Price of electricity in Finland peaks at 2.35€/kWh today. Keeping my tiny granny cottage warm costs me over 50 euros for a single day. It's negative 25C (-13F) outside.
That massive spike of 50c/kWh at the left looks tiny compared to today even though that's already insanely expensive
Since it's a cold area, they're likely using a geothermal heat pump, which isn't affected by air temperature. It uses the ground for heat exchange rather than the air.
Definitely. I live in the San Francisco Bay Area where it doesn't get too hot nor too cold, but I do still need heating during winter, and occasionally air conditioning during summer (maybe for 3 weeks or so, sporadically turning on during the day).
I bought the cheapest heat pump I could find that would work with my existing Ecobee thermostat (a Gree Flexx), and even that one says it'll work down to -22F with a 1.25 COP
I've got solar panels, which made a heat pump a better choice than a new gas furnace.