A method for estimating electricity consumption cost based on data received from an electricity meter

603246 Disclosed is a device for estimating electricity consumption cost of electrical appliances in standby mode. The device includes a database for storing electricity consumption data at time intervals, and a processor. The processor is configured to retrieve electricity consumption data for a plurality of time intervals having the lowest values from a predetermined total number of time intervals for a single day. The processor is configured to then calculate a daily energy usage of electrical appliances in standby mode by calculating an average energy usage value for the plurality of time intervals having the lowest values in a single day. This average is then multiplied by the predetermined total number of time intervals for the single day. The processor is configured to perform this calculation for each of a predetermined number of previous days and to calculate an average daily energy usage of electrical appliances in standby mode by averaging the calculated daily energy usage of electrical appliances in standby mode for the predetermined number of previous days. This standby data can be used to estimate a component of an electricity bill that is due to standby usage and present this to a user on a display of the device.