SASKATOON (CP) -- Beginning next month, SaskPower customers will have a new way to reduce their power bills.

The Crown corporation has announced a partnership with MasterCard of Canada and CUETS, a Regina-based information processor, that has resulted in a new credit card being made available to Saskatchewan residents November 1.

The SaskPower PowerPoints MasterCard is a credit card that allows customers to accumulate points with every credit card purchase to be used toward reductions in SaskPower bills or catalogue merchandise.

A credit card purchase of $100 is equal to 100 PowerPoints redeemable in merchandise or a $1 reduction on a power bill.

Kelly Staudt, vice-president of customer services for SaskPower, said he expects that the program will not be a major financial success for the utility provider, but it's not a concern since the program was designed to show appreciation for their customers.

"We were looking at new and innovative products and services that we can offer our customers, and this was one where we can give some added value," Staudt said.

Staudt said SaskPower researched the possibility and approached MasterCard and CUETS, a member of MasterCard that provides all of the technical services and operational support for the card company.

The card is available to all Saskatchewan residents including those who are not billed through SaskPower.

However, those people will only be able to redeem their PowerPoints toward merchandise rather than a reduction on their power bills.

The PowerPoint MasterCard has an annual fee of $24 and offers the same benefits of a regular MasterCard including travel insurance and warranty insurance on purchases.