For example, the 2009 US average price per therm () of electricity was $3.38 while the average price per therm of natural gas was $1.16. Using these prices, a heat pump with a COP of 3.5 in moderate climate would cost $0.97 to provide one therm of heat, while a high efficiency gas furnace with 95% efficiency would cost $1.22 to provide one therm of heat. With these average prices, the heat pump costs 20% less to provide the same amount of heat.