Newfoundland Power's Electrical Services Financing Plans are available to current residential customers of Newfoundland Power who own the premise for which the loan is required. Customers who are renting or have a rental purchase agreement are not eligible. Financing is available upon credit approval for many electrical products and services.
Those customers wishing to apply for the Energy Efficiency Loan Program (EELP) should select the appropriate technology from the list below. Low interest financing is available for Mini-Split, Multi-Split and Central Heat Pumps, Insulation, and Home Energy Assessments. Please be advised that in addition to Newfoundland Power's regular Customer Financing criteria, to qualify for the low interest financing you must meet the following additional requirements:
|Product or Service||Maximum Amount Financed||Maximum Term
|Electric Water Heaters||$1000 for most models
$1425 for long-life heaters with a minimum 15 year manufacturer’s warranty
|R-2000 Upgrades||$10,000||60 Months|
|Electric Heating Systems & Heat Pumps*||$10,000||60 Months|
|Heat-Recovery Ventilation Systems (HRVs)||$5,000||60 Months|
|Electric Fireplace and Mantles||N/A||60 Months|
|Service Upgrades||$10,000||60 Months|
|Digital & Programmable Thermostats||N/A||36 Months|
|Basement and Attic Insulation*||$5,000||60 Months|
|Home Energy Assessment*||$750||36 Months|
* Visit takeCHARGE to learn about limited time low-interest financing for heat pumps, insulation and Energy Assessments through the Energy Efficiency Loan Program.
If you want to avail of financing, your first step is to get a price quote on the products or services you desire. Next fill out the Newfoundland Power Loan Application or call a Customer Service Representative at 1-800-663-2802 and advise them you would like to apply for financing.
Once financing is approved, you will be asked to sign a loan agreement which will be forwarded to Newfoundland Power when the purchase or installation is complete.
Newfoundland Power pays the invoice directly to the retailer or contractor providing the product or service and the monthly finance amount is then added to your electricity bill.
Payments are made through your monthly electricity bill. Repayment schedules up to 60 months can be arranged (depending on the product financed). Loans may be repaid at any time without penalty. Please note these loans are not life insured.
Your payment will be based on the amount of your purchase and the interest rate at the time of purchase.
Please note if you terminate your account before the loan has been repaid in full, the remaining balance and term can be transferred to your new account. If you do not have another active account the remaining balance will become due on your final bill.