Not that uncommon for larger owners. It often done as a budget CYA. I you have Cap Ex money to then you buy extra. The use it or loose it budget method. Your screwed if you go over and screwed if you go under.
Heat pumps that far north? I'm in Montreal and we use them all the time. Although it can go as low as -30, we get a lot of days where it is warm enough for a heat pump to work fine. (A heat pump is good until about -12 or 14... then you switch to electric)