Exactly right- we use natural gas, and having restricted ourselves to heating only the kitchen and family room for the last few winters, we're looking at replacing the kitchen window AC with a heat pump, and maybe adding a couple of baseboard electric heaters.
The two most inefficient means of heating......
I believe you are following a prudent course. Do you feel heating blankets are advised for sleeping in terms of keeping the bedroom heat down? What about a heat generating lamps in place of a conventional light bulb in the bathrooms?
Natural Gas (NG, NYMEX) Monthly Price Chart
Heating Oil (HO, NYMEX) Monthly Price Chart
With the current prices of natural gas being at near record levels during a very rough winter we may be looking a absolute record breaking levels if there are further disruptions of energy from the Persian Gulf this winter due to Iran (nukes).