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2012 SESSION

• | print version

SB 539 Forward energy pricing; authorizes any public body to use mechanisms for budget risk reduction.

Introduced by: Linda T. Puller | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Procurement; forward energy pricing.  Authorizes, subject to available appropriation, any public body to use forward pricing mechanisms for budget risk reduction. Forward pricing mechanisms are contracts or financial instruments that obligate the public body to buy or sell a specified quantity of energy at a future date at a set price or provide the option to buy or sell the contract or financial instrument. Forward pricing mechanism transactions may be made only if (i) the quantity of energy affected by the mechanism does not exceed the estimated energy use for the public body for the same period, (ii) the period of the mechanism does not exceed 48 months, (iii) a separate account is established for operational energy for the public body, (iv) the public body develops written policies and procedures, and (v) the public body establishes an oversight process. This bill is identical to HB 211.

FULL TEXT

• 01/13/12  Senate: Presented and ordered printed 12104061D  pdf | impact statement
• 02/02/12  Senate: Printed as engrossed 12104061D-E  pdf | impact statement
• 02/24/12  Senate: Bill text as passed Senate and House (SB539ER)  pdf | impact statement
• 03/08/12  Governor: Acts of Assembly Chapter text (CHAP0204)  pdf

AMENDMENTS

• Senate amendments

HISTORY

• 01/13/12  Senate: Presented and ordered printed 12104061D
• 01/13/12  Senate: Referred to Committee on General Laws and Technology
• 01/24/12  Senate: Assigned GL&T sub: #2
• 01/30/12  Senate: Reported from General Laws and Technology with amendments (14-Y 0-N)
• 02/01/12  Senate: Constitutional reading dispensed (39-Y 0-N)
• 02/02/12  Senate: Read second time
• 02/02/12  Senate: Reading of amendments waived
• 02/02/12  Senate: Committee amendments agreed to
• 02/02/12  Senate: Engrossed by Senate as amended SB539E
• 02/02/12  Senate: Printed as engrossed 12104061D-E
• 02/03/12  Senate: Read third time and passed Senate (38-Y 0-N)
• 02/13/12  House: Placed on Calendar
• 02/13/12  House: Read first time
• 02/13/12  House: Referred to Committee on General Laws
• 02/16/12  House: Reported from General Laws (20-Y 1-N)
• 02/20/12  House: Read second time
• 02/21/12  House: Read third time
• 02/21/12  House: Passed House (98-Y 1-N 1-A)
• 02/21/12  House: VOTE: PASSAGE (98-Y 1-N 1-A)
• 02/24/12  Senate: Enrolled
• 02/24/12  Senate: Bill text as passed Senate and House (SB539ER)
• 02/24/12  House: Signed by Speaker
• 02/27/12  Senate: Signed by President
• 03/08/12  Governor: Approved by Governor-Chapter 204 (effective 7/1/12)
• 03/08/12  Governor: Acts of Assembly Chapter text (CHAP0204)