I agree with CH420. I suggest performing the calculation this way:
FIRST STEP: How much does your power actually cost per kwH?
The only way to do this is from your bill. In that way, you include your taxes, delivery fees, and any other weird stuff the power company adds on. First, deduct any fixed costs. For me, Eversource charges a $7.00 customer fee that exists even if I use 0 kwH. Then I divide the net by the number of kilowatts used. For me, that is 23.119 cents per kilowatt hour. (Yes, it is very high here in Western Massachusetts. No, we do not have nighttime rates. And, yes, now you know why I am installing solar panels this year.)
SECOND STEP: How much does it cost to go one mile?
My RAVE4 PRIME car keeps telling me that I am getting 3.2 miles per kilowatt on average. It does higher. But, I will take 3.2 miles per kilowatt-hour. So, I divide 23.199 cents by 3.2 to get 7.25 cents per mile.
THIRD STEP: How many miles can I go in EV mode until HV kicks in? And, how much did I spent?
I did a test yesterday in a nice sixty degree day with a bunch of hills and traffic lights. I do get the advertised 43 miles before the engine kicks in. So, 43 time 7.25 cents comes to $3.13 to "fill the battery tank."
ANOTHER FUN CALCULATION IS EQUIVALENT GALLON COST:
The car gets an advertised 38 mpg on gas. So, how much do I save using electicity per gallon? Well, 38 times 7.25 is $2.76 Equivalent Gallon cost. In other words, if I only used hybrid mode right now, and one gallon would take me 38 miles and costs $4.25. In EV mode, my gallon equivalent for 38 miles costs $2.76. Savings using even my expensive electricity is $1.49 -- which is close enough to a buck and a half. If I do that 300 days per year, I have saved $450. Woo! Hoo!
What do you guys think of this math?