Your Budget Plan Questions Answered
Summer is in full swing here in Southern Maryland! While you are soaking up the sun, home heating is probably the last thing on your mind. But what if you knew that now is actually the time to start planning for next winter? Signing up for a payment plan is a simple way to get your ducks in a row before cold weather returns.
Heating Oil Payment Plans Q&A
Here are the top questions answered about payment plans for heating oil customers.
Q: What are the benefits of a payment plan?
A: Payment plans give customers the opportunity to take control of their heating costs. Instead of leaving your bills to the mercy of the fuel market, you can secure a price or payment system that fits best with your goals. Payment plans help customers…
- Manage fuel costs easily
- Avoid stress during peak winter months
- Protect themselves from changing market prices
Q: What is a budget plan?
A: The EZ Pay Budget Plan is designed to make your heating bills easier to manage during the coldest months of the year. Instead of paying 80% of your annual heating costs in four or five months, a budget plan spreads that amount into 12 equal installments.
- Annual fuel use is multiplied by projected fuel price
- The cost is divided into 12 even payments
- You receive on regular monthly bill, even if you get more than one fuel delivery
Q: What is Oil Price Protection?
A: Oil price protection sets a “cap” on your heating oil price for the year. You pay this capped price, no matter how the market rate rises. If market rates fall below your capped price, you pay the lower price. A small fee is required to secure this protection. Want more details? Here are some more in-depth FAQs.
Q: Can a payment plan really help me save money?
A: Both the EZ Pay Budget Plan and Oil Price Protection options offer financial benefits. When you know what bill to expect every month or the limit of how high your price per gallon can be, you can save more money and plan better for other household spending.
Q: It’s the middle of summer—why should I sign up now?
A: Payment plan enrollment opens this time of year so that customers can secure their plan before temperatures start to drop. When fall sneaks up on us, you’ll be happy that you signed up in advance!