New Jersey Resources Corporation operates a diversified energy business through four main segments: NJNG, a regulated natural gas utility serving approximately 589,000 residential and commercial customers across New Jersey counties; Clean Energy Ventures, which develops and operates commercial solar projects generating revenue from electricity and renewable energy credit sales; Energy Services, which markets natural gas and manages transportation and storage assets across North America, earning margins on price differentials; and Storage and Transportation, which owns and operates natural gas infrastructure including salt dome storage and interstate pipeline assets. The company generates revenue through a mix of regulated utility rates (NJNG), market-based electricity and renewable credit sales (CEV), natural gas trading margins and asset management fees (ES), and tariff-based transportation and storage fees (S&T), with a capital structure combining equity and debt financing.