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

In Northwest Territories (29.5¢/kWh via NTPC / Naka Power), a 2,000 sq ft home averages $3,337/year ($278/month) with a high-efficiency heat pump, $2,735/year with a natural gas furnace and central AC, and $10,331/year with electric baseboards.

Are heat pumps cheaper to run than gas furnaces in Northwest Territories?

At Northwest Territories's natural gas rate of $2.1/therm, the economic break-even electricity price for a COP 3.1 heat pump is 24.1¢/kWh. Comparing this against Northwest Territories's residential electricity rate of 29.5¢/kWh determines annual operating savings.

Northwest Territories Heating & Cooling Cost Calculator (2026)

2,000 Sq Ft Heat Pump Bill

$278/mo

NT Electricity / Gas Rate

29.5¢ / $2.1

15-Yr Savings vs Baseboard

+$101,310

Northwest Territories Annual Heating & Cooling Bills by Home Size

In Northwest Territories, a 2,000 sq ft home averages $3,337/year ($278/mo) using a cold-climate heat pump ($3,327/yr winter heating + $10/yr summer cooling), compared to $2,735/year with a natural gas furnace and $10,331/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	$1,668/yr ($139/mo)	$1,367/yr ($114/mo)	$5,165/yr ($430/mo)	+$48,855
1,500 Sq Ft	$2,503/yr ($209/mo)	$2,051/yr ($171/mo)	$7,748/yr ($646/mo)	+$75,075
2,000 Sq Ft	$3,337/yr ($278/mo)	$2,735/yr ($228/mo)	$10,331/yr ($861/mo)	+$101,310
2,500 Sq Ft	$4,171/yr ($348/mo)	$3,418/yr ($285/mo)	$12,914/yr ($1,076/mo)	+$127,545
3,000 Sq Ft	$5,005/yr ($417/mo)	$4,102/yr ($342/mo)	$15,496/yr ($1,291/mo)	+$153,765
3,500 Sq Ft	$5,839/yr ($487/mo)	$4,786/yr ($399/mo)	$18,079/yr ($1,507/mo)	+$180,000