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AEE Institute, ACE NY Hail New York PSC's Innovative Order to Modernize Utility Revenue Model

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AEE Institute, ACE NY Hail New York PSC's Innovative Order to Modernize Utility Revenue Model

Washington, D.C., May 20, 2016 — Today, Advanced Energy Economy Institute and its state partner in New York issued the following statement in response to the groundbreaking order outlining a new revenue model for electric utilities issued by the New York Public Service Commission (PSC). This order, which followed public comments submitted by numerous stakeholders, is a significant milestone in the ongoing NY Reforming the Energy Vision (REV) proceeding.

"This order details for the first time how utilities will be able to make money as they transition to a new role as distributed system providers," said Lisa Frantzis, SVP, Strategy at Advanced Energy Economy, a national business group affiliated with AEE Institute that has been an active participant in the proceeding. "New York is paving the way toward a modern electricity system that takes advantage of the latest advanced energy technologies to improve efficiency, expand the use of distributed energy resources, and offer new options for customers to meet their energy needs. Utilities need to have new ways to generate revenue in a changing electricity marketplace. This order provides a framework for utilities to thrive in their new role."

"The PSC's new Order is an important step forward as the REV process goes from innovative ideas to a new framework for utility earnings," said Anne Reynolds,
Executive Director, Alliance for Clean Energy New York. "We are watching REV closely to see how it provides new business opportunities for energy efficiency and renewable energy. We are impressed with New York's determination to remake the energy landscape."

Background Materials:

The NY PSC order is a key milestone in the broader NY REV proceeding. We covered key issues and dug into details throughout the process in these summaries.

About AEE and AEE Institute
Advanced Energy Economy (AEE) is a national association of businesses that are making the energy we use secure, clean, and affordable. AEE’s mission is to transform public policy to enable the rapid growth of advanced energy companies. The Advanced Energy Economy Institute is a nonprofit educational and charitable organization whose mission is to raise awareness of the public benefits and opportunities of advanced energy.

About ACE NY
The Alliance for Clean Energy New York is a broad coalition dedicated to promoting clean energy, energy efficiency, a healthy environment, and a strong economy for the Empire State, and is New York’s premier advocate for the rapid adoption of renewable energy and energy efficiency technologies. www.aceny.org 

Media Contacts: 
Monique Hanis, Director of Media Relations, mhanis@aee.net, 202-391-0884
Anne Reynolds, areynolds@aceny.org, 518-432-1405 (o), 518-248-4556 (m)

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