Comment by manmal

Yes, and many places have high electricity costs. And btw, those are hard to foresee, so if you make a long term investment into a heat pump that is supposed to last 20-25 years, you have no idea how electricity prices will affect you. That's obviously true for gas and oil as well. I do concede that my original point was too blanket-y.

I have a heat pump btw., with COP 4.5 (below ground). Costs me EUR 2.5 - 3k per year to heat the house.