Is Your Heating Oil or Propane Fixed Price Contract Safe
Almost every season we hear about a heating fuel company that goes out of business, leaving its customers out in the cold. This situation is especially troubling for customers that pre-purchased their heating oil or propane since they will not receive the heating fuel for which they paid. And, they will have to buy more heating oil or propane at current market prices from another heating company.
How can you be sure that the heating company you give your money to will honor the contract or be in business through the heating season?
Some U.S. states require heating fuel companies to secure the heating fuel they sell to consumers through price protection programs. When a customer locks in 1,000 gallons of heating fuel at a fixed from a heating fuel company, that company should also lock in those gallons so they are available to the customer during the winter at the agreed upon price.
Be sure to do your homework!
If you have any concerns at all, you should find out who is behind the heating company and what their reputation is. Remember, it’s your money and you have the right to know it’s safe. Here are a few things to know before securing your contract:
- Are they a professional run company with a good reputation?
- How do they manage the risk of their price protection program?
- Have you checked the Better Business Bureau (BBB) for any complaints?
Irving Energy has honored its commitments to customers since 1924. lrving locks in its price for heating oil and propane when you lock-in with us. So you will never have to worry if your pre-buy contract is safe, because it is. If you have any questions and want to talk to a knowledgeable Irving representative, feel free to give us a call at 1.888.310.1924. We’re here to help.
View our heating oil and propane price protection plan and payment options. And, check out our other articles on price protection or answer the question: is heating oil and propane price protection right for me?
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Posted on February 1, 2011