Answer:
The correct option is the third option; Bill Guy, Ph.D, will be delivering a speech to the New York City Council.
Explanation:
A comma is the punctuation mark that indicates a smaller break during a sentence, unlike the period which indicates its end. Its use depends on several rules and factors.
In the particular example provided commas are used as parenthetical elements in order to add extra information to the sentence, in this case, Bill Guy's Ph.D title. Generally, when commas are used to add extra information to the sentence such information could be removed without changing its meaning.