The U.S. Department of Energy will offer up to 315,000 barrels of heating oil from reserve storage sites in South Portland, Maine; Boston; and New Haven, Connecticut, through a competitive exchange announced Oct. 21.
Companies borrowing the oil must return the same volume plus a premium, with the reserve to be replenished ahead of the 2027-28 heating season. DOE says the exchange is intended to ease supply disruptions and heating costs.
Bids are due Oct. 27, and transfers or deliveries are scheduled to be completed by Nov. 13. The total covers the three storage sites; DOE limits the available volume at any one site to 150,000 barrels.
In an Oct. 21 statement, Gov. Janet Mills welcomed the authorization and said she hoped it would provide near-term price relief. Her office says approximately half of Maine homes use oil as their primary heat source.
Mills also renewed a request for Congress to increase funding for the federal Low-Income Home Energy Assistance Program. The reserve exchange is a fuel-supply measure, rather than a household assistance payment.
Maine's winter heating guide provides information on applying for heating assistance. Separate electric-bill discounts are available through the state's Low Income Assistance Program, which automatically enrolls households participating in Maine's federally funded Home Energy Assistance Program, according to the governor's office.