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Standard electric plates will work with all cookware, while induction hot plates can only be used with induction-compatible cookware, like most stainless steel or cast iron. Standard electric plates also tend to cost less than induction hot plates.
An average hot plate will draw approximately 1,200 watts of power. If the hot plate will be used for one hour each day over a 30-day period, it will consume 36 kilowatt-hours.