Electricity is high, and going up all the time. I have 3 servers that run 24/7. My electric bill isn't too bad, though.
I have my workstation with five hard drives (RAID-1 and RAID-5) which puts out a good bit of heat, an old AMD K6-3+ Solaris server which puts out a fair bit of heat mostly from the AT power supply, and an old customer server I'm co-locating for a while. They don't consume a lot of electricity, but between the three of them and their associated UPSs running constantly my computer room stays around 82F - 85F. I'm working to consolidate that some, though.