I don't mind the hot water on gas. Actually, I'm not sure yet, but I'm hoping it works out cheaper.

My power bill was $600 - $700 every quater. I was off peak 2, so water was heating twice a day. Pretty sure estimates say that would use about half your power bill.

If thats true, I was paying $300 - $350 every 3 months just for the hot water. I'm only paying $125 every 2 months so far with gas. I think thats pretty good

I won't know for sure til I get my bill though.