Senate Bill No. [insert bill number] establishes the "Montana Energy Conservation Efficiency Standards Act," which mandates investor-owned utilities in Montana to implement energy conservation programs aimed at achieving specific energy savings targets. The bill defines "energy conservation investments" and outlines the requirements for utilities to submit energy conservation assessments to the commission, which must be conducted by independent entities. These assessments will estimate achievable cost-effective energy conservation and must be updated every two years. The bill also provides the commission with rulemaking authority to implement these standards and ensure compliance.

Additionally, the bill includes provisions for cost recovery and incentives for utilities that exceed established energy conservation targets. The commission is tasked with allowing timely recovery of costs associated with energy conservation activities and creating performance-based incentives that share the economic benefits of energy conservation between utilities and their customers. The act is designed to enhance grid reliability, reduce electricity costs, and promote sustainable energy practices in Montana, with an immediate effective date upon passage and approval.