Why Dead River Co. isn't just an oil company anymore
Energy is dynamic. So is the energy industry with a myriad of factors affecting everything from what's acceptable to what's available. Energy trends have taken us light years beyond where we could have envisioned back in 1936 when Dead River Co. purchased a small petroleum bulk storage plant, four gasoline stations and an Esso franchise — marking our entrance into the petroleum business.
Over the decades, consumers have found the next best thing in energy — from coal to electricity, wood to kerosene, heating oil to solar panels, natural gas to geothermal heat pumps — to the point now where we know that we need all these energy sources and technologies. In a cold-weather state like Maine, a diverse energy portfolio means greater choices and financial stability.
Volatility of fuel prices has led many consumers to reduce fuel consumption and look for either alternative or supplemental ways to heat their homes and businesses. There are many reasons (such as international events) that cause this volatility and are beyond the control of the local supplier.
To meet the growing demand for energy efficiency, conservation and cost-savings, we've needed to expand and diversify products and services. This is a positive change for both companies and customers.
Keeping abreast of energy trends will prove vital to continued growth and expansion. Dead River Co. is now more than just a fuel provider; we're an energy company focused on providing customers with energy-saving and home comfort services. In addition to traditional heating oil and propane services, we're beginning to expand into ductless air conditioning with heat pump technology, plumbing and water treatment services. In the Bangor market, we conduct energy audits, provide weatherization services and offer affordable home security systems. If companies don't recognize the 21st-century needs of today's customers, they're ceding that business to someone who will.
That's not to say that it's wise to follow every energy trend. Companies need to be savvy, to understand proven technologies and how to apply them to meet customer needs. They want energy solutions that are convenient and low-maintenance, and allow them to save not only money but time. Until the solid fuel/wood pellet energy industry finds a way to remove and dispose of ash without the active involvement of the consumer, and addresses other shortcomings, this alternative energy source, in our view, will remain a transitional solution only.
Because of the dynamics of the energy industry, companies need to be able to recognize what's the future and what's a fad. In a volatile pricing environment, for example, it's not good practice for energy providers (and their customers) to chase prices by constantly changing price protection programs to meet last year's price movements. Customers should look at and use programs that address volatility, regardless of the direction of price movements.
Energy, providers also need to offer customers the latest technological advancements and energy-saving choices to heat, cool and run their homes efficiently.
With greater emphasis on green energy, there is rapid and sustained growth in demand for propane throughout our coverage area in New England. From heating water to cooking to drying clothes to heating homes and businesses to fueling vehicles, propane is a versatile fuel source — predominantly produced in North America.
In some of the markets we serve, natural gas is an option for homes and businesses. We have licensed technicians who install natural gas equipment, as well as provide ongoing service, even though we are not a natural gas supplier. Our goal is to support customers by ensuring their homes and businesses are comfortable and energy-efficient — regardless of the fuel they choose.
We constantly embrace new technologies to improve efficiency and reduce overall energy costs. That diversification is exciting in that it allows the industry to grow, while allowing our customers to have choices and save in ways we never expected. Ductless heat pump technology is a prime example. Dead River Co. has widened its service portfolio while at the same time offering customers a viable choice in how they heat, cool and care for their homes.
It might seem counter-intuitive for an energy provider to be the one offering technologies and products that promote fuel conservation and energy efficiency. But we consider it our responsibility to help our customers save. We recognize that the same energy spikes that affect a home energy budget affect a company budget.
In recent years, Dead River Co. has acquired several similar, family-run companies that have found the costs of doing business increasing too rapidly. That trend might continue. In any industry, competition is healthy. It raises consumer expectations for service and value. But if the gradual consolidation continues, it's still up to us to meet consumers' expectations and we plan to do so.
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