Waste? it's chump change. I never turn off any of my computers unless I'm working on it. No point to do so. We do use sleep mode which kicks on after a time but never ever a full shut down. I advise my grandmother to do the same with her computer. Just let it go to sleep, it's barely using any power in that state. Not enough for you to worry about a surprise on the next power bill..
I guess electricity is far cheaper where you live. It definitely makes a difference for me. The PC (and peripherals) is probably the biggest single contributor to the electricity bill and, yes, it makes a very measurable difference if I unplug it when not using it vs just leaving it shut down (yet alone in 'sleep' mode, which I'm guessing is even worse). Even when all turned off the PC and various peripherals use a significant amount of power (I've measured it) and it adds measurably to the bill.
Mind you, it works just as well if you 'hibernate' and then unplug it at the mains. Hibernate, fine, sleep, no.
But that's all besides the point - it is a bit silly to have the power button under settings, but its a very minor issue, surely?