Forward energy pricing; authorizes any public body to use mechanisms for budget risk reduction. (SB539)

Introduced By

Sen. Toddy Puller (D-Mount Vernon)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Procurement; forward energy pricing.  Authorizes 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. Read the Bill »


Bill Has Passed


01/13/2012Presented and ordered printed 12104061D
01/13/2012Referred to Committee on General Laws and Technology
01/20/2012Impact statement from DPB (SB539)
01/24/2012Assigned GL&T sub: #2
01/30/2012Reported from General Laws and Technology with amendments (14-Y 0-N) (see vote tally)
02/01/2012Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/02/2012Read second time
02/02/2012Reading of amendments waived
02/02/2012Committee amendments agreed to
02/02/2012Engrossed by Senate as amended SB539E
02/02/2012Printed as engrossed 12104061D-E
02/03/2012Read third time and passed Senate (38-Y 0-N) (see vote tally)
02/03/2012Impact statement from DPB (SB539E)
02/13/2012Placed on Calendar
02/13/2012Read first time
02/13/2012Referred to Committee on General Laws
02/16/2012Reported from General Laws (20-Y 1-N) (see vote tally)
02/20/2012Read second time
02/21/2012Read third time
02/21/2012Passed House (98-Y 1-N 1-A)
02/21/2012VOTE: PASSAGE (98-Y 1-N 1-A) (see vote tally)
02/24/2012Bill text as passed Senate and House (SB539ER)
02/24/2012Impact statement from DPB (SB539ER)
02/24/2012Signed by Speaker
02/27/2012Signed by President
03/08/2012G Approved by Governor-Chapter 204 (effective 7/1/12)
03/08/2012G Acts of Assembly Chapter text (CHAP0204)


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 55 seconds.

Duplicate Bills

The following bills are identical to this one: HB211.