NY A10493

Defines "thermal energy" as piped non-combustible fluids for heating and cooling buildings, and "thermal energy networks" as utility-scale distribution infrastructure, bringing them under Public Service Law regulation for gas and electric corporations.

Requires the seven largest gas and electric utilities to submit 1-5 pilot thermal energy network projects within three months, with at least one pilot per utility territory in disadvantaged communities; the Public Service Commission must approve or modify projects within six months.

Directs the Public Service Commission to establish regulatory framework within two years covering ownership structures, fair market access rules, small-scale network exemptions, worker training programs, and third-party competition guidelines aligned with climate goals.

Mandates that thermal energy networks require labor peace agreements with unions, prioritize hiring transitioning utility workers facing job loss from gas system downsizing, and comply with prevailing wage and apprenticeship standards.

Requires quarterly public reporting on pilot project development, barriers, customer numbers, costs, job creation, and performance metrics on the Public Service Commission website.