On July 5, 2022, Governor Kathy Hochul signed into law the Utility Thermal Energy Network and Jobs Act (the “Act”), a bill which amends New York State’s Public Service Law to authorize the State’s utilities to own and operate thermal energy networks, and which charges the State’s Public Service Commission (“PSC”) with initiating proceedings to support and regulate thermal energy network deployment.
Until now, New York State utilities interested in developing thermal energy networks have been frustrated by legal and regulatory barriers.… More