If you look at your bill you will see that there are fees, taxes, charges, usage, etc etc. so it is all a matter of what and how you want to calculate your cost of electricity. For me, if I only use "Electric Service Amount" my cost is about $0.095/kWh
If I use the "Actual Electric Charges" my cost is right at $0.11/kWh
YMMV but sounds like 12 cents is a good estimate