I would say your electrician misplaced a decimal point a few places when he did the calculation. Unless your electricity costs $75/KWH then no. My shop power bill for the month of September was $137.12 That is with a 7.5kW spindle lathe and a 7.5kW spindle mill running about 12 hrs/day, 7 days/week for the entire month. This was also my highest power bill of the entire year. Normally averages about $112. Looks like the daily average is around $3.50 over the last 2 weeks.