New York Adopts New Revenue Model for Electric Utilities under REV

On May 19, 2016, the New York State Public Service Commission (NY PSC) issued an order adopting a framework for a ratemaking and utility revenue model under the Reforming the Energy Vision (REV) initiative (Case 14-M-0101). The Order is a major step forward in providing a framework for utilities to generate revenue as distributed system platform (DSP) providers under REV. Utilities will be required to develop retail markets for DER, such as solar, geothermal, wind, fuel cells, combined heat and power, battery storage, energy efficiency, and other advanced energy services.