How much does it cost to heat and cool a 2,000 sq ft home in New Brunswick?

In New Brunswick (15.4¢/kWh via NB Power), a 2,000 sq ft home averages $1,022/year ($85/month) with a high-efficiency heat pump, $1,258/year with a natural gas furnace and central AC, and $3,143/year with electric baseboards.

Are heat pumps cheaper to run than gas furnaces in New Brunswick?

At New Brunswick's natural gas rate of $1.65/therm, the economic break-even electricity price for a COP 3.1 heat pump is 19.0¢/kWh. Comparing this against New Brunswick's residential electricity rate of 15.4¢/kWh determines annual operating savings.

New Brunswick Heating & Cooling Cost Calculator (2026)

2,000 Sq Ft Heat Pump Bill

$85/mo

NB Electricity / Gas Rate

15.4¢ / $1.65

15-Yr Savings vs Baseboard

+$28,215

New Brunswick Annual Heating & Cooling Bills by Home Size

In New Brunswick, a 2,000 sq ft home averages $1,022/year ($85/mo) using a cold-climate heat pump ($1,003/yr winter heating + $19/yr summer cooling), compared to $1,258/year with a natural gas furnace and $3,143/year with electric baseboards.

Home Size	Heat Pump (COP 3.1)	Gas Furnace + AC	Baseboard + Window AC	15-Yr Heat Pump Savings
1,000 Sq Ft	$511/yr ($43/mo)	$629/yr ($52/mo)	$1,571/yr ($131/mo)	+$12,300
1,500 Sq Ft	$766/yr ($64/mo)	$943/yr ($79/mo)	$2,357/yr ($196/mo)	+$20,265
2,000 Sq Ft	$1,022/yr ($85/mo)	$1,258/yr ($105/mo)	$3,143/yr ($262/mo)	+$28,215
2,500 Sq Ft	$1,277/yr ($106/mo)	$1,572/yr ($131/mo)	$3,929/yr ($327/mo)	+$36,180
3,000 Sq Ft	$1,533/yr ($128/mo)	$1,887/yr ($157/mo)	$4,714/yr ($393/mo)	+$44,115
3,500 Sq Ft	$1,788/yr ($149/mo)	$2,201/yr ($183/mo)	$5,500/yr ($458/mo)	+$52,080