The General Assembly Substitute Bill No. 5634 aims to increase funding for energy efficiency programs in Connecticut for the fiscal year ending June 30, 2024. It mandates the Commissioner of Energy and Environmental Protection, in consultation with the Energy Conservation Management Board, to direct gas and electric distribution companies to expand their energy efficiency programs as outlined in the most recent Conservation and Load Management Plan. The bill allows the commissioner to transfer appropriated funds to these companies, provided they maintain detailed expenditure records. Additionally, any funds utilized for these programs will be classified as funding from the Conservation and Load Management Plan, and distribution companies are prohibited from recovering these funds through the conservation adjustment mechanism.

The bill also appropriates a total of twenty million dollars from the General Fund to the Department of Energy and Environmental Protection specifically for energy efficiency programs identified in the Conservation and Load Management Plan. This funding is intended to support the expansion of energy efficiency initiatives, thereby promoting energy conservation and sustainability within the state. The provisions of the bill will take effect on July 1, 2023, and introduce new sections into the current law.