Electric utilities; energy efficiency programs. Provides that any determination by the State Corporation Commission that an energy efficiency program is not in the public interest shall include with its final order the work product and analysis of all tests conducted by the staff of the Commission in making that determination. The measure provides that any utility petitioning the Commission for approval of one or more rate adjustment clauses for energy efficiency programs shall include a proposed budget for the design, implementation, and operation of the energy efficiency programs, which shall be approved only if the Commission finds that the proposed budget is reasonable and prudent. The measure provides that if the Commission reduces the proposed budget for a program, its final order shall include an analysis of the impact such budget reduction has upon the cost-effectiveness of the program. The bill requires that any rate adjustment clause approved for an energy efficiency program remain in effect until (i) the approved energy efficiency program is no longer cost-effective or (ii) the utility exhausts the approved budget for the energy efficiency program.