Budget Plan customers can avoid large “surprise” bills by having a fixed monthly payment for their estimated fuel needs. Customers will be required to provide their estimated gallons per year usage and must purchase at least 300 gallons of fuel a year from Nantucket Energy in order to qualify for the Budget Plan.
To calculate their monthly payment, the customer's usage for the previous year is totaled and then divided by 11. Payments are made by the customer the first of every month based on the resulting calculation. In the twelfth month, Nantucket Energy reconciles the account with the remaining balance due. Accordingly, the Budget Plan formula is as follows: Usage /11 x price = monthly payment.
The Prompt Payment Discount will apply to Budget Plan customers. Provided they are purchasing at least 500 gallons of fuel per year, Budget Plan customers will receive electronic tank monitoring at no additional charge. A customer must also have a primary gas-fired system on their property such as residential heat, a pool heater or gas-fired hot water to qualify for the Budge Plan. Budget Plan accounts for cooking gas or gas dryers only will not be accepted.
Any credit remaining on a Budget Plan account at the end of the year will be applied only to credit for fuel from Nantucket Energy or the credit may be “rolled over” into a new Budget Plan for the following year. Credits on a Budget Plan account are non-refundable and non-transferable. Customers on the Budget Plan with less than twelve (12) months of payment history with Nantucket Energy will be required to maintain a major credit card on file with the office to ensure payment.
In recognition of the value we
place on our customers and their
prompt payment of invoices,
we will offer a $.10 per