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Con Edison sees boost in oil-to-gas conversions after NYC Clean Heat regs

Consolidated Edison Inc. unit has helped to convert over 5,000 large buildings in New Yorkfrom oil to natural gas in the past four years, cutting emissions of more than400 tons of particulate matter, according to an April 4 news release.

The city passed its NYC Clean Heat regulations in2011, requiring owners of buildings to stop using No. 6 oil by 2015 andchanging over from No. 4 oil by 2030. The rules don't require a phase out ofNo. 2 oil, yet owners of nearly 2,000 of those buildings have opted to convertto the less expensive natural gas.

In order to meet the high demand for natural gas,Con Edison has been building out its delivery system. The utility has spentover $360 million on gas infrastructure in connection with the conversionprogram since 2011. It expects to spend an additional $400 million in the nextfour year to fund its continued expansion.