This bill adds requirements for consumer contracts and pre-buy fees for home heating oil, kerosene, or liquefied petroleum gas. The bill requires that contracts for guaranteed price plans, prepayment, or other contracts for petroleum must be in writing and disclose the terms and conditions of the plan. The bill also requires that any solicitation for such a plan must also be in writing and disclose the terms and conditions, including any pre-buy fees or ancillary charges. The contract must also include the dealer's contact information and the contact information for the New Hampshire Department of Justice consumer protection hotline.

The bill also requires that contracts for the retail sale of home heating oil, kerosene, or liquefied petroleum gas must indicate the total amount of money to be paid by the consumer, the gallons committed by the fuel dealer to be delivered, the price per gallon, the payment terms, tank rental fee and other ancillary fees, the duration of the contract, and the remedies enforceable by the dealer against a non-performing consumer. The bill also adds requirements for contracts that require prepayment, including restrictions on advertising and solicitation, requirements for reimbursement of undelivered fuel and prorated pre-buy fees, and a clear explanation of how the dealer will meet the obligations of the contract. The bill also adds requirements for dealers to secure prepaid contracts, including through futures contracts, surety bonds, letters of credit, or liquid product inventory. The bill also requires dealers who offer prepaid contracts to register with the secretary of state and file an annual report demonstrating compliance with the requirements. Failure to comply with the requirements constitutes an unfair or deceptive act or practice.

Statutes affected:
Introduced: 339:79