Calculating Power Usage from a Device

I have had a look through and found some really complex ways of doing this.

My Tapo Power Monitoring Plugs have a sensor that is called:

sensor.device_today_energy which has the following:

state_class: total_increasing
unit_of_measurement: kWh
device_class: energy

Can I just times this by the cost of my electricity per kWH using a created sensor?

I think so. But have a look at the HACS integration PowerCalc.