As an expert in the field of energy economics, I'd like to provide a comprehensive answer to your question regarding the cost of electricity consumption. The cost of electricity is determined by several factors, including the amount of electricity used, the rate at which it is charged, and any additional fees or taxes that may apply.

The formula you've provided is a good starting point for calculating the cost of running a device or the total electricity consumption over a certain period. It's important to note that the formula is `wattage x hours used / 1000 x price per kWh = cost of electricity`. This formula helps in converting the wattage and usage time into kilowatt-hours (kWh), which is the standard unit for measuring electricity consumption, and then multiplying it by the price per kWh to find the total cost.

Let's break down the components of the formula:
- Wattage: This is the power rating of the device, measured in watts (W). It tells you how much power the device uses per unit of time.
- Hours Used: This is the total time the device is in operation during the billing period, usually measured in hours (h).
- Price per kWh: This is the cost of one kilowatt-hour of electricity. It's typically provided by the utility company and can vary based on location, time of use, and other factors.

Using the example you've given, if you have a 100-watt bulb that is left on continuously for 730 hours in a month, and the price per kWh is 15 cents (or $0.15), the calculation would be as follows:
\[ \text{Cost} = \left(\frac{100 \times 730}{1000}\right) \times 0.15 \]
\[ \text{Cost} = 7.3 \times 0.15 \]
\[ \text{Cost} = 1.095 \text{ USD} \]

So, the cost to run the bulb for the entire month would be approximately $1.095, which you've rounded to $10.95, indicating a possible misunderstanding or miscalculation. The correct calculation should yield a much lower cost, as shown above.

Now, to answer your original question about the cost of 1000 kWh of electricity, you would simply multiply 1000 by the price per kWh. If the price is 15 cents per kWh, then the cost would be:
\[ \text{Cost} = 1000 \times 0.15 \]
\[ \text{Cost} = 150 \text{ USD} \]

This means that for 1000 kWh of electricity at a rate of 15 cents per kWh, the total cost would be $150.

It's important to be aware that electricity rates can fluctuate and may include additional charges such as demand charges, service fees, or taxes, which could affect the final cost. Always check with your local utility provider for the most accurate and up-to-date pricing information.

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Here's the formula to figure the cost of running a device: wattage x hours used -- 1000 x price per kWh = cost of electricity. For example, let's say you leave a 100-watt bulb running continuously (730 hours a month), and you're paying 15--/kWh. Your cost to run the bulb all month is 100 x 730 -- 1000 x 15-- = $10.95.read more >>