If we're looking at a high-efficiency gas furnace in the mid-90% range and a cold-climate heat pump that has a COP of roughly, on average, about 2.5, we see that the COP or efficiency of the heat pump as the weather gets cold begins to drop. It can drop to the point—some of them at around -25°C—where they're basically a resistance electric baseboard heater.
With natural gas, obviously the furnace does not have that same drop-off, and efficiency remains the same. The cost of the product, or the cost of the energy source, is at times four times cheaper, natural gas versus electricity. I think here in Ontario the delivered cost of natural gas to your home is approximately five cents per kilowatt hour, and your delivered electricity is around 18¢ or 19¢ per kilowatt hour. The efficiencies of a heat pump in cold weather situations don't justify the economics. You don't get that energy cost savings.