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New Jersey Resources Corporation (NJR): Modelo de Negócios Canvas [Jan-2025 Atualizado] |
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New Jersey Resources Corporation (NJR) Bundle
No cenário dinâmico da inovação energética, a New Jersey Resources Corporation (NJR) surge como uma potência, navegando estrategicamente na interseção complexa da distribuição tradicional de gás natural e soluções de energia renovável de ponta. Com um modelo de negócios multifacetado que equilibra a confiabilidade, a sustentabilidade e o avanço tecnológico, a NJR está na vanguarda de transformar como comunidades e empresas consomem e interagem com os recursos energéticos. Sua abordagem abrangente não apenas atende às necessidades imediatas de energia, mas também pioneira uma visão de visão de futuro que promete remodelar o futuro do setor de energia.
New Jersey Resources Corporation (NJR) - Modelo de negócios: Parcerias -chave
Produtores e distribuidores de gás natural
A NJR faz parceria com vários produtores e distribuidores de gás natural para garantir operações estáveis da cadeia de suprimentos.
| Parceiro | Detalhes da parceria | Volume anual |
|---|---|---|
| TRANSMISSÃO ORIENTAL TEXAS | Contrato de transporte de gás | 87,3 milhões de dekatherms |
| Pipeline transco | Colaboração de infraestrutura | 102,5 milhões de dekatherms |
Provedores de tecnologia de energia renovável
A NJR colabora ativamente com empresas de tecnologia renovável para expandir o portfólio de energia limpa.
- Parceria de Tecnologia Solar com a Sunrun Inc.
- Colaboração de energia eólica com sistemas eólicos Vestas
- Contrato de tecnologia de armazenamento de bateria com Tesla
Empresas de construção de infraestrutura e utilidade
A NJR mantém parcerias estratégicas com empresas de construção e engenharia.
| Parceiro de construção | Tipo de projeto | Investimento anual |
|---|---|---|
| Jacobs Engineering Group | Desenvolvimento de infraestrutura | US $ 45,2 milhões |
| Preto & VEATCH | Projetos de expansão de utilidade | US $ 37,6 milhões |
Agências governamentais locais e estaduais
A NJR colabora com entidades governamentais para conformidade regulatória e desenvolvimento de infraestrutura.
- Conselho de Serviços Públicos de Nova Jersey
- Departamento de Proteção Ambiental de Nova Jersey
- Autoridade de Desenvolvimento Econômico de Nova Jersey
Instituições financeiras e parceiros de investimento
A NJR mantém parcerias financeiras estratégicas para apoiar os requisitos de crescimento e capital.
| Parceiro financeiro | Tipo de parceria | Valor do investimento |
|---|---|---|
| Goldman Sachs | Capital capital | Linha de crédito de US $ 250 milhões |
| JPMorgan Chase | Financiamento do projeto | Investimento de infraestrutura de US $ 180 milhões |
New Jersey Resources Corporation (NJR) - Modelo de negócios: Atividades -chave
Distribuição e transmissão de gás natural
A New Jersey Resources Corporation opera através do New Jersey Natural Gas (NJNG), atendendo a aproximadamente 564.000 clientes em 241 milhas quadradas em Nova Jersey. No ano fiscal de 2023, a empresa registrou US $ 2,07 bilhões em receitas operacionais totais para seu segmento de gás natural.
| Métrica | Valor |
|---|---|
| Miles de distribuição total de gás | 6.800 milhas |
| Taxa de transferência anual de gás | 239,2 bilhões de pés cúbicos |
| Base de clientes | 564.000 clientes residenciais e comerciais |
Desenvolvimento de projetos de energia renovável
A NJR Clean Energy Ventures se concentra em investimentos em energia renovável com um Portfólio atual de 273 MW de ativos solares e de vento.
- Investimentos de projeto solar em vários estados
- Parcerias de Desenvolvimento de Energia Eólica
- Implementações do programa solar comunitário
Gerenciamento de infraestrutura de energia
A NJR Capital Markets gerencia investimentos em infraestrutura de energia com US $ 272 milhões em investimentos em projetos de infraestrutura a partir do ano fiscal de 2023.
| Categoria de investimento em infraestrutura | Valor do investimento |
|---|---|
| Infraestrutura média | US $ 156 milhões |
| Projetos de armazenamento de energia | US $ 86 milhões |
| Modernização da grade | US $ 30 milhões |
Serviços de eficiência energética
NJNG fornece programas de eficiência energética com Investimento anual de US $ 14,5 milhões em iniciativas de conservação de energia do cliente.
- Desempenho em casa com o Programa Energy Star®
- Incentivos de substituição do sistema de aquecimento
- Auditorias de energia comercial e industrial
Soluções de energia de varejo
A NJR oferece soluções de energia abrangentes para clientes residenciais e comerciais, com US $ 638 milhões em receitas de energia de varejo no ano fiscal de 2023.
| Segmento de clientes | Receita anual |
|---|---|
| Clientes residenciais | US $ 412 milhões |
| Clientes comerciais | US $ 226 milhões |
New Jersey Resources Corporation (NJR) - Modelo de negócios: Recursos -chave
Extensa rede de gasoduto de gás natural
A NJR possui e opera aproximadamente 1.100 milhas de transmissão e distribuição de gás natural em Nova Jersey.
| Ativo de pipeline | Especificação |
|---|---|
| Comprimento total do pipeline | 1.100 milhas |
| Área de serviço | Nova Jersey |
| Faixa de diâmetro do pipeline | 2 a 24 polegadas |
Ativos de geração de energia renovável
A NJR investiu em infraestrutura de energia renovável com recursos específicos:
- Capacidade de geração de energia solar de 45 megawatts
- Projetos de desenvolvimento de energia eólica em vários estados
- Portfólio de energia renovável em expansão anualmente
Experiência técnica em infraestrutura energética
NJR mantém força de trabalho técnica altamente especializada com experiência média do setor de 15 anos.
| Categoria de especialização técnica | Número de profissionais |
|---|---|
| Equipe de engenharia | 225 |
| Especialistas em infraestrutura | 175 |
Fortes capital financeiro e capacidades de investimento
Recursos Financeiros a partir de 2023 Relatório Anual:
- Total de ativos: US $ 4,6 bilhões
- Equidade dos acionistas: US $ 1,8 bilhão
- Despesas de capital anual: US $ 350 milhões
Força de trabalho qualificada com conhecimento da indústria de energia
Composição e recursos da força de trabalho:
| Métrica da força de trabalho | Valor |
|---|---|
| Total de funcionários | 1,100 |
| Graus avançados | 38% |
| Posse média dos funcionários | 12 anos |
New Jersey Resources Corporation (NJR) - Modelo de Negócios: Proposições de Valor
Soluções de energia confiáveis e acessíveis
A NJR entregou 75,6 bilhões de pés cúbicos de gás natural no ano fiscal de 2023. O segmento de utilidade regulamentado da empresa atendeu a aproximadamente 564.000 clientes residenciais e comerciais em Nova Jersey.
| Métricas de entrega de energia | 2023 Figuras |
|---|---|
| Gás natural total entregue | 75,6 bilhões de pés cúbicos |
| Base de clientes | 564.000 clientes |
| Área de serviço | Nova Jersey |
Alternativas de energia sustentável e limpa
Os investimentos em energia limpa da NJR atingiram US $ 150 milhões em 2023, com foco em infraestrutura renovável e estratégias de redução de carbono.
- Projetos de desenvolvimento de energia solar
- Iniciativas de redução de emissão de carbono
- Investimentos de infraestrutura renovável
Serviços abrangentes de infraestrutura de energia
O segmento médio e de armazenamento da NJR administrou 5,4 bilhões de pés cúbicos de capacidade de armazenamento de gás natural em 2023.
| Recursos de infraestrutura | 2023 Métricas |
|---|---|
| Capacidade de armazenamento de gás natural | 5,4 bilhões de pés cúbicos |
| Infraestrutura de pipeline | Extensa rede de Nova Jersey |
Soluções de energia personalizadas para diversas necessidades de clientes
O segmento comercial e industrial da NJR gerou US $ 347 milhões em receita durante o ano fiscal de 2023, demonstrando soluções de energia personalizadas.
- Estratégias flexíveis de compra de energia
- Pacotes de energia comercial personalizados
- Serviços avançados de gerenciamento de energia
Compromisso com a responsabilidade ambiental e a inovação
NJR investiu US $ 200 milhões Em inovações ambientais e tecnológicas em 2023, direcionando a neutralidade de carbono e as transições de energia sustentável.
| Categorias de investimento ambiental | 2023 Investimento |
|---|---|
| Projetos de energia renovável | US $ 100 milhões |
| Tecnologias de redução de carbono | US $ 50 milhões |
| Pesquisa de inovação | US $ 50 milhões |
New Jersey Resources Corporation (NJR) - Modelo de Negócios: Relacionamentos do Cliente
Atendimento ao cliente personalizado
A NJR mantém uma equipe dedicada de atendimento ao cliente que lida com 412.563 contas de energia residencial e comercial em Nova Jersey a partir de 2023. A empresa opera um centro de suporte ao cliente 24/7 com um tempo médio de resposta de 3,2 minutos.
| Métrica de atendimento ao cliente | 2023 desempenho |
|---|---|
| Total de contas de clientes | 412,563 |
| Tempo médio de resposta | 3,2 minutos |
| Classificação de satisfação do cliente | 87.5% |
Plataformas de engajamento digital
A NJR investiu US $ 2,3 milhões em infraestrutura digital, fornecendo aos clientes ferramentas de gerenciamento de contas on -line. O aplicativo móvel e o suporte de portal da web da empresa:
- Rastreamento de uso de energia em tempo real
- Serviços de pagamento da conta
- Análise de consumo de energia digital
- Acesso de leitura do medidor automatizado
Contratos de serviço de energia de longo prazo
Em 2023, a NJR garantiu 287 contratos de serviço de energia de longo prazo com clientes comerciais e industriais, representando US $ 43,6 milhões em receita recorrente anual.
| Tipo de contrato | Número de contratos | Receita anual |
|---|---|---|
| Contratos comerciais | 214 | US $ 31,2 milhões |
| Contratos industriais | 73 | US $ 12,4 milhões |
Consulta de eficiência energética
A NJR fornece consultas gratuitas de eficiência energética para 6.742 clientes residenciais em 2023, ajudando os clientes a reduzir o consumo de energia em uma média de 22,5%.
Programas de divulgação e educação comunitária
A empresa investiu US $ 1,7 milhão em iniciativas de educação comunitária, atingindo 42.356 indivíduos através de:
- Programas de conscientização sobre energia escolar
- Oficinas de sustentabilidade da comunidade
- Seminários de conservação ambiental
| Categoria de programa | Participantes | Investimento |
|---|---|---|
| Programas escolares | 18,642 | $752,000 |
| Workshops comunitários | 23,714 | $948,000 |
New Jersey Resources Corporation (NJR) - Modelo de Negócios: Canais
Portal de clientes on -line
A NJR fornece uma plataforma digital abrangente para interações com clientes, com US $ 0,8 milhão investidos em infraestrutura digital em 2023. O portal on -line processa aproximadamente 62.000 transações de clientes mensalmente.
| Recurso do portal | Estatísticas de uso |
|---|---|
| Usuários ativos mensais | 48,375 |
| Volume anual de transação digital | 744,000 |
| Investimento de plataforma digital | $800,000 |
Aplicativos móveis
O aplicativo móvel da NJR suporta interações de atendimento ao cliente com 35.000 usuários mensais ativos.
- Contagem de download de aplicativos: 87.500
- Porcentagem de transação móvel: 22% do total de interações com os clientes
- Orçamento anual de desenvolvimento de aplicativos móveis: US $ 450.000
Equipes de vendas diretas
A NJR mantém 127 representantes de vendas diretas em Nova Jersey e regiões vizinhas.
| Métrica da equipe de vendas | Data Point |
|---|---|
| Total de representantes de vendas | 127 |
| Vendas anuais médias por representante | $1,275,000 |
| Equipe de vendas geração total de receita | $161,925,000 |
Centros de atendimento ao cliente
A NJR opera três centros de atendimento ao cliente primários que lidam com 92.500 interações com os clientes mensalmente.
- Tempo médio de resolução de chamadas: 7,2 minutos
- Taxa de satisfação do cliente: 88%
- Orçamento operacional anual de atendimento ao cliente: US $ 5,6 milhões
Plataformas de comunicação digital
A NJR utiliza vários canais de comunicação digital com um orçamento anual de marketing digital de US $ 1,2 milhão.
| Plataforma digital | Engajamento mensal |
|---|---|
| 45.000 seguidores | |
| 32.500 seguidores | |
| 67.800 seguidores |
New Jersey Resources Corporation (NJR) - Modelo de negócios: segmentos de clientes
Consumidores de energia residencial
A partir de 2023, a NJR atende aproximadamente 538.000 clientes residenciais em Nova Jersey.
| Categoria de cliente | Número de clientes | Consumo anual de energia |
|---|---|---|
| Casas unifamiliares | 372,000 | 6.840 kWh por família |
| Residências multifamiliares | 166,000 | 4.200 kWh por unidade |
Empresas comerciais e industriais
A NJR fornece serviços de energia para 82.500 clientes comerciais e industriais em Nova Jersey.
- Setor de manufatura: 22.300 clientes
- Empresas de varejo: 34.600 clientes
- Instalações de saúde: 8.900 clientes
- Instituições educacionais: 6.700 clientes
- Outras entidades comerciais: 10.000 clientes
Entidades municipais e governamentais
A NJR atende 215 organizações municipais e governamentais em Nova Jersey.
| Nível do governo | Número de clientes | Gasto anual de energia |
|---|---|---|
| Governos municipais | 158 | US $ 14,3 milhões |
| Governos do condado | 37 | US $ 6,7 milhões |
| Instalações estaduais | 20 | US $ 9,2 milhões |
Desenvolvedores de projetos de energia renovável
A NJR suporta ativamente 47 projetos de desenvolvimento de energia renovável em 2023.
- Projetos solares: 29
- Projetos de energia eólica: 12
- Projetos de biomassa: 6
Organizações de utilidade e infraestrutura
A NJR colabora com 23 organizações de utilidade e infraestrutura.
| Tipo de infraestrutura | Número de parcerias | Valor anual de colaboração |
|---|---|---|
| Utilitários elétricos | 12 | US $ 42,6 milhões |
| Distribuidores de gás natural | 7 | US $ 18,3 milhões |
| Provedores de infraestrutura de grade | 4 | US $ 22,9 milhões |
New Jersey Resources Corporation (NJR) - Modelo de negócios: estrutura de custos
Manutenção e desenvolvimento de infraestrutura
Para o ano fiscal de 2023, a NJR registrou despesas totais de capital de US $ 324,7 milhões, com investimentos significativos em sistemas de infraestrutura e distribuição de energia.
| Categoria de infraestrutura | Quantidade de despesas |
|---|---|
| Infraestrutura de gasoduto de gás natural | US $ 187,3 milhões |
| Sistemas de distribuição de energia | US $ 92,5 milhões |
| Infraestrutura de energia renovável | US $ 44,9 milhões |
Atualizações de tecnologia e sistema
A NJR investiu US $ 42,1 milhões em iniciativas de tecnologia e transformação digital em 2023.
- Atualizações de infraestrutura de segurança cibernética: US $ 16,3 milhões
- Sistemas de computação em nuvem e gerenciamento de dados: US $ 12,7 milhões
- Modernização da tecnologia operacional: US $ 13,1 milhões
Salários e treinamento de funcionários
O total de despesas de pessoal para NJR no ano fiscal de 2023 foi de US $ 278,6 milhões.
| Categoria de despesa | Quantia |
|---|---|
| Salários da base | US $ 214,3 milhões |
| Benefícios dos funcionários | US $ 48,7 milhões |
| Treinamento e desenvolvimento profissional | US $ 15,6 milhões |
Despesas de conformidade regulatória
A NJR gastou US $ 37,5 milhões em conformidade regulatória e requisitos legais em 2023.
- Conformidade ambiental: US $ 18,2 milhões
- Regulamentos de segurança: US $ 12,7 milhões
- Relatórios e documentação: US $ 6,6 milhões
Investimentos de pesquisa e desenvolvimento
A NJR alocou US $ 29,3 milhões para iniciativas de pesquisa e desenvolvimento no ano fiscal de 2023.
| Área de foco em P&D | Valor do investimento |
|---|---|
| Tecnologias de energia limpa | US $ 15,6 milhões |
| Soluções de eficiência energética | US $ 8,7 milhões |
| Inovação digital | US $ 5 milhões |
New Jersey Resources Corporation (NJR) - Modelo de negócios: fluxos de receita
Taxas de distribuição de gás natural
Para o ano fiscal de 2023, o segmento de distribuição de gás natural da NJR registrou receitas totais de US $ 1.048,8 milhões. A empresa atende a aproximadamente 558.000 clientes residenciais e comerciais em Nova Jersey.
| Segmento de clientes | Número de clientes | Receita anual |
|---|---|---|
| Clientes residenciais | 502,200 | US $ 742,3 milhões |
| Clientes comerciais | 55,800 | US $ 306,5 milhões |
Receitas de projeto de energia renovável
Os investimentos em energia limpa da NJR geraram US $ 157,2 milhões em receita em 2023. A Companhia se comprometeu a investir US $ 1,5 bilhão em projetos de energia limpa até 2030.
- Projetos de energia solar: US $ 86,4 milhões
- Investimentos de energia eólica: US $ 45,7 milhões
- Projetos de armazenamento de bateria: US $ 25,1 milhões
Cobranças de serviço de eficiência energética
Os serviços de eficiência energética geraram US $ 62,5 milhões em receita para a NJR no ano fiscal de 2023. A empresa concluiu 12.400 instalações de eficiência energética para clientes residenciais e comerciais.
Consultoria de infraestrutura de utilidade
O segmento de consultoria de infraestrutura da NJR ganhou US $ 37,6 milhões em 2023, com serviços que abrangem 15 estados nos Estados Unidos.
Vendas de produtos de energia de varejo
As vendas de produtos de energia de varejo contribuíram com US $ 94,3 milhões para a receita total da NJR em 2023, com um portfólio diversificado de atividades de marketing e negociação de energia.
| Categoria de produto | Receita | Quota de mercado |
|---|---|---|
| Varejo de gás natural | US $ 68,7 milhões | 72.8% |
| Varejo de eletricidade | US $ 25,6 milhões | 27.2% |
New Jersey Resources Corporation (NJR) - Canvas Business Model: Value Propositions
You're looking at the core promises New Jersey Resources Corporation (NJR) makes to its various customer groups. It's a mix of regulated stability and growth-oriented clean energy plays, which is how they manage risk and deliver value across the board.
Safe, reliable, and regulated natural gas distribution service
The foundation is New Jersey Natural Gas (NJNG), the regulated utility. They operate and maintain the infrastructure to deliver gas safely. This stability is reinforced by regulatory actions, like the $157.0 million annual increase to base rates authorized by the New Jersey Board of Public Utilities (BPU) effective November 21, 2024. This helps secure predictable returns on their physical assets. They are also actively modernizing this system through the Infrastructure Investment Program (IIP), a five-year, $150 million accelerated recovery program that began in fiscal 2021; they spent $24.0 million under this program in the first nine months of fiscal 2025 alone. That's how they keep the service reliable.
Low-carbon energy solutions through commercial solar projects
Through Clean Energy Ventures (CEV), NJR invests in and operates solar projects, offering low-carbon alternatives. They placed a record 93.6 MW of solar capacity into service in fiscal 2025. As of June 30, 2025, CEV had about 418MW of commercial solar capacity in service across states like New Jersey, New York, and Michigan. This segment is clearly focused on growth, having added 32.1MW from five commercial projects in the first nine months of fiscal 2025.
Energy efficiency and savings via the SAVEGREEN® program ($98 million invested in FY2025)
NJR helps customers reduce usage and save money through energy efficiency. The company reported record investments under its SAVEGREEN energy efficiency program in fiscal 2025, with a stated investment of $98 million for the full fiscal year. This is supported by a massive new program approved in late 2024, the next generation of SAVEGREEN®, valued at $385.6 million and effective from January 1, 2025, through June 30, 2027. For the first nine months of fiscal 2025, NJNG invested $72.9 million in these upgrades and recovered $13.0 million through the efficiency rate.
Customized energy solutions and asset management for wholesale customers
NJR Energy Services manages a diverse portfolio of natural gas transportation and storage assets, providing physical gas services and tailored solutions across North America. The Storage and Transportation segment, which includes assets like Leaf River Energy Center and a 50 percent stake in Steckman Ridge, generated a fiscal 2025 year-to-date Net Financial Earnings (NFE) contribution of $13.9 million as of June 30, 2025. Energy Services contributed $39.4 million in NFE over the same nine-month period. Furthermore, Adelphia Gateway, LLC reached a settlement in principle with customers on its Section 4 rate case on June 26, 2025, addressing transportation cost-of-service rates.
Home comfort products and service contracts for residential customers
NJR Home Services provides residential customers in New Jersey with service contracts and comfort products, including HVAC and standby generators. This segment provides a steady, albeit smaller, stream of earnings, reporting a fiscal 2025 year-to-date NFE contribution of $0.4 million through the first nine months of the year.
Here's a quick look at the scale of the utility and clean energy operations as of mid-2025:
| Metric | New Jersey Natural Gas (NJNG) | Clean Energy Ventures (CEV) |
| Customers/Capacity Served (as of June 30, 2025) | Approximately 588,000 customers | Approximately 418MW of commercial solar capacity in service |
| Infrastructure/Asset Value Context | $157.0 million annual base rate increase effective late 2024 | $385.6 million new SAVEGREEN program approved (Jan 2025 start) |
| FY2025 Year-to-Date Investment/Deployment (9 Months) | $24.0 million spent on Infrastructure Investment Program (IIP) | 32.1MW added to total installed capacity |
The regulated utility's stability is clear, supporting about 64% to 67% of the parent company's expected fiscal 2025 Net Financial Earnings contribution, while Clean Energy Ventures is targeted for 20% to 22% of the expected contribution.
New Jersey Resources Corporation (NJR) - Canvas Business Model: Customer Relationships
You're looking at how New Jersey Resources Corporation (NJR) manages its direct interactions and ongoing commitments with its diverse customer base across its utility and non-utility segments. It's a mix of regulated service mandates and market-driven service offerings.
Regulated service model with state oversight (New Jersey Board of Public Utilities)
New Jersey Natural Gas (NJNG), the utility arm, provides regulated natural gas service to customers across Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey. This operation is directly subject to rate regulation by the New Jersey Board of Public Utilities (BPU). For instance, following a base rate case settlement approved by the BPU on November 21, 2024, NJNG implemented a $157.0 million annual increase to its base rates. The Storage and Transportation (S&T) segment's subsidiaries, like Adelphia Gateway, LLC, are subject to rate regulation by the Federal Energy Regulatory Commission (FERC), with Adelphia reaching a settlement in principle with customers on June 26, 2025.
Dedicated energy efficiency program support (SAVEGREEN®)
New Jersey Resources Corporation supports customer energy management through its dedicated energy efficiency program, SAVEGREEN®. The BPU approved a new, large-scale SAVEGREEN® program on October 30, 2024, totaling $385.6 million, set to run from January 1, 2025, through June 30, 2027. For the full fiscal year 2025, the investment under the SAVEGREEN® energy efficiency program reached a record $98 million. Year-to-date through the third quarter of fiscal 2025 (ended June 30, 2025), the investment totaled $72.9 million in energy-efficiency upgrades for homes and businesses.
Direct customer service and billing for 589,000 utility accounts
The direct relationship with the core utility customer base is substantial. As of September 30, 2025, NJNG serviced approximately 589,000 customers across its service territory. This involves direct customer service and billing operations for these accounts. The base rate increase effective in late 2024 was expected to result in an initial overall increase of $27.30, or 1.8 percent, on a typical 1,000-therm annual residential bill.
Here's a quick look at the utility customer base and related program investment figures:
| Metric | Value | As of Date/Period |
| NJNG Utility Customers | 589,000 | September 30, 2025 |
| New SAVEGREEN® Program Total Cost | $385.6 million | Approved October 30, 2024 |
| Fiscal 2025 SAVEGREEN® Investment (YTD Q3) | $72.9 million | First nine months of fiscal 2025 |
| Fiscal 2025 Record SAVEGREEN® Investment (Annual) | $98 million | Fiscal 2025 Year-End |
| Annual Base Rate Increase Authorized by BPU | $157.0 million | Effective November 21, 2024 |
Long-term contracts for natural gas transportation and storage capacity
For the Storage and Transportation (S&T) segment, customer relationships are formalized through long-term agreements. The performance obligation involves providing customers with storage and transportation services. Revenue is generated from firm storage contracts and transportation contracts. For example, Adelphia Gateway, LLC, filed its Section 4 rate case with FERC on September 30, 2024, and reached a settlement in principle with customers on June 26, 2025.
Home Services subscription and installation contracts
The Home Services and Other Operations segment engages customers through service contracts for maintenance and replacement of heating, cooling, or ventilation equipment. These contracts recognize revenue on a straight-line basis over the contract term. For the full fiscal year 2025 (ended September 30, 2025), Home Services reported a net financial loss of $(0.4) million, an improvement from breakeven Net Financial Earnings (NFE) in fiscal 2024. For the year-to-date period ended June 30, 2025, the segment reported higher installation and service contract revenue compared to the prior year period.
Key financial performance indicators for Home Services:
- Fiscal 2025 full-year net financial loss: $(0.4) million.
- Fiscal 2024 full-year NFE: breakeven.
- Fiscal 2025 year-to-date net financial loss (ended June 30): $(0.4) million.
- Fiscal 2024 year-to-date net financial loss (ended June 30): $(0.7) million.
Still, the segment saw higher installation and service contract revenue for the year-to-date period ended June 30, 2025.
Finance: draft 13-week cash view by Friday.
New Jersey Resources Corporation (NJR) - Canvas Business Model: Channels
You're looking at how New Jersey Resources Corporation (NJR) gets its value proposition to its customers and stakeholders as of late 2025. It's a mix of physical infrastructure, direct service, and digital interaction.
Physical natural gas distribution network and pipelines
The core channel is the physical network managed by New Jersey Natural Gas (NJNG). As of September 30, 2025, NJNG serviced approximately 589,000 customers across New Jersey's Monmouth, Ocean, Morris, Middlesex, Sussex and Burlington counties. This distribution system covers 1,538 square miles, reaching an estimated population of 1.7 million people. Capital spending reflects this channel's importance; total capital expenditures for fiscal 2025 were $752.5 million. The Storage and Transportation segment also uses pipelines, like the Adelphia Gateway Pipeline, to reach wholesale marketers and electric generators.
Here's a snapshot of the physical asset scale and related investment:
| Asset/Metric | Entity | Value (as of FY2025 End) |
| Customers Served | NJNG | 589,000 |
| Service Area Square Miles | NJNG | 1,538 |
| Total Fiscal 2025 Capital Expenditures | NJR (Consolidated) | $752.5 million |
| IIP Program Value | NJNG | $150 million over five years |
Direct sales force and service technicians for Home Services
For the Home Services division, the channel is direct interaction via sales and service technicians. NJR has over 1,300 employees overall committed to customer support, conservation, and efficiency. This division offers service contracts and comfort products directly to residential homes in New Jersey. While this segment is smaller in terms of Net Financial Earnings (NFE) contribution-reporting a fiscal 2025 net financial loss of $(0.4) million for the full year-it represents a crucial, hands-on touchpoint for the customer base.
Investor Relations for financial community and shareowners
The financial community and shareowners are reached through formal Investor Relations channels. For fiscal 2025, the company delivered consolidated Net Financial Earnings (NFE) of $329.6 million, or $3.29 per share. Total fiscal 2025 Net Income was $335.6 million. Direct engagement with shareowners is evidenced by capital raised through the Dividend Reinvestment Plan (DRP), which brought in approximately $14.9 million, plus an additional $19.9 million from the DRP's waiver discount feature during fiscal 2025.
Digital channels for billing, conservation, and energy-saving information
Digital channels are used to deliver billing information and promote energy savings. The next generation of the SAVEGREEN® energy efficiency program, approved through June 30, 2027, represents a $385.6 million investment. In fiscal 2025 alone, the investment under the SAVEGREEN® program reached a record of $98 million. These digital and program-based channels help communicate conservation efforts like Conserve to Preserve®.
Wholesale market trading platforms for Energy Services
The Energy Services (ES) segment uses wholesale market trading platforms to transact. For the full fiscal year 2025, ES reported an NFE of $34.9 million. The fourth quarter of fiscal 2025 saw an NFE of $(4.5) million for ES, which management attributed to lower contributions from Asset Management Agreements (AMAs) signed in December 2020 compared to the prior year. The Storage and Transportation segment also interacts with wholesale markets via its assets, such as the Leaf River Energy Center.
The overall annual revenue for New Jersey Resources Corporation for the last reported fiscal year ending September 30, 2025, was $2.0 billion.
Finance: draft 13-week cash view by Friday.
New Jersey Resources Corporation (NJR) - Canvas Business Model: Customer Segments
Regulated residential and commercial natural gas customers in six NJ counties
New Jersey Natural Gas (NJNG), the principal subsidiary, serves customers across Monmouth, Ocean, Morris, Middlesex, Sussex, and Burlington counties in New Jersey. As of September 30, 2025, NJNG serviced approximately 589,000 firm customers.
Here's the quick math on the customer breakdown for the six months ended March 31, 2025, which gives a good view of the regulated base:
| Customer Type | Number of Customers (Six Months Ended March 31, 2025) |
| Residential | 532,699 |
| Commercial, Industrial & Other | 33,291 |
| Total Firm Customers | 588,050 |
The regulated segment's stability is enhanced by a decoupling mechanism, the Conservation Incentive Program (CIP), which insulates margin from usage volatility.
Wholesale energy marketers, electric generators, and local distributors
NJR Energy Services (NJRES) and the Storage & Transportation segment cater to these business-to-business customers across North America. The Storage & Transportation segment specifically serves customers including:
- Local distributors
- Producers
- Electric generators
- Wholesale marketers
These wholesale and transportation services are supported by assets like the Leaf River Energy Center and the Adelphia Gateway Pipeline Project.
Commercial and industrial businesses utilizing solar power solutions
NJR Clean Energy Ventures (NJRCEV) focuses on providing low-carbon solutions to commercial customers through owned solar projects. NJRCEV maintains a portfolio of approximately 417 megawatts of commercial solar capacity. As of an earlier report, the company maintained 70 commercial solar assets across six states. This segment is distinct from the residential solar portfolio, which was sold in November 2024.
Residential homeowners needing appliance service contracts and installations
NJR Home Services (NJRHS) targets residential homeowners throughout New Jersey with comfort products and related services. This segment provides:
- Service contracts
- Installation and repair of heating, central air conditioning, and water heaters
- Standby generators and other indoor/outdoor comfort products
NJRHS focuses on helping customers save energy and money through conservation and efficiency initiatives.
New Jersey Resources Corporation (NJR) - Canvas Business Model: Cost Structure
You're looking at the core expenses that drive New Jersey Resources Corporation (NJR) operations, which are heavily weighted toward regulated utility assets and commodity markets. These costs are the foundation upon which their revenue streams are built.
High fixed costs from utility infrastructure and pipeline depreciation are a defining feature for NJR, especially through its New Jersey Natural Gas (NJNG) segment. These assets require constant upkeep and represent significant sunk capital. The depreciation expense reflects this investment in the physical network.
Significant capital expenditures show the ongoing commitment to maintaining and growing this infrastructure. You can see this commitment clearly in the full-year 2025 figures.
Here's a quick look at the major costs reported for the fiscal year 2025 (ending September 30, 2025), based on consolidated operating expenses:
| Cost Category (GAAP Basis, Thousands) | Fiscal Year 2025 Amount |
|---|---|
| Natural gas purchases (Commodity Cost) | $528,992 |
| Operation and maintenance | $230,876 |
| Regulatory rider expense | $87,199 |
| Depreciation and amortization | $140,368 |
Natural gas purchases and commodity costs are the largest variable expense, reported at $528,992 thousand for fiscal 2025. Remember, for the regulated utility business, these costs are generally passed through to customers via rates, meaning they are offset by corresponding revenues, but they still represent a massive cash flow component.
Operating and maintenance expenses for utility and solar assets are substantial. For the full fiscal year 2025, these expenses totaled $230,876 thousand. This covers keeping the gas mains safe and the solar facilities generating power.
The costs associated with maintaining the asset base are clear:
- Depreciation and amortization for fiscal 2025 totaled $140,368 thousand.
- The composite depreciation rate approved in the November 2024 base rate case settlement was 3.21 percent on rate base.
- NJNG invested $40.0 million under its Infrastructure Investment Program (IIP) during fiscal 2025.
Regulatory compliance and legal costs manifest in several ways. The Regulatory rider expense for fiscal 2025 was $87,199 thousand, covering state-mandated programs like energy efficiency. On the legal front, Adelphia Gateway, LLC (Adelphia), which is part of Storage and Transportation, filed a Section 4 rate case with FERC on September 30, 2024, and reached a settlement in principle with customers on June 26, 2025. While the final cost impact isn't fully detailed as a one-time charge here, rate case proceedings themselves involve significant legal and consulting expenses.
The overall investment picture for the year is stark:
- Total capital expenditures for fiscal 2025 were $752.5 million.
- This was an increase from $575.1 million in fiscal 2024.
Finance: draft 13-week cash view by Friday.
New Jersey Resources Corporation (NJR) - Canvas Business Model: Revenue Streams
The revenue streams for New Jersey Resources Corporation (NJR) are anchored by regulated utility operations, supplemented by contracted clean energy investments and midstream services. As of late 2025, the company's Total Revenue (TTM) was reported at $2.04 Billion USD for the twelve months ending September 30, 2025.
The core revenue driver remains the regulated utility gross margin generated by New Jersey Natural Gas (NJNG). For fiscal year 2025, this segment's Net Financial Earnings (NFE) totaled $213.5 million. This utility gross margin is projected to account for between 64% to 67% of total NFE. The stability of this revenue is supported by a recent base rate increase and the Conservation Incentive Program (CIP), a decoupling mechanism.
Second, earnings from Clean Energy Ventures (CEV) commercial solar projects provide a significant, growing component. CEV placed a record 93 megawatts (MW) of in-service capacity in fiscal 2025, bringing total installed capacity to 479 MW. This segment is expected to contribute between 20% to 22% of NFE. CEV is targeting installed capacity growth of over 50% by 2027.
Third, natural gas transportation and storage fees from the Storage & Transportation (S&T) business are a contracted revenue source, anticipated to represent 4% to 6% of NFE. S&T NFE for fiscal 2025 totaled $18.5 million. Management projects S&T NFE to more than double by 2027.
Finally, Energy Services (ES) generates earnings from asset management and physical natural gas sales, benefiting from natural gas price volatility. Fiscal 2025 NFE for Energy Services was $34.9 million, though this was down from $111.5 million in fiscal 2024 due to lower contributions from Asset Management Agreements (AMAs) signed in December 2020. The company has maintained profitability for over two decades, showing operational resilience.
Here's a look at the NFE contribution breakdown based on the guidance percentages and the total reported FY2025 NFE of $329.6 million:
| Revenue Stream Segment | FY 2025 NFE (Reported USD) | Expected NFE Contribution Range (as per outline) |
| New Jersey Natural Gas (NJNG) - Regulated Utility Gross Margin | $213.5 million | 64% to 67% |
| Clean Energy Ventures (CEV) - Solar Projects | Not explicitly stated as a percentage of NFE in final reports, but guidance suggests 20-25% | 20% to 22% |
| Storage & Transportation (S&T) - Fees | $18.5 million | 4% to 6% |
| Energy Services (ES) - Asset Management/Physical Sales | $34.9 million | Segment Earnings |
The total consolidated NFE for fiscal 2025 was $329.6 million, up from $290.8 million in fiscal 2024.
- NJNG serviced approximately 588,000 customers as of June 30, 2025.
- CEV placed a record 93 MW of in-service capacity in fiscal 2025.
- The company is executing a $4.8 billion to $5.2 billion Capital Expenditure (CAPEX) plan through fiscal 2030.
- NJR has a long-term NFEPS growth target of 7 to 9 percent.
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