Cost to heat a house in Toronto, ON
In Toronto, natural gas is cheaper to run: about $945 a year for a typical 2,000 sq ft home, versus $1,070 for a cold-climate heat pump ($125/year more). A heat pump can still make sense if you also need air conditioning, want lower emissions, or pair it with your furnace as a dual-fuel system for the coldest days.
Annual heating cost, 2,000 sq ft home (CAD)
Average insulation, high-efficiency furnaces, cold-climate heat pump with a seasonal efficiency (COP) of 2.7 in Toronto's climate. Space heating only.
Calculate your own costs
Edit energy prices
1 GJ ≈ 26.4 m³ of natural gas ≈ 9.48 therms. US gas bills in therms: $/therm × 9.48 = $/GJ.
Heating cost by home size in Toronto
| Home size | Heat pump | Natural gas furnace | Propane furnace | Heating oil furnace | Electric baseboard |
|---|---|---|---|---|---|
| 1,000 sq ft | $535 | $639 | $1,322 | $2,637 | $1,446 |
| 1,500 sq ft | $802 | $792 | $1,983 | $3,956 | $2,169 |
| 2,000 sq ft | $1,070 | $945 | $2,644 | $5,275 | $2,893 |
| 2,500 sq ft | $1,337 | $1,098 | $3,304 | $6,593 | $3,616 |
| 3,000 sq ft | $1,605 | $1,251 | $3,965 | $7,912 | $4,339 |
Month-by-month heating cost
Most of the bill lands in the coldest months. In January, a 2,000 sq ft home in Toronto needs about 12.7 GJ of heat.
| Month | Avg temp | Heat pump | Natural gas furnace | Propane furnace | Heating oil furnace | Electric baseboard |
|---|---|---|---|---|---|---|
| Jan | -3.5°C | $224 | $144 | $501 | $999 | $548 |
| Feb | -2.7°C | $193 | $129 | $439 | $877 | $481 |
| Mar | 1.7°C | $153 | $116 | $380 | $758 | $415 |
| Apr | 7.8°C | $84 | $81 | $231 | $462 | $253 |
| May | 14.5°C | $34 | $51 | $102 | $203 | $112 |
| Jun | 19.8°C | $10 | $35 | $32 | $63 | $35 |
| Jul | 22.5°C | $5 | $31 | $15 | $30 | $16 |
| Aug | 21.9°C | $6 | $32 | $18 | $36 | $20 |
| Sep | 17.9°C | $16 | $39 | $50 | $101 | $55 |
| Oct | 11.2°C | $58 | $66 | $165 | $329 | $180 |
| Nov | 5.2°C | $110 | $95 | $289 | $576 | $316 |
| Dec | -0.1°C | $176 | $125 | $422 | $841 | $461 |
Energy prices used
- Electricity: 15.57¢/kWh CAD — Hydro-Québec, Comparison of Electricity Prices in Major North American Cities 2025 (1,000 kWh/month, excl. taxes)
- Natural gas: $8.70/GJ (≈ 32.9¢/m³) plus ~$27.69/month fixed charge — Utility rate notices (FortisBC Jan 2026, Enbridge EGD Apr 2026, Liberty NB Aug 2026) and D-Central heating fuel index (CC BY 4.0)
- Heating oil: $2.59/L — Statistics Canada, Toronto price, September 2026, incl. taxes (prices by city)
- Propane: $0.95/L — Natural Resources Canada average heating oil $1.76/L and propane market estimate $0.95/L (Aug 2026, via Liberty Utilities NB) (estimate; no official city series)
Change any price in the calculator above to match your bill. Prices exclude sales tax.
Frequently asked questions
How much does it cost to heat a house in Toronto?
For a typical 2,000 sq ft home with average insulation, expect roughly $945 to $5,275 CAD per year depending on the system. The cheapest option at current prices is the natural gas furnace ($945/year).
Is a heat pump worth it in Toronto?
In Toronto, natural gas is cheaper to run: about $945 a year for a typical 2,000 sq ft home, versus $1,070 for a cold-climate heat pump ($125/year more). A heat pump can still make sense if you also need air conditioning, want lower emissions, or pair it with your furnace as a dual-fuel system for the coldest days.
How much does heating cost per month in Toronto in winter?
In January, heating a 2,000 sq ft home costs about $224 with a heat pump, $144 with natural gas and $999 with heating oil (CAD).
How cold does it get in Toronto?
The average January temperature in Toronto is -3.5°C (26°F). The city has about 3,519 heating degree-days a year (base 18°C).