Electric and natural gas utilities; energy efficiency goals.

Requires investor-owned electric utilities, cooperative electric utilities, and investor-owned natural gas distribution utilities to meet incremental annual energy efficiency goals. Electric utilities are required to implement cost-effective energy efficiency measures to achieve the goal of two percent savings by 2034 and thereafter, with interim goals that start at 0.25 percent for 2020-2021 and increase in biennial increments of 0.25 percent until 2034. Gas utilities are required to achieve the goal of one percent savings by 2034 and thereafter, with interim goals that start at 0.125 percent for 2020-2021 and increase in biennial increments of 0.125 percent until 2034. The utilities are required to submit energy efficiency plans with the State Corporation Commission (SCC). The SCC (i) shall order changes to a plan submitted by a utility that does not demonstrate that the utility will achieve incremental annual energy efficiency goals; (ii) shall require utilities to commence compliance efforts with the incremental annual energy efficiency goals during calendar year 2020, though it may adjust the goal for 2020 if appropriate to address a partial year of implementation; (iii) may design performance incentives that reward utilities for exceeding efficiency goals; (iv) shall require utilities to report annually to the SCC on their efforts and progress in meeting the incremental annual energy efficiency goals; and (v) shall submit reports regarding compliance with the requirements of the incremental annual energy efficiency goals every five years.