AC/DC for bisexual is indeed in Chambers. I imagine that it is rather derogatory these days and would not be used, but this puzzle is from some time ago.
You do need to know that I is the symbol for current (in the physics sense) for the full wordplay.
I stands for Current Intensity (C was already taken as the symbol for capacitance).
I recall my physics professor told us that his lab assistant was called Ivy Watts, I doubt this was true, but I’ve always remembered it for the formula IV = W.