Yup, that was all accounted for in what I read (well over a year ago, can't find the link...sorry). It was also for a northern climate country (possibly the UK, maybe Norway, memory is failing me here), so it was not "best case" for heat pumps. They took into account losses from generation, transmission, number of days so cold that it is acting as close to a resistive heater (100-120% efficiency), etc. It was pretty comprehensive.

It was from a "what is the best way to lower our use of fossil fuels" perspective, and acknowledged that switching out all boiler systems for heat pumps would be a high cost, but it wasn't really a study on the economics of it. Just a resource usage perspective.