Udisha
It's a myth that fridge magnets increase electricity bills. In reality, fridge magnets do not have the strength to increase voltage consumption because of their low magnetic field.
Fridge magnets do not have the power to affect the refrigerator's electricity consumption due to low magnetic pull.
While fridge magnets don't add to your electricity bill, it might cause other minor damages to your refrigerators. Fridge magnets may cause minor scratches or dirt patches to form on the surface of the refrigerator.
If your refrigerator consumes a lot of electric power, do not blame it on the carefully collected fridge magnets that adorn it. Instead, look into other factors that may have raised the bill. Refrigerators need regular maintenance and careful handling. Ensure that the doors are properly closed after every use.
Compressors in refrigerators are the most important and take up majority of the power. Clean it regularly and get it serviced once in a while to maintain efficiency.