Skip to main content
Find a Lawyer

Minnesota Statutes Administration and Finance (Ch. 16A-16E) § 16C.143. Energy forward pricing mechanisms

Current as of January 01, 2023 | Updated by FindLaw Staff

Subdivision 1.Definitions. The following definitions apply in this section:

(1) “energy” means natural gas, heating oil, propane, diesel fuel, and any other energy source except electricity used in state operations; and

(2) “forward pricing mechanism” means a contract or financial instrument that obligates a state agency to buy or sell a specified quantity of energy at a future date at a set price.

Subd. 2. Authority. Notwithstanding any other law to the contrary, the commissioner may use forward pricing mechanisms for budget risk reduction.

Subd. 3. Conditions. Forward pricing mechanism transactions must be made only under the following conditions:

(1) the quantity of energy affected by the forward pricing mechanism must not exceed 90 percent of the estimated energy use for the state agency for the same period, which shall not exceed 24 months; and

(2) a separate account must be established for each state agency using a forward pricing mechanism.

Subd. 4. Written policies and procedures. Before exercising the authority under this section, the commissioner must develop written policies and procedures governing the use of forward pricing mechanisms.

Back to chapter list
Previous part of code Next part of code
Back to chapter list

Cite this article: FindLaw.com - Minnesota Statutes Administration and Finance (Ch. 16A-16E) § 16C.143. Energy forward pricing mechanisms - last updated January 01, 2023 | https://codes.findlaw.com/mn/administration-and-finance-ch-16a-16e/mn-st-sect-16c-143/

Read this complete Minnesota Statutes Administration and Finance (Ch. 16A-16E) § 16C.143. Energy forward pricing mechanisms on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Was this helpful?

Search all Minnesota Codes

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About the Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to find an attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

    More Options
    Copied to clipboard