Yes.
Electricity is sold in 'units' of a kilowatt hour, i.e. 1,000 watts delivered to your home continuously for one hour. At the moment, the cost of a kWh is around 11-15p, depending on what company you buy it from and on what contract. So running your LCD for 200 hours would use one unit. Call that 7-8p a week (roughly), times 12 weeks in a quarter: in very rough terms, your clock/radio on standby sticks a quid on your electricity bill.
Not much in itself, but multiply that by 5-10 gadgets on standby and there are opportunities for savings.
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Efergy is a very useful device - it provides a real-time display, in watts, of how much power your home is using at any one time. Even with everything off and only standby device, your house or flat can easily still be drinking 100w or so.