SYSTEM AND METHOD FOR FINANCING PURCHASES OF CONSUMABLES, INCLUDING HEATING OIL OR PROPANE

• US 20130041815A1
• Filed: 07/27/2012
• Published: 02/14/2013
• Est. Priority Date: 08/10/2011
• Status: Active Grant

• Current Assignee: Philip J. Baratz
• Original Assignee: Philip J. Baratz
• Inventors: Baratz, Philip J.
• Granted Patent: US 8,825,546 B2
• Time in Patent Office: Days
• US Class Current: 705/40
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 50/06 Energy or water supply

Abstract

A system operable to monitor the consumption of a commodity at the premises of a consumer may comprise a billing system interfacing with suppliers and retailers of the commodity to facilitate the purchase and distribution of the commodity. The billing system may include a payment structure that can alleviate the burden of consumers having to pay for an entire delivery of the commodity—the consumer is only responsible for paying for the amount actually consumed during a time period at a prevailing price during that time—as well as significantly reduce a retailer'"'"'s working capital required to float the purchase of the commodity before it is paid by its consumers. Such a billing system and payment structure may eliminate or reduce the need for a retailer to borrow against receivables to pay for such purchases.

Claims

1. A system, comprising:

a processing module configured to;

track consumption of a commodity at a physical location of a consumer, the commodity being obtained from a supplier and delivered to the physical location by a retailer; and

a billing system communicatively connected to a retailer system over a first network connection and a supplier system over a second network connection, the retailer system being owned and operated by the retailer, the supplier system being owned and operated by the supplier, the billing system being configured to;

determine whether to reimburse or pay the supplier for a total amount of the commodity that the retailer has obtained from the supplier during a first time period; and

communicate to the retailer an amount of consumption of the commodity at the physical location of the consumer during a second time period, wherein the retailer bills the consumer for the amount of consumption of the commodity at the physical location of the consumer during the second time period.

2. The system of claim 1, wherein the billing system is further configured to:

determine a total amount of the commodity that the retailer has delivered to a set of consumers during the first time period; and

bill the retailer for a difference between the total amount of the commodity that the retailer has obtained from the supplier during the first time period and the total amount of the commodity that the retailer has delivered to the set of consumers during the first time period.

3. The system of claim 2, wherein the billing system is further configured to:

generate an invoice to the retailer for an aggregate amount of consumption of the commodity by the set of consumers during a third time period.

4. The system of claim 3, wherein the retailer bills the consumer for the amount of consumption of the commodity per a billing cycle and wherein the invoice from the billing system to the retailer for the aggregate amount of consumption of the commodity by the set of consumers during the third time period specifies a due date on or after the billing cycle for the consumer to pay the retailer is concluded.

5. The system of claim 1, wherein the retailer pays the supplier for the total amount of the commodity at a first price, wherein the supplier invoices the billing system for the total amount of the commodity at a second price, and wherein the billing system reimburses the supplier for the total amount of the commodity based on a difference between the first price and the second price.

6. The system of claim 1, wherein the commodity is heating oil, propane, a lube product, a fuel product, an agricultural product, or a product which trades on a commodity exchange.

7. The system of claim 1, wherein the billing system is further configured to provide the retailer with pricing data, the pricing data comprising one or more price points prevailing during the second time period, wherein the retailer bills the consumer for the amount of consumption of the commodity at a retail price prevailing during the second time period.

8. The system of claim 1, wherein the billing system is further configured to provide the retailer with pricing data, the pricing data comprising a retail price of the commodity on a particular day when the commodity is delivered to the physical location of the consumer, wherein the retailer bills the consumer for the amount of consumption of the commodity at the retail price of the commodity on the particular day.

9. The system of claim 1, further comprising an interface module configured to present a user interface on a device associated with the consumer, the device being communicatively connected to the system over a third network connection.

10. The system of claim 9, wherein the user interface comprises a price option for the consumer to lock into a particular price of the commodity, and wherein the retailer bills the consumer for the amount of consumption of the commodity during the second time period at the particular price of the commodity selected by the consumer via the user interface.

11. The system of claim 1, wherein the retailer system is one of a plurality of retailer systems communicatively connected to the billing system.

12. A method, comprising:

at a central system communicatively connected to a retailer system over a first network connection and a supplier system over a second network connection;

tracking consumption of a commodity at a physical location of a consumer, the commodity being obtained from a supplier and delivered to the physical location by a retailer, the retailer system being owned and operated by the retailer, the supplier system being owned and operated by the supplier;

determining whether to reimburse or pay the supplier for a total amount of the commodity that the retailer has obtained from the supplier during a first time period; and

communicating to the retailer an amount of consumption of the commodity at the physical location of the consumer during a second time period, wherein the retailer bills the consumer for the amount of consumption of the commodity at the physical location of the consumer during the second time period.

13. The method of claim 12, further comprising:

determining a total amount of the commodity that the retailer has delivered to a set of consumers during the first time period; and

billing the retailer for a difference between the total amount of the commodity that the retailer has obtained from the supplier during the first time period and the total amount of the commodity that the retailer has delivered to the set of consumers during the first time period.

14. The method of claim 13, further comprising:

generating an invoice to the retailer for an aggregate amount of consumption of the commodity by the set of consumers during a third time period.

15. The method of claim 14, wherein the retailer bills the consumer for the amount of consumption of the commodity per a billing cycle and wherein the invoice from the central system to the retailer for the aggregate amount of consumption of the commodity by the set of consumers during the third time period specifies a due date on or after the billing cycle for the consumer to pay the retailer is concluded.

16. The method of claim 12, wherein the retailer pays the supplier for the total amount of the commodity at a first price, wherein the supplier invoices the central system for the total amount of the commodity at a second price, and wherein the central system reimburses the supplier for the total amount of the commodity based on a difference between the first price and the second price.

17. The method of claim 12, further comprising providing the retailer with pricing data, the pricing data comprising one or more price points prevailing during the second time period, wherein the retailer bills the consumer for the consumption of the commodity at a retail price prevailing during the second time period.

18. The method of claim 12, further comprising providing the retailer with pricing data, the pricing data comprising a retail price of the commodity on a particular day when the commodity is delivered to the physical location of the consumer, wherein the retailer bills the consumer for the amount of consumption of the commodity at the retail price of the commodity on the particular day.

19. The method of claim 12, further comprising presenting a user interface on a device associated with the consumer, the device being communicatively connected to the central system over a third network connection, wherein the user interface comprises a price option for the consumer to lock into a particular price of the commodity, and wherein the retailer bills the consumer for the amount of consumption of the commodity during the second time period at the particular price of the commodity selected by the consumer via the user interface.

20. A computer program product comprising at least one non-transitory computer readable medium storing instructions translatable by a central system, the central system being communicatively connected to a retailer system over a first network connection and a supplier system over a second network connection, the instructions when translated by the central system cause the central system to perform:

tracking consumption of a commodity at a physical location of a consumer, the commodity being obtained from a supplier and delivered to the physical location by a retailer, the retailer system being owned and operated by the retailer, the supplier system being owned and operated by the supplier;

determining whether to reimburse or pay the supplier for a total amount of the commodity that the retailer has obtained from the supplier during a first time period; and

communicating to the retailer an amount of consumption of the commodity at the physical location of the consumer during a second time period, wherein the retailer bills the consumer for the amount of consumption of the commodity at the physical location of the consumer during the second time period.