If your thinking geothermal heat pump heating, then you might be correct.
If you're talking about resistive heating in cold weather and air-to-air
heat pump in mild weather, then you don't understand electric rates in
the northeast US.

I understand very little about the NE United States.

But I do understand that even resistance heat can be cost effective under
certain circumstances. Resistance heat truly provides heat ONLY when and
where it is needed.

Frankly, I have usually lived where electric rates are reasonable (partly
because the utilities have build and properly maintained nukes plants.)
With the Canada hydro power, the NE should have reasonably priced electric.
If the NE had a few more nukes ....