Enacts the "nuclear energy deployment act"; directs the New York state energy research and development authority, in consultation with the public service commission and the department of environmental conservation, to promulgate rules and regulations to facilitate the construction and operation of advanced nuclear reactors and to review and evaluate certain existing regulations and regulatory actions taken concerning nuclear energy; directs the New York state energy research and development authority to create the position of nuclear energy coordinator; directs the New York state energy research and development authority to administer grants from the nuclear energy deployment fund; establishes the nuclear energy deployment fund.
Requires the owner or operator of a new data center to submit to the Public Service Commission a thermal energy network feasibility assessment that identifies potential off-site thermal loads within one mile of the facility; requires that new data centers be designed, constructed, and operated to capture and reuse waste heat generated by computing equipment through a thermal energy network.
Relates to small business energy assistance and advocacy services; establishes the small business energy assistance and advocacy services program within the division for small-business; authorizes the division for small-business to initiate complaints to the public service commission regarding gas and electricity and steam heat.
Aligns utility regulation with state climate justice and emission reduction targets; provides for a statewide affordable gas transition plan and utility home energy affordable transition programs; repeals provisions relating to continuation of gas service; repeals provisions relating to the sale of indigenous natural gas for generation of electricity.
Requires consideration of evidence relating to the economic impact of major increases of rates or charges upon consumers and the areas affected by such increases of rates or charges prior to approval of any such rates or charges; establishes minimum data to be considered by the public service commission relating to such economic impact.
Enacts the accelerate solar for affordable power (ASAP) act to set a new target for distributed solar energy capacity and direct the public service commission to advance reforms to the utility interconnection process to ensure timely and cost-effective integration of new distributed energy resources.
Directs the public service commission to conduct a full cost benefit analysis of the technical and economic feasibility of renewable energy systems in the state of New York and to compare such directly with other methods of electricity generation; makes certain changes relating to greenhouse gas emissions limits.
S 4429 requires gas and electric corporations in New York to dedicate 40% of their operating budget starting in 2026 to strengthen power systems against storms and outages. This includes hardening infrastructure, improving response times, and clearing trees near power lines to reduce outages. Corporations must submit quarterly reports to the Public Service Commission documenting compliance and include this evidence when requesting rate increases. The law aims to make power lines more resilient statewide, with the first reports due April 1, 2026.
S 5687 caps annual profit margins for public gas and electric corporations, as well as municipal utility companies, at 4% of their equity investment. The bill defines "profit margin" as the return on equity (calculated based on the commission-approved rate structure), directly limiting how much these utilities can earn from their operations. This policy change requires utilities to adjust their pricing or operations to stay within the 4% cap starting January 1st after the bill takes effect. The measure applies specifically to publicly regulated utilities, not private companies.
Enacts the "build to need act" to meet the state's electrification and climate related policy mandates; directs the public service commission to implement a grid planning process; makes related provisions.