New York’s influential Reforming the Vision (REV) is not only redefining the regulatory model for the State of New York but has become a model for other states.  At this year’s Distributech Audrey Zibelman, who was confirmed as chair of the New York Public Service Commission (PSC) on September 3, 2013 and since then has presided over the development of NY REV presented her view of the tranformation the electric power industry is experiencing.   In her view it all starts with the customer who wants more choice, greater reliability and lower rates.  She is convinced that the technology is already there that will enable utilities to  achieve deep decarbonization with improved reliability and efficiency.  The key to all of this is changing the business model for the power network operators.  Distribution companies need to become platform companies (DSPs) that can provide the infrastructure for increasingly dynamic generation as well as demand.  The model has to provide compensation to DSPs who make the network more efficient.  The business model has to encourage innovation that enables transactive energy with technologies such as blockchain and the internet of things.  It has to encourage and attract younger people to the utility industry and encourage third party startups.  In her view being CEO of an electric utility is the best job in the world right now.  Unlike the telecom revolution which led to the digital divide, the electric power transformation has to avoid an energy divide and ensure that lower income folks are included and also experience the benefits of the new power grid.  Very interestingly she said she used to believe this was all going to happen in five to ten years, but with the accelerating momentum in technology and regulation she now believes the transformation of the utility is happening faster than that.  Quite a vision but the NY REV provides a regulatory model that is designed to enable this to happen. New York’s utilities are moving rapidly in this direction.