To amend the Public Utility Regulatory Policies Act of 1978 to establish a means to support programs for electric energy conservation and energy efficiency, renewable energy, and universal and affordable service for electric consumers.

Amends the Public Utility Regulatory Policies Act of 1978 to establish a National Electric System Public Benefits Fund, administered by the National Electric System Public Benefits Board to provide matching funds to States for the support of eligible public purpose programs.

Confers oversight responsibility over the Board upon the Secretary of Energy.

Requires each electric power generation facility owner or operator, as a condition of transmitting power to any transmitting utility, to contribute funds determined by the Board to be necessary to generate revenues in each calendar year equal to one-half of the aggregate cost of implementing certain public purpose programs.

Requires the Board to institute a rulemaking proceeding governing creation and administration of a Public Benefits Program.

Authorizes any State to establish one or more public purpose programs and apply for matching funds under the Public Benefits Program. Emphasizes State discretion to elect participation in such Program.

Expresses the sense of the Congress that such Program shall not replace or supersede any other existing programs that support or encourage conservation and energy efficiency, renewable energy, universal and affordable service, or research and development.