As technological innovation, increased customer generation, aging infrastructure, and extreme weather events change and challenge the electric industry, the state of New York is gaining national recognition with its innovative “Reforming the Energy Vision” (REV) initiative. At the core of the project is the principle that power supply must be reliable, resilient, and affordable for consumers. At the EUCI “Utility 2.0” conference, Richard Sedano described how the state is finding success with the REV proceeding by focusing on value, markets, rates, planning, performance, and cost, and by exploring the relationships between these processes. Driving the initiative is Governor Andrew Cuomo, who has tasked the New York Public Service Commission with the important role of laying the regulatory foundation for modernizing the state’s electricity industry. As part of a broader transformation program in New York, the ambitious regulatory and market reforms aim to promote energy efficiency, increase the penetration of renewable energy resources, enable wider deployment of distributed resources, improve reliability, reduce carbon emissions, and empower customers to take an active role in managing their energy consumption.