Multi-cookers do exactly what they say on the tin; they provide multiple ways of cooking something so that you can make your dinner exactly how you want it. But the question is, how much does it cost to run a multi-cooker? Will the best multi-cooker save you money in the long run compared to if you were using a traditional oven?

From 1st April, Ofgem is increasing the energy price cap again, however, the government has announced that it is extending the energy price guarantee by another three months.

However, energy bills are still much higher than they've been in years so this makes now a good time to invest in potential energy-saving appliances, such as multi-cookers. But first, it's helpful to know exactly how much electricity does a multi-cooker use, and how much does it cost to run a multi-cooker.

How much does it cost to run a multi-cooker?

We've done the maths for you and come up with some up-to-date figures on how much does it cost to run a multi-cooker. Keep reading to find out whether investing in one of these devices will help keep those energy bills down.

How much electricity does a multi-cooker use?

To work out the answer to how much does it cost to run a multi-cooker, it's helpful to firstly look at how much electricity does a multi-cooker use.

'Multi-cookers typically use from 700 W to 1800 W of power, which is on par with other small kitchen appliances such as kettles and toasters,' says William Hobbs, Energy Expert, MyJobQuote. 'However, you will find that multi-cookers use a bit more electricity than these appliances because they need to be on for more than a few minutes at a time.'

The top three multi-cookers in our best multi-cooker buying guide use 1200 W, 1460 W, and 1100 W. Multi-cookers with larger capacities will use more electricity, as they'll take longer to heat up.

How much does it cost to run a multi-cooker?

'Thanks to their differing functions and capacities that range from 3 to 8 litres, multi-cookers do vary in power consumption and running costs,' says William. 'Depending on the make and model, it costs between 35p and 92p per hour to run a multi-cooker at the current maximum electricity rate.

To give you more of an idea of how much it cost to run a multi-cooker, we've used the top three multi-cookers in our guide, and calculated how much they will cost to run following the new energy price cap increase. From 1st April, the maximum you could be charged for electricity is 51p per kWh. However, government support will keep this figure at 33.2p per kWh we've rounded it up to 34 for ease for the following figures.

• The Instant Pot Pro Multi-Cooker uses 1.2 kWh of energy and costs 41p per hour to run.

• The Ninja Foodi 9-in-1 Multi-Cooker uses 1.46 kWh of energy and costs 50p per hour to run.

• The Sage Fast Slow Go Multi-Cooker uses 1.1 kWh of energy and costs 37p per hour to run.

'The Government’s Energy Price Guarantee for your area and your energy tariff affects the exact running costs for a multi-cooker,' says William. 'To get a better idea of how much your multi-cooker costs to run for an hour, you’ll need to take your unit rate. This can be found on your bill or smart meter.'

You'll also need to look at the wattage power of your multi-cooker, and divide this number by 1000 to get the kWh. Multiply the kWh by how much you pay per unit of energy to find out how much your multi-cooker costs to run for an hour.

For example, the Tefal CY505E40 All-in-One Cooker has a power of 1600 W, which 1.6 kWh (energy units per hour). If your current energy rate is 34p per hour, this multi-cooker will cost 54.4p per hour of use.

If you tend to use your multi-cooker for around 30 minutes per day rather than a full hour, just cut this figure in half at the end.

How much does it cost to have oven on for 1 hour?

'Modern electric ovens tend to use between 1.5 kWh and 5 kWh of power, depending on their energy efficiency and capacity,' says William. 'This means they cost between 77p and £2.55 per hour to run based on the new capped energy rate.'

Multi-cookers can use the same amount of energy as smaller convection ovens, however, most multi-cookers won't cost more than 50p an hour to run. And thanks to the different functions like air frying, steaming, and pressure cooking, the cooking process doesn't take as long. They don't need to be switched on for as long which makes them effectively cheaper to run than the cost to run an oven.

Will you be investing in one of the best multi-cookers now you know how much they cost to run?