MN HF3359

Authorizes Hennepin County Board of Commissioners to use forward pricing mechanisms for budget risk reduction on energy purchases (natural gas, heating oil, diesel fuel, unleaded fuel, and other non-electric energy sources).

Forward pricing mechanism is defined as either a contract or financial instrument obligating the county to buy or sell a specified amount of energy commodity at a future date and set price, or an option to buy or sell such a contract or instrument.

Limits forward priced energy to not exceed estimated energy usage for Hennepin County operations and restricts holding periods to a maximum of 24 months from the trade date.

Requires separate accounts for each operational energy type using forward pricing mechanisms and mandates written policies and procedures before the county exercises this authority.

Requires an oversight process including internal or external audit reviews, annual reports to an internal investment committee, and internal management controls.