We want to save you money and offer you peace of mind.
Your Home…Your Comfort….Your Way!
Just as all of our customers have different home heating needs, they each have different payment and budget needs as well. Wilcox Energy offers a range of price protection and payment plans to help fit your home heating costs into your family’s financial plans. You may choose any one of our plans for either Bioheat or Clean Burn Premium Surrephyre home heating oil.
To help you decide which program is right for you, you may now log into your account from the home page of this website 24 hours a day to view your account history, including deliveries & payments, as well as your service contract expenses for the past year. As you are comparing our different payment and purchase options, please do not hesitate to call our office if you have ANY questions.
Budget Plan with Price Cap Protection
12 equal monthly payments. Price per gallon is capped with downside protection.
Budget Plan with No Price Cap Protection
12 equal monthly payments based on estimated price per gallon.
Guaranteed Price Program with a Fixed Price
Purchase your oil upfront at a fixed price. Price will not go up OR down.
Guaranteed Price Program with Cap Price Protection
Purchase your oil upfront at a cap price. Price WILL go down if the market price goes down.
Prompt Payment Discount
Price fluctuates with the market. $.10 discount if paid with cash/check. $.05 discount is paid with credit card.
Capped Price Budget Plan
Highlights:
- 12 month program.
- Begins July 1st.
- Pay the same amount each month.
- Price cap protection.
- Your service contract payments may be included in your budget payments.
- Requires a non-refundable hedging fee (see below).
- Enjoy automatic delivery all year long.
Our Capped Price Budge Plan sets a maximum (cap) price per gallon cost for your estimated annual needs. This plan protects you against rising prices, but will adjust downward if the market price drops. We then spread your annual costs over 12 months. We will adjust for any credit or balances due at the end of the budget year (June). This plan is available to oil or Bioheat automatic delivery customers and requires an upfront hedging fee (see below) billed in July, but is payable as part of your monthly payment.
3 IMPORTANT THINGS BUDGET PLAN CUSTOMERS SHOULD KNOW
- Payments are due by the tenth of each month. Payments must be made each month. Budget accounts that are over 30 days in arrears will be removed from the plan. Charges at the current retail price will be due within 30 days after delivery.
- We pay interest on credit balances. Accounts with a credit balance will be paid interest at a rate of 3% per annum.
- Accounts must be on automatic delivery to be eligible. If you are currently on automatic delivery, this will continue whether or not you participate in the budget program. Written notice is required to discontinue automatic delivery.
What is a hedging fee?
When we offer our customers the protection of a capped price, we also charge what is known as a hedging fee. Many of you have asked, “What is a hedging fee, and why do I have to pay it?”
To offer you a capped price, also known as downside protection, we have to pay a premium for the same protection. The hedging fee is our cost to ensure the future maximum price while retaining the opportunity to pay a lower price should the market price drop. We get that protection through a combination of Futures and Options Contracts, bought on the commodities market. Unfortunately there is a cost for this service, and our hedging fees are applied to these charges. The hedging fee we require for the capped price program passes only a portion of these costs to you.
Retail Price Budget Plan
Highlights
- 12 month program
- Begins July 1st
- Pay the same amount each month (will be evaluated and potentially adjusted during the season)
- Rates fluctuate with the daily price of oil
- Your service contract payments may be included in your budget payment
- No hedging fee is requried (see below); however, there is no cap price protection
- Enjoy automatic delivery all year long.
With this plan we will estimate your annual oil usage based on your delivery history. We then compute your payment based on our expected average price per gallon. You pay the same amount each month, but your oil rate will fluctuate with the market. We reserve the right to evaluate your account during the year and make adjustments to your monthly payment if necessary. This adjustment may be as a result of a drastic change in the price per gallon, or in the weather.
Prepay Programs
Fixed Price
- One payment due in July.
- Guaranteed price protection.
- Fixed price does not go up or down regardless of market price throughout the year.
- Enjoy automatic delivery all year long.
Make one payment in July when the price, historically, is at its lowest, and you don’t need to worry about oil bills for the rest of the year! With Wilcox’s Prepay Program there is no hedging fees and we can pass any preseason discounts along to you. You will enjoy automatic delivery all year.
Cap Price
- One payment due in July.
- Guaranteed price protection with downside protection
- Your price will go down if the market price goes down, but will go no higher than the guaranteed price.
- Enjoy automatic delivery all year long.
Prompt Payment Discount
Highlights
- Rates fluctuate with the daily price of oil.
- Save 10 cents per gallon if you pay the invoice in full within 10 days of delivery by cash or check.
- Save 5 cents per gallon if you pay the invoice in full within 10 days of delivery by credit card.
Many of our customers prefer to pay the market price for each delivery as they come, instead of making payments all year long. These customers are comfortable with higher fall and winter payments, knowing that they will have minimal heating costs during the warmer months. Wilcox Energy is happy to offer these customers a discount when they pay promptly for their deliveries.
