Updated: March 2026
Market GuideUtility rates, compliance regulations, and benchmarking requirements for commercial real estate in New York City, New York.
Rising
Up 14% YoY driven by capacity charges and delivery surcharges
Carbon emission caps for buildings over 25,000 sqft with escalating penalties through 2030 and 2035 targets.
25,000 sqft
May 1, 2025 (first compliance period)
$268 per metric ton of CO2 over limit
Annual energy and water benchmarking via ENERGY STAR Portfolio Manager for covered buildings.
25,000 sqft
May 1 annually
Up to $500 per quarter for non-compliance
Lighting upgrades and sub-metering requirements for large buildings.
25,000 sqft
December 31, 2025
Varies by violation class
May 1, 2025 (first compliance period)
Local Law 97 - 25,000 sqft
May 1 annually
Local Law 84 / Benchmarking - 25,000 sqft
December 31, 2025
Local Law 88 - 25,000 sqft
Con Edison
Electric & Gas
National Grid
Gas
PSEG Long Island
Electric
Benchmarking is required
25,000 sqft
May 1 annually
Centralize bills, automate accruals, and stay ahead of Local Law 97 compliance across your NY portfolio.
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