Induction cooker (Wikipedia reference) is pretty popular in SE Asia because it is faster, uses less electricity and the cook top don't burn stuff. I actually have not seen it been advertised much here in Australia. However I just saw this deal at SoldSmart.com.au — a induction cooker + 28cm steel pan for $69.95 + delivery.
Maximum power is rated at 2000 watt. The only limitation is that the pan or pot must be ferromagnetic or ferromagnetic coated, i.e. iron, because it works on magnetic induction.
i got one of these its awesome!