Blue gas burner flame

July 27, 2017

FAQ About 360 Energy’s Load Balancing Services

Author:

360 Energy

In Ontario, large natural gas users can purchase their natural gas from either the default utility or from the market. Those who choose to purchase from the market occasionally need to engage in load-balancing. To learn more about why you should engage in load-balancing, check out this post.

Frequently Asked Questions

  1. What are your payment terms?
    At 360 we require payment from the buyer within 48 hours of the receipt of the invoice. Buyers are asked to sign a confirmation form agreeing to these payment terms and stating that if payment is not received within 48 hours the transaction will not occur with the utility and they are responsible for any penalties from the utility that may occur as a result of not load balancing.
  2. How can we pay within 48 hours if you are not set up as a vendor in our system?
    Most companies set us up as vendors in their systems ahead of time allowing us to transact quickly when the time is right and allowing them to wire the money to us in the 48-hour time frame. At 360 we have a general information sheet. This sheet can be provided at any time to facilitate the process.
  3. How quickly are buyers invoiced?
    Buyers are invoiced immediately upon receipt of the confirmation form.
  4. When does the seller receive their payment?
    Upon receipt of the money from the buyer the paperwork is sent to the utility for approval. Once the approval is received from the utility, usually within a 24-hour period, the money is wired or sent by couriered cheque to the seller providing the seller with almost immediate cash flow. Sellers are asked to sign a confirmation form agreeing to the price and volume to be sold and choosing by which method they would like to receive their payment.
  5. How do you handle the credit approval process?
    Our payment terms require payment within 48 hours or the transaction is void and will not occur thereby minimizing the risk for all parties involved. At 360 we go to great lengths to ensure that each party agrees to the payment terms we have laid out.
  6. What if I already have a company managing my supply?
    We can provide you with our quote to buy or sell your natural gas and afford you the ability to comparison shop. There is no long term contract required to transact through us.
  7. Will 360 pay us the money if the buyer does not pay within the 48-hour period?
    It is against company policy for 360 Energy to pay the money on behalf of the buyer. If we do not receive the payment from the buyer within the 48 hours the transaction does not occur. We ask sellers to give us a five-day commitment to finalize the transaction. If the money is not received from the buyer within the necessary time then the seller can move on to another deal.
  8. How is the price negotiated?
    At 360 Energy pricing is dictated by the market forces, which is driven by the buyer and seller requirements. We look at current market pricing and facilitate a price that we feel is better than what the utility or what a marketer would offer the buyer and seller. Pricing for Enbridge transactions are done at either Enbridge CDA or Empress depending on the seller. All pricing for transactions occurring on Union are a delivered to Ontario price using Dawn as the delivery point and therefore include transportation.
  9. How is 360 Energy compensated for the transaction?
    All negotiated prices are inclusive of 360 Energy’s transaction fees.
  10. Are references of your services available?
    References are available upon request. We have facilitated transactions between many end users including companies that are not customers of 360 Energy. We have references that would be happy to provide you with testimonials of successful transactions with us.