One thing I can agree with some others on is $300 to heat an electric home AND provide electricity in your cold climate doesnt seem outlandish. But you being from the area might know better.
Your temps commonly go into the teens and lower teens. So to have a total cost of all power to your house of $300 a month seems reasonable to me. I mean an electric heated home is expensive anyplace in the country.
In reading all these posts I'm not understanding why anyone would think something is wrong with your system, your not complaining about lack of heat, your complaining about cost.(almost everyone does, except me
) our primary system uses gas with a second floor heat pump that rarely ever turns on because the first level is gas heat.
.... Ive been working adding insulation on a tricky part of the attic where the builder left it a little lacking on our 2006 home. Ive added a few bundles of batts to the floor and about 4 compressed packages of cellulose (which of course I uncompressed) as well as sealing some gaps with foam. All homes can use some improved insulation.
The main part of our home has around 12 inches of blown in cellulose and is very impressive but one end of the home has a bit complicated design and the insulation crew messed up when the house was built, its all good now, I got it figured out and almost complete what I wanted to do, I enjoy this stuff, buttoning up a house. Still our total cost of energy, gas and electric on our 3000 sq ft home is pretty much what you pay, actually I think less then what you pay.
Anyway, A 1950s home is not properly insulated in the attic, your area calls for at the very LEAST an R30 factor and being electric heat I am sure you should be closer to R 60 .
So, like I stated before, open up those attic vents, let the insulation breathe and get to work insulating. You should have approx at least 12 inch thick layer of insulation up there.
Also make sure no gaps are allowing attic air to the lower heated level. Google and watch youtube videos on the proper way to insulate attics.
(its hard to compare actual electric rates with others in the forum, because cost of electricity varies greatly from area to area, INCLUDING peak usage charges, always use KWH not dollars to compare.)
I would give those numbers but would be pointless since our house is heated 95% (or more) natural gas.
I actually bought a really good Infrared Thermometer to check for cold spots on the interior walls of where I was working. Again, as a hobby almost. I wanted a thermal camera but could not justify the cost for the limited work I was doing but, it is possible in your area that Home Depot might rent them, they dont in my area but it is on their website.
Anyway, this helped me identify a couple areas where cold was leaking ... these things sell real cheap but I bought an expensive one looking for quality, Im happy with it.
Again, in your case I would suggest a thermal camera but none the less, first pack that attic with a foot thick layer of insulation.
I bought this one from Home Depot - Click