NY S05131

Directs the Public Service Commission to study the impact on consumers and perform a cost-benefit analysis of the Reforming the Energy Vision (REV) initiative.

Requires the study to include analysis of potential benefits and costs, impact on electric rates through taxes and fees, feasibility of alternative energy infrastructure approaches, and impact of replacing existing energy infrastructure.

Mandates the Public Service Commission report findings to the Governor, legislative leadership, and minority leaders of both chambers within one year of the act's effective date.

Prohibits imposing additional taxes, fees, rate increases, or other charges to fund the REV initiative until the study and report are completed.

Takes effect immediately upon enactment.