Yes, most electric fireplaces operate on 110/120V electric current and use approximately 1500 Watts per hour, at full power. Your utility charges you based our your Kilowatt usage per hour (kW/h). Multiply your cost per Kilowatt-hour by 1.5 to determine the maximum cost per hour to operate your electric fireplace. For example, 1500 Watts is equal to 1.5 kW/h. The flame effect also uses very little power and costs just a few cents per hour.
On average, electric is much cheaper than other forms of heating your home. Electric fireplaces are a terrific option for zone heating. By turning down your central thermostat and using your electric fireplace for supplemental heat in the room you are in, you can save money on your utility bill. For comparison; gas fireplace manufacturers regularly advertise average running costs of 30¢ per hour.