $ 11,968 $ (3,795 ) $ 142,160 $ 96,464 Clean Energy Ventures (13,891 ) (7,138 ) (2,817 ) 24,797 Energy Services (6,913 ) (14,030 ) (9,511 ) 13,644 Midstream 3,615 3,052 10,877 11,201 Subtotal (5,221 ) (21,911 ) 140,709 146,106 Home Services and Other (582 ) 4,437 675 2,932 Eliminations (14 ) (32 ) 140 (34 ) Total $ (5,817 ) $ (17,506 ) $ 141,524 $ 149,004 Capital expenditures Natural Gas Distribution $ 88,171 $ 100,473 $ 238,010 $ 239,569 Clean Energy Ventures 41,182 38,813 110,968 91,333 Midstream 8,575 6,406 16,284 11,290 Subtotal 137,928 145,692 365,262 342,192 Home Services and Other 1,962 924 1,977 1,826 Total $ 139,890 $ 146,616 $ 367,239 $ 344,018 Investments in equity investees Midstream $ 225 $ 1,239 $ 1,491 $ 2,696 Total $ 225 $ 1,239 $ 1,491 $ 2,696 The Chief Executive Officer, who uses NFE as a measure of profit or loss in measuring the results of the Company's segments and operations, is the chief operating decision maker of the Company. A reconciliation of consolidated NFE to consolidated net income is as follows: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) 2020 2019 2020 2019 Net financial earnings (loss) $ (5,817 ) $ (17,506 ) $ 141,524 $ 149,004 Less: Unrealized loss (gain) on derivative instruments and related transactions 23,712 (24,646 ) (21,827 ) (25,353 ) Tax effect (5,639 ) 5,885 5,189 6,034 Effects of economic hedging related to natural gas inventory 4,739 11,317 10,474 12,073 Tax effect (1,126 ) (2,689 ) (2,489 ) (2,869 ) NFE tax adjustment (284 ) 1,029 (470 ) 7,700 Net (loss) income $ (27,219 ) $ (8,402 ) $ 150,647 $ 151,419 The Company uses derivative instruments as economic hedges of purchases and sales of physical gas inventory. For GAAP purposes, these derivatives are recorded at fair value and related changes in fair value are included in reported earnings. Revenues and cost of gas related to physical gas flow is recognized when the gas is delivered to customers. Consequently, there is a mismatch in the timing of earnings recognition between the economic hedges and physical gas flows. Timing differences occur in two ways: • unrealized gains and losses on derivatives are recognized in reported earnings in periods prior to physical gas inventory flows; and • unrealized gains and losses of prior periods are reclassified as realized gains and losses when derivatives are settled in the same period as physical gas inventory movements occur. NFE is a measure of the earnings based on eliminating these timing differences, to effectively match the earnings effects of the economic hedges with the physical sale of gas, SRECs and foreign currency contracts. Consequently, to reconcile between net income and NFE, current period unrealized gains and losses on the derivatives are excluded from NFE as a reconciling item. Additionally, realized derivative gains and losses are also included in current period net income. However, NFE includes only realized gains and losses related to natural gas sold out of inventory, effectively matching the full earnings effects of the derivatives with realized margins on physical gas flows. Included in the tax effects are current and deferred income tax expense corresponding with the NFE. NJR also calculates a quarterly tax adjustment based on an estimated annual effective tax rate for NFE purposes. The Company's assets for the various business segments and business operations are detailed below: (Thousands) June 30, September 30, Assets at end of period: Natural Gas Distribution $ 3,319,754 $ 3,064,309 Clean Energy Ventures 1,007,240 864,323 Energy Services 225,830 290,847 Midstream 813,932 240,955 Subtotal 5,366,756 4,460,434 Home Services and Other 133,773 104,411 Intercompany assets (1) (218,445 ) (191,860 ) Total $ 5,282,084 $ 4,372,985 (1) Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	16. RELATED PARTY TRANSACTIONS NJNG has an agreement with Steckman Ridge for 3 Bcf of firm storage capacity, which expires on March 31, 2025 . Under the terms of the agreement, NJNG incurs demand fees at market rates of approximately $9.3 million annually, a portion of which is eliminated in consolidation. These fees are recoverable through NJNG's BGSS mechanism and are included as a component of regulatory assets. Energy Services may periodically enter into storage or park and loan agreements with its affiliated FERC-jurisdictional natural gas storage facility, Steckman Ridge. As of June 30, 2020 , Energy Services has entered into transactions with Steckman Ridge for varying terms, all of which expire by October 31, 2020 . Demand fees, net of eliminations, associated with Steckman Ridge were as follows: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) 2020 2019 2020 2019 Natural Gas Distribution $ 1,491 $ 1,431 $ 4,462 $ 4,349 Energy Services 27 695 86 2,106 Total $ 1,518 $ 2,126 $ 4,548 $ 6,455 The following table summarizes demand fees payable to Steckman Ridge as of: (Thousands) June 30, September 30, Natural Gas Distribution $ 775 $ 775 Energy Services 16 15 Total $ 791 $ 790 NJNG and Energy Services have entered into various asset management agreements, the effects of which are eliminated in consolidation. Under the terms of these agreements, NJNG releases certain transportation and storage contracts to Energy Services. As of June 30, 2020 , NJNG and Energy Services had four asset management agreements with expiration dates ranging from October 31, 2020 through October 31, 2021 . NJNG has entered into a 15 -year transportation precedent agreement for committed capacity of 180,000 Dths per day and NJRES has entered into a 5 -year, 50,000 Dths per day transportation precedent agreement with PennEast, both to commence when PennEast is placed in service. NJNG has entered into a transportation precedent agreement with Adelphia for committed capacity of 130,000 Dths per day, which expires in October 2025. Energy Services has a 5 -year agreement for 3 Bcf of firm storage capacity with Leaf River, which is eliminated in consolidation and expires in March 2024.

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	9 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
ACQUISITIONS AND DISPOSITIONS	17. ACQUISITIONS AND DISPOSITIONS Acquisitions Adelphia On January 13, 2020 , Adelphia, an indirect wholly-owned subsidiary of NJR, acquired all of Talen’s membership interests in IEC, an existing 84 -mile pipeline in southeastern Pennsylvania, including related assets and rights of way, for a base purchase price of $166 million . In November 2017, the Company made an initial payment of $10 million towards the base purchase price, which was included in other noncurrent assets on the Consolidated Balance Sheets. The remaining purchase price of $156 million was paid upon the close of the acquisition of the related assets. As additional consideration, Adelphia will pay Talen specified amounts of up to $23 million contingent upon the achievement of certain regulatory approvals and binding natural gas capacity commitments. On December 20, 2019 , FERC issued Adelphia Gateway’s Certificate of Public Convenience and Necessity. Adelphia has agreed to provide firm natural gas transportation service for 10 years following the closing to two power generators owned by affiliates of Talen that are currently served by the pipeline. The Company evaluated the acquisition under the guidance of ASU 2017-01, Clarifying the Definition of a Business and concluded that the acquisition did not meet the definition of a business, as almost all of the fair value relates to the pipeline assets acquired. As a result, the purchase was accounted for as an asset acquisition. The following table summarizes the consideration transferred and purchase price allocation based upon the relative fair value of the assets acquired and liabilities to be assumed: (Thousands) Estimated Fair Value Purchase price $ 166,000 Net working capital adjustment (449 ) Transaction costs 9,456 Total costs capitalized $ 175,007 Identifiable assets acquired Property, plant and equipment $ 174,438 Other 1,018 Net working capital (449 ) Net assets acquired $ 175,007 The Company utilized a discounted cash flow valuation technique to measure the fair value of the property, plant, and equipment based upon the present value of their future economic benefits reflecting current market expectations. The assumptions used in the discounted cash flow valuation are not observable in active markets and thus represent non-recurring Level 3 fair value measurements. Property, plant and equipment consist primarily of pipeline related assets, land, buildings and other structures and software. Depreciation is computed on a straight-line basis over the estimated useful life of the assets, ranging from five to 30 years, based on various classes of depreciable property. Other assets consist primarily of an assembled workforce and base gas. Asset retirement obligations are initially recognized when the legal obligation to retire an asset has been incurred and a reasonable estimate of fair value can be made. The Company records any asset retirement obligations in the period in which information permitting a reasonable estimate of such obligation becomes available. The Company is unable to predict when, or if, the pipelines would become completely obsolete and require decommissioning. As such, upon acquisition, there were no liabilities recorded for asset retirement obligations, as both the timing and future estimates of decommissioning the pipeline was indeterminable. Leaf River On October 11, 2019 , NJR Pipeline Company, an indirect wholly-owned subsidiary of NJR, acquired 100 percent of the issued and outstanding limited liability company interests of Leaf River Energy Center LLC for $367.5 million . The purchase price was subject to certain contractual conditions, including customary purchase price adjustments related to the amount of net working capital and transaction expenses. Leaf River owns and operates a 32.2 million Dth salt dome natural gas storage facility, located in southeastern Mississippi. The Company evaluated the acquisition under the guidance of ASU 2017-01, Clarifying the Definition of a Business and concluded that the acquisition did not meet the definition of a business, as almost all of the fair value relates to the storage assets acquired. As a result, the purchase was accounted for as an asset acquisition. The following table summarizes the consideration transferred and purchase price allocation based upon the relative fair value of the assets acquired and liabilities to be assumed: (Thousands) Estimated Fair Value Purchase price $ 367,500 Net working capital adjustment 4,111 Transaction costs 1,664 Total costs capitalized $ 373,275 Identifiable assets acquired Property, plant and equipment $ 365,715 Base gas 3,445 Other assets, net 4 Net working capital 4,111 Net assets acquired $ 373,275 The total consideration transferred is comprised of the purchase price to the seller and the transaction costs incurred during the acquisition. The Company utilized a discounted cash flow valuation technique to measure the fair value of the property, plant, and equipment based upon the present value of their future economic benefits reflecting current market expectations. Base gas is valued based upon the estimated replacement costs associated with the respective assets. Base gas is needed to maintain the necessary pressure to allow efficient operation of the storage facility. The base gas is determined to be recoverable and is considered a component of the facility and presented as a component in property, plant and equipment. This gas is not depreciated, as it is expected to be recovered and sold. Property, plant and equipment consist primarily of surface equipment and pipelines necessary to operate the facility. Depreciation is computed on a straight-line basis over the estimated useful life of the assets, ranging from five to 50 years , based on various classes of depreciable property. Asset retirement obligations are initially recognized when the legal obligation to retire an asset has been incurred and a reasonable estimate of fair value can be made. The Company records any asset retirement obligations in the period in which information permitting a reasonable estimate of such obligation becomes available. The Company is unable to predict when, or if, the storage facilities and related pipelines would become completely obsolete and require decommissioning. As such, upon acquisition, there were no liabilities recorded for asset retirement obligations, as both the timing and future estimates of decommissioning the storage facilities and related pipelines were indeterminable. The assumptions used in the discounted cash flow valuation are not observable in active markets and thus represent non-recurring Level 3 fair value measurements.
ACQUISITIONS AND DISPOSITIONS	17. ACQUISITIONS AND DISPOSITIONS Acquisitions Adelphia On January 13, 2020 , Adelphia, an indirect wholly-owned subsidiary of NJR, acquired all of Talen’s membership interests in IEC, an existing 84 -mile pipeline in southeastern Pennsylvania, including related assets and rights of way, for a base purchase price of $166 million . In November 2017, the Company made an initial payment of $10 million towards the base purchase price, which was included in other noncurrent assets on the Consolidated Balance Sheets. The remaining purchase price of $156 million was paid upon the close of the acquisition of the related assets. As additional consideration, Adelphia will pay Talen specified amounts of up to $23 million contingent upon the achievement of certain regulatory approvals and binding natural gas capacity commitments. On December 20, 2019 , FERC issued Adelphia Gateway’s Certificate of Public Convenience and Necessity. Adelphia has agreed to provide firm natural gas transportation service for 10 years following the closing to two power generators owned by affiliates of Talen that are currently served by the pipeline. The Company evaluated the acquisition under the guidance of ASU 2017-01, Clarifying the Definition of a Business and concluded that the acquisition did not meet the definition of a business, as almost all of the fair value relates to the pipeline assets acquired. As a result, the purchase was accounted for as an asset acquisition. The following table summarizes the consideration transferred and purchase price allocation based upon the relative fair value of the assets acquired and liabilities to be assumed: (Thousands) Estimated Fair Value Purchase price $ 166,000 Net working capital adjustment (449 ) Transaction costs 9,456 Total costs capitalized $ 175,007 Identifiable assets acquired Property, plant and equipment $ 174,438 Other 1,018 Net working capital (449 ) Net assets acquired $ 175,007 The Company utilized a discounted cash flow valuation technique to measure the fair value of the property, plant, and equipment based upon the present value of their future economic benefits reflecting current market expectations. The assumptions used in the discounted cash flow valuation are not observable in active markets and thus represent non-recurring Level 3 fair value measurements. Property, plant and equipment consist primarily of pipeline related assets, land, buildings and other structures and software. Depreciation is computed on a straight-line basis over the estimated useful life of the assets, ranging from five to 30 years, based on various classes of depreciable property. Other assets consist primarily of an assembled workforce and base gas. Asset retirement obligations are initially recognized when the legal obligation to retire an asset has been incurred and a reasonable estimate of fair value can be made. The Company records any asset retirement obligations in the period in which information permitting a reasonable estimate of such obligation becomes available. The Company is unable to predict when, or if, the pipelines would become completely obsolete and require decommissioning. As such, upon acquisition, there were no liabilities recorded for asset retirement obligations, as both the timing and future estimates of decommissioning the pipeline was indeterminable. Leaf River On October 11, 2019 , NJR Pipeline Company, an indirect wholly-owned subsidiary of NJR, acquired 100 percent of the issued and outstanding limited liability company interests of Leaf River Energy Center LLC for $367.5 million . The purchase price was subject to certain contractual conditions, including customary purchase price adjustments related to the amount of net working capital and transaction expenses. Leaf River owns and operates a 32.2 million Dth salt dome natural gas storage facility, located in southeastern Mississippi. The Company evaluated the acquisition under the guidance of ASU 2017-01, Clarifying the Definition of a Business and concluded that the acquisition did not meet the definition of a business, as almost all of the fair value relates to the storage assets acquired. As a result, the purchase was accounted for as an asset acquisition. The following table summarizes the consideration transferred and purchase price allocation based upon the relative fair value of the assets acquired and liabilities to be assumed: (Thousands) Estimated Fair Value Purchase price $ 367,500 Net working capital adjustment 4,111 Transaction costs 1,664 Total costs capitalized $ 373,275 Identifiable assets acquired Property, plant and equipment $ 365,715 Base gas 3,445 Other assets, net 4 Net working capital 4,111 Net assets acquired $ 373,275 The total consideration transferred is comprised of the purchase price to the seller and the transaction costs incurred during the acquisition. The Company utilized a discounted cash flow valuation technique to measure the fair value of the property, plant, and equipment based upon the present value of their future economic benefits reflecting current market expectations. Base gas is valued based upon the estimated replacement costs associated with the respective assets. Base gas is needed to maintain the necessary pressure to allow efficient operation of the storage facility. The base gas is determined to be recoverable and is considered a component of the facility and presented as a component in property, plant and equipment. This gas is not depreciated, as it is expected to be recovered and sold. Property, plant and equipment consist primarily of surface equipment and pipelines necessary to operate the facility. Depreciation is computed on a straight-line basis over the estimated useful life of the assets, ranging from five to 50 years , based on various classes of depreciable property. Asset retirement obligations are initially recognized when the legal obligation to retire an asset has been incurred and a reasonable estimate of fair value can be made. The Company records any asset retirement obligations in the period in which information permitting a reasonable estimate of such obligation becomes available. The Company is unable to predict when, or if, the storage facilities and related pipelines would become completely obsolete and require decommissioning. As such, upon acquisition, there were no liabilities recorded for asset retirement obligations, as both the timing and future estimates of decommissioning the storage facilities and related pipelines were indeterminable. The assumptions used in the discounted cash flow valuation are not observable in active markets and thus represent non-recurring Level 3 fair value measurements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Consolidation	The accompanying Unaudited Condensed Consolidated Financial Statements have been prepared by NJR in accordance with the rules and regulations of the SEC and GAAP. The September 30, 2019 Balance Sheet data is derived from the audited financial statements of the Company. These Unaudited Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and the notes thereto included in NJR's 2019 Annual Report on Form 10-K. The Unaudited Condensed Consolidated Financial Statements include the accounts of NJR and its subsidiaries. In the opinion of management, the accompanying Unaudited Condensed Consolidated Financial Statements reflect all adjustments necessary for a fair presentation of the results of the interim periods presented. These adjustments are of a normal and recurring nature. Because of the seasonal nature of NJR's utility and wholesale energy services operations, in addition to other factors, the financial results for the interim periods presented are not indicative of the results that are to be expected for the fiscal year ending September 30, 2020 . Intercompany transactions and accounts have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires the Company to make estimates that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingencies during the reporting period. On a quarterly basis or more frequently whenever events or changes in circumstances indicate a need, the Company evaluates its estimates, including those related to the calculation of the fair value of derivative instruments, debt, equity method investments, unbilled revenues, allowance for doubtful accounts, provisions for depreciation and amortization, long-lived assets, regulatory assets and liabilities, income taxes, pensions and other postemployment benefits, contingencies related to environmental matters and litigation. ARO are evaluated as often as needed. The Company’s estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. The Company has legal, regulatory and environmental proceedings during the normal course of business that can result in loss contingencies. When evaluating the potential for a loss, the Company will establish a reserve if a loss is probable and can be reasonably estimated, in which case it is the Company’s policy to accrue the full amount of such estimates. Where the information is sufficient only to establish a range of probable liability, and no point within the range is more likely than any other, it is the Company’s policy to accrue the lower end of the range. In the normal course of business, estimated amounts are subsequently adjusted to actual results that may differ from estimates.
Acquisitions	Acquisitions The Company follows the guidance in ASC 805, Business Combinations, for determining the appropriate accounting treatment for acquisitions. ASU No. 2017-01, Clarifying the Definition of a Business , provides an initial fair value screen to determine if substantially all of the fair value of the assets acquired is concentrated in a single asset or group of similar assets. If the initial screening test is not met, the set is considered a business based on whether there are inputs and substantive processes in place. Based on the results of this analysis and conclusion on an acquisition’s classification of a business combination or an asset acquisition, the accounting treatment is derived. If the acquisition is deemed to be a business, the acquisition method of accounting is applied. Identifiable assets acquired and liabilities assumed at the acquisition date are recorded at fair value. If the transaction is deemed to be an asset purchase, the cost accumulation and allocation model is used whereby the assets and liabilities are recorded based on the purchase price and allocated to the individual assets and liabilities based on relative fair values. The determination and allocation of fair values to the identifiable assets acquired and liabilities assumed are based on various assumptions and valuation methodologies requiring considerable management judgment. The most significant variables in these valuations are discount rates and the number of years on which to base the cash flow projections, as well as other assumptions and estimates used to determine the cash inflows and outflows. Management determines discount rates based on the risk inherent in the acquired assets, specific risks, industry beta and capital structure of guideline companies. The valuation of an acquired business is based on available information at the acquisition date and assumptions that are believed to be reasonable. However, a change in facts and circumstances as of the acquisition date can result in subsequent adjustments during the measurement period, but no later than one year from the acquisition date.
Revenues	Revenues Revenues from the sale of natural gas to NJNG customers are recognized in the period that gas is delivered and consumed by customers, including an estimate for unbilled revenue. NJNG records unbilled revenue for natural gas services. Natural gas sales to individual customers are based on meter readings, which are performed on a systematic basis throughout the month. At the end of each month, the amount of natural gas delivered to each customer after the last meter reading through the end of the respective accounting period is estimated, and recognizes unbilled revenues related to these amounts. The unbilled revenue estimates are based on estimated customer usage by customer type, weather effects, unaccounted-for gas and the most current tariff rates. Clean Energy Ventures recognizes revenue when SRECs are transferred to counterparties. SRECs are physically delivered through the transfer of certificates as per contractual settlement schedules. Revenues for Energy Services are recognized when the natural gas is physically delivered to the customer. In addition, changes in the fair value of derivatives that economically hedge the forecasted sales of the natural gas are recognized in operating revenues as they occur, as noted above. Energy Services also recognizes changes in the fair value of SREC derivative contracts as a component of operating revenues. Midstream generates revenues from firm storage contracts and transportation contracts, related usage fees and hub services for the use of storage space, injections and withdrawals from their natural gas storage facility and the delivery of natural gas to customers. Demand fees are recognized as revenue over the term of the related agreement while usage fees and hub services revenues are recognized as services are performed. Revenues from all other activities are recorded in the period during which products or services are delivered and accepted by customers, or over the related contractual term. See Note 3. Revenue for further information.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on deposit and temporary investments with maturities of three months or less, and excludes restricted cash related to escrow balances for utility plant projects at NJNG and irrevocable letters of credit at Leaf River, which is recorded in other current and noncurrent assets on the Unaudited Condensed Consolidated Balance Sheets, respectively. ASU No. 2016-18, an amendment to ASC 230, Statement of Cash Flows
Loans Receivable	Loans Receivable NJNG currently provides loans, with terms ranging from two to 10 years
Software Costs	Software Costs
Reclassification	Reclassification Certain prior period amounts related to energy and other taxes on the Unaudited Condensed Consolidated Statements of Operations and prepaid expenses on the Unaudited Condensed Consolidated Balance Sheets and Unaudited Consolidated Condensed Statements of Cash Flows have been reclassified to conform to the current period presentation. Certain amounts related to software costs on the Unaudited Condensed Consolidated Balance Sheets have been reclassified to utility plant construction work in progress to conform to the current period presentation.
Recently Adopted Updates to the Accounting Standards Codification	Recently Adopted Updates to the Accounting Standards Codification Leases In February 2016, the FASB issued ASU No. 2016-02, an amendment to ASC 842, Leases , which, along with other ASU's containing minor amendments and technical corrections, provides for a comprehensive overhaul of the lease accounting model and changes the definition of a lease within the accounting literature. Under the new standard, all leases with an original term greater than one year are recorded on the balance sheet. The related asset is amortized straight-line over the term of the lease. Additional disclosures are required to provide transparency as to the amount, timing and uncertainty of cash flows arising from leasing activities. In January 2018, the FASB issued ASU No. 2018-01, a further amendment to ASC 842, Leases , which was introduced by ASU No. 2016-02, as discussed above. This update provides an optional practical expedient that allows companies to not evaluate existing or expired land easements that were not previously accounted for under Topic 840 as leases as of October 1, 2019. The Company adopted this practical expedient. In July 2018, the FASB issued ASU No. 2018-11, which provides an optional transition method to ASC 842 that allows the Company to recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption, if any. The Company elected this transition method and did not have any cumulative impact to the opening balance of retained earnings. The Company’s other practical expedient elections include the package of practical expedients whereby the Company was not required to reassess all of its leases identified, lease classifications and initial direct costs associated with leases. The Company also elected to not separate non-lease components from lease components and elected to exclude short-term leases from the recognition requirements of ASC 842. The Company did not elect the portfolio approach for the application of the discount rate and therefore applies a discount rate individually to each lease in its population. The Company adopted ASC 842 and all related amendments on October 1, 2019, using the modified retrospective transition method. The Company’s lease agreements primarily consist of commercial solar land leases, storage and capacity leases, equipment and real property leases, including land and office facility leases and office equipment and the sale-leaseback of its natural gas meters. The total right-of-use assets and operating lease liabilities recorded upon adoption were $67.1 million . Upon the acquisition of Leaf River, on October 11, 2019 , the Company adopted ASC 842 for Leaf River which resulted in additional right-of-use asset and lease liability of $21.6 million . Derivatives and Hedging In August 2017, the FASB issued ASU No. 2017-12, an amendment to ASC 815 , Derivatives and Hedging , which, along with other ASU's containing minor amendments and technical corrections, is intended to make targeted improvements to the accounting for hedging activities by better aligning an entity’s risk management activities and financial reporting for hedging relationships. These amendments modify the accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. Additionally, the amendments are intended to simplify the application of the hedge accounting guidance and provide relief to companies by easing certain hedge documentation requirements. The Company adopted this guidance on October 1, 2019. As October 1, 2019, the Company did not apply hedge accounting to its risk management activities, therefore the amendments did not have an impact on its financial position, results of operations or cash flows. In October 2018, the FASB issued ASU No. 2018-16, an amendment to ASC 815, Derivatives and Hedging , which permits the use of the Overnight Index Swap rate based on the Secured Overnight Financing Rate as an additional acceptable U.S. benchmark interest rate for hedge accounting purposes. The Company adopted this guidance on October 1, 2019. As the Company did not apply hedge accounting to any of its risk management activities as of October 1, 2019, the amendments did not have an impact on its financial position, results of operations or cash flows. Stock Compensation In June 2018, the FASB issued ASU No. 2018-07, an amendment to ASC 718, Compensation - Stock Compensation , which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees. The Company adopted this guidance on October 1, 2019. There was no impact to the Company's financial position, results of operations or cash flows. Financial Instruments In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments . This accounting standard provides clarification of guidance for financial instruments and makes narrow scope amendments related to various issues. The Company adopted this standard effective upon issuance. There was no impact to the Company's financial position, results of operations or cash flows as a result of its adoption. Reference Rate Reform In March 2020, the FASB issued ASU No. 2020-04, an amendment to ASC 848, Reference Rate Reform , which provides relief for companies preparing for discontinuation of interest rates such as LIBOR. The amendments in this update provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. The amendments in this update are elective and are effective upon the ASU issuance through December 31, 2022. There was no impact to the Company's financial position, results of operations or cash flows as a result of its adoption. Other Recent Updates to the Accounting Standards Codification Financial Instruments In June 2016, the FASB issued ASU No. 2016-13, an amendment to ASC 326, Financial Instruments - Credit Losses , which changes the impairment model for certain financial assets that have a contractual right to receive cash, including trade and loan receivables. The new model requires recognition based upon an estimation of expected credit losses rather than recognition of losses when it is probable that they have been incurred. An entity will apply the amendment through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The guidance is effective for the Company beginning October 1, 2020, with early adoption permitted. The Company is in the process of assessing the impact of the guidance on NJR's reserve methodologies and credit policies and procedures for any assets that could be impacted. The Company is currently evaluating the amendment and all subsequent amendments related to this topic, but does not expect that the pending adoption of this ASU will have a material effect on its consolidated financial statements and its disclosures since the majority of NJR's financial assets are short-term in nature, such as trade receivables. Fair Value In August 2018, the FASB issued ASU No. 2018-13, an amendment to ASC 820, Fair Value Measurement , which removes, modifies and adds to certain disclosure requirements of fair value measurements. Disclosure requirements removed include the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements. Modifications include considerations around the requirement to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse. The additions include the requirement to disclose changes in unrealized gains and losses for the period in other comprehensive income for recurring Level 3 fair value measurements held and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The guidance is effective for the Company beginning October 1, 2020, with early adoption permitted. Upon adoption, the amendments will be applied on a prospective or retrospective basis depending on the specific amendments’ transition requirements. The Company is currently evaluating the impact of the adoption of this ASU but does not expect that its pending adoption will have a material effect on its consolidated financial statements. The Company does not have either Level 3 fair value measurements or transfers between Level 1 or Level 2 in its current portfolios, and therefore, does not expect this ASU to have an impact on the Company's financial statements and disclosures. Compensation - Retirement Benefits In August 2018, the FASB issued ASU No. 2018-14, an amendment to ASC 715, Compensation - Retirement Benefits , which removes disclosures that no longer are considered cost-beneficial, clarifies the specific requirements of certain disclosures and adds new disclosure requirements identified as relevant. The guidance is effective for the Company beginning October 1, 2021, with early adoption permitted. Upon adoption, the amended presentation and disclosure guidance will be applied on a retrospective basis. The Company is continuing to evaluate the amendment to fully understand the impact on the Company's disclosures upon adoption but it is not expecting this ASU to materially affect the financial statements and disclosures. Income Taxes In December 2019, the FASB issued ASU No. 2019-12, an amendment to ASC 740, Income Taxes , which is intended to simplify the accounting for income taxes and changes the accounting for certain income tax transactions, among other minor improvements. The guidance is effective for the Company beginning October 1, 2021, with early adoption permitted. Upon adoption, the amendments will be applied on a prospective basis. The Company is currently evaluating the amendments to understand the impact on its financial position, results of operations, cash flows and disclosures upon adoption. Investments - Equity Method and Derivatives and Hedging In January 2020, the FASB issued ASU No. 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 . The update states that an entity is required to evaluate observable transactions that necessitate applying or discontinuing the equity method of accounting, when applying the measurement alternative in Topic 321. This evaluation occurs prior to applying or upon ceasing the equity method. The update also states that when applying paragraph 815-10-15-141(a) for forward contracts and purchased options, an entity is not required to assess whether the underlying securities will be accounted for under the equity method in accordance with Topic 323 or fair value method under Topic 825 upon settlement or exercise. The guidance is effective for the Company beginning October 1, 2021, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this ASU but does not expect that its pending adoption will have a material effect on its consolidated financial statements.
Derivative Instruments	The Company is subject primarily to commodity price risk due to fluctuations in the market price of natural gas, SRECs and electricity. To manage this risk, the Company enters into a variety of derivative instruments including, but not limited to, futures contracts, physical forward contracts, financial options and swaps to economically hedge the commodity price risk associated with its existing and anticipated commitments to purchase and sell natural gas, SRECs and electricity. In addition, the Company is exposed to foreign currency and interest rate risk and may utilize foreign currency derivatives to hedge Canadian dollar denominated gas purchases and/or sales and interest rate derivatives to reduce exposure to fluctuations in interest rates. All of these types of contracts are accounted for as derivatives. Accordingly, all of the financial and certain of the Company's physical derivative instruments are recorded at fair value on the Unaudited Condensed Consolidated Balance Sheets. For a more detailed discussion of the Company's fair value measurement policies and level disclosures associated with NJR's derivative instruments, see Note 6. Fair Value . Energy Services Energy Services chooses not to designate its financial commodity and physical forward commodity derivatives as accounting hedges or to elect NPNS. The changes in the fair value of these derivatives are recorded as a component of gas purchases or operating revenues, as appropriate for Energy Services, on the Unaudited Condensed Consolidated Statements of Operations as unrealized gains or losses. For Energy Services at settlement, realized gains and losses on all financial derivative instruments are recognized as a component of gas purchases and realized gains and losses on all physical derivatives follow the presentation of the related unrealized gains and losses as a component of either gas purchases or operating revenues. Energy Services also enters into natural gas transactions in Canada and, consequently, is exposed to fluctuations in the value of Canadian currency relative to the U.S. dollar. Energy Services may utilize foreign currency derivatives to lock in the exchange rates associated with natural gas transactions denominated in Canadian currency. The derivatives may include currency forwards, futures, or swaps and are accounted for as derivatives. These derivatives are typically used to hedge demand fee payments on pipeline capacity, storage and gas purchase agreements. As a result of Energy Services entering into transactions to borrow natural gas, commonly referred to as “park and loans,” an embedded derivative is recognized relating to differences between the fair value of the amount borrowed and the fair value of the amount that will ultimately be repaid, based on changes in the forward price for natural gas prices at the borrowed location over the contract term. This embedded derivative is accounted for as a forward sale in the month in which the repayment of the borrowed gas is expected to occur, and is considered a derivative transaction that is recorded at fair value on the Unaudited Condensed Consolidated Balance Sheets, with changes in value recognized in current period earnings. Expected production of SRECs is hedged through the use of forward and futures contracts. All contracts require the Company to physically deliver SRECs through the transfer of certificates as per contractual settlement schedules. Energy Services recognizes changes in the fair value of these derivatives as a component of operating revenues. Upon settlement of the contract, the related revenue is recognized when the SREC is transferred to the counterparty. Natural Gas Distribution Changes in fair value of NJNG's financial commodity derivatives are recorded as a component of regulatory assets or liabilities on the Unaudited Condensed Consolidated Balance Sheets. The Company elects NPNS accounting treatment on all physical commodity contracts that NJNG entered into on or before December 31, 2015, and accounts for these contracts on an accrual basis. Accordingly, physical natural gas purchases are recognized in regulatory assets or liabilities on the Unaudited Condensed Consolidated Balance Sheets when the contract settles and the natural gas is delivered. The average cost of natural gas is charged to expense in the current period earnings based on the BGSS factor times the therm sales. Effective for contracts executed on or after January 1, 2016, NJNG no longer elects NPNS accounting treatment on all physical forward commodity contracts. However, since NPNS is a contract-by-contract election, where it makes sense to do so, NJNG can and may elect certain contracts to be normal. Because NJNG recovers these amounts through future BGSS rates as increases or decreases to the cost of natural gas in NJNG’s tariff for gas service, the changes in fair value of these contracts are deferred as a component of regulatory assets or liabilities on the Unaudited Condensed Consolidated Balance Sheets. Clean Energy Ventures The Company elects NPNS accounting treatment on PPA contracts that Clean Energy Ventures enters into that meet the definition of a derivative and accounts for the contract on an accrual basis. Accordingly, electricity sales are recognized in revenues throughout the term of the PPA as electricity is delivered. NPNS is a contract-by-contract election and where it makes sense to do so, the Company can and may elect certain contracts to be normal.
Fair Value Hierarchy	Fair Value Hierarchy NJR applies fair value measurement guidance to its financial assets and liabilities, as appropriate, which include financial derivatives and physical commodity contracts qualifying as derivatives, investments in equity securities and other financial assets and liabilities. In addition, authoritative accounting literature prescribes the use of a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based on the source of the data used to develop the price inputs. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and the lowest priority to inputs that are based on unobservable market data and include the following: Level 1 Unadjusted quoted prices for identical assets or liabilities in active markets. NJR's Level 1 assets and liabilities include exchange traded natural gas futures and options contracts, listed equities and money market funds. Exchange traded futures and options contracts include all energy contracts traded on the NYMEX, CME and ICE that NJR refers to internally as basis swaps, fixed swaps, futures and financial options that are cleared through a FCM. Level 2 Other significant observable inputs such as interest rates or price data, including both commodity and basis pricing that is observed either directly or indirectly from publications or pricing services. NJR's Level 2 assets and liabilities include over-the-counter physical forward commodity contracts and swap contracts, SREC forward sales or derivatives that are initially valued using observable quotes and are subsequently adjusted to include time value, credit risk or estimated transport pricing components for which no basis price is available. Level 2 financial derivatives consist of transactions with non-FCM counterparties (basis swaps, fixed swaps and/or options). NJNG's treasury lock is also considered Level 2 as valuation is based on quoted market interest and swap rates as inputs to the valuation model. Inputs are verifiable and do not require significant management judgment. For some physical commodity contracts the Company utilizes transportation tariff rates that are publicly available and that it considers to be observable inputs that are equivalent to market data received from an independent source. There are no significant judgments or adjustments applied to the transportation tariff inputs and no market perspective is required. Even if the transportation tariff input were considered to be a “model,” it would still be considered to be a Level 2 input as the data is: • widely accepted and public; • non-proprietary and sourced from an independent third party; and • observable and published. These additional adjustments are generally not considered to be significant to the ultimate recognized values. Level 3 Inputs derived from a significant amount of unobservable market data. These include NJR's best estimate of fair value and are derived primarily through the use of internal valuation methodologies.
Lessee Accounting	Lessee Accounting The Company determines if an arrangement is a lease at inception based on whether the Company has the right to control the use of an identified asset, the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset and accounts for leases in accordance with ASC 842, Leases . Right-of-use assets represent the Company’s right to use the underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term, including payments at commencement that depend on an index or rate. Most leases in which the Company is the lessee do not have a readily determinable implicit rate, so an incremental borrowing rate, based on the information available at the lease commencement date, is utilized to determine the present value of lease payments. When a secured borrowing rate is not readily available, unsecured borrowing rates are adjusted for the effects of collateral to determine the incremental borrowing rate. The Company uses the implicit rate for agreements in which it is a lessor. The Company has not entered into any material agreements in which it is a lessor. Lease expense and lease income are recognized on a straight-line basis over the lease term for operating leases. For more information on the adoption of ASC 842, Leases , see Note 2. Summary of Significant Accounting Policies . The Company’s lease agreements primarily consist of commercial solar land leases, storage and capacity leases, equipment and real property, including land and office facilities, office equipment and the sale-leaseback of its natural gas meters. Certain leases contain escalation provisions for inflation metrics. The storage leases contain a variable payment component that relates to the change in the inflation metrics that are not known past the current payment period. These variable components of these lease payments are excluded from the lease payments that are used to determine the related right-of-use lease asset and liability. The variable portion of these leases are recognized as leasing expenses when they are incurred. The capacity lease payments are fully variable and based on the amount of gas stored in the storage caverns. Generally, the Company’s solar land leases terms are between 15 and 25 years and include options to extend the terms for multiple additional 5 to 10 year terms each. The Company’s office leases vary in duration, ranging from 1 to 25 years and may or may not include extension or early purchase options. The majority of the Company’s meter leases are for terms of 7 years with purchase options available prior to the end of the 7 year term. Equipment leases include general office equipment that also vary in duration, most are for a term of 5 years. The Company's storage and capacity leases have assumed terms of 50 years to coincide with the expected useful lives of the cavern assets with which the leases are associated. The Company's lease terms may include options to extend, purchase the leased asset or terminate a lease and they are included in the lease liability calculation when it is reasonably certain that those options will be exercised. The Company has elected an accounting policy that exempts leases with an original term of one year or less from the recognition requirements of ASC 842, Leases. The Company has lease agreements with lease and non-lease components and has elected the practical expedient to combine lease and non-lease components for certain classes of leases, such as office buildings, solar land leases and office equipment. Variable payments are not significant to the Company. The Company’s lease agreements do not contain any material residual value guarantees, material restrictions or material covenants. There are no material lease transactions with related parties.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Gas in Storage	The following table summarizes gas in storage, at average cost by segment as of: June 30, 2020 September 30, 2019 ($ in thousands) Gas in Storage Bcf Gas in Storage Bcf Energy Services $ 50,400 33.1 $ 52,390 25.6 Natural Gas Distribution 73,501 17.5 117,413 27.0 Midstream 61 — — — Total $ 123,962 50.6 $ 169,803 52.6
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the Unaudited Condensed Consolidated Balance Sheets to the total amounts in the Unaudited Condensed Consolidated Statements of Cash Flows as follows: (Thousands) June 30, September 30, June 30, September 30, Balance Sheet Cash and cash equivalents $ 42,821 $ 2,676 $ 26,297 $ 1,458 Restricted cash in other noncurrent assets 2,424 1,387 391 252 Statements of Cash Flow Cash, cash equivalents and restricted cash in the statement of cash flows $ 45,245 $ 4,063 $ 26,688 $ 1,710
Schedule of Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the Unaudited Condensed Consolidated Balance Sheets to the total amounts in the Unaudited Condensed Consolidated Statements of Cash Flows as follows: (Thousands) June 30, September 30, June 30, September 30, Balance Sheet Cash and cash equivalents $ 42,821 $ 2,676 $ 26,297 $ 1,458 Restricted cash in other noncurrent assets 2,424 1,387 391 252 Statements of Cash Flow Cash, cash equivalents and restricted cash in the statement of cash flows $ 45,245 $ 4,063 $ 26,688 $ 1,710
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in the components of accumulated other comprehensive income (loss), net of related tax effects during the three months ended June 30, 2020 and 2019 : (Thousands) Investments in Equity Securities Cash Flow Hedges Postemployment Benefit Obligation Total Balance at March 31, 2020 $ — $ (9,711 ) $ (24,928 ) $ (34,639 ) Other comprehensive income (loss), net of tax Other comprehensive (loss) income, before reclassifications, net of tax of $0, $180, $0, $180 — (626 ) — (626 ) Amounts reclassified from accumulated other comprehensive loss, net of tax of $0, $0, $(191), $(191) — — 663 (1) 663 Net current-period other comprehensive income, net of tax of $0, $180, $(191), $(11) — (626 ) 663 37 Balance at June 30, 2020 $ — $ (10,337 ) $ (24,265 ) $ (34,602 ) Balance at March 31, 2019 $ — $ — $ (15,517 ) $ (15,517 ) Other comprehensive income (loss), net of tax Amounts reclassified from accumulated other comprehensive loss, net of tax of $0, $(118), $(118) — — 305 (1) 305 Balance at June 30, 2019 $ — $ — $ (15,212 ) $ (15,212 ) (1) Included in the computation of net periodic pension cost, a component of operations and maintenance expense on the Unaudited Condensed Consolidated Statements of Operations. The following table presents the changes in the components of accumulated other comprehensive income (loss), net of related tax effects during the nine months ended June 30, 2020 and 2019 : (Thousands) Investments in Equity Securities Cash Flow Hedges Postemployment Benefit Obligation Total Balance at September 30, 2019 $ — $ — $ (31,787 ) $ (31,787 ) Other comprehensive income (loss), net of tax Other comprehensive (loss) income, before reclassifications, net of tax of $0, $2,961, $(1,681), $1,280 — (10,337 ) 5,378 (4,959 ) Amounts reclassified from accumulated other comprehensive loss, net of tax of $0, $0, $(480), $(480) — — 2,144 (1) 2,144 Net current-period other comprehensive income, net of tax of $0, $2,961, $(2,161), $800 — (10,337 ) 7,522 (2,815 ) Balance at June 30, 2020 $ — $ (10,337 ) $ (24,265 ) $ (34,602 ) Balance at September 30, 2018 $ 3,446 $ — $ (16,056 ) $ (12,610 ) Other comprehensive income (loss), net of tax Amounts reclassified from accumulated other comprehensive income (loss), net of tax of $0, $(333), $(333) — — 844 (1) 844 Reclassification to retained earnings $ (3,446 ) (2) $ — $ (3,446 ) Balance at June 30, 2019 $ — $ — $ (15,212 ) $ (15,212 ) (1) Included in the computation of net periodic pension cost, a component of operations and maintenance expense on the Unaudited Condensed Consolidated Statements of Operations. (2) Due to the adoption of ASU No. 2016-01, an amendment to ASC 825, Financial Instruments .

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Performance obligation, recognition period	Below is a listing of performance obligations that arise from contracts with customers, along with details on the satisfaction of each performance obligation, the significant payment terms and the nature of the goods and services being transferred, by reporting segment and other business operations: Revenue Recognized Over Time: Segment Performance Obligation Description Natural Gas Distribution Natural gas utility sales NJNG's performance obligation is to provide natural gas to residential, commercial and industrial customers as demanded, based on regulated tariff rates, which are established by the BPU. Revenues from the sale of natural gas are recognized in the period that gas is delivered and consumed by customers, including an estimate for quantities consumed but not billed during the period. Payment is due each month for the previous month's deliveries. Natural gas sales to individual customers are based on meter readings, which are performed on a systematic basis throughout the billing period. The unbilled revenue estimates are based on estimated customer usage by customer type, weather effects and the most current tariff rates. NJNG is entitled to be compensated for performance completed until service is terminated. Customers may elect to purchase the natural gas commodity from NJNG or may contract separately to purchase natural gas directly from third-party suppliers. As NJNG is acting as an agent on behalf of the third-party supplier, revenue is recorded for the delivery of natural gas to the customer. Clean Energy Ventures Commercial solar and wind electricity Clean Energy Ventures operates wholly-owned solar projects that recognize revenue as electricity is generated and transferred to the customer. The performance obligation is to provide electricity to the customer in accordance with contract terms or the interconnection agreement and is satisfied upon transfer of electricity generated. All wind assets were sold as of February 2019. Revenue is recognized as invoiced and the payment is due each month for the previous month's services. Clean Energy Ventures Residential solar electricity Clean Energy Ventures provides access to residential rooftop and ground-mount solar equipment to customers who then pay the Company a monthly fee. The performance obligation is to provide electricity to the customer based on generation from the underlying residential solar asset and is satisfied upon transfer of electricity generated. Revenue is derived from the contract terms and is recognized as invoiced, with the payment due each month for the previous month's services. Energy Services Natural gas services The performance obligation of Energy Services is to provide the customer transportation, storage and asset management services on an as-needed basis. Energy Services generates revenue through management fees, demand charges, reservation fees and transportation charges centered around the buying and selling of the natural gas commodity, representing one series of distinct performance obligations. Revenue is recognized based upon the underlying natural gas quantities physically delivered and the customer obtaining control. Energy Services invoices customers on a monthly basis in line with the terms of the contract and based on the services provided. Payment is due each month for the previous month's invoiced services. Midstream Natural gas services The performance obligation of Midstream is to provide the customer with storage and transportation services. Midstream generates revenues from firm storage contracts and transportation contracts, related usage fees for the use of storage space, injection and withdrawal at the storage facility and the delivery of natural gas to customers. Revenue is recognized over time as our customers receive the benefits of our service as it is performed on their behalf using an output method based on actual deliveries. Demand fees are recognized as revenue over the term of the related agreement. Home Services and Other Service contracts Home Services enters into service contracts with homeowners to provide maintenance and replacement services of applicable heating, cooling or ventilation equipment. All services provided relate to a distinct performance obligation which is to provide services for the specific equipment over the term of the contract. Revenue is recognized on a straight-line basis over the term of the contract and payment is due upon receipt of the invoice. Revenue Recognized at a Point in Time: Midstream Natural gas services The performance obligation of Midstream is to provide the customer with storage and transportation services. Midstream generates revenues from hub services for the use of storage space, injection and withdrawal from the storage facility. Hub services include park and loan transactions and wheeling. Home Services and Other Installations Home Services installs appliances, including but not limited to, furnaces, air conditioning units, boilers and generators to customers. The distinct performance obligation is the installation of the contracted appliance, which is satisfied at the point in time the item is installed.
Disaggregation of Revenue	Disaggregated revenues from contracts with customers by product line and by reporting segment and other business operations during the three months ended June 30, 2020 , is as follows: (Thousands) Natural Gas Distribution Clean Energy Ventures Energy Services Midstream Home Services and Other Total 2020 Natural gas utility sales $ 124,888 — — — — $ 124,888 Wholesale natural gas services — — 3,536 11,863 — 15,399 Service contracts — — — — 8,126 8,126 Installations and maintenance — — — — 4,243 4,243 Electricity sales — 5,294 — — — 5,294 Eliminations (1) — — — (720 ) (206 ) (926 ) Revenues from contracts with customers 124,888 5,294 3,536 11,143 12,163 157,024 Alternative revenue programs (2,665 ) — — — — (2,665 ) Derivative Instruments 6,309 8,102 (2) 130,007 — — 144,418 Eliminations (1) — — 197 — — 197 Revenues out of scope 3,644 8,102 130,204 — — 141,950 Total operating revenues $ 128,532 13,396 133,740 11,143 12,163 $ 298,974 2019 Natural gas utility sales $ 115,525 — — — — $ 115,525 Wholesale natural gas services — — 3,876 — — 3,876 Service contracts — — — — 7,890 7,890 Installations and maintenance — — — — 5,193 5,193 Electricity sales — 4,745 — — — 4,745 Eliminations (1) — — — — (456 ) (456 ) Revenues from contracts with customers 115,525 4,745 3,876 — 12,627 136,773 Alternative revenue programs 2,025 — — — — 2,025 Derivative Instruments 3,232 6,705 (2) 286,145 — — 296,082 Eliminations (1) — — 62 — — 62 Revenues out of scope 5,257 6,705 286,207 — — 298,169 Total operating revenues $ 120,782 11,450 290,083 — 12,627 $ 434,942 (1) Consists of transactions between subsidiaries that are eliminated in consolidation. (2) Includes SREC revenue. Disaggregated revenues from contracts with customers by product line and by reporting segment and other business operations during the nine months ended June 30, 2020 and 2019 , is as follows: (Thousands) Natural Gas Distribution Clean Energy Ventures Energy Services Midstream Home Services and Other Total 2020 Natural gas utility sales $ 611,650 — — — — $ 611,650 Natural gas services — — 20,491 32,011 — 52,502 Service contracts — — — — 24,237 24,237 Installations and maintenance — — — — 13,404 13,404 Electricity sales — 13,770 — — — 13,770 Eliminations (1) — — — (2,062 ) (947 ) (3,009 ) Revenues from contracts with customers 611,650 13,770 20,491 29,949 36,694 712,554 Alternative revenue programs 17,465 — — — — 17,465 Derivative Instruments 16,260 11,833 (2) 797,168 — — 825,261 Eliminations (1) — — (1,656 ) — — (1,656 ) Revenues out of scope 33,725 11,833 795,512 — — 841,070 Total operating revenues $ 645,375 25,603 816,003 29,949 36,694 $ 1,553,624 2019 Natural gas utility sales $ 598,676 — — — — $ 598,676 Natural gas services — — 26,204 — — 26,204 Service contracts — — — — 23,533 23,533 Installations and maintenance — — — — 14,373 14,373 Electricity sales — 16,944 — — — 16,944 Eliminations (1) — — — — (1,653 ) (1,653 ) Revenues from contracts with customers 598,676 16,944 26,204 — 36,253 678,077 Alternative revenue programs 9,059 — — — — 9,059 Derivative Instruments 14,432 20,763 (2) 1,398,909 — — 1,434,104 Eliminations (1) — — (8,276 ) — — (8,276 ) Revenues out of scope 23,491 20,763 1,390,633 — — 1,434,887 Total operating revenues $ 622,167 37,707 1,416,837 — 36,253 $ 2,112,964 (1) Consists of transactions between subsidiaries that are eliminated in consolidation. (2) Includes SREC revenue. Disaggregated revenues from contracts with customers by customer type and by reporting segment and other business operations during the three months ended June 30, 2020 and 2019 , is as follows: (Thousands) Natural Gas Distribution Clean Energy Ventures Energy Services Midstream Home Services and Other Total 2020 Residential $ 89,095 2,587 — — 11,845 $ 103,527 Commercial and industrial 20,050 2,707 3,536 11,143 318 37,754 Firm transportation 14,331 — — — — 14,331 Interruptible and off-tariff 1,412 — — — — 1,412 Revenues out of scope 3,644 8,102 130,204 — — 141,950 Total operating revenues $ 128,532 13,396 133,740 11,143 12,163 $ 298,974 2019 Residential $ 63,984 2,304 — — 12,388 $ 78,676 Commercial and industrial 37,511 2,441 3,876 — 239 44,067 Firm transportation 12,296 — — — — 12,296 Interruptible and off-tariff 1,734 — — — — 1,734 Revenues out of scope 5,257 6,705 286,207 — — 298,169 Total operating revenues $ 120,782 11,450 290,083 — 12,627 $ 434,942 Disaggregated revenues from contracts with customers by customer type and by reporting segment and other business operations during the nine months ended June 30, 2020 and 2019 , is as follows: (Thousands) Natural Gas Distribution Clean Energy Ventures Energy Services Midstream Home Services and Other Total 2020 Residential $ 442,093 7,516 — — 35,955 $ 485,564 Commercial and industrial 107,107 6,254 20,491 29,949 739 164,540 Firm transportation 58,043 — — — — 58,043 Interruptible and off-tariff 4,407 — — — — 4,407 Revenues out of scope 33,725 11,833 795,512 — — 841,070 Total operating revenues $ 645,375 25,603 816,003 29,949 36,694 $ 1,553,624 2019 Residential $ 402,192 6,627 — — 35,522 $ 444,341 Commercial and industrial 139,691 10,317 26,204 — 731 176,943 Firm transportation 52,006 — — — — 52,006 Interruptible and off-tariff 4,787 — — — — 4,787 Revenues out of scope 23,491 20,763 1,390,633 — — 1,434,887 Total operating revenues $ 622,167 37,707 1,416,837 — 36,253 $ 2,112,964
Expected Timing of Performance	The timing of revenue recognition, customer billings and cash collections resulting in accounts receivables, billed and unbilled, and customers’ credit balances and deposits on the Unaudited Condensed Consolidated Balance Sheets during the nine months ended June 30, 2020 , are as follows: Customer Accounts Receivable Customers' Credit (Thousands) Billed Unbilled Balances and Deposits Balance as of October 1, 2019 $ 139,263 $ 6,510 $ 27,116 Increase (decrease) 3,796 2,228 (7,060 ) Balance as of June 30, 2020 $ 143,059 $ 8,738 $ 20,056
Performance obligation, in excess of billings	The following table provides information about receivables, which are included within accounts receivable, billed and unbilled, and customers’ credit balances and deposits, respectively, on the Unaudited Condensed Consolidated Balance Sheets as of June 30, 2020 : (Thousands) Natural Gas Distribution Clean Energy Ventures Energy Services Midstream Home Services and Other Total Customer accounts receivable Billed $ 78,370 3,469 55,364 3,828 2,028 $ 143,059 Unbilled 8,738 — — — — 8,738 Customers' credit balances and deposits (20,056 ) — — — — (20,056 ) Total $ 67,052 3,469 55,364 3,828 2,028 $ 131,741

REGULATION (Tables)

REGULATION (Tables)	9 Months Ended
	Jun. 30, 2020
Regulated Operations [Abstract]
Schedule of Regulator Liabilities	Regulatory assets and liabilities included on the Unaudited Condensed Consolidated Balance Sheets are comprised of the following: (Thousands) June 30, September 30, Regulatory assets-current New Jersey Clean Energy Program $ 17,062 $ 15,468 Under-recovered gas costs — 9,506 Conservation Incentive Program 20,836 3,371 Derivatives at fair value, net 9,845 4,526 Other 4,508 — Total current regulatory assets $ 52,251 $ 32,871 Regulatory assets-noncurrent Environmental remediation costs Expended, net of recoveries $ 36,053 $ 38,351 Liability for future expenditures 128,886 131,080 Deferred income taxes 22,477 19,631 Derivatives at fair value, net — 486 SAVEGREEN 15,229 10,201 Postemployment and other benefit costs 161,847 212,461 Deferred storm damage costs 7,058 8,687 Cost of removal 62,831 65,660 Other noncurrent regulatory assets 16,720 10,080 Total noncurrent regulatory assets $ 451,101 $ 496,637 Regulatory liabilities-current Over-recovered gas costs 6,774 — Total current regulatory liabilities $ 6,774 $ — Regulatory liabilities-noncurrent Tax Act impact (1) $ 196,705 $ 200,417 New Jersey Clean Energy Program 128 197 Other noncurrent regulatory liabilities 448 1,821 Total noncurrent regulatory liabilities $ 197,281 $ 202,435 (1) Reflects the re-measurement and subsequent amortization of NJNG's net deferred tax liabilities as a result of the change in federal tax rates enacted in the Tax Act.
Schedule of Regulatory Assets	Regulatory assets and liabilities included on the Unaudited Condensed Consolidated Balance Sheets are comprised of the following: (Thousands) June 30, September 30, Regulatory assets-current New Jersey Clean Energy Program $ 17,062 $ 15,468 Under-recovered gas costs — 9,506 Conservation Incentive Program 20,836 3,371 Derivatives at fair value, net 9,845 4,526 Other 4,508 — Total current regulatory assets $ 52,251 $ 32,871 Regulatory assets-noncurrent Environmental remediation costs Expended, net of recoveries $ 36,053 $ 38,351 Liability for future expenditures 128,886 131,080 Deferred income taxes 22,477 19,631 Derivatives at fair value, net — 486 SAVEGREEN 15,229 10,201 Postemployment and other benefit costs 161,847 212,461 Deferred storm damage costs 7,058 8,687 Cost of removal 62,831 65,660 Other noncurrent regulatory assets 16,720 10,080 Total noncurrent regulatory assets $ 451,101 $ 496,637 Regulatory liabilities-current Over-recovered gas costs 6,774 — Total current regulatory liabilities $ 6,774 $ — Regulatory liabilities-noncurrent Tax Act impact (1) $ 196,705 $ 200,417 New Jersey Clean Energy Program 128 197 Other noncurrent regulatory liabilities 448 1,821 Total noncurrent regulatory liabilities $ 197,281 $ 202,435 (1) Reflects the re-measurement and subsequent amortization of NJNG's net deferred tax liabilities as a result of the change in federal tax rates enacted in the Tax Act.

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Assets and Liabilities	The following table presents the fair value of NJR's derivative assets and liabilities recognized on the Unaudited Condensed Consolidated Balance Sheets as of: Fair Value June 30, 2020 September 30, 2019 (Thousands) Balance Sheet Location Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Derivatives not designated as hedging instruments: Natural Gas Distribution: Physical commodity contracts Derivatives - current $ 66 $ 133 $ 67 $ 245 Financial commodity contracts Derivatives - current — 190 382 570 Interest rate contracts Derivatives - current — 5,056 — — Energy Services: Physical commodity contracts Derivatives - current 5,440 17,242 6,847 27,540 Derivatives - noncurrent 2,671 22,448 1,710 12,641 Financial commodity contracts Derivatives - current 23,852 13,447 17,806 29,057 Derivatives - noncurrent 3,647 1,129 5,716 6,105 Foreign currency contracts Derivatives - current 9 230 1 211 Derivatives - noncurrent 29 23 — 75 Derivatives designated as hedging instruments: Home Services and Other: Interest rate contracts Derivatives - current — 10,796 — — Total fair value of derivatives $ 35,714 $ 70,694 $ 32,529 $ 76,444
Offsetting Assets	The following table summarizes the reported gross amounts, the amounts that the Company has the right to offset but elects not to, financial collateral, as well as the net amounts the Company could present on the Unaudited Condensed Consolidated Balance Sheets but elects not to. (Thousands) Amounts Presented on Balance Sheets (1) Offsetting Derivative Instruments (2) Financial Collateral Received/Pledged (3) Net Amounts (4) As of June 30, 2020: Derivative assets: Energy Services Physical commodity contracts $ 8,111 $ (3,097 ) $ (200 ) $ 4,814 Financial commodity contracts 27,499 (14,576 ) — 12,923 Foreign currency contracts 38 (38 ) — — Total Energy Services $ 35,648 $ (17,711 ) $ (200 ) $ 17,737 Natural Gas Distribution Physical commodity contracts $ 66 $ (39 ) $ — $ 27 Total Natural Gas Distribution $ 66 $ (39 ) $ — $ 27 Derivative liabilities: Energy Services Physical commodity contracts $ 39,690 $ (3,097 ) $ — $ 36,593 Financial commodity contracts 14,576 (14,576 ) — — Foreign currency contracts 253 (38 ) — 215 Total Energy Services $ 54,519 $ (17,711 ) $ — $ 36,808 Natural Gas Distribution Physical commodity contracts $ 133 $ (39 ) $ — $ 94 Financial commodity contracts 190 — (190 ) — Interest rate contracts 5,056 — — 5,056 Total Natural Gas Distribution $ 5,379 $ (39 ) $ (190 ) $ 5,150 Home Services and Other Interest rate contracts $ 10,796 $ — $ — $ 10,796 Total Home Services and Other $ 10,796 $ — $ — $ 10,796 As of September 30, 2019: Derivative assets: Energy Services Physical commodity contracts $ 8,557 $ (2,906 ) $ (200 ) $ 5,451 Financial commodity contracts 23,522 (19,646 ) — 3,876 Foreign currency contracts 1 (1 ) — — Total Energy Services $ 32,080 $ (22,553 ) $ (200 ) $ 9,327 Natural Gas Distribution Physical commodity contracts $ 67 $ (9 ) $ — $ 58 Financial commodity contracts 382 (382 ) — — Total Natural Gas Distribution $ 449 $ (391 ) $ — $ 58 Derivative liabilities: Energy Services Physical commodity contracts $ 40,181 $ (2,906 ) $ — $ 37,275 Financial commodity contracts 35,162 (19,646 ) (15,516 ) — Foreign currency contracts 286 (1 ) — 285 Total Energy Services $ 75,629 $ (22,553 ) $ (15,516 ) $ 37,560 Natural Gas Distribution Physical commodity contracts $ 245 $ (9 ) $ — $ 236 Financial commodity contracts 570 (382 ) (188 ) — Total Natural Gas Distribution $ 815 $ (391 ) $ (188 ) $ 236 (1) Derivative assets and liabilities are presented on a gross basis on the balance sheet as the Company does not elect balance sheet offsetting under ASC 210-20. (2) Includes transactions with NAESB netting election, transactions held by FCMs with net margining and transactions with ISDA netting. (3) Financial collateral includes cash balances at FCMs as well as cash received from or pledged to other counterparties. (4) Net amounts represent presentation of derivative assets and liabilities if the Company were to elect balance sheet offsetting under ASC 210-20.
Offsetting Liabilities	The following table summarizes the reported gross amounts, the amounts that the Company has the right to offset but elects not to, financial collateral, as well as the net amounts the Company could present on the Unaudited Condensed Consolidated Balance Sheets but elects not to. (Thousands) Amounts Presented on Balance Sheets (1) Offsetting Derivative Instruments (2) Financial Collateral Received/Pledged (3) Net Amounts (4) As of June 30, 2020: Derivative assets: Energy Services Physical commodity contracts $ 8,111 $ (3,097 ) $ (200 ) $ 4,814 Financial commodity contracts 27,499 (14,576 ) — 12,923 Foreign currency contracts 38 (38 ) — — Total Energy Services $ 35,648 $ (17,711 ) $ (200 ) $ 17,737 Natural Gas Distribution Physical commodity contracts $ 66 $ (39 ) $ — $ 27 Total Natural Gas Distribution $ 66 $ (39 ) $ — $ 27 Derivative liabilities: Energy Services Physical commodity contracts $ 39,690 $ (3,097 ) $ — $ 36,593 Financial commodity contracts 14,576 (14,576 ) — — Foreign currency contracts 253 (38 ) — 215 Total Energy Services $ 54,519 $ (17,711 ) $ — $ 36,808 Natural Gas Distribution Physical commodity contracts $ 133 $ (39 ) $ — $ 94 Financial commodity contracts 190 — (190 ) — Interest rate contracts 5,056 — — 5,056 Total Natural Gas Distribution $ 5,379 $ (39 ) $ (190 ) $ 5,150 Home Services and Other Interest rate contracts $ 10,796 $ — $ — $ 10,796 Total Home Services and Other $ 10,796 $ — $ — $ 10,796 As of September 30, 2019: Derivative assets: Energy Services Physical commodity contracts $ 8,557 $ (2,906 ) $ (200 ) $ 5,451 Financial commodity contracts 23,522 (19,646 ) — 3,876 Foreign currency contracts 1 (1 ) — — Total Energy Services $ 32,080 $ (22,553 ) $ (200 ) $ 9,327 Natural Gas Distribution Physical commodity contracts $ 67 $ (9 ) $ — $ 58 Financial commodity contracts 382 (382 ) — — Total Natural Gas Distribution $ 449 $ (391 ) $ — $ 58 Derivative liabilities: Energy Services Physical commodity contracts $ 40,181 $ (2,906 ) $ — $ 37,275 Financial commodity contracts 35,162 (19,646 ) (15,516 ) — Foreign currency contracts 286 (1 ) — 285 Total Energy Services $ 75,629 $ (22,553 ) $ (15,516 ) $ 37,560 Natural Gas Distribution Physical commodity contracts $ 245 $ (9 ) $ — $ 236 Financial commodity contracts 570 (382 ) (188 ) — Total Natural Gas Distribution $ 815 $ (391 ) $ (188 ) $ 236 (1) Derivative assets and liabilities are presented on a gross basis on the balance sheet as the Company does not elect balance sheet offsetting under ASC 210-20. (2) Includes transactions with NAESB netting election, transactions held by FCMs with net margining and transactions with ISDA netting. (3) Financial collateral includes cash balances at FCMs as well as cash received from or pledged to other counterparties. (4) Net amounts represent presentation of derivative assets and liabilities if the Company were to elect balance sheet offsetting under ASC 210-20.
Effect of Derivative Instruments on Consolidated Statements of Operations	The following table presents the effect of derivative instruments recognized on the Unaudited Condensed Consolidated Statements of Operations for the periods set forth below: (Thousands) Location of gain (loss) recognized in income on derivatives Amount of gain (loss) recognized in income on derivatives Three Months Ended Nine Months Ended June 30, June 30, Derivatives not designated as hedging instruments: 2020 2019 2020 2019 Energy Services: Physical commodity contracts Operating revenues $ (18,061 ) $ 1,435 $ 3,871 $ 74 Physical commodity contracts Gas purchases 1,014 2,392 (2,288 ) 266 Financial commodity contracts Gas purchases 2,408 22,919 71,820 17,732 Foreign currency contracts Gas purchases 181 37 (179 ) (188 ) Home Services and Other: Interest rate contracts Interest expense — (43 ) (228 ) Total unrealized and realized gains (losses) $ (14,458 ) $ 26,740 $ 73,224 $ 17,656
Effect of Derivative Instruments Designated as Cash Flow Hedges on OCI	The following table reflects the (losses) gains associated with NJNG's derivative instruments for the periods set forth below: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) 2020 2019 2020 2019 Natural Gas Distribution: Physical commodity contracts $ 308 $ 812 $ 1,357 $ 5,225 Financial commodity contracts 1,029 (10,368 ) (11,493 ) (7,129 ) Interest rate contracts 1,636 — (5,056 ) — Total unrealized and realized (losses) gains $ 2,973 $ (9,556 ) $ (15,192 ) $ (1,904 )
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The following table reflects the effect of derivative instruments designated as cash flow hedges in OCI for the periods set forth below: (Thousands) Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) Amount of Gain or (Loss) Reclassified from OCI into Income (Effective Portion) Three Months Ended Three Months Ended June 30, June 30, Derivatives in cash flow hedging relationships: 2020 2019 2020 2019 Interest rate contracts $ (807 ) $ — $ — $ — Nine Months Ended Nine Months Ended June 30, June 30, Derivatives in cash flow hedging relationships: 2020 2019 2020 2019 Interest rate contracts $ (13,299 ) $ — $ — $ —
Schedule of Outstanding Long (Short) Derivatives	NJNG and Energy Services had the following outstanding long (short) derivatives as of: Volume (Bcf) June 30, September 30, Natural Gas Distribution Futures 18.8 27.6 Physical 10.3 11.6 Energy Services Futures (38.4 ) (29.6 ) Physical 12.6 44.5 Swaps (2.3 ) (5.0 )
Schedule of Broker Margin Accounts by Company	The balances are as follows: (Thousands) Balance Sheet Location June 30, September 30, Natural Gas Distribution Restricted broker margin accounts $ — $ 1,982 Accounts payable and other $ (219 ) $ — Energy Services Restricted broker margin accounts $ 52,211 $ 71,741
Summary of Gross Credit Exposures	The following is a summary of gross credit exposures grouped by investment and noninvestment grade counterparties, as of June 30, 2020 . The amounts presented below have not been reduced by any collateral received or netting and exclude accounts receivable for NJNG retail natural gas sales and services and Clean Energy Ventures residential solar installations. (Thousands) Gross Credit Exposure Investment grade $ 126,026 Noninvestment grade 8,915 Internally rated investment grade 22,877 Internally rated noninvestment grade 12,319 Total $ 170,137

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The estimated fair value of long-term debt, including current maturities, excluding capital leases, debt issuance costs and solar asset financing obligations, is as follows: (Thousands) June 30, September 30, Carrying value (1) (2) (3) (4) $ 1,492,845 $ 1,442,845 Fair market value $ 1,719,734 $ 1,568,864 (1) Excludes finance leases of $77.6 million and $35.4 million as of June 30, 2020 and September 30, 2019 , respectively. (2) Excludes solar asset financing obligations of $130.8 million and $91.4 million as of June 30, 2020 and September 30, 2019 , respectively. (3) Excludes NJNG's debt issuance costs of $9.2 million and $9 million as of June 30, 2020 and September 30, 2019 , respectively. (4) Excludes NJR's debt issuance costs of $1.5 million and $2 million as of June 30, 2020 and September 30, 2019 , respectively.
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are summarized as follows: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Thousands) (Level 1) (Level 2) (Level 3) Total As of June 30, 2020: Assets: Physical commodity contracts $ — $ 8,177 $ — $ 8,177 Financial commodity contracts 25,349 2,150 — 27,499 Financial commodity contracts - foreign exchange — 38 — 38 Money market funds 36,172 — — 36,172 Other (1) 1,814 — — 1,814 Total assets at fair value $ 63,335 $ 10,365 $ — $ 73,700 Liabilities: Physical commodity contracts $ — $ 39,823 $ — $ 39,823 Financial commodity contracts 14,766 — — 14,766 Financial commodity contracts - foreign exchange — 253 — 253 Interest rate contracts — 15,852 — 15,852 Total liabilities at fair value $ 14,766 $ 55,928 $ — $ 70,694 As of September 30, 2019: Assets: Physical commodity contracts $ — $ 8,624 $ — $ 8,624 Financial commodity contracts 20,028 3,876 — 23,904 Financial commodity contracts - foreign exchange — 1 — 1 Other (1) 1,706 — — 1,706 Total assets at fair value $ 21,734 $ 12,501 $ — $ 34,235 Liabilities: Physical commodity contracts $ — $ 40,426 $ — $ 40,426 Financial commodity contracts 35,732 — — 35,732 Financial commodity contracts - foreign exchange — 286 — 286 Total liabilities at fair value $ 35,732 $ 40,712 $ — $ 76,444

INVESTMENTS IN EQUITY INVESTE_2

INVESTMENTS IN EQUITY INVESTEES (Tables)	9 Months Ended
	Jun. 30, 2020
Investments, All Other Investments [Abstract]
Schedule of Equity Method Investments	NJR's investments in equity method investees include the following as of: (Thousands) June 30, September 30, Steckman Ridge $ 112,909 $ 114,428 PennEast (1) 92,891 85,840 Total $ 205,800 $ 200,268 (1) Includes a deferred tax component related to AFUDC equity of $4.6 million and $4.1 million for June 30, 2020 and September 30, 2019 , respectively.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	The following table presents the calculation of the Company's basic and diluted earnings per share for: Three Months Ended Nine Months Ended June 30, June 30, (Thousands, except per share amounts) 2020 2019 2020 2019 Net income, as reported $ (27,219 ) $ (8,402 ) $ 150,647 $ 151,419 Basic earnings per share Weighted average shares of common stock outstanding-basic 95,764 89,600 94,420 88,995 Basic earnings per common share $(0.28) $(0.09) $1.60 $1.70 Diluted earnings per share Weighted average shares of common stock outstanding-basic 95,764 89,600 94,420 88,995 Incremental shares (1) — — 298 407 Weighted average shares of common stock outstanding-diluted 95,764 89,600 94,718 89,402 Diluted earnings per common share (2) $(0.28) $(0.09) $1.59 $1.69 (1) C onsist primarily of unvested stock awards and performance shares. (2) There were anti-dilutive shares of 251,780 and 95,817 excluded from the calculation of diluted earnings per share related to the e quity forward sale agreement during the three and nine months ended June 30, 2020 , respectively. Since t here was a net loss for the three months ended June 30, 2020 and 2019 , incremental shares of 310,000 and 409,000 , respectively, were not included in the computation of diluted loss per common share, as their effect would have been anti-dilutive. There were no anti-dilutive shares excluded from the calculation of diluted earnings per share during the nine months ended June 30, 2019 .

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Line of Credit Facilities	A summary of NJR's credit facility and NJNG's commercial paper program and credit facility are as follows: (Thousands) June 30, September 30, Expiration Dates NJR Bank revolving credit facilities (1) $ 425,000 $ 425,000 December 2023 Notes outstanding at end of period $ 416,300 $ 25,450 Weighted average interest rate at end of period 1.06 % 3.04 % Amount available at end of period (2) $ 244 $ 394,800 Bank revolving credit facilities (1) $ 250,000 $ — April 2021 Notes outstanding at end of period $ — $ — Weighted average interest rate at end of period — % — % Amount available at end of period (2) $ 250,000 $ — NJNG Bank revolving credit facilities (1) $ 250,000 $ 250,000 December 2023 Commercial paper outstanding at end of period $ — $ — Weighted average interest rate at end of period 0.25 % — % Amount available at end of period (3) $ 249,269 $ 249,269 (1) Committed credit facilities, which require commitment fees on the unused amounts. (2) Letters of credit outstanding total $8.5 million and $4.8 million for June 30, 2020 and September 30, 2019 , respectively, which reduces amount available by the same amount. (3) Letters of credit outstanding total $731,000 for both June 30, 2020 and September 30, 2019 , which reduces the amount available by the same amount.

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
Components of Net Periodic Cost	The components of the net periodic cost for pension benefits, including the Company's Pension Equalization Plan, and OPEB costs (principally health care and life insurance) for employees and covered dependents were as follows: Pension OPEB Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended June 30, June 30, June 30, June 30, (Thousands) 2020 2019 2020 2019 2020 2019 2020 2019 Service cost $ 2,056 $ 1,845 $ 6,167 $ 5,536 $ 1,213 $ 1,101 $ 3,640 $ 3,303 Interest cost 2,647 3,043 7,940 9,129 1,757 2,081 5,270 6,243 Expected return on plan assets (5,145 ) (4,763 ) (15,434 ) (14,290 ) (1,628 ) (1,379 ) (4,883 ) (4,137 ) Recognized actuarial loss 2,606 1,442 7,818 4,324 1,861 1,617 5,582 4,850 Prior service cost amortization 25 25 76 76 (49 ) (91 ) (148 ) (273 ) Net periodic benefit cost $ 2,189 $ 1,592 $ 6,567 $ 4,775 $ 3,154 $ 3,329 $ 9,461 $ 9,986

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Lease, Cost	The following table presents the Company's lease costs included in the Unaudited Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) Income Statement Location 2020 2020 Finance lease cost Amortization of right-of-use assets Depreciation and amortization $ 1,274 $ 3,734 Interest on lease liabilities Interest expense, net of capitalized interest 248 796 Total finance lease cost 1,522 4,530 Operating lease cost Operation and maintenance, net of capitalized costs $ 1,650 $ 4,761 Short-term lease cost Operation and maintenance 95 721 Variable lease cost Operation and maintenance 597 1,707 Total lease cost $ 3,864 $ 11,719 The following table presents supplemental cash flow information related to leases: Nine Months Ended June 30, (Thousands) 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 4,133 Operating cash flows from finance leases $ 952 Financing cash flows from finance leases $ 5,505
Assets And Liabilities, Lessee	The following table presents the balance and classifications of our right of use assets and lease liabilities included in the Unaudited Condensed Consolidated Balance Sheets: (Thousands) Balance Sheet Location June 30, 2020 Assets Noncurrent Operating lease assets Operating lease assets $ 101,657 Finance lease assets Utility plant 72,357 Total lease assets $ 174,014 Liabilities Current Operating lease liabilities Operating lease liabilities $ 4,458 Finance lease liabilities Current maturities of long-term debt 10,645 Noncurrent Operating lease liabilities Operating lease liabilities 96,118 Finance lease liabilities Long-term debt 66,944 Total lease liabilities $ 178,165
Finance Lease, Liability, Maturity	The following table presents the Company's maturities of lease liabilities as of June 30, 2020 : (Thousands) Operating Leases Finance Leases Remainder of fiscal 2020 $ 2,137 $ 3,417 2021 6,481 56,271 2022 6,387 6,004 2023 6,356 4,622 2024 5,985 5,279 Thereafter 126,331 5,720 Total future minimum lease payments 153,677 81,313 Less: Interest component (53,101 ) (3,724 ) Total lease liability $ 100,576 $ 77,589
Lessee, Operating Lease, Liability, Maturity	The following table presents the Company's maturities of lease liabilities as of June 30, 2020 : (Thousands) Operating Leases Finance Leases Remainder of fiscal 2020 $ 2,137 $ 3,417 2021 6,481 56,271 2022 6,387 6,004 2023 6,356 4,622 2024 5,985 5,279 Thereafter 126,331 5,720 Total future minimum lease payments 153,677 81,313 Less: Interest component (53,101 ) (3,724 ) Total lease liability $ 100,576 $ 77,589
Schedule of Future Minimum Rental Payments for Operating Leases	The following table reflects the Company's future minimum lease payments due under non-cancelable operating leases for continuing operations as of September 30, 2019 , under ASC 840 and is being presented for comparative purposes. These commitments relate principally to commercial solar land leases, equipment and real property leases, including land and office facility leases, gas meters and office equipment. (Thousands) Operating Leases Capital Leases 2020 $ 4,411 $ 11,707 2021 $ 4,698 $ 6,603 2022 $ 4,609 $ 7,494 2023 $ 4,579 $ 3,995 2024 $ 4,199 $ 4,652 Thereafter $ 54,405 $ 4,173
Schedule of Future Minimum Lease Payments for Capital Leases	The following table reflects the Company's future minimum lease payments due under non-cancelable operating leases for continuing operations as of September 30, 2019 , under ASC 840 and is being presented for comparative purposes. These commitments relate principally to commercial solar land leases, equipment and real property leases, including land and office facility leases, gas meters and office equipment. (Thousands) Operating Leases Capital Leases 2020 $ 4,411 $ 11,707 2021 $ 4,698 $ 6,603 2022 $ 4,609 $ 7,494 2023 $ 4,579 $ 3,995 2024 $ 4,199 $ 4,652 Thereafter $ 54,405 $ 4,173

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	9 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Long-term Purchase Commitment	Commitments as of June 30, 2020 , for natural gas purchases and future demand fees for the next five fiscal year periods are as follows: (Thousands) 2020 2021 2022 2023 2024 Thereafter Energy Services: Natural gas purchases $ 161,351 $ 1,264 $ — $ — $ — $ — Storage demand fees 23,483 12,975 10,116 4,063 2,173 1,329 Pipeline demand fees 66,544 55,599 33,068 22,364 17,163 40,206 Sub-total Energy Services $ 251,378 $ 69,838 $ 43,184 $ 26,427 $ 19,336 $ 41,535 NJNG: Natural gas purchases $ 13,273 $ — $ — $ — $ — $ — Storage demand fees 36,062 34,483 23,424 13,409 9,154 4,077 Pipeline demand fees 89,627 107,510 106,414 89,217 79,899 572,433 Sub-total NJNG $ 138,962 $ 141,993 $ 129,838 $ 102,626 $ 89,053 $ 576,510 Total $ 390,340 $ 211,831 $ 173,022 $ 129,053 $ 108,389 $ 618,045

REPORTING SEGMENT AND OTHER O_2

REPORTING SEGMENT AND OTHER OPERATIONS DATA (Tables)	9 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Information related to the Company's various reporting segments and other operations is detailed below: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) 2020 2019 2020 2019 Operating revenues Natural Gas Distribution External customers $ 128,532 $ 120,782 $ 645,375 $ 622,167 Clean Energy Ventures External customers 13,396 11,450 25,603 37,707 Energy Services External customers (1) 133,740 290,083 816,003 1,416,837 Intercompany (197 ) (62 ) 1,656 8,276 Midstream External customers 11,143 — 29,949 — Intercompany 720 — 2,062 — Subtotal 287,334 422,253 1,520,648 2,084,987 Home Services and Other External customers 12,163 12,627 36,694 36,253 Intercompany 206 455 947 1,652 Eliminations (729 ) (393 ) (4,665 ) (9,928 ) Total $ 298,974 $ 434,942 $ 1,553,624 $ 2,112,964 Depreciation and amortization Natural Gas Distribution $ 18,269 $ 14,689 $ 53,186 $ 42,557 Clean Energy Ventures 10,121 8,239 29,429 24,253 Energy Services (2) 28 23 84 75 Midstream 2,513 1 6,591 4 Subtotal 30,931 22,952 89,290 66,889 Home Services and Other 265 230 761 673 Eliminations 20 (33 ) (293 ) (270 ) Total $ 31,216 $ 23,149 $ 89,758 $ 67,292 Interest income (3) Natural Gas Distribution $ 135 $ 187 $ 378 $ 567 Energy Services 10 26 99 40 Midstream 463 1,088 3,245 3,089 Subtotal 608 1,301 3,722 3,696 Home Services and Other 157 515 856 1,620 Eliminations (618 ) (1,320 ) (2,524 ) (4,202 ) Total $ 147 $ 496 $ 2,054 $ 1,114 (1) Includes sales to Canada for the Energy Services segment, which are immaterial. (2) The amortization of acquired wholesale energy contracts is excluded above and is included in gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations. (3) Included in other income, net on the Unaudited Condensed Consolidated Statements of Operations. Three Months Ended Nine Months Ended June 30, June 30, (Thousands) 2020 2019 2020 2019 Interest expense, net of capitalized interest Natural Gas Distribution $ 7,455 $ 6,301 $ 22,760 $ 18,166 Clean Energy Ventures 5,070 4,320 14,397 14,405 Energy Services 517 766 2,680 4,277 Midstream 1,843 522 10,286 1,630 Subtotal 14,885 11,909 50,123 38,478 Home Services and Other 427 407 1,264 1,410 Eliminations (168 ) (668 ) (970 ) (2,245 ) Total $ 15,144 $ 11,648 $ 50,417 $ 37,643 Income tax provision (benefit) Natural Gas Distribution $ 939 $ (1,391 ) $ 29,276 $ 16,705 Clean Energy Ventures 4,193 (1,787 ) (38,432 ) (39,033 ) Energy Services (8,909 ) (1,193 ) (606 ) 7,063 Midstream 1,646 729 3,453 2,910 Subtotal (2,131 ) (3,642 ) (6,309 ) (12,355 ) Home Services and Other (131 ) 1,705 2,044 854 Eliminations 72 (4 ) 173 (353 ) Total $ (2,190 ) $ (1,941 ) $ (4,092 ) $ (11,854 ) Equity in earnings of affiliates Midstream $ 3,615 $ 4,167 $ 11,200 $ 11,966 Eliminations (402 ) (672 ) (1,009 ) (1,939 ) Total $ 3,213 $ 3,495 $ 10,191 $ 10,027 Net financial earnings (loss) Natural Gas Distribution $ 11,968 $ (3,795 ) $ 142,160 $ 96,464 Clean Energy Ventures (13,891 ) (7,138 ) (2,817 ) 24,797 Energy Services (6,913 ) (14,030 ) (9,511 ) 13,644 Midstream 3,615 3,052 10,877 11,201 Subtotal (5,221 ) (21,911 ) 140,709 146,106 Home Services and Other (582 ) 4,437 675 2,932 Eliminations (14 ) (32 ) 140 (34 ) Total $ (5,817 ) $ (17,506 ) $ 141,524 $ 149,004 Capital expenditures Natural Gas Distribution $ 88,171 $ 100,473 $ 238,010 $ 239,569 Clean Energy Ventures 41,182 38,813 110,968 91,333 Midstream 8,575 6,406 16,284 11,290 Subtotal 137,928 145,692 365,262 342,192 Home Services and Other 1,962 924 1,977 1,826 Total $ 139,890 $ 146,616 $ 367,239 $ 344,018 Investments in equity investees Midstream $ 225 $ 1,239 $ 1,491 $ 2,696 Total $ 225 $ 1,239 $ 1,491 $ 2,696
Reconciliation of Consolidated NFE to Consolidated Net Income	A reconciliation of consolidated NFE to consolidated net income is as follows: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) 2020 2019 2020 2019 Net financial earnings (loss) $ (5,817 ) $ (17,506 ) $ 141,524 $ 149,004 Less: Unrealized loss (gain) on derivative instruments and related transactions 23,712 (24,646 ) (21,827 ) (25,353 ) Tax effect (5,639 ) 5,885 5,189 6,034 Effects of economic hedging related to natural gas inventory 4,739 11,317 10,474 12,073 Tax effect (1,126 ) (2,689 ) (2,489 ) (2,869 ) NFE tax adjustment (284 ) 1,029 (470 ) 7,700 Net (loss) income $ (27,219 ) $ (8,402 ) $ 150,647 $ 151,419
Reconciliation of Assets from Segment to Consolidated	The Company's assets for the various business segments and business operations are detailed below: (Thousands) June 30, September 30, Assets at end of period: Natural Gas Distribution $ 3,319,754 $ 3,064,309 Clean Energy Ventures 1,007,240 864,323 Energy Services 225,830 290,847 Midstream 813,932 240,955 Subtotal 5,366,756 4,460,434 Home Services and Other 133,773 104,411 Intercompany assets (1) (218,445 ) (191,860 ) Total $ 5,282,084 $ 4,372,985 (1) Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Schedule Of Demand Fees And Demand Fees Payable	Demand fees, net of eliminations, associated with Steckman Ridge were as follows: Three Months Ended Nine Months Ended June 30, June 30, (Thousands) 2020 2019 2020 2019 Natural Gas Distribution $ 1,491 $ 1,431 $ 4,462 $ 4,349 Energy Services 27 695 86 2,106 Total $ 1,518 $ 2,126 $ 4,548 $ 6,455 The following table summarizes demand fees payable to Steckman Ridge as of: (Thousands) June 30, September 30, Natural Gas Distribution $ 775 $ 775 Energy Services 16 15 Total $ 791 $ 790

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS (Tables)	9 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the consideration transferred and purchase price allocation based upon the relative fair value of the assets acquired and liabilities to be assumed: (Thousands) Estimated Fair Value Purchase price $ 166,000 Net working capital adjustment (449 ) Transaction costs 9,456 Total costs capitalized $ 175,007 Identifiable assets acquired Property, plant and equipment $ 174,438 Other 1,018 Net working capital (449 ) Net assets acquired $ 175,007 The following table summarizes the consideration transferred and purchase price allocation based upon the relative fair value of the assets acquired and liabilities to be assumed: (Thousands) Estimated Fair Value Purchase price $ 367,500 Net working capital adjustment 4,111 Transaction costs 1,664 Total costs capitalized $ 373,275 Identifiable assets acquired Property, plant and equipment $ 365,715 Base gas 3,445 Other assets, net 4 Net working capital 4,111 Net assets acquired $ 373,275

NATURE OF THE BUSINESS (Details

NATURE OF THE BUSINESS (Details) customer in Thousands	9 Months Ended
	Jun. 30, 2020subsidiarycustomer
Steckman Ridge
Nature of Business [Line Items]
Ownership percentage	50.00%
PennEast
Nature of Business [Line Items]
Ownership percentage	20.00%
Natural Gas Distribution
Nature of Business [Line Items]
Total retail customers | customer	555
NJR Retail Holdings Corporation
Nature of Business [Line Items]
Number of principal subsidiaries | subsidiary	2

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - GAS IN STORAGE (Details) $ in Thousands	Jun. 30, 2020USD ($)Bcf	Sep. 30, 2019USD ($)Bcf
Inventory [Line Items]
Gas in Storage, value | $	$ 123,962	$ 169,803
Gas in Storage, Bcf | Bcf	50.6	52.6
Energy Services
Inventory [Line Items]
Gas in Storage, value | $	$ 50,400	$ 52,390
Gas in Storage, Bcf | Bcf	33.1	25.6
Natural Gas Distribution
Inventory [Line Items]
Gas in Storage, value | $	$ 73,501	$ 117,413
Gas in Storage, Bcf | Bcf	17.5	27
Midstream
Inventory [Line Items]
Gas in Storage, value | $	$ 61	$ 0
Gas in Storage, Bcf | Bcf	0	0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 42,821	$ 2,676	$ 26,297	$ 1,458
Restricted cash in other noncurrent assets	2,424	1,387	391	252
Cash, cash equivalents and restricted cash in the statement of cash flows	$ 45,245	$ 4,063	$ 26,688	$ 1,710

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - ADDITIONAL INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Oct. 11, 2019	Oct. 01, 2019	Sep. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Loans receivable in other current assets	$ 13,000		$ 13,000				$ 12,400
Loans receivable in other noncurrent assets	36,300		36,300				38,800
Operating lease assets	101,657		101,657				0
Operating lease, liability	100,576		$ 100,576
Leaf River Energy Center LLC
Finite-Lived Intangible Assets [Line Items]
Operating lease assets					$ 21,600
Operating lease, liability					$ 21,600
Accounting Standards Update 2016-02
Finite-Lived Intangible Assets [Line Items]
Operating lease assets						$ 67,100
Operating lease, liability						$ 67,100
Minimum
Finite-Lived Intangible Assets [Line Items]
Loans receivable, term			2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Loans receivable, term			10 years
Operation and maintenance
Finite-Lived Intangible Assets [Line Items]
Capitalized Computer Software, Period Increase (Decrease)	1,900	$ 3,700	$ 4,500	$ 3,700
Other Noncurrent Assets
Finite-Lived Intangible Assets [Line Items]
Capitalized software costs	4,300		4,300				1,700
Construction in Progress
Finite-Lived Intangible Assets [Line Items]
Capitalized software costs	$ 12,200		$ 12,200				$ 4,800

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Oct. 01, 2018
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance as of beginning of period	$ 1,889,107	$ 1,569,162	$ 1,551,717	$ 1,418,978
Balance as of end of period	1,838,927	1,572,197	1,838,927	1,572,197
Investments in Equity Securities
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance as of beginning of period	0	0	0	3,446
Other comprehensive (loss) income, before reclassifications, net of tax	0		0
Amounts reclassified from accumulated other comprehensive income, net of tax	0	0	0	0
Net current-period, other comprehensive income, net of tax	0		0
Reclassification to retained earnings					$ (3,446)
Balance as of end of period	0	0	0	0
Other comprehensive income (loss) before reclassifications, tax	0		0
Tax on amounts reclassified from accumulated other comprehensive income	0	0	0	0
Other comprehensive income (loss), tax	0		0
Cash Flow Hedges
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance as of beginning of period	(9,711)	0	0	0
Other comprehensive (loss) income, before reclassifications, net of tax	(626)		(10,337)
Amounts reclassified from accumulated other comprehensive income, net of tax	0	0	0	0
Net current-period, other comprehensive income, net of tax	(626)		(10,337)
Reclassification to retained earnings
Balance as of end of period	(10,337)	0	(10,337)	0
Other comprehensive income (loss) before reclassifications, tax	180		2,961
Tax on amounts reclassified from accumulated other comprehensive income	0	0	0	0
Other comprehensive income (loss), tax	180		2,961
Postemployment Benefit Obligation
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance as of beginning of period	(24,928)	(15,517)	(31,787)	(16,056)
Other comprehensive (loss) income, before reclassifications, net of tax	0		5,378
Amounts reclassified from accumulated other comprehensive income, net of tax	663	305	2,144	844
Net current-period, other comprehensive income, net of tax	663		7,522
Reclassification to retained earnings					0
Balance as of end of period	(24,265)	(15,212)	(24,265)	(15,212)
Other comprehensive income (loss) before reclassifications, tax	0		(1,681)
Tax on amounts reclassified from accumulated other comprehensive income	(191)	(118)	(480)	(333)
Other comprehensive income (loss), tax	(191)		(2,161)
Total
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance as of beginning of period	(34,639)	(15,517)	(31,787)	(12,610)
Other comprehensive (loss) income, before reclassifications, net of tax	(626)		(4,959)
Amounts reclassified from accumulated other comprehensive income, net of tax	663	305	2,144	844
Net current-period, other comprehensive income, net of tax	37		(2,815)
Reclassification to retained earnings					$ (3,446)
Balance as of end of period	(34,602)	(15,212)	(34,602)	(15,212)
Other comprehensive income (loss) before reclassifications, tax	180		1,280
Tax on amounts reclassified from accumulated other comprehensive income	(191)	$ (118)	(480)	$ (333)
Other comprehensive income (loss), tax	$ (11)		$ 800

REVENUE - DISAGGREGATED REVENUE

REVENUE - DISAGGREGATED REVENUE - PRODUCT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 157,024	$ 136,773	$ 712,554	$ 678,077
Alternative revenue programs	(2,665)	2,025	17,465	9,059
Derivative Instruments	144,418	296,082	825,261	1,434,104
Revenues out of scope	141,950	298,169	841,070	1,434,887
Total operating revenues	298,974	434,942	1,553,624	2,112,964
Natural gas utility sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	124,888	115,525	611,650	598,676
Natural gas services
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	15,399	3,876	52,502	26,204
Service contracts
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	8,126	7,890	24,237	23,533
Installations and maintenance
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,243	5,193	13,404	14,373
Electricity sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,294	4,745	13,770	16,944
Operating Segments
Disaggregation of Revenue [Line Items]
Total operating revenues	287,334	422,253	1,520,648	2,084,987
Operating Segments | Natural Gas Distribution
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	124,888	115,525	611,650	598,676
Alternative revenue programs	(2,665)	2,025	17,465	9,059
Derivative Instruments	6,309	3,232	16,260	14,432
Revenues out of scope	3,644	5,257	33,725	23,491
Total operating revenues	128,532	120,782	645,375	622,167
Operating Segments | Natural Gas Distribution | Natural gas utility sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	124,888	115,525	611,650	598,676
Operating Segments | Natural Gas Distribution | Natural gas services
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Natural Gas Distribution | Service contracts
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Natural Gas Distribution | Installations and maintenance
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Natural Gas Distribution | Electricity sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Clean Energy Ventures
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,294	4,745	13,770	16,944
Alternative revenue programs	0	0	0	0
Derivative Instruments	8,102	6,705	11,833	20,763
Revenues out of scope	8,102	6,705	11,833	20,763
Total operating revenues	13,396	11,450	25,603	37,707
Operating Segments | Clean Energy Ventures | Natural gas utility sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Clean Energy Ventures | Natural gas services
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Clean Energy Ventures | Service contracts
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Clean Energy Ventures | Installations and maintenance
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Clean Energy Ventures | Electricity sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,294	4,745	13,770	16,944
Operating Segments | Energy Services
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,536	3,876	20,491	26,204
Alternative revenue programs	0	0	0	0
Derivative Instruments	130,007	286,145	797,168	1,398,909
Revenues out of scope	130,204	286,207	795,512	1,390,633
Total operating revenues	133,740	290,083	816,003	1,416,837
Operating Segments | Energy Services | Natural gas utility sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Energy Services | Natural gas services
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,536	3,876	20,491	26,204
Operating Segments | Energy Services | Service contracts
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Energy Services | Installations and maintenance
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Energy Services | Electricity sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Midstream
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,143	0	29,949	0
Alternative revenue programs	0	0	0	0
Derivative Instruments	0	0	0	0
Revenues out of scope	0	0	0	0
Total operating revenues	11,143	0	29,949	0
Operating Segments | Midstream | Natural gas utility sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Midstream | Natural gas services
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,863	0	32,011	0
Operating Segments | Midstream | Service contracts
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Midstream | Installations and maintenance
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Operating Segments | Midstream | Electricity sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Home Services and Other
Disaggregation of Revenue [Line Items]
Revenues out of scope	0	0	0	0
Total operating revenues	12,163	12,627	36,694	36,253
Home Services and Other | Home Services and Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,163	12,627	36,694	36,253
Alternative revenue programs	0	0	0	0
Derivative Instruments	0	0	0	0
Revenues out of scope	0	0	0	0
Total operating revenues	12,163	12,627	36,694	36,253
Home Services and Other | Home Services and Other | Natural gas utility sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Home Services and Other | Home Services and Other | Natural gas services
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Home Services and Other | Home Services and Other | Service contracts
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	8,126	7,890	24,237	23,533
Home Services and Other | Home Services and Other | Installations and maintenance
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,243	5,193	13,404	14,373
Home Services and Other | Home Services and Other | Electricity sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Eliminations
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	(926)	(456)	(3,009)	(1,653)
Revenues out of scope	197	62	(1,656)	(8,276)
Eliminations | Natural Gas Distribution
Disaggregation of Revenue [Line Items]
Revenues out of scope	0	0	0	0
Eliminations | Clean Energy Ventures
Disaggregation of Revenue [Line Items]
Revenues out of scope	0	0	0	0
Eliminations | Energy Services
Disaggregation of Revenue [Line Items]
Revenues out of scope	197	62	(1,656)	(8,276)
Eliminations | Midstream
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	(720)	0	(2,062)	0
Revenues out of scope	0	0	0	0
Eliminations | Home Services and Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	(206)	(456)	(947)	(1,653)
Revenues out of scope	$ 0	$ 0	$ 0	$ 0

REVENUE - DISAGGREGATED REVEN_2

REVENUE - DISAGGREGATED REVENUE - TYPE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 157,024	$ 136,773	$ 712,554	$ 678,077
Revenues out of scope	141,950	298,169	841,070	1,434,887
Total operating revenues	298,974	434,942	1,553,624	2,112,964
Residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	103,527	78,676	485,564	444,341
Commercial and industrial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	37,754	44,067	164,540	176,943
Firm transportation
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	14,331	12,296	58,043	52,006
Interruptible and off-tariff
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,412	1,734	4,407	4,787
Operating Segments
Disaggregation of Revenue [Line Items]
Total operating revenues	287,334	422,253	1,520,648	2,084,987
Home Services and Other
Disaggregation of Revenue [Line Items]
Revenues out of scope	0	0	0	0
Total operating revenues	12,163	12,627	36,694	36,253
Home Services and Other | Residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,845	12,388	35,955	35,522
Home Services and Other | Commercial and industrial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	318	239	739	731
Home Services and Other | Firm transportation
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Home Services and Other | Interruptible and off-tariff
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Natural Gas Distribution | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	124,888	115,525	611,650	598,676
Revenues out of scope	3,644	5,257	33,725	23,491
Total operating revenues	128,532	120,782	645,375	622,167
Natural Gas Distribution | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	89,095	63,984	442,093	402,192
Natural Gas Distribution | Operating Segments | Commercial and industrial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	20,050	37,511	107,107	139,691
Natural Gas Distribution | Operating Segments | Firm transportation
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	14,331	12,296	58,043	52,006
Natural Gas Distribution | Operating Segments | Interruptible and off-tariff
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,412	1,734	4,407	4,787
Clean Energy Ventures | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,294	4,745	13,770	16,944
Revenues out of scope	8,102	6,705	11,833	20,763
Total operating revenues	13,396	11,450	25,603	37,707
Clean Energy Ventures | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,587	2,304	7,516	6,627
Clean Energy Ventures | Operating Segments | Commercial and industrial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,707	2,441	6,254	10,317
Clean Energy Ventures | Operating Segments | Firm transportation
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Clean Energy Ventures | Operating Segments | Interruptible and off-tariff
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Energy Services | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,536	3,876	20,491	26,204
Revenues out of scope	130,204	286,207	795,512	1,390,633
Total operating revenues	133,740	290,083	816,003	1,416,837
Energy Services | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Energy Services | Operating Segments | Commercial and industrial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,536	3,876	20,491	26,204
Energy Services | Operating Segments | Firm transportation
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Energy Services | Operating Segments | Interruptible and off-tariff
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Midstream | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,143	0	29,949	0
Revenues out of scope	0	0	0	0
Total operating revenues	11,143	0	29,949	0
Midstream | Operating Segments | Residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Midstream | Operating Segments | Commercial and industrial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,143	0	29,949	0
Midstream | Operating Segments | Firm transportation
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Midstream | Operating Segments | Interruptible and off-tariff
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 0	$ 0	$ 0	$ 0

REVENUE - TIMING OF REVENUE REC

REVENUE - TIMING OF REVENUE RECOGNITION (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2020USD ($)
Timing of Revenue Recognition [Roll Forward]
Billed, beginning	$ 139,263
Unbilled, beginning	6,510
Customers' credit, beginning	27,116
Increase (decrease) for accounts receivable, billed	3,796
Increase (decrease) for unbilled revenue	2,228
Increase (decrease) for customers' credits	(7,060)
Billed, end	143,059
Unbilled, end	8,738
Customers' credit, end	$ 20,056

REVENUE - TIMING OF REVENUE R_2

REVENUE - TIMING OF REVENUE RECOGNITION - BALANCE SHEET (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Customer accounts receivable
Billed	$ 143,059	$ 139,263
Unbilled revenues	8,738	6,510
Customers' credit balances and deposits	(20,056)	$ (27,116)
Customers accounts receivables & Customers' credit balances and deposits	131,741
Operating Segments | Natural Gas Distribution
Customer accounts receivable
Billed	78,370
Unbilled revenues	8,738
Customers' credit balances and deposits	(20,056)
Customers accounts receivables & Customers' credit balances and deposits	67,052
Operating Segments | Clean Energy Ventures
Customer accounts receivable
Billed	3,469
Unbilled revenues	0
Customers' credit balances and deposits	0
Customers accounts receivables & Customers' credit balances and deposits	3,469
Operating Segments | Energy Services
Customer accounts receivable
Billed	55,364
Unbilled revenues	0
Customers' credit balances and deposits	0
Customers accounts receivables & Customers' credit balances and deposits	55,364
Operating Segments | Midstream
Customer accounts receivable
Billed	3,828
Unbilled revenues	0
Customers' credit balances and deposits	0
Customers accounts receivables & Customers' credit balances and deposits	3,828
Home Services and Other
Customer accounts receivable
Billed	2,028
Unbilled revenues	0
Customers' credit balances and deposits	0
Customers accounts receivables & Customers' credit balances and deposits	$ 2,028

REGULATION - REGULATORY ASSETS

REGULATION - REGULATORY ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-current	$ 52,251	$ 32,871
Regulatory assets-noncurrent	451,101	496,637
Regulatory liabilities-current	6,774	0
Regulatory liabilities-noncurrent	197,281	202,435
Over-recovered gas costs
Regulatory Assets And Liabilities [Line Items]
Regulatory liabilities-current	6,774	0
Tax Act impact
Regulatory Assets And Liabilities [Line Items]
Regulatory liabilities-noncurrent	196,705	200,417
New Jersey Clean Energy Program
Regulatory Assets And Liabilities [Line Items]
Regulatory liabilities-noncurrent	128	197
Other noncurrent regulatory liabilities
Regulatory Assets And Liabilities [Line Items]
Regulatory liabilities-noncurrent	448	1,821
New Jersey Clean Energy Program
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-current	17,062	15,468
Under-recovered gas costs
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-current	0	9,506
Conservation Incentive Program
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-current	20,836	3,371
Derivatives at fair value, net
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-current	9,845	4,526
Regulatory assets-noncurrent	0	486
Expended, net of recoveries
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-noncurrent	36,053	38,351
Liability for future expenditures
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-noncurrent	128,886	131,080
Deferred income taxes
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-noncurrent	22,477	19,631
SAVEGREEN
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-noncurrent	15,229	10,201
Postemployment and other benefit costs
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-noncurrent	161,847	212,461
Deferred storm damage costs
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-noncurrent	7,058	8,687
Cost of removal
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-noncurrent	62,831	65,660
Other regulatory assets (liabilities)
Regulatory Assets And Liabilities [Line Items]
Regulatory assets-current	4,508	0
Regulatory assets-noncurrent	$ 16,720	$ 10,080

REGULATION - REGULATORY FILINGS

REGULATION - REGULATORY FILINGS (Details) - USD ($) $ in Thousands	Jun. 25, 2020	May 29, 2020	Mar. 30, 2020	Mar. 16, 2020	Nov. 15, 2019	Nov. 01, 2019	Jun. 30, 2020	Jul. 24, 2020
NJNG EE Recovery Rate | NJNG
Schedule of Regulatory Filings [Line Items]
Approved rate increase (decrease), amount						$ 11,300
Base Rate Stipulation
Schedule of Regulatory Filings [Line Items]
Approved rate increase (decrease), amount					$ 62,200
Approved rate increase (decrease)					6.95%
Approved return on equity					9.60%
Approved equity capital structure, percentage					54.00%
Approved depreciation rate					2.78%
RAC | NJNG
Schedule of Regulatory Filings [Line Items]
Requested rate increase (decrease), amount				$ 1,200
NJCEP | NJNG
Schedule of Regulatory Filings [Line Items]
Requested rate increase (decrease), amount				$ (600)
NJ RISE And SAFE II Capital Investments | NJNG
Schedule of Regulatory Filings [Line Items]
Requested rate increase (decrease), amount			$ 7,400
Capital investment costs							$ 57,900
BGSS | NJNG
Schedule of Regulatory Filings [Line Items]
Requested rate increase (decrease), amount		$ (20,400)
BGSS Balancing | NJNG
Schedule of Regulatory Filings [Line Items]
Requested rate increase (decrease), amount		(3,900)
Conservation Incentive Program | NJNG
Schedule of Regulatory Filings [Line Items]
Requested rate increase (decrease), amount		22,300
BPU | NJNG
Schedule of Regulatory Filings [Line Items]
Requested rate increase (decrease), amount		$ (70)
June 2020 Annual U S F Compliance Filing | NJNG
Schedule of Regulatory Filings [Line Items]
Requested rate increase (decrease), amount	$ (400)
Subsequent Event | NJ RISE And SAFE II Capital Investments | NJNG
Schedule of Regulatory Filings [Line Items]
Approved rate increase (decrease), amount								$ 7,100
Capital investment costs								$ 55,100

DERIVATIVE INSTRUMENTS - ADDITI

DERIVATIVE INSTRUMENTS - ADDITIONAL INFORMATION (Details) certificate in Thousands, $ in Millions	Jun. 30, 2020USD ($)certificate	Jan. 31, 2018USD ($)
Derivative [Line Items]
Derivative, net liability position, aggregate fair value	$ 15.9
Additional collateral, aggregate fair value	15.9
Foreign currency contracts
Derivative [Line Items]
Notional amount	6.4
Treasury Lock
Derivative [Line Items]
Notional amount	195
Treasury Lock | NJNG
Derivative [Line Items]
Notional amount	$ 60
Physical commodity contracts | Energy Services
Derivative [Line Items]
Number of SRECs | certificate	(1,276)
Home Services and Other | Term Loan | Credit Agreement Due August 16, 2019 | Interest rate swap
Derivative [Line Items]
Debt issued		$ 100
Benchmark interest rate		2.84%

DERIVATIVE INSTRUMENTS - BALANC

DERIVATIVE INSTRUMENTS - BALANCE SHEET RELATED DISCLOSURES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Fair Value
Derivative assets, current	$ 29,367	$ 25,103
Derivative liabilities, current	47,094	57,623
Derivative assets, noncurrent	6,347	7,426
Derivative liabilities, noncurrent	23,600	18,821
Not Designated as Hedging Instrument
Fair Value
Derivative assets	35,714	32,529
Derivative liabilities	70,694	76,444
Home Services and Other | Designated as Hedging Instrument | Interest rate contracts
Fair Value
Derivative assets, current	0	0
Derivative liabilities, current	10,796	0
Natural Gas Distribution | Not Designated as Hedging Instrument | Physical commodity contracts
Fair Value
Derivative assets, current	66	67
Derivative liabilities, current	133	245
Natural Gas Distribution | Not Designated as Hedging Instrument | Financial commodity contracts
Fair Value
Derivative assets, current	0	382
Derivative liabilities, current	190	570
Natural Gas Distribution | Not Designated as Hedging Instrument | Interest rate contracts
Fair Value
Derivative assets, current	0	0
Derivative liabilities, current	5,056	0
Energy Services | Not Designated as Hedging Instrument | Physical commodity contracts
Fair Value
Derivative assets, current	5,440	6,847
Derivative liabilities, current	17,242	27,540
Derivative assets, noncurrent	2,671	1,710
Derivative liabilities, noncurrent	22,448	12,641
Energy Services | Not Designated as Hedging Instrument | Financial commodity contracts
Fair Value
Derivative assets, current	23,852	17,806
Derivative liabilities, current	13,447	29,057
Derivative assets, noncurrent	3,647	5,716
Derivative liabilities, noncurrent	1,129	6,105
Energy Services | Not Designated as Hedging Instrument | Foreign currency contracts
Fair Value
Derivative assets, current	9	1
Derivative liabilities, current	230	211
Derivative assets, noncurrent	29	0
Derivative liabilities, noncurrent	$ 23	$ 75

DERIVATIVE INSTRUMENTS - OFFSET

DERIVATIVE INSTRUMENTS - OFFSETTING OF ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Home Services and Other
Derivative liabilities:
Amounts Presented in Balance Sheets	$ 10,796
Offsetting Derivative Instruments	0
Financial Collateral Received/Pledged	0
Net Amounts	10,796
Home Services and Other | Interest rate contracts
Derivative liabilities:
Amounts Presented in Balance Sheets	10,796
Offsetting Derivative Instruments	0
Financial Collateral Received/Pledged	0
Net Amounts	10,796
Energy Services
Derivative assets:
Amounts Presented in Balance Sheets	35,648	$ 32,080
Offsetting Derivative Instruments	(17,711)	(22,553)
Financial Collateral Received/Pledged	(200)	(200)
Net Amounts	17,737	9,327
Derivative liabilities:
Amounts Presented in Balance Sheets	54,519	75,629
Offsetting Derivative Instruments	(17,711)	(22,553)
Financial Collateral Received/Pledged	0	(15,516)
Net Amounts	36,808	37,560
Energy Services | Physical commodity contracts
Derivative assets:
Amounts Presented in Balance Sheets	8,111	8,557
Offsetting Derivative Instruments	(3,097)	(2,906)
Financial Collateral Received/Pledged	(200)	(200)
Net Amounts	4,814	5,451
Derivative liabilities:
Amounts Presented in Balance Sheets	39,690	40,181
Offsetting Derivative Instruments	(3,097)	(2,906)
Financial Collateral Received/Pledged	0	0
Net Amounts	36,593	37,275
Energy Services | Financial commodity contracts
Derivative assets:
Amounts Presented in Balance Sheets	27,499	23,522
Offsetting Derivative Instruments	(14,576)	(19,646)
Financial Collateral Received/Pledged	0	0
Net Amounts	12,923	3,876
Derivative liabilities:
Amounts Presented in Balance Sheets	14,576	35,162
Offsetting Derivative Instruments	(14,576)	(19,646)
Financial Collateral Received/Pledged	0	(15,516)
Net Amounts	0	0
Energy Services | Foreign currency contracts
Derivative assets:
Amounts Presented in Balance Sheets	38	1
Offsetting Derivative Instruments	(38)	(1)
Financial Collateral Received/Pledged	0	0
Net Amounts	0	0
Derivative liabilities:
Amounts Presented in Balance Sheets	253	286
Offsetting Derivative Instruments	(38)	(1)
Financial Collateral Received/Pledged	0	0
Net Amounts	215	285
Natural Gas Distribution
Derivative assets:
Amounts Presented in Balance Sheets	66	449
Offsetting Derivative Instruments	(39)	(391)
Financial Collateral Received/Pledged	0	0
Net Amounts	27	58
Derivative liabilities:
Amounts Presented in Balance Sheets	5,379	815
Offsetting Derivative Instruments	(39)	(391)
Financial Collateral Received/Pledged	(190)	(188)
Net Amounts	5,150	236
Natural Gas Distribution | Physical commodity contracts
Derivative assets:
Amounts Presented in Balance Sheets	66	67
Offsetting Derivative Instruments	(39)	(9)
Financial Collateral Received/Pledged	0	0
Net Amounts	27	58
Derivative liabilities:
Amounts Presented in Balance Sheets	133	245
Offsetting Derivative Instruments	(39)	(9)
Financial Collateral Received/Pledged	0	0
Net Amounts	94	236
Natural Gas Distribution | Financial commodity contracts
Derivative assets:
Amounts Presented in Balance Sheets		382
Offsetting Derivative Instruments		(382)
Financial Collateral Received/Pledged		0
Net Amounts		0
Derivative liabilities:
Amounts Presented in Balance Sheets	190	570
Offsetting Derivative Instruments	0	(382)
Financial Collateral Received/Pledged	(190)	(188)
Net Amounts	0	$ 0
Natural Gas Distribution | Interest rate contracts
Derivative liabilities:
Amounts Presented in Balance Sheets	5,056
Offsetting Derivative Instruments	0
Financial Collateral Received/Pledged	0
Net Amounts	$ 5,056

DERIVATIVE INSTRUMENTS - INCOME

DERIVATIVE INSTRUMENTS - INCOME STATEMENT RELATED DISCLOSURES (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (losses) gains recognized in income on derivatives	$ (14,458)	$ 26,740	$ 73,224	$ 17,656
Home Services and Other | Interest rate contracts | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (losses) gains recognized in income on derivatives	0	(43)		(228)
Energy Services | Physical commodity contracts | Operating revenues
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (losses) gains recognized in income on derivatives	(18,061)	1,435	3,871	74
Energy Services | Physical commodity contracts | Gas purchases
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (losses) gains recognized in income on derivatives	1,014	2,392	(2,288)	266
Energy Services | Financial commodity contracts | Gas purchases
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (losses) gains recognized in income on derivatives	2,408	22,919	71,820	17,732
Energy Services | Foreign currency contracts | Gas purchases
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (losses) gains recognized in income on derivatives	181	37	(179)	(188)
Natural Gas Distribution
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (losses) gains recognized in income on derivatives	2,973	(9,556)	(15,192)	(1,904)
Natural Gas Distribution | Physical commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (losses) gains recognized in income on derivatives	308	812	1,357	5,225
Natural Gas Distribution | Financial commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (losses) gains recognized in income on derivatives	1,029	(10,368)	(11,493)	(7,129)
Natural Gas Distribution | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (losses) gains recognized in income on derivatives	$ 1,636	$ 0	$ (5,056)	$ 0

DERIVATIVE INSTRUMENTS - EFFECT

DERIVATIVE INSTRUMENTS - EFFECT OF DERIVATIVE INSTRUMENTS DESIGNATED AS CASH FLOW HEDGES ON OCI (Details) - Treasury Lock - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)	$ (807)	$ 0	$ (13,299)	$ 0
Interest expense
Derivative [Line Items]
Amount of Gain or (Loss) Reclassified from OCI into Income (Effective Portion)	$ 0	$ 0	$ 0	$ 0

DERIVATIVE INSTRUMENTS - VOLUME

DERIVATIVE INSTRUMENTS - VOLUME (Details) - Bcf	Jun. 30, 2020	Sep. 30, 2019
Natural Gas Distribution | Long | Futures
Derivative [Line Items]
Notional amount	18.8	27.6
Natural Gas Distribution | Long | Physical
Derivative [Line Items]
Notional amount	10.3	11.6
Energy Services | Long | Physical
Derivative [Line Items]
Notional amount	12.6	44.5
Energy Services | Short | Futures
Derivative [Line Items]
Notional amount	(38.4)	(29.6)
Energy Services | Short | Swaps
Derivative [Line Items]
Notional amount	2.3	5

DERIVATIVE INSTRUMENTS - BROKER

DERIVATIVE INSTRUMENTS - BROKER MARGIN DEPOSITS (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Natural Gas Distribution
Derivative [Line Items]
Broker margin - Current assets	$ 0	$ 1,982
Accounts payable and other	(219)	0
Energy Services
Derivative [Line Items]
Broker margin - Current assets	$ 52,211	$ 71,741

DERIVATIVE INSTRUMENTS - CREDIT

DERIVATIVE INSTRUMENTS - CREDIT RISK EXPOSURE (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2020USD ($)
Credit Risk Exposure [Line Items]
Gross Credit Exposure	$ 170,137
Investment grade
Credit Risk Exposure [Line Items]
Gross Credit Exposure	126,026
Noninvestment grade
Credit Risk Exposure [Line Items]
Gross Credit Exposure	8,915
Internally rated investment grade
Credit Risk Exposure [Line Items]
Gross Credit Exposure	22,877
Internally rated noninvestment grade
Credit Risk Exposure [Line Items]
Gross Credit Exposure	$ 12,319

FAIR VALUE - DEBT (Details)

FAIR VALUE - DEBT (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finance lease	$ 77,589
Finance lease		$ 35,400
NJNG
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt issuance costs	9,200	9,000
NJR
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt issuance costs	1,500	2,000
Solar Asset Financing
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	130,800	91,400
Fair market value | Solar Asset Financing | Clean Energy Ventures
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	148,300	98,600
Level 2 | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	1,492,845	1,442,845
Level 2 | Fair market value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 1,719,734	$ 1,568,864

FAIR VALUE - HIERARCHY (Details

FAIR VALUE - HIERARCHY (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	$ 1,814	$ 1,706
Total assets at fair value	73,700	34,235
Total liabilities at fair value	70,694	76,444
Physical commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	8,177	8,624
Liabilities	39,823	40,426
Financial commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	27,499	23,904
Liabilities	14,766	35,732
Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	38	1
Liabilities	253	286
Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	15,852
Quoted Prices in Active Markets for Identical Assets, (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	1,814	1,706
Total assets at fair value	63,335	21,734
Total liabilities at fair value	14,766	35,732
Quoted Prices in Active Markets for Identical Assets, (Level 1) | Physical commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Quoted Prices in Active Markets for Identical Assets, (Level 1) | Financial commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	25,349	20,028
Liabilities	14,766	35,732
Quoted Prices in Active Markets for Identical Assets, (Level 1) | Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Quoted Prices in Active Markets for Identical Assets, (Level 1) | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	0	0
Total assets at fair value	10,365	12,501
Total liabilities at fair value	55,928	40,712
Significant Other Observable Inputs (Level 2) | Physical commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	8,177	8,624
Liabilities	39,823	40,426
Significant Other Observable Inputs (Level 2) | Financial commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	2,150	3,876
Liabilities	0	0
Significant Other Observable Inputs (Level 2) | Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	38	1
Liabilities	253	286
Significant Other Observable Inputs (Level 2) | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	15,852
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other	0	0
Total assets at fair value	0	0
Total liabilities at fair value	0	0
Significant Unobservable Inputs (Level 3) | Physical commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Significant Unobservable Inputs (Level 3) | Financial commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Significant Unobservable Inputs (Level 3) | Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	$ 0
Significant Unobservable Inputs (Level 3) | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	36,172
Money market funds | Quoted Prices in Active Markets for Identical Assets, (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	36,172
Money market funds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0
Money market funds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 0

INVESTMENTS IN EQUITY INVESTE_3

INVESTMENTS IN EQUITY INVESTEES (Details) $ in Thousands	Jan. 30, 2020phasemi	Jun. 30, 2020USD ($)mi	Sep. 30, 2019USD ($)
Schedule of Equity Method Investments [Line Items]
Investments in equity investees		$ 205,800	$ 200,268
Deferred tax gross up		$ 4,600	4,100
PennEast | NJR Pipeline
Schedule of Equity Method Investments [Line Items]
Ownership percentage		20.00%
Steckman Ridge
Schedule of Equity Method Investments [Line Items]
Investments in equity investees		$ 112,909	114,428
Total outstanding principal balance of loans		$ 70,400	70,400
Ownership percentage		50.00%
PennEast
Schedule of Equity Method Investments [Line Items]
Investments in equity investees		$ 92,891	$ 85,840
Ownership percentage		20.00%
Construction plan, project area (in miles) | mi	68	120
Number of phases | phase	2

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income, as reported	$ (27,219)	$ 88,505	$ 89,361	$ (8,402)	$ 73,573	$ 86,248	$ 150,647	$ 151,419
Basic earnings per share
Weighted average shares of common stock outstanding-basic (in shares)	95,764,000			89,600,000			94,420,000	88,995,000
Basic (loss) earnings per common share (usd per share)	$ (0.28)			$ (0.09)			$ 1.60	$ 1.70
Diluted earnings per share
Weighted average shares of common stock outstanding-basic (in shares)	95,764,000			89,600,000			94,420,000	88,995,000
Other (in shares)	0			0			298,000	407,000
Weighted average shares of common stock outstanding-diluted (in shares)	95,764,000			89,600,000			94,718,000	89,402,000
Diluted (loss) earnings per common share (usd per share)	$ (0.28)			$ (0.09)			$ 1.59	$ 1.69
Anti-dilutive shares excluded from the calculation of diluted earnings per share (in shares)	310,000			409,000				0
Share-based Payment Arrangement
Diluted earnings per share
Anti-dilutive shares excluded from the calculation of diluted earnings per share (in shares)	251,780						95,817

DEBT - CREDIT FACILITIES NARRAT

DEBT - CREDIT FACILITIES NARRATIVE (Details) - USD ($)	Apr. 24, 2020	Oct. 09, 2019	Jun. 30, 2020	Dec. 13, 2019	Sep. 30, 2019
Bridge Loan
Line of Credit Facility [Line Items]
Face amount		$ 350,000,000
Debt, current			$ 137,100,000
Bridge Loan | Debt Instrument, Interest Rate, First 180 Days
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.875%
Bridge Loan | Debt Instrument, Interest Rate, After 180 Days
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.075%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, term	364 days
Bank revolving credit facilities	$ 250,000,000
Term of credit facility before conversion	6 months
Revolving Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.625%
NJR | Credit Facilities Due April 2021 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Bank revolving credit facilities			$ 250,000,000	$ 150,000,000	$ 0

DEBT - CREDIT FACILITIES (Detai

DEBT - CREDIT FACILITIES (Details) - USD ($)	Jun. 30, 2020	Apr. 24, 2020	Dec. 13, 2019	Sep. 30, 2019
NJR | Letter of Credit on Behalf of NJRES
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount	$ 8,500,000			$ 4,800,000
NJNG | Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount	731,000			731,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Bank revolving credit facilities		$ 250,000,000
Revolving Credit Facility | Committed Credit Facilities Due December 2023 | NJR
Line of Credit Facility [Line Items]
Bank revolving credit facilities	425,000,000			425,000,000
Amount outstanding at end of period	$ 416,300,000			$ 25,450,000
Weighted average interest rate at end of period	1.06%			3.04%
Amount available at end of period	$ 244,000			$ 394,800,000
Revolving Credit Facility | Committed Credit Facilities Due December 2023 | NJNG
Line of Credit Facility [Line Items]
Bank revolving credit facilities	250,000,000			250,000,000
Amount outstanding at end of period	$ 0			$ 0
Weighted average interest rate at end of period	0.25%			0.00%
Amount available at end of period	$ 249,269,000			$ 249,269,000
Revolving Credit Facility | Credit Facilities Due April 2021 | NJR
Line of Credit Facility [Line Items]
Bank revolving credit facilities	250,000,000		$ 150,000,000	0
Amount outstanding at end of period	$ 0			$ 0
Weighted average interest rate at end of period	0.00%			0.00%
Amount available at end of period	$ 250,000,000			$ 0

DEBT - LONG TERM DEBT (Details)

DEBT - LONG TERM DEBT (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2020	Jun. 30, 2019	Jul. 23, 2020	May 14, 2020	Apr. 29, 2020
Debt Instrument [Line Items]
Proceeds from sale-leaseback transaction					$ 9,895,000
Proceeds from sale-leaseback transaction - solar	$ 42,900,000			$ 42,927,000	0
Clean Energy Ventures | Minimum
Debt Instrument [Line Items]
Sale leaseback transaction lease term				5 years
Clean Energy Ventures | Maximum
Debt Instrument [Line Items]
Sale leaseback transaction lease term				15 years
NJNG
Debt Instrument [Line Items]
Proceeds from sale-leaseback transaction		$ 4,000,000	$ 9,900,000
Final principal payments for early purchase options				$ 1,200,000	$ 1,100,000
NJNG | Senior Notes
Debt Instrument [Line Items]
Long-term debt issued							$ 125,000,000
NJNG | Fixed Interest Rate Maturing 2050 | Senior Notes
Debt Instrument [Line Items]
Long-term debt issued	$ 50,000,000			$ 50,000,000			$ 100,000,000
Debt instrument interest rate	3.13%			3.13%			3.13%
NJNG | Fixed Interest Rate Maturing 2060 | Senior Notes
Debt Instrument [Line Items]
Long-term debt issued							$ 25,000,000
Debt instrument interest rate							3.33%
NJR | Treasury Lock
Debt Instrument [Line Items]
Accumulated other comprehensive loss, net of tax								$ 2,500,000
NJR | Senior Notes
Debt Instrument [Line Items]
Long-term debt issued							$ 260,000,000
NJR | Fixed Interest Rate Maturing 2030 | Senior Notes
Debt Instrument [Line Items]
Long-term debt issued							$ 130,000,000
Debt instrument interest rate							3.50%
NJR | Fixed Interest Rate Maturing 2032 | Senior Notes
Debt Instrument [Line Items]
Long-term debt issued							$ 130,000,000
Debt instrument interest rate							3.60%
Subsequent Event | NJNG | Fixed Interest Rate Maturing 2050 | Senior Notes
Debt Instrument [Line Items]
Long-term debt issued						$ 50,000,000
Debt instrument interest rate						3.13%
Subsequent Event | NJNG | Fixed Interest Rate Maturing 2060 | Senior Notes
Debt Instrument [Line Items]
Long-term debt issued						$ 25,000,000
Debt instrument interest rate						3.33%

EMPLOYEE BENEFIT PLANS - COMPON

EMPLOYEE BENEFIT PLANS - COMPONENTS OF NET PERIODIC COST (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 2,056	$ 1,845	$ 6,167	$ 5,536
Interest cost	2,647	3,043	7,940	9,129
Expected return on plan assets	(5,145)	(4,763)	(15,434)	(14,290)
Recognized actuarial loss	2,606	1,442	7,818	4,324
Prior service cost amortization	25	25	76	76
Net periodic benefit cost	2,189	1,592	6,567	4,775
OPEB
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	1,213	1,101	3,640	3,303
Interest cost	1,757	2,081	5,270	6,243
Expected return on plan assets	(1,628)	(1,379)	(4,883)	(4,137)
Recognized actuarial loss	1,861	1,617	5,582	4,850
Prior service cost amortization	(49)	(91)	(148)	(273)
Net periodic benefit cost	$ 3,154	$ 3,329	$ 9,461	$ 9,986

EMPLOYEE BENEFIT PLANS - ADDITI

EMPLOYEE BENEFIT PLANS - ADDITIONAL INFORMATION (Details) - USD ($)	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Pension
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 0	$ 0
OPEB | Minimum
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions	5,000,000
OPEB | Maximum
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions	$ 10,000,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2024	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	May 31, 2019
Operating Loss Carryforwards [Line Items]
Investment tax credit, solar property						30.00%		30.00%
Income tax benefit, solar investment tax credit, net of deferred taxes								$ 10,000,000
Unrecognized tax benefits	$ 4,900,000	$ 0
Forecasted effective tax rate	(1.20%)	(4.60%)
Tax credit carryforwards expected, net	$ 37,500,000						$ 46,300,000
Revaluation of deferred tax assets and liabilities	$ 2,300,000	$ 5,400,000
Actual effective tax rate	(2.80%)	(8.50%)
Deferred employer portion of OASDI	$ 1,300,000
ITC carryforward	$ 184,700,000						154,200,000
Effective term	20 years
Deferred tax assets, operating loss carryforwards, domestic	$ 24,100,000
Deferred tax assets, operating loss carryforwards, domestic, refundable and receivables	22,800,000						22,800,000
Scenario, Forecast
Operating Loss Carryforwards [Line Items]
Investment tax credit, solar property			10.00%	22.00%	26.00%
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	134,000,000						134,000,000
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 489,700,000						340,200,000
State | Minimum
Operating Loss Carryforwards [Line Items]
Effective term	7 years
State | Maximum
Operating Loss Carryforwards [Line Items]
Effective term	20 years
New Jersey, Montana, Iowa, and Kansas
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 1,800,000						$ 4,000,000
New Jersey
Operating Loss Carryforwards [Line Items]
Valuation allowance	13,600,000
Recognition of additional income tax benefit	$ 15,300,000

LEASES - ADDITIONAL INFORMATION

LEASES - ADDITIONAL INFORMATION (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2020USD ($)leaseextension	Jun. 30, 2020USD ($)leaseextension
Lessee, Lease, Description [Line Items]
ROU asset obtained in exchange for operating lease liability	$ 270	$ 34,200
ROU asset obtained in exchange for finance lease liability	$ 0	$ 49,700
Weighted average remaining lease term, operating lease	27 years 3 months 18 days	27 years 3 months 18 days
Weighted average remaining lease term, finance lease	2 years 4 months 13 days	2 years 4 months 13 days
Operating lease, discount rate	3.18%	3.18%
Finance lease, discount rate	2.54%	2.54%
Number of leases not yet commenced | lease	3	3
Lease not yet commenced, estimated payments	$ 6,100	$ 6,100
Number of options to extend | extension	2	2
Renewal term	5 years	5 years
Solar Property | Minimum
Lessee, Lease, Description [Line Items]
Term of contract	15 years	15 years
Renewal term	5 years	5 years
Solar Property | Maximum
Lessee, Lease, Description [Line Items]
Term of contract	25 years	25 years
Renewal term	10 years	10 years
Office Building | Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year	1 year
Office Building | Maximum
Lessee, Lease, Description [Line Items]
Term of contract	25 years	25 years
Meter License
Lessee, Lease, Description [Line Items]
Term of contract	7 years	7 years
Equipment
Lessee, Lease, Description [Line Items]
Term of contract	5 years	5 years
Storage and Capacity
Lessee, Lease, Description [Line Items]
Term of contract	50 years	50 years

LEASES - LEASE COST (Details)

LEASES - LEASE COST (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Leases [Abstract]
Amortization of right-of-use assets	$ 1,274	$ 3,734
Interest on lease liabilities	248	796
Total finance lease cost	1,522	4,530
Operating lease cost	1,650	4,761
Short-term lease cost	95	721
Variable lease cost	597	1,707
Total lease cost	$ 3,864	$ 11,719

LEASES - SUPPLEMENTAL CASH FLOW

LEASES - SUPPLEMENTAL CASH FLOW INFORMATION (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2020USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 4,133
Operating cash flows from finance leases	952
Financing cash flows from finance leases	$ 5,505

LEASES - RIGHT-OF-USE ASSETS AN

LEASES - RIGHT-OF-USE ASSETS AND LEASE LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
NONCURRENT ASSETS
Operating lease assets	$ 101,657	$ 0
Finance lease assets	72,357
Total lease assets	174,014
Current
Operating lease liabilities	4,458	0
Finance lease liabilities	10,645
Noncurrent
Operating lease liabilities	96,118	$ 0
Finance lease liabilities	66,944
Total lease liabilities	$ 178,165

LEASES - MATURITIES OF LEASE LI

LEASES - MATURITIES OF LEASE LIABILITIES (Details) $ in Thousands	Jun. 30, 2020USD ($)
Operating Leases
Remainder of fiscal 2020	$ 2,137
2021	6,481
2022	6,387
2023	6,356
2024	5,985
Thereafter	126,331
Total future minimum lease payments	153,677
Less: Interest component	(53,101)
Total lease liability	100,576
Finance Leases
Remainder of fiscal 2020	3,417
2021	56,271
2022	6,004
2023	4,622
2024	5,279
Thereafter	5,720
Total future minimum lease payments	81,313
Less: Interest component	(3,724)
Total lease liability	$ 77,589

LEASES - MATURITIES OF LEASE _2

LEASES - MATURITIES OF LEASE LIABILITIES UNDER TOPIC 840 (Details) $ in Thousands	Sep. 30, 2019USD ($)
Operating Leases
2020	$ 4,411
2021	4,698
2022	4,609
2023	4,579
2024	4,199
Thereafter	54,405
Capital Leases
2020	11,707
2021	6,603
2022	7,494
2023	3,995
2024	4,652
Thereafter	$ 4,173

COMMITMENTS AND CONTINGENT LI_3

COMMITMENTS AND CONTINGENT LIABILITIES - SCHEDULE OF FUTURE COMMITTED EXPENSES (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2020USD ($)
Long-term Purchase Commitment [Line Items]
Current charges recoverable through BGSS	$ 125,700
Natural Gas Purchases and Future Demand Fees, Next Five Fiscal Years
2020	390,340
2021	211,831
2022	173,022
2023	129,053
2024	108,389
Thereafter	618,045
Energy Services
Natural Gas Purchases and Future Demand Fees, Next Five Fiscal Years
2020	251,378
2021	69,838
2022	43,184
2023	26,427
2024	19,336
Thereafter	41,535
Energy Services | Natural gas purchases
Natural Gas Purchases and Future Demand Fees, Next Five Fiscal Years
2020	161,351
2021	1,264
2022	0
2023	0
2024	0
Thereafter	0
Energy Services | Storage demand fees
Natural Gas Purchases and Future Demand Fees, Next Five Fiscal Years
2020	23,483
2021	12,975
2022	10,116
2023	4,063
2024	2,173
Thereafter	1,329
Energy Services | Pipeline demand fees
Natural Gas Purchases and Future Demand Fees, Next Five Fiscal Years
2020	66,544
2021	55,599
2022	33,068
2023	22,364
2024	17,163
Thereafter	40,206
Natural Gas Distribution
Natural Gas Purchases and Future Demand Fees, Next Five Fiscal Years
2020	138,962
2021	141,993
2022	129,838
2023	102,626
2024	89,053
Thereafter	576,510
Natural Gas Distribution | Natural gas purchases
Natural Gas Purchases and Future Demand Fees, Next Five Fiscal Years
2020	13,273
2021	0
2022	0
2023	0
2024	0
Thereafter	0
Natural Gas Distribution | Storage demand fees
Natural Gas Purchases and Future Demand Fees, Next Five Fiscal Years
2020	36,062
2021	34,483
2022	23,424
2023	13,409
2024	9,154
Thereafter	4,077
Natural Gas Distribution | Pipeline demand fees
Natural Gas Purchases and Future Demand Fees, Next Five Fiscal Years
2020	89,627
2021	107,510
2022	106,414
2023	89,217
2024	79,899
Thereafter	$ 572,433
Minimum | Energy Services
Long-term Purchase Commitment [Line Items]
Storage and pipeline capacity, contract term	1 year
Maximum | Energy Services
Long-term Purchase Commitment [Line Items]
Storage and pipeline capacity, contract term	10 years

COMMITMENTS AND CONTINGENT LI_4

COMMITMENTS AND CONTINGENT LIABILITIES - LEGAL PROCEEDINGS (Details) - USD ($) $ in Thousands	Mar. 16, 2020	Mar. 15, 2020	Jun. 30, 2020	Sep. 30, 2019
Site Contingency [Line Items]
Manufactured gas plant remediation			$ 128,886	$ 131,080
Recovery from third party of environmental remediation cost, period			7 years
Regulatory assets			$ 451,115	$ 496,637
Expended, net of recoveries
Site Contingency [Line Items]
Regulatory assets			36,100
RAC
Site Contingency [Line Items]
Approved rate, amount	$ 9,700	$ 8,500
Minimum
Site Contingency [Line Items]
Product liability contingency, loss exposure in excess of accrual, best estimate			115,900
Maximum
Site Contingency [Line Items]
Product liability contingency, loss exposure in excess of accrual, best estimate			$ 186,200

COMMON STOCK EQUITY - NARRATIVE

COMMON STOCK EQUITY - NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 04, 2019	Jun. 30, 2020	Jun. 30, 2019
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)	6,545,454
Proceeds from issuance of common stock - public equity offering	$ 212,900	$ 212,900	$ 0
Directly Issued Common Stock
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)	5,333,334
Forward Sales Agreements
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)	1,212,120
Conversion price per share (usd per share)	$ 40.0125
Forward sales agreement, settlement, amount		$ 7,000
Forward sales agreement, settlement (in shares)		227,461

REPORTING SEGMENT AND OTHER O_3

REPORTING SEGMENT AND OTHER OPERATIONS DATA - RECONCILIATION OF SEGMENT INCOME TO CONSOLIDATED (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Utility	$ 128,532	$ 120,782	$ 645,375	$ 622,167
Nonutility	170,442	314,160	908,249	1,490,797
Total operating revenues	298,974	434,942	1,553,624	2,112,964
Depreciation and amortization	31,216	23,149	89,758	67,292
Interest income	147	496	2,054	1,114
Interest expense, net of capitalized interest	15,144	11,648	50,417	37,643
Income tax provision (benefit)	(2,190)	(1,941)	(4,092)	(11,854)
Equity in earnings of affiliates	3,213	3,495	10,191	10,027
Net financial earnings (loss)	(5,817)	(17,506)	141,524	149,004
Capital expenditures	139,890	146,616	367,239	344,018
Investments in equity investees	225	1,239	1,491	2,696
Operating Segments
Segment Reporting Information [Line Items]
Total operating revenues	287,334	422,253	1,520,648	2,084,987
Depreciation and amortization	30,931	22,952	89,290	66,889
Interest income	608	1,301	3,722	3,696
Interest expense, net of capitalized interest	14,885	11,909	50,123	38,478
Income tax provision (benefit)	(2,131)	(3,642)	(6,309)	(12,355)
Net financial earnings (loss)	(5,221)	(21,911)	140,709	146,106
Capital expenditures	137,928	145,692	365,262	342,192
Operating Segments | Natural Gas Distribution
Segment Reporting Information [Line Items]
Utility	128,532	120,782	645,375	622,167
Total operating revenues	128,532	120,782	645,375	622,167
Depreciation and amortization	18,269	14,689	53,186	42,557
Interest income	135	187	378	567
Interest expense, net of capitalized interest	7,455	6,301	22,760	18,166
Income tax provision (benefit)	939	(1,391)	29,276	16,705
Net financial earnings (loss)	11,968	(3,795)	142,160	96,464
Capital expenditures	88,171	100,473	238,010	239,569
Operating Segments | Clean Energy Ventures
Segment Reporting Information [Line Items]
Nonutility	13,396	11,450	25,603	37,707
Total operating revenues	13,396	11,450	25,603	37,707
Depreciation and amortization	10,121	8,239	29,429	24,253
Interest expense, net of capitalized interest	5,070	4,320	14,397	14,405
Income tax provision (benefit)	4,193	(1,787)	(38,432)	(39,033)
Net financial earnings (loss)	(13,891)	(7,138)	(2,817)	24,797
Capital expenditures	41,182	38,813	110,968	91,333
Operating Segments | Energy Services
Segment Reporting Information [Line Items]
Nonutility	133,740	290,083	816,003	1,416,837
Total operating revenues	133,740	290,083	816,003	1,416,837
Depreciation and amortization	28	23	84	75
Interest income	10	26	99	40
Interest expense, net of capitalized interest	517	766	2,680	4,277
Income tax provision (benefit)	(8,909)	(1,193)	(606)	7,063
Net financial earnings (loss)	(6,913)	(14,030)	(9,511)	13,644
Operating Segments | Midstream
Segment Reporting Information [Line Items]
Nonutility	11,143	0	29,949	0
Total operating revenues	11,143	0	29,949	0
Depreciation and amortization	2,513	1	6,591	4
Interest income	463	1,088	3,245	3,089
Interest expense, net of capitalized interest	1,843	522	10,286	1,630
Income tax provision (benefit)	1,646	729	3,453	2,910
Equity in earnings of affiliates	3,615	4,167	11,200	11,966
Net financial earnings (loss)	3,615	3,052	10,877	11,201
Capital expenditures	8,575	6,406	16,284	11,290
Investments in equity investees	225	1,239	1,491	2,696
Intercompany
Segment Reporting Information [Line Items]
Nonutility	206	455	947	1,652
Intercompany | Energy Services
Segment Reporting Information [Line Items]
Nonutility	(197)	(62)	1,656	8,276
Intercompany | Midstream
Segment Reporting Information [Line Items]
Nonutility	720	0	2,062	0
Home Services and Other
Segment Reporting Information [Line Items]
Nonutility	12,163	12,627	36,694	36,253
Total operating revenues	12,163	12,627	36,694	36,253
Depreciation and amortization	265	230	761	673
Interest income	157	515	856	1,620
Interest expense, net of capitalized interest	427	407	1,264	1,410
Income tax provision (benefit)	(131)	1,705	2,044	854
Net financial earnings (loss)	(582)	4,437	675	2,932
Capital expenditures	1,962	924	1,977	1,826
Eliminations
Segment Reporting Information [Line Items]
Nonutility	(729)	(393)	(4,665)	(9,928)
Depreciation and amortization	20	(33)	(293)	(270)
Interest income	(618)	(1,320)	(2,524)	(4,202)
Interest expense, net of capitalized interest	(168)	(668)	(970)	(2,245)
Income tax provision (benefit)	72	(4)	173	(353)
Equity in earnings of affiliates	(402)	(672)	(1,009)	(1,939)
Net financial earnings (loss)	$ (14)	$ (32)	$ 140	$ (34)

REPORTING SEGMENT AND OTHER O_4

REPORTING SEGMENT AND OTHER OPERATIONS DATA - NET FINANCIAL EARNINGS (LOSS) RECONCILIATION (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting [Abstract]
Net financial earnings (loss)	$ (5,817)			$ (17,506)			$ 141,524	$ 149,004
Less:
Unrealized loss (gain) on derivative instruments and related transactions	23,712			(24,646)			(21,827)	(25,353)
Tax effect	(5,639)			5,885			5,189	6,034
Effects of economic hedging related to natural gas inventory	4,739			11,317			10,474	12,073
Tax effect	(1,126)			(2,689)			(2,489)	(2,869)
NFE tax adjustment	(284)			1,029			(470)	7,700
NET (LOSS) INCOME	$ (27,219)	$ 88,505	$ 89,361	$ (8,402)	$ 73,573	$ 86,248	$ 150,647	$ 151,419

REPORTING SEGMENT AND OTHER O_5

REPORTING SEGMENT AND OTHER OPERATIONS DATA - RECONCILIATION OF SEGMENT ASSETS TO CONSOLIDATED (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 5,282,084	$ 4,372,985
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	5,366,756	4,460,434
Operating Segments | Natural Gas Distribution
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	3,319,754	3,064,309
Operating Segments | Clean Energy Ventures
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,007,240	864,323
Operating Segments | Energy Services
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	225,830	290,847
Operating Segments | Midstream
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	813,932	240,955
Home Services and Other
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	133,773	104,411
Intercompany Assets
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ (218,445)	$ (191,860)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)DTHcontractBcf	Jun. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Related Party Transaction [Line Items]
Demand fees expense recognized pertaining to related party agreement	$ 1,518	$ 2,126	$ 4,548	$ 6,455
Demand fees payable	791		$ 791		$ 790
Number of asset management agreements | contract			4
NJNG to Steckman RIdge Affiliate
Related Party Transaction [Line Items]
Natural gas sold at cost under asset management agreement (in Bcf) | Bcf			3
Approximate annual demand fees under agreement			$ 9,300
Demand fees expense recognized pertaining to related party agreement	1,491	1,431	4,462	4,349
Demand fees payable	775		775		775
NJRES to Steckman Ridge Affiliate
Related Party Transaction [Line Items]
Demand fees expense recognized pertaining to related party agreement	27	$ 695	86	$ 2,106
Demand fees payable	$ 16		$ 16		$ 15
NJNG to PennEast Affiliate
Related Party Transaction [Line Items]
Natural gas transportation capacity agreement, period			15 years
Transportation capacity under precedent agreement with PennEast (in bcf per day) | DTH			180,000
NJRES to PennEast Affiliate
Related Party Transaction [Line Items]
Natural gas transportation capacity agreement, period			5 years
Transportation capacity under precedent agreement with PennEast (in bcf per day) | DTH			50,000
NJN G to Adelphia Affiliate
Related Party Transaction [Line Items]
Transportation capacity under precedent agreement with PennEast (in bcf per day) | DTH			130,000
Leaf River Energy Center LLC
Related Party Transaction [Line Items]
Natural gas sold at cost under asset management agreement (in Bcf) | Bcf			3
Storage capacity agreement term			5 years

ACQUISITIONS AND DISPOSITIONS -

ACQUISITIONS AND DISPOSITIONS - Additional Information (Details) $ in Thousands, DTH in Millions	Jan. 13, 2020USD ($)mi	Dec. 19, 2019	Oct. 11, 2019USD ($)DTH	Nov. 30, 2017USD ($)	Oct. 31, 2017USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Business Acquisition [Line Items]
Payments for asset acquisitions						$ 523,647	$ 0
Talen's Membership Interests In IEC | Talen Generation, LLC
Business Acquisition [Line Items]
Pipeline length owned | mi	84
Consideration to be transferred					$ 166,000
Cash paid related to acquisition	$ 156,000			$ 10,000
Contingent consideration arrangements, range of outcomes, value, high					$ 23,000
Natural gas transportation capacity agreement, period		10 years
Leaf River Energy Center LLC | NJR Pipeline
Business Acquisition [Line Items]
Percentage of voting interests acquired			100.00%
Payments for asset acquisitions			$ 367,500
Natural gas capacity of acquiree | DTH			32.2
Minimum | Talen's Membership Interests In IEC | Talen Generation, LLC
Business Acquisition [Line Items]
PP&E useful life						5 years
Minimum | Leaf River Energy Center LLC | NJR Pipeline
Business Acquisition [Line Items]
PP&E useful life						5 years
Maximum | Talen's Membership Interests In IEC | Talen Generation, LLC
Business Acquisition [Line Items]
PP&E useful life						30 years
Maximum | Leaf River Energy Center LLC | NJR Pipeline
Business Acquisition [Line Items]
PP&E useful life						50 years

ACQUISITIONS AND DISPOSITIONS_2

ACQUISITIONS AND DISPOSITIONS - Net Assets Acquired (Details) - USD ($) $ in Thousands	Jan. 13, 2020	Oct. 11, 2019	Jun. 30, 2020	Jun. 30, 2019
Business Acquisition [Line Items]
Purchase price			$ 523,647	$ 0
NJR Pipeline | Leaf River Energy Center LLC
Business Acquisition [Line Items]
Purchase price		$ 367,500
Net working capital adjustment		4,111
Transaction costs		1,664
Total costs capitalized		373,275
Identifiable assets acquired
Property, plant and equipment		365,715
Base gas		3,445
Other assets, net		4
Net working capital		4,111
Net assets acquired		$ 373,275
Talen Generation, LLC | Adelphia | Talen's Membership Interests In IEC
Business Acquisition [Line Items]
Purchase price	$ 166,000
Net working capital adjustment	(449)
Transaction costs	9,456
Total costs capitalized	175,007
Identifiable assets acquired
Property, plant and equipment	174,438
Other assets, net	1,018
Net working capital	(449)
Net assets acquired	$ 175,007

Uncategorized Items - njr10qjun

Label	Element	Value
Accounting Standards Update 2017-05 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 4,970,000
Accounting Standards Update 2017-05 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	4,970,000
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	3,446,000
Accounting Standards Update 2016-01 [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(3,446,000)
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(2,736,000)
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (2,736,000)