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An Important Update on the VHeat Program Fuel Buying Program
VSECU continues to work on finalizing details of the VHeat program for the 08-09 heating season. In a recent letter in the Times Argus, the program was criticized for working with a single supplier and the author questioned the value of participation in the VHeat program.
VSECU wishes to emphasize that our pledge to our members is to put forth our best effort to offer a program that is beneficial to as many members as possible. This year market conditions make the situation extremely difficult for all – VSECU, members and suppliers. So far, our decision to postpone pricing commitments seems appropriate since the cost of a barrel of oil has fallen from $147 to $115. We understand that anxiety is high but believe the prospects for our program have improved as time has passed.
Once the program details have been finalized members will have to decide for themselves if the VHeat offer is in their best interest. Participation in VHeat is voluntary. If you think it is in your best interests to act now rather than waiting for the VHeat offer, you should do so. VSECU cannot guarantee that it will have the lowest cost fuel available for heating your home this winter but we will have a program that helps.
Updated August 20, 2008
