Profile: New Jersey Resources Corporation (NJR.N)

New Jersey Resources Corporation (NJR) is an energy services holding company providing retail and wholesale energy services to customers in states from the Gulf Coast to the New England regions, including the Mid-Continent region, the West Coast and Canada. NJR’s subsidiaries and businesses include New Jersey Natural Gas (NJNG), a local natural gas distribution company that provides regulated retail natural gas service to approximately 487,000 residential and commercial customers. NJR Energy Services (NJRES) maintains and transacts around a portfolio of physical assets consisting of natural gas storage and transportation contracts. It also provides wholesale energy management services to other energy companies. NJRES comprises the Company’s Energy Services segment. The Company operates within two reportable business segments: Natural Gas Distribution and Energy Services.

NJR also has retail and other operations (Retail and Other), which includes NJR Energy Investments (NJREI), NJR Energy Holdings, NJR Investment, NJR Energy Corporation (NJR Energy), NJR Clean Energy Ventures, NJR Retail Holdings (Retail Holdings), NJR Home Services (NJRHS), Commercial Realty & Resources (CR&R), NJR Plumbing Services (NJRPS) and NJR Service (NJR Service).

Natural Gas Distribution

New Jersey Natural Gas (NJNG) provides natural gas service to approximately 487,000 customers. Its service territory encompasses 1,516 square miles, covering 105 municipalities. During the fiscal year ended September 30, 2009 (fiscal 2009), NJNG added 5,841 new customers and added natural gas heat and other services to 709 existing customers. NJNG’s gas supply portfolio consists of long-term, winter-term and short-term contracts. During fiscal 2009, NJNG purchased gas from 95 suppliers under contracts. In addition, NJNG has storage and related transportation contracts that provide additional maximum daily deliverability.

Energy Services

NJR Energy Services (NJRES) provides unregulated wholesale energy services and engages in the business of optimizing natural gas storage and transportation assets. These activities are conducted in states from the Gulf Coast and Mid-continent regions to the Appalachian and Northeast regions, the West Coast and Canada. Its activities consists of identifying and benefiting from variations in pricing of natural gas transportation and storage assets due to location or timing differences of natural gas prices; providing natural gas portfolio management services to nonaffiliated utilities and electric generation facilities; leveraging transactions for the delivery of natural gas to customers by aggregating the natural gas commodity costs and transportation costs, and managing economic hedging programs that are designed to mitigate adverse market price fluctuations in natural gas transportation and storage commitments.

NJRES has a portfolio of customers, including local distribution companies, industrial companies, electric generators, retail aggregators and other wholesale marketing companies.

Retail and Other operations consist primarily of the unregulated affiliates, which include NJRHS, which provides service, sales and installation of appliances; NJR Energy Holdings, a company that invests in energy-related ventures through its subsidiary, Pipeline; NJR Steckman Ridge Storage Company, which holds the Company’s 50% equity investment in Steckman Ridge; CR&R, which holds and develops commercial real estate; NJR Investment, a company that makes and holds certain energy-related investments, primarily through equity instruments of public companies; NJR Energy, a company that invests in energy-related ventures, and NJR Service, which provides shared administrative and financial services to the Company and all its subsidiaries.