The temperature is now plummeting following a period of above-average weather, with minus 20 temperatures the norm headed into February.

More cold means you'll need to crank up that heater, which could draw a whole lot more power next month.

That increased power usage can also mean increased power bills for many people unless they find a way to heat more efficiently.

Owner of Mid-City Plumbing & Heating Kim Skjonsby details some of the new technology that can keep your costs down.

"All new furnaces have the ECM technology, so they are very low-consumption power-wise, compared to the old one. If you have an old PSC motor on your furnace you are going to be consuming probably $200-$300 more (power) per year."

Besides switching out a motor, there are a few different habits and non-furnace upgrades that can help keep the need to run a furnace down.

"Just maintaining your furnace properly, so that you're getting the best efficiency out of it. Obviously the normal things - limit your traffic in and out of the house, have the doors closed as soon as possible, upgrade insulation and house wrap and windows, and such."

Skjonsby also recommends a few extra actions when you're going through the extreme cold like we are now to ensure that furnaces are running properly.

"If they've got a high-efficiency furnace they're going to check their vent and intake pipes, make sure they're clear, check filters. Those are probably some of the most common things with the extended run times in the cold weather. Check drains off the furnace as well." 

He also recommends having some space heaters as a backup, in case your furnace stops working and you have to wait for a repair.