---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-047450"
form_type: "8-K"
ticker: "NJR"
cik: "0000356309"
company_name: "NEW JERSEY RESOURCES CORP"
filed_at: "2024-11-21T23:59:59+00:00"
generated_at: "2026-05-29T21:23:24.342002+00:00"
event_type: "regulatory"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# NJNG receives BPU approval for $157M base rate increase; rate base rises 29% to $3.245B

## Summary
- NJNG's $157M base rate increase approved by NJ BPU; effective Nov 21, 2024.
- Rate base increased 29% to $3.245B from $2.523B; ROE maintained at 9.60%.
- Revenue requirement of $157M vs. original request of $222.6M; settlement reflects $62.9M reduction.
- Investments of ~$850M since 2021 included in rate base for infrastructure and system enhancements.
- Composite depreciation rate raised to 3.21% from 2.78% in prior case.

## SEC filing metadata
- accession: 0001140361-24-047450
- form_type: 8-K
- ticker: NJR
- cik: 0000356309
- company_name: NEW JERSEY RESOURCES CORP
- filed_at: 2024-11-21T23:59:59+00:00
- event_type: regulatory
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/356309/000114036124047450/0001140361-24-047450-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/356309/000114036124047450/ef20038829_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-047450
- JSON: https://secwatch.observer/filing/0001140361-24-047450.json
- Plain text: https://secwatch.observer/filing/0001140361-24-047450.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.