Yes, it is possible that it may not pay for you.
It certainly depends on how low the temperatures in your area get and the nominal cost of electricity in your area. I and many others pay much less for electrical energy than what we pay for petrol and natural gas - so unlike in your case - block heaters often do make sense.
Nevertheless, we have been making this math for several decades both at a federal and provincial level and even today, the benefits far outweight the costs - particularly for vehicles with smaller engines. For the last 15 years we've been advocating the use of block heaters in order to get people to reduce the tendency to idle their vehicles and increase the urban winter pollution levels.
I believe Jordan was concerned about fuel economy and engine life. With these objectives in mind (plus a few others I mentioned) a block heater will certainly pay off for him as it does for most of us - especially if used strategically with a timer.
Cheers;
MSantos