Mayor Bloomberg and the Eastchester Heights Apartments complex

Mayor Michael Bloomberg announced today that more than $100 million in financing will be made available to property owners who perform clean heat conversions. Last year, the city banned the heaviest heating oils, which are still used in about 10,000 structures, and urged owners to switch to cleaner heating solutions by 2015. Bloomberg said the conversions would generate $300 million in construction activity. [more]

A Spectra Energy natural gas line

Construction of a controversial $1.2 billion natural gas line running under the Hudson was unanimously approved by the Federal Energy Regulatory Commission, the New York Times reported. The line, proposed by Houston developer Spectra Energy, will run from New Jersey into the West Village, moving 800 million cubic feet of gas a day into Consolidated Edison’s distribution system. Spectra claims that will lower energy costs for residents and businesses in the neighborhood. [more]

Apartment buildings throughout the city are reviewing their heating systems as they consider how to comply with new regulations issued by the Bloomberg administration in April, the New York Times reported. The new rules require that around 10,000 buildings using cheap, but “dirty,” No. 6 heating oil switch to No. 4 heating oil by 2014. But because the rules also state that buildings will either need to begin using No 2. heating oil or natural gas by 2030, some landlords are considering making the larger switch earlier in order to save money on multiple conversions. While the conversion process is expensive, natural gas costs about 30 percent less than fuel oil. … [more]