Thanks for responding! I still have a gas heater but I am just doing this exercise for when it is time to replace my heater. What Hydro pricing plan are you on? I am on ULO which has prices of about $0.03/kWh overnight? Assuming that I can put some sort of a switch on the HP I would happen to run it mainly during cheap power times. That also assumes that I don't lose too much heat when the pump is off.
The HP will be slow to heat up the pool, but I assume that if you keep it covered that maintaining the temp shouldn't be too hard. It will likely take many days to heat the pump up at the start of the season, but hopefully that is just a once a year issue. I like my pool at 86 while swimming, but I sometimes turn it down during the week when we don't swim much, if at all. I have had my pool for about 16 years but never had a solar cover until last year. In some ways I hate the cover as it is a pain to take on and off, but it does keep the heat in, plus helps to warm it up a bit during sunny days. Last year the temp would stay in the 80s even with the heater turned way down or off.
In terms of whether things get worse for NG - I guess that depends if PP gets elected in 18 months (highly likely) and if he does "axe the tax". He probably will, but you never know for sure.