NY S09459

Authorizes the New York Public Service Commission to develop performance-based regulation for electric and gas utilities, replacing traditional cost-of-service regulation with incentive and penalty structures

Establishes five key performance areas: reducing greenhouse gas emissions, expanding distributed energy resources and efficiency programs, enhancing service reliability and resiliency, offering flexible payment plans to reduce disconnections for low-income customers, and improving operations to reduce ratepayer costs

Requires any adopted framework to include clear performance standards, baselines, and objective metrics that are verifiable and achievable for measuring utility performance

Mandates the Commission consider impacts on ratepayer rates when designing financial incentives and penalties for utilities

Allows the Commission to establish reporting-only metrics without financial consequences, requiring utilities to file annual performance reports