NY S08546

Establishes a grid modernization surcharge collected by electric utilities from data centers with IT loads exceeding 10 megawatts, with "high-intensity data centers" defined as those with power-usage effectiveness greater than 1.3 or annual electricity consumption exceeding 50 gigawatt-hours

Allows data centers to receive partial or full surcharge reduction if they demonstrate through independent verification that at least 90% of their annual electricity consumption comes from renewable resources meeting additionality and deliverability criteria

Prohibits utilities from passing the surcharge to other customers; the surcharge applies only to covered data center accounts

Creates the Grid Modernization Fund, jointly overseen by the State Comptroller and Public Service Commission, to finance investments in system reliability, capacity expansion, and clean energy integration

Requires annual reporting by utilities on collections, expenditures, and system improvements, with the commission submitting public reports to the Governor and legislative leaders on fund disbursements and quantified outcomes including reliability indices and interconnection processing times