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Soapm-- When I bought the house 19 years ago, the rental fee ($7/month) was offset by a $7.50 credit for allowing the electric company to control the hours of operation of the water heater. Over the years, the rental fee has crept up and at some point, the credit disappeared. So it's not quite...

Very good questions, Reach4. When I bought the house, Mass Electric handled the water heater rental. The previous owners had set up a control agreement w/ Mass Electric to only operate the water heater during specified hours, resulting in a monthly credit. So I *thought* the electricity used...

Ouch, that is not encouraging...but not surprising either. Maybe I should just sell the house before the water heater breaks!

We have an ancient 100 or 120 gallon cement-lined electric water heater which we rent from the electric company. I am trying to decide if it is worth replacing it (I don't think it will ever die…must be 35 years old by now), and if so, how to get the sucker out of the basement (up stairs...