How much does an electric oven cost to run?
At the current average residential rate of 18.34¢ per kWh, a typical 2,400 W electric oven costs about 44¢ per hour — around $5.72 a month and $68.66 a year at 3 hours a week.
The rate and formula behind these numbers
kWh = watts × hours ÷ 1,000, and cost = kWh × rate. The yearly figure assumes the same weekly pattern all year (× 52); the monthly figure is the yearly one ÷ 12.
Electricity rate: 18.34¢ per kWh — the US EIA Electric Power Monthly for June 2026, the latest month EIA has published (US average across all states). Source: US EIA Electric Power Monthly. Checked September 2, 2026. It excludes the fixed monthly customer charge, which you pay regardless of use.
An oven element does not run continuously once the cavity is hot — the thermostat cycles it on and off, so a long steady bake costs less per hour than the rating plate implies. Where the money really goes is habit: preheating a full-size cavity for a single tray, and opening the door to check, which dumps heat the element then pays to replace. For small jobs a countertop oven or an air fryer heats a much smaller box and finishes sooner, which is the whole of its advantage.