GP meant that you are paying $5.80 for a therm's worth of electricity, so therefore electric and gas are the same cost at a COP of $5.80/$1.60 = 3.65. At a high

GP meant that you are paying $5.80 for a therm's worth of electricity, so therefore electric and gas are the same cost at a COP of $5.80/$1.60 = 3.65. At a higher COP electric is cheaper; at a lower COP, gas is cheaper. You can use that number when looking at a heat pump's datasheet to see which temperatures the heat pump would be cost effective for you.