City of Gainesville - File #: 190063.

• File #: 190063.
• Version: 3
• Type: Staff Recommendation
• Status: Filed
• File created: 6/7/2019
• In control: General Manager for Utilities
• On agenda: 9/5/2019
• Final action: 9/5/2019
• Title: Gainesville Regional Utilities Energy Risk Management Hedging Program Follow-Up Presentation (B)

Date	Ver.	Action By	Action	Result
9/5/2019	3	City Commission	Heard
6/20/2019	1	City Commission	Approved as Recommended	Pass
6/13/2019	1	Utility Advisory Board

Title

Gainesville Regional Utilities Energy Risk Management Hedging Program Follow-Up Presentation (B)

Explanation

At the June 20, 2019 City Commission meeting, staff requested the City Commission authorize the General Manager or his designee to enter into a new agreement with a Futures Commission Merchant (FCM) after GRU’s then-current FCM ceased participation in the governmental entities segment of the futures market.  The Commission approved the request but asked questions regarding GRU’s internal hedging policy and requested that staff come back to a future meeting for discussion of that policy.

Staff made a presentation to the Utility Advisory Board on August 8, 2019 and return today to present to the City Commission.

Fiscal Note

None.

Recommendation

Hear a presentation from staff.