The paper deals with monitoring and controlling of electric power consumption on real time basis, thereby generating consumption statistics using IOT. It helps the user to know his/her power consumption. This could sub-sequentially reduce the manual work involved in the process of collecting the number of units consumed and for avoiding the manual costs and errors. The setup of this system is simple and does not require much hardware. The main elements are sensors which are interfaced to Intel Galileo Zen 2 with a Wi-Fi module for transmission of data (to the open source IOT platform Thing speak, where statistics can be viewed, there by controlling can be done).