Agreement Details

 

 




Terms of Agreement:

City of Fort Worth agreement is a 5 year term that began November 10, 2009 (1 year with 4 one year optional renewals)

State of Texas adoption of agreement is effective August 1, 2010. Starting September 1, 2010, the contract will be REQUIRED USE for all state agencies purchasing Bulk Motor Fuels.

Pricing:

State of Texas pricing structure is based on the Oil Price Information Service (OPIS*) Daily Published Benchmark, Unbranded Low for each location. This is the lowest published daily contract pricing posted with OPIS among all suppliers in a Rack City for unbranded product only.

Fuel prices offered through the agreement are based on the lowest unbranded published price in each market on the date of delivery, plus the applicable differential per terminal city. Freight charges from the terminal to the set destination will be included. Fuel price may be calculated based on the following formula:

Benchmark Index
+ Market Differential
+ Freight
+ Taxes (if applicable)
= Delivered Price

The pricing changes daily based on market conditions and changes. All refiners' pricing changes each evening after the markets daily closing. OPIS then gathers this information for publication from each individual market at 10 AM the following morning. TACenergy's pricing to the State of Texas will be available each day following the release of the daily OPIS data.

Example: If TX-DOT orders a load on Monday for Tuesday delivery, the price received will be the price published for Tuesday on the date of delivery. The difference in cost from Monday to Tuesday will be the difference in the market fluctuation for that day. If TX-DOT orders a load on Wednesday morning for an afternoon delivery the same day, they will receive the pricing set for Wednesday.

*OPIS is a benchmark pricing service that gathers all supplier pricing at all terminals in the U.S. on a daily basis and publishes it by regions, markets and terminal cities.

Delivery:

TACenergy is a licensed wholesaler.? Delivery to site/tank locations is made via common carriers. A list of carriers may be found by clicking HERE.

TACenergy will make considerable effort to use any and all possible small businesses to fulfill the needs of state agencies and local government entities.

Invoicing & Billing:

Custom detailed or summary invoices are available from TACenergy in various formats including Excel, Adobe PDF, Delimited Text and others.

Detailed mass data downloads of invoice information that can be used for analysis, reporting and ad-hoc queries are also available.

Custom built on-line "rich reporting" and operational breakouts are available.

Customer security is maintained down to the ship-to level.