What the changes say
- Acquisition integration and joint venture governance risks were added, while credit market and regulatory asset risks were remapped.
What changed since the prior 10-K
New
- NewRisks Related to Acquisition and Investment Strategies
ITEM 1A. RISK FACTORS (Continued)
Acquisition and joint venture growth opportunities, synergies, and management control may not be fully realized.
- NewRisks Related to Tax and Accounting Matters
ITEM 1A. RISK FACTORS (Continued)
Adelphia faces potential financial impacts if FERC changes regulatory asset recovery rules for deferred costs.
Dropped
- DroppedRisks Related to Credit and Liquidity
Additionally, lower credit ratings could adversely affect relationships with NJNG’s state regulators, who may be unwilling to allow NJNG to pass along increased costs to its natural gas customers
Reworded
- 100% rewrittenRisks Related to Credit and Liquidity
ITEM 1A. RISK FACTORS (Continued)
Replaced joint venture risks with credit market access, interest rate pressures, and NJNG debt approval constraints.
Was: ITEM 1A. RISK FACTORS (Continued)
- 100% rewrittenRisks Related to Technologies
ITEM 1A. RISK FACTORS (Continued)
Replaced New Jersey clean energy policy risks with third-party cyber and terrorism infrastructure vulnerabilities.
Was: ITEM 1A. RISK FACTORS (Continued)
- 100% rewrittenRisks Related to Regulations and Litigation
ITEM 1A. RISK FACTORS (Continued)
Replaced BPU regulatory asset disallowance risks with New Jersey climate executive orders and EMP updates.
- 30% rewrittenRisks Related to Regulations and Litigation
We cannot predict the impact of any future revisions or changes in interpretations of existing regulations or the adoption of new laws and applicable regulations. Changes in regulations or the imposition of additional regulations could influence our operating environment and may result in substantial costs to us
Replaced natural gas operating hazards and pipeline risks with legal proceedings and environmental compliance costs.
- 21% rewrittenRisks Related to Our Markets
ITEM 1A. RISK FACTORS (Continued)
Replaced housing market customer growth risks with commodity and financial derivative hedging volatility.
Was: ITEM 1A. RISK FACTORS (Continued)
All 7 risk factors
Headings as the filing states them, in filing order.
Risks Related to Regulations and Litigation
- 01We cannot predict the impact of any future revisions or changes in interpretations of existing regulations or the adoption of new laws and applicable regulations. Changes in regulations or the imposition of additional regulations could influence our operating environment and may result in substantial costs to us30% rewritten
- 02ITEM 1A. RISK FACTORS (Continued)100% rewritten
Risks Related to Technologies
- 03ITEM 1A. RISK FACTORS (Continued)100% rewritten
Risks Related to Our Markets
- 04ITEM 1A. RISK FACTORS (Continued)21% rewritten
Risks Related to Credit and Liquidity
- 05ITEM 1A. RISK FACTORS (Continued)100% rewritten
Risks Related to Acquisition and Investment Strategies
- 06ITEM 1A. RISK FACTORS (Continued)New
Risks Related to Tax and Accounting Matters
- 07ITEM 1A. RISK FACTORS (Continued)New
Other New Jersey Resources 10-Ks
- FY2024 10-K risk factorsRisk factors section under review
Regulatory policy changes from the New Jersey Energy Master Plan threaten customer growth targets and pricing. Joint ventures and partnerships reduce management control over storage and transportation investments. Credit rating downgrades could prevent NJNG from passing increased costs to natural gas customers.
Filed Nov 26, 2024
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.