Bill Summary: HB 5438

• Directs gas and electric distribution companies to expand energy efficiency programs under the Conservation and Load Management Plan for fiscal year 2025 using appropriated funds from the Department of Energy and Environmental Protection.

• Requires distribution companies to maintain detailed expenditure records and prohibits them from recovering these funds through conservation adjustment mechanisms.

• Appropriates $145 million from the General Fund to the Department of Energy and Environmental Protection for energy efficiency programs identified in the Conservation and Load Management Plan for fiscal year ending June 30, 2025.

• Requires the Commissioner of Energy and Environmental Protection to study energy efficiency program performance and funding structure, including fund usage, demand reduction effectiveness, funding adequacy, cost-benefit analysis, and whether non-utility entities should manage program funds, with results due to the legislature by January 1, 2025.