Pretty much. In the summer you don't have to run the water heater, though. I don't like dealing with frozen pipes so I bury what I can, insulate everything in the walls, run heat tape under HVAC foam insulation on all the supply lines from the storage tanks (and check every year to make sure the heat tape is working), and run a heater in the pump/pressure tank/filter room. Everything is just peachy at my house as long as the power is on. The power to the water system, including the necessary anti-freeze equipment, is redundant through a sub-panel which can be alternately powered with the backup diesel genset, all that being a contingency for the periodic ice storms we get.