Also out electric utility pushed through legislation so they can install smart meters and send our rates through the roof. Unless of course you only run your appliances at night.
Well, the smart meters with time of use rates will certainly screw you. With your numbers you get twice as many btus per $ with gas than with electric resistance heat. Of course, that doesn't take into account the COP of the heat pump running in the moderate temps which if it is above 2.5 is a savings. The problem I guess would be if there is really an ROI at those rates.
Originally Posted by SPBryant
7.03 cents /kilowatt hour
WOW, does that gas rate include distribution charges? If it's the total you pay per therm (or ccf) then you get almost 3 times the heat per btu with gas than with electric. If with a good COP on a heat pump it wouldn't be worth it.