Good Morning Murray
It might be worth you also looking at heat pump and solar hot water - the latter can be either electricity or gas boosted.
With ACT and Federal subsidies capital costs can be quite low, and future operating costs will be much lower than either gas or electric - say 25 - 33%.
Start you research with Office of the Renewable Energy Regulator (ORER) - Home Page and then the ACT equivalent.
Cheers
Graeme