Wow, you certainly have extraordinarily inexpensive electricity there. It's more than double that price here in western Texas. I think I would keep all of my old appliances as long as possible if I lived where you do. I have all relatively new Energy Star rated appliances (oven, microwave, dishwasher, fridge) and quite a few compact fluorescent lamps to help combat the high electric cost. My electric bill averages about $150 monthly. It's higher in summer, lower in winter due to central a/c use.