How to calculate firing costs: Bridges Pottery

I am a regular subscriber to an excellent site for clay artists. I was intrigued by  Bridges Pottery and this video which had so many great studio applications I felt a desire to share it so that others could benefit from this artists work, techniques and tips:

From Patricia Bridges blog [  ]:

How to calculate firing costs

Cost to Fire Kiln

I ran a glaze firing and have calculated the costs on my new kiln. Always helpful to know what I am spending and where.
To calculate my costs….
My new Excel Select Fire 7 cubic. ft kiln is 11520 Watts or 11.52 kilowatts
Multiply kw x hrs fired. I also then apply a % based on that cone I fire to since I am not using the full power – about 50% for a bisque and 65% for glaze. This is an estimate- Multiply that x cost of kw (.21). Expensive electric on Long Island:(

Looks like this….

11.52 x .5 =5.76
5.76 x 7=40.32
40.32 x .21 = $8.47

11520 /1000 = 11.52kw
11.52 x .65= 7.488
7.488 x 8.5 = 63.648
63.648 x .21 = $13.37

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Yours in clay,