Its hit or miss I think as no clear math has been provided either way to accurately state how much electricity is being consumed. At this point I think most of it is just assumption. It' s crazy though. What I do know is that the cost in terms of electricity is more than the miners are making in fees. So without, appreciation in price their business model sucks. That said once all the coins are mined, all that will be left is transaction fees so power consumption should go down at that point.

https://steemit.com/steemit/@pawsdog/steemit-quest-for-one-million-time-required-to-build-a-usd1-000-000-00-steemit-account