“Plan Season” is Here
As the weather warms up in Midcoast Maine, we’ve turned down the thermostat and dusted off the grill as we look forward to warmer days ahead. The last thing we want to think about is next winter, but now is the perfect time to plan ahead and budget for next winter’s heating bills.
The Advantage of a Price Protection Plan
June through August is referred to as “Plan or Contract Season”—a time when customers can sign up for a home heating budget plan with their energy provider. Signing up for a budget plan is a great way to spread out your heating costs into predictable monthly payments, making heating bills function like a regular utility.
Find a Plan That’s Right for You
Price Protection Plans offer several ways to pay for home heating fuel, as opposed to paying for each delivery separately. If you’ve never been on a plan before, we encourage you to compare which plans are available and determine which options fit your home best.
Pre-Pay & Fixed Price Plans
These plans provide the option to pre-pay for a set number of gallons at a fixed price that will not change during the plan year.
How it works:
- For each delivery, you’ll pay the same fixed price per gallon for the number of gallons purchased—regardless of whether market prices rise or fall. You will know the exact rate paid for the year while maintaining automatic fuel delivery.
Per-gallon price is only one factor to consider when evaluating plans. Be sure to inquire about any associated fees (such as price protection fees, delivery fees, or Hazmat fees). Budget plans are designed to provide predictability, convenience, and peace of mind.
Equal Payment Plans
Estimated annual heating costs are spread out in equal monthly payments over the plan year to reduce high winter bills. Providers typically offer both fixed and capped budget structures within equal payment schedules.
Service, Supply & Customer Satisfaction
Reliable fuel supply and service availability should always be evaluated when choosing a plan provider. Key factors to review include:
- Guaranteed Supply: Does your provider have the storage infrastructure to guarantee fuel supply during severe cold snaps or market volatility?
- Service Quality: Is the company backed by responsive local technicians and clear customer communication? Reviewing Google feedback and customer testimonials can provide insight before enrolling.
Cap or Downside Protection Plans
These plans establish a maximum cap price per gallon while allowing the rate to drop if market prices decline.
How it works:
- If market prices fall below the cap price: You pay the lower market rate.
- If market prices rise above the cap price: You never pay more than the locked cap rate.
Note: Downside protection typically carries an upfront fee to hedge the price cap.
Colby & Gale offers a range of options to fit your home and simplify seasonal budgeting. Plans include automatic fuel delivery to ensure tanks are monitored and filled promptly throughout the winter.
Download the Price Protection Comparison Chart (PDF)
Take a few minutes to compare payment options, or call the main office in Damariscotta at 207-563-3414 to speak with the Customer Service team.