新泽西能源 2023年度报告

We are committed to enhancing ourcustomers’ quality of life by meeting theirexpectations for reliability and valuein an environmentally responsible way—every day. THESE CORE VALUES DRIVE OUR COMMITMENT TO STAKEHOLDERS: •Safe and Reliable Service•Customer Satisfaction•Sustainable Growth and Innovation•Engaged and High-Performing Workforce•Social Responsibility•Superior Financial Performance Cover: Leaf River Energy Center’s salt cavern storage facilities play an important role in the energyevolution by providing reliable access to energy supply during peak-demand periods. 1.1GWpipeline of solar projectsunder contract, constructionor exclusivity. Financial Summary * Net Financial Earnings or NFE is a financial measurenot calculated in accordance with Generally AcceptedAccounting Principles (GAAP) of the United States asit excludes all unrealized and certain realized gainsand losses associated with derivative instrumentsand net applicable tax adjustments. NFE also excludescertain transactions associated with equity methodinvestments, including impairment charges, whichare non-cash charges, and return of capital inexcess of the carrying value of NJR’s investment.For further discussion and reconciliation to GAAP ofthis non-GAAP financial measure, see our fiscal 2024Report on Form 10-K. limited to, certain statements regarding NJR’s NFEguidance, future growth of NJNG’s customer base,investment programs and infrastructure investments,NJR’s environmental sustainability, decarbonization andclean energy goals, CEV projects under construction,contractor exclusivity,expansion of our solarfootprint, asset management agreements, emissionsreduction strategies, initiatives and targets, ourinvestments in infrastructure, low-carbon fuels andrenewablesand emerging technologies such asrenewable natural gas and hydrogen gas. margin as presented on a GAAP basis, as it excludescertain operations and maintenance expense anddepreciation and amortization. For further discussionand a reconciliation to GAAP of this non-GAAP financialmeasure, please see our fiscal 2024 report on Form10-K. ± See njrhomeservices.com for more information. Information Regarding Forward-Looking Statements —This report contains forward-looking statementswithin the meaning of Section 27A of the SecuritiesAct of 1933, as amended, Section 21E of the SecuritiesExchange Act of 1934, as amended, and the PrivateSecurities Litigation Reform Act of 1995. NJR cautionsreaders that the assumptions forming the basis forforward-looking statements include many factorsthat are beyond NJR’s ability to control or estimateprecisely, such as estimates of future market conditionsand the behavior of other market participants. Wordssuchas“anticipates,”“estimates,”“expects,”“projects,” “may,” “will,” “intends,” “plans,” “believes,”“should” and similar expressions may identify forward-lookingstatements and such forward-lookingstatements are made based upon management’scurrent expectations, assumptions and beliefs asof this date concerning future developments and theirpotential effect upon NJR. There can be no assurancethat future developments will be in accordancewith management’s expectations, assumptions andbeliefs or that the effect of future developments on NJRwill be those anticipated by management. Forward-looking statements in this report include, but are not Additional information and factors that could causeactualresults to differ materially from NJR’sexpectationsare contained in NJR’s filings withtheU.S.Securities and Exchange Commission(SEC), including NJR’s Annual Report on Form 10-Kandsubsequent Quarterly Reports on Form 10-Q,recent Current Reports on Form 8-K, and other SECfilings, which are available at the SEC’s website,http://www.sec.gov.Information included in thisreport is representative as of today only and whileNJRperiodically reassesses material trends anduncertainties affecting NJR’s results of operations andfinancial condition in connection with its preparationof management’s discussion and analysis of resultsof operations and financial condition contained inits Quarterly and Annual Reports filed with the SEC,NJR does not, by including this statement, assumeany obligation to review or revise any particularforward-looking statement referenced herein in lightof future events. † Represents the highest projected long-term NFEgrowth rate of 7-9% in our peer group. PeerGroup Companies include:Atmos EnergyCorporation, Black Hills Corporation, Chesapeake UtilitiesCorporation, National Fuel Gas Company, NiSourceInc., Northwest Natural Holding Company, ONE Gas,Inc., Southwest Gas Corporation, Spire Inc., UGICorporation. § As measured by leaks per mile.  ƆInvestments include SAVEGREEN®. For GAAP purposes,SAVEGREEN investments are included as part ofcash flows from operations. μUtility Gross Margin is defined as operating revenuesless natural gas purchases, sales tax and regulatoryrider expenses. This measure differs from gross NJR is helping lead the w