The electric industry is in transition. The 20th-century power system is unsustainable, both environmentally and economically. Rising energy bills, more frequent extreme weather, and the environmental imperative to reduce carbon emissions require us to reinvent how we produce, deliver, and consume energy. Meanwhile, technological innovation and increasing competitiveness of renewable energy resources, combined with aging infrastructure, extreme weather events, and system security and resiliency needs, are all leading to significant changes in how electricity is generated, distributed, managed and consumed. New York State is leading the way to ensure these trends benefit consumers, whose lives are so directly affected by how they procure energy.
The availability of reliable, resilient, and affordable electric service is critical to the welfare of citizenry and is central to New York’s economy. To ensure continuing economic growth and prosperity for New York, State leaders laid out an ambitious energy agenda for the State. The Public Service Commission (PSC) is playing an important role in crafting the significant regulatory changes needed to make the agenda a reality.
Under its “Reforming the Energy Vision” (REV) strategy, New York is actively spurring clean energy innovation, bringing new investments into the State and improving consumer choice and affordability. In its role, the PSC is aligning markets and the regulatory landscape with the overarching state policy objectives of giving all customers new opportunities for energy savings, local power generation, and enhanced reliability to provide safe, clean, and affordable electric service.
Regulatory changes under the REV initiative are promoting more efficient use of energy, deeper penetration of renewable energy resources such as wind and solar, wider deployment of “distributed” energy resources, such as micro grids, roof-top solar and other on-site power supplies, and storage. It is also promoting markets to achieve greater use of advanced energy management products to enhance demand elasticity and efficiencies. These changes, in turn, will empower customers by allowing them more choice in how they manage and consume electric energy.
ABOUT THE INITIATIVE updated: 01/25/2023 08:25:57 PM