Taxpayer Savings in Albuquerque Now Has Others Asking for Advice
August 2, 2013
Albuquerque, NM - Word is spreading nationally about the City of Albuquerque’s Fuel Hedge program, created by Mayor Richard J. Berry in July 2011. Now, two years after the program launched, it has saved taxpayers approximately $1.4 million, and other municipalities as well as media outlets are taking note. Just hours after an article from Government Fleet was posted online, the city received contact from a municipality in Oregon; seeking information on Albuquerque’s success.
Prior to every fuel hedge cycle an incredible amount of thought and research goes into determining where the cost of fuel will go. The Mayor initiated the program in an effort lock-in certainty and to avoid budgeting for an expensive and vastly fluctuating fuel market.
In the article Mayor Berry remembers back to when the city was first considering the forward-thinking approach, "We just felt that if we could lock in a price, we would meet two goals, locking in a price and providing certainty, and save the taxpayers money."
To read the entirety of the article, visit: http://www.government-fleet.com/news/story/2013/08/albuquerque-saves-more-than-1-4m-with-fuel-hedging-program.aspx