It was $300 for the server, and no, the electric bill is fine. But what you have to worry about is if your ISP allows you having a server running in your home.
I use 1and1. It's very easy to use and i've never had a problem with them. Their domains are also very cheap.
I used Hostgator and Slicehost. Hostgator is inexpensive and easy to use, and Slicehost is great if you want to learn more about running a webserver.
I currently host myself I have my own server. I used to be with HostMonster about a year ago, they have great fast servers and excellent support
I also used to be with Dreamhost, then they complained that my blogs took too much CPU power and closed my account, do not really blaim them since i had a lot of blogs and visitors so i guess it took a lot of CPU
i am using webhostingbuzz not satisfied hosting and cirtexhosting which is best never complain is 6month any kind of .
I am using aruba.it and it's fabulous! it gives you illimited space and bandwidth for 25 euros a year, and I've been hosted there since 2002 and i won't leave them.. I've had a site with 1000+ visits a day for months and it works always very well! you should try it!
I've been using GoDaddy for 2 years and have had zero downtime. The one time I had to call customer service I was on and off the phone in under 10 minutes, problem solved. It's nice. They kinda don't suck. Plus you can get free hosting with the purchase of any domain name.