From the blog "Making a cheap electrical energy meter"

Why do people get so hung up about thermal insulation, it really is not difficult.   The main thing to remember is that the power, in watts (W, J.s-1) that passes though a material is approximately proportional to three things, conductivity (k, λ), temperature difference (∆T) in kelvin (K), and thickness in metres (m). In arithmetic terms, the thermal conductivity of a material is written as W.m-1.K-1, or W/m.K (as I have never found a way to write a superscript negative sign on m