MN SF1918

Expands energy forward pricing authority from state agencies to all government agencies including cities, counties, school districts, charter schools, and the University of Minnesota system.

Adds unleaded fuel to the definition of energy and includes options to buy or sell forward pricing contracts as permitted financial instruments.

Increases the maximum contract duration for forward pricing mechanisms from 24 months to 48 months from the trade date.

Requires government agencies using forward pricing mechanisms to establish written policies, procedures, and an oversight process including internal or external audits and annual reviews by an investment committee.

Repeals Minnesota Statutes sections 383B.1588 and 473.1293, consolidating energy forward pricing authority under section 16C.143 effective July 1, 2012.