I have done this a few times. Ok, my friend said to cut down on electric costs, he shuts off his electric box. This is when he is out for a few hours, and at night before bed. He has noticed a $30.00 savings so far. I know it sounds crazy. But when I leave out for a few hours, I do it also. $15.00 savings so far.
I'd be careful doing this. Some appliances are more efficient, and will last longer, if they are cycling properly. This applies primarily to freezers and refrigerators. Disconnecting their electric to "save money" may actually shorten the life of the appliance by HALF.
However, there are some electric-eaters in your home...anything that is in a state of "charging" all the time, like hand vacuums, cordless phones, etc. Also remember those nightlights, that stereo that stays on "sleep" mode, etc. Some things are too much trouble to turn on and off, like your satellite box (which has to reset itself completely each time it is powered off) and the digital clocks. But if you can go to regular analog clocks, they can run for more than a YEAR on one cheapie AA battery. Your digital clocks are using more than that. Save the digitals for the bedroom where they are the most useful. Turn down your thermostat when you leave the house so the furnace doesn't run, make sure lights are off when you're not using them, open blinds and curtains for daylight (and passive solar heating).
Turning off the eletric in the entire house is probably not a wise thing to do, overall.
I believe it's called residual energy - the electricity used to keep your appliances going when they're plugged in. I've found it easier to use a couple of surge protector extension cords. Plug your stuff into them and then pull just one or two surge protector plugs when you leave the house. I don't like to walk into a completely dark house when I get home so I always leave at least one lamp plugged in.
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