Foundry & Forging calculator
Furnace Electricity Cost Calculator
Cost an electric furnace interval using measured average demand. Enter its duration, consumption tariff, separate demand allocation and accepted output.
What this calculator does
- Price measured furnace electricity and spread the expense over accepted castings or forgings.
Formula used
- Interval energy = measured average demand × runtime
- Consumption charge = interval energy × electricity rate
- Electricity expense = consumption charge + separate demand allocation
- Electricity per accepted part = electricity expense ÷ accepted parts
Inputs explained
- Measured Average Electric Demand: Average metered demand across the entered operating interval.
- Furnace Runtime: Interval duration used to average the measured demand.
- Consumption-Only Electricity Rate: Bill rate excluding separately allocated demand expense.
- Separate Demand Allocation: Documented demand expense allocated outside the consumption rate.
- Accepted Castings or Forgings: Accepted production attributable to the measured interval.
How to use the result
- Best suited to induction melting job Cost, electric furnace cost review.
- Connected nameplate power is not measured average demand. Fuel use and monthly peak demand attribution require separate records.
Current U.S. benchmarks
- As of Jul 2026, industrial electricity averages 9.8 cents per kWh across the U.S. (EIA), up 4.7% from a year earlier. State averages range widely, so plants should confirm against their own tariff.
- The producer price index for steel mill products stands at 381.162 (BLS, Aug 2026), up 23.4% from a year earlier. Quotes priced off last quarter's material cost miss this move.
- The U.S. has 3,569 primary metal manufacturing establishments employing about 354,911 workers (Census County Business Patterns, 2023).
Common questions
- Can I enter the furnace nameplate power? Only if it equals measured average demand over the whole interval. Full connected power multiplied by elapsed time generally overstates consumption when equipment cycles.
- What if my rate already includes demand? Enter that rate and zero separate demand expense. Otherwise split energy and demand consistently with the electricity bill.
- Should rejects be counted in accepted output? No, the incurred energy remains in total expense while the accepted count measures usable output. Rejected pieces do not dilute cost per accepted part.
- Does this include fuel for a hybrid furnace? No, it prices electricity only. Record fuel consumption and its matching tariff separately.
Related guides
Last reviewed 2026-10-06.