Forward energy pricing; authorizes any public body to use mechanisms for budget risk reduction. (SB539)
Introduced By
Sen. Toddy Puller (D-Mount Vernon)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
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 »
Outcome
History
Date | Action |
---|---|
01/13/2012 | Presented and ordered printed 12104061D |
01/13/2012 | Referred to Committee on General Laws and Technology |
01/20/2012 | Impact statement from DPB (SB539) |
01/24/2012 | Assigned GL&T sub: #2 |
01/30/2012 | Reported from General Laws and Technology with amendments (14-Y 0-N) (see vote tally) |
02/01/2012 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
02/02/2012 | Read second time |
02/02/2012 | Reading of amendments waived |
02/02/2012 | Committee amendments agreed to |
02/02/2012 | Engrossed by Senate as amended SB539E |
02/02/2012 | Printed as engrossed 12104061D-E |
02/03/2012 | Read third time and passed Senate (38-Y 0-N) (see vote tally) |
02/03/2012 | Impact statement from DPB (SB539E) |
02/13/2012 | Placed on Calendar |
02/13/2012 | Read first time |
02/13/2012 | Referred to Committee on General Laws |
02/16/2012 | Reported from General Laws (20-Y 1-N) (see vote tally) |
02/20/2012 | Read second time |
02/21/2012 | Read third time |
02/21/2012 | Passed House (98-Y 1-N 1-A) |
02/21/2012 | VOTE: PASSAGE (98-Y 1-N 1-A) (see vote tally) |
02/24/2012 | Enrolled |
02/24/2012 | Bill text as passed Senate and House (SB539ER) |
02/24/2012 | Impact statement from DPB (SB539ER) |
02/24/2012 | Signed by Speaker |
02/27/2012 | Signed by President |
03/08/2012 | G Approved by Governor-Chapter 204 (effective 7/1/12) |
03/08/2012 | G Acts of Assembly Chapter text (CHAP0204) |
Video
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.