Environmental Defense Fund applauds the New York State Public Service Commission’s historic move to re-evaluate the regulatory framework governing utility companies and how the energy system is valued. The New York Public Service Commission initiated a proceeding to develop a new regulatory model for electric utilities, laying the groundwork for the emergence of a 21st century utility business model that takes into account new technology, climate change, and the need to reduce harmful carbon emissions.
“It’s time for the regulatory system to catch up with advances in clean energy, and New York is one of the first states to act. New York’s re-evaluation of the utility business model will spur a future in which solar and wind power and energy efficiency can deliver grid resilience and reduce pollution. This is a move of national significance and should reverberate across the country.”
EDF has been working with regulatory authorities and utilities across the country to ensure that a new business model for the energy system would enable companies like Consolidated Edison and National Grid in New York to pave the way toward a resilient, low-carbon energy future.
- Cheryl Roberto, Associate Vice President, Clean Energy at Environmental Defense Fund