Energy Savings Demonstration act - Authorizes the Federal Energy Administrator to provide financial assistance to utility regulatory bodies and electric utilities for the development of demonstration projects designed to allocate costs of electric energy in a more equitable manner.

Authorizes financial assistance for studies of financing methods to assist consumers in jeopardy of losing access to electric power.

Authorizes appropriations of $10,000,000 for fiscal year 1977 and $15,000,000 for fiscal year 1978 to carry out the programs authorized by this act.