In Christchurch, heat pump electric hot water saves more money than gas in most scenarios. While gas can be cheaper than standard electric, heat pump systems are 3–4x more efficient and cost $200–$400/year less to run than gas continuous flow systems for the same household.
Based on Christchurch 2026 energy rates (electricity ~$0.32/kWh, natural gas ~$2.30/kWh):
Heat pump wins on running cost. Gas wins over standard electric, but both are beaten significantly by heat pump.
If you already have gas connected and high hot water demand: gas continuous flow is a solid choice. If you're starting from scratch or your cylinder is end of life: heat pump hot water delivers the best long-term value. The EECA rebate sweetens the deal further.