September 1, 2004
Prime Rate Loans help customers save
by conserving energy while helping the environment
SaskEnergy, in partnership with its Network
Members and Natural Resources Canada (NRCan) announced today
the ENERGY STAR® Loan Event, a prime rate loan program available
to all homeowners wishing to upgrade their furnaces and boilers to
ENERGY STAR® qualified high-efficiency units.
See the Fact Sheet...
As part of SaskEnergy's comprehensive package of energy conservation services, the ENERGY STAR® Loan Event provides easily accessible financing through any of the 135 SaskEnergy Network Members across Saskatchewan. From September 1, 2004 to March 31, 2005, homeowners who wish to purchase a high efficiency furnace or boiler have the opportunity to finance up to $10,000 over a five-year term at prime rate - on approved credit.
With each high efficiency furnace or boiler installed, up to 2.2 tonnes of Green House Gas Emissions (GHGs) will be removed from the environment each year.
"The ENERGY STAR® Loan Event gives customers an opportunity to upgrade their furnaces or boilers and take advantage of the changes in technology to save energy and up to $570 on annual heating costs," said Doug Kelln, Senior Vice President, Distribution Utility, SaskEnergy. "We're proud to have our Network Members and Natural Resources Canada partnering with us, to provide consumers with real, tangible solutions."
Kelln said an additional benefit from the program for customers is knowing that they have made an environmentally friendly purchase.
The ENERGY STAR Loan Event is funded in part through Natural Resources Canada (NRCan). SaskEnergy and NRCan will equally share the customer's interest costs allowing them to borrow at prime. Partnering with organizations like SaskEnergy and building on existing programs enables NRCan to help Canadians improve the energy efficiency of heating equipment purchased throughout the country.
The Prime Rate in effect at the time of application will be fixed for the duration of the loan. Currently, the Prime Rate is 3.75%.
ENERGY STAR is an international symbol of energy efficiency, indicating the most energy efficient products available. To qualify for the ENERGY STAR label, natural gas furnaces must have an annual fuel utilization efficiency (AFUE) of 90% or higher. Residential boilers must have an AFUE rating of 85% or higher.
SaskEnergy's Network Members, along with other
energy saving tips are located at saskenergy.com.
For more information, please contact:
Senior Vice President
Corporate Affairs, SaskEnergy