Frequently Asked Questions

MONTHLY LINE OF CREDIT

A monthly line of Credit is The Equity's most popular option for customers. This allows customers to make charges over the course of a calendar month and then pay for those charges by the 12th day of the following month.
For example, if a customer receives a home propane delivery on January 4, uses the self-serve fuel pumps on January 15 and purchase motor oil on January 31. All three purchases would be due in full on February 12 to avoid late charges. This is the first line on the statement: Due MM/12/YY.

A Booking is a contract to lock in pricing and product. Bookings have an expiration date. Customers are not required to pay bookings, but unpaid booking prices are not guaranteed in-season.

An Invoice is for product that they have received or will be receiving. Customers are required to pay invoices. Invoices unpaid after their due date are subject to late fees (12th of the month) and finance charges (last day of the month).

A Statement is a summary of activity on a customer's account for the prior month. Customers are required to pay the balance by the due date. The statement balance unpaid after the due date is subject to late fees (12th of the month) and finance charges (last day of the month).

When you receive your statement in the upper righthand there will be a total amount due. If this amount is negative, it generally means there is a credit balance on your account. If you go to the end of your statement there will be a summary of accounts including current, 1-30, 31-60, over 60, over 90, unapplied, budget billing and prepay. Here you will be able to determine the amount due. Unapplied is a credit balance on account.

Statements are sometimes delayed due to the month ending on a weekend and federal holidays.
If the last day of the month falls on a Friday or Saturday, statements will be mailed on the following Monday or business day. New Year’s Day, Independence Day and Labor Day holidays generally delay the mailing of statements due to closure of the post office and our corporate office.
For these reasons, The Equity recommends My Farm Records to ensure prompt receipt of your statement when they are printed on the last day of the month in the form of an electronic copy.

• What is a Monthly Line of Credit?

• What is a difference between a Booking, an Invoice and a Statement?

• How do I determine what I owe when I receive a statement?

• When will I receive my statement?

• When is my payment due?

• What is a Late Charge?

• What is a Finance Charge?

• What is Delayed Billing?

What is a Level Payment Plan?

The Equity's Level Payment Plan (LPP) spreads your propane costs over the year (12 months) to avoid larger bills, late charges and fees at each fill. LPP runs from May through April of the following year. This is the preferred plan for individuals on a fixed income.
Your monthly payment is determined by a calculation of your average yearly usage and projected market price. This equalizes your propane gas bills to avoid peaks in times of higher consumption. The monthly payment may need to be adjusted in the spring depending on the market price fluctuation.

Is LPP available for Agriculture or Commercial use?

LPP is only available for residential use and to non-profits, like churches and places of worship.

How is the monthly LPP payment determined?

Your monthly payment is determined by a calculation of your average yearly usage for the past three years and projected market price. This equalizes your propane gas bills to avoid peaks in times of higher consumption. The monthly payment may need to be adjusted in the spring depending on the market price fluctuation.

When is payment due for an LPP Account?

Payment is due by the 25th of each month.
The recommended form of payment for LPP is automatic debit, or ACH, from your checking account. The Equity offers LPP withdrawal options of the 3rd, 12th, or 25th of each month.

Can I roll my LPP Account Balance in the next propane season?

All LPP Accounts must be paid in full by April 25.
Accounts with credit balances have the option to roll the credit into the next LPP calendar year or receive a check for the balance leftover.
Accounts that receive a late season fill, April, may call and speak with the Customer Care Team about their repayment options.

Are there any fees for participating in the Level Payment Program?

Accounts Paying by Check will be charged an annual service fee of $25.00.
Accounts Paying By Electronic Draft (ACH) are not charged an annual service fee.
Accounts with an Equity Lease Tank that uses less than 800 gallons in a 12 month period are charged an annual tank lease fee of $45.00.
If an "Out of Gas Safety Check" is required, it is $75.00 if performed Monday thru Friday. Any safety check performed on Weekends and Holidays is $150.00. The Equity encourages the Keep Full Program for minimal service disruption and to avoid out of gas fees.

Estimated price per gallon**	$2.423
Average Yearly Propane Usage	800 gals
Average Annual Propane Cost	$1,938.40
Average Bi-Annual Fill Up Cost	$969.20
Average Monthly LPP Payment	$165.00
Total of 12 LPP Payments	$1,980.00
Credit Balance	$41.60

**Based on 10 year average (10/2008 - 03/2019) US Residential Propane Price from https://www.eia.gov/

What is a Fixed Price Contract?

A fixed price contact allows a customer to lock in a fixed price on an agreed upon quantity from October through March.
A $ 0.05 per gallon discount applies, if the contract is prepaid at the time of contract acceptance.
Undelivered gallons are subject to penalties and fees.

What products are eligible for a Fixed Price Contract?

Standard fixed price contacts are available for Propane, #2 Clear Diesel, #2 Dyed Diesel, Clear Bio Diesel 11% and Dyed Bio Diesel 11%.

What is a Prepaid Contract?

A prepaid contract allows the customer to prepay for any energy product for the following year.
Undelivered gallons are subject to penalties and fees.

Are Sales and Motor Fuel Taxes included in the Prepaid Amount?

Due to changing tax rates, any applicable taxes are not included in the prepaid amount.
Taxes will be billed upon delivery.

What products are eligible for a Fixed Price Contract?

Standard fixed price contacts are available for Propane, #2 Clear Diesel, #2 Dyed Diesel, Clear Bio Diesel 11% and Dyed Bio Diesel 11%.

Why do you no longer offer Semi-Annual Fuel Billing?

Semi-Annual Fuel Billing has been converted to GOFlex Financing.
GOFlex still offers customer the convenience of deferring their fuel expenses without worrying about accuring late charges on their open trade account.