Description

New Jersey Resources’ 70% Leaf River Expansion: FERC Catalyst Ahead?

New Jersey Resources reported strong financial results for its fiscal 2026 second quarter, driven primarily by robust performance during an especially severe winter period in the Northeast. The company highlighted record natural gas send-out days for its New Jersey Natural Gas utility segment, which benefited from extensive hedging strategies securing approximately 87% of winter gas supply at an average price significantly below market rates. This not only contributed to system reliability but also generated over $93 million in gross customer savings from the state-approved basic gas supply service incentive program during the winter season, amounting to over $1.6 billion since the program’s inception. The utility experienced steady customer growth supported by infrastructure investments and service territory expansions, such as the recent inclusion of Chester Township in Morris County.