secwatch.observer — SEC 8-K summary
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Issuer:     NEW JERSEY RESOURCES CORP (NJR)
CIK:        0000356309
Form:       8-K
Filed at:   2024-11-21T23:59:59+00:00
Accession:  0001140361-24-047450
Event type: regulatory
Sentiment:  positive
Materiality: 0.85
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/356309/000114036124047450/0001140361-24-047450-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/356309/000114036124047450/ef20038829_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-047450

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer