I belive it is Air Conditioning. A related intellectual curio of note, which may be instructive, is the brou-ha-ha surrounding the titular meaning of legendary hard-rock outfit AC/DC. While boffins have suggest rather lugubrious uses of the acronym, including 'After Christ, Devil's Children', and the like, the band insists that the appellation was culled rather prosaically from the lettering found on electrical equipment, which they insist means 'Alternating Current/Direct Current'. If (and only if) storied rockers AC/DC are correct, the 'AC' about which you query must stand for 'Alternating Current'.
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