Year-End Check-In Guide
If you are a regular reader of our newsletter, you will notice a common theme. We have your back.
At Aurora Energy Advisors, our top concern is meeting our clients’ energy-related needs. That includes being aware of critical can’t-miss deadlines, whether they are related to energy supply contracts, utility issues, or local laws.
With year-end quickly approaching, below we’ve aggregated upcoming “check-in” reminders so you can stay informed.
Local Law 95 – Letter Grades
Most buildings that benchmark under New York City’s LL84 will earn a score through the ENERGY STAR benchmarking platform. This score translates into a letter grade.
Under LL95, each year, all required buildings must print and post their grade in a conspicuous location near each public entrance by October 31.
Letter grades should be left in place until the next October. Each October 1, new grades become accessible via the DOB NOW Public Portal by clicking on Building Energy Efficiency Rating Label and searching by Borough, Block, and Lot.
Failure to post before the deadline results in a DOB violation and a $1,250 annual penalty.
Interruptible Gas Account Affidavits
If you have an interruptible gas account in Con Edison or National Grid territory managed by Aurora, we’ve already shared this with you — but here’s another reminder.
Both utilities require interruptible gas account owners to submit an annual affidavit affirming they are willing, able, and prepared to act during an interruptible cold-weather event.
The deadline for both utilities was October 1, with a grace period until October 31.
Daily fines are assessed until submission.
[Con Edison affidavit link]
[National Grid affidavit link]
Local Law 87 – Energy Audits
LL87 mandates that BBLs over 50,000 square feet must perform an energy audit and retro-commissioning measures every 10 years.
Upon completion, the engineer must submit a report by December 31 of the compliance year, determined by the last digit of the property’s block number.
For example, if your BBL (borough-block-lot) is 1-01234-5678, compliance is due by December 31, 2024.
Because of the scope of the audit, the entire process takes at least a year. If you haven’t signed up an engineer for LL87 yet and your due date is in 2024, it’s not too late.
The DOB offers two one-year extensions. If you contract with an engineer soon, there’s still time to apply and avoid the $3,000 penalty for first-time offenses and $5,000 per year thereafter.
Aurora can assist with getting started on this process.
Local Law 88 – Lighting and Submetering
LL88 (later amended by LL132 and LL134) requires buildings over 25,000 square feet to:
(i) meet lighting code in commercial and common spaces, and
(ii) separately meter commercial spaces over 5,000 square feet.
Though the final compliance report is due to the DOB by May 1, 2025, all work must be completed by December 31, 2024.
The first step is for an engineer or electrician familiar with the law to audit the building and identify any required upgrades. Then complete the work and have the auditor submit the final report.
Aurora can assist with this process.
Local Law 97 Article 321 Compliance
If your building falls into the Article 321 bucket of LL97, time is running low.
For a refresher on Article 321, qualifying criteria, required steps for compliance, and more, please refer back to our April newsletter.
In short, these buildings must complete 13 prescribed energy conservation measures by December 31, 2024, with the final compliance report submitted by May 1, 2025.
If you haven’t yet hired an engineer for this audit, Aurora can help.
If you won’t complete all measures by year-end, take necessary steps to remain eligible for a mediated resolution with the DOB — such as contracting with vendors to prove intent to comply.
Buildings will be fined $10,000 for failing to submit the report and another $10,000 for failing to prove compliance by deadlines.
Local Law 157 – Natural Gas Detector Installation
Under this law, natural gas alarms must be installed in:
Private dwellings
Class A multiple dwellings (condos, co-ops, multifamily rentals, one- and two-family homes)
Class B multiple dwellings (hotels, lodging houses, dormitories)
Compliance is due by May 1, 2025.
Market Analysis
Electricity
Still in the shoulder season, NYISO Zone J pricing stayed relatively stable in early October, as both cooling and heating demand were minimal. Aside from temporary upward pressure during Hurricane Milton, pricing hovered between $0.03–$0.04 per kWh.
Commodity prices are expected to remain seasonally low until winter demand picks back up.
Natural Gas
Following Hurricane Helene, NYMEX climbed near $3 per MMBtu due to Gulf Coast production impacts. Two weeks later, Hurricane Milton struck the same region, keeping prices in the high $2 range. As of mid-October, NYMEX has eased back to $2.60.
Crude Oil
After briefly dipping below $70 per barrel, crude oil rose nearly 10% through mid-October amid escalating tensions in the Middle East and fears of conflict spreading across the region.
💡 Mitchell’s Tip: Develop an LL97 carbon roadmap.
